Bursa Malaysia Bhd has uplifted the price "freezing" on Pharmaniaga Bhd's share price with effect from Wednesday, two days after the imposition of the curbs.
AEON Credit Service (M) Bhd is aiming for double-digit growth in credit card issuance for the financial year ending Feb 20, 2013.
Blue chips rallied on Tuesday, with the FBM KLCI eyeing the psychological important 1,600 level, on local institutional buying of index-linked stocks as sentiment perked up for the listing of the Felda Global Ventures Holdings (FGVH) on June 28.
RAM Rating Services has reaffirmed Padiberas Nasional Bhd's respective long- and short-term ratings of its RM750mil Islamic commercial papers/medium-term notes programme (2010/2017) (ICP/MTN) at AA3 and P1, respectively; the long-term rating has a stable outlook.
Ivory Properties Group Bhd expects to see a huge jump in its revenue next year amid several projects to be launched in the second half of this year and early 2013.
SME Bank Bhd expects its non-performing loans (NPLs) to decrease to 15% by year-end, from 17% last year, given the bank’s good collection rate.
SEOUL: The Singapore dollar led a rebound among some emerging Asian currencies on Tuesday with the euro recovering some losses but worries about rising Spain's borrowing costs cast doubt over sustainability of regional units' strength.
LONDON: European equities edged higher on Tuesday, with investors eyeing a Spanish debt auction and German data for fresh clues on the depth of the euro zone crisis, and a U.S. Federal Reserve meeting for possible market-friendly stimulus action.
Kumpulan Perangsang Selangor Bhd (KPS) is venturing into the mobile virtual network operations (MVNO) by investing RM23.24mil for a 30% stake in Ceres Telecom Sdn Bhd.
MUMBAI: Indian state trading company PEC Ltd has issued a tender to import 18,000 tonnes of refined, bleached and deodorised palmolein of Indonesia or Malaysia origin for shipments by July 15.
Ahmad Zaki Resources Bhd (AZRB) is eyeing at private projects including redeveloping older buildings along Jalan Sultan Ismail in Kuala Lumpur.
SINGAPORE/HONG KONG: AIA Group , Manulife and Prudential PLC are among companies that have made initial bids for the life insurance joint venture of Malaysia's CIMB Group and Aviva in a deal estimated to be worth at least $400 million, sources said.
SINGAPORE: Malaysian palm oil futures gained on Tuesday on expectations of higher demand as dry U.S. weather could damage the soybean crop further, tightening global edible oil supply.
Malaysia and Singapore markets bucked the regional bourses at midday on Tuesday while the others were cautious after Spain's borrowing costs climbed to a euro-area record.
Genting HK Ltd bought 19.259 million shares of Australia's Echo Entertainment Group Ltd for A$82.55mil (RM264.28mil).
LOS CABOS, Mexico: World leaders pressured Europe on Monday to take ambitious steps to resolve its debt crisis after a victory for pro-bailout parties in a Greek election failed to calm markets or ease worries that wider turmoil could derail the global economy.
RHB Research Institute is maintaining a Neutral recommendation on the property sector as the sector's fundamentals are not supportive enough for a convincing re-rating.
KUALA LUMPUR: CIMB Equities Research is maintaining an Outperform recommendation on Berjaya Sports Toto with a target price of RM5.30.
Affin Investment Research is maintaining its Reduce recommendation on Tenaga Nasional with an unchanged target price of RM6.12, which is a 15% discount to its discounted cashflow of RM7.20 a share, discount rate of 7.5%; growth of 3.0%.
Blue chips extended their gains on Tuesday, with the FBM KLCI up more than five points, with consumer dividend stocks among the major gainers, despite the mixed signals from Europe.
LOS ANGELES: Microsoft Corp unveiled a tablet called Surface on Monday, in a move to rival Apple Inc's massively successful iPad.
SINGAPORE: Asian shares edged down on Tuesday as rising Spanish bond yields stoked fears its tottering banking system is dragging Madrid deeper into crisis, snuffing out a relief rally that followed a win for mainstream parties in Greece's weekend election.
PETALING JAYA: The Tune Group, which owns a cluster of businesses including AirAsia Bhd, may list some of its units by end-2013, according to co-owner Tan Sri Tony Fernandes.
SEPANG: Growing profits by four to five-fold is the aim of Tan Sri Tony Fernandes as he moves to Jakarta to drive AirAsia’s regional expansion after handing over the reins of the airline’s Malaysian operations to 38-year-old Aireen Omar .
ASHINI was frustrated with her job. Low pay, long hours and a horrible boss that was pushing her to the brink of collapse. She started wondering if she should quit.
LATE last month, Malaysia’s first shipment of oil palm biomass made its way to Italy. The objective is for preliminary analyses, testing and technology adaptation at a pilot plant there to verify whether the 12-tonne biomass comprising palm tree trunks, empty fruit bunches and fronds could be converted to non-edible industrial sugar for commercial-scale production.
JOHOR BARU: There are still large tracts of land in Johor Baru that have potential be developed into residential properties with decent built-up area and offered at affordable prices to first-time local house buyers, said Johor Real Estate and Housing Developers Association branch chairman Koh Moo Hing.
QINGDAO, SHANDONG: Sime Darby Bhd’s energy and utilities division (E&U) business in China is banking on the Weifang Port to be the key driver of growth going forward for its investments in the country as the port is strategically located in the rapidly developing Bohai Rim area.
KUALA LUMPUR: Kian Joo Can Factory Bhd will invest US$20mil (RM63.17mil) to expand the company’s corrugated carton plant in Hanoi, Vietnam, boosting capacity by 3,000 tonnes per month.
KUALA LUMPUR: Automotive replacement parts maker New Hoong Fatt Holdings Bhd (NHF) plans to capitalise on the growing automotive market, especially in the region.
PETALING JAYA: Industry observers are positive on the local bond market, saying the trimming of foreign investors’ holding of ringgit-denominated debt is a temporary phenomenon amid the worsening eurozone sovereign debt crisis.
PETALING JAYA: Bursa Malaysia has introduced the CDS Straight-Through Processing (CDS-STP) facility for its market participants to better manage transactions performed by Central Depository System (CDS) account holders.
PETALING JAYA: The Syariah Advisory Council (SAC) of the Securities Commission (SC) has proposed a revised screening methodology to determine the syariah-compliant status of listed companies.
PETALING JAYA: Drugmaker Pharmaniaga Bhd, which resumed trading last Friday, was issued with an unusual market activity (UMA) query by the stock exchange regulator after hitting limit-up for the second time.
SHARE prices on Bursa Malaysia closed firmer as investors took cue from the uptrend on regional bourses.
PETALING JAYA: Markets around the world rallied with Asian markets closing higher while European markets opened up after Greek pro-bailout parties won in the elections.
PARIS: Relief that Greeks had given victory to pro-austerity conservatives was short-lived yesterday as traders fretted that Greece’s problems remained huge and that the real issue was Spain.
KUCHING:Sibu-based Pan Sarawak Holdings Sdn Bhd (Pan Sarawak), which controls public-listed Pansar Bhd, is keen to take control of the strategic 26.9% equity interest in Petra Energy Bhd, which has been put up for sale, as it sees a big upside potential in the oil services firm.
PETALING JAYA: Berjaya Sports Toto Bhd’s (BToto) proposal to transfer its 100% equity interest in Sports Toto Malaysia Sdn Bhd to a business trust in Singapore will have no immediate impact on the latter’s current rating of AA-/stable on its RM800mil medium-term notes (MTN) programme, Malaysian Rating Corp Bhd (MARC) said.
MALAYSIAN Resources Corp Bhd (MRCB) said that the Government has agreed to make good on toll revenues foregone of MRCB’s newly-completed wholly-owned Eastern Dispersal Link (EDL) in Johor, of which tolling did not commence on May 1 as scheduled.
K.M. Lee writes on Berjaya Food, MBf Holdings and Pos Malaysia
HONG KONG: Investor concern that Hong Kong Exchanges and Clearing Ltd (HKEx), operator of Asia’s largest bourse, is overpaying with its US$2.2bil buy of the London Metal Exchange (LME) knocked its shares down by the most in two weeks.
KUALA LUMPUR: Mudajaya Group Bhd is expecting its 26% owned Indian associate company RKM Powergen Private Ltd to be profitable from 2013 after the coal-fired power plant there starts operations, said group managing director and chief executive officer Anto Joseph.
KUALA LUMPUR: GHL Systems Bhd, an end-to-end payment services enabler, would focus on Asean after irregular transactions in the China operations led to substantial losses last year.
PETALING JAYA: AEON Credit Service (M) Bhd’s net profit rose 46.4% to RM28.1mil for the three months to May 20, 2012, from a year earlier, on higher transaction and financing volume.
PETALING JAYA: Berjaya Sports Toto Bhd’s (BToto) net profit for the fourth quarter ended April 30 slipped 12.5% to RM91.21mil from RM104.19mil mainly due to higher prize payouts.
GEORGE TOWN: Asas Dunia Bhd is launching 1,356 units of landed properties worth approximately RM300mil in gross development value in Seberang Prai from now until the end of 2013, due to the growing interest to invest in properties in Seberang Prai.
BEIJING: Prices for new homes in China fell in more than half of major cities in May from April, official data showed, as the government vows to maintain controls over the property market.
SEPANG: Asia, Africa and Latin America represent important growth areas for the global logistics industry in the years to come, as these markets continue to become wealthier, said Deutsche Post DHL chief executive officer Frank Appel.
MELBOURNE: Australia’s Fairfax Media, publisher of some of the country’s leading newspapers, will overhaul its top mastheads and slash almost one-fifth of its staff, the beginning of a widespread shakeup of Australia’s media sector.
BRUSSELS: European Union (EU) finance ministers will lift financial sanctions on Hungary on Friday, two EU diplomats said, restoring Budapest’s access to half-a-billion euros of frozen funds and rewarding Prime Minister Viktor Orban for dealing with budget shortfalls.
PRAGUE: Plans by European Union banks to hike their capital by a combined 115 billion euros (US$145.19bil) by end-June have met the expectations of the bloc’s regulation coordinating body, the European Banking Authority (EBA), its head was quoted as saying yesterday.
Laura Pendergest-Holt, former chief investment officer for Allen Stanford, has agreed to plead guilty and receive a three-year prison sentence for her role in a $7 billion fraud, Bloomberg reported, citing three people familiar with the matter.
LOS CABOS, Mexico: China on Monday offered $43 billion to the IMF's crisis-fighting reserves, rounding off a global push to nearly double the Fund's war chest to $456 billion to help protect countries from fallout from the euro zone debt crisis.
BOSTON/SAN FRANCISCO: Oracle Corp reported stronger-than-expected quarterly profit on Monday, releasing the results three days ahead of schedule after news of the pending departure of a senior sales executive fueled concerns that business was stagnating.
NEW YORK: It is not every day that a company bungles something so badly that it has to turn to a regulator for help to clean up its mess. But that is what the Nasdaq stock market has done with the Financial Industry Regulatory Authority following its blunders in Facebook's US$16 billion initial public offering.
WASHINGTON: Asians have surpassed Hispanics as the United States' largest group of new immigrants, according to a report on Tuesday that some experts said reflects decreased demand for migrant labour and highlights the impact of state crackdowns on illegals.
NEW YORK: Donations to charity rose to $298.42 billion last year, but were still $11 billion below a 2007 record as nonprofits battle through the sector's second-slowest recovery from recession in 40 years, a study released on Tuesday said.
NEW YORK: Cash isn't just king. For some money managers, it has become jack, queen and ace, too.