SapuraKencana Petroleum Bhd's unit has started arbitration proceedings against India's state-owned Oil and Natural Gas Corporation Ltd (ONGC) following a dispute over a contract to revamp 26 well platforms.
MADRID: Spain is considering freezing pensions and speeding up a planned rise in the retirement age as it races to cut spending and meet conditions of an expected international sovereign aid package, sources with knowledge of the matter said.
Shares of consumer dividend stocks fell on Friday as investors stayed on the sidelines while the FBM KLCI was in the red, weighed down by losses in Axiata and Genting.
PM: Astro listing reconfirms Malaysia's reputation as best destination for investment
K&N Kenanga Holdings Bhd's 25 million shares were transacted in an off-market deal on Friday at 85 sen each.
SINGAPORE: AirAsia Bhd CEO Tan Sri Tony Fernandes said the public listing of his long-haul budget carrier, AirAsiaX, was progressing and appeared imminent, but he provided no exact date in a speech to the Foreign Correspondents Club of Singapore on Friday.
Malaysia has a conducive environment for foreign investors, according to delegates at the China-Malaysia strategic business partner forum.
RCE Capital Bhd is exploring opportunities in the Islamic pawnbroking business.
The Malaysian Industrial Development Authority (MIDA) approved 469 manufacturing projects valued at RM27.5bil in January to July this year, which are expected to generate 46,137 jobs.
Blue chips slipped into the red at midday on Friday as buying support turned cautious, especially after the sharp pullback on Thursday, while key regional markets were mostly higher.
Malaysia produced an estimated 80 million tonnes dry weight of oil palm biomass in 2011, reflecting the importance and significant potential of biomass, said Plantation Industries and Commodities Deputy Minister Datuk Hamzah Zainudin.
Astro Malaysia Holdings Bhd is raising RM1.42bil from its initial public offering (IPO) through the sale of 474.30 million new shares at an indicative RM3 per share for the retail portion.
Mid Valley Capital Sdn Bhd (MVCap) has redeemed the RM200mil outstanding balance on its bonds ahead of the expected maturity date of Sept 15, 2016
Blue chips climbed in early trade on Friday, shrugging off a hesitant opening, with IGB REIT in focus on its debut.
IGB Real Estate Investment Trust (REIT) expects the upcoming Southkey Megamall that is being developed by IGB Corporation in Johor Baru to be injected into its portfolio by late 2015.
KUALA LUMPUR: Malaysia's auto-to-insurance conglomerate DRB-Hicom plans to sell 30 percent of its 70 percent stake in partly state-owned Islamic lender Bank Muamalat Malaysia, a source with knowledge of the deal said on Thursday.
Hwang DBS Vickers Research (HDBSVR) expects the FBM KLCI to remain under selling pressures with the psychological support level currently seen at 1,600.
RHB Research Institute has initiated coverage on IGB REIT, which will be listed on Friday, with an Outperform call and a DDM-based fair value of RM1.43, based on a cost of equity assumption of 7%. The offer price is RM1.25.
PIMCO'S Bill Gross, who runs the world's largest bond fund, said on Thursday that he does not see the Federal Reserve pulling back from its quantitative easing policies until the U.S. unemployment rate at least drops to 6 percent.
Maybank Investment Research maintains a Buy on Gamuda with a RM4.10 RNAV-based target price.
CIMB Equities Research said fears of higher gaming taxes following the 2013 Budget proposals could be valid this time round.
NEW YORK: The Dow edged up while the S&P 500 and Nasdaq cut most of their losses on Thursday as investors shifted attention from weak manufacturing data around the world to the belief that central banks' easy money policies will help revive the global economy.
KUALA LUMPUR: Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the local market.
KUALA LUMPUR: There is hesitation by the Government to enter into new foreign debt after issuing its global sukuk last year, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said.
PETALING JAYA: AirAsia Bhd may be expanding its wings to India through a new start-up with an Indian partner and also strengthening its presence in the Philippines by acquiring a stake in Zest Airways, newspapers reported in the two countries.
KOTA KINABALU: AirAsia group chief executive officer and director Tan Sri Tony Fernandes has urged the Government to build a truly low-cost airline hub in Kota Kinabalu, saying Sabah is strategically located in the Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area.
KUALA LUMPUR: Malaysia should introduce the Goods and Services Tax (GST) now as the country is still enjoying a fairly strong economic growth.
MACAU: Malaysia still has room to improve on its policies to promote the development of entrepreneurship in the country.
NANNING, China: The Malaysia-China Kuantan Industrial Park (MCKIP) in Gebeng, Pahang is making rapid headway on the ground as it gears up for domestic and international investors.
JOHOR BARU: Johor expects its oil storage capacity to hit 10 million cu m in the years 2017-2020 which will see it emerging as Asia’s new oil storage hub, said Johor Petroleum Development Corporation Bhd (JPDC).
KUALA LUMPUR: The Customs Department has ordered Harrisons Holdings (Malaysia) Bhd’s unit to pay RM91.75mil for duties and sales tax not paid under the Customs Act 1967 despite protests that it was not liable to pay them.
JOHOR BARU: Interest in Iskandar Malaysia’s EduCity @Nusajaya near here remains strong and has prompted Iskandar Investment Bhd (IIB) to embark on a second similar project.
BUCHAREST: Romania is set to become the gateway for Malaysian palm oil to penetrate East European markets.
KUALA LUMPUR: Although the size of Islamic financial assets are roughly US$1.2 trillion (RM3.72 trillion) to US$1.3 trillion (RM4.03 trillion) globally, it is only about 1% of the entire global financial system and hence, there are huge opportunities for growth.
KUALA LUMPUR: While Islamic financial cross-border transactions are fast gaining popularity, they also face a set of inherent risks and challenges, according to Dubai-based Fajr Capital Ltd’s CEO, Iqbal Khan.
KUALA LUMPUR: Malaysia’s corporate Islamic bonds are returning twice as much as government sukuk this quarter as economic stimulus spending boosts investors’ risk appetite.
PETALING JAYA: Permodalan Nasional Bhd (PNB) is said to be one of the biggest cornerstone investors out of the 22 that the country’s largest pay-TV operator – Astro Malaysia Holdings Bhd has secured for its US$1.5bil (RM4.5bil) initial public offering (IPO).
SHAH ALAM: DRB-Hicom Bhd plans to introduce a foreign partner to Proton Holdings Bhd and create a mega Islamic bank.
IT must have been very disappointing for the minority shareholders that braced the morning traffic to attend the Ace market-listed Ingenuity Solutions Bhd (Ingens) AGM which was held in a club tucked away in Bukit Jalil only to find out that the man they had hoped to question the RM90mil controversial offer did not show up.
KUALA LUMPUR: Chin Boon Long, a major shareholder of Ingenuity Solutions Bhd (Ingens), did not show up at the company’s annual general meeting (AGM) yesterday although he did send his proxies to the meeting.
KUALA LUMPUR: Datuk E. Sreesanthan filed several applications in relation to his insider-trading case, including one that seeks to have his charges struck out on the basis of the consent for prosecution being null and void in law.
TOKYO: Japanese supermarket chain Aeon Co has denied it is in talks to buy the Malaysian business of French retailer Carrefour SA, following a Reuters report the previous day that the two were negotiating a US$300mil deal.
PETALING JAYA: The disposal of Genting Singapore PLC’s entire 4.8% stake in Australia’s Echo Entertainment Group Ltd is unlikely to have a material impact on the Singapore-based hospitality and resorts specialist, according to analysts.
KUALA LUMPUR: Coastal Contracts Bhd will sell two Anchor Handling Tug Supply (AHTS) units and one Subsea Support Vessel (SSV) for RM111mil.
KUALA LUMPUR: World-renowned process equipment company, KNM Group Bhd, has obtained backing from its shareholders at its EGM for the proposed renounceable rights issue of 488,920,659 new shares at an indicative issue price of RM1 for each rights share.
KUALA LUMPUR: MWE Holdings Bhd through its wholly-owned subsidiary, Davex Holdings Bhd, has proposed to dispose of its entire 93.06% stake in Davex Malaysia Sdn Bhd (DMSB) to GLC (Asia) Holdings Ltd for RM170.3mil.
TNB appeals for loss in RM113mil lawsuit
PETALING JAYA: Fitch Ratings has assigned Malayan Banking Bhd’s (Maybank) US$800mil (RM2.456bil) 3.25% fixed rate subordinated notes due 2022, issued under the bank’s US$5bil (RM15.35bil) multi-currency medium-term note programme, a final rating of BBB+.
WE take a second quarter 2012 snapshot of the regional aviation sector. We maintain a “neutral” call on airlines, where the performance was worse than expected.
PETALING JAYA: Berjaya Land Bhd has posted a sterling jump in net profit to RM6.9mil for its first quarter ended July 31, compared with a net profit of RM1.88mil a year earlier.
KUALA LUMPUR: Pembinaan BLT Sdn Bhd (PBLT), a unit owned by Ministry of Finance Inc, has completed three major police facilities bringing the total gross development value to RM239mil.
PETALING JAYA: Little-known property developer Listari Marina (M) Sdn Bhd is building a mixed development at Klebang, Malacca with a gross development value of RM183mil and aimed at largely mainland Chinese buyers and Japanese investors seeking to invest in the country.
KUALA LUMPUR: Motor vehicle sales in August fell by 7,644 units or 12.9% to 51,823 units from the 58,382 units in the same month last year, according to the Malaysian Automotive Association (MAA).
TOKYO: Japanese automakers, led by Nissan Motor Co, have lost an estimated US$250mil in output because of anti-Japan protests in China this week and now face the risk that sales will sputter in the world’s largest car market.
BOSTON/NEW YORK: Oracle Corp's hardware sales are expected to drop further after tumbling 24 percent from a year ago, the software maker said, as it strives to turn around its Sun computer division amid tight technology budgets.
NEW YORK: U.S. federal energy regulators threatened on Thursday to suspend JPMorgan Chase & Co's
NEW YORK: The mortgage task force formed by President Barack Obama to probe misconduct that contributed to the financial crisis will soon take legal action, New York Attorney General Eric Schneiderman said on Thursday.
WASHINGTON: Microsoft Corp and Hewlett-Packard Co pushed back against claims by a U.S. Senate panel on Thursday that they used offshore units and loopholes to shield billions of dollars in profits from U.S. taxes.
NEW YORK: James Murdoch will be given more responsibility over News Corp's U.S. television operations more than a year after he became a central figure in the company's telephone hacking scandal in the UK, two sources familiar with the matter said.
ATHENS: Negotiators discussing Greece's bailout came closer to an accord in late night talks on Thursday but are still short of a final deal over some 11.5 billion euros (9.1 billion pounds) of spending cuts demanded by international creditors, officials said after talks concluded.
NEW YORK: U.S. federal policies to promote electric vehicles will cost US$7.5 billion through 2019 and have "little to no impact" on overall national gasoline consumption over the next several years, the Congressional Budget Office said in a report issued on Thursday.
TOKYO: About 41 percent of Japanese firms see friction with China affecting their business plans, with some considering pulling out of the country and shifting operations elsewhere, a Reuters poll showed, amid growing tensions sparked by a territorial dispute.
BOSTON: Rising U.S. factory productivity, spurred by falling natural gas prices, could help the nation boost exports of products such as locomotives and factory machinery and add as many as 5 million manufacturing jobs by the decade's end, a new analysis found.
FRANKFURT: Thousands of jobs may go at Deutsche Bank AG in Germany, with a first round of losses at its base in Frankfurt and its Postbank unit in Bonn, a German newspaper reported on Friday.
SINGAPORE: Petrolimex, Vietnam's top fuel importer and distributor, is seeking 70,000 tonnes of gasoline for October after earlier buying a similar volume for September, traders said on Friday.
SOUTH BEND, Indiana: St. Louis Federal Reserve President James Bullard disagreed sharply on Thursday with the suggestion of a fellow Fed official over the merits of explicitly targeting the rate of unemployment to guide U.S. monetary policy.
MELBOURNE/SAN FRANCISCO: Apple's iPhone 5 uses chips from Qualcomm, Avago and Skyworks Solutions, according to repair firm iFixit, which pried one open.
SYDNEY/TOKYO: Apple Inc's iPhone 5 hit stores around the globe on Friday, giving the consumer giant a boost ahead of the crucial end-of-year holiday season as rival Samsung Electronics Co stepped up its legal challenge over key technologies.
TAIPEI/SAN FRANCISCO: Taiwan-based AU Optronics Corp was fined $500 million by a U.S. judge for price fixing in the market for liquid crystal display panels, but the company's shares jumped as much as 5 percent early on Friday amid relief the fine wasn't larger.