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

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

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

SMEs must have good financial management

KUALA LUMPUR: Small and medium-sized enterprises (SMEs) must demonstrate their capability to manage finances effectively to ensure easy access to financing to support their businesses, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz says.

28 May 2015 | 12:00AM |

Stocks

K-One Technology skids in heavy trade

KUALA LUMPUR: K-One Technology’s shares and warrants fell sharply in early Thursday trade after it posted sharply lower earnings in the first quarter ended March 31, 2015 on investor fears of weaker financial performance ahead.

28 May 2015 | 9:44AM |

Corporate News

MISC allocates US$1b for capex this year

KUALA LUMPUR: Shipping giant MISC Bhd has allocated US$1 billion for capital expenditure (capex) this year to primarily focus on the petroleum segment business, despite lower oil prices in the global market.

27 May 2015 | 6:18PM |

Business News

Probe on 1MDB's BSI account

KUALA LUMPUR: Bank Negara has handed over the investigative findings on 1Malaysia Development Bhd’s (1MDB) controversial investment in BSI Bank Ltd in Singapore to the relevant enforcement agencies.

27 May 2015 | 12:00AM |

Banking

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 |

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

LDP and Sprint highway operator’s yearly profit rises slightly

KUALA LUMPUR: Lingkaran Trans Kota Holdings Bhd (Litrak), Gamuda’s 44.6% owned associate which operates the Damansara-Puchong Highway (LDP) and Sprint Highway, reported 11.1% drop in net profit year-on-year for the fourth quarter ended March 31 to RM33.1mil due to lower traffic volume during the festive period.

28 May 2015 | 7:12PM |

Corporate News

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

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 |

CBIP net profit down 5.5%

KUALA LUMPUR: CB Industrial Product Holding Bhd’s (CBIP) net profit for the first quarter ended March 31, 2015 fell 5.5% to RM21.99mil, from RM23.28mil a year ago due to share of losses by the associates and joint venture.

28 May 2015 | 5:44PM |

Business News

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