• Corporate  |  AUGUST 2, 2015 7:10 PM

    Top Glove eyes RM2.5 bil revenue

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    Top Glove Corp Bhd, the world’s biggest rubber glove manufacturer, is eyeing a revenue of RM2.5 billion this year, supported by higher sales. Chairman Tan Sri Lim Wee Chai said the group’s annual growth rate was about 27% and he was optimistic the …

  • World Biz  |  AUGUST 2, 2015 1:05 PM

    London borough seeks crackdown on supercars

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    On one of London’s most exclusive streets, the drivers of some expensive cars are getting ready to leave their parking spots. The owners of the Lamborghini and KTM X-Bow edge onto the road and drive off, the roar of their …

  • Opinion  |  AUGUST 2, 2015 12:00 PM

    Can the euro be repaired?

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    PARIS – When Wolfgang Schäuble, Germany’s finance minister, recently tabled the option of a Greek exit from the euro, he wanted to signal that no member could abstain from the monetary union’s strict disciplines. In fact, his initiative triggered a …

  • Corporate  |  AUGUST 2, 2015 8:53 AM

    Najib says Qatar, China interested in 1MDB assets

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    Prime Minister Najib Razak said Qatar and China have expressed an interest in the assets of debt-laden state fund 1Malaysia Development Bhd (1MDB). 1MDB, the centre of several investigations over graft and its management of funds, is seeking to offload …

  • Corporate  |  AUGUST 1, 2015 9:47 PM

    Creating apps to connect people

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    Come end of August, Asian developers are set to face challenge each other in a competition to create apps that can, not only to get more people significantly connected, but also to provide a friendlier environment in the era of Internet of Things …

  • World Biz  |  AUGUST 1, 2015 9:39 PM

    US$600 mil mine sold for just a dollar in ruins

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    The destructive force of a collapse in world coal prices has been underscored by the sale of a mine valued at AUS$860 million (US$631 million) three years ago for just a dollar. Brazilian miner Vale SA and Japan’s Sumitomo Corp. …

  • Commodities  |  AUGUST 1, 2015 9:27 PM

    Rubber market to trade cautiously

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    The Malaysian rubber market is expected to trade cautiously next week against the backdrop of volatile currency movements and declining crude oil prices, dealers said. A dealer said the rubber performance would also track the performance of other commodities and regional futures markets …

  • Commodities  |  AUGUST 1, 2015 9:24 PM

    Tin price to stay at current levels

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    Tin price on the Kuala Lumpur Tin Market (KLTM) is likely to remain at current levels next week, buoyed by continued buying support by Japanese traders. A dealer said the price of the metal was expected to hover around US$16,600 per tonne. “Continuing …

  • Corporate & Featured and Exclusive  |  AUGUST 1, 2015 3:20 PM

    MITI: M’sia to continue TPPA negotiations

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    Malaysia will continue to negotiate the Trans-Pacific Partnership Agreement (TPPA) based on the mandate of defending and promoting the country's interest.

  • Featured and Exclusive & World Biz  |  AUGUST 1, 2015 2:00 PM

    FB to use web-connected aircraft to expand Net access

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    Facebook Inc’s plan for connecting rural areas to the Internet involves using balloons to lift drones to an altitude of 90,000 feet (27,400m), where they will fly for up to three months and transmit information using lasers.

  • Opinion  |  AUGUST 1, 2015 12:00 PM

    The profit-sharing economy

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    BERKELEY – Over the last 35 years, real wages in the US failed to keep pace with productivity gains; for the typical non-farm worker, the latter grew twice as fast as the former. Instead, an increasing share of the gains …

  • Featured and Exclusive & World Biz  |  AUGUST 1, 2015 11:16 AM

    TPP talks conclude without deal, vow to keep working

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    Pacific Rim trade ministers failed to clinch a deal on Friday to free up trade between a dozen nations after a dispute flared between Japan and North America over autos, New Zealand dug in over dairy trade and no agreement was reached on monopoly periods for next-generation drugs.

  • Commodities  |  AUGUST 1, 2015 11:06 AM

    Gold futures on Bursa to stay bearish

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    Gold futures contract on Bursa Malaysia Derivatives is likely to remain bearish next week amid speculation on the timing of the US interest rate hike, a dealer said. Phillip Futures Sdn Bhd Dealer Ong Su Ling said the lower gold price could, however, …

  • Finance  |  AUGUST 1, 2015 10:54 AM

    Ringgit to remain steady against USD

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    The ringgit is expected to remain steady at the current level of 3.81 level against the US dollar next week due to lack of market moving factors. Despite the generally weak market sentiment, a dealer said the ringgit remained supported as investors,unnerved by …

  • Markets  |  AUGUST 1, 2015 10:49 AM

    Bursa to trend sideways, 1,700 to 1,740 points

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    Bursa Malaysia is likely to trend sideways  next week with the benchmark index continuing to be confined within the 1,700 points and 1,740 points range, says Affin Hwang Investment Bank Vice-President and Head of Retail Research Nazri Khan. “Given the deep price …

  • Editor's Picks & Featured and Exclusive  |  AUGUST 1, 2015 10:00 AM

    We need a judicial review on controversial AG removal

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    [email protected]

    Whichever way we look at it, this is abrupt. The bottomline is that the prime minister has decided to appoint a new person to the only position which can bring prosecution against his person.

  • World Biz  |  AUGUST 1, 2015 8:46 AM

    Clintons made nearly US$141 mil, 2007-2014

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    Former first couple Bill and Hillary Rodham Clinton earned nearly 141 million dollars between the years of 2007 and 2014, according to tax records released Friday by Hillary Clinton’s presidential campaign. The tax returns for the former president and his …

  • World Biz  |  AUGUST 1, 2015 8:36 AM

    Greek stock market to reopen on Monday

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    The Greek stock market is set to reopen on Monday as talks continue between Greece’s finance and economy ministers with the representatives of the country’s creditors on a new multi-billion-euro bailout. The Athens Stock Market will be open for the …

  • Markets  |  JULY 31, 2015 11:02 PM

    Chua says ringgit’s fall due to external factors

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    The ringgit’s current decline is due to external factors, including the fall in global oil prices and pressure from the US dollar. Deputy Finance Minister Chua Tee Yong said oil prices fell to below US$50 per barrel in July. “In respect of the …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 10:45 PM

    MAHB surprised by AirAsia’s letter of demand

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    Malaysia Airports Holdings Bhd (MAHB) confirms receiving a letter of demand (LOD) from AirAsia Bhd in respect of purported loss and damages incurred in its operation at the klia2 and Low-Cost Carrier Terminal (LCCT). “We are surprised by some of these assertions about …

  • Corporate  |  JULY 31, 2015 9:24 PM

    KPDNKK not involved in determining fuel prices

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    The Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) is not involved in determining the rise and fall of petrol and diesel prices, says its new Minister Hamzah Zainudin. He said the function of the ministry is to see users’ acceptance whether the fuel …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 9:14 PM

    FGV to help develop palm oil’s downstream in Indonesia

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    Felda Global Venture Holdings Bhd (FGV) will lead efforts to develop a special economic zone for palm oil downstream processing in Indonesia. Deputy Minister in the Prime Minister’s Department Razali Ibrahim said discussions on the project with the Indonesian government began today, specifically on …

  • Markets  |  JULY 31, 2015 9:04 PM

    Greek stock market aims to reopen on Monday

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    Greece’s stock market aims to reopen on Monday following a five-week shutdown but is still awaiting a Finance Ministry decree detailing new trading rules, the Greek securities regulator’s chairman told Reuters on Friday. The Athens Stock Exchange (ASE) has been …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 8:58 PM

    Petrol, diesel prices to drop by 10 sen

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    Retail prices of RON95, RON97 petrol, and diesel will be reduced by 10 sen a litre for August 2015, effective midnight. The new price after the goods and services tax for RON95 is RM2.05 per litre, while the price for …

  • Corporate  |  JULY 31, 2015 8:55 PM

    Azmin urges PKNS to broaden revenue base

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    Selangor Menteri Besar Mohamed Azmin Ali urges the Selangor State Development Corp (PKNS) to create new revenue streams to generate continuous income base. Mohamed Azmin, who is PKNS chairman, said the corporation, as a developer of residential, commercial, and mixed developments, should dispense …

  • Corporate  |  JULY 31, 2015 7:33 PM

    Hamad Kama Piah ceases to be Sime Darby deputy chair

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    Hamad Kama Piah Che Othman has ceased to be the deputy chairman of Sime Darby Bhd following his resignation as a director of the conglomerate. Hamad Kama Piah, aged 64, has also ceased to be a member of the nomination & remuneration …

  • Corporate  |  JULY 31, 2015 7:25 PM

    Yong Tai to be suspended on Aug 3 pending announcement

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    Trading in the shares of property developer Yong Tai Bhd will be suspended for one market day on Aug 3, pending a material announcement. According to its filing today, Yong Tai said the suspension would take effect from 9am to 5pm. The company …

  • Corporate  |  JULY 31, 2015 7:03 PM

    AirAsia maintains 79% load factor for 2Q

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    AirAsia Bhd’s load factor for second quarter of 2015 (2Q15) was maintained at 79%, with increases across the region except in Indonesia. The group also saw a 10% year-on-year increase in the number of passengers carried to 12.4 million, in …

  • Singapore  |  JULY 31, 2015 6:44 PM

    Noble extends worst rout since 1999 amid SGX warning

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    Noble Group Ltd plunges to extend its biggest monthly drop in 16 years after the Singapore bourse issued a warning on the company’s shares amid a slump in commodity prices. The trading firm sank 12.5% to 45.5 Singapore cents in …

  • Corporate  |  JULY 31, 2015 6:33 PM

    Takaso acquires 51% stake in Masbe Coffee for RM5 mil

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    Takaso Resources Bhd, a rubber and babycare products manufacturer, is acquiring a 51% stake for RM5 million in Masbe Coffee Sdn Bhd (MCSB). The acquisition enables Takaso to venture into residential and commercial development as MCSB intends to develop a 0.15ha land in …

  • Corporate  |  JULY 31, 2015 6:28 PM

    SAM invests RM190 mil to boost production

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    SAM Engineering & Equipment (M) Bhd (SAM Malaysia) is reinvesting another US$50 million (RM190 million) on new machines to produce components for the aviation sector. SAM chairman Philip Yeo said over the last few years, SAM Malaysia has bought new engines and …

  • Commodities  |  JULY 31, 2015 6:17 PM

    Rubber market ends lower

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    The Malaysian rubber market ended lower today, dragged down by sluggish demand on the back of weaker crude oil prices, a dealer says. The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 fell 0.5 sen to close at 527 sen a …

  • Corporate  |  JULY 31, 2015 6:11 PM

    SC charges two for Ranhill insider trading

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    The Securities Commission (SC) charges two individuals with insider trading of Ranhill Power Bhd shares under section 89E(2)(a) of the Securities Industry Act 1983, which brings with it a punishment of fines of up to RM1 million, 10 years in …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 6:02 PM

    AirAsia demands RM409 mil damages from MAHB

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    [email protected]

    Budget airline AirAsia Bhd is demanding RM409 million from Malaysia Airports Holdings Bhd and Malaysia Airports (Sepang) Sdn Bhd (MAHB) for loss and damages incurred operating from klia2 as well as from the Low-Cost Carrier Terminal (LCCT). “AirAsia in its …

  • Featured and Exclusive & Markets  |  JULY 31, 2015 5:55 PM

    Ringgit posts 3rd monthly loss as 1MDB hurts sentiment

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    Malaysia’s ringgit dropped for a third month and reached a 16-year low as a political scandal linked to a state investment company weighed on investor sentiment already flagging from a slump in oil. A multiple probe into the finances of …

  • Featured and Exclusive & Markets  |  JULY 31, 2015 5:47 PM

    KL shares end higher; CI up 23.22 pts

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    Bursa Malaysia ended higher on a technical rebound following bargain hunting ahead of the weekend, a dealer says. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 23.22 points, or 1.37%, to 1,723.14 after fluctuating between 1,701.31 and 1,723.14 throughout the day. …

  • Corporate  |  JULY 31, 2015 5:41 PM

    REDtone posts higher FY15 PBT of RM14.48 mil

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    REDtone International Bhd’s pre-tax profit was up by RM2.11 million to RM14.48 million for the financial year ended May 31, 2015 from RM12.37 million registered in the previous financial year. Revenue was also higher at RM150.37 million from RM141.76 million previously. In a …

  • Markets  |  JULY 31, 2015 5:37 PM

    Ringgit ends weaker against US dollar

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    The ringgit ended the week on an easier note in line with the bearish performance of most emerging Asian currencies. At 5pm, the ringgit was quoted at 3.8230/8260 against the greenback from 3.8150/8170 yesterday. A dealer said regional currencies, including the ringgit, …

  • World Biz  |  JULY 31, 2015 5:28 PM

    Google refuses order to apply ‘right to be forgotten’ globally

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    Google Inc is refusing to bow to an order from the French privacy watchdog to scrub search results worldwide when users invoke their “right to be forgotten” online, it says, exposing itself to possible fines. The French data protection authority CNIL …

  • World Biz  |  JULY 31, 2015 5:25 PM

    IAG focus on costs as competition intensifies

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    IAG, owner of British Airways and Iberia, said on Friday it will continue to focus on driving down costs as competition intensifies both within Europe and as rivals put on more capacity on its all-important transatlantic routes. IAG, which is …

  • Property  |  JULY 31, 2015 5:14 PM

    Melbourne, Sydney property bubble normal: Nobel winner

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    Sydney and Melbourne property prices have grown at more than 15 % per annum over the last three years, outperforming any other Australian markets and creating a bubble, says Nobel Prize winning economist Professor Vernon Smith. Smith was speaking at …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 4:59 PM

    MACC says ‘charge sheet’ against PM unfounded

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    The existence of a purported charge against Prime Minister Najib Abdul Razak is unfounded because the investigation on SRC International Sdn Bhd is still going on, says the Malaysian Anti-Corruption Agency (MACC). In a statement released today, the commission said the investigation papers on …

  • Singapore  |  JULY 31, 2015 4:52 PM

    Noble Group in worst rout since 1999

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    Noble Group Ltd plunged to extend its biggest monthly drop in 16 years after the Singapore bourse issued a warning on the company’s shares amid a slump in commodity prices. The trader sank 12% to 46 Singapore cents in volume …

  • Featured and Exclusive & World Biz  |  JULY 31, 2015 4:48 PM

    Samsung drops RM38 bil in market cap on slow S6 sales

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    Sluggish sales of Samsung Electronics Co’s Galaxy S6 smartphones helped trigger a share decline that wiped more than US$10 billion (RM38.2 billion) from its market value in July – almost twice the capitalisation of local rival LG Electronics Inc. The …

  • Corporate  |  JULY 31, 2015 4:38 PM

    Moody’s: MAHB’s 1H results within expectations

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    Moody’s Investors Service says Malaysia Airports Holdings Bhd’s (MAHB) first half of financial year 2015 (1H15) results are in line with expectations, and will have no impact on its “A3″ issuer rating. “The rating outlook remains positive, reflecting the outlook for the Malaysian …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 4:10 PM

    MH370 kins renew talk of compensation

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    The discovery of plane debris washed up on a remote island in the southern Indian Ocean has rekindled efforts by family members of passengers on board a missing Malaysia Airlines flight to seek greater compensation, aviation lawyers says. Malaysia Airlines Flight …

  • OTHERS  |  JULY 31, 2015 4:10 PM

    Unisem: 1H15 profit doubles but ‘below expectations’

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      Despite surging earnings halfway through its financial year ended Dec 31, 2015 (FY15), Unisem (M) Bhd’s financial performance for the six-month period to-date came in below expectations, say analysts. According to a regulatory filing yesterday, Unisem reported RM298.7 million …

  • World Biz  |  JULY 31, 2015 3:54 PM

    Consumer spending bolsters US 2Q growth

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    US economic growth accelerated in the second quarter as solid consumer spending offset the drag from weak business spending on equipment, suggesting a steady momentum that could bring the Federal Reserve closer to hiking interest rates this year. Gross domestic …

  • Corporate  |  JULY 31, 2015 3:43 PM

    CIMB Niaga sees 90% net profit fall in 1H15

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    CIMB Niaga, which is a 97.9% owned entity of CIMB Group Holdings Bhd, has recorded a 90% fall in net profit in the first half of 2015 on the back of a slowdown of the Indonesian economy and a challenging business environment.

  • Markets & OTHERS  |  JULY 31, 2015 3:36 PM

    KL shares higher at mid-afternoon

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    Bursa Malaysia was higher at mid-afternoon today lifted by gains on selected key heavyweights, dealers said. At 3 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) surged 15.46 points to 1,715.38. The broader market was positive with gainers outpacing losers by …