Most key regional markets closed lower on Thursday on concerns about the weakening euro zone private sector and slower growth in China.
Perdana Petroleum Bhd has picked Wah Seong Corporation Bhd's unit as the successful bidder for the 26.9% stake in Petra Energy Bhd.
S P Setia Bhd's earnings rose marginally by 0.17% to RM92.38mil in the second quarter ended April 30, 2012 compared with RM92.22mil a year ago due to an absence of a one-off gain from the disposal of an investment property.
Malaysia Airlines (MAS) paid BinaFikir Sdn Bhd RM1.697mil in 2002 for the airline's financial restructuring under its widespread assets unbundling (WAU) project, said Deputy Finance Minister Datuk Donald Lim Siang Chai.
Luster Industries Bhd's share price surged 76% to 13.5 sen on Thursday and it was the most active counter.
Shares of MISC Bhd advanced to RM4.15 on Thursday, the highest since May 29, on rising optimism it would register better quarters ahead and return to the black.
MELBOURNE: Queensland pineapple farmers need protection from Malaysian imports which they claim could bring in pests and disease, the state's agriculture minister said on Thursday.
Malaysia Airlines (MAS) aims to return to profit by 2014 under its renewed business plan as it seeks to focus on revenue and use efficient aircraft.
AirAsia Bhd clarified that the RM7mil outstanding to Malaysia Airports Holdings Bhd (MAHB) as alleged is due to invoices that were wrongly made.
ManagePay Systems Bhd will roll out low-cost payment terminal solutions to local small and medium-scale enterprises (SMEs) and micro enterprises.
AP Land Bhd will build 14,000 houses for the military servicemen in Pahang, Perak and Terengganu.
Petroliam Nasional Bhd (Petronas) expects about US$5.2bil would be invested in the North Malay Basin gas development project in Peninsular Malaysia over the next five years.
Hock Seng Lee Bhd has clinched a RM26mil contract to build the infrastructure at Demak Laut industrial park in Kuching.
Key regional markets fell in the morning session on Thursday on concerns about a weaker China economy and after the US Federal Reserve lowered its economic outlook.
Tenaga Nasional's share price inched up on Thursday to RM6.57 on expectations it would benefit from the weakening coal prices where the commodity accounts for one-fifth of its total costs.
CIMB Economics Research believes the US Federal Reserve will keep the door open for quantitative easing 3 (QE3) should US growth prospects take a turn for the worse.
BEIJING: China's factory sector contracted for an eighth straight month in June, with export orders and prices turning in their weakest showing since early 2009, a private-sector survey showed on Thursday.
Blue chips shed some of their gains on Thursday after the four-day rally during which the FBM KLCI was just a hair breath from the all-time closing high of 1,606.
SINGAPORE: Asian stocks struggled and commodities fell broadly on Thursday after the Federal Reserve ramped up monetary stimulus by expanding "Operation Twist", but disappointed some investors who had been hoping for more aggressive measures.
OSK Retail Research is eyeing an immediate resistance for the FBM KLCI at the 1,600 psychological mark, followed by the 1,605 level.
MADRID/BRUSSELS: Spain's borrowing costs will probably hit a new euro era high at a debt auction on Thursday, a few hours before it sheds light on the dire state of its weaker banks and possibly makes a formal request for European Union funds to rescue them.
RHB Research Institute is positive on Maxis’ move to focus on key markets such as the immigrant, student and tourist segments and the Sabah and Sarawak region where growth is still attractive.
RHB Research Institute is maintaining its Outperform on Jaya Tiasa but raised the fair value from RM8.55 to RM9.05 based on sum-of-parts.
WASHINGTON: The U.S. Federal Reserve on Wednesday delivered another round of monetary stimulus and said it was ready to do even more to help an increasingly fragile U.S. economic recovery.
NEW YORK: Stocks edged lower on Wednesday after the Federal Reserve acted to aid the fragile economy with stimulus measures that were in line with market expectations but went no further.
PETALING JAYA: Indications are that some aspects of the revised National Automotive Policy (NAP) will soon make its appearance, ending the long wait for liberalisation of the sector.
PETALING JAYA: Dany Bahar, the flamboyant and allegedly free-spending former chief executive officer of Group Lotus plc, has reportedly decided to sue DRB-Hicom Bhd, the ultimate owner of Lotus, for wrongful termination.
KUALA LUMPUR: Malaysia’s interest rates at 3% currently are still “appropriate”, with the domestic market remaining strong, unless any significant development surfaces, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said.
SINGAPORE: The Malaysian Communications & Multimedia Commission (MCMC) is finalising its allocation of the 2.6GHz spectrum that will accommodate the shift to fourth generation wireless and long-term evolution networks by Malaysian telecommunication companies.
SINGAPORE: Maxis Bhd will this year focus on key markets such as the immigrant, student and tourist segments and the Sabah and Sarawak region where growth is still attractive, according to chief executive officer Sandip Das.
KUALA LUMPUR: KUB Malaysia Bhd’s subsidiary, Empirical Systems (M) Sdn Bhd has accepted a contract worth RM11.69mil from the Home Ministry to supply toner and printing consumables to the police force.
KUALA LUMPUR: MISC Bhd’s decision to exit the liner business is “sound” as it expects the next few quarters to be “better than before,” said chairman George Ratilal.
KUALA LUMPUR: Banks can dispose off non-performing loans (NPLs) as part of their risk management practice, Bank Negara said.
CYBERJAYA: Malaysia’s fragmented rail industry requires a coordinated approach to policy, regulation and industry development in order to capture a bigger share of the nearly US$218bil global rail market.
KUALA LUMPUR: Jaya Tiasa Holdings Bhd recorded a lower pre-tax profit of RM38.901mil for the three-month financial period ended April 30, 2012 compared with RM72.841mil seen in the same period of 2011.
KUALA LUMPUR: ICT certification and training provider Prestariang Bhd intends to distribute quarterly interim dividends this year, instead of a final dividend.
SHAH ALAM: MBM Resources Bhd is waiting for the revised National Automotive Policy (NAP) to be announced before making decisions on its planned vehicle assembly business.
NEW DELHI: Malaysia is currently mapping out plans to make its palm oil sector more competitive but it would not mirror that of Indonesia’s strategies, which in reality, will result in huge losses for producers.
KUCHING: The Sarawak Oil Palm Plantation Owners Association (SOPPOA) will collaborate with the Malaysian Palm Oil Board (MPOB), to conduct research on ganoderma, its secretary Philip Ho said.
PETALING JAYA: Eyewear-based Focus Point Holdings Bhd is finalising franchising deals in Indonesia as the group seeks to expand its business across South-East Asia.
JOHOR BARU: Composites Technology Research Malaysia Sdn Bhd (CTRM) is targeting countries in the region to market its unmanned aerial vehicles (UAVs).
SHAH ALAM: Kumpulan Perangsang Selangor Bhd (KPS) is looking at a potential sale of its 20% stake in Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint), which is the concession holder of the 26.5km Sprint Highway.
KUALA LUMPUR: MAA Group Bhd is looking into the possibility of setting up a private equity business in view of the future potential of the business to the group.
PETALING JAYA: Drugmaker Pharmaniaga Bhd and Syarikat Takaful Malaysia Bhd closed at all-time highs in line with the strong market momentum which saw the local bourse’s benchmark FBM KLCI gain 0.59% or 9.41 points to 1,604.39, just shy of the historic close of 1,606.62 in April.
KUALA LUMPUR: Malaysia’s trade with China and Europe is still steady, held up by domestic consumption in China and sustained investor interest from Europe.
KUALA LUMPUR: AirAsia said it is not involved, directly or indirectly, with the hosting of any lottery programmes, promising lucrative cash prizes or any shopping voucher programmes.
Kuala Lumpur: US-based biochemical company Gevo Inc will invest RM1.65bil to build the world’s first bio-isobutanol from biomass manufacturing plant at the Kertih BioPolymer Park in Terengganu.
KUALA LUMPUR: Malaysian Biotechnology Corp (BiotechCorp) is spearheading the commercialisation of Malaysia’s biotechnology sector through a series of agreements and memorandum of collaborations.
BOSTON: Five collaborations and partnerships between Malaysian and international biotechnology firms with investments worth over RM3bil were sealed during the BIO Boston on Tuesday.
On IOI Corporation, Kimlun Corporation and WTK Holdings
HANOI: Banks in Vietnam had weaker financial performance in 2011 than the year before and their bad debts recently have been “rising continuously”, the central bank said in a report.
TAIPEI: Taiwan’s central bank is set to keep interest rates on hold at its policy meeting this week for the fourth straight quarter, looking to support the export-led economy as global growth slows while guarding against the prospect of higher inflation.
SINGAPORE: Asia’s top companies are less upbeat on their business outlook than in the first quarter, with mounting concern over the eurozone crisis and a slowdown in China’s growth, according to the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey.
SYDNEY: Rio Tinto will spend US$3.7bil to boost its Australian output of iron ore, its most profitable business, shrugging off forecasts of waning demand and a looming global supply glut as Chinese manufacturing slows.
MELBOURNE: Rupert Murdoch’s News Corp made a US$2bil takeover offer for Australia’s Consolidated Media Holdings, boosting top shareholder and billionaire James Packer’s war-chest as he abandons media in favour of casinos.
HONG KONG: China’s Huadian Fuxin Energy Corp raised about US$319mil in a Hong Kong initial public offering (IPO), pricing the city’s second biggest offering of the year at the bottom of the indicative range as investors remain wary of new listings.
BEIJING: China’s top advisory body called on the government to relax property market restrictions to keep the economy growing, a newspaper said, the first such proposal by advisers to steady a weakening house market.
TOKYO: Japan’s exports rose in May from a year earlier at the fastest pace in almost 1½ years due to solid demand from the United States, but the trade deficit widened to the third highest level ever as energy imports surged.
NEW YORK: The Chinese arms of all the Big Four audit firms have been asked by US regulators to turn over documents related to audits of China-based companies listed in the United States, a source said.
TOKYO: Europe’s simmering debt crisis had made some Bank of Japan (BoJ) policymakers worried enough in May to signal readiness to ease monetary policy again should risks to Japan’s economy heighten, minutes of the central bank’s meeting last month showed.
LONDON: Liontrust Asset Management has swung to a full-year profit after the British group’s funds performed strongly, attracting new money, while acquisitions significantly boosted its assets, to £2.1bil (US$3.3bil).
LOS CABOS: After years of pressure to take a greater role in global affairs, China and India have stepped up by contributing to a new International Monetary Fund (IMF) emergency fund – from which the United States is absent.
STOCKHOLM: Hennes & Mauritz, the world’s second-biggest clothing retailer, beat quarterly profit forecast, joining larger rival Inditex in showing austerity-hit shoppers are keen to cheer themselves up with cheap fashions.
ISTANBUL: The Turkish lira, bonds and stocks all gained yesterday after credit ratings agency Moody’s raised Turkey’s sovereign debt rating by one notch to Ba1 from Ba2 and maintained its positive outlook on the country.
LONDON: The Bank of England (BoE) is close to launching a new round of monetary stimulus because of the worsening eurozone crisis, according minutes of its last policy meeting, which showed officials split 5-4 on the move, with governor Mervyn King in favour.
MADRID: Spain’s trade deficit narrowed in April as the recession-bound economy slashed imports, government figures showed yesterday.
MADRID: Spain said it had no need of a full-blown bailout and claimed the support of Europe yesterday even as its borrowing rate hovered near euro-era records.
ZURICH: Swiss investor sentiment plunged to its lowest level in five months in June, adding to signs that the ailing economic health of many neighbouring eurozone countries will drag on growth.