MMC Corporation Bhd is privatising its 62.82% owned Aliran Ihsan Resources Bhd (AIRB) by acquiring the outstanding shares at RM1.84 each for RM181.12mil.
Coastal Contracts Bhd's sales received a big boost after it secured contracts for the sale of 12 vessels worth RM446mil, boosting the sales orders to RM583mil.
Lysaght Galvanized Steel Bhd has secured additional contracts worth RM22.75mil from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd for the supply of antenna poles.
The FBM KLCI snapped its four-straight days of record close to end Monday in the red, as sentiment turned cautious following the weaker regional and European markets.
Multi-Purpose Holdings Bhd's (MPHB) 11.94 million shares were transacted off-market at an average price of RM3.59 on Monday.
Hong Bank Bhd (HLB) will invest RM40mil in the next two years to open 20 new branches for its new sub-brand, Mach by Hong Leong Bank, group managing director Datuk Yvonne Chia said.
The government has allocated RM600mil for a facilitation fund to help Bumiputera companies implement infrastructure projects costing a minimum of RM5mil, with a maximum funding of 15% of the overall cost of the project.
LONDON: The euro hovered near a two-year low on Monday as the darkening global growth outlook kept risk assets under pressure, and with investors not hopeful of progress on the euro zone debt crisis at a meeting of finance ministers later in the day.
Malayan Banking Bhd aims to attract RM32mil in investments within the first year of its "Maybank Investment Silver Acccount" as part of its portfolio of its precious materials offerings to consumers.
LPI Capital Bhd kicked off the March-June earnings season, with net profit up 28.6% to RM40.43mil from RM31.42mil a year ago due to its focus on risk selection and its diversified business model.
SINGAPORE/HONG KONG: Four potential buyers, including Prudential Plc and Manulife, have made it through to a second stage of bidding for Aviva's insurance business in Malaysia in a deal worth about US$500mil, sources said.
Boustead Holdings Bhd's unit Mecuro Properties Sdn Bhd has proposed to issue up to RM900mil in nominal value of bonds.
Asian markets fell in the morning session on Monday, as investors' sentiment turned cautious on concerns about the sluggish US jobs data and cooling inflation in China.
OSK Investment Research is upgrading the plantation sector to Overweight on expectation of palm oil price entering a new three-year price upcycle, fuelled by increasing probability of a drought-inducing El Nino weather phenomenon.
Shares of Genting Bhd slipped on Monday amid profit taking and also concerns about the impact on its 52%-owned Genting Singapore following a stricter Casino Control Act proposed by the island republic.
BEIJING: China's annual consumer inflation cooled to 2.2 percent in June, from May's 3.0 percent, official data showed on Monday, giving Beijing more scope to ease monetary policy to support growth without stoking upward price pressures.
Blue chips started the week on Monday on a cautious note, in tandem with the regional markets, on mild profit taking after the four straight days of record closing highs last week.
TOKYO: Asian shares slumped on Monday after sluggish U.S. jobs data deepened worries about slowing global economic growth, and reinforced risk aversion ahead of China inflation figures and a meeting aimed at defining steps to shore up Europe's banks.
CIMB Equities Research is maintaining its Outperform recommendation on DRB-Hicom and its target price of RM4.10.
JF Apex Research has accorded a fair value of RM3 for IHH Healthcare Bhd, which will be listed on Bursa Malaysia end-July.
Hwang DBS Vickers Research expects the FBM KLCI to enter a consolidation phase after closing at a new all-time high of 1,620.55 on Friday.
KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) is in talks with the relevant parties and is optimistic of entering the African market early 2013.
PETALING JAYA: Last week’s launch of its first Airbus A380 aircraft by Malaysia Airlines (MAS) was a thumping affair, attended by dignitaries and enthusiasts enthralled at being the first to be on the inaugural flight from Kuala Lumpur to London.
PASIR GUDANG: Aside from the expansion of its core business in oil palm plantation, Felda Global Ventures Holdings Bhd’s fully-owned subsidiaries are also looking beyond the Malaysian shores.
Malaysian stock index hits all-time high; is there enough steam to keep the rally to end of the year
THE gravy train may just be what the local FBM KLCI is riding on right now, after it propelled to hit an all-time high of 1,620.55 points last Friday.
PETALING JAYA: A proposed law to regulate trading in gold and silver has yet to be formally discussed with industry participants, according to Tomei Consolidated Bhd group managing director Ng Yih Pyng.
KUALA LUMPUR: THE FTSE Bursa Malaysia KLCI (FBM KLCI) will see more upside this week, tracking the rebound in the commodities market and liquidity-driven rally in the US and European markets.
GEORGE TOWN: Local automated semiconductor equipment and chip-assembly companies expect a relatively healthy third quarter (Q3) but a sluggish fourth quarter (Q4) ahead, in which the book-to-bill ratio is expected to dip to below one.
KOTA KINABALU: Syarikat Takaful Malaysia Bhd is confident of surpassing the 30% growth projected for the takaful industry this year, says its general manager (retail agency) Mohd Suhaimi Ahmad.
PETALING JAYA: The lack of authorised vehicle sales data could have an adverse impact on various industry stakeholders and potential investors, say analysts and industry observers.
MIRI: Naza Quest Sdn Bhd, the sole authorised distributor of the Chevrolet brand in the country, plans to open more sales, services and spare parts (3S) centres in Sarawak.
PETALING JAYA: Former Bio Osmo Bhd managing director Datuk Seri Krishna Kumar Sivasubramaniam (pic) has come out to address speculation that he is selling out of the company and that the business direction of the company is changing.
FOLLOWING last month’s joint bid by SP Setia Bhd and Sime Darby Property Bhd to acquire the Battersea Power Station for £400mil (RM1.97bil), the two companies have now formed a 40:40:20 joint venture (JV) with the Employees Provident Fund to develop the London-based site.
KUALA LUMPUR: Joint ventures are welcomed but TA Securities is not in a hurry to jump on the consolidation band wagon, said TA Enterprise Bhd managing director cum chief executive officer Datin Alicia Tiah.
NEW YORK: Wall Street has been running in circles for the past two months, and the pattern may continue despite the upcoming start of the earnings season.
TOKYO shares are likely to trade in a narrow range this week amid investor uncertainty over the outlook for the global economy, dealers said last Friday.
ON 25 April 2012, Malaysia finally signed a comprehensive double tax agreement (DTA) with Hong Kong. With this, Malaysia can now be considered a country with a wide treaty network, having more than 60 treaty partners.
KUALA LUMPUR: The Malaysian rubber market is expected to remain firm this week amidst higher oil prices, dealers said.
KUALA LUMPUR: The tin price on the Kuala Lumpur Tin Market (KLTM) is expected to hover around the US$18,800-US$19,000 levels this week, said a dealer.
PETALING JAYA: Industry observers are positive on the Basel Committee’s move to tentatively agree on changes to a planned rule for assets that can easily be sold in the event of a financial crisis.
JOHANNESBURG: The South African government plans new measures to regulate banks and financial services to avoid risky behaviour while expanding services, according to Finance Minister Pravin Gordhan.
SUBIC BAY, PHILIPPINES: The Philippine central bank said on Saturday it had tightened the rules on its short-term special deposit instrument that has attracted funds amounting to 1.7 trillion pesos (US$40bil), to help tackle speculation that could heighten volatility in the foreign exchange market.
SAN FRANCISCO: Facebook Inc and Yahoo Inc have agreed to forge a broad Internet advertising and licensing partnership on Friday, laying to rest their dueling patent lawsuits.
ROME: Italy has raised more than 9.5 billion euros (US$11.7bil) so far in 2012 from a housing tax introduced as part of emergency budget measures, and is on track to meet its target for the full year, the Economy Ministry said on Saturday.
ATHENS: Greek Finance Minister Yiannis Stournaras warned Saturday his country needed more time to meet commitments made to European Union (EU) - International Monetary Fund (IMF) lenders if it wants to avoid deepening its recession.
LONDON: Barclays directors should limit any payoff for the bank’s former chief executive Bob Diamond (pic) and prevent another “outrage”, British Business Secretary Vince Cable said, conceding that the government cannot block the payments.
SHANGHAI: Chinese Premier Wen Jiabao said that the country’s economy faces downward pressure as he called for more aggressive moves to keep growth on track, state media reported.