AirAsia Bhd is set to work hand-in-hand with Malaysia Airports Holdings Bhd (MAHB) to discuss and resolve outstanding issues between them with regard to the new low-cost carrier terminal, KLIA2, in Sepang.
SINGAPORE: Thai billionaire Charoen Sirivadhanabhakdi launched a $7.2 billion offer to buy out other shareholders of Fraser and Neave Ltd (F&N), potentially derailing Heineken NV's
Formis Resources Bhd's unit had secured a RM17.49mil maintenance services contract for the e-court support services in Peninsular Malaysia.
S P Setia Bhd's earnings rose 10% to RM100.4mil in the third quarter ended July 31, 2012 from RM91.24mil a year ago, boosted by higher margin due to the continuous value-creation for its property projects.
Fund buying of CIMB and Tenaga helped power the FBM KLCI's rebound on Thursday, with the index up nearly 1% and snapping three-straight days of losses while AirAsia ended off its day's low.
BANGKOK: I-Bhd, the master developer of i-City, plans to seal a definitive joint development agreement with Thailand's retail developer, Central Pattana Public Company Ltd (CPN), within two months to develop a mall within its flagship i-City Cybercentre in Shah Alam.
United Plantations Bhd and Belgium's Oleon Sdn Bhd will invest RM96.33mil to build a 25,000 tonnes per year oleo-derivatives production plant in the Selangor Halal Hub.
CLIQ Energy Bhd, a special purpose acquisition company (SPAC) targets to penetrate regions outside Asia within two years of being listed on the Main Market of Bursa Malaysia.
The consortium comprising of Dialog Group Bhd, the Johor Government and Royal Vopak will invest RM4.08bil to develop the Pengerang LNG terminal project.
Fitch Ratings affirmed Petroliam Nasional Bhd's long-term foreign- and local-currency issuer default ratings (IDRs) at 'A' and its short-term foreign-currency IDR at 'F1'.
LONDON: The dollar fell to its lowest level since early May and stock and bond markets kept to tight ranges on Thursday while financial markets waited to see whether the U.S. Federal Reserve announces a new round of money printing later in the day.
Smartphones are expected to increase their market share in Malaysia's mobile phone shipments in 2012, expanding to 35% from 30% last year, and expected to increase further as prices continue to decline.
Samling Global Ltd has received nearly all the shareholders' approval to go ahead with the privatisation of Glenealy Plantations (M) Bhd.
Malaysian palm oil futures dropped on Thursday on expectations of output rising this month that could lead to a stock build-up, although losses were limited by expectations of strong Asian demand and tight supply of competing soyoil.
TH Plantations Bhd plans a Sukuk Murabahah programme of up to RM1.5bil in nominal value with a 15-year tenure.
The Malaysian market staged a technical rebound on Thursday, aided by some fund buying for recently oversold stocks including CIMB and Tenaga but AirAsia fell to a 12-month low.
Share price of AirAsia Bhd fell as much as 16 sen to RM2.86 on Thursday on concerns about the impact of Lion Air's entry into Malaysia but CIMB Equities Research recommended investors to accumulate AirAsia on share price weakness.
Fitch Ratings assigned an expected rating of 'BBB+(EXP)' to Malayan Banking Bhd's proposed US dollar-denominated subordinated notes.
Blue chips rebounded in late morning on Thursday, boosted by some fund buying of CIMB and Felda Global Ventures (FGV).
The FBM KLCI was in the red in early trade on Thursday, in line with key regional markets, with AirAsia in focus.
Kenanga Investment Research is downgrading property developers to Neutral from Overweight on potential worse-than-expected Budget 2013 risks and the closing general elections timeline.
CIMB Equities Research is maintaining its Outperform call on Dialog Group with a target price of RM2.91.
Hwang DBS Vickers Research (HDBSVR) sees Malaysian equities moving sideways for the time being as the underlying sentiment is still weak.
LONDON/WASHINGTON: In the biggest shakeup in Europe's aerospace and defense sector in more than a decade, Britain's BAE Systems
CIMB Equities Research said in September, the FBM KLCI fell 30 points to 40 points or about 2%, since its peak in mid-August, raising concerns in investors used to Bursa's stability, but it believes the market weakness is unlikely to drag on for too long.
SAN FRANCISCO: Apple Inc's
NEW YORK: Wall Street ended little changed on Wednesday, erasing early gains, as investors turned cautious before a Federal Reserve decision on another round of monetary stimulus to boost the economy.
PETALING JAYA: Interest in the first Internet service provider - Jaring Communications Sdn Bhd seems to have waned as three out of the four companies that have submitted proposals to buy the Internet company from the Government have ditched the plans.
PETALING JAYA: While the major shareholders are maintaining that they do not intend to privatise Bonia Corp Bhd, the leatherware, shoes and apparel company will focus on an aggressive overseas expansion drive.
PETALING JAYA: Glenealy Plantations (Malaya) Bhd’s special dividend of 52.75 sen per share has whetted the investors’ appetite.
THE new education blueprint is out and it seeks to address a lot of weaknesses in the “infrastructure” within the education system.
PETALING JAYA: AirAsia Bhd’s share price predictably took a beating yesterday, shedding 17 sen to close at RM3.02 following the formation of a new low-cost carrier (LCC) Malindo Airways which will start operation by next May.
KUALA LUMPUR: 3D Oil Ltd, the equal joint-venture (JV) partner of Hibiscus Petroleum Bhd to develop oil fields in Australia, is confident that their first project, the West Seahorse oilfield, will start producing oil and generating income by 2014.
KUALA LUMPUR: The public perception that the Selangor Government disagrees with the construction of the Langat 2 water treatment plant project “is untrue”, said Pengurusan Aset Air Bhd’s (PAAB) chief executive officer and director Datuk Ahmad Faizal Rahman.
SINGAPORE: Malaysia has started pumping oil from the Gumusut deepwater oilfield offshore Sabah, with an initial output of 10,000 barrels per day (bpd), sources familiar with the matter said.
KUALA LUMPUR: The Malaysian Government revenue is expected to hit RM200bil this year, with a boost from improved efforts to collect taxes and duties.
PETALING JAYA: Genting Malaysia Bhd’s indirect subsidiary Resorts World Sentosa Pte Ltd (RWS) has been fined $S600,000 (RM1.5mil) by the Singapore Casino Regulatory Authority (CRA) for partially reimbursing the annual entry levy paid by local patrons.
PETALING JAYA: Tycoon T. Ananda Krishnan-controlled Binariang GSM Sdn Bhd has partially redeemed RM1.06bil of its senior sukuk and prepaid US$6.87mil of its US dollar-denominated term loan, said a local ratings agency.
PETALING JAYA: The Shapadu group is not affected by the liquidation of Lebuhraya Shapadu Sdn Bhd as the highway toll concessionaire is a special-purpose vehicle (SPV), according to a Shapadu Corp Sdn Bhd spokesperson.
KUALA LUMPUR: Young entrepreneurs as well as new small and medium enterprises (SMEs) will soon have another avenue to market their products in Singapore when the Malaysia External Trade and Development Corp (Matrade) completes a process to pick 50 of them to kickstart a programme spearheaded by the Young Entrepreneur Organisation Malaysia (GMB Malaysia).
KUALA LUMPUR: A total of 23 million Bandar Raya Developments Bhd (BRDB) shares were transacted in several off-market deals on Wednesday.
PETALING JAYA: With the automotive industry’s cry for the energy-efficient vehicles (EEV) tax exemption period to be extended pacified, industry players are now shifting their hope on other incentives in Budget 2013 to encourage a more competitive business environment.
GEORGE TOWN: Volvo Malaysia Sdn Bhd expects its truck sales for 2012 to increase substantially this year.
CYBERJAYA: Affordable housing could yet make its way to Cyberjaya but this would be dictated by the needs of the market, said its master developer.
KUALA LUMPUR: Samsung Malaysia Electronics extends the Samsung Galaxy S3 range with a new collection of colours for the human-centric smartphone.
KUALA LUMPUR: French engineering firm AKKA Technologies plans to leverage on the expertise of local engineering company Strand Aerospace Malaysia by drawing from the latter’s pool of engineers.
Cyberjaya was conceptualised and designed some 15 years ago as the nucleus of Malaysia’s Multimedia Super Corridor. As the information technology (IT) city of the country, its goal was to attract a host of world-class multimedia and IT companies to set up businesses there.
KUCHING: Sarawak’s export plywood prices are likely to rise by 5% to 10% in the next three months or so as demand from Japan continues to pick up.
ELEVATED oil prices and subsequently higher product costs are not putting the brakes on Petronas Dagangan Bhd’s expansion plans. The company is set to open its milestone 1,000th petrol station this month as it accelerates efforts to become Malaysia’s No.1 petroleum retailer in two to four years.
IGB Corp shares pulled back to an eight-month low of RM2.41 on Aug 24 before turning range-bound on consolidation.
SINGAPORE: Singapore’s trade-dependent economy is likely to expand at a slower pace this year while inflation will probably be higher than what economists were expecting three months ago, according to a central bank survey released yesterday.
NAYPYITAW: A new foreign investment law should be promulgated in Myanmar soon, a senior minister said yesterday, after lawmakers compromised on certain proposals that were opposed by President Thein Sein who is keen to attract foreign companies.
SYDNEY: Lawyers for Asia’s richest woman and three of her children held preliminary arguments yesterday over who should control a US$4bil trust, a bitter family feud that has captivated Australia.
MUMBAI: India’s industrial production barely grew in July, with the anaemic pace of expansion suggesting broader economic activity remains weak and offering little relief to embattled Prime Minister Manmohan Singh’s as state elections loom.
HONG KONG: Hutchison Whampoa owner Li Ka-shing and Samsung Electronics Co chairman Lee Kun-hee, two of the richest men in Asia and among the biggest names in telecoms, met for the first time to discuss ways to deepen ties, especially in handset and network operations.
TOKYO: Japan’s core machinery orders beat expectations and rose for a second month in July in a sign that rebuilding in the quake-ravaged northeast underpins capital spending, but Europe’s debt crisis and slowing Chinese and US economies cloud the outlook.
TOKYO: The Bank of Japan (BoJ) is likely to hold off on easing monetary policy next week unless the US Federal Reserve embarks on a fresh round of bond buying and unleashes yen rises sharp enough to derail prospects of recovery in the fragile Japanese economy.
HONG KONG: Chinese banks will have their resilience tested in the next three to five years as operating conditions turn harsher, Standard & Poor’s Ratings Services (S&P) says in two articles recently released as part of a special report, titled “China Credit Spotlight.”
HELSINKI: Spain is considering seeking help from the European Central Bank’s (ECB) bond-buying programme but is not planning a full sovereign bailout, Prime Minister Mariano Rajoy was quoted as saying in Finnish newspapers.
LONDON: The number of Britons claiming unemployment benefit unexpectedly fell in August by the largest amount since June 2010, data showed, raising hopes that Britain’s labour market is improving.
STRASBOURG: Europe has moved a step closer to a banking union with a plan for the European Central Bank (ECB) to police banks, a cornerstone of the closer fiscal integration designed to end years of financial and economic turmoil in the region.
NEW YORK: Bond-rating company Moody’s Corp raised its profit forecast for the year as it expects strong growth in its corporate bond rating and analytics businesses.
KARLSRUHE: Germany’s Constitu-tional Court gave a green light yesterday for the country to ratify the eurozone’s new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund.
LONDON: Kingfisher, Europe’s biggest DIY retailer, said trading conditions were likely to worsen in France, its most profitable market, as it reported first-half group profit missed forecasts, hit by poor weather and a strong pound.
NEW YORK: Morgan Stanley agreed to buy the rest of a brokerage joint venture from Citigroup Inc at a lower-than-expected price valuing the business at US$13.5bil, a win for Morgan Stanley although it faces challenges to boost the operation’s profits.