Tradewinds Corp Bhd said it has held discussions with UDA Holdings Bhd on the Bukit Bintang Plaza (BB Plaza) redevelopment but nothing has been finalised.
If the proposed takeover of Maju Expressway Sdn Bhd (MEX) materialises, EP Manufacturing Bhd (EPMB), expects an excess of RM100mil in revenue in 2013, said its executive chairman, Hamidon Abdullah.
Malayan Banking Bhd (Maybank) is fully committed to its operations in Singapore, said its president and CEO, Datuk Seri Abdul Wahid Omar said.
Key regional markets including Malaysia ended the second quarter on a firmer note, chalking up late gains on Friday after European leaders meeting in Brussels agreed to ease repayment terms for Spain's banks.
Banks' net financing to the private sector rose RM22.3bil in May, mainly through banking system loans, to RM1,398.9bil from RM1,376.6bil in April, according to Bank Negara Malaysia (BNM).
LONDON: European shares were sharply higher and the single currency surged over 1 percent on Friday after euro zone leaders agreed a deal to stabilize the region's debt markets and recapitalize its banks, easing the funding strains on Spain and Italy.
Ingenuity Solutions Bhd saw a substantial shareholder Chin Boon Long raising his stake in the loss-making company with the recent acquisition of 11 million shares.
Tradewinds Corp Bhd confirmed that it will demolish the Crowne Plaza Mutiara Hotel and Kompleks Antarabangsa in Jalan Sultan Ismail to pave the way for a RM6 billion mixed development project.
China Stationery Ltd (CSL), an integrated plastic stationery company, has secured an anti-tampering plastic envelope trial order contract from China Post.
Multipurpose Holdings Bhd (MPHB) saw a total of 13 million shares transacted in an off-market deal valued at RM43.68mil.
SINGAPORE: Most emerging Asian currencies rose on Friday as investors covered short positions after European leaders unexpectedly agreed on measures to ease fiscal strains in Italy and Spain, although regional units are set to see quarterly losses.
Key Asian markets rallied in the morning session on Friday after European leaders unexpectedly agreed on measures to ease fiscal strains in Italy and Spain while the FBM KLCI climbed nearly eight points, powered by gains in plantation stocks and banks.
Public Mutual has declared distributions of between one sen per unit to six sen per unit for 10 of its funds for their financial year ending June 30, 2012.
Malaysia's top lender Maybank is prepared to locally incorporate its retail operations in Singapore if the city state's government requires it, a top company official said on Friday.
TOKYO: Asian shares and the euro surged on Friday after European leaders agreed that euro zone banks could be recapitalized without adding to government debt and opened the way for tapping a rescue fund, soothing fears over growing credit strains in Italy and Spain.
OCK Group Bhd plans to raise RM27mil from its proposed listing on the ACE Market of Bursa Malaysia Securities, which involves the issuance of 75 million new shares at an issue price of 36 sen each.
Construction and property development group Gabungan AQRS Bhd, which is seeking a listing on the Main Board of Bursa Malaysia Securities, plans to raise RM73.10mil from its listing exercise.
Blue chips advanced in late morning on Friday, with the FBM KLCI crossing the psychologically important 1,600 level on some mild window-dressing activities on the last day of the first half of 2012.
RHB Research Institute is maintaining its Market Perform call on Perdana Petroleum with an unchanged fair value of 62 sen.
Maybank Investment Bank Research said Gamuda’s nine-months net profit of RM407mil (up 36% on-year) which included a gain from the sale of land in Celadon City, was 76% of its full-year forecast and 78% of consensus.
Hwang DBS Vickers Research said the key FBM KLCI may be range bound with a slight positive bias on Friday.
BRUSSELS: Italy and Spain, battling searing market pressure in the euro zone's widening debt crisis, blocked agreement on measures to promote growth at a European Union summit on Thursday to demand urgent action to bring down their borrowing costs.
CIMB Equities Research said although KLCC Property’s share price has surged by 20% over the past month, it believes that there is still upside as it could rise to its fully-diluted RNAV of RM5.55 a share if a REIT pans out.
LONDON: Britain will expose on Friday a second scandal involving the country's banks in as many days, as Barclays boss Bob Diamond clings to his job after regulators slapped a record fine on the lender for rigging interest rates.
NEW YORK: JPMorgan Chase & Co's losses from disastrous derivatives trades will likely amount to $4 billion to $6 billion in the second quarter, far more than the original estimate of at least $2 billion, according to a person familiar with the matter.
NEW YORK: Stocks fell on Thursday but pared back sharp losses late in the session on talk of progress by European leaders in easing the region's debt crisis, while a Supreme Court ruling upholding a landmark healthcare law hit large health insurers.
KUALA LUMPUR: Petronas, via its subsidiary Petronas Carigali Canada Ltd, has reached an agreement to acquire Progress Energy Resources Corp for about 5.5 billion Canadian dollars.
SHAH ALAM: Muhibbah Engineering (M) Bhd will be able to cope financially despite CIMB Bank Bhd’s withdrawal from Asia Petroleum Hub Sdn Bhd’s (APH) restructuring exercise which resulted in a repayment delay from APH for services rendered.
PETALING JAYA: MBf Holdings Bhd (MBfH) has confirmed it is undertaking a tender process to sell its card and payment services business. Group chief executive officer Tan Sri Dr Ninian Mogan Lourdenadin said the company had received some very good bids and would definitely consider some of them.
PETALING JAYA: The International Trade and Industry Ministry (Miti) has developed a set of questionnaires to investigate the imposition of anti-dumping duty on steel wire rod imports.
PETALING JAYA: Sumatec Resources Bhd announced that as part of its regularisation plan, it will dispose of its entire stake in wholly-owned subsidiary North Malaysia Terminal Sdn Bhd to Aliran Ketara Sdn Bhd.
KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGVH) is confident about achieving its performance targets for 2012, provided crude palm oil (CPO) prices remain at around RM3,000 per tonne.
KUALA LUMPUR: Gamuda Bhd announced a higher pre-tax profit of RM196.03mil for the third quarter ended April 30 compared with RM158.37mil in the previous corresponding quarter.
IT is heartening to know that there is a push towards the setting up of a school for children affected with autism.
KUALA LUMPUR: TH Heavy Engineering Bhd, formerly known as Ramunia Holdings Bhd, expects to boost its order book over the next six months following RM1.5bil worth of tenders it has submitted.
KUALA LUMPUR: Tradewinds (M) Bhd’s shareholders have approved its plan to buy a building at Jalan Raja Laut for RM510mil cash.
PETALING JAYA: Wijaya Baru Global Bhd has announced to Bursa Malaysia that it has changed its name to Tadmax Resources Bhd.
PETALING JAYA: Property-based LBS Bina Group Bhd (LBS) is paying a first and final dividend payout of 2.5 sen per share for the financial year ended Dec 31, 2011.
KUALA LUMPUR: Perdana Petroleum Bhd’s unit, Perdana Nautika Sdn Bhd, has secured a RM86mil contract from Murphy Sabah/ Sarawak Oil Co Ltd.
KUALA LUMPUR: SILK Holdings Bhd has secured a RM23.725mil extension contract from Talisman Malaysia Ltd to provide an anchor handling tug supply vessel.
KUALA LUMPUR: The board of directors of the stockbroking operator Apex Equity Holdings Bhd will investigate and study the rationale behind the decision not to re-elect the chairman and independent non-executive director by certain shareholders.
KUALA LUMPUR: UMW Holdings Bhd’s unit UMW Drilling 4 (L) Ltd (UMW D4) has signed a sale and purchase agreement with SD Drilling Pte Ltd to acquire a jack-up drilling rig for US$214mil (RM684.13mil).
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), along with Samsung Group, Toyota Motors and Tata Group, were in the list of Hay Group’s Asia’s top 10 best companies for leadership.
KUALA LUMPUR: Berjaya Corp Bhd’s pre-tax profit declined to RM161.79mil in the fourth quarter ended April 30 from RM261.61mil in the same quarter last year.
JAKARTA: Malaysian retailer Parkson Retail Group will invest US$15mil (RM47.9mil) to open five new stores in Indonesia next year, said managing director Datuk Alfred Cheng.
KUALA LUMPUR: Crest Builder Holdings Bhd’s 51%-owned subsidiary, Landasan Bayu Sdn Bhd, had received a letter of intent from Lembaga Getah Malaysia (Malaysian Rubber Board) for the mixed property development with an estimated gross development value (GDV) of RM1.33bil.
PETALING JAYA: IJM Corp Bhd says the Government had scrapped its plans for a proposed extension of the New Pantai Elevated Highway Extension. However, the company intends to appeal for a reconsideration of the proposal with a revised alignment.
PETALING JAYA: Gerhard Pils has been appointed BMW Group Malaysia’s new president. He will assume his role effective July 1.
KUALA LUMPUR: Multi-Code Electronics Industries (M) Bhd (MCE) has received letters of acceptance from Perusahaan Otomobil Nasional Sdn Bhd (Proton) to supply parts for a new car model.
KUALA LUMPUR: Konsortium Transnasional Bhd (KTB) aims to rake in an additional revenue of RM2mil every month via its latest offering of lifestyle entertainment tablet to its express bus passengers.
KUALA LUMPUR: Two more viaduct contracts were awarded by Mass Rapid Transit Corp Sdn Bhd (MRT) following the sitting of its One-Stop Procurement Committee (OSTC) in Putrajaya yesterday.
KUALA LUMPUR: Global economic events, the tapering out of foreign fund inflows coupled with the loss of momentous support from local institutional funds on the FTSE Bursa Malaysia KL Composite Index will definitely bleak its outlook in the near term.
SERI KEMBANGAN: The Government will host a roundtable discussion with the private sector, especially players in the plantation industry, on the details of a proposal to export excess oil palm seeds.
KUALA LUMPUR: The Islamic finance industry will grow 15% annually in the next decade, after syariah- compliant banking assets surged in Asia in the past year, according to a global standards-setting body.
BRUSSELS: The European Union (EU), the United States and Japan asked the World Trade Organisation on Wednesday to form a panel to resolve a dispute over China’s export restrictions on rare earths.
NEW DELHI: India’s Prime Minister Manmohan Singh will seek within the next two to three weeks to clear up confusion over tax policy that has rattled investor confidence in Asia’s third largest economy, a government official said.
HONG KONG: China sent a strong signal it intends to push towards a freely tradable yuan, announcing plans for a test zone for the currency’s convertibility in Shenzhen, the same city that first tried out China’s broader economic reforms some 30 years ago.
SYDNEY: Australian fund manager Crescent Wealth plans to launch the country’s first Islamic pension fund by December and allocate between 15% to 30% of it in property, its managing director said.
ATHENS: Greek Prime Minister Antonis Samaras asked European Union (EU) partners yesterday to “respond to sacrifices” by recession-hit Greeks, and seek changes to the conditions of a second EU-International Monetary Fund bailout, a report said.
BRUSSELS: European Union (EU) leaders debated “a big leap forward” to strengthen their union and save the euro at a two-day summit which started yesterday, but divisions may scuttle efforts to shore up the single currency.
LONDON: Britain’s economy fell back into recession faster than first thought and seems unlikely to recover for some time, data showed, echoing grim predictions from a central bank now all but certain to revive its stimulus programme next week.
SINGAPORE: Singapore said that foreign banks with a relatively large share of deposits in the city-state will be required to locally incorporate their retail operations, forcing them to commit capital here.
NEW YORK: Companies would have to tell investors more about the risk of running short of liquid funds under a proposal from the board that sets accounting standards for US companies.
NEW YORK: The losses from JPMorgan’s botched derivatives trade may reach US$9bil, nearly five times the amount announced in May, the New York Times reported.