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

Operations at the Kemaman plant had halted since August 2013 and the restarting of the operations here will bode well for Perwaja.

Perwaja, Kinsteel shares soar with plant revival plan

PETALING JAYA: Steelmaker Perwaja Holdings Bhd’s shares soared 50% or 8.5 sen to 25.5 sen yesterday after it formalised the agreement with China’s Zhiyuan Investment Group Co Ltd to revive its Kemaman Plant in Terengganu.

6 May 2015 | 12:00AM |

Stocks

Petronas seeks Canadian community support for project

PETALING JAYA: Petroliam Nasional Bhd (Petronas), which is leading a group that is developing a multi-billion-ringgit liquefied natural gas (LNG) export terminal in Canada, is offering C$1.15bil (RM3.43bil) in compensation to a aboriginal community, as it seeks to win local support for the proposed project.

6 May 2015 | 12:00AM |

Oil & Gas

AirAsia inks agreement benefitting 20 local universities

KUALA LUMPUR: AirAsia Bhd today signed a memorandum of agreement (MoA) with 20 local public universities to enable their 650,000 staff members and students to travel more affordably and conveniently under the AirAsia 'Waran Perjalanan Udara Awam'(WPUA) programme.

5 May 2015 | 3:24PM |

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 |

Tune Ins shares rise on proposed Indonesian acquisition

KUALA LUMPUR: Tune Ins Holdings Bhd shares traded in positive zone in the afternoon session after the company proposed to acquire a 50 per cent stake plus one share in Indonesian insurance provider, PT Asuransi Staco Mandiri (ASM) for 82.86 billion rupiah (RM22.79 million).

6 May 2015 | 4:20PM |

Corporate News

Oil market's bounce masks persistent risk in Malaysian debt

JAKARTA/KUALA LUMPUR: April was a good month for Malaysia's economy, one of the most deeply exposed to foreign debt in Asia, as a bounce in oil prices boosted foreign reserves and its currency rose the most in three years. But behind the good news lurks lingering danger.

6 May 2015 | 4:14PM |

Economy

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