• Featured and Exclusive & World Biz  |  APRIL 21, 2015 9:00 PM

    The greatest tax story ever told

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    How US companies learned to relocate their official addresses overseas and avoid taxes — in one operetta.

  • World Biz  |  APRIL 21, 2015 8:33 PM

    Chelsea owner invests RM54 mil in Music Messenger app

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    Music Messenger, co-founded by Israeli entrepreneur OD Kobo and launched seven months ago, said on Tuesday Abramovich had invested US$15 million (RM54.35 million).

  • Corporate  |  APRIL 21, 2015 8:20 PM

    IJM Prop’s unit acquires 50% stake in Aura Hebat

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    IJM Properties Sdn Bhd's (IJMPRP) unit, The Light Waterfront Sdn Bhd, has acquired one ordinary share of RM1, representing 50% equity interest in Aura Hebat Sdn Bhd (AHSB).

  • Corporate  |  APRIL 21, 2015 8:13 PM

    Ali Hamsa appointed new chairman of PR1MA

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    The chief secretary to the government Ali Hamsa has been appointed as the new chairman of Perbadanan Perumahan Rakyat 1Malaysia (PR1MA), the Prime Minister's Office (PMO) said in a statement here today.

  • Corporate  |  APRIL 21, 2015 8:08 PM

    Manufacturing leads job market, says Jobstreet

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    The manufacturing industry still leads the job market in terms of number of job postings, followed by banking and financial services, said online recruitment company

  • Corporate  |  APRIL 21, 2015 8:03 PM

    PNB clarifies on GST for unit trust withdrawals

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    Permodalan Nasional Bhd (PNB) today clarified that the withdrawals or redemptions of all its unit trust funds are exempted and not subjected to the goods and services tax (GST) of 6%. It applies to all its fixed and variable price unit …

  • Corporate  |  APRIL 21, 2015 7:55 PM

    MAHB sets up body for Turkey airports’ integration

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    Malaysia Airports Holdings Bhd (MAHB) has set up an integration steering committee to ensure an appropriate integration of its recent acquisition, Istanbul Sabiha Gokcen Airport (ISG) and LGM Havalimani (LGM), into the group.

  • Corporate  |  APRIL 21, 2015 7:48 PM

    HLI’s Q3 PBT rises to RM68.26 mil

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    Hong Leong Industries Bhd's pre-tax profit for the third quarter ended March 31, 2015 increased to RM68.26 million from RM62.36 million in the same period a year ago.

  • Featured and Exclusive, Singapore, World Biz  |  APRIL 21, 2015 7:41 PM

    ‘Moving HQ to S’pore makes sense for StanChart’

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    Standard Chartered has a strong business case to move its headquarters from London to Singapore and save millions in taxes as, unlike HSBC, it doesn't have a banking network in the UK, Aberdeen Asset Management said.

  • Corporate & Featured and Exclusive  |  APRIL 21, 2015 7:33 PM

    CIMB Thai’s 1Q net profit falls 70% on surging provisions

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    [email protected]

    The bank’s president and chief executive officer Subhak Siwaraksa said: “The higher provisions are reflective of a weaker environment leading up from the slower economic conditions.”

  • Corporate  |  APRIL 21, 2015 7:06 PM

    Matrix Concepts expands footprints in Klang Valley

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    Matrix Concepts Holdings Bhd is expanding its footprints in the Klang Valley with the proposed acquisition of a 2.32-hectare land cum approved residential development in Puchong for RM95 million.

  • Corporate  |  APRIL 21, 2015 6:59 PM

    TA initiates coverage on Signature

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    [email protected]

    TA Securities initiated coverage on premium kitchen systems manufacturer Signature International Bhd (Signature), noting that the company has a strong brand name and a good track record of executions for its projects as well as a flexible model for its …

  • Corporate  |  APRIL 21, 2015 6:47 PM

    George Kent to invest more in R&D, technology

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    George Kent (M) Bhd, an established engineering company, aims to meet the industry's current and future demand for metering solutions with significant investments in technology and research and development (R&D).

  • Corporate & Featured and Exclusive  |  APRIL 21, 2015 6:40 PM

    Petronas to deliver FLNG cargoes in Q1 2016

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    The world's first floating liquefied natural gas (LNG) project, built by Petronas, is expected to supply its first cargoes in the first quarter of 2016, senior officials from the Malaysian state-oil firm said on Tuesday.

  • Corporate  |  APRIL 21, 2015 6:31 PM

    BIMB positive on IOI Prop, high margins ‘sustainable’

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    Research house BIMB Securities (BIMBSec) initiated coverage on IOI Properties Group Bhd (IOIP), citing the group’s new structure, current trading valuation, land bank reserve with high potential value, possible easier replenishment of their land bank, and its focus on township …

  • Corporate  |  APRIL 21, 2015 6:13 PM

    EG Industries to acquire S’pore’s Singyasin

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    Electronic manufacturing services player EG Industries Bhd has entered into a sale and purchase agreement to acquire Singapore-based Singyasin Holdings Pte Ltd for S$3.8 million (RM10.3 million).

  • World Biz  |  APRIL 21, 2015 6:02 PM

    Yahoo, Microsoft add termination clause in contract

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    Yahoo! Inc and Microsoft Corp added a termination clause to the terms of their search partnership agreement under which either company can end the deal on or after Oct 1, 2015, according to a regulatory filing by Yahoo on Monday. The 10-year search partnership, …

  • Commodities  |  APRIL 21, 2015 5:58 PM

    Rubber market closes mixed

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    The Malaysian rubber market closed mixed in a quiet trading today on lack of demand and the weakening of the ringgit against the US dollar.

  • Markets  |  APRIL 21, 2015 5:55 PM

    Ringgit ends lower against US dollar

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    At 5pm, the ringgit was quoted at 3.6355/6385 against the greenback at 3.6200/6230 yesterday. He said the reading was influenced by the poor performance of the euro, engulfed by worries that Greece may default on debts. “The euro was weighed down …

  • Property  |  APRIL 21, 2015 5:50 PM

    Johor urges BNM to review home loan policy

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    The Johor state government has requested Bank Negara Malaysia (BNM) to review housing loan policy.

  • Markets  |  APRIL 21, 2015 5:44 PM

    KL shares end higher; CI up 14.14 pts

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    Petronas Chemicals and Genting were the top two contributors to the benchmark index's gain with a total of 7.43 points, rising 28 sen and 47 sen each to RM6.04 and RM9.20.

  • Economy  |  APRIL 21, 2015 5:33 PM

    Japan hopes record-breaking maglev train will lift economy

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    Japan’s faded economic prowess received a boost after a magnetic-levitation (maglev) train operated by Central Japan Railway Co set a new world speed record of 603 kilometres per hour (kmph) on a test run in Yamanashi Prefecture just outside of Tokyo.

  • Corporate  |  APRIL 21, 2015 5:19 PM

    VSolar in collaboration with Japan’s Eastasia

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    VSolar Group Bhd, an investment holding company focusing on solar renewable energy, has signed a collaboration agreement with Eastasia Group Co Ltd of Japan, to provide engineering, procurement and construction (EPC) solutions.

  • Singapore  |  APRIL 21, 2015 5:07 PM

    Toyo-Thai to list power unit on SGX

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    Thai construction firm Toyo-Thai Corp said on Tuesday it aims to raise about US$300 million (RM1.1 billion) from listing its subsidiary Toyo Thai Power Holdings Pte Ltd on Singapore's stock exchange by the end of 2016.

  • Commodities & Featured and Exclusive  |  APRIL 21, 2015 4:55 PM

    Vitol CEO says oil price can’t drop much more

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    Vitol Group, the world’s biggest independent oil trader, said the cost of finding and pumping crude will prevent prices from dropping much lower than where they are now for prolonged periods.

  • World Biz  |  APRIL 21, 2015 4:49 PM

    Foursquare started from boozy night out

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    Foursquare, the mobile app that allows people to search for popular locations, came together in 2009 in an unlikely venue: a cash-only watering hole tucked away in the Lower East Side of New York City.

  • Opinion  |  APRIL 21, 2015 4:11 PM

    Asia’s growing China problem

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    Asia has a China problem. Beijing has just initiated its biggest cut in bank reserve requirements since 2008, a move that underscores just how worried it is about its economy. But the cut is also a stark wake-up call for neighbors that have gotten …

  • Events & Property  |  APRIL 21, 2015 4:08 PM

    iProperty to host property expo in Penang

    Story by Malaysia will host the Home and Property Investment Fair at the Gurney Plaza in Penang from April 23-26.

  • World Biz  |  APRIL 21, 2015 3:56 PM

    Professor Hanke lands all students a Wall Street job

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    Steve Hanke says he places 100% of his students on Wall Street.

  • World Biz  |  APRIL 21, 2015 3:48 PM

    Samsung said to make new Qualcomm mobile processors

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    US chip maker Qualcomm Inc plans to have its next-generation Snapdragon 820 mobile processors manufactured by Samsung Electronics Co Ltd, tech news website Re/code reported, citing unnamed sources. The move comes after Samsung opted to use its own Exynos processors …

  • TigerTalk  |  APRIL 21, 2015 3:46 PM

    Time to simplify Malaysia’s visa application process

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    [email protected]

    Tourism is an important sector for Malaysia’s economy and important markets which include countries with a growing middle class like India and China. With Malaysia’s neighbours also vying to attract travellers to their shores, the government has to make travel into the country as easy as possible. And they should start by simplifying the visa application process.

  • Corporate  |  APRIL 21, 2015 3:42 PM

    RHB restructuring a proactive move: RAM Ratings

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    RAM Ratings has viewed RHB Capital Bhd's proposed corporate restructuring as a proactive move in light of the impending changes in Bank Negara Malaysia (BNM)'s regulations.

  • World Biz  |  APRIL 21, 2015 3:38 PM

    BMW China plans to put WeChat in its car

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    BMW AG is working to integrate Tencent Holdings’ popular WeChat messaging app into its cars in China and is planning to do it in a way that would not require the Internet giant to make changes to its software, its China R&D …

  • Corporate & Featured and Exclusive  |  APRIL 21, 2015 3:32 PM

    Govt to set aside RM15 bil for green tech in 11MP

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    The government is allocating more than RM15 billion in the 11th Malaysia Plan (11MP) as part of a game-changing move to introduce green technology initiatives into the economy.

  • Corporate, Featured and Exclusive, Property  |  APRIL 21, 2015 3:20 PM

    EcoWorld to build RM10 bil township in Batu Kawan

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    Eco World Development Group Bhd will kick-start its RM10 billion mixed-development project, Eco Marina, in Bandar Cassia in Batu Kawan, over the next nine months after receiving the nod from Penang Development Corp (PDC).

  • Markets  |  APRIL 21, 2015 3:17 PM

    KL shares higher at mid-afternoon

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    saShares on Bursa Malaysia were higher at mid-afternoon today on continued buying interest in most heavyweights, dealers said. At 3 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.99 points to 1,857.65 after moving between 1,850.35 and 1,858.92. On the broader …

  • World Biz  |  APRIL 21, 2015 3:12 PM

    SAP posts 15% rise in 1Q profit as sales surge

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    German business software maker SAP reported a 15% rise in operating profit helped by a cheap euro, even as rising investment in newer cloud-based software squeezed its profit margin. Europe’s largest software company said on Tuesday first-quarter operating profit, excluding special items, rose to 1.06 …

  • Corporate  |  APRIL 21, 2015 3:11 PM

    PetChem eyes 80%-85% plant utilisation rate

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    Integrated chemicals producer Petronas Chemicals Group Bhd is currently pushing for a higher average plant utilisation rate of between 80% and 85% in a bid to drive sales volume.

  • Economy & Featured and Exclusive  |  APRIL 21, 2015 2:48 PM

    China has more megacities than you think

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    How many megacities does China have? The United Nations puts it at six. Try 15.

  • Economy & World Biz  |  APRIL 21, 2015 2:45 PM

    Business group sees 250,000 US jobs from TPP

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    The 12-nation Pacific trade pact would create nearly a quarter of a million US jobs due to increased foreign investment in the United States, a business group estimated on Monday, in the first look at the deal’s employment impact. The …

  • Corporate  |  APRIL 21, 2015 2:37 PM

    MRT construction reaches 61.9%, says CEO

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    The construction of the Mass Rapid Transit (MRT) project has reached 61.9%, said MRT Corp Sdn Bhd chief executive officer Shahril Mokhtar.

  • Commodities & World Biz  |  APRIL 21, 2015 2:37 PM

    Total in talks with Pertamina to retain Mahakam interest

    Story by

    Total is in talks with Indonesia’s Pertamina on a possible asset swap in return for a continuing participating interest in the country’s top gas producing field, an official at the French oil major said on Tuesday. “We are open to swapping one of our …

  • World Biz  |  APRIL 21, 2015 2:30 PM

    Mohegan Sun proposes RM18.3 bil South Korean casino

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    The operator of the US Mohegan Sun casino has partnered with South Korea’s largest airport in a proposal for a US$5 billion (RM18.3 billion) casino resort, putting its hat in the ring for one of two gaming licenses set to …

  • Economy  |  APRIL 21, 2015 2:25 PM

    China picks Pakistan dam as first stop on Silk Road

    Story by

    China picked a dam project in northern Pakistan for its first investment by a US$40 billion (RM144.9 billion) Silk Road infrastructure fund.

  • Opinion  |  APRIL 21, 2015 2:18 PM

    A global Marshall plan

    Story by

    Despite ongoing efforts to catalyze global development cooperation, there have been significant obstacles to progress in recent years. Fortunately, with major international meetings set for the second half of 2015, world leaders have an important opportunity to overcome them. Such …

  • Property & World Biz  |  APRIL 21, 2015 2:07 PM

    Kaisa’s default sparks fears others may follow

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    Kaisa Group Holdings Ltd captivated Wall Street by minting fortunes from troubled real estate in China. Now the developer is in trouble itself -- and the question is how far the pain will spread.

  • Opinion  |  APRIL 21, 2015 1:42 PM

    Stopping refugee shipwrecks

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    There were ways to save the hundreds of people -- perhaps 700, maybe even 950 -- who drowned off the Libyan coast yesterday while attempting to escape to Europe. And there are ways to save those who inevitably follow them onto the high seas.

  • Economy  |  APRIL 21, 2015 1:18 PM

    Foundation aims zero hardcore poverty rate

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    The Poverty Eradication Foundation (YBK) has set a target of zero hardcore poverty rate this year, in line with its fight to fully eradicate the problem.

  • Commodities  |  APRIL 21, 2015 1:11 PM

    KLTM ends US$50 higher at US$14,800 a tonne

    Story by

    The Kuala Lumpur Tin Market (KLTM) closed US$50 higher today at US$14,800 per tonne as sellers took a wait-and-see approach, a dealer said.

  • Markets  |  APRIL 21, 2015 1:04 PM

    KL shares higher at mid-day

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    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended the morning session higher today, supported by gains in selected finance stocks, dealers said.