Business

1MDB’s cash crunch

The next nine years are crucial for fund, as its obligations are estimated at some RM40bil

Allam: ‘My advisors told me not to do it because I wasn’t a football man, but I did it exactly for that reason.’

The ‘tiger’ of Hull City

Self-made tycoon Allam is used to fighting against great odds

Re-engineering Malaysia

Malaysian policymakers have only five years left to change the course of the nation and catapult the country’s economy into high-income status, while drastically improve the quality of life of all Malaysians to realise a sustainable society.

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Datuk Nur Jazlan Mohamed

Lower auditing standards seem to have been applied

PUBLIC Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed (pic) is a busy man. On Tuesday, the PAC launched an investigation into the dealings of 1Malaysia Development Bhd (1MDB) to get to the bottom of just what had happened to the cash-strapped strategic investment company.

23 May 2015 | 12:00AM |

1MDB

MRT Line 2 has only awarded MMC Corp Bhd and Gamuda Bhd as the project delivery partner of the second rail construction based on its track record for the MRT Line 1.

MRT Line 2 cost estimated at RM28bil

KUALA LUMPUR: The development cost for the second mass rapid transit line (MRT Line 2) is estimated to be at RM28bil, higher than the earlier RM23bil price tag, mainly due to its longer underground length.

22 May 2015 | 12:00AM |

Business News

Malaysian palm oil price at 3-week low on demand worries

KUALA LUMPUR: Malaysian palm oil futures fell on Friday and hit their lowest level in 3 weeks, snapping a two-week uptrend, on rising scepticism among investors about the sustainability of the robust export demand seen this month.

23 May 2015 | 7:03AM |

Palm Oil

Even Greece is a high-income nation

IN the research on high-income economies as defined by the World Bank, a startling fact came out. Among the countries that fall into this bracket is Greece, the country that could trigger the next global financial crisis if it defaults on its debts.

23 May 2015 | 12:00AM |

greece

Dealers compete at baccarat tables during the All Asia Dealers Championship at the Global Gaming Expo (G2E) inside the Venetian Macau resort and casino, operated by Sands China Ltd., a unit of Las Vegas Sands Corp., in Macau, China, on Tuesday, May 19, 2015. The gaming expo runs through May 21. Photographer: Billy H.C. Kwok/Bloomberg

Investment to herald casino resorts for Luster

PLASTICS manufacturer Luster Industries Bhd seeks to reap a decent two-digit return from its foray into the lottery business in Cambodia, its company officials say. The investment is also expected to be a springboard for its long-term plan to develop its own casinos and hotels in that country.

23 May 2015 | 12:00AM |

luster

Overall bearish sentiments

REVIEW: Taking the cue from a steadier US equities overnight, Bursa Malaysia kicked off the week marginally firmer, with the FBM Kuala Lumpur Composite Index (FBM KLCI) rising 1.6 points to 1,813.52, extending the previous session’s uptrend amid follow-through bargain hunting interest.

23 May 2015 | 12:00AM |

Market Trend

US Fed on track to hike rates as economic headwinds wane

PROVIDENCE, R.I.: Federal Reserve Chair Janet Yellen was clearer than ever on Friday that the central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned.

23 May 2015 | 6:50AM |

Economy

A year after Thai coup, stability trumps growth for business

BANGKOK: When Thailand's army seized power in a bloodless coup, much of the business establishment quietly cheered them on. A year on, the captains of Thai industry remain firmly behind the junta, despite a lacklustre economy and a delayed return to democracy.

23 May 2015 | 6:58AM |

Economy

Malaysian palm oil price at 3-week low on demand worries

KUALA LUMPUR: Malaysian palm oil futures fell on Friday and hit their lowest level in 3 weeks, snapping a two-week uptrend, on rising scepticism among investors about the sustainability of the robust export demand seen this month.

23 May 2015 | 7:03AM |

Palm Oil

A year after Thai coup, stability trumps growth for business

BANGKOK: When Thailand's army seized power in a bloodless coup, much of the business establishment quietly cheered them on. A year on, the captains of Thai industry remain firmly behind the junta, despite a lacklustre economy and a delayed return to democracy.

23 May 2015 | 6:58AM |

Economy

US Fed on track to hike rates as economic headwinds wane

PROVIDENCE, R.I.: Federal Reserve Chair Janet Yellen was clearer than ever on Friday that the central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned.

23 May 2015 | 6:50AM |

Economy

US stocks down after Fed comments fail to inspire

NEW YORK: U.S. stocks ended weaker on Friday after Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year, in line with Wall Street's expectations.

23 May 2015 | 6:46AM |

Stocks

Datuk Nur Jazlan Mohamed

Lower auditing standards seem to have been applied

PUBLIC Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed (pic) is a busy man. On Tuesday, the PAC launched an investigation into the dealings of 1Malaysia Development Bhd (1MDB) to get to the bottom of just what had happened to the cash-strapped strategic investment company.

23 May 2015 | 12:00AM |

1MDB

1MDB and SRC’s unique positions

AS far as being a Government-linked company goes, 1Malaysia Development Bhd (1MDB) and its former subsidiary, SRC International Sdn Bhd, are unique.

23 May 2015 | 12:00AM |

1mdb

Frothy valuations

INVESTORS who has put their money in the Hong Kong Stock Exchange (HKEx) saw it coming. But nobody knew what to do when the stocks that were trading at lofty valuations came crashing down.

23 May 2015 | 12:00AM |

haner goldin

Petronas confident of resolving Canadian issues

PETRONAS boss Datuk Wan Zulkiflee Wan Ariffin aims to sign a conditional final investment decision (FID) for its proposed multi-billion-ringgit liquefied natural gas (LNG) export terminal in Canada in the coming weeks.

23 May 2015 | 12:00AM |

petronas

Dealers compete at baccarat tables during the All Asia Dealers Championship at the Global Gaming Expo (G2E) inside the Venetian Macau resort and casino, operated by Sands China Ltd., a unit of Las Vegas Sands Corp., in Macau, China, on Tuesday, May 19, 2015. The gaming expo runs through May 21. Photographer: Billy H.C. Kwok/Bloomberg

Investment to herald casino resorts for Luster

PLASTICS manufacturer Luster Industries Bhd seeks to reap a decent two-digit return from its foray into the lottery business in Cambodia, its company officials say. The investment is also expected to be a springboard for its long-term plan to develop its own casinos and hotels in that country.

23 May 2015 | 12:00AM |

luster

Non-interest income boosts AMMB net earnings

PETALING JAYA: AMMB Holdings Bhd, the country’s fifth largest banking group by assets reported stronger net earnings on higher non-interest income and lower allowances.

23 May 2015 | 12:00AM |

AMMB

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