• Corporate & Featured and Exclusive  |  JULY 24, 2014 6:36 PM

    TNB, SIPP sign heads of agreement for Track 4A

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    [email protected]

    National utility Tenaga Nasional Berhad (TNB) and SIPP Energy Sdn Bhd has inked a heads of agreement (HoA) for the proposed power plant in Pasir Gudang, Johor awarded to them as part of a consortium in late May this year. …

  • Finance & World Biz  |  JULY 24, 2014 6:30 PM

    CIMB Niaga reports net profit of RM536 mil for 1H 2014

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    PT Bank CIMB Niaga Tbk today reported an unaudited consolidated net profit of Rp1.95 trillion (RM536.25 million) for the first six months of 2014, down 8.5% from Rp2.13 trillion reported during the same period in 2013. This translates to earnings per share (EPS) of Rp77.7 and a return on equity (ROE) of 14.5%.

  • World Biz  |  JULY 24, 2014 6:26 PM

    Vodafone loses A3 rating at Moody’s after acquisition spree

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    Vodafone Group Plc’s debt rating was cut one level at Moody’s Investors Service after the carrier made multibillion-dollar acquisitions to expand in Spain and Germany. The second-largest wireless company’s senior unsecured debt was cut to Baa1, the third-lowest investment grade, …

  • Commodities  |  JULY 24, 2014 6:19 PM

    Rubber market ends mixed

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    The Malaysian rubber market ended mixed today, putting a halt to three straight days of losses, following the uptrend on regional markets and higher than expected Chinese purchasing data, a dealer said.

  • Corporate & Property  |  JULY 24, 2014 5:49 PM

    MRCB to buy out Penang Sentral partner for RM50 mil

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    [email protected]

    Malaysian Resources Corporation Berhad (MRCB) is buying out its 51% partner in the Penang Sentral development project, Pelaburan Hartanah Berhad (PHB), for a little over RM50 million. In a statement today, MRCB announced that it has inked an agreement with …

  • Corporate  |  JULY 24, 2014 5:49 PM

    MAHB reports pre-tax loss of RM37.73 mil for 2Q

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    Malaysia Airports Holdings Bhd (MAHB) reported a pre-tax loss of RM37.73 million for the second quarter ended June 30, 2014 from a pre-tax profit of RM132.06 million for the same period a year ago.

  • OTHERS  |  JULY 24, 2014 5:43 PM

    KL shares closed higher on last minute buying

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    Last-minute buying in selected heavyweights pushed the local benchmark to close in positive territory today, dealers said.

  • World Biz  |  JULY 24, 2014 5:41 PM

    Sharp pulls out of Italian solar venture

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    Sharp Corp. is pulling out of its Italian solar venture, the Japanese company’s last overseas panel manufacturing plant, in a further reorganization of its solar business. The Osaka-based company agreed to transfer its one-third stake in 3Sun Srl to partner …

  • Markets  |  JULY 24, 2014 5:34 PM

    Ringgit closed lower against US dollar on mild profit taking

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    The ringgit closed lower against the US dollar today on short covering and mild profit-taking, a currency trader said.

  • Corporate  |  JULY 24, 2014 5:06 PM

    Reach Energy lures Norway’s wealth fund in IPO

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    Reach Energy Bhd. has attracted investors including Norway’s US$890 billion sovereign wealth fund in an initial public offering to fund its acquisitions of oil and gas fields. Norges Bank Investment Management, the world’s largest sovereign wealth fund, and Malaysia’s pilgrim fund …

  • World Biz  |  JULY 24, 2014 5:04 PM

    Thai Airways restructures to boost revenues, cut costs

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    Thai Airways International Pcl's board on Thursday approved a restructuring plan aimed at boosting revenues and cutting operating costs to return the loss-making airline to profit as soon as the middle of next year.

  • World Biz  |  JULY 24, 2014 4:55 PM

    Technip sees mounting cost pressure stopping oil projects

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    Technip SA, Europe’s largest oilfield-services provider by market value, warned that energy companies are “putting pressure” on suppliers to lower costs and said profit margins may be trimmed by Russian sanctions. “There is greater uncertainty for all players,” Chief Executive …

  • World Biz  |  JULY 24, 2014 4:47 PM

    “Swatch is not working with Apple on smartwatches”

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    Swatch Group AG denied a report that said Apple Inc. is working with the world’s largest watchmaker on a smartwatch. VentureBeat yesterday reported that Apple and Swatch had been working together to release a line of smartwatches in various brands, …

  • Economy  |  JULY 24, 2014 4:36 PM

    Gov’t receives feedback in formulation of 2015 budget

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    The Finance Ministry has received feedback from the public and private sectors on ways to enhance Malaysia's quality of life and happiness index in the formulation of Budget 2015.

  • Economy  |  JULY 24, 2014 4:36 PM

    Moody’s: Rising household debt a risk to Asean banks

    Story by
    sharmila@kinibi[email protected]

    The long positive credit cycle benefitting banks in Southeast Asia may be close to peaking, leading to new challenges for lenders as asset-quality risks emerge due to tighter global monetary conditions, says Moody’s Investors Service. “Our analysis shows that within …

  • World Biz  |  JULY 24, 2014 4:33 PM

    BMW caters to the needs of aging drivers with new model

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    Juergen Bergmann likes to spend time in the forests near his home in Hamburg. What the active 72- year-old with tousled graying hair doesn’t like is squeezing himself into low-slung cars to drive there. “Getting in and out of my …

  • World Biz  |  JULY 24, 2014 4:26 PM

    Lush Cosmetics funds Sabah project to fight pangolin trade

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    Lush Cosmetics, a company known for its hand-made cosmetics and tough stance on animal testing for cosmetics, is currently funding a project in Sabah to fight the Sunda pangolin trade.

  • World Biz  |  JULY 24, 2014 4:05 PM

    Tata said to seek RM17.7 bil Corus debt refinance loan

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    Tata Steel Ltd hired banks to raise the equivalent of US$5.6 billion(RM17.7 billion), the most since the acquisition of Corus Group Plc in 2007, to refinance debt taken to fund the purchase of Europe’s second-largest steelmaker. The multi-currency loan sought …

  • Markets  |  JULY 24, 2014 3:58 PM

    India’s Sensex falls from record; rally may falter

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    India’s benchmark stock index slid from a record, poised to halt a seven-day winning streak, amid concern the rally has exceeded the outlook for earnings. Tata Motors Ltd, owner of Jaguar Land Rover, declined for a second day after reaching …

  • World Biz  |  JULY 24, 2014 3:50 PM

    Emirates NBD beats estimates with 35% quarterly profit rise

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    Emirates NBD PJSC, the United Arab Emirates’ second-biggest bank by assets, posted a 35% jump in second quarter profit, beating analysts’ estimates, after income from fees and interest increased. Profit rose to 1.31 billion dirhams (RM1.13 million), from 972 million …