Felda Global Ventures Bhd (FGVH) posted profit attributable to the owners of the company of RM192.16mil in the first quarter ended March 31, 2012, compared with RM359.05mil a year ago.
Handal Resources Bhd's unit has secured a RM150mil integrated crane services contract for ExxonMobil Exploration and Production Malaysia Inc.
Although the storm over Greece's position in the euro zone has passed, external headwinds remain a threat to economic growth, said Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop.
Blue chips closed off their day's best on Monday, with the FBM KLCI just managing to close barely higher, after hitting an all-time intra-day high of 1,611.50 earlier as key regional markets and European bourses sank into the red.
Some 89.2% of the total 662,939 establishments undertaking business activities in the country in 2010 were in the services sector, the Economic Census Report 2011 has revealed.
Padiberas Nasional Bhd (Bernas) has allocated RM250mil for acquisitions and capital expenditure (capex) as part of its expansion plan this year, its managing director Datuk Bakry Hamzah said.
Luster Industries Bhd saw 76.139 million of its shares transacted in several off-market deals on Monday.
Property developer S P Setia saw 45.198 million of its shares or 2.3% of its paid-up transacted in an off-market deal on Monday.
LONDON: European shares and the euro fell on Monday as persistent fears about Europe's debt crisis and fresh concerns about global economic growth soured investors' appetite for risk.
Market capitalisation for Real Estate Investment Trust (REIT) in Malaysia is expected to grow by 30% to RM20bil this year from RM15bil last year, an industry player said.
Most Asian currencies fell on Monday, with market players reluctant to take on risk amid doubts that a European summit later this week will produce any concrete measures to stem the euro zone's sovereign debt crisis.
Apex Equity Holdings' share price hit limit-up on Monday, prompting Bursa Malaysia Securities to query the company.
Petronas Dagangan Bhd plans to invest RM200mil to nurture its recent acquisitions of six downstream companies.
E-commerce and payment services provider ManagePay Systems Bhd is teaming up with Belgium's BPost International to provide an integrated platform for Malaysian traders to sell to the Eurozone.
The FBM KLCI hit an all time intra-day high of 1,611.50 on Monday morning but the lack of strong follow-through buying, coupled with the weaker regional markets saw the index easing off by midday.
SEOUL: Samsung Electronics Co, the world's biggest smartphone maker, expects cumulative sales of its latest smartphone Galaxy S III to top 10 million units during July, JK Shin, head of its telecommunications business, said on Monday.
Kelington Group Bhd expects its newly-acquired Puritec Technologies (S) Pte Ltd, which designs and installs delivery systems for exhausts, to contribute to the group's earnings by the third quarter of this year.
CIMB Equities Research has raised the fair value for Malaysian Resources Corp Bhd (MRCB) from RM1.90 to RM2.02 on a report it is the frontrunner for a prime piece of land in Bangsar.
Luster Industries Bhd's share price slipped on Monday in active trade on some mild profit taking after the recent rally and heavy trading which prompted a query from Bursa Malaysia Securities last week.
The FBM KLCI hit an all-time intra-day high of 1.610.01 at 9.21am on Monday, as buying perked up after the initial hesitation.
MELBOURNE: Australian casino group Echo Entertainment has agreed to modified terms with its U.S. bond holders, which will allow it to use the proceeds of its A$454 million ($454 million) sale of shares to pay down debt.
Blue chips started the week on Monday on a lacklustre note, with the FBM KLCI in the red, with Petronas Dagangan and Petronas Gas the top decliners but with just 100 shares traded for each counter.
As the FBM KLCI closes in on its all-time peak of 1,609.33, recorded on April 3, Hwang DBS Vickers Research believes the 30-stock index may temporarily overshoot on the upside.
PETALING JAYA: Speculation over when the country’s 13th general election will be held, the impending listing of politically connected stocks together with a volatile external front continue to influence stock market performance.
Asian shares mostly slipped on Monday and the safe-haven dollar rose as concerns about faltering global growth and Europe's intractable debt crisis continued to sap investor confidence, but Japanese stocks were supported by a weaker yen.
PETALING JAYA: A move to set up an independent clearing house that will “blacklist” stolen handsets and bar them for being used again has drawn the ire of some operators who are not pleased with the service fee they may be mandated to pay.
Maybank Kim Eng Investment Research said much as it continues to view Bank Islam's and Syarikat Takaful's (RM6.12, Not Rated) prospects positively, the recent run-up in BIMB’s share price is cause to pause and take stock.
PETALING JAYA: After fighting a price war in the prepaid arena, players in the telecommunication sector seem to be in a mood for another battle in the international direct dialling (IDD) segment.
Hwang DBS Vickers Research (HDBSVR) is optimistic about Dialog Group's long-term prospects, as its tank terminal capacity will almost triple to 2.8 million cubic metres from one million cubic metres within three years.
KUALA LUMPUR: Malayan Banking Bhd (Maybank) is seeing growth in its consumer banking business, the top revenue earner for the group, despite numerous measures to cool the sector.
SHARE prices on Bursa Malaysia are set to be resilient and trend higher this week, riding on its status as a safe haven market during volatile times and defensive foreign funds rotation.
BY outbidding other contenders for a substantial stake in Petra Energy Bhd, pipe-coating specialist Wah Seong Corp Bhd is set to emerge as the second-largest shareholder in the integrated oil and gas (O&G) brown field services provider once the deal is finalised.
SINGAPORE: Measat Satellite Systems Sdn Bhd (Measat) plans to launch three satellites in the next two years to provide customers with innovative and “best-in-class” satellite solutions.
KUCHING: The new Samalaju Port project in Bintulu will involve massive dredging and reclamation works worth RM193.9mil as part of plans to expand port facilities.
KUALA LUMPUR: Financial services provider Malaysia Building Society Bhd (MBSB) intends to grow its Cheeky Savings Club to 50,000 accounts by the year-end from 16,000 currently.
KUALA LUMPUR: CIMB Group Holdings Bhd said it retained 331 out of about 600 Royal Bank of Scotland Group plc’s (RBS) staff in Asia-Pacific after buying most of its cash equities and investment banking operations in the region.
KUALA LUMPUR: The current economic uncertainty is putting companies under great pressure to look for ways to maximise returns from cash and handle their working capital more effectively.
IPOH: The setting up of mega Islamic banks in Malaysia will not merely serve the needs of the domestic economy but also position the country as the benchmark in Islamic global finance, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.
KUALA LUMPUR: The question many people ask now is whether Malaysia Airlines (MAS) can undertake a turnaround within its targeted timeframe, and the options available to ensure the national carrier continues to fly without having to contend with a financial turbulence time and again.
THE Malaysian Code on Corporate Governance 2012 (MCCG 2012) published in March stipulates that directors are deemed to cease being independent once they have been on a board for nine years. This brings Malaysia in line with other jurisdictions like the United Kingdom, Singapore and Hong Kong.
KOTA KINABALU: Sabah Chief Minister Datuk Seri Musa Aman expects more investors to come to the state this year and this will help boost its economy.
SP Setia’s stock is not given an outperform call, due to the property sector’s sensitivity to election risks. Potential re-rating catalysts include the finalisation of the Battersea land acquisition in the United Kingdom, strong new sales and record profits.
NEW YORK: Wall Street navigated some potent obstacles last week, like Greece’s elections and the Federal Reserve’s slashing of its US economic growth forecasts, but the drama is not over.
JAPANESE shares may rise again this week on the back of a weakening yen and hopes that a key EU summit will see further progress on Europe’s financial crisis, analysts said Friday.
GEORGE TOWN: SP Setia Bhd is projecting its Penang properties would generate about 15% or about RM500mil of the company’s 2012 revenue, expected to be about RM4bil.
KUALA LUMPUR: The crude palm oil (CPO) futures market is expected to be bullish this week amid a gloomy global economic scenario.
KUALA LUMPUR: The Malaysian rubber market is likely to be quiet this week as sentiment is still weak following the current downtrend on regional markets, dealers said.
KUALA LUMPUR: The tin price on the Kuala Lumpur Tin Market (KLTM) is expected to be steadier this week backed by strong demand for the commodity, dealers said.
SYDNEY: Australian gold production dropped by three tonnes to 62 tonnes in the first quarter versus the fourth quarter of last year, hindered by heavy rains at some mines, an industry survey showed.
NEW YORK: Money manager Ezra Merkin has agreed to pay US$410 million to settle a lawsuit brought by New York state that accused Merkin of secretly steering client money to Ponzi schemer Bernard Madoff, according to New York Attorney General Eric Schneiderman.
LONDON: Britons' pessimism about their future finances eased in June to signal the least downbeat outlook in more than two years as inflation slowed, lending support to policymakers' hopes that hardy consumers will keep the recession-hit economy afloat.
BRUSSELS: European leaders will discuss specific steps towards a cross-border banking union, closer fiscal integration and the possibility of a debt redemption fund at a summit on June 28-29, according to a document prepared for the meeting.
FRANKFURT: The head of Morgan Stanley's German unit has offered to step down following an uproar over emails he reportedly exchanged with a regional politician, and the bank has not yet decided whether to accept his resignation, according to two people familiar with the matter.
NEW DELHI: Indian Prime Minister Manmohan Singh was overseas and his outgoing finance minister was clearing his desk last week as the government quietly began preparing the ground for a new push to open up India's $450 billion retail sector to foreign firms.
TOKYO: Each April, hundreds of new graduates report for work in Japan's corporate world, all on the same day, all dressed in standard business black, and all ready to be molded into staunch company loyalists.
HONG KONG: Investment banks and brokerages across Asia have launched a sweeping round of job cuts as Europe's debt crisis and China's economic slowdown bite into the region's financial activity.
SINGAPORE: U.S. crude futures rose for a second straight session on Monday after the threat of a storm shut nearly a quarter of the country's offshore crude and gas output in the Gulf of Mexico.
ROME: Antonio Fazio, the disgraced former governor of the Bank of Italy, warned half-jokingly in 1998 that the euro would not be paradise but a "purgatory" that would demand years of pain and sacrifice.
PARIS: As Europe considers a leap towards closer integration to try to save the euro single currency, it resembles the biblical Tower of Babel - unable to complete an ambitious project because the residents don't speak the same political and economic language.
NEW YORK: A last-minute decision by Standard & Poor's Ratings Services to pull its ratings on a deal backed by commercial real estate loans is being examined by the Securities and Exchange Commission, the Wall Street Journal reported, citing employees questioned by the regulator.
LONDON: BlackBerry maker Research in Motion is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times reported.