Business

Tough turnaround for Malaysia Airlines

PETALING JAYA: Malaysia Airlines’ (MAS) new chief executive officer (CEO), Christoph Mueller (pic), in his first message to 20,000 employees has warned of massive cost cuts, as the chilling truth is that the airline’s cost has been 20% above that of its competitors.

F&N to launch RM2bil PJ property project in 2016

KUALA LUMPUR: Food and beverage company Fraser & Neave Holdings Bhd (F&N) is looking to launch its RM2bil integrated property project at Section 13, Petaling Jaya, by the second quarter of 2016.

SapKen poised to win RM5.35bil global jobs

PETALING JAYA: SapuraKencana Petroleum Bhd (SapKen) is poised to land two international jobs in India and Mexico respectively totalling about US$1.5bil (RM5.35bil), according to a source close to the deals. This development comes when the crude oil price has crossed US$60 per barrel two days ago, the first time in nearly five months.

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Record prices for apartments in Malaysia

PETALING JAYA: The Pavilion group is setting a record of sorts as it has priced its high-rise serviced residential units of its latest project – the Pavilion Suites – along Jalan Bukit Bintang starting from RM3,000 per sq ft.

6 May 2015 | 12:00AM |

Property

Gem of a portal: Kon Sean (seated 3rd from right) posing with employees of the online store.

Billionaire Quek's son starts online shopping portal

PETALING JAYA: Quek Kon Sean, the youngest son of billionaire Tan Sri Quek Leng Chan of the Hong Leong Group, has founded GEMFive, an online shopping portal that he plans to take into the regional digital space, targeting Singapore and Indonesia next.

6 May 2015 | 12:00AM |

Stocks

Kuwait Finance House says may sell Malaysia unit

DUBAI: Kuwait Finance House (KFH), the Gulf nations' biggest Islamic lender, may sell some of its investments including KFH Malaysia and has picked Credit Suisse to advise it on the matter, KFH said on Wednesday.

7 May 2015 | 7:25AM |

Banking

Oil market's bounce masks persistent risk in Malaysian debt

JAKARTA/KUALA LUMPUR: April was a good month for Malaysia's economy, one of the most deeply exposed to foreign debt in Asia, as a bounce in oil prices boosted foreign reserves and its currency rose the most in three years. But behind the good news lurks lingering danger.

6 May 2015 | 4:14PM |

Economy

Iskandar Regional Development Authority chief executive officer Datuk Ismail Ibrahim.

International food-based firm keen to invest in Iskandar

SENAI: An international food-based processing company has expressed strong interest to set up a multi-million ringgit manufacturing facility in Iskandar Malaysia, according to Iskandar Regional Development Authority (Irda) chief executive officer Datuk Ismail Ibrahim

7 May 2015 | 12:00AM |

Stocks

Press Metal (Sarawak) Sdn Bhds first aluminium smelter plant in Sarawak is located at Mukah. This plant is a twin facility, each wing is 750m long. Press Metal (Bintulu) Sdn Bhd is now building an even larger plant at Samalaju, which when operational at the end of this year, will be 1.2km long.

Press Metal posts higher Q1 net profit

KUALA LUMPUR: Press Metal Bhd, whose shares came under selling pressure in the second half of last month due to concerns of an aluminium glut, posted commendable results for the first quarter ended March 31.

7 May 2015 | 12:00AM |

Stocks

Kuwait Finance House says may sell Malaysia unit

DUBAI: Kuwait Finance House (KFH), the Gulf nations' biggest Islamic lender, may sell some of its investments including KFH Malaysia and has picked Credit Suisse to advise it on the matter, KFH said on Wednesday.

7 May 2015 | 7:25AM |

Banking

Press Metal (Sarawak) Sdn Bhds first aluminium smelter plant in Sarawak is located at Mukah. This plant is a twin facility, each wing is 750m long. Press Metal (Bintulu) Sdn Bhd is now building an even larger plant at Samalaju, which when operational at the end of this year, will be 1.2km long.

Press Metal posts higher Q1 net profit

KUALA LUMPUR: Press Metal Bhd, whose shares came under selling pressure in the second half of last month due to concerns of an aluminium glut, posted commendable results for the first quarter ended March 31.

7 May 2015 | 12:00AM |

Stocks

RM2mil profit for C.I. Holdings

PETALING JAYA: C.I. Holdings Bhd posted a net profit of RM2.23mil for the third quarter ended March 31 compared with a loss of RM2.14mil last year.

7 May 2015 | 12:00AM |

Stocks

Audit firm: ‘Possible irregularities’ in Scanwolf

KUALA LUMPUR: PKF Covenant Sdn Bhd, which Scanwolf Corp Bhd appointed on April 23 to conduct an investigative audit of the group, has highlighted in its preliminary findings “possible irregularities” in the company and some of its subsidiaries in the property development division.

7 May 2015 | 12:00AM |

Stocks

Iskandar Regional Development Authority chief executive officer Datuk Ismail Ibrahim.

International food-based firm keen to invest in Iskandar

SENAI: An international food-based processing company has expressed strong interest to set up a multi-million ringgit manufacturing facility in Iskandar Malaysia, according to Iskandar Regional Development Authority (Irda) chief executive officer Datuk Ismail Ibrahim

7 May 2015 | 12:00AM |

Stocks

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