NEW YORK: Rupert Murdoch split his corporate empire into two parts under a long-promised plan to "unlock value" by separating high-flying entertainment operations from struggling publishing activities.
SHANGHAI: China's bank regulator said that a recent liquidity squeeze would not hurt the stability of the banking system, in the latest government effort to soothe concerns over the funding shortage.
NEW YORK: Panic selling on fears of an early exit of the U.S. Federal Reserve's stimulus efforts may be over, but the stock market may still face wild intraday swings as investors scramble to position themselves for Friday's payrolls report.
LONDON: The European Central Bank is looking carefully at forward guidance but it is too early to say whether it will be used more extensively, executive member of the ECB's executive board Benoît Cœuré told The Times.
NEW YORK: World equity markets rose for a fourth day on Friday, but a gauge of world stocks and other assets still ended in the red for the month of June and for the second quarter as fears that U.S. monetary stimulus could soon be pared back drove volatility and weighed on sentiment.
NEW YORK: The S&P 500 ended Friday's session with its strongest first half of any year since 1998 after reaching record highs in May on a rally underpinned by the Federal Reserve's massive monetary stimulus.
PETALING JAYA: Hock Seng Lee Bhd (HSL) announced yesterday that it had secured a contract from Eastbourne Corp Bhd worth RM228mil.
KUALA LUMPUR: MPHB Capital Bhd (MPHB Cap), a spin-off of Multi-Purpose Holdings Bhd (MPHB), is targeting to be a top-10 general insurance player in Malaysia by end-2015.
PETALING JAYA: MMC Corp Bhd’s indirect subsidiary, Australia-based Malakoff Holdings Pty Ltd, has acquired the entire share capital of Meridian Wind Macarthur Holdings Pty Ltd (Meridian Holdings) from Meridian Energy Ltd for RM382.2mil.
PETALING JAYA: The Audit Bureau of Circulations (ABC) Malaysia is aiming to kick off its ABCi unit, which will be responsible for auditing the online media, by the middle of next year.
The Hong Leong Capital buyout saga has thrust certain individuals into the limelight. While those from the Hong Leong Group are well-known in corporate circles, the one low-profile individual Datuk Dr Yu Kuan Chon has this saga to thank for him becoming a big corporate name today. Here are the profiles of the key players:
AS corporate takeover sagas go, Hong Leong Capital Bhd (HLCap) will go down as one of the more colourful ones in Malaysia’s corporate history. The usually savvy tycoon Tan Sri Quek Leng Chan ought to have wrapped up the privatisation of the investment banking and asset management unit of his group by now.
The key persons behind boutique advisory firms.
IN the local high finance corporate scene, a few boutique advisory firms have been quietly etching a name for themselves, putting together mergers and acquisitions (M&As) and other company restructuring deals.
Instead of letting it drag out in the courts, Gapurna or the Employees Provident Fund (EPF) may acquiesce to a higher offer for the Selangor State Development Corp’s (PKNS) 30% stake in PJ Sentral, sources say.
THE potential move to impose curbs on the Developer Interest-Bearing Scheme (DIBS) by Bank Negara may be negative for some developers in the short term and has little effect on banks.
MAHB is pointing the gun at UEMC-Bina Puri for the delayed completion of KLIA2, which was due to the delayed works of the main terminal that currently stands at about 93%.
MALAYSIA Airports Holdings Bhd (MAHB) is adamant on its decision to slap the main contractor of KLIA2 – UEM-Bina Puri JV – with the liquidated and ascertained damages (LAD) fine.
When the wealthy dodge taxes, it’s time to name and shame.
TWO weeks ago, I was on a flight back from Singapore. One of the newspapers had a poignant picture of a young boy in tears. I could practically feel him staring at me.
SINCE 2008, policy debate continues to be centred on the correct mix between austerity and growth, and the need for fiscal sustainability or what economists call budgetary consolidation – i.e. measures to ensure that government budgets are balanced over time so that the servicing of rising debts is sustainable, without passing on too great a burden to future generations.
HAVE you ever wondered why you can’t seem to make good decisions when it comes to your money?
DARKNESS had set as Oh Kah Beng tailed the lead rider in a motorcycle convoy on the way back from Ipoh to Kuala Lumpur.
Vis-à-vis purchase from housing developers.
MICHAEL Constantine experienced a range of emotions when he was offered to take over the reins of McCann Worldgroup Malaysia, one of the country’s high-profile advertising groups.
PETALING JAYA: BIMB Holdings Bhd has received a further one-month extension till end-July to complete negotiations with Dubai Financial Group LLC (DFG) on the acquisition of the latter’s 30.5% stake in Bank Islam Malaysia Bhd.
YANGON: Malaysian oil palm planters constantly aim to achieve sustainable practices, including maintaining “zero burning policies”, said Plantation Industries and Commodities Minister Datuk Seri Douglas Unggah Embas.
PETALING JAYA: SapuraKencana Petroleum Bhd has recorded a 125% increase in net profit to RM93.67mil for the first quarter ended April 30 compared with RM41.66mil a year ago.
PETALING JAYA: Nasim Sdn Bhd aims to launch two more outlets in the country as part of its nationwide network expansion.
PETALING JAYA: After failing to clinch a telecommunications licence from the Myanmar government, analysts expect Axiata Group Bhd to use its cash reserves in other ways.
PETALING JAYA: Integrated Logistics Bhd announced that its indirect 70%-owned subsidiary, Integrated Logistics (HK) Ltd (IL HK) has agreed to dispose of its entire equity interest in ISH Logistics (Shenzhen II) Ltd (IL Shenzhen) and Integrated Logistics Henan (HK) Ltd (IL Henan) to Winfair International Holdings Ltd for 988 million yuan (RM519.3mil).
WITH the global economy showing a slower recovery and the likelihood of the commodity super cycle coming to an end, the World Bank has urged Malaysia to accelerate structural reforms to ensure the country’s economy remains diversified and dynamic.
The Bioeconomy Transformation Programme is tasked with aligning all the various initiatives and strategies for the nation’s bio-based economy, of which the palm oil industry is a key player
IT may seem rather nondescript but the appointment of joint managing directors and the presence of Kumar Tharmalingam over at the Sunway group may be an indication of the direction the company would like to take. Or at least, the market it would like to have.
A COMFORTABLE environment with plenty of green is the office of the future, says Selangor Dredging Bhd (SDB) managing director Teh Lip Kim.
PETALING JAYA: Gabungan AQRS Bhd is eyeing a 40% contribution from its property development division for its current financial year ending Dec 31.
THE newspaper, which is still the most dominant form of media in terms of Malaysian advertising expenditure (adex), is still the prominent and preferred choice for advertisers, according to industry experts.
TWO major media agencies, OMD and PHD, did not participate in the recent Malaysian Media Awards (MMA).
MCCANN Worldroup Malaysia has started a new subsidiary called Craft to adapt and version campaigns from different markets.
Money: The Unauthorised Biography by Felix Martin.
Compiled by THEAN LEE CHENG.
Instead of taking some comfort from a steadier Wall Street the previous Friday, stocks in the Asia-Pacific region were mostly frail at the start of the week as investors continued to fret about the impact of the Federal Reserve’s plans to withdraw monetary stimulus and an economic slowdown in China.
HAP Seng Consolidated Bhd rebounded from the RM1.87 floor and charged past the RM2 psychological mark to achieve a high of RM2.05 yesterday, the best level since March 2011, in the wake of fresh bargain-hunting interest.
SINGAPORE: Singapore’s central bank has introduced rules to ensure that a property buyer’s monthly payments do not exceed 60% of his income, a move aimed at cooling the housing market and ensuring investors are not caught out by a rise in interest rates.
BRUSSELS: France’s fiscal deficit could slightly go over target due to poor growth and dwindling tax revenues, President Francois Hollande said, while stressing his commitment to containing public spending.
FRANKFURT: The European Central Bank (ECB) denied a German newspaper report that it was considering launching a new bond purchase programme under which it would buy debt of all 17 eurozone countries.
HONG KONG: British publisher Pearson has denied a report that media mogul Rupert Murdoch and Abu Dhabi’s state media group are in talks to acquire the Financial Times Group for about US$1.2bil.
FRANKFURT: Banks will return 2.06 billion euros (US$2.68bil) of crisis loans early to the European Central Bank (ECB) next week, after the central bank assured markets this week an exit from its accommodative policy stance is distant.
NEW YORK: Mergers and acquisitions (M&A) around the world slowed to their most sluggish pace since 2009 in the first half of 2013, Thomson Reuters data show, as recession-hit European companies put the brakes on transactions and their healthier US counterparts took a cautious approach amid market uncertainty.
Which are the brands that Malaysian consumers trust the most? Reader’s Digest named the brands that have earned the highest levels of trust from Malaysians – the winners of the 2013 Reader’s Digest Trusted Brand Awards – at an awards ceremony in Kuala Lumpur.
ESTABLISHED in 1969, Universiti Sains Malaysia (USM) envisions itself as a premier research university.
RELIABILITY is an important factor for those looking for suitable learning institutions.
SUNWAY University is thrilled that it won the Reader’s Digest Trusted Brands Gold Award 2013 in the Malaysian Private University category recently.
THE belief that stationery is not just a writing tool, but an important representation of one’s personality and lifestyle, has paved the way for Stabilo to win the recent Reader’s Digest Trusted Brands Gold Awards in the Pencils Category in Malaysia for 2013.