• World Biz  |  MAY 24, 2015 9:39 PM

    Fall-off in Indian weddings bodes ill for jewellers

    Story by

    Fewer auspicious days later this year compelled Ramesh Phalke, an auto company employee in India’s Maharashtra state, to hold his daughter’s wedding in May. This bride was lucky because many other weddings will likely be postponed – to the dismay of the country’s jewellers. …

  • Corporate  |  MAY 24, 2015 5:38 PM

    M’sia-Japan trade in 2014 up 1.4%

    Story by

    Malaysia’s total trade with Japan increased by 1.4% in 2014, reaching RM137.45 billion (US$42 billion), said Malaysian Ambassador to Japan Ahmad Izlan Idris. He said Malaysia recorded exports of RM82.71 billion (US$25.26 billion), an increase of 4.4%, while imports from Japan dropped by …

  • Corporate  |  MAY 24, 2015 5:21 PM

    Avoid bankruptcy with good financial planning

    Story by

    The public, especially young people, should have a thorough understanding of financial planning to ensure quality savings, the Malaysian Financial Planning Council (MFPC) said. Its deputy president, Michael Kok Fook On said only with proper financial planning, the public could prepare for a …

  • World Biz  |  MAY 24, 2015 4:55 PM

    Bank of England confirms EU exit research

    Story by

    The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project. The Guardian reported that an aide …

  • World Biz  |  MAY 24, 2015 1:08 PM

    Hanergy undone in a few minutes of frantic trading

    Story by

    Not long after Hanergy Thin Film Power Group began its annual shareholder meeting at a plush Hong Kong hotel this week, the Chinese solar company’s shares went into free fall. After opening down 0.3% at 9.30 am on Wednesday, shares in the manufacturer of …

  • Commodities  |  MAY 23, 2015 6:20 PM

    Sarawak needs 6 palm mall mills

    Story by

    The Plantation Industries and Commodities Ministry will propose to the Sarawak government to allow at least six palm oil mills to be built to cater to the needs of the industry in the state. Its minister, Douglas Uggah Embas said the matter would …

  • World Biz  |  MAY 23, 2015 5:58 PM

    Thai passes first inheritance tax

    Story by

    Thailand’s military government has passed the country’s first inheritance tax bill, as part of tax reforms to broaden the tax base and boost revenue in a lacklustre economy. The bill, approved by the National Legislative Assembly late on Friday, will require inheritors of assets …

  • World Biz  |  MAY 23, 2015 5:50 PM

    S.Korea seeks cooperation with Japan on AIIB

    Story by

    South Korea called on Saturday for deeper cooperation with Japan on a China-led development bank, while Japan remained cautious about the lender, which it and ally the United States have held back from joining. A meeting between the Japanese and South Korean finance ministers …

  • World Biz  |  MAY 23, 2015 4:49 PM

    China and Peru to study transcontinental rail link

    Story by

    China and Peru have agreed to study the feasibility of a controversial 5,300 km (3,300 miles) transcontinental railroad that will connect Peru’s Pacific coast with Brazil’s Atlantic coast, China’s official Xinhua News Agency reported. The agreement came as Chinese Premier Li Keqiang arrived in Peru, …

  • Corporate  |  MAY 23, 2015 1:47 PM

    AmBank Group FY15 pat up 9.3% to RM2,044.6 mil

    Story by

    AMMB Holdings Berhad (AmBank Group or the Group) today announced financial results for the full year of 2015. Profit after tax (PAT) crossed the RM2 billion mark to reach RM2,044.6 million, underpinned by non-interest income and lower allowances. The Group proposed a final …

  • Commodities  |  MAY 23, 2015 1:35 PM

    Rubber to extend gains; increase demand for tyres

    Story by

    The Malaysian rubber market is expected to extend its gains next week in line with demand increase for rubber tyres that would compensate slow economic growth in China. “In addition, top rubber producers’ efforts to boost prices will also give a positive sentiment …

  • Commodities  |  MAY 23, 2015 1:29 PM

    Tin price to trade around US$15,800 a tonne

    Story by

    The tin price on the Kuala Lumpur Tin Market (KLTM) is expected to trade around US$15,800 a tonne level next week, supported by demand from European and Japanese traders. A trader said the performance of the market trendsetter, the London Metal Exchange (LME), …

  • Commodities  |  MAY 23, 2015 1:23 PM

    Gold on Bursa to trade higher

    Story by

    Gold futures contract on Bursa Malaysia Derivatives is likely to be on an uptrend next week, supported by continued buying momentum, a dealer said. Phillip Futures Sdn Bhd dealer Azim Faris Ab Rahim said gold prices were expected to see an upward movement …

  • Finance  |  MAY 23, 2015 1:18 PM

    Ringgit to strengthen against USD

    Story by

    The ringgit is expected to strengthen further next week against the US dollar in the range of between 3.56 and 3.62, riding on weaknesses of the greenback in the global market, an analyst said. “We expect the ringgit to trend higher next …

  • Markets  |  MAY 23, 2015 1:14 PM

    FBM KLCI to consolidate sideways

    Story by

    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is likely to consolidate sideways between 1,800 and 1,780 level next week, weighed down by the hawkish US Federal Reserve statement and weak global economic data. Affin Hwang Investment Bank vice-president and head of retail …

  • Editor's Picks & Featured and Exclusive  |  MAY 23, 2015 10:00 AM

    Rohingya crisis shows up Asean

    Story by
    [email protected]

    The plight of the Rohingya, who have been driven away from their homes for some time, finally caught the imagination of the Malaysian public at large this month. We are now offering aid alongside some of our neighbours. But the …

  • Corporate  |  MAY 22, 2015 10:37 PM

    Petronas never asked to consider TRX

    Story by

    Petronas confirms that it was never asked to look at the Tun Razak Exchange (TRX) development. “In fact, we have sufficient ongoing developments at KLCC, comprising office buildings, a hotel, and extension of retail space being undertaken by KLCC Holdings (our property arm) …

  • Corporate  |  MAY 22, 2015 9:01 PM

    Pos Malaysia posts lower PBT of RM181.31 mil for FY15

    Story by

    Pos Malaysia Bhd’s pre-tax profit for the financial year ended March 31, 2015 fell to RM181.31 million compared with RM223.39 million registered in the same period last year. Revenue rose to RM1.49 billion for the period under review from RM1.43 billion previously, the …

  • Singapore  |  MAY 22, 2015 8:57 PM

    SGX, Zhengzhou bourse to develop commodities markets

    Story by

    Singapore Exchange Ltd (SGX) and China’s Zhengzhou Commodity Exchange plan to collaborate on developing commodities markets, SGX says on Friday. The two exchanges signed a memorandum of understanding to collaborate in areas including development of new commodity derivative products, it said in a statement. SGX’s …

  • Corporate & Featured and Exclusive  |  MAY 22, 2015 8:53 PM

    Liow says AG will audit klia2

    Story by

    An audit of the klia2 airport for low-cost carriers in Sepang will be conducted following the cabinet’s green light, says Transport Minister Liow Tiong Lai. He said the auditor-general will be requested to undertake the task. “The Transport Ministry fully supported the …

  • Corporate  |  MAY 22, 2015 8:41 PM

    AMMB to grow Islamic offerings, SME segment

    Story by

    AMMB Holdings Bhd aims to further grow its Islamic offerings as well as small and medium enterprise (SME) business for the financial year ending March 31, 2016 (FY16), says chief financial officer Mandy Simpson. She said more assets and initiatives will be …

  • Corporate & Property  |  MAY 22, 2015 8:34 PM

    IGB plans more local, overseas projects

    Story by

    Property developer IGB Corp Bhd is planning more mixed development projects in domestic and overseas markets over the next five to eight years with a gross development value of RM10 billion. Group managing director Robert Tan said the company is still “on the …

  • Opinion  |  MAY 22, 2015 8:34 PM

    Global bank FX fine scorecard

    Story by

    The foreign-exchange settlements are very hard to keep straight so I made a little scoreboard of the various fines that various banks have paid to various regulators: I hope it’s comprehensive! But I probably missed some regulator somewhere. Anyway, US$10.3 billion (RM37.1 billion) seems like a lower …

  • Economy  |  MAY 22, 2015 8:24 PM

    AllianceDBS expects 2015 inflation at 3%

    Story by

    AllianceDBS Research Sdn Bhd expects full-year 2015 inflation at 3%, at the low end of its previous estimation of 3% to 3.5%. The April consumer price index (CPI) accelerated to 1.8% year-on-year (y-o-y), up from 0.9% in March, largely attributable to the …

  • Corporate  |  MAY 22, 2015 8:17 PM

    Jaks’ Q1 pre-tax profit rises slightly to RM8.24 mil

    Story by

    Jaks Resources Bhd’s pre-tax profit for the first quarter ended March 31, 2015 rose to RM8.24 million compared with RM7.88 million registered in the same period of last year. Revenue increased 2% to RM111.83 million from RM109.68 million previously, mainly due to higher …

  • Corporate  |  MAY 22, 2015 8:11 PM

    IGB posts higher pre-tax profit of RM129.4 mil in Q1

    Story by

    IGB Corporation Bhd’s pre-tax profit for the first quarter ended March 31, 2015 rose 12% to RM129.4 million compared with RM115.55 million registered in the same quarter last year. Revenue increased 14% to RM334.28 million from RM294.07 million previously, mainly due to higher …

  • Corporate, Featured and Exclusive, Property  |  MAY 22, 2015 8:02 PM

    Sime Darby unconcerned over Liew’s project near Battersea

    Story by
    [email protected]

    Battersea is a BMW, while the other is a mass market which shall not be named, says Sime Darby chief Mohd Bakke

  • Corporate & Featured and Exclusive  |  MAY 22, 2015 7:48 PM

    Sime Darby lowers forecast, says will miss KPI this year

    Story by
    [email protected]

    Plantation-based conglomerate Sime Darby Bhd is now eyeing at least RM2 billion in net profit for the full financial year ending June 30, 2015 (FY15), after continuing slump in the commodities market derailed its target for RM2.5 billion. Speaking to …

  • Corporate  |  MAY 22, 2015 7:03 PM

    Oriental Interest Q3 PBT jumps 182% to RM15.65 mil

    Story by

    Oriental Interest Bhd’s (OIB) pre-tax profit for the third quarter ended March 31, 2015 jumped 182% to RM15.65 million from RM5.55 million in the same quarter of 2014. Revenue soared 373% to RM82.01 million from RM17.35 million previously. In a filing to …

  • Corporate & Featured and Exclusive  |  MAY 22, 2015 6:43 PM

    Petronas 1Q15 earnings fall 39%

    Story by
    [email protected]

    Petronas profit after tax (PAT) for the first quarter of financial year 2015 (1Q15) fell 39% year-on-year (y-o-y) to RM11.4 billion, the company declares in a media conference today. The state oil company attributed this steep fall in earnings to …

  • Corporate  |  MAY 22, 2015 6:39 PM

    Mega First posts higher Q1 PBT of RM33.42 mil

    Story by

    Mega First Corporation Bhd’s (MFCB) pre-tax profit rose to RM33.42 million in the first quarter ended March 31, 2015 from RM31.66 million in the same period of last year. In a filing to Bursa Malaysia today, MFCB said revenue slipped to RM135.84 …

  • Corporate  |  MAY 22, 2015 6:36 PM

    Hua Yang FY15 pre-tax profit climbs to RM153.44 mil

    Story by

    Property developer Hua Yang Bhd’s pre-tax profit rose to RM153.44 million for its financial year ended March 31, 2015 from RM112.36 million in the same period last year. In a filing to Bursa Malaysia today, the company said revenue rose to RM583.58 million …

  • Finance  |  MAY 22, 2015 6:26 PM

    BNM i’ntl reserves at RM393.4 bil as at May 15

    Story by

    The international reserves of Bank Negara Malaysia (BNM) amounted to RM393.4 billion as at May 15, 2015. The reserves position is sufficient to finance eight months of retained imports and is 1.1 times the short-term external debt, BNM said in a statement today. The …

  • Corporate  |  MAY 22, 2015 6:17 PM

    CDC opens on June 1 to support exiting MAS staff

    Story by

    The Corporate Development Centre, created to support exiting Malaysia Airline system Bhd’s (MAS) employees with their career transitions, will officially open on June 1. CDC offers free outplacement and training services for the employees to help them make the most of their …

  • Markets  |  MAY 22, 2015 5:53 PM

    KL shares end lower on profit taking

    Story by

    Shares on Bursa Malaysia ended lower today as foreign investors took profits in selected blue chips, dealers say. At 5pm today, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.54 points to 1,787.5, after hovering between 1,780.11 and 1,798.46 throughout the day. …

  • Corporate  |  MAY 22, 2015 5:49 PM

    S’wak Plantation Q1 PBT falls to RM7.27 mil

    Story by

    Sarawak Plantation Bhd’s pre-tax profit for the first quarter ended March 31, 2015 fell to RM7.27 million from RM21.86 million in the same quarter of 2014. Revenue dropped to RM70.91 million during the period under review from RM104.01 million registered previously. In a …

  • Corporate & Featured and Exclusive  |  MAY 22, 2015 5:40 PM

    Petronas decision on RM100 bil Canada project in 2Q15

    Story by
    [email protected]

    Petronas is expecting a conditional final investment decision (FID) in the second quarter of 2015 (2Q15) for its RM100 billion liquefied natural gas (LNG) project in Canada, says Petronas president and group chief executive officer (CEO) Wan Zulkiflee Wan Ariffin. …

  • Commodities  |  MAY 22, 2015 5:33 PM

    Rubber market closes higher

    Story by

    The Malaysian rubber market closed higher today, supported by the crude oil price increase and positive sentiment from the Tokyo Commodity Exchange futures market. “Oil prices jumped more than 2% on Thursday and boosted optimism that a supply glut was easing,” the dealer …

  • Markets  |  MAY 22, 2015 5:26 PM

    Ringgit ends stronger against US dollar

    Story by

    The ringgit strengthened against the US dollar at close on Friday, on continued demand for the local unit. At 5pm, the local unit was sharply higher against the greenback at 3.5835/5865 from 3.6010/6030 on Thursday. A dealer said investors were monitoring the …

  • Corporate  |  MAY 22, 2015 5:19 PM

    Judge reserves verdict on MAS, AirAsia appeals

    Story by

    The Competition Appeal Tribunal reserves its judgment on the appeals by the country’s two major carriers over breach of market-sharing prohibition under the Competition Act 2010. The appeals were filed by Malaysia Airlines (MAS) and AirAsia Bhd against a decision by the Malaysia …

  • Commodities  |  MAY 22, 2015 5:09 PM

    Sime Darby sees palm oil at RM2,200-RM2,400 year-end

    Story by

    Palm oil prices will likely trade between RM2,200 and RM2,400 per tonne between now to the end of the year, says the chief executive officer (CEO) of Sime Darby Bhd, the world’s top oil palm planter by land size. The CEO Mohd Bakke Salleh …

  • Corporate  |  MAY 22, 2015 4:57 PM

    EPF includes ASB2 in Members Investment Scheme

    Story by

    The Employees Provident Fund (EPF) decides to include the Amanah Saham Bumiputera 2 (ASB2) into its Members Investment Scheme (EPF MIS) list of approved funds. “With the addition of ASB2, there are nine funds offered under the EPF MIS managed by Amanah …

  • Corporate & Economy  |  MAY 22, 2015 4:48 PM

    MIDF: Execution key to achieving 11MP goals

    Story by
    [email protected]

    MIDF Research says the growth goals set out in the 11th Malaysia Plan are attainable, but new methods to drive the economy will have to be employed in order to for it to succeed.

  • Corporate  |  MAY 22, 2015 4:21 PM

    63% retirees worry about ability to support families

    Story by

    Living inheritance is a cause for concern for retirees in Malaysia where 63% of retirees are worried about not being able to support family or friends financially, according to an HSBC’s report. It said Malaysia has the highest percentage of concern for this …

  • Singapore & World Biz  |  MAY 22, 2015 4:14 PM

    Bumi Resources gets 5-month extension of debt moratorium

    Story by

    PT Bumi Resources, Asia’s most-indebted coal miner, obtained a five-month extension of a debt moratorium, allowing it to fend off creditors after it defaulted on two of its dollar bonds last year. The extra time granted by a Singapore court …

  • Corporate  |  MAY 22, 2015 4:09 PM

    Govt urged to reconsider GST on domestic flights

    Story by

    The Sabah state government hopes the federal government will reconsider the goods and services tax (GST) on the cost of flights involving Sabah, Sarawak, and the Peninsular Malaysia in efforts to enhance national integration. Sabah Tourism, Culture and Environment Minister Masidi Manjun said the …

  • Markets  |  MAY 22, 2015 4:00 PM

    KL shares remain easier at mid-afternoon

    Story by

    Shares on Bursa Malaysia resumed the afternoon session easier as profit taking and foreign selling in blue chips continued to curb gains. At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,788.63, down 6.41 points. However, a dealer said the …

  • Economy & Featured and Exclusive  |  MAY 22, 2015 3:53 PM

    KL seen to grow 5% annually through 2019 — report

    Story by

    Move over, Shanghai. The fastest growing city in Asia over the next five years will be Delhi, according to Oxford Economics. Chinese cities make up only three of its top 10 list, with India accounting for six. Ho Chi Minh …

  • Corporate & Featured and Exclusive  |  MAY 22, 2015 3:23 PM

    Sime Darby profit plunges further, may miss profit target

    Story by
    [email protected]

    With one quarter to go, Sime Darby is at the farthest it had been from its annual KPI profit target in at least five years.

  • World Biz  |  MAY 22, 2015 3:19 PM

    Mazda, Subaru & Mitsubishi joins in Takata air bag recall

    Story by

    Japan’s Mazda Motor Corp, Fuji Heavy Industries Ltd and Mitsubishi Motors Corp said on Friday they would recall about 720,000 more cars equipped with air bag inflators made by parts supplier Takata Corp. The recalls follow similar moves last week by other Japanese automakers to …