Business

     




More News: | Jun 29 | Jun 28 | Jun 27 | Jun 26 | Jun 25 | Jun 24 | Jun 22 |   
Tuesday, March 13, 2012 | Stocks | Earnings | Economy | Auto | Property | Retailing | Commodities | Foreign News |

MAHB upgrading Penang airport's drainage system

KUALA LUMPUR: Malaysia Airports says major upgrading works are being carried out at the Penang International Airport.

IATA urges Malaysian govt to consider reducing airlines' cost burdenLatest News

KUALA LUMPUR: The International Air Transport Association (IATA) has urged the Malaysian government to consider reducing the cost burden on airlines operating in the country, specifically, by withdrawing the landing and parking charge increases planned for 2013 and 2014.

Prasarana starts work on Ampang LRT line extensionLatest News

KUALA LUMPUR: Syarikat Prasarana Negara Bhd (Prasarana) has started on the LRT Line Extension Project (LEP), having laid the Segmental Box Girders (SBGs) for the Ampang Line last weekend.

CPO prices expected to hover between RM3,000 and RM3,500 this month

KUALA LUMPUR: Crude palm oil (CPO) prices are expected to hover between RM3,000 and RM3,500 per tonne this month following the lower CPO production in February, according to research firms.

Malaysia shifts incoming investment focusLatest News

KUALA LUMPUR: Malaysia has shifted its investment focus to more high technology and capital intensive industry-related deals, said Deputy Minister of International Trade and Industry, Datuk Mukhriz Tun Dr Mahathir.

Maxis introduces 20 exclusive applications

KUALA LUMPUR: Maxis Bhd (Maxis), Malaysia's leading integrated communications service provider, today introduced 20 new exclusive applications for smart devices such as iPhones, tablets and Androids.

Finance & small cap stocks weigh in on share prices at midday, CI upLatest News

KUALA LUMPUR: Finance-related and small cap stocks weighed in on share prices on Bursa Malaysia at midday today with the FTSE Bursa Malaysia KLCI (FBM KLCI) continuing to stay in the black, dealers said.

Malaysia-India trade can reach US$15bil this year, says MukhrizLatest News

KUALA LUMPUR: Bilateral trade between Kuala Lumpur and New Delhi has the potential to touch US$15 billion (US$1 = RM3.02) this year, said Deputy Minister of International Trade and Industry, Datuk Mukhriz Tun Dr Mahathir said.

Malaysia-India trade can reach US$15bil this year, says Mukhriz

KUALA LUMPUR: Bilateral trade between Kuala Lumpur and New Delhi has the potential to touch US$15 billion (US$1 = RM3.02) this year, said Deputy Minister of International Trade and Industry, Datuk Mukhriz Tun Dr Mahathir said.

Transport Ministry unaware of reported cancellation of MAS-Air Asia share swapLatest News

KUALA LUMPUR: Transport Minister Datuk Seri Kong Cho Ha, is unaware of any cancellation of the deal, involving the share swap between Malaysia Airlines (MAS) and Air Asia.

KLCI closed lower, Asia positiveLatest News

KUALA LUMPUR: The FBM KLCI closed in the red while other key Asian bourses traded in the green, reflecting the caution among local investors following developments in the global economic arena.

EPF goes on selling spree

PETALING JAYA: The Employees Provident Fund (EPF) sold a whopping RM441.09mil worth of Malaysia-listed equities on March 7 alone, in line with its trend of active disposals over the last two weeks. Bursa Malaysia filings showed that on March 7, the EPF along with its portfolio managers dumped a total 83.68 million shares on the open market, substantially more than the 7.4 million shares it had acquired the same day.

Government should hive off MAS

AS if the Government didn’t already have enough on its plate. Now it’s being drawn into the messy issue involving Malaysia Airlines (MAS) and the share swap agreement with AirAsia. The rumour mill has gone on overdrive on MAS, speculating that the Government is going to step in to unwind that controversial deal inked between Khazanah Nasional Bhd and Tune Air Sdn Bhd.

AirAsia X realigns routes, focuses on core markets

PETALING JAYA: AirAsia X, the long-haul, low fare affiliate of AirAsia Bhd has realigned its routes by focusing on its core markets. As part of the plans will be the suspension of its KL-Christchurch-KL route, with the last flight on May 30.

Yes, Khazanah sells bank stake for RM319mil

KUALA LUMPUR: The Government’s sovereign investment fund, Khazanah Nasional, has sold its entire 4.2% holdings in private lender Yes Bank for US$105mil (RM319mil), raking in a premium of 150% over the past five years.

Wider credit yield spread?

PETALING JAYA: Credit yield spreads in the local bond market could widen in the latter part of the year if the eurozone sovereign debt crisis is unresolved and the US economy remains weak, resulting in the outflow of funds from the domestic market.

Gold jewellery exports expected to rise 7%

GEORGE TOWN: The total value of exported gold jewellery products from Malaysia is seen increasing slightly by about 6.8% to RM4.5bil this year from the RM4.2bil in 2011, due to expected price stability this year.

Focus on branding to make global impact, firms advised

PETALING JAYA: Malaysian companies should continue to focus on their branding strategies if they want to make an impact globally.

Mohzani appointed Celcom director

PETALING JAYA: Celcom Axiata Bhd has appointed Datuk Mohzani Abdul Wahab as its independent non-executive director.

Stocks

Sime leads decliners

PETALING JAYA: Diversified conglomerate Sime Darby Bhd stood out as one of the large-cap stocks that led the decline in the local stock market yesterday.

Suspended MD, wife sell Silver Bird shares

PETALING JAYA: Suspended Silver Bird Group Bhd managing director Datuk Jackson Tan Han Kook and his wife Datin Ong Hooi Siang had their shareholdings in the company reduced further after they disposed of some shares on the open market.

Sumatec to finalise regularisation plan plan soon

PETALING JAYA: Sumatec Resources Bhd said it expected to finalise the details of its proposed regularisation plan under Practice Note 17 by the second quarter of this year and complete it by the fourth quarter.

PFCE's reverse takeover deal will see RM300mil injection

PETALING JAYA: Loss-making pottery and ceramics manufacturer and trader PFCE Bhd plans to acquire 100% equity interest in PFC Engineering Sdn Bhd in what is to be a reverse takeover exercise by the latter’s group chief executive chairman Datuk Abu Talib Mohamed and his son, Muammar Gadaffi.

FGVH not divesting interest in Aussie firm at the moment

WITH reference to the StarBiz report headlined “FGVH selling Aussie firm stake”, which appeared on March 12, we would like to point out that as a business concern, Felda Global Ventures Holdings (FGVH) will from time to time evaluate any business opportunities that may arise in due course of its operations, including mergers, acquisitions, joint-venture agreements and strategic partnerships.

Two million Dayang shares disposed of

PETALING JAYA: Dayang Enterprise Holdings Bhd’s Tengku Datuk Yusof Tengku Ahmad Shahruddin has recently disposed of two million shares, or a 0.36% stake, in the company.

Hong Leong Capital gets nod for MIMB buy

PETALING JAYA: Hong Leong Capital Bhd has received the approval from the Finance Ministry for its proposed acquisition of the entire equity interest in MIMB Investment Bank Bhd.

Support Line

K.M. Lee writes on Berjaya Food. lion Corp and Ta Ann Holdings.

Earnings

Golden Palm Growers sees repeat of 2011 8% rate of return for investors

KUALA LUMPUR: Golden Palm Growers Bhd expects to match its 8% payment return paid in 2011 for its Golden Palm Growers Scheme this year after receiving overwhelming response from investors for that scheme.

Economy

January factory output expands at slower pace

PETALING JAYA: January’s industrial production index (IPI), which measures the overall manufacturing activity and factory output, grew at a slower pace as a decrease in global semi-conductor demand and fewer working days impacted production.

Japan machinery orders rise

TOKYO: Japan’s core machinery orders rose at a faster pace than expected in January in a sign that rebuilding the country’s tsunami-battered northeast coast could propel capital expenditure and support the fragile economy.

China central bank sees room for policy manoeuvring

BEIJING: China has ample room to tweak policy to support credit growth in the face of volatile foreign capital flows that will inevitably see market forces play a greater role in determining the value of the yuan currency, the central bank said.

India’s January output grows fastest in 7 months

NEW DELHI: Indian industrial output in January grew at its fastest pace in seven months, powered by a surge in manufacturing including consumer non-durables, a sign of strength in a sluggish economy that reinforces expectations the central bank would wait until April before cutting interest rates.       

Auto

Auto sector slows down

PETALING JAYA: The near-term outlook for the Malaysian automotive sector is not exciting, according to research analysts.

DRB-Hicom to make more profits from CKD VW cars

PETALING JAYA: DRB-Hicom Bhd can expect to record higher margins and revenue from the local assembly of Volkswagen cars, according to motor analysts.

Property

Kimlun unit wins RM152mil contracts

PETALING JAYA: Kimlun Corp Bhd subsidiary Kimlun Sdn Bhd has received two contracts worth a total of RM151.6 mil for housing projects in Johor Baru.

Retailing

M’sian shoppers are willing to pay more for environment-friendly, fair trade items

PETALING JAYA: Malaysian shoppers rank high in terms of shopping with a conscience, ahead of developed countries like Australia, New Zealand and Japan.

Commodities

M'sia sees little impact from launch of world’s first black pepper futures contracts in S'pore

KUCHING: The Malaysian pepper market sees little impact from the launch of the world’s first black pepper futures contracts by Singapore Mercantile Exchange (SMX).

Foreign News

Euro carriers rally against carbon tax

PARIS: Airbus and six European airlines have written to four European Union leaders attacking the carbon tax imposed by the EU, a source close to the dossier said.

China will maintain its property curbs this year says paperLatest News

SHANGHAI, March 13 (Reuters) China will maintain its real estate curbs this year, but will make sure purchases of first homes are unaffected, the official China Securities Journal reported on Tuesday, citing a notice by the central government.

Japan to purchase 65bil yuan in China govt debt Latest News

TOKYO, March 13 (Reuters) Japan said on Tuesday it had received approval from China's government to purchase 65 billion yuan ($10.3 billion) in Chinese government debt in a move that can help Japan diversify its reserves away from the dollar and strengthen economic ties between the two Asian countries.

BOJ's tool kit to beat deflation, support economyLatest News

TOKYO, March 13 (Reuters) The Bank of Japan is likely to extend a loan scheme for growth industries and stress its readiness to offer further monetary stimulus in coming months if needed, hoping it will be enough for now to defuse political pressure for more action.

NZ housing market picks up in Feb, buyers cautiousLatest News

WELLINGTON, March 13 (Reuters) New Zealand's housing market showed further signs of improvement in February with a lift in sales and prices but consumers remain cautious, government property valuer Quotable Value (QV) said on Tuesday.

Yahoo sues Facebook for infringing 10 patentsLatest News

SAN FRANCISCO, March 12 (Reuters) Yahoo Inc sued Facebook Inc over 10 patents that include methods and systems for advertising on the Web, opening the first major legal battle among big technology companies in social media.

NYMEX Crude holds above US$106; Fed meeting, stocks data eyedLatest News

TOKYO, March 13 (Reuters) U.S. crude futures rose on Tuesday, after dropping by more than a dollar in the previous session, as investors waited for a key Federal Reserve monetary policy statement and weekly inventory data for further trading cues

Majority of Japanese oppose nuclear plant restarts - pollLatest News

TOKYO (Reuters) - A majority of Japanese oppose a restart of nuclear power plants currently shut for maintenance, a poll by the Asahi newspaper showed on Tuesday, reflecting high public distrust towards atomic power after the 2011 tsunami-triggered nuclear crisis.

Twitter acquires PosterousLatest News

SAN FRANCISCO (Reuters) - Twitter Inc said Monday that it has acquired Posterous, a blogging platform known for its slick digital media-sharing interface.

US Fed to release bank stress test results ThursdayLatest News

NEW YORK (Reuters) - The Federal Reserve will release on Thursday the results of its latest round of stress tests on 19 large U.S. banks, the regulator said on Monday.

Intel eyes Internet-based TV service - WSJLatest News

SAN FRANCISCO (Reuters) - Chipmaker Intel Corp is developing an Internet-based TV service for consumers and has been promoting it with media companies, the Wall Street Journal said, citing people familiar with the effort.

Defensives rally on flat day for Wall StreetLatest News

NEW YORK (Reuters) - Defensive names rallied in an otherwise flat day for Wall Street on Monday as investors paused after recent gains and looked ahead to the Federal Reserve's monetary policy statement.

Okada disputes Wynn right to redeem shares-lawsuitLatest News

(Reuters) - The legal fisticuffs between Steve Wynn and Kazuo Okada, Wynn Resorts' largest shareholder, escalated further as Okada counter sued in U.S. federal court, alleging that the casino company's board breached its fiduciary duties and violated racketeering laws by voting to redeem Okada's shares.

Citi CEO Pandit's 2011 pay soars to $14.9 millionLatest News

NEW YORK (Reuters) - Citigroup Chief Executive Vikram Pandit finally got his payday. The third biggest U.S. bank company paid Pandit $14.86 million in 2011, compared with a salary of $1 and no bonus in 2010, according to a filing with the Securities and Exchange Committee.

Legg Mason's Peters bets on Apple, MetLife to spark resurgenceLatest News

BOSTON (Reuters) - Sam Peters, the money manager hired to breathe new life into Bill Miller's famed $2.5 billion Legg Mason Inc fund, thinks the time is right for a stock-picking renaissance.

WTO upholds ruling on Boeing subsidiesLatest News

GENEVA (Reuters) - The World Trade Organization said on Monday it had upheld the bulk of a ruling that Boeing received billions of dollars of subsidies to compete with Europe's Airbus, as both sides once again claimed victory in a long-running trade row.

Asia positive despite global jittersLatest News

KUALA LUMPUR: The FBM KLCI emerged in positive trade alongside other key Asian bourses despite some jitters in the global economic arena.

Asia positive despite global jittersLatest News

KUALA LUMPUR: The FBM KLCI emerged in positive trade alongside other key Asian bourses despite some jitters in the global economic arena.

More News: | Jun 29 | Jun 28 | Jun 27 | Jun 26 | Jun 25 | Jun 24 | Jun 22 |   

advertisement