Business

Maybank group Q1 earnings higher at RM1.7b (Update)

KUALA LUMPUR: Malayan Banking Bhd recorded higher earnings of RM1.7bil in the first quarter ended March 31, 2015 boosted by higher fee income.

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

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.

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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

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

DRB-Hicom earnings at RM300m in FY15

KUALA LUMPUR: DRB-Hicom Bhd recorded lower earnings of RM300.28mil in the financial year ended March 31, 2015 – a decline of 35% from the RM462.17mil in FY14 due to the inclusion of exceptional items in the previous FY.

28 May 2015 | 7:13PM |

Corporate News

Nexgram in talks with 1MDB, eyeing last available land at TRX

KUALA LUMPUR: Nexgram Holdings Bhd is eyeing the last available acres of land at 1MDB’s Tun Razak Exchange. “Our managers and agents are in talks with 1MDB and have voiced our interest to participate in the development of the project,” its executive director Alan How Han Lun told reporters

27 May 2015 | 12:00AM |

Property

WCT to acquire land in Klang for RM118m

KUALA LUMPUR: WCT Holdings Bhd's subsidiary Gabungan Efektif Sdn Bhd has entered into a sales and purchase agreement (SPA) with Elite Asia Pacific Sdn Bhd to acquire three pieces of land worth RM118 million located in Klang, Selangor.

28 May 2015 | 6:53PM |

Business 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

Magnum’s net profit rises 9.9%

KUALA LUMPUR: Magnum Bhd’s earnings rose 9.9% to RM90.76mil for the first quarter ended March 31, 2015 from RM82.53mil a year ago boosted by higher gaming profit.

28 May 2015 | 6:34PM |

Business News

Salcon's net profit falls more than half

KUALA LUMPUR: Salcon Bhd’s net profit for its first quarter ended March 31, 2015 fell more than half to RM7.60mil, from RM16.39mil on the back of lower revenue from its business segments and unrealised gain on foreign exchange.

28 May 2015 | 6:03PM |

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

Ewein banks on property for growth

GEORGE TOWN: Ewein Bhd, a leading company in the precision sheet metal fabrication industry, expects its property development business to be the main driver of the group’s growth in the near future.

28 May 2015 | 12:00AM |

Property

Genting Plantations first quarter earnings halved

KUALA LUMPUR: Genting Plantations Bhd’s Indonesian plantation segment held steady in the first quarter ended March 31 but a much lower performance by the Malaysia plantation business dragged down its overall profit.

28 May 2015 | 12:00AM |

Commodities

Malaysian palm oil price at 2-week high on weak ringgit

JAKARTA: Malaysian palm oil futures rallied to a two-week high on Thursday as traders took advantage of a falling ringgit, supported by gains in competing markets and signs that the El Nino weather phenomenon could already be hurting output in East Malaysia.

29 May 2015 | 7:04AM |

Palm Oil

Southeast Asia stocks: Mostly down

BANGKOK: Thai shares fell on Thursday as investors cut risk holdings a day before the release of April economic data, while most other Southeast Asian stock markets ended weaker as Asia weighed in the risk of a likely U.S. interest rate hike this year.

29 May 2015 | 6:58AM |

Stocks

Wall St. inches down on Greece, China worries

NEW YORK: U.S. stocks eased on Thursday as mixed messages about Greece's debt talks kept investor uncertainty high along with a sharp drop in Chinese shares after brokers tightened margin rules.

29 May 2015 | 6:45AM |

Stocks

Genting gains on weaker ringgit

PETALING JAYA: Earnings of Genting Bhd’s gaming, leisure and hospitality businesses dropped across the board in most of the countries it operates, except the United States and Bahamas.

29 May 2015 | 12:00AM |

Stocks

AirAsia revenue flat but earnings up

KUALA LUMPUR: AirAsia Bhd’s revenue for the first quarter ended March 31 was virtually unchanged at RM1.3bil from a year ago but net profit climbed 6.8% to RM149.3mil from RM139.7mil, boosted by growth in passenger volume.

29 May 2015 | 12:00AM |

Airlines

Privasia earnings down on expansion

PETALING JAYA: Despite achieving higher revenue, the costs that Privasia Technology Bhd incurred from its expansion into satellite business have resulted in the group reporting lower earnings for the first quarter ended March 31, 2015.

29 May 2015 | 12:00AM |

Stocks

Bursa Malaysia raps and fines stockbrokers

PETALING JAYA: Bursa Malaysia Securities Bhd has publicly reprimanded and fined two stockbrokers - Jeremy Hiew Jian Chang and Ng Soo Ging - for engaging in manipulative dealing activities on separate occasions.

29 May 2015 | 12:00AM |

Stocks

THHE plans to keep ops level low

KUALA LUMPUR: TH Heavy Engineering Bhd (THHE), which had laid off more than one-third of its workforce due to a lack of new fabrication orders, is bracing itself for tough times.

29 May 2015 | 12:00AM |

Stocks

Tremendous opportunities seen in Asean

KUALA LUMPUR: The Asean region offers tremendous opportunities for investors despite recording less-than-enthusiastic growth compared to other countries, according to UOB Asset Management (Malaysia) Bhd executive director and chief executive officer Lim Suet Ling.

29 May 2015 | 12:00AM |

Economy

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