Business

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.

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.

Bank rate cut not expected this year says economists

PETALING JAYA: Strengthening crude oil prices and stable external demand may stay the hand of Bank Negara policymakers on a rate cut this year.

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Interest rate cut impact

PETALING JAYA: Banking margins could be negatively impacted if the central bank decides to cut the overnight policy rate (OPR), should economic growth comes in weaker than expected.

5 May 2015 | 12:00AM |

Banking

Banks, Petronas stocks top losers at midday

KUALA LUMPUR: Banks and Petronas-linked stocks were among the top losers at midday on Wednesday, in line with key Asian markets except China, but a rebound in crude oil price could later support oil and gas related stocks.

6 May 2015 | 1:07PM |

Markets

Cahya Mata to expand cement production capacity by 60%

KUCHING: Cahya Mata Sarawak Bhd (CMS) will raise cement production capacity by almost 60% to 2.75 million tonnes per annum when its third grinding plant, currently being built, is commissioned in the first quarter of 2016.

5 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

Preliminary audit of Scanwolf finds possible irregularities

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.

6 May 2015 | 9:52PM |

Corporate News

Petronas, MISC, MMHE convert cargo vessel into mobile sea base

KUALA LUMPUR: Petronas, together with MISC Bhd and Malaysia Marine Heavy Engineering (MMHE), has converted Tun Azizan, a cargo vessel, into a mobile sea base ship with the necessity features to function as a long-term national security asset.

6 May 2015 | 5:10PM |

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