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

Genting Group breaks ground on Resorts World Las Vegas

KUALA LUMPUR: Genting Group on Wednesday conducted the groundbreaking ceremony of its Chinese-themed Resorts World Las Vegas (RWLV) - the first Las Vegas Strip development project in nearly a decade - witnessed by Nevada Governor Brian Sandoval and Clark County Commissioners.

6 May 2015 | 10:15PM |

Corporate News

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

Another weak start for KLCI

KUALA LUMPUR: Malaysia’s blue chips skidded in early Thursday trade, with the FBM KLCI down more than 11 points, which was a reminiscent of the previous day, on weaker US markets and Asian bourses.

7 May 2015 | 9:27AM |

Markets

Asian shares slip in early trade Thursday

TOKYO: Asian stocks slipped early on Thursday, taking a lead from weaker Wall Street, while a continuing rise in euro zone debt yields amid a global bond rout kept the euro hovering at a two-month peak versus the dollar.

7 May 2015 | 8:53AM |

Stocks

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