Berjaya Sports Toto Bhd's earnings fell 5.1% to RM384.97mil in the financial year ended April 30, 2013 from RM405.47mil a year ago due to higher operating expenses.
Investor sentiment perked up in the late afternoon trade on Tuesday, supported by mild fund buying of heavyweights CIMB Group and Maybank, enabling the FBM KLCI to close up 0.11%.
Westports Malaysia Sdn Bhd expects a 25% reduction in fuel costs with a greener and more cost-efficient transmission system for its prime movers.
Hibiscus Petroleum Bhd had received a US$10mil investment from Panama-based oil company Triax Ventures Corp for a 15% stake in its JV company Hirex Petroleum Sdn Bhd.
Aeon Credit Services (M) Bhd is aiming to expand its fee business further to diversify its existing business.
Malaysia Marine and Heavy Engineering Holdings Bhd's (MMHE) earnings to hinge on customers' decisions to defer or continue projects as crude oil prices now off the peak.
Malaysian Biotechnology Corporation (BiotechCorp) raised the profile of the country's drive to commercialise its bio-based industry, as it emerged as a major sponsor of the 10th BIO World Congress on Industrial Biotechnology 2013 in Montreal, Canada.
1Malaysia Development Bhd (1MDB) is looking into the listing of its power assets in Malaysia, which could see it raising about US$1bil (RM3.154bil), wire reports said.
The Securities Commission Malaysia (SC) is organising a private retirement scheme (PRS) exhibition at its headquarters in Bukit Kiara on June 29.
Fund buying of heavyweights Maybank and Tenaga helped lift the FBM KLCI into the positive zone at midday on Tuesday while the broader market firmed up despite some selling seen in Genting Bhd.
Mudajaya Group Bhd is looking into acquiring or developing new power plants in the region as part of its strategy to provide recurring income.
Astro Malaysia has launched 11 new channels - including Bahasa Malaysia, Chinese and Tamil - and also five new packages for this year as it gives the viewers more choices.
Shares of glove makers advanced in early Tuesday trade, bucking the cautious market sentiment, with Hartalega and Kossan among the top gainers.
Shares of Fitters Diversified rose to a high of 81 sen in early Tuesday following its venture into the renewable energy sector.
AmResearch is maintaining its “Buy” call on Sarawak Cable Bhd with a fair value of RM2.50 in line with the construction of its 10MW mini-hydro plant in North Sumatra in two months.
ONBOARD MADRID-ALICANTE HIGH-SPEED TRAIN: A one-track dirt road used by local farmers is the main access to a magnificent glass-and-steel train station in the small city of Villena, on Spain's latest high-speed rail route.
Affin Research is maintaining is “Buy” call on DiGi.com Bhd with a lower target price of RM5.39 from RM5.76 after raising its capital expenditure assumptions to incorporate higher spending for its Long Term Evolution network within the next two years.
Shares of Aeon Credit rose 7.7% to a high of RM17.88 early Tuesday after it reported a strong set of financial results but RHB Research maintained its Neutral outlook.
NEW YORK: Google Inc has settled a shareholder class action lawsuit that clears the way for the company to issue a new class of nonvoting stock, giving the company a currency for acquisitions that would not dilute the founders' control.
Malaysia's blue chips opened lower on Tuesday as investors mulled the fresh corporate developments while they also awaited the outcome of the US Federal Open Market Committee (FOMC).
Public Invest Research has upgraded Petra Energy from Neutral to Outperform with an unchanged target price of RM2.51.
MUMBAI: India's PEC Ltd issued a tender to import 12,000 tonnes of refined, bleached and deodorised (RBD) palmolein for shipment between June 25 and July 31
KUALA LUMPUR: Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the Malaysian market.
JF Apex Research expects Bina Buri, construction stocks and healthcare companies to attract trading interest on Tuesday following fresh corporate developments.
NEW YORK: Stocks rose 1 percent on Monday as investors speculated the Federal Reserve will reaffirm its commitment to supporting the economic recovery when it meets this week.
PETALING JAYA: The government investment company Khazanah Nasional Bhd – which has portfolios worth RM86.9bil – will be included in the Auditor-General’s Report this year.
JOHOR BARU: Plans are in the pipeline to construct a new coastal highway along the east coast from Kota Baru, Kelantan to Pengerang, Johor.
KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) will start imposing liquidated and ascertained damages (LAD) of RM199,445.40 per day on UEMC-Bina Puri JV, the contractor of the main terminal building of KLIA2.
KUALA LUMPUR: The Employees Provident Fund (EPF) is considering expanding its investment portfolio and increasing its investment assets in new sectors this year.
KUALA LUMPUR: Tune Hotels Regional Services Sdn Bhd, the hospitality arm of the Tune Group which is expanding globally, is eyeing a listing on Bursa Malaysia in 2015.
KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV), the world’s third-largest manager of oil palm plantations, plans to tap its RM6.2bil cash pile to expand abroad as Malaysia runs short of available land.
PETALING JAYA: Shares of Malaysian Resources Corp Bhd (MRCB) fell as much as eight sen to a low of RM1.51 after a news report emerged over the weekend suggesting its RM729mil merger with private developer Nusa Gapurna Development Sdn Bhd had hit a roadblock.
PETALING JAYA: Malaysian AirAsia BIG loyalty cardholders who have travelled on AirAsia X Bhd (AAX) over the past two years can subscribe for the long-haul, low-cost carrier’s initial public offering (IPO) shares using the blue form.
PETALING JAYA: Hartalega Holdings Bhd and Kossan Rubber Industries Bhd are Alliance Research’s top picks for the glove sector, with the research house reiterating an “overweight” recommendation on the sector.
KUALA LUMPUR: Yinson Holdings Bhd has appointed Malayan Banking Bhd (Maybank), United Overseas Bank Ltd, Singapore (UOB) and AmInvestment Bank to fund its proposed acquisition of the Norwegian listed company, Fred Olsen Production ASA.
IN an interview with a business weekly, Alliance Bank CEO Sng Seow Wah said that margin compression and rising costs were the key challenges that it faces in striving to raise return on equity (RoE) from 13.8% in financial year ended March 31, 2013 to 16% in financial year 2015. But it is sticking with the financial year 2015 target.
PETALING JAYA: The Selangor State Development Corp (PKNS) has been actively pursuing joint ventures with established players in the industry in many urban redevelopment projects.
KUALA LUMPUR: The second and third lines of the Mass Rapid Transit (MRT) system is expected to serve Putrajaya, MRT Corporation Sdn Bhd chief executive officer Datuk Azhar Abdul Hamid said.
PETALING JAYA: Malaysia Airlines (MAS) has appointed Mohd Shahazwan Mohd Harris its non-independent and non-executive director.
KUALA LUMPUR: Land Rover (Malaysia) Sdn Bhd, a member of the Sime Darby Group, is positive on the possibility of reviving local assembly operations for several models here, including some top-range models to cater to the Asean market.
KUALA LUMPUR: Property developer Hua Yang Bhd, via unit Prop Park Sdn Bhd, has acquired about 1.51ha of prime land in Seri Kembangan for a total cash consideration of RM56.91mil.
KUALA LUMPUR: It is still early days for Kedah for investments from two prominent Japanese firms to roll into the manufacturing and automotive sector, said Kedah Mentri Besar Datuk Mukhriz Mahathir
KUCHING: Sarawak Cable Bhd (SCB) will commence construction of a mini-hydro power plant in north Sumatra in two months.
SHAH ALAM: Konsortium Logistik Bhd (KLB), an integrated logistics service provider, is eyeing up to 10% revenue contribution from its energy and infrastructure division over the next two years, says chairman Datuk Abdul Rahman Ahmad.
KUALA LUMPUR: Southern Acids (M) Bhd’s (SAB) unit, PT Wanasari Nusantara, will construct a palm oil mill on a piece of land at its oil palm estate in the province of Riau, Sumatra, for RM35mil.
KUALA LUMPUR: Malaysia left the tax on crude palm oil exports unchanged for a fifth month in July as the world’s second-largest producer seeks to boost shipments and further trim inventories to help stem a drop in prices. Futures gained.
KUALA LUMPUR: The growth in the use of electronic payment products, such as credit and debit cards, has added RM13.17bil to the gross domestic product (GDP) of Malaysia, according to a study conducted for Visa by Moody’s Analytics.
DHAKA: Bangladesh has approved a trade agreement with the United States as it comes under intense pressure from Washington to improve labour rights following a series of factory disasters.
NEW DELHI: India’s trade deficit widened to a seven-month high in May as gold imports surged, provisional data showed, but economists expect newly announced measures to dampen demand for the precious metal in coming months and narrow the shortfall.
HONG KONG: The daily average trading volume of yuan in Hong Kong jumped to a record in May, exceeding the volumes of Hong Kong dollars for the first time ever, indicating the yuan’s growing importance in international trade.
SUWON: Samsung Electronics Co plans to sell a variation of its flagship Galaxy S4 smartphone that will transmit data at nearly twice the normal speed, according to the head of its mobile business.
HONG KONG: Cheung Kong (Holdings) Ltd, controlled by Asia’s richest man Li Ka-shing, said it will buy Dutch waste processing firm RAV Water Treatment I B.V. for 943.68 million euros (US$1.26bil), in an overseas expansion drive that has targeted infrastructure assets offering steady recurring income.
BUDAPEST: Hungary lifted its financial transaction tax and raised existing charges on telephone calls and mining royalties, seeking to plug a hole in the budget and keep the deficit below the European Union’s ceiling. The tax hikes are worth around 100 billion forints (US$459.68mil), according to analysts’ estimates.
BRUSSELS: The head of the EU executive Jose Manuel Barroso has slammed France’s determination to protect Europe’s film and cultural industries in upcoming negotiations with the United States to agree a giant free trade pact.
LONDON: The Co-operative Bank in Britain says its planning to increase its capital cushion by £1.5bil (US$2.4bil) to secure its future but without resorting to state aid.