• Markets  |  JUNE 3, 2015 6:42 PM

    Ringgit ends stronger against US dollar

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    The ringgit closes higher today on mild demand for the local unit, dealers say. At 5pm, the local note was higher against the US dollar at 3.6840/6870 from 3.6970/7000 on Tuesday. Against other major currencies, it traded mixed. It declined to 2.7331/7364 from …

  • Commodities & Featured and Exclusive  |  JUNE 3, 2015 6:39 PM

    Opec is winning the oil war

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    As the Organisation of Petroleum Exporting Countries’ (Opec) ministers meet in Vienna this week they’ll be debating whether the strategy that has upended oil markets is working. The last time Opec met, in November, it jolted markets by leaving production …

  • Economy & Featured and Exclusive  |  JUNE 3, 2015 6:32 PM

    Love of cash jeopardises retirement savings

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    Asians are facing the prospect of running out of retirement savings because they hold too much cash. The average investor in Asia may see an investment return shortfall of 3.3% a year, according to a new report from Manulife Asset Management. …

  • Corporate & Property  |  JUNE 3, 2015 6:22 PM

    MPHB upbeat on earning in coming quarters

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    MPHB Capital Bhd is upbeat on its earnings for the next six months, backed by the ongoing Rawang joint-venture property development with Bandar Raya Developments, along with the roping in of Generali Asia NV. MPHB chief operating officer Kheoh And Yeng said the …

  • Corporate  |  JUNE 3, 2015 6:12 PM

    AmResearch advises acceptance of Cocoaland offer

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    Bank-backed research house AmResearch advises shareholders to accept the offer made for Cocoaland Holdings Bhd, stating that the offer price is a premium, compared to the last done price of the snack and beverage company. AmResearch maintains a “buy” call on …

  • Markets  |  JUNE 3, 2015 6:02 PM

    KL shares close higher on consistent buying

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    Share prices on Bursa Malaysia closed higher supported by consistent buying activities in selected heavyweights, dealers say. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.8 points to 1,749.17 after hovering between 1,743.12 and 1,750.68 throughout the day. Nestle and Kuala …

  • Commodities  |  JUNE 3, 2015 5:50 PM

    Rubber market ends mixed

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    Natural rubber prices on the Kuala Lumpur rubber market ended mix today as price correction on tyre-grade SMR 20 interspersed demand for latex-in-bulk. A dealer said SMR 20 prices saw a technical correction following a strong ringgit, but expectations of further purchase by …

  • TigerTalk  |  JUNE 3, 2015 5:46 PM

    Mueller at MAS promising, but early days

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    Malaysia Airlines’ new CEO hosted his first press conference on June 1, in which he identified key areas of the airline which need to be fixed and briefly laid out his plans to do so. The new chief has a plan, but can he execute it?

  • Opinion  |  JUNE 3, 2015 5:31 PM

    Europe and Greece: The damage is done

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    With both sides said to be drawing up final proposals, and a definitive debt crunch thought to be imminent, the months of brinkmanship over Greece may at last be drawing to a close. But who knows, really?

  • Corporate  |  JUNE 3, 2015 4:34 PM

    Wah Seong to tap renewable energy sector for growth

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    Wah Seong Corp Bhd (WSC) will continue to tap opportunities in the renewable energy sector while strengthen its presence in Latin America, East Asia, and Africa. Managing director and group chief executive officer Chan Cheu Leong said sales of steam turbines, boilers, …

  • Corporate  |  JUNE 3, 2015 4:21 PM

    Paramount eyes RM400 mil in property sales this year

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    Property and education group Paramount Corp Bhd targets to achieve RM400 million in sales from its property division in the financial year ending Dec 31, 2015 (FY15). Last year, property sales amounted close to RM317 million. Group chief executive officer Chew Sun …

  • Featured and Exclusive, OTHERS, World Biz  |  JUNE 3, 2015 4:13 PM

    Just 35 Minutes to get a pilot license in India

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    Anupam Verma has a certificate that shows he has flown an aircraft for 360 hours. He says he got it after sitting in the co-pilot’s seat for just 35 minutes. He’s one of dozens of pilots in the country who …

  • World Biz  |  JUNE 3, 2015 3:58 PM

    Samsung Elec says no plans to merge with Samsung SDS

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    Tech giant Samsung Electronics Co Ltd has no plans to merge with sister company Samsung SDS Co Ltd, a senior Samsung Electronics executive says on Wednesday, responding to recent market speculation about such a possibility. “The management wants me to express …

  • Markets  |  JUNE 3, 2015 3:44 PM

    KL shares continue uptrend at mid-afternoon

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    Shares on Bursa Malaysia remain higher at mid-afternoon supported by consistent buying in selected consumer stocks, dealers says. As at 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.86 points to 1,748.23. Market breadth remained positive with gainers beating losers …

  • World Biz  |  JUNE 3, 2015 3:34 PM

    Blatter’s exit sparks Qatar stock selloff

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    Qatar’s stocks sank to the lowest in more than six weeks after the resignation of Joseph “Sepp” Blatter as Fifa president yesterday renewed concern the Gulf nation may lose the right to host soccer’s 2022 World Cup. The QE Index …

  • Corporate  |  JUNE 3, 2015 3:32 PM

    Utusan plans to diversify as newsprint revenue drops

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    Utusan Melayu (M) Bhd plans to sustain its newsprint business while also venturing into other businesses to broaden its earnings base. This is to mitigate the group’s declining revenue which has dropped to RM291.2 million for the financial year ended Dec 31, 2014 …

  • Corporate & Featured and Exclusive  |  JUNE 3, 2015 3:14 PM

    AirAsia open to collaboration with MAS NewCo

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    AirAsia Bhd is looking for possible areas to collaborate with Malaysian Airline Bhd (MAB) in response to a statement by new chief executive officer (CEO) Christoph Mueller yesterday to seek collaboration with the low-cost carrier and other potential partners. AirAsia group chief …

  • World Biz  |  JUNE 3, 2015 3:06 PM

    Samsung to expand Samsung Pay to China, Europe

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    Tech giant Samsung Electronics Co Ltd said on Wednesday that it will expand its Samsung Pay mobile payments service to markets such as China and Europe after an initial launch in South Korea and the United States later this year.

  • Corporate & Featured and Exclusive  |  JUNE 3, 2015 2:59 PM

    New guidance to standardise Islamic finance practices

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    Malaysia’s central bank says it will finalise operating standards for all major Islamic finance contracts by the end of this year, creating the first comprehensive set of practical guidance for the industry. The set of 11 standards will complement existing Syariah guidelines …

  • Featured and Exclusive & Finance  |  JUNE 3, 2015 2:33 PM

    Greece says won’t pay IMF without prospect of a deal

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    Greece will not make a June 5 loan repayment to the International Monetary Fund (IMF) if there is no prospect of an aid-for-reforms deal with its international creditors soon, the spokesperson for the ruling Syriza party’s lawmakers says on Wednesday. …

  • World Biz  |  JUNE 3, 2015 2:27 PM

    Herbalife strikes back on pyramid scheme claims

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    Herbalife Ltd went on the attack against nemesis Bill Ackman on Monday, debuting a website that paints the billionaire hedge fund manager as an irresponsible opportunist. includes media reports about legal probes into his anti-Herbalife campaign as well as …

  • Corporate  |  JUNE 3, 2015 2:21 PM

    Mercedes-Benz M’sia records best ever sales in May

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    Mercedes-Benz Malaysia had another record month for passenger cars in May, registering 1,143 units, which was an improvement of more than 100% from the 544 sold during the same period last year.

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 2:10 PM

    Bank tied to Fifa scandal has drug cartel history

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    A small private bank controlled by a reclusive Brazilian billionaire shows up more than two dozen times in US prosecutors’ corruption charges against world football officials. It’s hardly the bank’s first brush with scandal. Delta National Bank & Trust Co …

  • Corporate  |  JUNE 3, 2015 1:33 PM

    NHF allocates over RM20 mil in capex for FY15

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    New Hoong Fatt Holdings Bhd (NHF), an automotive replacement parts manufacturer, allocates more than RM20 million in capital expenditure (capex) for the financial year 2015 and towards product design and development. Managing director Chin Jit Sin said the company is looking into growing revenue …

  • World Biz  |  JUNE 3, 2015 1:24 PM

    China to probe six Sinopec units in graft crackdown

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    China’s main anti-corruption watchdog will inspect six subsidiaries of state-owned energy giant Sinopec Group, the latest step in a continuing crackdown on the oil sector in the world’s number two economy. The ruling Communist Party’s watchdog plans to send teams …

  • Commodities  |  JUNE 3, 2015 1:14 PM

    KLTM ends US$30 lower at US$15,520 a tonne

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    The Kuala Lumpur Tin Market (KLTM) closed US$30 lower for US$15,520 a tonne today and despite the rise in the metal price on the London Metal Exchange (LME). The tin price on the LME rose by US$160 to US$15,535 a tonne. A dealer …

  • Markets  |  JUNE 3, 2015 1:04 PM

    KL shares higher at mid-day

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    Shares on Bursa Malaysia ended the morning session in positive territory today on consistent buying in selected heavyweight stocks, dealers say. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI), was up 5.62 points to 1,746.99, after moving between 1,743.12 and …

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 12:54 PM

    America’s unwanted Ivy League grads flocks to India

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    Kunal Bahl’s American dream was coming together in late 2007. He had Ivy League degrees in business and engineering, a debut job at Microsoft Corp and a roadmap to the career he’d always wanted in Silicon Valley. Then his application …

  • World Biz  |  JUNE 3, 2015 11:56 AM

    Boeing starts assembly of pioneer 737 MAX

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    Boeing employees in Renton, Washington have started building the pioneer 737 MAX airplane with the first component, the wings, to be assembled in the process.

  • Economy & World Biz  |  JUNE 3, 2015 11:53 AM

    What former US steel town Pittsburgh can teach China

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    When it comes to shuttering steel plants and transforming an economy, Pittsburgh can teach China how it’s done. That’s according to former Fed chairman Ben Bernanke. China is undergoing a painful transition from an economy fueled by exports and heavy industry to one …

  • Opinion  |  JUNE 3, 2015 11:36 AM

    Getting inequality wrong

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    On most contentious issues, our perceptions often diverge from reality. It has been shown, for example, that people in many countries are bad at guessing the prevalence of immigrants, Muslims and teenage pregnancies, as well as murder rates, unemployment and population aging.

  • Markets  |  JUNE 3, 2015 11:33 AM

    KL shares remain higher at mid-morning

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    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained higher mid-morning as buying emerged in selected heavyweights, a dealer said. As at 11 am, the FBM KLCI rose 5.41 points to 1,746.78, after opening 7.22 points better at 1,748.59. Market breadth remained …

  • Markets & Property  |  JUNE 3, 2015 11:14 AM

    Cheung Kong Property spin off debuts at HK$70

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    Cheung Kong Property Holdings Ltd opened at HK$70 on its first trading day in Hong Kong after being spun off from billionaire Li Ka-shing’s conglomerate.

  • Commodities  |  JUNE 3, 2015 10:57 AM

    Peru in dispute with Shell over LNG royalties

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    PeruPetro is in dispute with Anglo-Dutch oil firm Shell over royalties related to the export of seven Peruvian liquefied natural gas (LNG) cargoes last year, the regulator said, adding it hoped to reach a deal soon or would resort to …

  • Finance & Markets  |  JUNE 3, 2015 10:00 AM

    Ringgit rebounds to open higher against the US dollar

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    The ringgit rebounded against the US dollar, in early trade, due to mild demand for the local unit. At 9.30 am, the local unit traded at 3.6800/6830 from 3.6970/7000 at 5 pm on Tuesday. Against a basket of four major currencies, the …

  • Markets  |  JUNE 3, 2015 9:56 AM

    KL shares open higher

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    Share prices on Bursa Malaysia opened higher supported by continuing buying interest in most heavyweight stocks, dealers said. As at 9.20 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.45 points higher at 1,745.82, after opening 7.22 points better at 1,748.59. A …

  • Featured and Exclusive & World Biz  |  JUNE 3, 2015 9:45 AM

    App maker files EU antitrust complaint against Google

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    US tech firm Disconnect has filed a complaint to EU antitrust regulators against Google’s ban on its privacy app, accusing the Silicon Valley giant of abusing its dominant market position. Disconnect, set up four years ago by former Google engineers, …

  • Commodities & Featured and Exclusive  |  JUNE 3, 2015 9:20 AM

    US House energy chair supports lifting oil export ban

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    The Republican chairman of the House of Representatives’ energy panel on Tuesday said lifting the 40-year-old ban on US oil exports would benefit consumers and the country’s allies, a move that could boost support for legislation in the chamber. “Oil …

  • Economy & World Biz  |  JUNE 3, 2015 8:48 AM

    Greece’s creditors draft terms to unlock aid

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    Greece’s creditors on Tuesday drafted the broad lines of an agreement to put to the leftist government in Athens in a bid to conclude four months of acrimonious negotiations and release aid before the cash-strapped country runs out of money. …

  • Commodities  |  JUNE 3, 2015 8:20 AM

    Core Opec members in ‘consensus’ to keep oil ceiling

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    Core Gulf Opec members and others have a consensus to keep the organization’s oil production ceiling intact at its meeting this week, a senior Gulf Opec delegate told Reuters on Tuesday, reinforcing a view among a growing chorus of members. “There …

  • Issues  |  JUNE 3, 2015 8:00 AM

    How is money laundered?

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    In this article, KINIBIZ looks at how illegitimate proceeds are laundered and the methods used by launderers to game the system. Note, however, that this is NOT an instruction manual on money laundering, nor does KINIBIZ encourage this activity.

  • Corporate & World Biz  |  JUNE 3, 2015 8:00 AM

    Environmentalists sue over Shell plan to drill in Arctic

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    Several environmental groups sued the United States on Tuesday to derail Royal Dutch Shell Plc’s plan to drill in the Arctic Ocean as soon as July. The Bureau of Ocean Energy Management, an agency within the US Department of the …

  • Commodities  |  JUNE 3, 2015 7:37 AM

    Gold higher as dollar softens, eyes on Greek deal

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    Gold edged higher on Tuesday in response to losses in the dollar after disappointing US data and also as uncertainty persisted over whether a high-level meeting on Greece’s debt crisis might lead to a significant breakthrough. Spot gold rose 0.4% …

  • Finance & Markets  |  JUNE 3, 2015 7:32 AM

    Dollar plunges broadly on optimism for Greek deal

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    The US dollar was on track to post its biggest one-day percentage decline against a basket of major currencies in nearly two years on Tuesday on expectations that Greece would reach a deal with its creditors. Greece’s creditors are close …

  • StockStalk  |  JUNE 3, 2015 7:30 AM

    MBM Resources: Rolling on heavy-duty tyres

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    The auto sector is seeing some rough times and MBM Resources had an underwhelming first quarter of 2015, going by core results. However, fundamentals remain intact and the company may be the car to drive, if you want in on this troubled sector.

  • Markets  |  JUNE 3, 2015 7:27 AM

    Wall Street ends down; utilities fall as bond yields jump

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    US stocks eased on Tuesday as a jump in bond yields hit utilities and other top dividend payers, but energy gains and optimism Greece is near a deal with creditors limited losses. The S&P utility index fell 1.4%, leading losses …

  • Commodities  |  JUNE 3, 2015 7:20 AM

    Oil prices up, driven by a weak dollar

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    Oil prices rose on Tuesday, driven by a weak dollar and expectations that US crude supplies could have fallen last week for a fifth straight week. But the American Petroleum Institute (API) estimated an inventory build instead, in a report …

  • 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 …