• Corporate  |  MAY 25, 2015 7:00 PM

    Kulim records higher Q1 pre-tax profit of RM24.58 mil

    Story by

    Kulim (M) Bhd’s pre-tax profit rose to RM24.58 million for the first quarter ended March 31, 2015 from RM20.2 million recorded in the same quarter last year. However, revenue decreased to RM268.17 million during the period under review from RM276.2 million previously. In …

  • Corporate  |  MAY 25, 2015 6:52 PM

    E&O FY15 pre-tax profit climbs to RM202.44 mil

    Story by

    Eastern & Oriental Bhd’s (E&O) pre-tax profit rose to RM202.44 million in the financial year ended March 31, 2015 from RM167.17 million registered a year ago. In a filing to Bursa Malaysia, the company said this was due to higher gains from investments …

  • Corporate  |  MAY 25, 2015 6:47 PM

    TM forms consortium for MCT submarine cable system

    Story by

    Telekom Malaysia Bhd (TM) seals an agreement with Symphony Communication of Thailand and Telcotech of Cambodia to form a consortium for the establishment of the Malaysia-Cambodia-Thailand (MCT) submarine cable system. The latest intra-regional submarine cable system, which spans about 1,300km, is expected to be …

  • Corporate  |  MAY 25, 2015 6:40 PM

    Takaful M’sia posts 39% increase in Q1 PBT

    Story by

    Syarikat Takaful Malaysia Bhd’s profit before zakat and taxation for the first quarter ended March 31, 2015 rose 39% to RM62.23 million from RM44.7 million registered in the same quarter last year. “The higher profit is attributable to higher wakalah fee income and …

  • Economy  |  MAY 25, 2015 6:29 PM

    FTAs lead to rising exports in Apac — study

    Story by

    A new Asia-Pacific Economic Cooperation (Apec) Policy Support Unit report confirms that regional free trade agreements (FTAs) in the Asia Pacific do make a difference in boosting exports. These preliminary findings were submitted to the Apec Trade Ministers in Boracay (the Philippines) over …

  • Commodities  |  MAY 25, 2015 6:22 PM

    Rubber market closes marginally higher

    Story by

    The Malaysian rubber market ended marginally higher today, lifted by buying support. A dealer said eased concerns over the supply condition had sparked positive sentiment into the market, thus boosted demand for the commodity. The Malaysian Rubber Board’s official physical price for …

  • Corporate  |  MAY 25, 2015 6:17 PM

    EPF i-Akaun usage increases over 100%

    Story by

    The usage of i-Akaun, an online facility to check Employees Provident Fund (EPF) savings, has increased to over 100% in the first quarter ended March 31. EPF said the number of members logging into the service surged 102.65% to 2.91 million from 1.43 …

  • Markets  |  MAY 25, 2015 6:09 PM

    Ringgit ends weaker against US dollar

    Story by

    The ringgit eased against the US dollar at close on Monday on softer demand for the local unit. At 5pm, the local unit contracted against the greenback to 3.6130/5160 from 3.5835/5865 on Friday. A dealer said investors turned their interest to the …

  • Corporate  |  MAY 25, 2015 6:05 PM

    Boustead unit completes SK309 Belum Topsides job

    Story by

    Boustead Penang Shipyard Sdn Bhd (BPS) has completed the load out and sail away of the offshore Belum Topsides (BE-SA) facilities for Murphy Sarawak Oil Co Ltd. BPS is a wholly-owned subsidiary of Boustead Heavy Industries Corporation Bhd (BHIC). The BE-SA facilities will …

  • Corporate  |  MAY 25, 2015 5:54 PM

    FGV unit inks deal to supply premier oil palm seeds

    Story by

    Felda Global Ventures Holdings Bhd’s (FGV) subsidiary Felda Agriculture Services Sdn Bhd (FASSB) has ventured into the Philippine market to supply its premier oil palm seeds to planters in Mindanao. FASSB signed a memorandum of collaboration with the Philippines’ Bali Oil Palm Produce …

  • Corporate  |  MAY 25, 2015 5:40 PM

    Public Packages sees tough 2015 on strong US dollar

    Story by

    Public Packages Holdings Bhd (PPHB) expects 2015 to be a challenging year as the buoyant US dollar continues to put pressure on the pricing of its products and cost sustainability. Executive chairman Koay Chiew Poh said despite this, packaging remains an important component …

  • Markets  |  MAY 25, 2015 5:36 PM

    KL shares close easier; CI down 20.12 pts

    Story by

    Shares on Bursa Malaysia ended lower today with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) 20.12 points easier, weighed down by losses in heavyweights. Meanwhile, Bursa Malaysia issued an unusual market activity query to IFCA MSC over the sharp drop in the …

  • Corporate  |  MAY 25, 2015 5:31 PM

    IFSA 2013 offers depositors account choices

    Story by

    Depositors may now opt for either investment or deposit accounts under the Islamic Financial Services Act (IFSA) 2013. Association of Islamic Banking Institutions Malaysia (Aibim) president Mohd Redza Shah Abdul said customers who opt for investment accounts, which allow them to invest in …

  • Corporate  |  MAY 25, 2015 5:14 PM

    UEM Edgenta gets RM4.72 bil deals since last year

    Story by

    Assets and facilities management provider UEM Edgenta Bhd, formerly known as Faber Group Bhd, has secured major local and overseas contracts worth over RM4.72 billion from last year and to date. Managing director and chief executive officer Azmir Merican said the local contracts …

  • Economy  |  MAY 25, 2015 5:06 PM

    Population growth rate set to drop post-2020

    Story by

    The population growth rate in the country is expected to reduce following the drop in total fertility rate from 2.1 to 1.91 children for the period 2020 to 2035. Women, Family and Community Development Minister Rohani Abdul Karim said the drop in fertility …

  • Corporate  |  MAY 25, 2015 4:47 PM

    Sunway appoints new CEO for Sunway I’ntl Hotels & Resorts

    Story by

    Sunway Group appoints Albert Cheong as the chief executive officer (CEO) of Sunway International Hotels & Resorts, effective May 18, 2015. In a statement, Sunway Group said that Cheong first joined Sunway’s hospitality division in January last year as group general manager …

  • Featured and Exclusive & Markets  |  MAY 25, 2015 4:28 PM

    KL shares head for 4-month low as Tenaga extends slump

    Story by

    Malaysia’s benchmark stock index heads for the lowest close since January as Tenaga Nasional Bhd tumbles and analysts downgrade Sime Darby Bhd after the nation’s largest listed plantation stock reported disappointing earnings. The FTSE Bursa Malaysia KLCI Index sank 1.2% …

  • Corporate  |  MAY 25, 2015 4:10 PM

    MMHE to expand into downstream, onshore sectors

    Story by

    Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) will be expanding into the downstream and onshore segments this year, given the more competitive environment in the global oil and gas industry amid the plunge in oil prices. Managing director and chief executive officer …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 4:04 PM

    Sack MAS’ top brass first, says flight attendants union

    Story by

    The 500 top salary earners in Malaysian Airlines should be trimmed ahead of plans to terminate thousands of lower ranking staff, said the National Union of Flight Attendants Malaysia (Nufam). In a press release today, Nufam said the top salary …

  • Markets  |  MAY 25, 2015 3:28 PM

    KL shares stay lower at mid-afternoon; CI down 19.89 pts

    Story by

    Shares on Bursa Malaysia resumed the afternoon session easier, with the the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) down 19.89 points at 1,767.61 at 3.05pm, weighed down by trade and services stocks. Among top losers were Tenaga, which fell 54 sen to …

  • Corporate  |  MAY 25, 2015 3:20 PM

    Grand-Flo eyes 50% revenue contribution from properties

    Story by

    Tracking solutions provider and property developer Grand-Flo Bhd is aiming to raise the revenue contribution from its property development segment to 50% this year from 20% in 2014. Group president and group managing director Derrick Tan said the company has two ongoing projects …

  • Economy & Singapore  |  MAY 25, 2015 3:02 PM

    S’pore CPI falls 0.5% mainly on decline in oil-related items

    Story by

    The Singapore consumer price index (CPI)-All Items inflation falls 0.5% in April as compared to 0.3% in March, mainly on account of a sharper price decline in oil-related items and a moderation in services inflation. A joint statement released by the Monetary …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 2:32 PM

    1MDB boss Arul Kanda, ex-CEO to skip PAC meet

    Story by

    1Malaysia Development Bhd (1MDB) president and executive director Arul Kanda will not attend the Public Accounts Committee (PAC) meeting tomorrow, PAC chief Nur Jazlan Mohamed confirms. Earlier, sources told Malaysiakini that Arul and former chief executive officer (CEO) Shahrol Halmi, who was …

  • Corporate  |  MAY 25, 2015 1:53 PM

    Barakah receives contract for pigging supply

    Story by

    Barakah Offshore Petroleum Bhd’s unit, PBJV Group Sdn Bhd, has received a letter of award (LOA) from Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd for the supply of operational pigs and pigging accessories, as well as related equipment and services. In …

  • Corporate  |  MAY 25, 2015 1:48 PM

    MMC optimistic on FY15 performance

    Story by

    MMC Corp Bhd, which doubled its net profit last year, is optimistic on maintaining its performance for the financial year ending Dec 31, 2015, driven by its three core businesses. Group managing director Che Khalib Mohamad Noh said the group’s performance last year …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 1:38 PM

    D-day approaches for 8,000 MAS staff

    Story by

    Up to 8,000 Malaysia Airlines (MAS) staff would be axed as the national airline company is set to terminate its entire workforce. 20,000 MAS staffer will either get termination or re-employment letters in the coming days, reports The Star today. Those re-employed …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 1:00 PM

    New MAS expected to focus on medium-range routes

    Story by

    The new Malaysia Airlines (MAS) is expected to become a very important transit hub airline for the region, cutting on long-haul flights to the west and focusing more on regional medium routes. Transport Minister Liow Tiong Lai said MAS would have strong advantage …

  • Commodities  |  MAY 25, 2015 12:59 PM

    KLTM ends US$20 lower at US$15,830 a tonne

    Story by

    The Kuala Lumpur Tin Market (KLTM) closed US$20 easier at US$15,830 a tonne today due to a technical correction, a dealer says. On the London Metal Exchange (LME), the tin price was unchanged at US$15,800 a tonne. The dealer said the price was …

  • Markets  |  MAY 25, 2015 12:53 PM

    KL shares lower at mid-day

    Story by

    Shares on Bursa Malaysia ended the morning session lower today, weighed down by selected heavyweights as general sentiment remained weak. At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was down 17.53 points to 1,769.97, after moving between 1,769.75 and 1,787.64 …

  • World Biz  |  MAY 25, 2015 12:50 PM

    China invites investors to help build RM1.1 tril of projects

    Story by

    China’s state planning agency on Monday released a list of more than 1,000 proposed projects totalling 1.97 trillion yuan (RM1.15 trillion) that it is inviting private investors to help fund, build and operate. The National Development and Reform Commission (NDRC) said the 1,043 …

  • World Biz  |  MAY 25, 2015 12:30 PM

    Tepco, Mitsubishi win power and water project in Qatar

    Story by

    Tokyo Electric Power Co (Tepco) and Mitsubishi Corp won a tender to build and run a 2,400 megawatt power station and a water desalination plant in Qatar. The companies agreed with Qatar General Electricity and Water Corp., also known as …

  • Markets  |  MAY 25, 2015 11:20 AM

    KL shares remain lower at mid-morning

    Story by

    Shares on Bursa Malaysia remained lower  mid-morning weighed down by selected heavyweights. At 11.03 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 13.15 points lower at 1,774.35 points. Among heavyweights, Maybank fell 8.0 sen to RM9.18, Tenaga erased 52 …

  • Corporate & Finance  |  MAY 25, 2015 11:01 AM

    MBSB plans to raise loan-loss coverage ratio to 100%

    Story by

    Malaysia Building Society Bhd, a lender controlled by the country’s biggest pension fund, plans to adopt stricter coverage standards for loan impairments as it prepares to become an Islamic bank. The company known as MBSB wants to raise its loan-loss …

  • Singapore & World Biz  |  MAY 25, 2015 10:46 AM

    S’pore aims to boost trade with New Zealand

    Story by

    Trade and economic links will be on the agenda in talks between New Zealand Foreign Minister Murray McCully and his Singaporean counterpart this week. Singaporean Foreign Minister K Shanmugam will be in New Zealand on Monday and Tuesday, Xinhua news agency reported. “This …

  • Finance & Markets  |  MAY 25, 2015 10:34 AM

    Ringgit halts rally after US indicates rate hike this year

    Story by

    The ringgit halted a two-day gain after Federal Reserve Chair Janet Yellen said the US is on course to raise interest rates this year, in contrast to Malaysia where borrowing costs will likely stay on hold. The ringgit dropped 0.5% …

  • World Biz  |  MAY 25, 2015 10:21 AM

    Sharp’s default risk jumps as gov’t rescue prospects fade

    Story by

    Sharp Corp’s bond risk jumped the most since 2012 on waning prospects for a state-backed rescue. The cost to insure debt in the Japanese supplier of displays to Apple Inc. rose 210 basis points to 751 on May 21, credit-default …

  • Finance & Markets  |  MAY 25, 2015 9:59 AM

    Ringgit opens lower against US dollar

    Story by

    The ringgit eased against the US dollar in early trade today on softer demand for the local unit, said a dealer. At 9.07 am, the local unit was lower at 3.6035/6065 against the greenback from 3.5835/5865 at 5 pm on Friday. The dealer …

  • Markets  |  MAY 25, 2015 9:55 AM

    KL shares open lower on weak global data

    Story by

    Share prices on Bursa Malaysia opened lower due to weak buying sentiment weighed down by the hawkish US Federal Reserve statement and discouraging global economic data. At 9.24 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.21 points easier at 1,781.29 …

  • Corporate & Featured and Exclusive  |  MAY 25, 2015 9:45 AM

    Khazanah appoints PwC chief as MAS administrator

    Story by
    [email protected]

    Khazanah Nasional Bhd has appointed Mohammad Faiz Azmi as administrator for Malaysia Airlines (MAS) as part of the airlines’ transition to a new company Malaysia Airlines Bhd (MAB), according to a media statement today. Faiz is executive chairman of consultancy …

  • World Biz  |  MAY 25, 2015 9:22 AM

    Alibaba fosters local brands to fight counterfeit goods

    Story by

    Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source. In the coastal city …

  • Featured and Exclusive & World Biz  |  MAY 25, 2015 8:53 AM

    No money to pay IMF in June, says Greek minister

    Story by

    Greece cannot make debt repayments to the International Monetary Fund (IMF) next month unless it achieves a deal with creditors, its interior minister said on Sunday, the most explicit remarks yet from Athens about the likelihood of default if talks …

  • OTHERS  |  MAY 25, 2015 8:18 AM

    China Inc is coming to America

    Story by

    Japan led a wave of investment into America in the 1980s. Now it’s China’s turn. A new report described as the first of its kind has broken down how much Chinese money is flowing into America, where it’s going and …

  • Commodities  |  MAY 25, 2015 7:59 AM

    Gold falls as Yellen points to rate hike

    Story by

    Gold eased on Friday, on course for its first weekly decline in four weeks, after US Federal Reserve Chair Janet Yellen said she expected an interest rate hike this year. The dollar extended gains following the speech, after initially climbing …

  • Finance & Markets  |  MAY 25, 2015 7:47 AM

    US dollar rallies on US price data, Fed’s Yellen rate talk

    Story by

    The US dollar turned higher on Friday, spurred off early losses after a US inflation report that indicated underlying pressures are building bolstered the case for the US Federal Reserve to raise interest rates later this year. Remarks by Fed …

  • StockStalk  |  MAY 25, 2015 7:30 AM

    Construction: Helping at the 11th hour?

    Story by
    [email protected]

    The construction sector has always been a vital part of a nation’s growth, with Malaysia being no exception. With the contents of the 11th Malaysia Plan, is the sector being used as a catalyst to achieve economic targets by 2020?

  • Commodities  |  MAY 25, 2015 7:27 AM

    Oil down 2% ahead of long US Memorial Day weekend

    Story by

    Oil fell about 2% on Friday as a rallying dollar and profit-taking ahead of a long US holiday weekend cut short a two-day run-up in crude prices. Heating oil, a proxy play for diesel, also fell almost lost 2% while …

  • Markets  |  MAY 25, 2015 7:17 AM

    Wall St ends lower on Friday

    Story by

    US stocks ended weaker on Friday after Federal Reserve chair Janet Yellen indicated that the central bank was poised to raise interest rates this year, in line with Wall Street’s expectations. Lackadaisical trading volume during the session ended a week …

  • World Biz  |  MAY 24, 2015 9:39 PM

    Fall-off in Indian weddings bodes ill for jewellers

    Story by

    Fewer auspicious days later this year compelled Ramesh Phalke, an auto company employee in India’s Maharashtra state, to hold his daughter’s wedding in May. This bride was lucky because many other weddings will likely be postponed – to the dismay of the country’s jewellers. …

  • Corporate  |  MAY 24, 2015 5:38 PM

    M’sia-Japan trade in 2014 up 1.4%

    Story by

    Malaysia’s total trade with Japan increased by 1.4% in 2014, reaching RM137.45 billion (US$42 billion), said Malaysian Ambassador to Japan Ahmad Izlan Idris. He said Malaysia recorded exports of RM82.71 billion (US$25.26 billion), an increase of 4.4%, while imports from Japan dropped by …

  • Corporate  |  MAY 24, 2015 5:21 PM

    Avoid bankruptcy with good financial planning

    Story by

    The public, especially young people, should have a thorough understanding of financial planning to ensure quality savings, the Malaysian Financial Planning Council (MFPC) said. Its deputy president, Michael Kok Fook On said only with proper financial planning, the public could prepare for a …