Business

Moody's take on 1MDB

KUALA LUMPUR: There is a worry that Malaysia’s fiscal consolidation may be derailed should the Government be forced to assist 1Malaysia Development Bhd (1MDB) financially.

Petronas to end gasoil storage at Tanjung Langsat

SINGAPORE: Petroleum Nasional Bhd (Petronas) is not planning to renew its lease to store gasoil at Tanjung Langsat Terminal (One) in Johor, southern Malaysia, once its contract ends in late May, industry sources close to the matter said.

Intel shifts Kulim ops to China and Vietnam, 600 let off

GEORGE TOWN: Chip-making leader Intel Corp is relocating some of its mature products to China and Vietnam from the facility in Kulim, and has started relieving some of the workers attached to them. Sources told StarBiz that the Kulim facility has for the past weeks let off about 600 workers involved in manufacturing

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1MDB’s Arul refutes Sarawak Report over BSI account

KUALA LUMPUR: 1MDB president and group executive director Arul Kanda Kandasamy has refuted an online blog Sarawak Report that he had allegedly provided false statement to Bank Negara Malaysia (BNM) that 1MDB had cash in a BSI account in Singapore.

28 May 2015 | 11:53AM |

Corporate News

Jamal declines to be re-elected

KUALA LUMPUR: Icon Offshore Bhd chief executive officer Dr Jamal Yusof, who is assisting the Malaysian Anti-Corruption Commission (MACC) in investigations into the company’s affairs, has withdrawn his offer to be re-elected to the board of the oil and gas services provider.

28 May 2015 | 12:00AM |

Stocks

1MDB audited assets worth RM51.4b

KUALA LUMPUR: The total worth of 1Malaysia Development Bhd (1MDB) audited assets for the financial year ended March 31, 2014 was RM51.4 billion, the Dewan Rakyat was told on Wednesday.

27 May 2015 | 4:09PM |

Business News

Malakoff posts RM104mil Q1 net profit

KUALA LUMPUR: Malakoff Corp Bhd, the independent power producer which was listed on Bursa Malaysia earlier this month, posted a net profit of RM103.9mil on revenue of RM1.35bil for the first quarter ended March 31.

28 May 2015 | 12:00AM |

Stocks

Mah Sing's net profit rises 18%

KUALA LUMPUR: Mah Sing Group Bhd’s net profit for the first quarter ended March 31, 2015 rose 18% to RM98.89mil from RM83.78mil a year ago due to higher work progress and sales from ongoing development projects.

28 May 2015 | 1:07PM |

Business News

Asian shares drop, dollar hits 13-year high vs yen

TOKYO: Asian shares shed gains on Thursday as the Chinese, Hong Kong and Australian markets slipped, while the dollar scaled a 13-year peak against the yen as it rallied on expectations the US Federal Reserve will raise rates this year.

28 May 2015 | 12:08PM |

Business News

Probe on 1MDB's BSI account

KUALA LUMPUR: Bank Negara has handed over the investigative findings on 1Malaysia Development Bhd’s (1MDB) controversial investment in BSI Bank Ltd in Singapore to the relevant enforcement agencies.

27 May 2015 | 12:00AM |

Banking

Dutch Lady unveils new products

PETALING JAYA: Dutch Lady Milk Industries Bhd expects to maintain its revenue target of RM1bil for this year with the introduction of two new products, said managing director Saw Chooi Lee.

28 May 2015 | 12:00AM |

Stocks

April online recruitment shrinks 23%

KUALA LUMPUR: Online recruitment in April shrank 23% in April, says Monster Malaysia, a unit of the US-based global online employment solution provider, Monster Worldwide Inc, with operations overseen by India.

28 May 2015 | 1:37PM |

Business News

Mah Sing's net profit rises 18%

KUALA LUMPUR: Mah Sing Group Bhd’s net profit for the first quarter ended March 31, 2015 rose 18% to RM98.89mil from RM83.78mil a year ago due to higher work progress and sales from ongoing development projects.

28 May 2015 | 1:07PM |

Business News

RAM Ratings revises Negative on Tan Chong

KUALA LUMPUR: RAM Rating Services Bhd has reaffirmed its short-term P1 rating for Tan Chong Motor Holdings Bhd's RM1.50 billion CP Programme (2014/2021) and the AA2 rating of its RM1.50 billion MTN Programme (2014/2034).

28 May 2015 | 12:20PM |

Business News

Asian shares drop, dollar hits 13-year high vs yen

TOKYO: Asian shares shed gains on Thursday as the Chinese, Hong Kong and Australian markets slipped, while the dollar scaled a 13-year peak against the yen as it rallied on expectations the US Federal Reserve will raise rates this year.

28 May 2015 | 12:08PM |

Business News

1MDB’s Arul refutes Sarawak Report over BSI account

KUALA LUMPUR: 1MDB president and group executive director Arul Kanda Kandasamy has refuted an online blog Sarawak Report that he had allegedly provided false statement to Bank Negara Malaysia (BNM) that 1MDB had cash in a BSI account in Singapore.

28 May 2015 | 11:53AM |

Corporate News

Questions arise about banks' role in FIFA bribery case

WASHINGTON: A raft of banks could face tough questions in the sweeping U.S. crackdown on alleged corruption in global football as prosecutors review how much they knew about millions of dollars in bribes flowing through the U.S. banking system to accounts around the world.

28 May 2015 | 10:49AM |

Banking

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