• Corporate & Featured and Exclusive  |  MAY 4, 2015 12:47 PM

    ‘MAS can’t recover with bloated workforce’

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    Malaysia Airlines (MAS) cannot recover if it continues to have a bloated workforce, according to the head of a local think-tank. Dr Chin Yew Sin, who is president of the International Strategy Research Centre, lauded Khazanah Nasional Bhd managing director …

  • Featured and Exclusive & World Biz  |  MAY 4, 2015 12:28 PM

    Westpac’s 1H cash profit flat, lags forecasts

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    Westpac Banking Group, Australia’s No. 2 lender by market value, missed forecasts with a flat first-half cash profit as lower treasury income and adjustments to its derivative valuations hurt growth. Australian banks, which came out of the global financial crisis …

  • Economy, Featured and Exclusive, World Biz  |  MAY 4, 2015 12:20 PM

    China April HSBC PMI shows huge drop in factory activity

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    China’s factories suffered their fastest drop in activity in a year in April as new orders shrank, a private business survey showed on Monday, hardening the case for fresh policy stimulus to halt a slowdown in the world’s second-largest economy. …

  • Commodities, Corporate, Featured and Exclusive  |  MAY 4, 2015 12:13 PM

    FGV upbeat on downstream sector revenue growth

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    Felda Global Ventures Holdings Bhd (FGV) is confident of generating higher revenue from its palm oil and palm-related  downstream activities in the next one to two years by exploring new product lines and expanding its production capacity. Head of Palm …

  • Finance  |  MAY 4, 2015 12:06 PM

    Australia seen cutting rates to aid investment

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    Australia’s central bank is likely to cut interest rates for a second time this year on Tuesday as a salve for a painfully high local currency and pallid business investment. A Reuters poll of 27 analysts found 20 expected the …

  • Featured and Exclusive, Finance, Markets  |  MAY 4, 2015 11:37 AM

    China’s yuan falls after weak factory sector survey

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    China’s yuan edged down against the dollar on Monday after a private survey showed activity at the country’s factories shrank at the fastest rate in a year. The HSBC/Markit Purchasing Managers’ Index (PMI) fell to 48.9 in April – the …

  • Corporate & Featured and Exclusive  |  MAY 4, 2015 11:31 AM

    Petronas completes acquisition of Azerbaijan assets

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    Malaysia’s state-owned oil and gas giant Petronas has completed its transaction for the acquisition of oil and gas related assets in Azerbaijan, following a sales and purchase agreement it signed with Norway-based Statoil in October last year. Petronas’ Azerbaijan country …

  • Commodities & World Biz  |  MAY 4, 2015 11:22 AM

    Brazil weighs regulatory relief for debt-ridden Petrobras

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    Brazil is considering lifting a requirement for its national oil company to operate all new projects in a deepwater region where exploration costs are some of the highest in the industry. Any changes to regulations for the so-called pre-salt area …

  • Commodities & World Biz  |  MAY 4, 2015 11:15 AM

    Coal shortage hits India where it hurts

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    Prime Minster Narendra Modi’s plans to shift India’s economy toward manufacturing and away from agriculture and services are being held up by a coal shortage. Actually, there’s plenty of coal, just not enough trains to get it to the power …

  • Opinion  |  MAY 4, 2015 11:07 AM

    Britain’s silent election

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    LONDON – Other people’s elections are usually baffling and boring, which is certainly true of the United Kingdom’s coming vote on May 7; indeed, many Britons share the sentiment. The longest election campaign in UK history has been strikingly short …

  • Featured and Exclusive & Opinion  |  MAY 4, 2015 10:54 AM

    Will the TPP help Latin America?

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    SANTIAGO – With the International Monetary Fund having just cut its forecasts for economic growth in Latin America for the fifth year in a row, the region’s countries are casting about for ways to reignite investment and boost productivity. They …

  • Opinion  |  MAY 4, 2015 12:00 AM

    Staying the course

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    [email protected]

    Every day we receive messages from Malaysians of all walks-of-life. Many are hopeful for the work that goes in to the National Transformation Programme (NTP). Others criticise and question our progress. One thing is clear. These feedback – good, bad …

  • World Biz  |  MAY 3, 2015 9:11 PM

    McD’s faces ‘show me’ moment with new CEO

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    McDonald’s new CE Steve Easterbrook is set to unveil his plan on Monday to revive growth as the world’s largest hamburger chain struggles to win back consumers and investors. He’ll be aiming to persuade people such as Janna Sampson, co-chief investment officer at …

  • Economy  |  MAY 3, 2015 4:50 PM

    Palm oil to boost M’sia-S.Korea trade

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    Malaysian palm oil and related products are the main pillars that will boost its trade with South Korea (the Republic of Korea), said Malaysian Ambassador to the republic, Rohana Ramli. She said South Korea’s total imports of palm oil from Malaysia grew …

  • World Biz  |  MAY 3, 2015 1:28 PM

    Siemens healthcare unit probed for bribery

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    A Chinese regulator investigated Siemens AG last year over whether the German group’s healthcare unit and its dealers bribed hospitals to buy expensive disposable products used in some of its medical devices, three people with knowledge of the probe told Reuters. The investigation, which …

  • Corporate  |  MAY 2, 2015 7:41 PM

    IJM to consider buying 1MDB’s power assets

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    Malaysian construction firm IJM Corp Bhd is considering buying Edra Global Energy Bhd, the power assets owned by debt-laden state investment arm 1Malaysia Development Bhd (1MDB), financial weekly The Edge Malaysia reported on Saturday, citing industry sources. IJM, with a market value of RM13 …

  • World Biz  |  MAY 2, 2015 7:33 PM

    S’pore unemployment dips slightly

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    The unemployment rate in Singapore remained low and trended down over the past four quarters as the labour market remained tight. There were fewer layoffs across major industries, and lower unemployment for citizens and residents in the first quarter of 2015. Employment continued …

  • Commodities  |  MAY 2, 2015 12:08 PM

    Positive sentiment to push rubber mart higher

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    Positive sentiment is likely to continue driving the Malaysian rubber market higher next week, moving in tandem with its bullish peers, a dealer said. The dealer said last week’s upside momentum would remain in the market, spurred by top rubber growers Thailand and …

  • Editor's Picks & Featured and Exclusive  |  MAY 2, 2015 12:06 PM

    Dear 1MDB, here’s what you need to tell Malaysians

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    [email protected]

    Here's a selection of our best news, analyses and commentaries this week in case you missed any.

  • Commodities  |  MAY 2, 2015 11:20 AM

    Tin price to sustain at US$15,800 a tonne

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    Tin price on the Kuala Lumpur Tin Market (KLTM) is expected to sustain at the current level of US$15,800 a tonne next week, with buying support coming from European and Japanese traders, a dealer said. “Sellers are reluctant to sell as the KLTM …

  • Commodities  |  MAY 2, 2015 11:06 AM

    Gold to trade between RM135 and RM142

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    Gold futures contracts on Bursa Malaysia Derivatives are likely to trade sideways next week, moving between RM135 and RM142 a gramme, a dealer said. Phillip Futures Sdn Bhd dealer Ong Su Ling said traders would be watching US data intensely to gauge …

  • Finance  |  MAY 2, 2015 10:28 AM

    Ringgit to continue uptrend against greenback

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    The ringgit is poised to continue its uptrend against the US dollar next week, lifted by the weakening of the greenback, rebound in oil prices, coupled with the Federal Reserve’s (Fed) delay in interest rate hike, a dealer said. The dealer said investors …

  • Markets  |  MAY 2, 2015 10:21 AM

    Bursa to trade lower on profit taking

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    The local stock market is expected to trade lower next week on profit-taking, influenced by poor gross domestic product (GDP) growth in the United States and Japan. Affin Hwang Investment Bank vice-president/head of retail research Nazri Khan Adam Khan said in view …

  • Commodities  |  MAY 1, 2015 4:15 PM

    Oil has best monthly gain in 6 years

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    Oil rounded out its best monthly gain in six years on Thursday, with the two global benchmarks for crude rising between 20% and 25% in April, helped by a weaker dollar and bets that a supply glut would ease. After …

  • Markets  |  MAY 1, 2015 4:08 PM

    Wall St drops with tech shares

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    US stocks, led by the Nasdaq, sold off on Thursday as Apple shares declined, and tech and biotech quarterly results disappointed. Upbeat economic reports added to uncertainty about the outlook for interest rates, a day after data showed the US …

  • Commodities  |  MAY 1, 2015 3:55 PM

    Gold falls 2% after better-than-forecast US jobs data

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    Gold fell 2% on Thursday after better-than-forecast US jobs data encouraged investors to sell the traditional safe-haven market, reviving expectations the Federal Reserve could raise interest rates soon. Data on Thursday showed claims for state unemployment benefits declined 34,000 to …

  • Markets  |  MAY 1, 2015 3:23 PM

    US dollar up vs yen on US data

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    The dollar rose against the Japanese yen Thursday after US data showed signs of a stabilizing labor market and an economy that was gathering momentum, putting the Federal Reserve on track to raise interest rates at least once this year. …

  • Featured and Exclusive & Opinion  |  MAY 1, 2015 10:00 AM

    Beyond Silicon Valley

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    Berkely – Once again, California’s Silicon Valley is confirming its status as a mecca of high-tech entrepreneurship and wealth creation. But it is not a model for job creation and inclusive growth that policymakers and entrepreneurs elsewhere can emulate – …

  • Featured and Exclusive & World Biz  |  APRIL 30, 2015 10:02 PM

    George Soros may face billion-dollar tax bill

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    George Soros likes to say the rich should pay more taxes. A substantial part of his wealth, though, comes from delaying them. While building a record as one of the world’s greatest investors, the 84-year-old billionaire used a loophole that …

  • Corporate  |  APRIL 30, 2015 9:44 PM

    Westports posts higher Q1 PBT of RM159.6 mil

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    Westports Holdings Bhd registered a higher pre-tax profit of RM159.6 million in its first quarter ended March 31, 2015 compared with RM131.64 million recorded in the same period last year. In a statement today, Westports said the higher pre-tax profit was mainly aided …

  • Featured and Exclusive & World Biz  |  APRIL 30, 2015 9:39 PM

    RM220 mil is too much inheritance

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    Fortunately for the kids, US$26 million out of every US$100 million is seen as too little.

  • Economy & Featured and Exclusive  |  APRIL 30, 2015 9:16 PM

    US rep ‘reasonably optimistic’ on fast track trade bill

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    The head of Representatives House panel responsible for trade said on Thursday he is “reasonably optimistic” about the outlook for legislation to streamline the passage of trade deals through Congress and expects the bill to pass. Ways and Means Committee chairman Paul Ryan, …

  • Corporate & Featured and Exclusive  |  APRIL 30, 2015 9:09 PM

    Fuel prices remain unchanged for May

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    The retail prices of RON95 and RON97 petrol, as well as diesel for May 2015 will be maintained at the current levels, a Domestic Trade, Cooperatives and Consumerism Ministry (MDTCC) spokesperson told Bernama today. The prices will be unchanged for the third …

  • World Biz  |  APRIL 30, 2015 9:07 PM

    Exxon Q1 profit tops forecasts despite 46% slide

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    Exxon Mobil Corp reported a smaller-than-expected drop in quarterly profit on Thursday as oil and gas output and refining results grew even as lower crude prices ate into earnings at the world’s largest publicly traded oil company. “It was a strong quarter,” said …

  • Corporate  |  APRIL 30, 2015 8:48 PM

    Teraju allocates RM15 mil for S’wak entrepreneur scheme

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    The Bumiputera Agenda Steering Unit (Teraju) has allocated RM15 million to the Entrepreneur Development Fund Scheme under the Sarawak Bumiputera Entrepreneur Development Unit. In a statement today, Teraju chief executive officer Husni Salleh said the fund would be used to facilitate entrepreneurial capacity …

  • Economy & Featured and Exclusive  |  APRIL 30, 2015 8:39 PM

    US jobless claims at lowest level since 2000

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    The number of Americans filing new claims for unemployment benefits last week dropped to the lowest level since 2000, suggesting March’s moderation in job growth was likely an aberration. Initial claims for state unemployment benefits declined 34,000 to a seasonally adjusted 262,000 for the …

  • Singapore  |  APRIL 30, 2015 8:31 PM

    MAS imposes stricter rules on 7 important banks

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    The Monetary Authority of Singapore (MAS) has identified seven banks as important to its financial system and economy and will subject them to stricter supervision and higher capital requirements. The measures will apply to three local and four overseas lenders, …

  • Singapore  |  APRIL 30, 2015 8:25 PM

    CapitaLand Q1 profit rises 9.4%

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    CapitaLand Ltd, Southeast Asia’s largest property developer, said profit from continuing operations rose 9.4% in the first quarter, thanks to a bigger contribution from an increased stake in its shopping mall business as well as portfolio gains. Profit after tax and minority interest …

  • Finance  |  APRIL 30, 2015 8:07 PM

    Longer-term interbank rates moderate in Feb, March

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    Longer-term interbank rates experienced a moderation in February and March, easing funding pressures on banks. This is following Bank Negara Malaysia’s (BNM) announcement of arrangements to facilitate a smooth transition to the full implementation of the Liquidity Coverage Ratio by 2019. In a …

  • Singapore  |  APRIL 30, 2015 7:59 PM

    Rowsley reports PBT jumps 70% in Q1

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    Rowsley Ltd’s net attributable profit for the first quarter ended March 31, 2015 (1Q15) rose by 70% to S$3.1 million (RM8.33 million) from S$1.8 million in the same quarter last year. In a statement, it said the group revenue, however, dropped 25% …

  • Corporate  |  APRIL 30, 2015 7:54 PM

    Modenas grabs 9% local market share

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    Motosikal Dan Enjin Nasional Sdn Bhd (Modenas) announced that it had strengthened its domestic motorcycle market share to 9% in 2014. “Although the national motorcycle industry experienced a 10% dip in sales, more than 46,000 units of Modenas motorcycles were sold in 2014, strengthening …

  • Economy  |  APRIL 30, 2015 7:48 PM

    M’sia to see greater inflow of German Investments

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    Germany’s investment profile in Malaysia will continue to grow with greater inflow of investments into the electrical and electronics (E&E) and energy sectors this year. Malaysian-German Chamber of Commerce and Industry executive director, Alexander Stedtfeld, said Malaysia plays a pivotal role as a …

  • Economy & Featured and Exclusive  |  APRIL 30, 2015 7:36 PM

    M’sia education policy among the best, says Dr M

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    Mahathir says it cannot be denied that Malaysia has among the best education policy as 25% of the nation's budget is devoted to the sector, compared to only 3% by other countries.

  • Corporate  |  APRIL 30, 2015 7:27 PM

    32,760 firms fail to submit annual statements in 2014

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    A total of 32,760 companies failed to submit and file their company annual statements in 2014, said the Companies Commission of Malaysia (CCM) today. In a statement, CCM said out of the total, some 22,384 companies, or 68.32%, were companies with office addresses …

  • Corporate  |  APRIL 30, 2015 7:18 PM

    Ekuinas still open to Burger King sale

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    [email protected]

    Government-linked private equity firm Ekuiti Nasional Bhd remains open to interest from third parties for the sale of its stake in Burger King following the change of heart by Brahim’s Holdings Bhd. “Our focus is to turn around Burger King, …

  • Corporate  |  APRIL 30, 2015 7:10 PM

    Luster acquires 60% stake in Cambodia gaming firm

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    Luster Industries Bhd will fork out US$4.2 million (RM14.9 million) for a 60% stake in Cambodian gaming firm Pan Cambodian Lottery Corporation Ltd. The acquisition will be funded internally, Luster Precision Engineering Sdn Bhd deputy managing director Liang Wooi Gee said. Luster Precision …

  • Corporate  |  APRIL 30, 2015 7:03 PM

    Cahya Mata to raise production with 2 new plants

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    Cahaya Mata Sarawak (CMS) has ordered two new mobile premix plants to increase its production of high-quality asphaltic concrete (premix) and bitumen emulsion to meet the increasing demand in Sarawak. CMS group managing director Richard Curtis said this is also to cater to …

  • Economy  |  APRIL 30, 2015 6:56 PM

    ABAC highlights 4 critical issues at Asean summit

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    The Asean Business and Advisory Council (ABAC) stressed four critical issues to leaders at the recent Asean Summit, including the setting up of a regional bank and the elimination of non-tariff barriers towards the formation of the Asean Economic Community (AEC). The council …

  • Corporate  |  APRIL 30, 2015 6:46 PM

    FGV looks to maintain profit with aggressive replanting

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    Felda Global Ventures Plantations (M) Sdn Bhd will continue to look for old oil palm plantations, or brownfields, to ensure financial flows and the company’s profit are maintained by practising aggressive replanting. Its vice president and head of cluster plantation, Abdul Halim Ahmad, …

  • Corporate & Featured and Exclusive  |  APRIL 30, 2015 6:40 PM

    Customs postpones directive on prepaid reloads

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    The Customs Department has postponed its directive to telcos to revert to the original prices of prepaid reload cards, without the goods and services tax (GST) included, which was to take effect from tomorrow (May 1).