• Corporate  |  JUNE 2, 2015 10:55 PM

    DBKL plans bicycle lanes underneath MRT tracks

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    The Kuala Lumpur City Hall (DBKL) is proposing to turn land underneath the mass rapid transit (MRT) tracks into bicycle lanes to encourage more city folks to use bicycles as an alternative mode of transport. KL mayor Ahmad Phesal Talib said the proposal is …

  • Corporate  |  JUNE 2, 2015 10:39 PM

    Scanwolf suspends directors, probes possible irregularities

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    Plastic extrusion manufacturer Scanwolf Corp Bhd forms an investigating committee and suspends its director and financial controller pending full investigation into discrepancies over preliminary findings of “possible irregularities” in the company’s affairs. In its filing to Bursa, Scanwolf announced that it has suspended its director and …

  • Corporate  |  JUNE 2, 2015 10:33 PM

    MAS says MH194 landed safely despite deflated tyre

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    Malaysia Airlines’ (MAS) flight MH194 on May 31, 2015, from Kuala Lumpur to Mumbai made a safe landing at Mumbai airport with one deflated tyre. “During the landing roll, debris from the deflated tyre had damaged two other wheels,” MAS said in a …

  • Economy & Singapore  |  JUNE 2, 2015 9:13 PM

    S’pore May PMI expands, hits six-month high

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    Singapore’s manufacturing activity expanded for the first time in six months in May, helped by a pick-up in new orders and production, although the electronics sector contracted for the second straight month, a survey shows on Tuesday. The Singapore Institute …

  • Corporate  |  JUNE 2, 2015 8:53 PM

    HK firm in talks to acquire all Cocoaland businesses

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    Cocoaland Holdings Bhd agrees to enter into discussions with Hong Kong-based First Pacific Co Ltd, which has offered to acquire the former’s businesses for RM463.32 million. In a filing to Bursa Malaysia, Cocoaland said First Pacific has offered to acquire all the businesses and …

  • World Biz  |  JUNE 2, 2015 8:45 PM

    Nestle US to drop artificial flavours, cut salt

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    Nestle USA says on Tuesday it will remove artificial flavours and reduce salt by 10% in its frozen pizza and snack products by the end of this year. The move will include more than 250 products sold under the Digiorno, Tombstone, …

  • Corporate & Featured and Exclusive  |  JUNE 2, 2015 8:32 PM

    Khazanah: NewCo to remain full-service int’l carrier

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    “The network will also have an expanded reach into Africa, the US, and Europe via potential partnerships that are being explored,” Khazanah says in a statement today.

  • Corporate & Featured and Exclusive  |  JUNE 2, 2015 7:49 PM

    Bursa rejects Biosis regularisation plan

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    Bursa Malaysia Securities Bhd has rejected Biosis Group Bhd’s proposed regularisation plan, and this will result in the suspension of trading in the company’s shares effective June 10, 2015. In a filing to Bursa Malaysia today, Biosis said the company will also …

  • Corporate  |  JUNE 2, 2015 7:37 PM

    M’sian Shipping Master Plan draft ready by year-end

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    The Malaysian Shipping Master Plan draft, which seeks to identify issues and make recommendations on the criticality of the shipping industry, will be ready by year-end, Transport Minister Liow Tiong Lai says. He said the master plan will elaborate and recommend appropriate …

  • Corporate  |  JUNE 2, 2015 7:30 PM

    Jetstar Asia to shift to klia2 from July 8

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    All Jetstar Asia flights arriving and departing from the Kuala Lumpur International Airport (KLIA) in Malaysia will be shifted to the klia2 terminal from July 8, 2015. klia2 is located less than 2km away from the KLIA Main Terminal and is accessible from KL …

  • Corporate  |  JUNE 2, 2015 7:04 PM

    Kulim plans mixed development in Pengerang

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    Kulim (Malaysia) Bhd plans to develop mixed property projects on two of its oil palm plantation land in Pengerang, Kota Tinggi. Chairman Kamaruzzaman Abu Kassim said the oil palm plantations at Ladang Sungai Papan, Tanjung Belungkor and Ladang Siang, Desaru span 8,000 hectares …

  • Commodities & World Biz  |  JUNE 2, 2015 6:57 PM

    Big oil’s plan to become big gas

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    Oil companies that have pumped trillions of barrels of crude from the ground are now saying the future is in their other main product: natural gas, a fuel they’re promoting as the logical successor to coal. With almost 200 nations …

  • Economy & Featured and Exclusive  |  JUNE 2, 2015 6:39 PM

    MOF to meet Fitch on M’sia’s economy sustainability

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    The Finance Ministry is expected to meet representatives of Fitch Ratings Agency later today to convince them that Malaysia’s economy is still sustainable and should be viewed positively, says Treasury secretary-general Mohd Irwan Serigar Abdullah. He said the agency, which currently rates Malaysia …

  • Featured and Exclusive & Finance  |  JUNE 2, 2015 6:28 PM

    Greece tells lenders to accept ‘realistic’ plan sent

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    Greece has sent creditors a “comprehensive” and “realistic” package of reforms for consideration and is calling on Europe’s leaders to accept it so a long-awaited deal can be struck, Prime Minister Alexis Tsipras says on Tuesday. Tsipras said the proposal was …

  • Corporate & Featured and Exclusive  |  JUNE 2, 2015 6:21 PM

    RAM calls ‘stable’ outlook on banking sector

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    RAM Ratings assigns a stable outlook on the Malaysian banking sector, which it says reflects its robust capitalisation levels and sturdy loan quality. Financial institution ratings co-head Sophia Lee said the stable outlook also recognises Bank Negara Malaysia’s track record of effective banking regulation and …

  • Commodities  |  JUNE 2, 2015 6:13 PM

    Rubber market ends higher

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    Natural rubber prices on the Kuala Lumpur rubber market closed firmer today on the back of a weaker ringgit, dealers say. A dealer said buying momentum extended from last week as the ringgit continued to weaken against the US dollar following declining …

  • Markets  |  JUNE 2, 2015 5:40 PM

    Ringgit ends lower against US dollar

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    The ringgit was down at today’s close due to lack of demand, dealers say. At 5pm, the local unit was lower at 3.6970/7000 from 3.6820/6850 on Monday. Forex Time chief market analyst Jameel Ahmad said there is a correlation in the currency …

  • Markets  |  JUNE 2, 2015 5:34 PM

    KL shares turn lower at close on last-minute selling

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    Share prices on Bursa Malaysia closed mixed as last-minute selling in selected heavyweights limited gains, dealers say. Meanwhile, in a filing to Bursa Malaysia today, The Nomad Group announced that its shares will be suspended from 9am on June 18, 2015. The company …

  • World Biz  |  JUNE 2, 2015 5:17 PM

    Lenovo replaces head of smartphone division

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    Lenovo Group Ltd has replaced the head of its smartphone unit, a critical business division that has seen its China sales tumble as Apple Inc and other high-end phone makers win over customers with sleeker product offerings.

  • Corporate  |  JUNE 2, 2015 5:15 PM

    TSH to focus on cost reduction, yield increase

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    Sabah-based plantation group TSH Resources Bhd will focus on reducing production cost and increasing yield to boost earnings this year. Chairman Kelvin Tan said while this year will be challenging due to the volatility in crude palm oil prices, TSH is confident of …

  • Corporate  |  JUNE 2, 2015 5:10 PM

    Sona-Ophir talks discontinued

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    [email protected]

    Sona Petroleum Bhd and Ophir Energy Plc mutually agree to discontinue discussions concerning the assets of Salamander Energy (Bualuang) Ltd. The reason cited for this mutual termination of talks was that Salamander’s assets are now less attractive to Sona’s qualifying acquisition …

  • Corporate  |  JUNE 2, 2015 4:50 PM

    MSM aims to control midstream sugar market

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    MSM Malaysia Holdings Bhd aims to control the Singapore and a majority of Malaysia’s midstream sugar market with the completion of its refinery in Tanjung Langsat, Johor. President and group chief executive officer Sheikh Awab Abod said construction of the refinery will begin in …

  • Launches  |  JUNE 2, 2015 3:31 PM

    AirAsia flies to Goa, India

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    AirAsia Bhd today announced its fourth unique route in a month, connecting Kuala Lumpur to Goa, India with three weekly flights commencing Aug  27, 2015. This is also its second route to India launched this year after Kuala Lumpur – …

  • Corporate  |  JUNE 2, 2015 3:31 PM

    Miti eyes 20% rise in bumi vendor registrations

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    The International Trade and Industry Ministry (Miti) expects a slight increase of 20% in the registration of new vendors under the Bumiputera Vendor Development programme (PPV) this year due to a weak oil and gas sector. Minister Mustapa Mohamed said it would be very …

  • Markets  |  JUNE 2, 2015 3:24 PM

    KL shares slightly higher at mid-afternoon

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    Shares on Bursa Malaysia remain in the positive territory on growing buying momentum in heavyweights stocks, dealers say. As at 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.45 points to 1,744.86. Market breadth remained positive with gainers beating losers 461 …

  • Corporate  |  JUNE 2, 2015 3:20 PM

    Internet bandwidth usage jumps over 200% last year

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    Malaysia recorded over 200% jump in Internet bandwidth consumption to 760,331 megabits per second (Mbps) in 2014 from 349,277 Mbps in 2013, the Malaysian Internet Exchange (MyIX) says. MyIX, a non-profit organisation initiated by the Malaysian Communication and Multimedia Commission (MCMC), attributed the increase …

  • Markets  |  JUNE 2, 2015 3:12 PM

    What will happen to traders who haven’t seen a rate hike?

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    Magdy El Mihdawy remembers exactly where he was when the stock market tanked in 2009. He was on Spring Break in Florida – as a 22-year-old undergrad. Today, El Mihdawy is part of a Wall Street demographic whose own trial by …

  • Featured and Exclusive & World Biz  |  JUNE 2, 2015 2:41 PM

    Hedge fund giant tells Hillary Clinton to cut the ‘crap’

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    In the early days of Hillary Clinton’s latest presidential campaign, hedge fund managers have taken it on the chin. “There’s something wrong when hedge fund managers pay lower tax rates than nurses or the truckers that I saw on I-80 as …

  • Economy & Featured and Exclusive  |  JUNE 2, 2015 2:22 PM

    India cuts rates for 3rd time to put growth on firmer footing

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    India’s central bank cut interest rates for a third time this year on Tuesday, taking advantage of subdued inflation to give more support to an economy that many economists doubt is doing as well as latest impressive growth numbers suggest. …

  • Corporate  |  JUNE 2, 2015 2:10 PM

    Petronas leads structural change in upstream O&G

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    Petronas is leading an industry-wide effort involving 25 petroleum arrangement contractors (PACs) to embrace a structural change in the oil and gas’ (O&G) upstream business environment in Malaysia. Chairman Sidek Hassan said the initiative, namely the Cost Reduction Alliance (Coral 2.0), is aimed at …

  • World Biz  |  JUNE 2, 2015 1:55 PM

    Thai AirAsia X cuts revenue target on flight bans

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    Thailand’s largest long-haul, low-cost carrier Thai AirAsia X says on Tuesday it has cut its 2015 revenue target to 5 billion Thai baht (RM545.1 million) from 6.5 billion baht due to the impact from flight bans. Japan and South Korea imposed bans …

  • Commodities  |  JUNE 2, 2015 1:45 PM

    KLTM closes unchanged at US$15,550 a tonne

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    The tin price on the Kuala Lumpur Tin Market (KLTM) closed unchanged at US$15,550 a tonne today and despite the fall in the metal price on the London Metal Exchange (LME), a dealer says. The tin price on LME declined by US$225 …

  • World Biz  |  JUNE 2, 2015 1:40 PM

    Etihad says US carriers want to stifle airline competition

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    Etihad Airways PJSC, one of three Persian Gulf airlines accused by US carriers of flooding the skies with unfairly subsidised flights formally denies the allegation, says the US rivals are trying to stifle competition that has greatly benefited consumers. The …

  • Corporate & Property  |  JUNE 2, 2015 1:25 PM

    Hua Yang to develop Selayang land in 4Q16

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    Property developer Hua Yang Bhd expects to start developing its land in Selayang in the fourth quarter of 2016 with completion set for between five and seven years. The resolution for the proposed acquisition of the 2.43-hectare land for RM120 million was passed …

  • Markets  |  JUNE 2, 2015 1:14 PM

    KL shares almost flat at mid-day

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    Shares on Bursa Malaysia retreated from earlier losses to end the morning session slightly lower today as buying interest emerged in heavyweights stocks, dealers say. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI), was down 0.14 point to 1,743.27, …

  • World Biz  |  JUNE 2, 2015 12:45 PM

    Ford to make 40,000 more vehicles by cutting downtime

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    Ford Motor Co said it will produce nearly 40,000 additional vehicles by reducing summer shutdowns at its North American plants to one week from two.

  • Corporate  |  JUNE 2, 2015 12:40 PM

    AirAsia X inks promotion deal with Australia’s FLT

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    AirAsia X, the long-haul low-cost carrier, and an affiliate of AirAsia Group, has signed an agreement with The Flight Centre Travel Group (FLT) to strengthen its distribution channel in Australia. Under the agreement, FLT and AirAsia Group will work together proactively to promote …

  • World Biz  |  JUNE 2, 2015 12:36 PM

    Hyundai shares slide 9% to lowest level in almost 5 years

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    Hyundai Motor Co shares slid 9% to their lowest levels in nearly five years on Tuesday, hit by lacklustre sales in the US and China and as a weakening yen against the won rekindled worries about exports.

  • Commodities  |  JUNE 2, 2015 12:29 PM

    Indonesia to seek oil supply deals at Opec meeting

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    Indonesia will meet with Middle East oil producers on the sidelines of an Opec meeting in Vienna this week to negotiate possible long-term crude supply agreements for its refineries, a senior government official said. The Southeast Asian country, which is …

  • Featured and Exclusive & Opinion  |  JUNE 2, 2015 12:00 PM

    The business case for sustainability

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    BERKELEY – Investors worldwide are increasingly seeking investment opportunities that promise to bring environmental and social benefits, in addition to market rates of return. If this trend continues, with the advancement of environmental or social objectives enhancing an investment’s value, …

  • Corporate  |  JUNE 2, 2015 11:57 AM

    SC files suit against WCT Deputy MD for insider trading

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    The Securities Commission Malaysia (SC) recently filed a suit against three individuals namely Chan Soon Huat, Goh Ching Liong and Leong Ah Chai for insider trading in the shares of WCT Bhd. The SC filed the action against Goh and Leong on …

  • Markets  |  JUNE 2, 2015 11:40 AM

    KL shares remain lower at mid-morning

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    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained slightly lower mid-morning as renewed buying interest emerged in selected heavyweights, a dealer said. As at 11.01 am, the FBM KLCI eased 1.59 points to 1,741.82, after opening 0.07 of a point better at …

  • Corporate & Featured and Exclusive  |  JUNE 2, 2015 11:34 AM

    WCT director denies SC’s insider trading charges

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    [email protected]

    WCT Holdings said its deputy managing director Goh Chin Liong denies the allegations and is seeking legal advice

  • Corporate, Featured and Exclusive, World Biz  |  JUNE 2, 2015 10:20 AM

    Intel to buy Altera for RM61 bil in its biggest deal ever

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    Intel Corp agreed to buy Altera Corp for US$16.7 billion (RM61.1 billion) as the world’s biggest chipmaker seeks to make up for slowing demand from the PC industry by expanding its line-up of higher-margin chips used in data centers. By …

  • Economy, Featured and Exclusive, World Biz  |  JUNE 2, 2015 10:00 AM

    Cautious consumers cast doubt on US growth outlook

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    US consumer spending growth unexpectedly stalled in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter. But after a slump in economic …

  • Finance & Markets  |  JUNE 2, 2015 9:56 AM

    Ringgit opens lower against the US dollar

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    The ringgit was lower against the US dollar, in early trade, on lack of demand for the local unit. At 9.30 am, the local unit traded at 3.6945/6975 from 3.6820/6850 on Monday. Against other major currencies, the ringgit was traded mixed. …

  • Markets  |  JUNE 2, 2015 9:51 AM

    KL shares open slightly higher

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    Share prices on Bursa Malaysia opened slightly higher but tapered off thereafter with gains limited by the bearish performance in most heavyweights, dealers said. As at 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.59 points easier at 1,739.82, after …

  • Corporate & World Biz  |  JUNE 2, 2015 8:37 AM

    Sky News reports HSBC set to cut 20,000 jobs globally

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    HSBC Holdings Plc, Europe’s largest bank, will announce a plan next week to cut thousands of jobs, Sky News reported, citing unidentified people close to the matter. Chief executive officer Stuart Gulliver will disclose a target when he updates shareholders …

  • World Biz  |  JUNE 2, 2015 8:23 AM

    Google says 21% of tech hires in 2014 were women

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    Google Inc said 21% of tech hires last year were women, boosting overall number of women in technical roles by 1%, as part of efforts to increase diversity. The company recently began disclosing the makeup of its workforce after admitting …

  • World Biz  |  JUNE 2, 2015 8:14 AM

    Toronto seeks injunction to stop Uber

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    Taxi drivers packed a courtroom in Canada’s largest city on Monday as Toronto stated its case for the Uber ride-sharing service to be regulated like the traditional cab companies with which it competes. Toronto is seeking an injunction to halt …