Business

Rig rates tumble

PETALING JAYA: An oversupply and price war are pushing down drilling rig rates in the oil and gas (O&G) industry around the world, which could impact the earnings of some local players.

FGV’s plant in Pasir Gudang, Johor. Under the LLA, a hefty payment of about RM250mil per year has to be paid to Felda, which FGV has been paying on a quarterly basis.

FGV hit by land lease

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) posted its first net loss at RM9.33mil for the third quarter ended Sept 30 compared with a net profit of RM22.89mil in the same corresponding period a year ago.

Ooi (left) and Tey. They walked out of the EGM after a request to postpone the meeting was denied.

Most Protasco shareholders vote to remove Tey and Ooi

PETALING JAYA: Protasco Bhd’s shareholders have voted to remove two of its directors, namely Tey Por Yee and Ooi Kock Aun at an EGM.

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The MOL blame game

NASDAQ market-listed MOL Global Inc has set tongues wagging with the deferment of its earnings results and the resignation of its chief financial officer, triggering a blame game within the company.

29 November 2014 | 12:00AM |

Property

Prasarana is the midst of preparing for the operations of the Mass Rapid Transit Sungai Buloh-Kajang line.

Prasarana eyes RM55bil rail jobs in Saudi Arabia

STATE-OWNED public transport owner and operator Prasarana Malaysia Bhd is hoping to land some of Mecca’s estimated US$16.5bil (RM55.2bil) future rail projects following its recent foray into the city in Saudi Arabia.

29 November 2014 | 12:00AM |

Business News

Favelle Favco Bhds offshore cranes

Muhibbah: Investors’ reaction misguided

A MISPERCEPTION over the award of a project has cost Muhibbah Engineering Bhd dearly and also given management a big headache. The company’s shares have been sold down, wiping out some RM153mil from its market capitalisation in a week, while senior management of the company scrambled to meet investors and analysts to explain the situation.

29 November 2014 | 12:00AM |

Business News

Ibrahim is relying on Ahmad Zaki’s experience to lead this partnership and grow the franchise in Malaysia and Singapore.

No exact science in PE investments

DESPITE Ekuiti Nasional Bhd (Ekuinas) booking a loss from its investments in the Burger King franchise, the government-linked private equity fund management company says exiting the quick service restaurants (QSR) segment will help narrow its focus to its other profitable franchise businesses.

29 November 2014 | 12:00AM |

Business News

Petronas cuts capex

PETROLIAM Nasional Bhd’s (Petronas) announcement of its third-quarter results comes at a delicate time, considering that it is being watched by all and sundry.

29 November 2014 | 12:00AM |

Business News

Why investments fail

IN the world of investment, it is not uncommon to hear cases of investors suffering the loss of their entire capital, in what is perceived as a blink of an eye.

29 November 2014 | 12:00AM |

Business News

Prasarana is the midst of preparing for the operations of the Mass Rapid Transit Sungai Buloh-Kajang line.

Prasarana eyes RM55bil rail jobs in Saudi Arabia

STATE-OWNED public transport owner and operator Prasarana Malaysia Bhd is hoping to land some of Mecca’s estimated US$16.5bil (RM55.2bil) future rail projects following its recent foray into the city in Saudi Arabia.

29 November 2014 | 12:00AM |

Business News

The MOL blame game

NASDAQ market-listed MOL Global Inc has set tongues wagging with the deferment of its earnings results and the resignation of its chief financial officer, triggering a blame game within the company.

29 November 2014 | 12:00AM |

Property

Ibrahim is relying on Ahmad Zaki’s experience to lead this partnership and grow the franchise in Malaysia and Singapore.

No exact science in PE investments

DESPITE Ekuiti Nasional Bhd (Ekuinas) booking a loss from its investments in the Burger King franchise, the government-linked private equity fund management company says exiting the quick service restaurants (QSR) segment will help narrow its focus to its other profitable franchise businesses.

29 November 2014 | 12:00AM |

Business News

Loh: ‘The injection is in the form of cash and machinery.’

Tek Seng gets asset injection

Low-profile family business Tek Seng Holdings Bhd is hoping for a transformation of sorts even as its loss-making solar business is due to receive a shot in the arm from Taiwan-based Solartech Energy Corp (SEC) which will pump RM100mil worth of assets into the company.

29 November 2014 | 12:00AM |

Business News

Careplus meets headwinds head on

THE rubber glove industry is facing some headwinds as declining average selling prices crimp revenue and stiff competition compress margins, resulting in depressed earnings for some players in the industry.

29 November 2014 | 12:00AM |

Business News

Enter Kronologi Asia

We have barely seen the emergence of any new ACE Market listings this year, in keeping with the jaundiced perception of these companies of late.

29 November 2014 | 12:00AM |

Business News

Sunway going strong

KUALA LUMPUR: Sunway Group’s growth trajectory in the last 40 years has been remarkable, with six of its key segments now established in nine countries around the world.

29 November 2014 | 12:00AM |

Business News

Favelle Favco Bhds offshore cranes

Muhibbah: Investors’ reaction misguided

A MISPERCEPTION over the award of a project has cost Muhibbah Engineering Bhd dearly and also given management a big headache. The company’s shares have been sold down, wiping out some RM153mil from its market capitalisation in a week, while senior management of the company scrambled to meet investors and analysts to explain the situation.

29 November 2014 | 12:00AM |

Business News

MAS quarterly loss widens

KUALA LUMPUR: Malaysia Airlines (MAS), which will be delisted from the stock exchange by the end of the year for a complete overhaul, said losses widened to RM576.1mil for the three months ended Sept 30.

29 November 2014 | 12:00AM |

Business News

Sime: CPO price resilient

KUALA LUMPUR: Sime Darby Bhd expects crude palm oil (CPO) prices to trade between RM2,200 and RM2,500 a tonne up to June 2015, as the commodity is shifting into a low-crop season.

29 November 2014 | 12:00AM |

Business News

Strong upside potential seen for Mah Sing

PETALING JAYA: Mah Sing Group Bhd is known for its quick turnaround business model, tending to unlock the value of its land-bank quicker with an estimated project timeline of six to eight years, said Credit Suisse Securities Research.

29 November 2014 | 12:00AM |

Business News

Is settling the right choice?

IS regulatory settlement the Securities Commission (SC)’s enforcement tool of choice? Judging by the numbers, the answer is clearly yes.

29 November 2014 | 12:00AM |

Business News

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