Ajiya Bhd's subsidiary in Thailand is expanding its operations there with the building of a factory costing THB167.79mil (RM16.78mil) in Chonburi.
Asian markets rallied on Friday, with Hong Kong, Taiwan and Seoul notching gains of more than 2%, as investors expected central banks in Europe and the US would take steps to boost economic growth.
The Malaysian iron and steel industry might need to be consolidated in order to strengthen production capacity and tap the Asean market, said the Malaysian Iron & Steel Industry Federation (MISIF).
Plantation company, Kim Loong Resources Bhd, has allocated about RM10 million for research and development (R&D) to drive its downstream business forward.
The KL International Airport 2 (KLIA2), the new low-cost terminal at Sepang, will cost RM4bil.
A total of 374 million shares of Maxis Bhd was transacted as up to 3.29pm on Friday, valued at RM2.34bil.
LONDON: British bank Barclays Plc on Friday apologized for an interest rate rigging scandal that has rocked it and the banking industry in the past month as it beat expectations with an underlying half-year profit of more than 4 billion pounds.
Integrax Bhd's subsidiary has sealed a 28-year contract with Tenaga Nasional Bhd to provide handling services for the importation of coal for its power plant in Telok Rubiah, Perak.
The Ministry of International Trade and Industry forecasts Malaysia-China bilateral trade for 2012 to easily exceed the US$54.5bil (RM172.9bil) recorded last year.
Malaysia Airports Holdings Bhd (MAHB) reported net earnings of RM100.69mil in the second quarter ended June 30, 2012 from RM90.99mil a year ago.
Key regional markets rallied on Friday, as sentiment was glavanised by European Central Bank President Mario Draghi's pledge to preserve the euro but at Bursa Malaysia, investors viewed it was time to take some money off the table after the recent rally that drove the FBM KLCI to fresh record highs.
Maxis Bhd saw a total of 217.05 million shares transacted in several off-market deals on Friday valued at a total of RM1.363bil.
Telekom Malaysia Bhd will impose a credit limit policy for its UniFi customer with effect from Aug 1, which will be equivalent to three times the package monthly fee.
Shares of Perisai Petroleum Bhd rose to a high of 89.5 sen on Friday while UOB Kay Hian Malaysia Research maintained its BUY call with a target price of RM1.59.
Stocks on Bursa Malaysia were slightly higher in mid-morning trade on Friday, underpinned by gains in Petronas Dagangan and Genting but Maxis was among the biggest decliners.
Shares of Maxis Bhd fell the most in early trade on Friday on news that tycoon T. Ananda Krishnan was selling up to 375 million shares worth around RM2.35bil.
SAN FRANCISCO: Facebook Inc reported a drastic slowdown in revenue growth and failed to offer financial forecasts to quell fears about its ability to boost advertising growth, sending its shares plummeting to a record low.
Kenanga Investment Research is maintaining its Market Perform recommendation on MISC Bhd with an unchanged target price of RM4.76.
RHB Research Institute is maintaining its Outperform recommendation on SapuraKencana Petroleum with an unchanged fair value of RM2.52, based on 17 times FY13 EPS.
RHB Research Institute is maintaining its Market Perform recommendation on AirAsia with a fair value of RM3.87.
BIMB Securities Research expects the FBM KLCI to stage a rebound on Friday with the 1,630 as the immediate resistance level but should be restricted ahead of the weekend.
NEW YORK: The euro and stocks rallied on Thursday after European Central Bank President Mario Draghi pledged to do whatever is necessary to protect the euro zone from collapse.
SEOUL: Samsung Electronics Co, the world's top technology firm by revenue, reported a record quarterly profit of US$5.9 billion on Friday, as rampant sales of its smartphones more than offset a tumble in memory chip prices.
KUALA LUMPUR: Tycoon T. Ananda Krishnan is selling up to 375 million shares worth around RM2.35bil in the country’s largest mobile phone operator Maxis Bhd, according to a source familiar with the deal.
KUALA LUMPUR: Dorab Mistry compared the palm-oil market in 1998 to the Titanic and correctly predicted a slump from then-record prices the next year. He’s now forecasting another retreat as weakening demand outweighs a decline in Malaysian production.
NEW YORK: Manchester United has pushed off launching its US$300mil initial public offering (IPO), after having previously contemplated doing so as early as Tuesday evening or Wednesday morning. The decision followed a conference call between company officials and the lead underwriting banks on the offering.
KUALA LUMPUR: US-based National Instruments (NI) is aiming to set up its largest research and development (R&D) facility outside the United States with the expansion of its facilities in Penang.
KUALA LUMPUR: AirAsia Bhd unit AirAsia Investment Ltd and its partner, PT Fersindo Nusaperkasa, will acquire PT Metro Batavia, the company which operates the Indonesian Batavia Air and Aero Flyer Institute, an aviation training school.
KUALA LUMPUR: Timeliness and a concrete black-and-white commitment on fixed airport charges in the new low-cost carrier terminal is needed to cool down the ongoing tension between AirAsia chief Tan Sri Tony Fernandes and Malaysia Airports Holdings Bhd (MAHB), says Tan Sri Rafidah Aziz.
PETALING JAYA: Advertisers increased their media spending only by a marginal 1.8% in the first half of the year (H1) to RM5.08bil (excluding Internet spending), according to the latest data from Nielsen Malaysia.
PETALING JAYA: Latex prices’ downtrend will continue in the next few months due to improved supply and relatively stable demand, according to Top Glove Corp Bhd chairman Tan Sri Lim Wee Chai.
PETALING JAYA: Menang (M) Corp Bhd’s 51% subsidiary, Protokol Elegan Sdn Bhd (PESB), has entered into a concession agreement with the Higher Education Ministry and University Teknologi MARA to undertake the proposed building of Institut Latihan UiTM Nilai in Negeri Sembilan on a private finance initiative (PFI) basis of RM101mil.
KUALA LUMPUR: TSR Capital Bhd, through its wholly-owned subsidiary TSR Bina Sdn Bhd, has received two contracts from Mass Rapid Transit Corp Sdn Bhd, the concessionaire for the Mass Rapid Transit (MRT) project.
KUALA LUMPUR: SapuraKencana Petroleum Bhd’s wholly-owned subsidiary, Kencana HL Sdn Bhd, has secured two contracts worth RM250mil-RM300mil from Murphy Sarawak Oil Co Ltd.
SINGAPORE: The healthcare industry in Asia-Pacific is rapidly growing, fuelled by increased spending on health, liberalisation of investment policies, growing medical tourism activity and high adoption of new technologies.
PETALING JAYA: Malaysian housing developers and building materials distributors have expressed concern over the possibility that cement prices could go up next month.
KUALA LUMPUR: Malaysia’s exposure to the five troubled European economies of Spain, Greece, Italy, Ireland and Portugal by way of trade is minimal at only 1.5%, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.
With regard to our story, “IHH gains 10% on debut,” yesterday, Datuk Paduka Ismee Ismail and Datuk Wira Jalilah Baba were mentioned in the story as having been appointed to the board of IHH. In fact, they have been appointed to the board of Felda Global Ventures Holdings Bhd and not as stated. The error is regretted.
FOLLOWING impressive first half 2012 sales figures for Toyota and Perodua despite a slow cyclical start, we raise UMW’s combined sales total industry volume (TIV) from 281,000 to 288,000 (+2.6%) for 2012.
KUALA LUMPUR: Tasek Corp Bhd earnings fell 4.4% to RM23.13mil in the second quarter ended June 30, 2012 from RM24.21mil a year ago due to a weaker performance from the concrete segment.
LONDON: Weaker prices for oil worldwide and for gas in North America took their toll on Royal Dutch Shell’s profit in the second quarter.
PETALING JAYA: Some RM500mil worth of properties from both local and foreign developers will be up for sale at the Malaysia Property Expo (Mapex) in October.
KUALA LUMPUR: Alliance Bank Malaysia Bhd’s chief financial officer Eric Lee has resigned from his post “to pursue other career opportunities,” the bank said. Industry sources said that Lee would be joining a large property-based public-listed company.
KUALA LUMPUR: Bank Negara is working closely with the management of shopping complexes, office buildings and public transport companies to ensure that their auto-pay stations are calibrated to accept the new notes issued for circulation on July 16.
LONDON: Britain’s Lloyds Banking Group has received subpoenas from government agencies investigating a global interest-rate rigging scandal that has rocked the banking industry and has not set any money aside to cover a potential fine, it said.
KUALA LUMPUR: The coverage of Responsible Financing Guideline (RFG) should be extended to other broad policy measures by Bank Negara to non-bank financial service providers, said Alliance Bank representative at the 16th Malaysian Banking Summit.
KUALA LUMPUR: While the domestic banking sector has grown in its resilience and importance to the country, one question that has to be addressed is whether it is well-placed to support the development of the real economy, said Citibank Malaysia chief executive officer Sanjeev Nanavati.
TOKYO: Major Japanese medical equipment maker Terumo said it had offered to make a US$640mil capital injection in scandal-hit Olympus and merge under a holding company.
BRUSSELS: European Union regulators are seeking concessions from Google which could be applied worldwide to resolve concerns about its business practices, the EU’s antitrust chief said, raising the stakes in forthcoming settlement talks.
ZURICH: The former head of Swiss bank UBS, Oswald Gruebel, doubts whether traders at global banks acted with criminal intent to manipulate benchmark interest rates and accuses regulators of ignoring warning signs.
PARIS: Telecoms equipment maker Alcatel-Lucent will axe 5,000 jobs and exit or restructure unprofitable markets in a drive to cut costs by 1.25 billion euros (US$1.5bil) by the end of next year, as it battles stiff competition and weak demand.
LONDON: All eyes turn to London on Friday for the opening ceremony of the 2012 Olympics, an exuberant journey from Britain's idyllic pastures through the grime of the Industrial Revolution and ending in a contemporary world dominated by popular culture.
WASHINGTON: The U.S. government should block a bid by China's state oil company CNOOC for Canadian oil company Nexen until China's government provides fair access for U.S. companies that want to invest in China, a top Democratic senator plans to tell Treasury Secretary Timothy Geithner on Friday.
As women go through menopause, they may see a decline in their ability to carry out routine tasks such as climbing stairs and carrying heavy things, according to a U.S. study.
SAN FRANCISCO: Amazon.com Inc reported quarterly results on Thursday that showed the growth of new businesses is boosting the profit margins of the world's largest Internet retailer.
TOKYO: Japan's core consumer prices unexpectedly fell in June from the same period a year earlier as energy prices weakened, and mild deflation is likely to persist given companies are reluctant to raise wages due to uncertainty about the global economy.
HAVANA: Cuba adopted a new tax code this week and said it would loosen regulations on some state companies while turning others into cooperatives, as one of the world's last Soviet-style economies moves in a more market-friendly direction.
LONDON: British bank Barclays Plc, shaken to its core in the last month by an interest-rate rigging scandal, is bracing for more scrutiny on Friday on its plans to rebuild its brand and revive shareholder and customer confidence.
SAN FRANCISCO: A data center glitch brought down Twitter for roughly 2 hours on Thursday, as the micro-blogging service suffered its second widespread outage in 5 weeks and another blow to its reputation and reliability.
SINGAPORE: Inflation expectations of Singapore households edged higher in June from March, according to a university survey published on Friday, signalling authorities may find it harder to put a lid on future price increases.
SINGAPORE: Brent remained over $105 per barrel on Friday, buoyed by a European Central Bank pledge to protect the euro zone and hopes for fresh stimulus in the United States, though it stayed on track for its biggest weekly drop in over a month.
HANOI: Foreign investors poured an estimated $6.25 billion into projects in Vietnam in the first seven months of this year, down 0.8 percent from a year earlier, the government said.