• Markets  |  JUNE 2, 2015 1:14 PM

    KL shares almost flat at mid-day

    Story by

    Shares on Bursa Malaysia retreated from earlier losses to end the morning session slightly lower today as buying interest emerged in heavyweights stocks, dealers say. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI), was down 0.14 point to 1,743.27, …

  • World Biz  |  JUNE 2, 2015 12:45 PM

    Ford to make 40,000 more vehicles by cutting downtime

    Story by

    Ford Motor Co said it will produce nearly 40,000 additional vehicles by reducing summer shutdowns at its North American plants to one week from two.

  • Corporate  |  JUNE 2, 2015 12:40 PM

    AirAsia X inks promotion deal with Australia’s FLT

    Story by

    AirAsia X, the long-haul low-cost carrier, and an affiliate of AirAsia Group, has signed an agreement with The Flight Centre Travel Group (FLT) to strengthen its distribution channel in Australia. Under the agreement, FLT and AirAsia Group will work together proactively to promote …

  • World Biz  |  JUNE 2, 2015 12:36 PM

    Hyundai shares slide 9% to lowest level in almost 5 years

    Story by

    Hyundai Motor Co shares slid 9% to their lowest levels in nearly five years on Tuesday, hit by lacklustre sales in the US and China and as a weakening yen against the won rekindled worries about exports.

  • Commodities  |  JUNE 2, 2015 12:29 PM

    Indonesia to seek oil supply deals at Opec meeting

    Story by

    Indonesia will meet with Middle East oil producers on the sidelines of an Opec meeting in Vienna this week to negotiate possible long-term crude supply agreements for its refineries, a senior government official said. The Southeast Asian country, which is …

  • Featured and Exclusive & Opinion  |  JUNE 2, 2015 12:00 PM

    The business case for sustainability

    Story by

    BERKELEY – Investors worldwide are increasingly seeking investment opportunities that promise to bring environmental and social benefits, in addition to market rates of return. If this trend continues, with the advancement of environmental or social objectives enhancing an investment’s value, …

  • Corporate  |  JUNE 2, 2015 11:57 AM

    SC files suit against WCT Deputy MD for insider trading

    Story by

    The Securities Commission Malaysia (SC) recently filed a suit against three individuals namely Chan Soon Huat, Goh Ching Liong and Leong Ah Chai for insider trading in the shares of WCT Bhd. The SC filed the action against Goh and Leong on …

  • Markets  |  JUNE 2, 2015 11:40 AM

    KL shares remain lower at mid-morning

    Story by

    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained slightly lower mid-morning as renewed buying interest emerged in selected heavyweights, a dealer said. As at 11.01 am, the FBM KLCI eased 1.59 points to 1,741.82, after opening 0.07 of a point better at …

  • Corporate & Featured and Exclusive  |  JUNE 2, 2015 11:34 AM

    WCT director denies SC’s insider trading charges

    Story by
    [email protected]

    WCT Holdings said its deputy managing director Goh Chin Liong denies the allegations and is seeking legal advice

  • Corporate, Featured and Exclusive, World Biz  |  JUNE 2, 2015 10:20 AM

    Intel to buy Altera for RM61 bil in its biggest deal ever

    Story by

    Intel Corp agreed to buy Altera Corp for US$16.7 billion (RM61.1 billion) as the world’s biggest chipmaker seeks to make up for slowing demand from the PC industry by expanding its line-up of higher-margin chips used in data centers. By …

  • Economy, Featured and Exclusive, World Biz  |  JUNE 2, 2015 10:00 AM

    Cautious consumers cast doubt on US growth outlook

    Story by

    US consumer spending growth unexpectedly stalled in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter. But after a slump in economic …

  • Finance & Markets  |  JUNE 2, 2015 9:56 AM

    Ringgit opens lower against the US dollar

    Story by

    The ringgit was lower against the US dollar, in early trade, on lack of demand for the local unit. At 9.30 am, the local unit traded at 3.6945/6975 from 3.6820/6850 on Monday. Against other major currencies, the ringgit was traded mixed. …

  • Markets  |  JUNE 2, 2015 9:51 AM

    KL shares open slightly higher

    Story by

    Share prices on Bursa Malaysia opened slightly higher but tapered off thereafter with gains limited by the bearish performance in most heavyweights, dealers said. As at 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.59 points easier at 1,739.82, after …

  • Corporate & World Biz  |  JUNE 2, 2015 8:37 AM

    Sky News reports HSBC set to cut 20,000 jobs globally

    Story by

    HSBC Holdings Plc, Europe’s largest bank, will announce a plan next week to cut thousands of jobs, Sky News reported, citing unidentified people close to the matter. Chief executive officer Stuart Gulliver will disclose a target when he updates shareholders …

  • World Biz  |  JUNE 2, 2015 8:23 AM

    Google says 21% of tech hires in 2014 were women

    Story by

    Google Inc said 21% of tech hires last year were women, boosting overall number of women in technical roles by 1%, as part of efforts to increase diversity. The company recently began disclosing the makeup of its workforce after admitting …

  • World Biz  |  JUNE 2, 2015 8:14 AM

    Toronto seeks injunction to stop Uber

    Story by

    Taxi drivers packed a courtroom in Canada’s largest city on Monday as Toronto stated its case for the Uber ride-sharing service to be regulated like the traditional cab companies with which it competes. Toronto is seeking an injunction to halt …

  • Issues  |  JUNE 2, 2015 8:00 AM

    The identity of the fiend

    Story by
    [email protected]

    In this part of the series, KINIBIZ looks towards the question of what is money laundering, establishing the identity of the crime, as well as its possible beneficiaries. At the same time, KINIBIZ looks towards a few notable cases of this crime.

  • Commodities  |  JUNE 2, 2015 7:56 AM

    Gold steadies as dollar rallies after strong US data

    Story by

    Gold was little changed on Monday, giving up gains as the dollar rallied after the precious metal was initially buoyed by an unexpected stall in US consumer spending and comments on interest rates from a Federal Reserve’s official. Spot gold …

  • Finance & Markets  |  JUNE 2, 2015 7:30 AM

    Dollar hits 12-year peak against yen on strong US data

    Story by

    The US dollar rose on Monday, hitting a 12-1/2-year peak against the yen after the release of stronger-than-expected data on US manufacturing and construction spending, while renewed worries over a Greek default contributed to the euro’s weakness. Reports showed US …

  • Commodities  |  JUNE 2, 2015 7:25 AM

    Oil falls on high Opec output, firmer dollar

    Story by

    Oil settled down as much as 1 percent on Monday, retreating from Friday’s sharp rally on a strong dollar and concern over stubbornly high supplies as Opec was expected to stick with robust production at its meeting this week. The …

  • Markets  |  JUNE 2, 2015 7:16 AM

    Wall Street edges up after recent losses, mixed data

    Story by

    US stocks ended with modest gains on Monday, recovering part of last week’s losses in a session marked by cautious trading as investors reacted to mixed economic data. A report from ISM showed the pace of manufacturing growth rose in …

  • Corporate  |  JUNE 1, 2015 9:10 PM

    Bank Rakyat plans collaboration with BRI

    Story by

    Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) plans to expand its services to Indonesia through a collaboration with the republic’s biggest bank PT Bank Rakyat Indonesia (BRI). Bank Rakyat president Mustafha Abd Razak said via the collaboration, both banks will provide banking services …

  • Corporate  |  JUNE 1, 2015 8:40 PM

    Ewein Land to incorporate new 60%-owned unit

    Story by

    Precision sheet metal fabricator Ewein Bhd’s wholly-owned subsidiary Ewein Land Sdn Bhd receives the nod from its board of directors to incorporate a new 60%-owned subsidiary in Malaysia, Ewein Zenith II Sdn Bhd. In a filing to Bursa Malaysia, Ewein said an application …

  • Corporate  |  JUNE 1, 2015 8:36 PM

    Najib launches BRT Sunway Line

    Story by

    Prime Minister Najib Abdul Razak today launches the country’s first public transportation system using environment-friendly technology. He said the Bus Rapid Transit (BRT) Sunway Line, developed by the Prasarana Group and the Sunway Group, is a public transportation project of international standard and a …

  • Corporate  |  JUNE 1, 2015 8:20 PM

    Sunway contributes RM123 mil for BRT Sunway Line

    Story by

    Sunway Bhd has contributed RM123 million to construct the elevated Bus Rapid Transit (BRT) Sunway Line costing a total of RM634 million, says Sunway Group founder and chairman Jeffrey Cheah. BRT-Sunway Line is implemented under the innovative public-private partnership (PPP) programme via …

  • Corporate  |  JUNE 1, 2015 8:14 PM

    Takaso unit in JV for Kuantan mixed development

    Story by

    Manufacturer of condom and babycare products Takaso Resources Bhd enters into a joint-venture arrangement for property development activities in Pahang. In its filing to Bursa, it said its 70% subsidiary Takaso Development (Kuantan) Sdn Bhd entered into a joint venture with SSPP Development Sdn Bhd for …

  • Property  |  JUNE 1, 2015 8:10 PM

    House price bubble grips Sydney, govt official says

    Story by

    Sydney is in the grip of a housing bubble, Australia’s most-senior economic bureaucrat said in one of the strongest warnings yet by a government official. “When you look at the housing price bubble evidence, it’s unequivocally the case in Sydney …

  • Corporate  |  JUNE 1, 2015 7:20 PM

    Oman Air unveils Muscat-KL daily direct flights

    Story by

    Oman Air announces plans to step up its operation by offering daily nonstop flights from Muscat to Kuala Lumpur starting today, Aviation reports. The new service will meet growing demand for fast and convenient flights between the two cities and further build on …

  • Opinion  |  JUNE 1, 2015 6:45 PM

    In economics, what calculates isn’t always right

    Story by

    Some of the leading names in economics – New York University’s Paul Romer and Nobel laureates Robert Lucas and Edward Prescott – have gotten into an unusually public tiff over the proper use of math. Academic as it may seem, …

  • Corporate  |  JUNE 1, 2015 6:07 PM

    1BestariNet gets warm response at int’l forum

    Story by

    1BestariNet, the Education Ministry’s virtual learning environment (VLE) is one of the attractions at the 14th International Tamil Internet Conference in Singapore today. Malaysian delegate Selvanathan Muniandy said the technology-based project received overwhelming interest from participants since it is able to …

  • Corporate  |  JUNE 1, 2015 5:54 PM

    Biotech Corp eyes RM4 bil in investments this year

    Story by

    Malaysian Biotechnology Corp (BiotechCorp) expects to attract investments valued at RM4 billion this year, says chief executive officer Mohd Nazlee Kamal. He said the BiotechCorp trade and investment promotion missions to Italy and the US between June 9 and June 18 are …

  • Markets  |  JUNE 1, 2015 5:51 PM

    Ringgit ends weaker against US dollar

    Story by

    The ringgit fell to its weakest against the US dollar in almost seven weeks, influenced by lower oil prices, a dealer says. At 5pm, the local unit was lower at 3.6820/6850 from last Friday’s 3.6660/6690. The dealer said as Malaysia is a net …

  • Commodities  |  JUNE 1, 2015 5:47 PM

    Rubber market ends firmer

    Story by

    Natural rubber prices on the Kuala Lumpur rubber market closed firmer Monday, extending last week’s rally, on the back of persistent buying momentum amid the weaker ringgit. “Prices steadied following supply constraints and over a report on strong demand from China,” a dealer …

  • Markets  |  JUNE 1, 2015 5:44 PM

    KL shares close lower on profit taking

    Story by

    Share prices on Bursa Malaysia closed weaker on persistent profit taking in selected heavyweight counters amid the mixed performance on regional bourses, dealers say. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 4.11 points to 1,743.41 after hovering between 1,732.27 and …

  • Corporate & Featured and Exclusive  |  JUNE 1, 2015 5:37 PM

    ‘Malaysia Airlines to remain long-haul full-service carrier’

    Story by
    [email protected]

    The new Malaysia Airlines will remain a full-fledged long-haul international carrier with the aim of breaking even by 2018, says new chief executive officer Christoph Mueller. The German says that a hard reset is needed at the airline to bring it out of the doldrums.

  • Corporate & Launches  |  JUNE 1, 2015 4:33 PM

    AirAsia offers lower fares for Ramadhan

    Story by
    [email protected]

    AirAsia is offering all-in-fares from as low as RM8 one way to domestic destinations, including intra-East Malaysia routes for the travel period from June 15 to July 15, which coincides with the month of Ramadhan; while destinations in Indonesia as …

  • Featured and Exclusive & Opinion  |  JUNE 1, 2015 4:15 PM

    The inflation puzzle

    Story by

    CAMBRIDGE – The low rate of inflation in the United States is a puzzle, especially to economists who focus on the relationship between inflation and changes in the monetary base. After all, in the past, increases and decreases in the …

  • Markets  |  JUNE 1, 2015 4:10 PM

    KL shares remain lower at mid-afternoon

    Story by

    Shares on Bursa Malaysia resumed the afternoon session easier, with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) down 8.15 points at 1,739.37 at 3.15pm, weighed down by selling in most heavyweight stocks. Among top losers were BAT, which fell 84 sen to …

  • Corporate  |  JUNE 1, 2015 3:28 PM

    Bursa issues UMA query to Microlink Solutions

    Story by

    Bursa Malaysia issues an unusual market activity (UMA) query on Microlink Solutions Bhd due to the recent sharp rise in its share price. As at 3pm, it stood at RM1.79, up 9 sen, with 1.65 million shares transacted. Microlink Solutions is a company focused solely …

  • Corporate & Property  |  JUNE 1, 2015 3:20 PM

    Kwasa Land seeks partners for Kwasa Damansara

    Story by

    Kwasa Land Sdn Bhd, a wholly-owned subsidiary of the Employees Provident Fund (EPF), announces another round of pre-qualification of potential development partners for its 943-hectare iconic Kwasa Damansara township. In a statement today, Kwasa Land said it sought to pre-qualify three categories of developers to …

  • Featured and Exclusive & Opinion  |  JUNE 1, 2015 3:12 PM

    The 11MP: Where are the equity distribution figures?

    Story by

    A core issue in any Malaysia Plan is the table on equity distribution figures among ethnic groups. However, the latest available figures dated back to as far as 2008. Why has the table not been updated to reflect current figures, …

  • OTHERS  |  JUNE 1, 2015 3:12 PM

    ‘Chinese Stocks are overvalued by more than 20%’

    Story by

    Despite pulling back ever so slightly over the past week, the Shanghai Composite Index is still up a staggering 126% over the past 12 months. Thus, it’s no surprise that investors and traders are asking if the exchange is broadly overvalued. In …

  • Featured and Exclusive & Opinion  |  JUNE 1, 2015 2:55 PM

    Greece, Argentina, and the middle-income trap

    Story by

    SANTIAGO – Aside from an established tradition of bad macroeconomics, what do Greece and Argentina have in common? One answer is that they were the world’s longest-held captives of the so-called middle-income trap – and remain within its reach to …

  • Markets  |  JUNE 1, 2015 2:48 PM

    China RM2 tril stock wipeout reminds traders of 2007

    Story by

    The rout wiped out about US$350 billion (RM1.3 trillion) of market value in a week on the Shanghai and Shenzhen exchanges. It traumatised traders that eight years later they still refer to the decline by the date it began: the …

  • Corporate & Featured and Exclusive  |  JUNE 1, 2015 2:37 PM

    MAS retains current domestic, international routes

    Story by

    Malaysia Airlines Bhd (MAB) will retain the current domestic and international routes of Malaysian Airline System Bhd (MAS), but focus on a competitive cost structure in pursuit of becoming the regional leader by 2018. The company will also retain the existing aircraft fleet. MAB …

  • World Biz  |  JUNE 1, 2015 2:31 PM

    Toshiba gets nod to extend deadline for earnings release

    Story by

    Toshiba Corp shares rise to the highest in more than three weeks after gaining approval to delay its earnings release and setting a date for its annual shareholder meeting, steps that may help avoid a delisting. The shares rose 3.3% to …

  • Economy & Featured and Exclusive  |  JUNE 1, 2015 1:57 PM

    India aims to fill void as China climbs value chain

    Story by

    It may sound like another example of rivalry between the world’s most populous nations. The Communist Party recently announced a Made in China programme aimed at transforming its manufacturing sector, months after Prime Minister Narendra Modi unveiled his Make in …

  • World Biz  |  JUNE 1, 2015 1:36 PM

    Holcim, Lafarge enter final merger step with share offer

    Story by

    Holcim Ltd and Lafarge SA enter the final step of their planned merger to create a cement giant with about US$35 billion (RM128.14 billion) in sales, with the Swiss company beginning an exchange offer for all of its competitors shares. …

  • Markets  |  JUNE 1, 2015 1:17 PM

    KL shares easier at mid-day

    Story by

    Shares on Bursa Malaysia ended the morning session easier and in line with most key indices in the Asia Pacific. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 11.59 points to 1,735.93, after moving between 1,732.27 and …

  • Commodities  |  JUNE 1, 2015 1:04 PM

    KLTM ends US$30 lower at US$15,550 a tonne

    Story by

    The Kuala Lumpur Tin Market (KLTM) closed US$30 lower at US$15,550 per tonne today, despite the higher price of the metal on the London Metal Exchange (LME), a dealer says. The LME tin price rose US$50 to settle at US$15,600 a tonne. …