Malaysian Rating Corporation (MARC) has downgraded its rating on Scomi Group Bhd's RM500mil medium term notes (MTN) programme to BBB+ from A.
Bumi Armada Bhd is expanding its fleet for the offshore support vessel market and it has appointed Singapore's Nam Cheong Ltd to build four vessels costing a total of US$130mil (RM410.67mil).
The FBM KLCI extended its winning streak for the fourth straight day on Wednesday, underpinned by sustained fund buying of key stocks, sending the FBM KLCI near the all-time historic closing high of 1,606.63 on April 3.
Fund buying of blue chips including Petronas-linked stocks pushed the FBM KLCI past the psychologically important 1,600 level in late trade on Wednesday.
Bank Negara Malaysia (BNM) has refuted a news report that banking institutions had sold non-performing loans (NPLs) to foreign parties.
ICT certification and training provider Prestariang Bhd is looking into mergers and acquisitions (M&As) to complete its software-developing and training value chain.
MISC Bhd, which posted net losses of RM465.08mil in the first quarter ended March 31, 2012, sees better quarters ahead and is expecting a profitable financial year.
MBM Resources Bhd (MBMR) expects its capital expenditure (capex) to be RM180mil for this year, the highest in the group's history.
Eyewear-based Focus Point Holdings Bhd is finalising franchising deals in Indonesia as the group seeks to expand its business across Southeast Asia.
KUB Malaysia Bhd's subsidiary has accepted a RM11.69mil contract from the Home Ministry to supply toner and printing consumables.
Key regional markets including Malaysia advanced in the morning session on Wednesday on investors' expectations the US Federal Reserve might announce added stimulus measures at this week's meeting.
The US-based biochemical company Gevo Inc., which develops bio-based alternatives to petroleum-based products, will invest RM1.65bil in the Kertih BioPolymer Park in Terengganu.
SAN FRANCISCO: When Microsoft Corp took the wraps off its Surface tablets on Monday in Los Angeles, it was the brightly hued keyboard that stole the show.
SAN FRANCISCO: Facebook Inc offered a rare peek on Tuesday at one facet of the elaborate system it uses to police its 900 million-user social network, as it attempts to keep it free of content it deems offensive, illegal or just plain inappropriate.
Crude palm oil (CPO) futures for third-month delivery surged to RM3,042 in early trade on Wednesday, the highest since June 1.
SEOUL: Emerging Asian currencies were mixed on Wednesday with the South Korean won and the Philippine peso rising as investors pondered whether the U.S. Federal Reserve will provide further monetary stimulus to boost recovery in the world's largest economy.
Mass Rapid Transit Corp (MRT Corp) has received seven bids for two tenders, namely power supply and distribution and track works, for the 51km Sg Buloh-Kajang line.
Shares of Pharmaniaga, BIMB and Syarikat Takaful Malaysia were among the top gainers in late morning trade on Wednesday amid the firmer market sentiment in line with key regional markets.
LOS CABOS, Mexico: Italy put forward a proposal at a G20 summit in Mexico on Tuesday for the euro zone's rescue funds to start buying the debt of distressed European countries, and the idea is expected to be discussed at a meeting of leaders in Rome on Friday.
Shares of Pharmaniaga Bhd continued to advance in early trade on Wednesday after Bursa Malaysia Bhd removed the "freeze" on the price.
MIDF Equities Research has set a post-listing target price (TP) for Felda Global Ventures Holdings (FGVH) at RM5.30.
RHB Research Institute is maintaining its Outperform call on QL Resources with a new fair value of RM3.55 (from RM3.70 previously) based on an unchanged target price-to-earnings ratio (PER) of 18 times FY03/13 earnings.
Hwang DBS Vickers Research (HDBSVR) expects the buoyant external backdrop to push stocks on Bursa Malaysia higher on Wednesday.
NEW YORK: Stocks rose on Tuesday on hopes that the Federal Reserve will agree to extend stimulus measures as the economy struggles to recover and the euro zone's debt crisis gets worse.
SAN FRANCISCO: Google Inc and Apple Inc are attracting renewed scrutiny of their practices due to privacy concerns - this time for flying "military-grade spy planes" over major U.S. cities as they race to shore up their rival 3D mapping services.
PETALING JAYA: Glomac Bhd’s sales for the financial year ended April 30, 2012 is expected to be more than RM500mil buoyed by strong demand in its three major townships.
PETALING JAYA: A day after acquiring a total of 7.7% stake in Echo Entertainment Group Ltd, Genting Bhd has again increased its shares in the Australian casino operator directly to 9.7%.
KUALA LUMPUR: Ahmad Zaki Resources Bhd (AZRB), which has an orderbook of RM1.9bil, is eyeing private sector projects, including redeveloping older buildings along Jalan Sultan Ismail in Kuala Lumpur.
GEORGE TOWN: Ivory Properties Group Bhd (IPGB) plans to launch RM1.6bil worth of properties on Penang island in the second half of 2012.
SUBANG JAYA: Mulpha International Bhd, which is trading at a large discount to its net tangible assets (NTA), is looking at narrowing this gap, according to executive chairman Lee Seng-Huang.
MERBOK: Entrepreneurs who have received funding from financial institutions will be monitored to ensure their businesses succeed and do not fail halfway, according to Deputy International Trade and Industry Minister Datuk Mukhriz Tun Mahathir.
DUBAI: Saudi-based Islamic Development Bank (IDB) priced an US$800mil five-year syariah-compliant bond or sukuk yerterday, lead arrangers said, in its first public debt issuance in over a year.
PETALING JAYA: Bursa Malaysia Bhd has uplifted the price “freezing” on Pharmaniaga Bhd’s share price with effect from today, two days after the imposition of the curbs.
KUALA LUMPUR: Mindshare Malaysia, part of the global media agency network GroupM, has been named Malaysia’s Media Agency of the Year in two separate awards.
KUALA LUMPUR: Mexico has been accepted as a new member of the Trans-Pacific Partnership (TPP) negotiations by the current nine participants after several months of bilateral consultations.
KUALA LUMPUR: AEON Credit Service (M) Bhd expects double-digit growth in credit card issuances for the financial year ending Feb 20, 2013.
KUALA LUMPUR: Structural-steel contractor Eversendai Corp Bhd is looking at mergers and acquisitions at home and regionally to enhance the group’s financial performance.
THE benchmark FBM KLCI closed 0.77% or 12.25 points higher at 1,594.98 for the second day of positive close in tandem with Asean peers’ closings while major bourses in Hong Kong, Shanghai and Tokyo fell.
KUALA LUMPUR: Felda Global Ventures Holdings Bhd’s (FGVH) talks on strategic venture partnership with Louis Dreyfus Commodities Asia (LDC) are ongoing, according to FGVH group president Datuk Sabri Ahmad.
KUALA LUMPUR: Flextronics Technology (Penang) Sdn Bhd will have to pay Public Packages Holdings Bhd’s unit, Public Packages Sdn Bhd, RM1.65mil as a full and final settlement of a legal suit within one month from June 13.
KUALA LUMPUR: Asia Media Group Bhd has fixed the issue price for the final tranche of the private placement shares at 38.5 sen each for the tranche allocation of 11.4 million shares.
SHARE prices on Bursa Malaysia closed firmer, bolstered by buying interest in blue chip stocks despite the retreat on most regional markets, dealers said.
KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB) is listing eight new European-style cash-settled structured warrants over the shares of Airasia Bhd, Gas Malaysia Bhd, Malaysia Airlines, Media Chinese International Ltd and SapuraKencana Petroleum Bhd on Bursa Malaysia with an issue size of RM100mil each.
PETALING JAYA: Kumpulan Perangsang Selangor Bhd (KPS) has entered into a proposed RM24.24mil investment agreement for a mobile virtual network operator (MVNO) business via a 30% equity stake in Ceres Telecom Sdn Bhd.
KOSSAN RUBBER INDUSTRIES BHD
SYDNEY: The new Securities Commission (SC) guidelines should increase the attractiveness of Malaysia’s syariah-compliant funds to investors from the Gulf.
KUALA LUMPUR: Malaysia Rating Corp Bhd (MARC) has affirmed its AAA rating on Cagamas MBS Bhd’s asset-backed fixed rate serial bonds of RM2.41bil with a stable outlook.
MUMBAI: India’s GVK Power and Infrastructure is seeking to raise US$500mil to US$600mil by selling a stake in its Singapore arm and is in talks with Government of Singapore Investment Corp for a potential deal, two sources with direct knowledge of the matter said.
ZURICH: Swiss bank Julius Baer says it is in negotiations with Bank of America (BofA) to take on Merrill Lynch’s global private banking arm with over US$90bil (71 billion euros) in assets.
CANNES: Two Kuala Lumpur-based advertising agencies – Grey and Ogilvy – have been shortlisted as finalists in the first award ceremony at the 2012 Cannes Lions International Festival of Creativity, but Malaysia is still waiting for its maiden trophy.
KUALA LUMPUR: More structured incentives should be given to enable Malaysian small-and-medium scale enterprises (SMEs) to grow bigger.
KUALA LUMPUR: 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.
KUALA LUMPUR: Pacific & Orient Bhd’s (P&O) wholly-owned subsidiary Pacific & Orient Insurance Co Bhd has received approval from the Securities Commission for the establishment of a subordinated notes (sub notes) programme with an aggregate nominal value of RM150mil.
KUALA LUMPUR: The race to win a bigger slice of South-East Asia’s insurance market is heating up as AIA Group, Manulife and Prudential plc compete for mid-size acquisitions in the region totalling up to US$1bil (RM3.18bil), sources said.
KUALA LUMPUR: Ronser Bio-Tech Sdn Bhd, a company involved in the treatment of high organic waste water, will set up a RM2mil factory to boost the use of mass biosystem (MBS) technology.
KUALA LUMPUR: The growth of the global biotechnology industry remains challenging with tight funding straining the traditional drug development model despite the industry’s financial performance stabilising.
KUALA LUMPUR: Several significant milestones, including the launch of a social media webcast, is expected to be announced by BiotechCorp at the ongoing BIO international conference and exhibition.
KUALA LUMPUR: TA Global Bhd, a property development company, is expanding its hotel portfolio with the acquisition of the five-star Movenpick Karon Beach Resort and Spa in Phuket, Thailand.
KUALA LUMPUR: Pasdec Holdings Bhd’s wholly-owned unit Pahang Aircraft Industries Sdn Bhd has signed a memorandum of understanding (MoU) with the Malaysian Aviation Training Academy Sdn Bhd to develop a parcel of land in Kampung Pandan, Kuantan.
KUALA LUMPUR: Countries and companies that are exposed to domestic demand such as Malaysia are preferred in view of the rising risk of a slowdown in global demand, ABN Amro Private Banking said.
KUALA LUMPUR: Malaysian banks lead the way in meeting customer expectations, according to new research from technology company SunGard and research-based firm Celent.
ONTARIO: The head of the United Nations body that oversees civil aviation says he expects to have a draft proposal on measures to tackle emissions from aviation by March 2013, rather than at the end of 2012 as he had said previously.
MADRID: The chief executive of International Airlines Group said investors were interested in buying a 12% stake in the airline owned by troubled Spanish lender Bankia.
LOS CABOS, Mexico: Europe won support from world leaders on Tuesday for an ambitious but slow-moving overhaul of the euro zone, even as pressure built in financial markets for quicker solutions to its debt crisis that threatens the world economy.
JAKARTA: Indonesia’s government can use US$2.55bil from its existing 2012 infrastructure budget for stimulus spending in the event the euro crisis worsens, its deputy finance minister said.
NICOSIA: Greece’s election has cleared the way for Cyprus to obtain urgently-needed funds to recapitalise its banks by the end of the month, either from the European Union rescue fund or a bilateral loan, its finance minister said.
LONDON: A central plank of European Union moves to rein in credit rating agencies will be diluted by lawmakers despite their calls during the financial crisis for tough action.
LOS CABOS, Mexico: World leaders and the International Monetary Fund (IMF) tried to inject fresh confidence into the flagging global economy on Monday at a G-20 summit in Los Cabos, Mexico dominated by Europe’s growth-sapping debt crisis.
LOS CABOS, Mexico: The president of the European Commission suggested on Monday that a way needed to be found to provide direct support to Europe’s banks rather than lending to governments so they can recapitalise distressed lenders.
LONDON: British inflation eased unexpectedly in May to its lowest in 2½ years due to slower price rises for food and fuel, strengthening the chance of more Bank of England (BoE) stimulus as the economy increasingly feels the heat of the euro debt crisis.
BOSTON: Oracle Corp reported stronger-than-expected quarterly profit, releasing the results three days ahead of schedule after news of the pending departure of a senior sales executive fuelled concerns that business was stagnating.
LOS CABOS, Mexico: World leaders extended by one year their vow not to put up new trade barriers at the Group of 20 summit on Tuesday in a last-minute deal that exposed deep rifts over protectionism.
LOS CABOS, Mexico: Anti-poverty groups complained on Tuesday that Europe's troubles hijacked the G20 development agenda and pushed into the background its work on addressing poverty and food shortages in the world's poorest regions.
MELBOURNE: Rupert Murdoch's News Corp made a $2 billion takeover offer for Australia's Consolidated Media Holdings on Wednesday, boosting top shareholder and billionaire James Packer's warchest as he abandons media in favor of casinos.
SINGAPORE/MUMBAI: Asia's top companies are less upbeat on their business outlook than in the first quarter, with mounting concern over the euro zone crisis and a slowdown in China's growth, according to the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey, published on Wednesday.
QUITO/LONDON: WikiLeaks' founder Julian Assange has taken refuge in Ecuador's embassy in London and asked for asylum, officials said on Tuesday, in a last-ditch bid to avoid extradition to Sweden over sex crime accusations.