Genting Bhd's earnings fell 20.6% to RM534.55mil in the second quarter ended June 30, 2012 from RM673.22mil a year ago, impacted by a decline in casino business and weaker plantations performance.
Multi-Purpose Holdings Bhd's (MPHB) earnings surged 93.1% to RM134.62mil in the second quarter ended June 30, 2012 from RM69.69mil a year ago, boosted by its financial services segment.
Telekom Malaysia Bhd's earnings rose 173% to RM348.45mil in the second quarter ended June 30, 2012 from RM127.24mil a year ago and it rewarded shareholders with an interim dividend of 9.8 sen a share.
Kuala Lumpur Kepong Bhd's (KLK) earnings fell 46.1% to RM233.08mil in the third quarter ended June 30, 2012 from RM432.76mil a year ago as plantations profit fell by more than half.
Bursa Malaysia Securities has queried Pasukhas Group Bhd after its share price surged 404% to close at 60.5 sen on its first trading day on the ACE Market on Wednesday.
Crude palm oil (CPO) futures fell on Wednesday, dragging plantation stocks and the 30-stock FBM KLCI lower, on speculation that the stockpile could have increased.
Canada's Progress Energy Resources Corporation's shareholders have given their approval for Petroliam Nasional Bhd to acquire the company for C$22 a share.
AirAsia Bhd and its Indonesian partner PT Fersindo Nusaperkasa have received the Indonesian government's approval to acquire budget airline Batavia Air.
Sime Darby Bhd is working towards expanding its landbank of oil palm trees to more than one million hectares, by expanding in Africa and Indonesia.
LONDON: European shares fell on Wednesday, with traders citing worries over the weak global economic outlook and nervousness ahead of a key gathering of central bankers on Friday.
Ninetology Marketing Sdn. Bhd has offered to acquire 214.29 million shares of Ingenuity Solutions Bhd, or a 39.44% stake, at 55 sen a share.
The Economist Corporate Network, a unit of the UK-based Economist group, is considering raising its full year gross domestic product (GDP) growth forecast for Malaysia to above 4.7% following the country's robust economic performance in the second quarter and first half of the year.
Malaysia Steel Works (KL) Bhd's earnings increased by 22.6% to RM18.99mil from RM15.48mil a year ago, boosted by higher selling prices and improved margins.
Construction-property company Hock Seng Lee Bhd's earnings rose 7.5% to RM22.46mil in the second quarter ended June 30, 2012 from RM20.88mil a year ago due to higher revenue and improved margins from projects carried out.
AirAsia Bhd may order up to 100 planes from Airbus at the Berlin airshow next month, Bloomberg said.
Some fund buying of DiGi, banking stocks and Sime Darby helped the FBM KLCI snap the four days of losses in a lacklustre market while Pasukhas surged on its trading debut.
Shares of IJM Corporation Bhd fell to a low of RM5.08 on Wednesday after its core net profit for the first quarter ended June 30, 2012 was below market expectations.
Cagamas Bhd has issued conventional medium term notes (CMTNs) amounting to RM215mil which would be used to purchase conventional housing loans from the financial system.
Standard & Poor's Ratings Services believes Vietnam must undertake timely reforms of the country's state-owned enterprises and its banking sector, especially after the recent arrest of one of the founders of Asia Commercial Bank (ACB).
Shares of Bonia Corp Bhd fell on Wednesday as investors were disappointed with group executive chairman cum CEO Chiang Sang Sem's takeover offer at RM2.04 cash per share.
Hwang DBS Vickers Research (HDBSVR) sees the FBM KLCI trading range bound amid mixed market breadth for the time being in the absence of strong overseas leads and due to earnings disappointments.
CIMB Equities Research said Felda Global Ventures Holdings’s (FGVH) first half core earnings came in below expectations at only 40% of its and 39% of consensus full-year earnings.
Shares of Pasukhas Group Bhd opened at 27 sen, or 15 sen above its offer price of 12 sen, when it made its debut on the ACE Market of Bursa Malaysia on Wednesday.
Kenanga Investment Research is maintaining its Outperform recommendation on IJM Land and a target price of RM2.75.
NEW YORK: The euro rose against the U.S. dollar o n T uesday on bets the European Central Bank will soon act to tackle the bloc's debt crisis, while U.S. crude oil prices rallied as Hurricane Isaac approached the Gulf Coast. Stocks were little changed on Wall Street
Hwang DBS Vickers Research (HDBSVR)is maintaining a Buy on Hong Leong Bank and raised the target price to RM17 after rolling over its valuation base to CY2013.
TOKYO: Japan's top city gas supplier Tokyo Gas said it has signed a basic agreement to buy 900,000 tonnes per year of liquefied natural gas (LNG) from Malaysia for 10 years from April 2015.
Sime Darby Bhd's earnings fell 16.2% to RM1.099bil in the fourth quarter ended June 30, 2012 from RM1.312bil a year ago on higher operating expenses. However it rewarded shareholders with a dividend of 25 sen a share.
NEW YORK: The ESPN sports network agreed to pay Major League Baseball US$5.6 billion over eight years for a package of television and digital rights through the 2021 season, a deal that reflects the strong demand for live sports content.
PETALING JAYA: The local property industry continues to face many obstacles despite signs of steady economic growth, which was announced recently for the second quarter and the first-half, underpinned among other factors by a jump in construction activity as well as healthy consumption.
KUALA LUMPUR: IHH Healthcare Bhd net profit for the second quarter ended June 30 jumped by a whopping 426% to RM403.5mil on revenue of RM2.7bil that reflected an increase of 231% year-on-year.
PETALING JAYA: Low-cost carrier AirAsia Bhd posted a 3% drop in net operating profit to RM130.94mil for the second quarter ended June 30 compared with the quarter a year ago on a drop in ancillary income and a marginally lower seat-load factor of 80%.
PETALING JAYA: Felda Global Ventures Holdings Bhd (FGVH) made a net profit of RM188.4mil, or 5.20 sen per share, for its second quarter ended June 30, 32.5% lower than the net profit of RM279.3mil, or 15.80 sen per share, for the same period a year earlier.
JOHOR BARU: Iskandar Regional Development Authority (Irda) is confident of breaching the RM100bil cumulative committed investments by the end of the year.
KUALA LUMPUR: Lynas Corp Ltd, which has completed construction of Phase One of the Lynas Advanced Materials Plant (LAMP) in Malaysia, is now poised to play an important role in a critical global market.
SUBANG JAYA: IJM Corp Bhd is hopeful of clinching new contracts worth some RM4bil from the West Coast Expressway (WCE) project, according to CEO and managing director Datuk Teh Kian Ming.
PETALING JAYA: ACE Market-listed Ingenuity Solutions Bhd has come forward to clarify that it is currently not involved in any discussion related to an intention of a party to take over the company.
PETALING JAYA: Trading in the shares of United Malayan Land Bhd (UM Land) will be suspended with effect from 9am on Sept 5.
PETALING JAYA: The market remains positive about DRB-Hicom Bhd’s prospects despite the conglomerate posting a steep 64% year-on-year drop in net profit to RM32.6mil for its first quarter ended June 30.
PETALING JAYA: Bonia Corp Bhd has received a take-over offer from Freeway Team Sdn Bhd, Chiang Sang Sem and Chiang Fong Yee (the joint offerors) to buy the 49.83% stake in the company which is not already owned by the joint offerors and the persons acting in concert (PACs) with them for RM2.04 per share.
PETALING JAYA: Pipe-coating specialist Wah Seong Corp Bhd has completed the acquisition of 57.7 million shares in Petra Energy Bhd at RM1.68 per share.
FOR shipping companies across the container, dry bulk and tanker segments, the past few weeks have been very challenging as rates have fallen sharply due to the weak outlook for demand and the glut of vessels. This is not helped by the recovery in bunker fuel prices.
PETALING JAYA: The share price of plantation heavyweight IOI Corp Bhd closed unchanged at RM5.12 after reaching an intraday high of RM5.14 following the release of a weak set of quarterly earnings on Monday which disappointed investors.
KUALA LUMPUR: Aberdeen Asset Management Plc plans to start its first syariah-compliant stock funds targeted at Asian individuals as regional economies expand at more than 30 times the pace of the United Kingdom.
KUALA LUMPUR: IGB Real Estate Investment Trust has set a tight price range for the institutional tranche of its up to US$266mil (RM823mil) initial public offering (IPO), according to a term sheet seen by Reuters, indicating confidence in demand for the offer.
HONG KONG: Hong Kong’s securities regulator, in an unprecedented move, took Ernst & Young to court after the audit giant failed to turn over accounting records related to a China-based company.
HONG KONG: Shares of Foxconn International Holdings Ltd (FIH), the world’s biggest contract maker of cellphones, fell more than 8% to a two-week low on Tuesday after it posted its worst-ever first-half net loss due to dismal orders.
THE second-quarter results season threw up a mixed bag but few major surprises, according to industry observers.
PETALING JAYA: Carlsberg Brewery Malaysia Bhd posted a 21.7% jump in net profit in the second quarter ended June 30 to RM37.7mil on 11% higher revenue of RM383.4mil.
PETALING JAYA: Petronas Chemicals Group Bhd (PCG) boosted its profit for the second quarter ended June 30 by 8% year-on-year to RM900mil.
PETALING JAYA: Guinness Anchor Bhd (GAB) sees the mainstream alcoholic beverage market as the key battleground, after announcing yet another set of stellar results for its financial year ended June 30.
KUALA LUMPUR: Malaysia and Russia expect to sign a memorandum of understanding (MoU) this September which would enhance economic ties between the two and see their joint cooperation in supporting the development of their respective small and medium-sized enterprises (SMEs).
KUALA LUMPUR: Hong Leong Bank Bhd (HLB), the country’s fourth largest bank by profit size, said the outlook for the banking industry “remains challenging” on the backdrop of changing industry dynamics and increased regulations.
KUALA LUMPUR: RHB Capital Bhd (RHB Cap) is looking at expanding its customer base especially in the premier banking segment.
KUALA LUMPUR: Chemical Company of Malaysia Bhd (CCM) announced it has entered into an agreement to execute the drawdown with Bank of Tokyo-Mitsubishi UFJ, Ltd for a cross-currency swap amounting to RM100mil equivalent in US dollar.
KUALA LUMPUR: Banks intending to venture overseas or expand their international footprint should, among others, have a strong risk management system in place to expedite growth, according to international professional services company Mazars.
PETALING JAYA: At least two more airlines – Ethiopian Airlines and Zest Air – are expected to fly into Malaysia this year after four made their debut earlier this year.
MANILA: Airbus won a US$7bil order to help more than triple Philippine Airlines Inc’s fleet, beating Boeing Co to a deal despite the United States support for Manila in a diplomatic dispute with China.
KUALA LUMPUR: DiGi Telecommunications Sdn Bhd is expanding and upgrading its electronic flexible payment platform infrastructure to 14,000 new customer touch points nationwide.
BANGKOK:Thailand’s telecoms regulator will hold a long-awaited auction of 3G mobile phone licences on Oct 15 or Oct 16, a key step towards reforms in the sector, which will enable operators to tap more revenue from fast-growing data services.
KUALA LUMPUR: The National ICT Association of Malaysia (Pikom) is optimistic of sustained growth for the Malaysian economy despite the continuing fallout from the global financial crisis.
PETALING JAYA: The Malaysia-China Chamber of Commerce (MCCC) is confident that bilateral trade will continue to grow this year as there are increasing opportunities from China’s inland cities.
WASHINGTON: Singapore’s economy is set to weaken this year on the back of weaker global demand and related international financial and trade strains emanating from the eurozone debt crisis, the International Monetary Fund (IMF) said.
YANGON: Myanmar’s government has agreed a deal with a Japanese consortium to develop jointly a special economic zone on the edge of the commercial capital, Yangon, as part of moves to expand industry and bring in much needed investment.
FRANKFURT: Eurozone bank loans to the private sector, which had practically dried up in recent months, rose in July, and growth in eurozone money supply also accelerated, new data showed yesterday.
ATHENS: Greece plans to set up “special economic zones” to attract private investment and help lift its debt-laden economy out of depression, the government said.
BANGKOK: The Thai cabinet has turned down a plan to spend another 15 billion baht (US$480mil) on buying rubber to prop up prices but will monitor the situation to see if further intervention is necessary, the deputy agriculture minister said.
ATHENS: Greece estimates that a two-year extension on its bailout would create a financing gap of less than 18 billion euros (US$22.5bil), which it could cover by issuing short-term debt rather than pleading for more money from lenders, government officials have told Reuters.