• Economy & Featured and Exclusive  |  APRIL 17, 2014 11:01 PM

    Malaysia and Turkey sign FTA

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    Malaysia and Turkey have entered into a bilateral Free Trade Agreement (FTA) today in Ankara, Turkey. Minister of International Trade and Industry Mustapa Mohamad signed the agreement on behalf of the Malaysian government, witnessed by the PM Najib Abdul Razak.

  • World Biz  |  APRIL 17, 2014 10:59 PM

    General Electric posts profit increase for industrial biz

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    General Electric posted a 12% increase in industrial profits Thursday, as its jet engine, gas turbine and oil industry segments offset losses in healthcare and mining. “The environment was generally positive, and we executed on our operational priorities with strong …

  • World Biz  |  APRIL 17, 2014 10:20 PM

    Morgan Stanley posts 55% rise in quarterly profits

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    US investment bank Morgan Stanley on Thursday reported a rise in first quarter profits of 55% compared to the same period in 2013. Profits hit US$1.45 billion, beating analysts expectations anddemonstrating Morgan Stanley’s ability to weather inclement market conditions. All …

  • World Biz  |  APRIL 17, 2014 9:44 PM

    Mattel posts quarterly loss as Barbie sales plummet

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    Mattel Inc, the world’s largest toymaker, reported a net loss for the first quarter due to a fall in sales of its iconic Barbie dolls and Fisher-Price toys for preschoolers. Worldwide sales of Barbie fell 14% in the quarter ended …

  • World Biz  |  APRIL 17, 2014 9:39 PM

    China Resources chair under investigation by anti-graft body

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    The chairman of state-owned China Resources Holding Co. Ltd., a holding company for a group of businesses in Hong Kong and mainland China, is being investigated for violating party discipline, China’s top anti-graft body said on Thursday. The announcement on …

  • World Biz  |  APRIL 17, 2014 9:32 PM

    Goldman Sachs profit falls 11% but beats estimates

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    Goldman Sachs Group Inc reported an 11% drop in first-quarter profit on Thursday as client activity remained constrained and fixed-income revenue shrank. The Wall Street bank said its net income fell to US$1.95 billion, or US$4.02 per share, in the …

  • Issues  |  APRIL 17, 2014 9:00 PM

    RM20 billion extra value by breaking up


    The disadvantages of Sime Darby’s current conglomerate structure outweigh the benefits — if any. Breaking it up, even if it is hard to do, is a much better path forward for the group, especially as such an exercise could boost the group’s value by some RM20 billion almost immediately.

  • Corporate  |  APRIL 17, 2014 8:38 PM

    RGB Int’l's unit ends sale and purchase agreement

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    Macrocept Sdn Bhd (MCSB) and Diplomat Technology Co Ltd have mutually agreed to terminate the sale and purchase agreement for a share transfer. The share transfer involved an amount of 115,200 ordinary shares in a Cambodian-based casino, Chateau De Bavet …

  • Corporate  |  APRIL 17, 2014 8:18 PM

    Non-revenue water accounts for revenue loss- AWER

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    Water from leaking pipes and water theft, which collectively the industry calls ‘non-revenue water’, account for major revenue losses amounting to RM1.6 billion yearly throughout the country. Association of Water and Energy Research Malaysia (AWER) president, S.Piarapakaran said the loss …

  • Featured and Exclusive & Opinion  |  APRIL 17, 2014 8:07 PM

    Is Bitcoin like high-speed trading?

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    Bitcoins have something in common with high-frequency trading: both are seen as either a huge waste of resources or a useful new technology that will lower costs in the financial industry for the benefit of consumers.

  • Commodities  |  APRIL 17, 2014 7:46 PM

    CPO futures close lower on profit-taking

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    The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today on profit-taking after the recent rally. A trader said the downside was somewhat capped due to positive sentiment still persisting as players expect export demand for palm …

  • Corporate  |  APRIL 17, 2014 7:41 PM

    MASkargo expends cargo network to Hanoi

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    MASkargo Sdn Bhd, the air cargo division of Malaysia Airlines, has launched its first A330-200 freighter flight to Hanoi, Vietnam. In a statement today, MASkargo said the scheduled flights will depart for Hanoi’s Noi Bai International Airport every Wednesday and Friday, …

  • Corporate & Property  |  APRIL 17, 2014 7:36 PM

    Amcorp Properties ink agreement for Japan JV

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    Amcorp Properties Bhd’s wholly-owned subsidiary, AmCorp Far East Ltd, has signed a co-investment agreement with Grosvenor Asia Pacific Ltd, NRJ Investment Ltd and True Lead Investment Ltd, to form a joint-venture (JV) in Japan. Amcorp Properties in a filing to Bursa Malaysia today …

  • Corporate  |  APRIL 17, 2014 7:33 PM

    TM inks agreement with 3 hotels in Labuan

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    Telekom Malaysia Bhd (TM) today signed an agreement with three main hotels in Labuan namely Lazenda Hotel, Palm Beach Resort & Spa Hotel and Labuan Tiara Hotel which subscribed to its hospitality entertainment solution package. TM executive vice-president Azizi A. …

  • Corporate  |  APRIL 17, 2014 7:30 PM

    FGV signs MoUs with two Turkish companies

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    Felda Global Ventures Holdings Bhd (FGV) today announced that it signed non-binding memorandums of understanding with Turkish companies Nanokomp Īleri Teknoloji Malzemeleri Arge Danismanlik Ltd Sti (Nanokomp) and the Evyap group, with the signings witnessed by prime minister Mohd Najib …

  • Corporate  |  APRIL 17, 2014 6:57 PM

    Nestle sees slight dip in 1Q14 profits on early marketing

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    Nestle (Malaysia) Bhd saw a slight dip in pre-tax profits for 1Q14 on  earlier investments on marketing and promotional activities, although quarterly turnover increased 3.7% year-on-year (yoy) to RM1.3 billion. In a regulatory filing, Nestle said its quarterly profits before …

  • Corporate & Featured and Exclusive  |  APRIL 17, 2014 6:23 PM

    Stop water rationing or face protest, says Sgor BN chief

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    Selangor Barisan Nasional (BN) chairman Noh Omar wants the state government to stop water rationing immediately or face protest and legal action.

  • Corporate & Economy  |  APRIL 17, 2014 6:17 PM

    Msian vehicle sales in March up 16% from Feb

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    The Malaysian Automotive Association reports higher March 2014 sales up 16.2% month-on-month or 2.3% year-on-year

  • Corporate & Property  |  APRIL 17, 2014 6:07 PM

    KLCC Property eyeing up to RM1 bil asset buy

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    KLCC Property Holdings Bhd (KLCCP) is confident of acquiring an asset worth up to RM1 billion, said Chief Executive Officer Datuk Hashim Wahir. Speaking to the media after the company’s annual general meeting today, he said KLCCP could make the acquisition locally after …

  • Economy  |  APRIL 17, 2014 6:04 PM

    UK stocks decline as Diageo dips on disappointing sales

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    UK stocks declined, with the benchmark FTSE 100 Index paring its weekly gain, as Diageo Plc tumbled the most since January after reporting a drop in quarterly sales. Diageo fell 3.8 percent, wiping 7.2 points off the FTSE 100 Index, …