Business

Ultimatum for Malaysia Airlines unions

PETALING JAYA: The proposed law governing Malaysia Airlines Bhd (MAB), the new company that will take over Malaysian Airlines System Bhd (MAS), spells out clearly the terms that ensure unions and associations come to the negotiating table within a stipulated timeframe or risk losing out in any decision-making.

Khazanah is looking to re-negotiate MAS’ contracts with the employees and suppliers, as well as reducing the workforce by some 6,000 people.

Full immunity for Malaysia Airlines administrator

PETALING JAYA: The administrator of Malaysia Airlines (MAS) will have full immunity when exercising its power in running the operations of the national carrier.

Ooi (left) and Tey speaking to the media.

Drama at Protasco EGM, new twist in boardroom tussle

KUALA LUMPUR: It was supposed to be D-Day for Protasco Bhd shareholders as they were to vote on removing company directors at an EGM.

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Kuwait Finance House CEO resigns

PETALING JAYA: Datuk Seri Abdul Hamidy Abdul Hafiz, the chief executive officer (CEO) of Kuwait Finance House (M) Bhd (KFH), has tendered his resignation.

27 November 2014 | 12:00AM |

Stocks

FGV’s Q3 revenue up 34% to RM4.32b

KUALA LUMPUR: Driven by the consolidation of Felda Holdings Bhd (FHB) and Pontian United Plantations Bhd (PUP), Felda Global Ventures Holdings Bhd’s (FGV) revenue jumped 34% to RM4.32bil for the third quarter ended Sept 30 compared to a year earlier.

27 November 2014 | 1:48PM |

Corporate News

Singapore central bank may do more to contain household debt

SINGAPORE: Some highly leveraged households in Singapore may be vulnerable if interest rates rise or the economy slows, its central bank said on Thursday, adding that it will take more steps if needed to keep household debt at manageable levels.

27 November 2014 | 12:15PM |

Banking

Foreign funds turn net sellers on Bursa Malaysia

KUALA LUMPUR: Malaysia’s blue chips slipped in early Thursday trade on some selling on Telekom Malaysia, Petronas Dagangan and SapuraKencana Petroleum (SKPetro) after the recent buying interest while foreign funds were net sellers the previous day.

27 November 2014 | 9:35AM |

Corporate News

Rig rates tumble

PETALING JAYA: An oversupply and price war are pushing down drilling rig rates in the oil and gas (O&G) industry around the world, which could impact the earnings of some local players.

28 November 2014 | 8:03AM |

Business News

FGV’s plant in Pasir Gudang, Johor. Under the LLA, a hefty payment of about RM250mil per year has to be paid to Felda, which FGV has been paying on a quarterly basis.

FGV hit by land lease

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) posted its first net loss at RM9.33mil for the third quarter ended Sept 30 compared with a net profit of RM22.89mil in the same corresponding period a year ago.

28 November 2014 | 12:00AM |

Business News

Oil falls to 4-year low on doubts over Opec output cut

LONDON: Brent crude oil fell US$2 to a 50-month low under US$76 a barrel as oil producers in the Organisation of the Petroleum Exporting Countries (Opec) looked set to keep output unchanged despite a huge oversupply in world markets.

28 November 2014 | 12:00AM |

Crude oil

Magnum Q3 Q3 earnings down nearly 30% to RM45m

KUALA LUMPUR: Number forecast operator Magnum Bhd’s earnings fell 29.8% to RM45.42mil in the third quarter ended Sept 30, 2014 from RM64.77mil a year ago due to losses incurred by its investment holdings segment, mainly attributed to fair value losses of quoted investments.

27 November 2014 | 6:43PM |

Corporate News

Perak Corp 3Q earnings up 300% to RM24m

KUALA LUMPUR: Perak Corporation Bhd’s earnings jumped 300% to RM24.20mil in the third quarter ended Sept 30, 2014 from RM7.87mil a year ago, boosted by land sales under its township development.

27 November 2014 | 6:17PM |

Corporate News

Tenaga, Maybank, DiGi weigh on KLCI

KUALA LUMPUR: Fund selling of Tenaga, Maybank and DiGi dragged the FBM KLCI into the red at the close of Thursday’s trade, snapping a three-day rally following disappointing corporate earnings and weak oil price.

27 November 2014 | 5:42PM |

Corporate News

FGV’s Q3 revenue up 34% to RM4.32b

KUALA LUMPUR: Driven by the consolidation of Felda Holdings Bhd (FHB) and Pontian United Plantations Bhd (PUP), Felda Global Ventures Holdings Bhd’s (FGV) revenue jumped 34% to RM4.32bil for the third quarter ended Sept 30 compared to a year earlier.

27 November 2014 | 1:48PM |

Corporate News

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