• Corporate & Featured and Exclusive  |  JUNE 3, 2015 11:56 PM

    Husni says too much focus placed on 1MDB’s debts

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    It will take time for 1Malaysia Development Bhd (1MDB) to benefit from its investments in power generation and land assets because these projects are long term, says Second Finance Minister Ahmad Husni Hanadzlah. Too much focus, however, has been given by the media …

  • World Biz  |  JUNE 3, 2015 11:20 PM

    Apple recalls some Beats Pill XL speakers

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    Apple Inc says it is recalling some Beats Pill XL portable wireless speakers due to a fire hazard caused by overheating batteries. The iPhone maker will recall about 222,000 speakers in the US and about 11,000 in Canada, the US …

  • Corporate  |  JUNE 3, 2015 11:12 PM

    Maseu calls for govt support in securing jobs abroad

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    The Malaysia Airlines System Employees Union (Maseu) urges the government to assist MAS employees who will be retrenched secure jobs in the same sector abroad. President Alias ​​Aziz said this is one of the proposals to be forwarded in the union’s meeting with Khazanah …

  • Corporate & Featured and Exclusive  |  JUNE 3, 2015 11:02 PM

    1MDB to extend full cooperation to BNM

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    1Malaysia Development Bhd (1MDB) will fully cooperate with Bank Negara Malaysia (BNM) on the inquiry into the company’s governance process and it hopes for a swift conclusion to the matter. “We confirm that BNM has commenced an enquiry on 1MDB, requiring information and statements …

  • World Biz  |  JUNE 3, 2015 9:43 PM

    India orders safety checks on Maggi noodles

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    India’s food minister on Wednesday orders safety checks on Nestle India’s Maggi instant noodles after regional food inspectors said the test batches of the popular snack were found to contain dangerous levels of lead. The Swiss-based food giant has challenged …

  • Corporate  |  JUNE 3, 2015 9:37 PM

    Bursa appoints director for BMD, BMDC

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    Bursa Malaysia has appointed Zuraidah Atan as director of its subsidiaries Bursa Malaysia Derivatives Bhd (BMD) and Bursa Malaysia Derivatives Clearing (BMDC) Bhd with effect from May 27, 2015. Zuraidah is currently public interest director of both companies, for which she was appointed …

  • Corporate  |  JUNE 3, 2015 9:28 PM

    Scanwolf announces changes to investigation committee

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    Scanwolf Corp Bhd director Ong Sing Guan ceases to be a member of a committee to investigate “possible irregularities” in the company’s affairs upon his resignation as director today. Scanwolf, a plastic extrusion manufacturer and property developer, has formed an investigation committee and suspended …

  • Finance  |  JUNE 3, 2015 9:05 PM

    Draghi says QE should continue

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    The head of the European Central Bank pledges on Wednesday to stick with the bank’s loose monetary policy measures, including its rollout of a money-printing programme. In a news conference after leaving interest rates unchanged, Mario Draghi emphasised the need …

  • Economy & Featured and Exclusive  |  JUNE 3, 2015 8:48 PM

    US services exports hit record high, trade deficit narrows

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    The US trade deficit narrowed in April as exports of services hit a record high and imports fell. The US Commerce Department on Wednesday said that the US trade gap shrank to US$40.9 billion (RM150.8 billion) in April, down from March’s …

  • Corporate  |  JUNE 3, 2015 7:58 PM

    Petronas Lubricants eyes 20% growth in East M’sia

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    Petronas Dagangan Bhd’s wholly-owned subsidiary Petronas Lubricants Marketing (M) Sdn Bhd aims to achieve up to 20% lubricant business growth in East Malaysia this year. Petronas Lubricants chief executive officer Zubair Abdul Razak said the target is driven by its transformation strategy and …

  • Corporate, Economy, Featured and Exclusive  |  JUNE 3, 2015 7:41 PM

    Bank Negara begins formal inquiry on 1MDB

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    Bank Negara Malaysia has started a formal enquiry on controversial 1MDB (1Malaysia Development Bhd), according to an official statement by the central bank. “With respect to 1MDB, a formal enquiry has commenced to examine any contravention of the Central Bank’s …

  • Corporate, Economy, Featured and Exclusive  |  JUNE 3, 2015 7:25 PM

    Arul explains 1MDB’s RM42 bil debt

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    The RM42 billion debt of 1MDB (1Malaysia Development Bhd) are all accounted for, said Arul Kanda, president and group executive director in a media statement today. “In recent weeks, there has been much speculation about the use of RM42 billion …

  • Markets  |  JUNE 3, 2015 6:42 PM

    Ringgit ends stronger against US dollar

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    The ringgit closes higher today on mild demand for the local unit, dealers say. At 5pm, the local note was higher against the US dollar at 3.6840/6870 from 3.6970/7000 on Tuesday. Against other major currencies, it traded mixed. It declined to 2.7331/7364 from …

  • Commodities & Featured and Exclusive  |  JUNE 3, 2015 6:39 PM

    Opec is winning the oil war

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    As the Organisation of Petroleum Exporting Countries’ (Opec) ministers meet in Vienna this week they’ll be debating whether the strategy that has upended oil markets is working. The last time Opec met, in November, it jolted markets by leaving production …

  • Economy & Featured and Exclusive  |  JUNE 3, 2015 6:32 PM

    Love of cash jeopardises retirement savings

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    Asians are facing the prospect of running out of retirement savings because they hold too much cash. The average investor in Asia may see an investment return shortfall of 3.3% a year, according to a new report from Manulife Asset Management. …

  • Corporate & Property  |  JUNE 3, 2015 6:22 PM

    MPHB upbeat on earning in coming quarters

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    MPHB Capital Bhd is upbeat on its earnings for the next six months, backed by the ongoing Rawang joint-venture property development with Bandar Raya Developments, along with the roping in of Generali Asia NV. MPHB chief operating officer Kheoh And Yeng said the …

  • Corporate  |  JUNE 3, 2015 6:12 PM

    AmResearch advises acceptance of Cocoaland offer

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    Bank-backed research house AmResearch advises shareholders to accept the offer made for Cocoaland Holdings Bhd, stating that the offer price is a premium, compared to the last done price of the snack and beverage company. AmResearch maintains a “buy” call on …

  • Markets  |  JUNE 3, 2015 6:02 PM

    KL shares close higher on consistent buying

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    Share prices on Bursa Malaysia closed higher supported by consistent buying activities in selected heavyweights, dealers say. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.8 points to 1,749.17 after hovering between 1,743.12 and 1,750.68 throughout the day. Nestle and Kuala …

  • Commodities  |  JUNE 3, 2015 5:50 PM

    Rubber market ends mixed

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    Natural rubber prices on the Kuala Lumpur rubber market ended mix today as price correction on tyre-grade SMR 20 interspersed demand for latex-in-bulk. A dealer said SMR 20 prices saw a technical correction following a strong ringgit, but expectations of further purchase by …

  • TigerTalk  |  JUNE 3, 2015 5:46 PM

    Mueller at MAS promising, but early days

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    Malaysia Airlines’ new CEO hosted his first press conference on June 1, in which he identified key areas of the airline which needed to be fixed and briefly laid out his plans to do so. The new chief has a plan, but can he execute it?

  • Opinion  |  JUNE 3, 2015 5:31 PM

    Europe and Greece: The damage is done

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    With both sides said to be drawing up final proposals, and a definitive debt crunch thought to be imminent, the months of brinkmanship over Greece may at last be drawing to a close. But who knows, really?

  • Corporate  |  JUNE 3, 2015 4:34 PM

    Wah Seong to tap renewable energy sector for growth

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    Wah Seong Corp Bhd (WSC) will continue to tap opportunities in the renewable energy sector while strengthen its presence in Latin America, East Asia, and Africa. Managing director and group chief executive officer Chan Cheu Leong said sales of steam turbines, boilers, …

  • Corporate  |  JUNE 3, 2015 4:21 PM

    Paramount eyes RM400 mil in property sales this year

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    Property and education group Paramount Corp Bhd targets to achieve RM400 million in sales from its property division in the financial year ending Dec 31, 2015 (FY15). Last year, property sales amounted close to RM317 million. Group chief executive officer Chew Sun …

  • Featured and Exclusive, OTHERS, World Biz  |  JUNE 3, 2015 4:13 PM

    Just 35 Minutes to get a pilot license in India

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    Anupam Verma has a certificate that shows he has flown an aircraft for 360 hours. He says he got it after sitting in the co-pilot’s seat for just 35 minutes. He’s one of dozens of pilots in the country who …

  • World Biz  |  JUNE 3, 2015 3:58 PM

    Samsung Elec says no plans to merge with Samsung SDS

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    Tech giant Samsung Electronics Co Ltd has no plans to merge with sister company Samsung SDS Co Ltd, a senior Samsung Electronics executive says on Wednesday, responding to recent market speculation about such a possibility. “The management wants me to express …

  • Markets  |  JUNE 3, 2015 3:44 PM

    KL shares continue uptrend at mid-afternoon

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    Shares on Bursa Malaysia remain higher at mid-afternoon supported by consistent buying in selected consumer stocks, dealers says. As at 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.86 points to 1,748.23. Market breadth remained positive with gainers beating losers …

  • World Biz  |  JUNE 3, 2015 3:34 PM

    Blatter’s exit sparks Qatar stock selloff

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    Qatar’s stocks sank to the lowest in more than six weeks after the resignation of Joseph “Sepp” Blatter as Fifa president yesterday renewed concern the Gulf nation may lose the right to host soccer’s 2022 World Cup. The QE Index …

  • Corporate  |  JUNE 3, 2015 3:32 PM

    Utusan plans to diversify as newsprint revenue drops

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    Utusan Melayu (M) Bhd plans to sustain its newsprint business while also venturing into other businesses to broaden its earnings base. This is to mitigate the group’s declining revenue which has dropped to RM291.2 million for the financial year ended Dec 31, 2014 …

  • Corporate & Featured and Exclusive  |  JUNE 3, 2015 3:14 PM

    AirAsia open to collaboration with MAS NewCo

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    AirAsia Bhd is looking for possible areas to collaborate with Malaysian Airline Bhd (MAB) in response to a statement by new chief executive officer (CEO) Christoph Mueller yesterday to seek collaboration with the low-cost carrier and other potential partners. AirAsia group chief …

  • World Biz  |  JUNE 3, 2015 3:06 PM

    Samsung to expand Samsung Pay to China, Europe

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    Tech giant Samsung Electronics Co Ltd said on Wednesday that it will expand its Samsung Pay mobile payments service to markets such as China and Europe after an initial launch in South Korea and the United States later this year.

  • Corporate & Featured and Exclusive  |  JUNE 3, 2015 2:59 PM

    New guidance to standardise Islamic finance practices

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    Malaysia’s central bank says it will finalise operating standards for all major Islamic finance contracts by the end of this year, creating the first comprehensive set of practical guidance for the industry. The set of 11 standards will complement existing Syariah guidelines …

  • Featured and Exclusive & Finance  |  JUNE 3, 2015 2:33 PM

    Greece says won’t pay IMF without prospect of a deal

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    Greece will not make a June 5 loan repayment to the International Monetary Fund (IMF) if there is no prospect of an aid-for-reforms deal with its international creditors soon, the spokesperson for the ruling Syriza party’s lawmakers says on Wednesday. …

  • World Biz  |  JUNE 3, 2015 2:27 PM

    Herbalife strikes back on pyramid scheme claims

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    Herbalife Ltd went on the attack against nemesis Bill Ackman on Monday, debuting a website that paints the billionaire hedge fund manager as an irresponsible opportunist. includes media reports about legal probes into his anti-Herbalife campaign as well as …

  • Corporate  |  JUNE 3, 2015 2:21 PM

    Mercedes-Benz M’sia records best ever sales in May

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    Mercedes-Benz Malaysia had another record month for passenger cars in May, registering 1,143 units, which was an improvement of more than 100% from the 544 sold during the same period last year.

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 2:10 PM

    Bank tied to Fifa scandal has drug cartel history

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    A small private bank controlled by a reclusive Brazilian billionaire shows up more than two dozen times in US prosecutors’ corruption charges against world football officials. It’s hardly the bank’s first brush with scandal. Delta National Bank & Trust Co …

  • Corporate  |  JUNE 3, 2015 1:33 PM

    NHF allocates over RM20 mil in capex for FY15

    Story by

    New Hoong Fatt Holdings Bhd (NHF), an automotive replacement parts manufacturer, allocates more than RM20 million in capital expenditure (capex) for the financial year 2015 and towards product design and development. Managing director Chin Jit Sin said the company is looking into growing revenue …

  • World Biz  |  JUNE 3, 2015 1:24 PM

    China to probe six Sinopec units in graft crackdown

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    China’s main anti-corruption watchdog will inspect six subsidiaries of state-owned energy giant Sinopec Group, the latest step in a continuing crackdown on the oil sector in the world’s number two economy. The ruling Communist Party’s watchdog plans to send teams …

  • Commodities  |  JUNE 3, 2015 1:14 PM

    KLTM ends US$30 lower at US$15,520 a tonne

    Story by

    The Kuala Lumpur Tin Market (KLTM) closed US$30 lower for US$15,520 a tonne today and despite the rise in the metal price on the London Metal Exchange (LME). The tin price on the LME rose by US$160 to US$15,535 a tonne. A dealer …

  • Markets  |  JUNE 3, 2015 1:04 PM

    KL shares higher at mid-day

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    Shares on Bursa Malaysia ended the morning session in positive territory today on consistent buying in selected heavyweight stocks, dealers say. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI), was up 5.62 points to 1,746.99, after moving between 1,743.12 and …

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 12:54 PM

    America’s unwanted Ivy League grads flocks to India

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    Kunal Bahl’s American dream was coming together in late 2007. He had Ivy League degrees in business and engineering, a debut job at Microsoft Corp and a roadmap to the career he’d always wanted in Silicon Valley. Then his application …

  • World Biz  |  JUNE 3, 2015 11:56 AM

    Boeing starts assembly of pioneer 737 MAX

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    Boeing employees in Renton, Washington have started building the pioneer 737 MAX airplane with the first component, the wings, to be assembled in the process.

  • Economy & World Biz  |  JUNE 3, 2015 11:53 AM

    What former US steel town Pittsburgh can teach China

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    When it comes to shuttering steel plants and transforming an economy, Pittsburgh can teach China how it’s done. That’s according to former Fed chairman Ben Bernanke. China is undergoing a painful transition from an economy fueled by exports and heavy industry to one …

  • Opinion  |  JUNE 3, 2015 11:36 AM

    Getting inequality wrong

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    On most contentious issues, our perceptions often diverge from reality. It has been shown, for example, that people in many countries are bad at guessing the prevalence of immigrants, Muslims and teenage pregnancies, as well as murder rates, unemployment and population aging.

  • Markets  |  JUNE 3, 2015 11:33 AM

    KL shares remain higher at mid-morning

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    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained higher mid-morning as buying emerged in selected heavyweights, a dealer said. As at 11 am, the FBM KLCI rose 5.41 points to 1,746.78, after opening 7.22 points better at 1,748.59. Market breadth remained …

  • Markets & Property  |  JUNE 3, 2015 11:14 AM

    Cheung Kong Property spin off debuts at HK$70

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    Cheung Kong Property Holdings Ltd opened at HK$70 on its first trading day in Hong Kong after being spun off from billionaire Li Ka-shing’s conglomerate.

  • Commodities  |  JUNE 3, 2015 10:57 AM

    Peru in dispute with Shell over LNG royalties

    Story by

    PeruPetro is in dispute with Anglo-Dutch oil firm Shell over royalties related to the export of seven Peruvian liquefied natural gas (LNG) cargoes last year, the regulator said, adding it hoped to reach a deal soon or would resort to …

  • Finance & Markets  |  JUNE 3, 2015 10:00 AM

    Ringgit rebounds to open higher against the US dollar

    Story by

    The ringgit rebounded against the US dollar, in early trade, due to mild demand for the local unit. At 9.30 am, the local unit traded at 3.6800/6830 from 3.6970/7000 at 5 pm on Tuesday. Against a basket of four major currencies, the …

  • Markets  |  JUNE 3, 2015 9:56 AM

    KL shares open higher

    Story by

    Share prices on Bursa Malaysia opened higher supported by continuing buying interest in most heavyweight stocks, dealers said. As at 9.20 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.45 points higher at 1,745.82, after opening 7.22 points better at 1,748.59. A …

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 9:45 AM

    App maker files EU antitrust complaint against Google

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    US tech firm Disconnect has filed a complaint to EU antitrust regulators against Google’s ban on its privacy app, accusing the Silicon Valley giant of abusing its dominant market position. Disconnect, set up four years ago by former Google engineers, …

  • Commodities & Featured and Exclusive  |  JUNE 3, 2015 9:20 AM

    US House energy chair supports lifting oil export ban

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    The Republican chairman of the House of Representatives’ energy panel on Tuesday said lifting the 40-year-old ban on US oil exports would benefit consumers and the country’s allies, a move that could boost support for legislation in the chamber. “Oil …