Business

Upside for ringgit

PETALING JAYA: The worst seems to be over for the ringgit for now.

Market rally seen temporary

PETALING JAYA: The local stock market and the ringgit rallied to their best levels in weeks after Fitch Ratings upgraded its outlook on Malaysia’s government debt to “stable” from “negative”, but market observers warn that the relief may be temporary as concerns continue to loom.

UEM Sunrise bets on landed properties

NUSAJAYA: UEM Sunrise Bhd sees demand for landed residential properties in Iskandar Malaysia remaining good, as most prospective property buyers still prefer this type of properties.

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MRCB gets RM1bil Bukit Jalil stadium job

PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) is tipped to refurbish the various sports facilities at the National Sports Complex (NSC) in Bukit Jalil, including the 17-year-old Bukit Jalil Stadium, which is the main venue for sporting events in the country.

1 July 2015 | 12:00AM |

Stocks

Time dotCom surges on bumper dividends, KLCI up

KUALA LUMPUR: Blue chips extended their gains for the third day on Thursday, underpinned by local funds support after Fitch Ratings upgraded the Outlook for Malaysia’s sovereign, while Time dotcom surged after its bumper dividend.

2 July 2015 | 9:29AM |

Markets

How much does Greece owes to international creditors?

BRUSSELS: Greece, which is set to default on an International Monetary Fund debt repayment due on Tuesday, owes official lenders 242.8 billion euros ($172.03 billion pounds), according to a Reuters calculation based on official data.

1 July 2015 | 7:10AM |

Economy

Eden to incur loss on sale of Kuantan land

PETALING JAYA: Eden Inc Bhd’s proposed disposal of a 80.2-acre plot of vacant land in Kuantan will incur a net loss of RM454,000 for the company due to incidental costs to be incurred in connection with the proposed disposal.

2 July 2015 | 12:00AM |

Eden

Bumi Armada boosts allocation for FPSO operations

KUALA LUMPUR: Bumi Armada Bhd has revised how its rights issue’s gross proceeds of RM1.979bil will be utilised, raising the allocation for its floating production, storage and offloading (FPSO) and the new floating gas solutions (FGS) business units.

1 July 2015 | 8:28PM |

Corporate News

Time dotCom surges on bumper dividends, KLCI up

KUALA LUMPUR: Blue chips extended their gains for the third day on Thursday, underpinned by local funds support after Fitch Ratings upgraded the Outlook for Malaysia’s sovereign, while Time dotcom surged after its bumper dividend.

2 July 2015 | 9:29AM |

Markets

Cypark tweaks private placement plan due to market conditions

KUALA LUMPUR: Cypark Resources Bhd has revised its private placement plan in line with its falling share price. The proposed placement will now be made in tranches, with the issue price of the first tranche being set 10.7% lower than what the company had indicated back in February.

2 July 2015 | 12:36AM |

Corporate News

Keladi Maju names new MD

PETALING JAYA: Keladi Maju Bhd, a property developer controlled by Tan Sri Robert Tan Hua Choon, has appointed former IJM Corp Bhd chief executive officer Datuk Teh Kian Meng its managing director.

2 July 2015 | 12:00AM |

keladi Maju

May exports seen falling

KUALA LUMPUR: Malaysia’s May exports probably fell due to slow demand for liquefied natural gas and manufactured exports, a Reuters poll showed.

2 July 2015 | 12:00AM |

malaysian

TM rises from 7-month low after Fitch upgrade

PETALING JAYA: Shares of Telekom Malaysia Bhd (TM) climbed from a seven-month low after Fitch Ratings upgraded the telecommunications company’s debt outlook from negative to stable.

2 July 2015 | 12:00AM |

Fitch

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