Business

PUBLIC Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed speaks during a press conferences after he a meeting at Parliament today.AZHAR MAHFOF/The star (25/5/2019)

Auditors under scrutiny in 1MDB probe

PETALING JAYA: The auditors of 1Malaysia Development Bhd (1MDB) will now be the focus of the inquiry by the Public Accounts Committee (PAC) after two key witnesses asked for a delay to appear before the committee.

TNB loses RM6bil in value over six days

PETALING JAYA: The mere speculation of purchasing the power assets under 1Malaysia Development Bhd (1MDB) had caused Tenaga Nasional Bhd (TNB) to lose some RM6bil in value over the last six trading days.

Grand-Flo upbeat on property development

PETALING JAYA: Property development is expected to provide half of Grand-Flo Bhd’s revenue this year, compared with a 20% contribution in 2014.

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Bumi Armada unit faces RM113m claim

KUALA LUMPUR: Bumi Armada Bhd’s unit is facing a claim of 28.5mil euros (RM113mil) from SEA Srl over a service contract for the post trenching and backfilling services.

26 May 2015 | 10:02AM |

Corporate News

Malaysian stocks continue downtrend

PETALING JAYA: Bucking the trend of Asian markets that were generally on an uptrend, the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) continued its downtrend, as it shed another 20.12 points or 1.13% to close at 1,767.38 points yesterday on the back of rising political undercurrents in the market. While global investors were net purchasers of Asian equity last week, they continued to be net sellers of Malaysian equity.

26 May 2015 | 12:00AM |

Stocks

Largest drop: Tourists visit Singapore’s famous Merlion in front of the skyline of the city’s financial business district. The city state’s headline CPI has been falling on a year-on-year basis since November, dragged down by a slide in global oil prices in the second half of last year as well as falls in housing rents and private road transport costs. – AFP

Singapore CPI drop biggest in five years

SINGAPORE: Singapore’s consumer prices recorded their biggest year-on-year drop in five years in April, an outcome analysts said could open the way to further monetary easing if economic growth disappoints later this year.

26 May 2015 | 12:00AM |

Economy

EPF i-Akaun usage increases 100%

KUALA LUMPUR: The usage of i-Akaun, an online facility to check Employees Provident Fund (EPF) savings, has increased to over 100% in the first quarter ended March 31.

25 May 2015 | 6:10PM |

Business News

Market sentiment takes a hit as Tenaga slumps

KUALA LUMPUR: Malaysia’s blue chips index, the FBM KLCI, closed down more than 20 points on Monday as market sentiment took a hit on worries Tenaga Nasional may buy 1MDB’s power assets at lofty prices.

25 May 2015 | 5:17PM |

Market Wrap

IFCA MSC slumps after CFO resigns (Update)

KUALA LUMPUR: IFCA MSC warrants and shares fell to their lowest since mid-April, triggered by rising investor worries following the resignation of its chief financial officer without any news of a fresh appointment.

25 May 2015 | 10:33AM |

Markets

Singapore economy grows 2.6% in Q1

SINGAPORE: The Singapore economy grew by 2.6% on a year-on-year basis in the first quarter of 2015, faster than the 2.1% growth in the preceding quarter, said the Ministry of Trade and Industry (MTI).

26 May 2015 | 11:19AM |

Business News

Bumi Armada unit faces RM113m claim

KUALA LUMPUR: Bumi Armada Bhd’s unit is facing a claim of 28.5mil euros (RM113mil) from SEA Srl over a service contract for the post trenching and backfilling services.

26 May 2015 | 10:02AM |

Corporate News

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