• World Biz  |  JULY 31, 2015 12:51 PM

    Facebook shares dip as results fail to impress

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    Facebook Inc’s shares fell as much as 5% on Thursday, after the company’s weak advertising sales growth outlook dampened investor expectations boosted by Google Inc’s strong report earlier this month. Facebook’s shares rallied 7% since the search giant reported a …

  • Corporate  |  JULY 31, 2015 12:26 PM

    IJM outstanding order book hits RM7 bil

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    Construction group IJM Corp Bhd’s outstanding order book hits a record high of about RM7 billion, fuelled by new projects it secured domestically during its financial year ended March 31, 2015. Major projects secured during the financial year include the West Coast Expressway …

  • Economy, Featured and Exclusive, World Biz  |  JULY 31, 2015 12:24 PM

    TPP negotiators chase elusive final deal in tough talks

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    Pacific Rim trade ministers neared the final spurt of negotiations on an ambitious free trade pact on Thursday, but differences over farm exports and monopoly periods for next-generation drugs kept them short of an elusive final deal. Ministers from the …

  • Corporate, Featured and Exclusive, Markets  |  JULY 31, 2015 12:11 PM

    Analysts disagree with RM4 per US dollar prediction

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    Foreign exchange analysts disagreed with the prediction made by some currency dealers that the ringgit will hit RM4 against the US dollar in three months. In an article today, The Star reported dealers had got offers to enter into a …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 11:56 AM

    Gani’s removal means another constitutional crisis?

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    If not for the cabinet reshuffle announced on Tuesday, the sacking of Abdul Gani Patail as the attorney-general earlier that day would have hogged the headlines and may even have sparked the biggest constitutional crisis in the country since 1988. …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 11:30 AM

    ‘Reunion plane debris almost certainly from Boeing 777′

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    Plane debris washed up on the French island of Reunion in the Indian Ocean is almost certainly part of a Boeing 777, a Malaysian official and aviation experts said, potentially the biggest breakthrough in the search for missing Flight MH370. …

  • Markets  |  JULY 31, 2015 11:24 AM

    KL shares continue to trade higher at mid-morning

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    Bursa Malaysia continued trading higher mid-morning boosted by buying interest in small caps and lower liners, dealers said. At 11.02 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.13 points higher at 1,711.05. On the scoreboard, the FBM Emas Index rose …

  • Economy & World Biz  |  JULY 31, 2015 11:07 AM

    Japan’s economy may have contracted in 2Q

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    Japan’s household spending unexpectedly fell and inflation stalled in June, heightening the chance the economy may have contracted in April-June and casting doubt on the central bank’s view growth will rebound solidly in the current quarter. Friday’s batch of soft …

  • Corporate & Featured and Exclusive  |  JULY 31, 2015 10:39 AM

    AG: False charge sheet indicates plot to topple PM

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    Attorney-General Mohamed Apandi Ali has dismissed the purported draft of a charge sheet against Prime Minister Najib Abdul Razak published on whistleblower website Sarawak Report as false. He also said the charge papers point in the direction of a plot …

  • Finance & Markets  |  JULY 31, 2015 10:10 AM

    Ringgit opens flat against US dollar

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    The ringgit opened flat against the US dollar in early trade today as investors remained on the sidelines on lack of fresh catalysts. At 9.24 am, the ringgit was quoted unchanged at 3.8150/8170 against the greenback from yesterday’s close. A dealer said investors …

  • Markets  |  JULY 31, 2015 10:07 AM

    KL shares open higher in the morning

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    Shares on Bursa Malaysia were traded higher this morning supported by mild buying in selected heavyweights, a dealer said. At 9.18 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.19 points better at 1,704.11 after opening 1.39 points higher at 1,701.31. …

  • Commodities & Featured and Exclusive  |  JULY 31, 2015 10:00 AM

    US Senate energy panel votes to lift oil export ban

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    The US Senate Energy Committee on Thursday narrowly passed a bill to lift a 40-year-old ban on the export of crude oil, but the measure faces an uphill battle in getting passed by the full Senate. The bill to allow …

  • World Biz  |  JULY 31, 2015 9:10 AM

    IMF loans only after Greece reaches deal with EU

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    The International Monetary Fund (IMF) can only approve new loans for Greece after Athens reaches an agreement with European governments that would ensure it can pay its debts, an IMF official said on Thursday. “The IMF can only support a …

  • OTHERS  |  JULY 31, 2015 8:52 AM

    Apple to unveil next Apple TV version in September

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    Apple Inc will launch the next generation of its Apple TV set-top box in September, with a new remote and support for Siri voice control, online publisher BuzzFeed reported on Thursday. The new Apple TV will have a slimmer chassis, …

  • Corporate & Singapore  |  JULY 31, 2015 8:45 AM

    S’pore’s OCBC posts record 2Q profit

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    Oversea-Chinese Banking Corp (OCBC), Singapore’s second-biggest lender, beat expectations with a 14% rise to record profit in the second quarter, helped by strong growth in loans and fee income. But smaller rival United Overseas Bank (UOB) posted a 5.7% decline …

  • OTHERS  |  JULY 31, 2015 8:31 AM

    UK-M’sia renew commitment to enhance cooperation

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    Malaysia and the United Kingdom will renew commitment to enhance cooperation in key areas of trade, investment, education and defence. In conjunction with British Prime Minister David Cameron’s one-day visit to Malaysia, Prime Minister Najib Abdul Razak held a four-eyed meeting and delegation meeting …

  • Commodities  |  JULY 31, 2015 8:16 AM

    Gold falls 1% as dollar rises on Fed rate hike expectations

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    Gold fell 1 percent on Thursday to a near a 5-1/2-year low as the dollar rose after data showed the U.S. economy improved in the second quarter, supporting views that the Federal Reserve would lift rates by year-end. The US …

  • Finance & Markets  |  JULY 31, 2015 8:07 AM

    Dollar climbs as US growth supports rate-hike view

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    The dollar rose to a one-week high against a basket of currencies on Thursday as news of faster US economic growth in the second quarter supported expectations that the US Federal Reserve will raise interest rates as early as September. …

  • TigerTalk  |  JULY 31, 2015 8:00 AM

    Putrajaya, keep your promises on mobile spam

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    Tiger recently had no choice but to switch mobile service providers because she was getting too many spam messages on her mobile phone. The problem has been resolved for now, but it has left Tiger wondering what happened to the no-call registry system.

  • Commodities  |  JULY 31, 2015 7:59 AM

    Oil dips as robust dollar offsets stock drawdown

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    Crude futures settled down on Thursday, pressured by a rally in the dollar which countered bullish sentiment from a drawdown in US stockpiles that was much steeper than expected. Position squaring ahead of the expiry of the front-month contracts in …

  • Markets  |  JULY 31, 2015 7:51 AM

    Wall Street ends flat on Wednesday

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    Wall Street ended flat on Thursday as investors digested ho-hum corporate earnings and new data showed that the economy grew more quickly in the second quarter. Procter & Gamble, Facebook and Whole Foods Market all fell after quarterly reports that …

  • StockStalk  |  JULY 31, 2015 7:30 AM

    Bintulu Port Holdings: Sailing in choppy waters

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    [email protected]

    Analysts say Bintulu Port Holdings Bhd, a Petronas associate company and Sarawak state-linked port services operator, is expected to clock in decent earnings for FY15 and FY16 with the full completion of Samalaju Port and the gradual reduction in capital expenditure. But is “decent” enough for the discerning investor?

  • Economy  |  JULY 30, 2015 10:55 PM

    Cameron invites investors to invest in Northern England

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    British Prime Minister David Cameron invites Malaysian investors to explore the enormous investment opportunities elsewhere in Britain, particularly the northern side. He said northern England, with a population of 70 million and has over 600,000 businesses, is a driving force of the UK …

  • Economy  |  JULY 30, 2015 10:49 PM

    Tiny Monaco plans expansion with RM4.2 bil platform

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    The tiny principality of Monaco plans to expand its territory further into the sea by building a 6ha (15-acre) neighbourhood over a 1-billion-euro (RM4.2 billion) platform to be built by France’s Bouygues over the next 10 years. Monaco, the principality best known …

  • Corporate  |  JULY 30, 2015 10:39 PM

    ‘M’sia ideal location for setting up regional offices’

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    Malaysia remains an ideal location for foreign investors to set up regional office, thanks to its strong and diversified base across multiple industries, says Malaysian Investment Development Authority (Mida) chairman Amirsham Abdul Aziz. As at first quarter of this year, Mida has approved …

  • Corporate  |  JULY 30, 2015 10:30 PM

    KTMB may partner airlines to boost ETS connectivity

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    Keretapi Tanah Melayu Bhd (KTMB) is looking at collaborating with regional and local low-cost airlines flying to the northern region towards improving its KL-Padang Besar Electric Train Service (ETS) connectivity. President Lt Kol (Rtd) Sarbini Tijan said KTMB would offer door-to-door service to airline …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 10:19 PM

    MTES approves applications related to Langat 2

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    The Selangor Economic Action Council (MTES) has approved several applications made by agencies and local authorities to ensure the smooth implementation of Langat 2 water project. Menteri Besar Mohamed Azmin Ali said the approval involved planning permission and construction work …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 10:09 PM

    New AG in the dark about ‘charge sheet’ against PM

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    The Attorney-General’s Chambers has denied drafting nor issuing a purported charge sheet against Prime Minister Najib Abdul Razak. “The draft of the charge sheet published by Sarawak Report was not made or issued by the AG’s Chambers,” tweeted head of …

  • Corporate & World Biz  |  JULY 30, 2015 8:50 PM

    Maybank’s BII posts 13.9% rise in 1H Patami

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    PT Bank Internasional Indonesia Tbk (BII) announces its profit after tax and minority interest (Patami) increased 13.9% to 388 billion rupiah (RM108.63 million) for the first half year ended June 30, 2015 from 341 billion rupiah in the same period in 2014 despite the macroeconomic …

  • Corporate  |  JULY 30, 2015 8:15 PM

    MCMC to introduce star-rating system for telcos

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    The Malaysian Communications and Multimedia Commission (MCMC) will introduce star-rating system for telcos to ensure that the telcos would provide better service to their customers. Deputy Communications and Multimedia Minister Jailani Johari said it is similar to the star-rating system for hotels, as …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 8:04 PM

    With or without Gani, MACC vows to complete probe

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    The Malaysian Anti-Corruption Commission (MACC) vows to complete its investigation even in the absence of Abdul Gani Patail as attorney-general. “In the case of (former 1MDB subsidiary) SRC International Sdn Bhd, with or without the special task force (probing 1Malaysia Development …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 7:54 PM

    Ciggie minimum price at RM9 from Aug 1

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    Beginning this Saturday (Aug 1), the minimum price of cigarettes will be increased from RM7 to RM9 a packet, Health Minister Dr S Subramaniam announces. He said the decision was made at a meeting of the Steering Committee for the Framework Convention …

  • Corporate  |  JULY 30, 2015 7:46 PM

    Khazanah to set up London office

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    Malaysia’s state investor Khazanah Nasional Bhd says its wholly-owned unit Khazanah Europe Investments will set up an office in London this year. The opening of the office, to be operational by the third quarter of 2015, will help deepen Khazanah’s exposure …

  • Singapore  |  JULY 30, 2015 7:42 PM

    Neptune Orient logs first profit after six quarters

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    Singapore’s Neptune Orient Lines Ltd (NOL) swung to a tiny net profit in its second quarter after six straight quarters of losses but said it had seen severe freight rate erosion. “The group’s container shipping business continued to face a …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 7:38 PM

    MACC: Our officers not part of topple govt plot

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    The Malaysian Anti-Corruption Commission (MACC) denies its senior officers are involved in a plot to topple the government. Responding to statements published in blogs, MACC described the allegation as false and baseless. “The action taken by MACC senior officers is clearly …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 7:04 PM

    Najib says plane debris sent to France

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    Malaysia’s Prime Minister Najib Abdul Razak says Thursday that plane debris washed up on Reunion island in the Indian Ocean is “very likely” from a Boeing 777, and will be shipped to French authorities in Toulouse to verify if it came …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 6:55 PM

    TNB 3Q revenue, profits fall

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    [email protected]

    Tenaga Nasional Bhd (TNB) saw its revenue and profit before tax for the third quarter ended May 31, 2015 fall by 13.86% to RM11.5 billion and 60.7% to RM734.9 million respectively, compared to the previous corresponding quarter. In a filing …

  • World Biz  |  JULY 30, 2015 6:48 PM

    Tourism boom drives Japan to convert offices into hotels

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    Record tourists to Japan are stretching the ability of hotels to accommodate them in a sector constrained by high costs, forcing developers to think out of the box for means to quickly increase lodging options without breaking the bank. Japan …

  • Economy  |  JULY 30, 2015 6:40 PM

    Tsipras suggests referendum to overcome split in Syriza

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    Greek Prime Minister Alexis Tsipras calls for his Syriza party to hold an emergency congress next month to overcome divisions but says a snap party referendum would be acceptable if leftist dissenters wanted a quicker solution. In a speech to Syriza’s …

  • Featured and Exclusive, Finance, Markets  |  JULY 30, 2015 6:20 PM

    Bank Negara grips ringgit tightly as troubles mount

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    Protecting the ringgit from political fallout out may end up costing Malaysia more than any bailout for the debt-ridden 1Malaysia Development Bhd (1MDB) state fund, given the rate at which the central bank has been using its reserves in recent …

  • Corporate  |  JULY 30, 2015 6:06 PM

    MAHB posts RM1.68 mil pre-tax profit in 2Q

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    Malaysia Airports Holdings Bhd (MAHB) has posted a pre-tax profit of RM1.68 million for the second quarter ended June 30, 2015 from a pre-tax loss of RM37.73 million recorded in the same period last year. Revenue was lower at RM939.96 million from RM1.18 …

  • Commodities  |  JULY 30, 2015 6:03 PM

    Rubber market ends mixed

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    The Malaysian rubber market closed mixed for the second consecutive day today in quiet trading on mild interest amid a weaker ringgit against the US dollar, dealers say. The local currency closed at 3.8150 against the greenback from 3.8095 on Wednesday. A dealer …

  • Singapore  |  JULY 30, 2015 5:58 PM

    S’pore unemployment rises as job growth slows

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    Singapore’s employment grew at a moderate pace, while unemployment edged up slightly amid softer economic conditions, according to the Manpower Ministry (MOM). Key preliminary findings from the “Employment Situation, Second Quarter 2015” report released by the Manpower Research and Statistics Department, MOM showed a …

  • Markets  |  JULY 30, 2015 5:47 PM

    KL shares close almost flat

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    Bursa Malaysia ended almost flat today after a flurry of last-minute selling erased some of earlier gains, dealers say. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.93 point to 1,699.92 after fluctuating between 1,695.66 and 1,706.26 throughout the day. …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 5:41 PM

    Lloyd’s to apply for reinsurance licence in M’sia

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    Specialist insurance market Lloyd’s of London says it plans to apply for an onshore reinsurance licence in Malaysia, as part of its push into emerging markets. Lloyd’s has a strategy to expand into developing markets, where insurance typically has low penetration …

  • Markets  |  JULY 30, 2015 5:32 PM

    Ringgit ends weaker against US dollar

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    The ringgit has erased yesterday’s gains to end lower against the US dollar, in line with most emerging Asian currencies. At 5pm, the ringgit was quoted at 3.8150/8170 against the US dollar from 3.8095/8125 recorded on Wednesday. A dealer said investors’ interest …

  • Featured and Exclusive & Finance  |  JULY 30, 2015 5:24 PM

    Amount of ETF shares being traded surpasses US GDP

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    Everyone is talking about how exchange-traded funds (ETFs) have now overtaken hedge funds in terms of total assets. That’s small change compared with how much ETFs trade nowadays. In the past 12 months investors traded US$18.2 trillion (RM69.2 trillion) worth of ETF shares, according to …

  • Corporate  |  JULY 30, 2015 5:12 PM

    M’sians believe telcos most vulnerable to data breaches

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    Latest research reveals that Malaysians believe telcos are most vulnerable to the breach of the consumer’s personal data over the next 12 months as compared to many other organisations. The research was carried out by Unisys Corporation via Unisys Security Insights. In Malaysia, it was conducted …

  • Corporate  |  JULY 30, 2015 5:06 PM

    Sunway Hotels & Resorts teams up with AirAsia BIG

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    Sunway Hotels & Resorts teams up with AirAsia BIG to enable members of AirAsia BIG loyalty programme to earn BIG points when they book rooms with Sunway Hotels & Resorts in Malaysia, Cambodia, and Vietnam. In a statement today, Sunway Hotels said the …

  • World Biz  |  JULY 30, 2015 4:50 PM

    Zuckerberg asks Wall Street for patience

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    Patience is a rare investor virtue. Mark Zuckerberg thinks he has the track record to ask for it. Facebook Inc had just reported second-quarter revenue on Wednesday that beat analysts’ estimates, and on a conference call some of the same …