• Economy  |  APRIL 27, 2015 4:51 PM

    Ministry launches Young Agropreneur Tour

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    The Young Agropreneur Tour in rural areas will be enhanced to encourage the young to venture into the agriculture business to reduce the country’s dependence on imported products by 2020. Agriculture and Agro-Based Industry Minister Ismail Sabri Yaakob said the country spends billions …

  • Markets  |  APRIL 27, 2015 4:29 PM

    KL shares remain almost flat at mid-afternoon

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    Shares on Bursa Malaysia were traded lower at mid-afternoon today, but the key index was almost flat, supported by mild buying momentum in selected blue chips. At 3.12pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,863.52, up 0.94 point, with gains …

  • Corporate  |  APRIL 27, 2015 4:25 PM

    MHB Q1 pre-tax profit rises slightly to RM35 mil

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    Malaysia Marine and Heavy Engineering Holdings Bhd’s (MHB) pre-tax profit for the first quarter ended March 31, 2015 rose to RM35 million from RM34.09 million recorded in the same period a year ago. Revenue increased to RM719.5 million from RM671.46 million previously, MHB said …

  • Corporate  |  APRIL 27, 2015 4:19 PM

    Maxis posts RM455 mil profit in Q1

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    Maxis Bhd registered a solid subscriber growth and enhanced data usage, driven by its value propositions and high-performing network in its first quarter of 2015 (1Q15). For the first time since 2010, Maxis bucked the trend of a traditionally slow first quarter (Q1) to deliver a service revenue of RM2.13 billion, up 1.6% from 4Q14. The quarter also saw Maxis adding 328,000 new revenue-generating subscriptions (RGS), bringing its total RGS base to 12 million. With its network modernisation and long-term …

  • Issues  |  APRIL 27, 2015 4:00 PM

    A discussion on raising the withdrawal age

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    Recently, KINIBIZ’ P Gunasegaram had a discussion on business radio station BFM with BFM’s David Chew, Julian Ng and Melisa Idris on EPF’s proposal to raise the full withdrawal age limit to 60. Below are excerpts from the interview.

  • Economy & Featured and Exclusive  |  APRIL 27, 2015 3:36 PM

    Counting the economic cost of natural disasters

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    The Asia-Pacific region is the world's most disaster prone, with earthquakes and floods wreaking havoc on economies.

  • Corporate  |  APRIL 27, 2015 3:15 PM

    Malaysia Smelting Corp positive on FY15 results

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    Malaysia Smelting Corp Bhd (MSC) is positive on its financial results ending December 2015 mostly driven by the smelting business. Chief executive officer Chua Cheong Yong said the smelting segment will continue to be profitable this year, while the mining business would be price-related. …

  • Commodities  |  APRIL 27, 2015 2:56 PM

    KLTM ends US$200 higher at US$15,800 a tonne

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    The Kuala Lumpur Tin Market (KLTM) rose by US$200 today to end at US$15,800 per tonne, a dealer said.

  • Commodities  |  APRIL 27, 2015 2:52 PM

    ‘M’sia palm oil main source of import for S Korea’

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    Malaysian palm oil continues to be the main source of import for South Korea, with 374,000 tonnes of the commodity imported last year, said Plantation, Industries and Commodities Minister Douglas Uggah Embas.

  • Corporate  |  APRIL 27, 2015 2:40 PM

    DiGi Q1 PBT eases to RM626 mil

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    DiGi.Com Bhd’s pre-tax profit eased to RM626 million in the first quarter ended March 31, 2015, from RM654.54 million registered in the same period last year. In a filing to Bursa Malaysia, the company said revenue, however, rose to RM1.79 billion from RM1.72 …

  • Economy  |  APRIL 27, 2015 2:31 PM

    Include social business into Asean agenda, says Rosmah

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    Social business should included in the agenda of Asean future meetings, the prime minister’s wife, Rosmah Mansor, said. She said Asean countries should recognise social business as a powerful form of business to address social issues as well as build a strong ecosystem …

  • Corporate  |  APRIL 27, 2015 2:17 PM

    IJM Land, PREH to develop RM3 bil site in Penang

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    IJM Land Bhd has teamed up with Singapore-based Perennial Real Estate Holdings Ltd (PREH) to acquire and develop RM3 billion freehold waterfront site in Penang. In a statement today, IJM Land said the 13.26-hectare site in Gelugor will be developed into a large-scale …

  • Featured and Exclusive & Markets  |  APRIL 27, 2015 2:11 PM

    China stocks at 7-year high on SOEs merger speculation

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    China’s stocks rose to a seven-year high, led by energy and industrial companies, amid speculation the government is considering merging state-owned enterprises (SOEs) and taking more measures to support economic growth.

  • Corporate  |  APRIL 27, 2015 1:54 PM

    Yayasan Melaka urged to focus on education

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    Yayasan Melaka (YM) should return to its focus on education to ensure it remains strong and benefit the people in the state in future, said Chief Minister Idris Haron.

  • Economy & Featured and Exclusive  |  APRIL 27, 2015 1:49 PM

    Nepal’s slowing economy set for freefall without global aid

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    Nepal was already slowing before a 7.8 magnitude earthquake killed thousands from the capital to the unforgiving slopes of Mount Everest. Now near-term growth is set to contract without the world’s help.

  • World Biz  |  APRIL 27, 2015 1:20 PM

    Let staff work from home, says Richard Branson

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    Unless you have a technical job like flying an aeroplane, you can probably do it from home, Richard Branson said.

  • Economy  |  APRIL 27, 2015 1:09 PM

    China adds nuclear plants at record pace to fight smog

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    China is set to add nuclear reactors at a record pace this year as the nation seeks to cut pollution by reducing its dependence on coal.

  • Markets  |  APRIL 27, 2015 1:03 PM

    KL shares almost flat at mid-day

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    The key index on Bursa Malaysia was almost flat at mid-day as mixed sentiment weighed on buying patterns, a dealer said.

  • Corporate  |  APRIL 27, 2015 1:03 PM

    Carimin inks pact with Makamin & Petro Allied

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    Carimin Petroleum Bhd, a provider of offshore oil and gas (O&G) support services in Malaysia, has entered into collaboration agreements (COAs) with Makamin Offshore Saudi Ltd Co (MOS) and Petro Allied International DMCEST (PAI) to explore opportunities in Saudi Arabia, the Middle East, Southeast …

  • Commodities  |  APRIL 27, 2015 12:59 PM

    Indonesia plans to cut CPO export tariff

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    Indonesia plans to reduce its crude palm oil (CPO) export tax to help offset the cost burden for companies from a plan to impose separate export levies, a senior Finance Ministry official said, according to local media. Earlier this month, the government …

  • Corporate & World Biz  |  APRIL 27, 2015 12:51 PM

    HSBC shares jump on report of retail spinoff plan

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    HSBC Holdings Plc’s shares jumped the most since 2011 in Hong Kong after a newspaper reported that the lender may spin off its UK retail bank and the company earlier pledged to review its domicile. Shares of HSBC, Europe’s largest …

  • Corporate  |  APRIL 27, 2015 12:37 PM

    Johor allocates RM3 mil to business incubator scheme

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    The Johor state government has allocated RM3 million for an initiative to produce 40 Bumiputera business incubators over the next two years in Pengerang. Menteri Besar Mohamed Khaled Nordin said when launching the scheme at Pulai Desaru Beach and Resort Spa yesterday the …

  • Economy & World Biz  |  APRIL 27, 2015 12:11 PM

    Indian parliament kicks off debate on key tax reform

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    India’s parliament began debating a sales tax on Friday that seeks to transform the country into a common market, but experts said compromises made to enlist the support of states risked diluting the impact of the biggest tax reform in …

  • Markets  |  APRIL 27, 2015 11:42 AM

    KL shares reverse trend at mid-morning

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    Shares on Bursa Malaysia reversed earlier gains at mid-morning today, capped by mild profit taking. At 11.08 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was almost flat at 1,862.37, easing 0.21 point. Axiata dragged down the composite index by 1.349 …

  • World Biz  |  APRIL 27, 2015 11:34 AM

    Hyundai to create shareholder body after land deal fiasco

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    Hyundai Motor on Monday said it will establish a committee to represent shareholder interests when the board makes key decisions such as acquisitions, heeding calls from investors angered over a US$10 billion (RM35.78 billion) land purchase last year. Hyundai Motor …

  • Featured and Exclusive, Property, World Biz  |  APRIL 27, 2015 11:27 AM

    Mori Trust’s Miwako Date shows what Japan Inc lacks

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    Anyone wondering why Prime Minister Shinzo Abe is crusading to get more women running Japan’s male- dominated corporations should meet Miwako Date, daughter of Japanese billionaire property developer Akira Mori. Four years after Date became president of Mori Trust Hotels …

  • Singapore & World Biz  |  APRIL 27, 2015 10:51 AM

    BHP faces RM1.46 bil tax bill on S’pore marketing hub

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    BHP Billiton is contesting A$522 million (RM1.46 billion) in Australian tax bills on its Singapore marketing operations up to 2010, after having paid almost no tax in Singapore since 2006, the global miner told an Australian Senate panel. The figures …

  • Featured and Exclusive & Opinion  |  APRIL 27, 2015 10:32 AM

    The shareholder spring continues

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    It is annual general meeting season – the time of year when some of the world’s biggest companies gather to report to shareholders and have some semblance of a conversation with them. For the next couple of months, a succession …

  • OTHERS  |  APRIL 27, 2015 9:56 AM

    Ringgit opens higher against US dollar

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    The ringgit opened higher against the US dollar on strong buying support for the local unit. At 9.16 am, the local unit was quoted at 3.5675/5705 versus the greenback compared with 3.5790/5830 at 5 pm on Friday. The domestic unit traded mostly …

  • Markets  |  APRIL 27, 2015 9:53 AM

    KL shares open higher on positive sentiment

    Story by

    The positive trend in Asian stock markets boosted sentiment on Bursa Malaysia with share prices opening higher this morning. At 9.09 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.23 points better at 1,864.81 after opening 2.11 points higher at …

  • Corporate, Featured and Exclusive, World Biz  |  APRIL 27, 2015 9:49 AM

    Pepsi dumps aspartame in bid to regain sales

    Story by

    PepsiCo Inc will start selling Diet Pepsi without aspartame later this year, the biggest change to the beverage in three decades, after a consumer backlash against the artificial sweetener crushed sales. The company will replace aspartame with a blend of …

  • Corporate & Economy  |  APRIL 27, 2015 9:20 AM

    Indonesia group launches legal ‘jihad’ on private sector

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    The head of an Indonesian Muslim organisation has filed cases to overturn three laws, escalating what he calls “a constitutional jihad” that has already dealt a blow to investors in the oil, gas and water sectors and now threatens to …

  • Issues  |  APRIL 27, 2015 9:00 AM

    Consumer confusion and cash flow concerns

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    As Malaysians come to terms with living with GST, many are taking steps to conform to its rules and regulations. However, in some sectors and businesses, there are serious issues which are hindering compliance which must be addressed by the government hastily.

  • Corporate  |  APRIL 27, 2015 8:51 AM

    ‘FGV listing stepping stone for Felda’s success’

    Story by

    Felda Global Ventures Holdings Berhad (FGV) was set up to pave the way for the Federal Land Development Board (Felda) to grow into a successful company, Deputy Prime Minister Muhyiddin Yassin said. He said with the FGV in place, Felda …

  • Featured and Exclusive & Opinion  |  APRIL 27, 2015 8:46 AM

    Crash boys

    Story by

    The first question that arises from the Commodity Futures Trading Commission’s (CFTC) case against Navinder Singh Sarao is: Why did it take them five years to bring it? A guy living with his parents next to London’s Heathrow Airport enters a lot of big, …

  • Singapore & World Biz  |  APRIL 27, 2015 8:17 AM

    DBS 1Q core net profit beats forecast with 10% jump

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    DBS Group Holdings , Singapore’s biggest bank, on Monday posted a 10% jump in core first-quarter net profit, above analysts’ estimates, helped by a double-digit rise in loan growth and strong wealth management fees. Loans grew by 11% in the …

  • Corporate  |  APRIL 27, 2015 8:08 AM

    New M’sia-Thailand bridge to begin construction in 2016

    Story by

    The construction of an additional bridge between Malaysia and Thailand is expected to start next year, the deputy director feneral Of the Economic Planning Unit, Prime Minister’s Department, Nik Azman Nik Abdul Majid said. “We have already finalised the facility …

  • Commodities  |  APRIL 27, 2015 7:43 AM

    Gold falls to monthly low

    Story by

    Gold hit its lowest level in more than a month on Friday, falling for the third straight week as strength in global equities diverted interest from the precious metal, although uncertainty over the timing of a US rate rise kept …

  • Finance & Markets  |  APRIL 27, 2015 7:36 AM

    US dollar falls as US businesses cut spending

    Story by

    Data showing a seventh straight monthly decline in US business spending plans knocked the dollar lower on Friday and gave Federal Reserve policymakers even less reason to raise near-zero interest rates any time soon. The euro backed away from a …

  • StockStalk  |  APRIL 27, 2015 7:30 AM

    BAT: Are dividends still smoking post-GST?

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    After the implementation of GST, British American Tobacco (M) Bhd (BAT) has had to reduce its prices back to pre-GST levels on account of competition. Is it really a much tougher market now for the only listed tobacco player?

  • Commodities & Featured and Exclusive  |  APRIL 27, 2015 7:16 AM

    Brent at 4-1/2 month high as fighting continues in Yemen

    Story by

    Oil prices diverged on Friday, with Brent hitting 4-1/2-month highs on continued fighting in Yemen as US crude fell on concerns of another upcoming stock build, though both benchmarks headed toward weekly gains. Fighting between Yemen’s warring factions raged in …

  • Featured and Exclusive & Markets  |  APRIL 27, 2015 7:00 AM

    Tech giants send Nasdaq and S&P to record highs

    Story by

    The Nasdaq Composite and S&P 500 chalked up record high closes on Friday, propelled by strong results from tech behemoths Google, Amazon and Microsoft. The Nasdaq Composite added 0.71% to end at 5,092.09, its second straight record high close. The …

  • Corporate  |  APRIL 26, 2015 7:55 PM

    Perodua sales up 30% to 57,200 units in Q1

    Story by

    Perusahaan Otomobil Kedua Sdn Bhd  (Perodua) sold 57,200 units of cars in the first quarter (Q1) ended March 31, 2015, up 30% from 44,024 units in the same quarter of 2014, due to strong demand for its current models. “March represented our …

  • Corporate  |  APRIL 26, 2015 6:58 PM

    BNM to reduce foreign employment by end-2016

    Story by

    Bank Negara Malaysia (BNM) will engage with companies in the money services business to reduce the level of foreign employment to no more than 3.0% by end-2016 at the industry level. Speaking at the Malaysian Association of Money Services Business’ (MAMSB) anniversary celebration …

  • World Biz  |  APRIL 26, 2015 1:40 PM

    Ferdinand Piech resigns, ending an era at Volkswagen

    Story by

    Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday after losing a showdown he had provoked with chief executive Martin Winterkorn, ending an era at the iconic German carmaker. Piech, the 78-year-old grandson of the …

  • World Biz  |  APRIL 26, 2015 1:30 PM

    Russian hackers read Obama’s unclassified emails

    Story by

    Russian hackers who penetrated sensitive parts of the White House computer system last year read President Barack Obama’s unclassified emails, the New York Times reported on Saturday, quoting US officials. “There is no evidence that the president’s email account itself was hacked, White House …

  • Corporate  |  APRIL 25, 2015 6:19 PM

    MIDF approves RM3.6 bil in in loans for local firms

    Story by

    Malaysian Industrial Development Finance Bhd (MIDF), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), has approved RM3.6 billion in soft loans benefiting 3,259 local firms as of March 31 this year. “Of the total, RM190.57 million was approved for 230 companies in Sarawak,” MIDF …

  • Corporate  |  APRIL 25, 2015 6:12 PM

    Bank Rakyat Q1 pre-tax profit and zakat up 1.4%

    Story by

    Bank Rakyat has recorded an increase of 1.4% in profit before tax and zakat of RM541.83 million for the first quarter ended March 31, 2015, compared to RM534.13 million in the corresponding period of last year. Net profit rose to RM478.88 million compared …

  • Commodities  |  APRIL 25, 2015 4:24 PM

    Gold futures on Bursa to remain bearish

    Story by

    Gold futures contracts on Bursa Malaysia Derivatives are likely to remain bearish next week amid speculation on the timing of a US interest rate hike, a dealer said. Phillip Futures Sdn Bhd dealer Thomas Yew Jia-Jong said the negative sentiment for gold is …

  • Commodities  |  APRIL 25, 2015 4:20 PM

    Tin price to hover around US$15,500 a tonne

    Story by

    The Kuala Lumpur Tin Market (KLTM) is likely to continue its downtrend next week with sellers reluctant to offload their stock. The dealer added that the tin price is expected to hover around US$15,500 a tonne next week, which would push sellers away …