• 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 …

  • Commodities & Featured and Exclusive  |  JULY 28, 2015 10:05 PM

    Oil enters bear on US supply, China demand risks

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    Oil declined amid surplus stockpiles in the US and concern about demand in China, the two biggest crude-consuming countries. Brent oil dropped as much as 2.2% on Tuesday after closing more than 20% below its May peak on Monday, meeting …

  • Featured and Exclusive & World Biz  |  JULY 28, 2015 9:42 PM

    VW overtakes Toyota as world’s biggest carmaker

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    Volkswagen (VW) overtakes Toyota as the world’s largest carmaker by sales in the first half year, achieving its long-held ambition three years ahead of target. But staying on top will be a challenge for the German maker of the Golf …

  • Corporate  |  JULY 28, 2015 9:03 PM

    Jiankun inks JV pact to develop land in Petaling

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    Jiankun International Bhd’s wholly-owned unit JKI Development Sdn Bhd and Fivestar Development (Puchong) Sdn Bhd are embarking on a joint-venture pact to develop a land in Petaling, Selangor. Jiankun International, in a filing to Bursa Malaysia today, said the land had been slated …

  • Economy  |  JULY 28, 2015 8:57 PM

    China idles solar power for 1st time amid grid congestion

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    China halted power flows from solar panels for the first time as congestion on its electricity grid prevented renewable energy from reaching customers. About 9% of the nation’s solar capacity sat idle in the first six months of the year, …

  • World Biz  |  JULY 28, 2015 8:52 PM

    Facebook ordered to allow pseudonyms

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    Facebook Inc was ordered by a German privacy watchdog to allow users to have accounts under pseudonyms on the social network. Facebook may not unilaterally change such accounts to the real names of users and may not block them, Johannes …

  • World Biz  |  JULY 28, 2015 8:47 PM

    Gucci owner calls for HK rent cuts as market wilts

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    Luxury companies including Kering SA are demanding lower Hong Kong store rents to reflect the island city’s waning appeal with wealthy Chinese shoppers. The owner of the Gucci brand may close some of its shops there if those costs don’t …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 8:15 PM

    IGP: Edge owner, publisher to be called up again

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    Media group The Edge chairman Tong Kooi Ong and its publisher Ho Kay Tat will be called up again by the federal police to facilitate investigations into articles on 1Malaysia Development Bhd (1MDB), which was published by The Edge Financial Daily. Inspector-general of …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 8:05 PM

    PM: New cabinet line-up will boost public confidence

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    Prime Minister Najib Abdul Razak is confident the new cabinet line-up will increase public confidence in the government and BN ahead of the 14th general election. “Insha’Allah (God willing), I believe that the new cabinet line-up will drive forward the …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 7:59 PM

    I’ll have to relinquish PAC post, says Nur Jazlan

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    Following his appointment as deputy home minister, Nur Jazlan Mohamed says he would have to relinquish his position as Public Accounts Committee (PAC) chief. He also revealed the committee’s hearings concerning 1Malaysia Development Bhd (1MDB) in August will have to …

  • Corporate  |  JULY 28, 2015 7:43 PM

    NGO asks MACC to probe 1BestariNet

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    The Pertubuhan Minda dan Sosial Prihatin submits a memorandum to the Malaysian Anti-Corruption Commission (MACC) seeking an investigation into the 1BestariNet project of the Education Ministry. Its economic advisor Suud Ridzuan handed over the memorandum to MACC integrity policy management officer Kamaruddin Ariffin.

  • Corporate  |  JULY 28, 2015 7:40 PM

    TAS’ FY15 pre-tax profit drops to RM12.93 mil

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    TAS Offshore Bhd’s pre-tax profit for the financial year ended May 31, 2015 (FY15) fell to RM12.93 million from RM34.3 million last year. Revenue, however, rose to RM275.87 million from RM254.27 million previously, the company said in a filing to Bursa Malaysia today. …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 7:31 PM

    MAHB: No compromise on safety at airports

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    Malaysia Airports Holdings Bhd (MAHB) is committed to ensure that operations at all its airports, including klia2 terminals, apron, and taxiways are safe. In a statement today, MAHB said the differential settlement at klia2’s apron and taxiways is only affecting 2.3% of …

  • Commodities  |  JULY 28, 2015 7:24 PM

    Rubber market ends lower

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    The Malaysian rubber market closed lower today following a weaker trend in crude oil prices and a firmer ringgit, dealers say. At 5pm, the local currency was quoted at 3.8130 against the US dollar from 3.8140 recorded on Monday. US benchmark West Texas …

  • Corporate  |  JULY 28, 2015 7:15 PM

    BAT posts lower 2Q pre-tax profit of RM286.88 mil

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    British American Tobacco (M) Bhd’s pre-tax profit for the second quarter ended June 30, 2015 slipped to RM286.88 million from RM330.41 million in the same quarter last year. Revenue declined to RM1.09 billion from RM1.23 billion previously. In a filing to Bursa …

  • Featured and Exclusive & Markets  |  JULY 28, 2015 7:08 PM

    KLCI drops 10 points to close at 1699

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    The FBM KLCI fell 10 points to close the day’s trading in negative territory on the back of a cabinet reshuffle which saw the former deputy prime minister Muhyiddin Yassin being replaced by Ahmad Zahid Hamidi.

  • TigerTalk  |  JULY 28, 2015 7:00 PM

    Join ride-sharing, taxi drivers!

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    With the advent of ride-sharing apps, as well as the turning of the tide (yet again) of Uber winning one of its lawsuits, Tiger ponders if it may be time for taxi drivers here in Malaysia to consider driving for ride-sharing apps.

  • Corporate  |  JULY 28, 2015 6:33 PM

    Globetronic’s 2Q PBT slightly lower at RM20.77 mil

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    Globetronics Technology Bhd’s pre-tax profit for the second quarter ended June 30, 2015 declined to RM20.77 million from RM20.78 million in the same period last year. Its revenue fell to RM89.03 million from RM90.62 million previously. In a fling to Bursa Malaysia …

  • Corporate  |  JULY 28, 2015 6:27 PM

    Fajarbaru unit accepts RM111 mil banking facilities

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    Fajarbaru Builder Group Bhd’s (FBG) 51%-owned indirect unit Fajarbaru-Beulah (Melbourne) Pty Ltd accepts banking facilities of A$39.94 million (RM111.04 million) from Maybank International Labuan branch. In a filing to Bursa Malaysia today, FBG said, as a security for the banking facilities, it …

  • Corporate  |  JULY 28, 2015 6:19 PM

    Country View’s 2Q pre-tax profit falls to RM4.29 mil

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    Country View Bhd’s pre-tax profit for the second quarter ended May 31, 2015 fell to RM4.29 million from RM29.39 million in the same quarter last year. Revenue declined to RM27.52 million from RM46.87 million previously. In a filing to Bursa Malaysia today, …

  • Corporate & Featured and Exclusive  |  JULY 28, 2015 6:12 PM

    AirAsia not moving to KKIA Terminal 1, says Aireen

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    AirAsia Bhd makes a firm decision to remain in Kota Kinabalu International Airport (KKIA) Terminal 2 and declines to move its operation to Terminal 1. Chief executive officer Aireen Omar said the reason why AirAsia had declined to move to Terminal 1 was because …

  • Corporate  |  JULY 28, 2015 6:04 PM

    ‘Automobile makers not ready for B10 biodiesel’

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    Many automobile makers in Malaysia are not ready to support the B10 biodiesel blend (constituting 10% palm oil, 90% diesel) for their manufactured vehicles, according to Malaysian Automotive Association (MAA) president Aishah Ahmad. Asked on a consensus view regarding the …

  • Corporate  |  JULY 28, 2015 5:57 PM

    ‘Felda settlers could be duped by unlicensed bauxite miners’

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    Some Felda Bukit Goh settlers are not only forced to face environmental pollution, they also face the possibility of being cheated by unlicensed bauxite mine operators. Felda Bukit Goh village chief Mat Zahari Derahman said his records showed that about 200 settlers from …

  • Markets  |  JULY 28, 2015 5:43 PM

    Ringgit ends slightly stronger against US dollar

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    The ringgit ended slightly higher against the US dollar today on mild demand for the local note following the greenback’s overnight retreat. At 5pm, the ringgit was quoted at 3.8130/8150 against the US dollar from 3.8140/8160 recorded on Monday. A dealer said investors …

  • World Biz  |  JULY 28, 2015 5:37 PM

    Birkin bags, Apple 1 make good investments

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    Bruce Marchant says he has found the protection he needs against stock market gyrations: in the arms of an amazon in a white bikini. She adorns his vintage poster of the 1958 sci-fi flick ‘Attack of the 50 Foot Woman’, …

  • World Biz  |  JULY 28, 2015 5:12 PM

    Etihad says RM122,000 first-class suite a hit with travellers

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    Even at US$32,000 (RM122,095), people are lining up to book Etihad Airways PJSC’s three-room suite between Abu Dhabi and New York. The Residence, as Etihad calls its over-the-top luxury offering, will be available on New York-Abu Dhabi flights in December …

  • Markets & World Biz  |  JULY 28, 2015 5:04 PM

    Confusion reigns in China’s markets after Monday’s crash

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    It’s days like Monday that reassure Tony Hann he was right to avoid stocks in mainland China. The severity of an 8.5% drop in the Shanghai Composite Index is bad enough, but what irks him the most is not knowing …

  • Corporate  |  JULY 28, 2015 4:55 PM

    Mitsui & Co in JV with Nusajaya Tech Park

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    Tokyo-based Mitsui and Co Ltd enters into a joint-venture (JV) agreement with Nusajaya Tech Park Sdn Bhd to undertake a 10.7ha development, comprising build-to-suit (BTS) properties for lease in Iskandar Malaysia. The project will have an estimated gross development value of RM468 million over four …

  • Corporate & Launches  |  JULY 28, 2015 4:41 PM

    OCBC introduces online savings account

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    OCBC Bank (Malaysia) Bhd introduces the OCBC e-SmartSavers account, an online savings account open to non-customers of the bank. Prior to this, people could only make online applications for online savings accounts at banks with which they already have an …

  • Corporate & OTHERS  |  JULY 28, 2015 4:36 PM

    MHB 2Q15 profit falls to RM17.57 mil

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    Malaysia Marine and Heavy Engineering Holdings Bhd’s (MHB) pre-tax profit decreased to RM17.57 million in the second quarter (Q2) ended June 30, 2015 from RM25.70 million in the same period a year ago. In a filing to Bursa Malaysia, MHB said revenue …

  • Corporate  |  JULY 28, 2015 4:30 PM

    MAA cuts automobile sales forecast by 0.5%

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    The Malaysian Automotive Association (MAA) revises its total industry volume (TIV) forecast for the year 2015, with a 0.5% decrease from its original forecast of 680,000 units made earlier this year, to 670,000 units. This comes on the back of a …

  • Featured and Exclusive & World Biz  |  JULY 28, 2015 4:22 PM

    Greek creditors seek third wave of reforms before loan

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    International creditors want Greece to enact a third wave of politically sensitive reforms before they will release any money to keep the near bankrupt country afloat under a third bailout they began negotiating on Monday. The government of Prime Minister …

  • Commodities  |  JULY 28, 2015 4:03 PM

    Indonesia changes export tax system for palm oil

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    Indonesia has issued a regulation that changes the way export taxes are calculated for crude palm oil and other palm products, a finance ministry official said on Tuesday, and they will now be expressed in dollars rather than a percentage of the palm …

  • Markets  |  JULY 28, 2015 3:49 PM

    KL shares turn lower at mid-afternoon

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    Shares on Bursa Malaysia returned to red after trading marginally higher earlier on selling activity in local stocks, a dealer says. At 3.03pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.65 points lower at 1,704.11. Among the top losers, Kuala Lumpur …

  • Corporate, Featured and Exclusive, Finance  |  JULY 28, 2015 3:44 PM

    AirAsia hires Credit Suisse, CIMB for bond issuance

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    AirAsia Bhd has hired investment banks Credit Suisse and CIMB to help the Malaysia-based budget airline raise at least US$200 million (RM763 million) in convertible bonds at its Indonesian and Philippine associates, people familiar with the deal said. AirAsia’s finances …

  • Commodities  |  JULY 28, 2015 3:34 PM

    KLTM closes US$250 higher at US$15,600 a tonne

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    The Kuala Lumpur Tin Market (KLTM) closed higher at US$15,600 a tonne today, up US$250, in line with the increase in the metal price on the London Metal Exchange (LME). The tin price on the LME rose US$295 to finish at US$15,700 …