• Singapore  |  JULY 29, 2015 7:17 PM

    SGX 4Q net profit up 24%; says to boost listings

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    Singapore Exchange Ltd (SGX) reports a 24% rise in its quarterly net profit to the highest in two years and says it will focus on tackling the weak environment for new listings of companies. “We are conscious of the challenges …

  • Featured and Exclusive, Launches, World Biz  |  JULY 29, 2015 7:03 PM

    Microsoft unveils much-awaited Windows 10

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    Microsoft Corp launches its much-awaited Windows 10 operating system at midnight on Wednesday. Windows 10, which comes almost three years after the launch of the company’s previous operating system, will be available as a free upgrade in 190 countries for …

  • Corporate  |  JULY 29, 2015 6:59 PM

    TA Enterprise: No plans to sell its stockbroking business

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    TA Enterprise Bhd has no plans to sell its stockbroking business, but it is on the lookout for merger and acquisition (M&A) opportunities to diverse its business portfolio. Managing director and chief executive director Alicia Tiah said stockbroking business is still seen as …

  • Corporate  |  JULY 29, 2015 6:49 PM

    TA Global to launch residential project in Australia

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    TA Global Bhd will launch the second phase of its residential property development in Sydney, Australia next month with a gross development value of A$160 million (RM444.97 million). Executive director Kimmy Khoo Poh Kim said the second phase, spread over 33ha, would …

  • Corporate  |  JULY 29, 2015 6:27 PM

    Boustead unit in MOU for O&G upstream project bids

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    Boustead Atlas Hall Sdn Bhd and Olio Resources Sdn Bhd team up to tender for two oil and gas (O&G) upstream projects in the country. Parent company Boustead Holdings Bhd said the first project involves the rental of seawater filter skid for a new …

  • World Biz  |  JULY 29, 2015 6:17 PM

    Uber faces lawsuit as union sues over minimum wage

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    Uber Technologies Inc faces a lawsuit complaining that the ride-sharing service doesn’t ensure minimum wages or paid vacations for drivers. The suit will be filed as soon as next month and may include allegations of health and safety violations, according …

  • Commodities  |  JULY 29, 2015 6:06 PM

    Rubber market ends mixed

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    The Malaysian rubber market closed mixed today on reduced buying momentum. A dealer said some traders were reluctant to buy Malaysian rubber due to the firmer ringgit against the US dollar today which made the commodity expensive compared to that of neighbouring countries. …

  • Corporate, Featured and Exclusive, Finance  |  JULY 29, 2015 6:00 PM

    Power made up 39% of M’sian infra bonds in last decade

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    Power bonds accounted for 39% of Malaysia’s RM239 billion of infrastructure bond issues in the last decade, says RAM Rating Services Bhd’s co-head of infrastructure and utilities ratings Chong Van Nee. In a statement today, the ratings agency said that …

  • Markets  |  JULY 29, 2015 5:51 PM

    KL shares close marginally lower

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    Bursa Malaysia ended slightly lower today in lacklustre trading amid the absence of clear market drivers, dealers say. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.71 point to 1,698.98, after fluctuating between 1,696.72 and 1,702.36 throughout the day. A …

  • Singapore & World Biz  |  JULY 29, 2015 5:44 PM

    Temasek, Facebook co-founder invest in startups

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    Facebook Inc co-founder Eduardo Saverin and Temasek Holdings Pte Ltd, Singapore’s state-owned investment company, are among the main investors in a new venture capital fund that will take stakes in technology companies in Southeast Asia. The Golden Gate Ventures Fund …

  • Markets  |  JULY 29, 2015 5:33 PM

    Ringgit ends stronger against US dollar

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    The ringgit ended firmer against the US dollar today as investors’ interest began shifting away from the greenback on cautious sentiment. At 5pm, the ringgit was quoted at 3.8095/8125 against the US dollar from 3.8130/8150 on Tuesday. A dealer said traders were cautious …

  • TigerTalk  |  JULY 29, 2015 5:32 PM

    The 1MDB cabinet reshuffle

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    Whichever way one looks at the changing of the attorney-general, the appointment of a new Special Branch head and the cabinet reshuffle, they have everything to do with that self-styled strategic development company that isn’t – 1MDB. Just what is the prime minister trying to achieve with the 1MDB reshuffle?

  • Featured and Exclusive & World Biz  |  JULY 29, 2015 5:27 PM

    Birkin wants name removed from bags over croc treatment

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    Hermes International SCA says it will penalise any breach of its supply code after Jane Birkin voiced concern over crocodile slaughter processes. The actress has asked Hermes to remove her name from the Birkin bag after an investigation into the …

  • Finance  |  JULY 29, 2015 5:03 PM

    Indonesia regulator open to higher foreign stakes in banks

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    Indonesia’s financial regulator is open to allowing a higher percentage of foreign ownership in local banks as the country wants to tap international funds for trade and project finance. The Southeast Asian nation usually limits foreign purchases of domestic banks …

  • Corporate  |  JULY 29, 2015 4:44 PM

    M’sia-Germany trade set to grow 5-7% this year

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    Malaysia-Germany total trade, which touched a high of 10.9 billion euro (RM45.9 billion) last year, is expected to grow by between 5% and 7% this year, says Malaysian-German Chamber of Commerce and Industry (MGCC). Executive director Alexander Stedtfeld said the total trade would hit …

  • World Biz  |  JULY 29, 2015 4:43 PM

    Peugeot rebounds with RM2.4 bil net income

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    PSA Peugeot Citroen rebounded to a first-half profit, the French carmaker said on Wednesday, turning the page on three years of losses as a recovery plan led by chief executive Carlos Tavares bears fruit.

  • World Biz  |  JULY 29, 2015 4:11 PM

    Nokia launches virtual reality camera

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    Finland’s Nokia, once the world’s largest phone maker, unveils a spherical camera designed for making 3D movies and games that can be watched and played with virtual reality headsets. The device, showcased at an event in Los Angeles, takes video and …

  • Commodities, Economy, Featured and Exclusive  |  JULY 29, 2015 4:00 PM

    S’wak to maximise O&G contribution to state economy

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    Sarawak wants to maximise its oil and gas (O&G) sector’s contribution to the state economy by making Bintulu a petrochemical hub in Malaysia. Chief Minister Adenan Satem said to do it, Sarawak will be intensely involved in developing the high-value downstream products of …

  • Markets  |  JULY 29, 2015 3:39 PM

    KL shares remain subdued at mid-afternoon

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    Shares on Bursa Malaysia remained subdued at mid-afternoon today weighed by losses on TNB and Sime Darby. At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.82 point lower at 1,698.88. TNB topped the losers’ list, down 12 sen to …

  • Corporate  |  JULY 29, 2015 3:35 PM

    Analysts downgrade BAT on share price strength

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    British American Tobacco (Malaysia) Bhd (BAT) saw downgrades from several research houses, despite coming in within expectations with its results for the second quarter of its 2015 financial year. TA Securities downgraded the stock from “hold” to “sell”, maintaining its …

  • World Biz  |  JULY 29, 2015 3:08 PM

    Toshiba to cut interim CEO pay by 90% on scandal

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    Toshiba Corp says it would slash its interim chief executive’s monthly salary for the next two months by 90%, including previously announced cuts, following revelations of improper accounting at the Japanese conglomerate. The company said on Wednesday it would reduce Masashi …

  • Corporate  |  JULY 29, 2015 2:40 PM

    Cepatwawasan 2Q pre-tax profit falls 59%

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    Cepatwawasan Group Bhd’s pre-tax profit for the second quarter ended June 30, 2015 slipped 59% to RM4.67 million from RM11.44 million in the same quarter last year. Revenue dropped to RM53.98 million from RM68.3 million previously. In a filing to Bursa Malaysia, …

  • Markets  |  JULY 29, 2015 2:33 PM

    As China’s state funds buy stocks, retail investors sell

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    China’s efforts to rekindle investor enthusiasm for the stock market are gaining little traction as margin traders cash out and new equity account openings tumble. Speculators reduced bets using borrowed money to the lowest level in four months on Tuesday, …

  • Economy & Featured and Exclusive  |  JULY 29, 2015 2:23 PM

    Najib says M’sia will continue to grow sustainably

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    Malaysia will continue to grow sustainably, reduce fiscal deficit, and keep debt at a manageable level, says Prime Minister Najib Abdul Razak. “We have strong fundamentals,” Najib said via Twitter. Meanwhile, the Prime Minister’s Office (PMO) has expressed satisfaction with the Standard & Poor’s …

  • Corporate, Economy, Featured and Exclusive  |  JULY 29, 2015 2:00 PM

    Hawaii meeting likely to conclude TPP talks: Tok Pa

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    International Trade and Industry Minister Mustapa Mohamed believes that the ongoing Trans Pacific Partnership ministerial meeting being held in Hawaii could substantially conclude negotiations over the controversial deal.

  • Commodities  |  JULY 29, 2015 1:42 PM

    KLTM ends US$650 higher at US$16,250 a tonne

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    The Kuala Lumpur Tin Market (KLTM) rose sharply today to close US$650 firmer at US$16,250 a tonne, in line with an uptrend in the metal price on the London Metal Exchange (LME), a dealer says. The tin price on LME perked US$450 …

  • Featured and Exclusive & Markets  |  JULY 29, 2015 1:28 PM

    China stock market rout sends yuan policy into disarray

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    China is in a currency quandary: How to promote the yuan in global trade while at the same time using it to stabilise market volatility? The People’s Bank of China (PBOC) is holding the onshore version of the yuan at …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 1:22 PM

    PAC to proceed with its 1MDB probe

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    The Public Accounts Committee (PAC) will proceed with its investigation into 1Malaysia Development Bhd (1MDB), its deputy chairman Dr Tan Seng Giaw says. As such, witnesses who have been summoned to testify are being notified to attend the hearings on …

  • Markets  |  JULY 29, 2015 1:02 PM

    KL shares almost flat at mid-day

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    Bursa Malaysia ended the morning session almost flat today on lack of local market drivers amid weakness in the external environment, dealers say. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.65 point to 1,699.05 after moving between 1,696.72 and 1,701.58 …

  • Economy & Featured and Exclusive  |  JULY 29, 2015 12:50 PM

    Currency forum mulled to avoid manipulation in TPPA

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    Pacific Rim trading partners are considering setting up a top-level forum to consider ways to avoid currency manipulation in parallel to an ambitious 12-nation trade deal, Australian Trade Minister Andrew Robb says. Robb said the US proposal would not seek …

  • Corporate  |  JULY 29, 2015 12:25 PM

    Pesona Metro most active stock in morning session

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    Pesona Metro Holdings Bhd's shares emerged as the most active in the morning session today following news that the company is acquiring hostel concessionaire Selasih Asli Sdn Bhd (SASB).

  • Corporate  |  JULY 29, 2015 11:58 AM

    AmFIRST REIT gets nod to increase approved fund size

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    AmFIRST Real Estate Investment Trust (AmFIRST REIT) has received the nod from its unitholders to increase its existing approved fund size to 823.68 million units from 686.40 million units.

  • World Biz  |  JULY 29, 2015 11:37 AM

    Chevron to lay off 1,500 workers amid oil price slump

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    Chevron Corp, the second-largest US oil company, said on Tuesday it would lay off 1,500 employees, about 2% of its global work force, as it trims costs to offset declining crude prices.

  • Featured and Exclusive & Opinion  |  JULY 29, 2015 11:30 AM

    Why economists have trouble with bubbles

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    One of the strongest orthodoxies in modern economics is being challenged, and there could be big implications for the state of the profession. The new, rebellious ideas might also help us understand why financial bubbles happen. Economists have realized for …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 11:05 AM

    Despatch rider in 1MDB probe released today

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    A despatch rider who was remanded for four days to facilitate investigations into 1Malaysia Development Bhd (1MDB) has been released by the Magistrate's Court.

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 10:23 AM

    Time magazine advises Obama to avoid Najib

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    US President Barack Obama should steer clear from the Malaysian Prime Minister Najib Abdul Razak, an article published by Time magazine yesterday suggests.

  • Markets  |  JULY 29, 2015 10:08 AM

    KL shares open higher

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    Shares on Bursa Malaysia traded sideways in early trade today on concerns over weak global sentiment and China’s economic growth amid softer commodity prices. At 9.19 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.52 of a point lower at 1,699.18 …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 10:02 AM

    Nur Jazlan slammed for putting off 1MDB hearing

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    Public Accounts Committee (PAC) chief Nur Jazlan Mohamed has come under heavy fire for postponing the hearing into 1Malaysia Development Bhd (1MDB) from August to October.

  • Finance & Markets  |  JULY 29, 2015 10:02 AM

    Ringgit opens slightly higher against US dollar

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    The ringgit was slightly higher against the US dollar in early trade today on mild demand for the local note as some investors remained cautious on the greenback. At 9.25 am, the ringgit was quoted at 3.8101/8130 against the US dollar from 3.8130/8150 …

  • World Biz  |  JULY 29, 2015 9:47 AM

    NZ: Dairy trade impasse holds up TPP

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    The United States, Canada and Japan have to make concessions on dairy trade before a wider Pacific trade deal can be wrapped up, New Zealand’s agricultural trade envoy said on Tuesday. Mike Petersen, a farmer who represents the interests of …

  • Markets & World Biz  |  JULY 29, 2015 9:30 AM

    Greek bourse to reopen Wednesday or Thursday

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    The Greek stock market will reopen on Wednesday or Thursday after a month-long shutdown but with restrictions on trading by local investors at the request of the European Central Bank (ECB), the Greek securities regulator chairman told Reuters on Tuesday. …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 9:30 AM

    Ikea Cheras to create 300 new jobs

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    Over 300 job opportunities are expected to be created by Ikea Malaysia following the opening of its new store in Cheras by end of this year. Retail Director of Ikea Malaysia, Singapore and Thailand, Mike King in a statement here today said …

  • World Biz  |  JULY 29, 2015 9:02 AM

    Twitter shares fall as growth of monthly users slows

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    Twitter Inc’s shares fell more than 11% in extended trade on Tuesday after the microblogging company said its number of monthly average users grew at the slowest pace since it went public in 2013. “This is unacceptable and we’re not …

  • Commodities  |  JULY 29, 2015 8:05 AM

    Gold edges higher as investors await Fed meeting

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    Gold firmed on Tuesday but remained near 5-1/2-year lows as markets braced for this week’s Federal Reserve meeting, at which policymakers are expected to give further clues on the timing of a US rate increase. The Fed suggested earlier this …

  • Enterprise & Issues  |  JULY 29, 2015 8:00 AM

    Growing an international presence

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    Exabytes CEO and founder Chan Kee Siak had it relatively smooth going when he transitioned from being a college student to a full-time technopreneur. In this article, he tells KINIBIZ of the crazy thing he did in the beginning that inadvertently ended up killing most of his competition and how the company grew forward.

  • Finance & Markets  |  JULY 29, 2015 7:55 AM

    Dollar rebounds against euro, yen as focus turns to Fed

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    The US dollar rebounded against the euro and yen on Tuesday after traders took profits from gains in those currencies and favored the greenback on expectations that the Federal Reserve could take a hawkish bias in a policy statement on …

  • Commodities  |  JULY 29, 2015 7:44 AM

    Oil steadies after 4-day loss; US inventory draw eyed

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    Oil prices steadied on Tuesday, with Brent recovering from near six-month lows and US crude settling more than 1% higher as bets for a drop in US stockpiles offset concern over a global oil supply glut and China’s stock market …

  • StockStalk  |  JULY 29, 2015 7:30 AM

    Homeritz: Homely business, sexy dividends

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    Upholstered furniture maker Homeritz Corp Bhd sees relatively little coverage from research houses but investors seem to have found plenty of positives, judging by a doubling of its share prices over the past year. Is it too late to join the party?

  • Featured and Exclusive & Markets  |  JULY 29, 2015 7:23 AM

    Wall Street ends sharply higher as China jitters ebb

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    US stocks ended sharply higher on Tuesday, breaking a five-day losing streak as attention shifted from trouble in Chinese equities to US corporate earnings and to speculation the first Federal Reserve interest rate hike may not come until December. The …

  • Property  |  JULY 29, 2015 1:21 AM

    Cameron vows to stop money launderers buying UK homes

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    Overseas criminals must not be allowed buy UK homes with “plundered or laundered cash,” Prime Minister David Cameron says. Cameron expressed concern on Tuesday that anonymous shell companies are being used to buy real estate in Britain. More than 12,500 …