Business

Amin throws in towel, accepts TNB's offer for Integrax

PETALING JAYA: Less than a week after he alluded to making a voluntary general offer (VGO) for Integrax Bhd, Amin Halim Rasip has thrown in the towel to end a three-month battle for the port operator in Lumut.

Farid: Ringgit should trade at 3.30 to US dollar

SINGAPORE: The ringgit should be trading at 3.30 to the US dollar, if one were to take into account the country’s reserves and the difference between the spot forward rates, said Malayan Banking Bhd (Maybank) group president and chief executive officer Datuk Abdul Farid Alias. He said that liquidity flow, alongside greed and fear, had caused the ringgit to trade at the 3.70 level.

Tajuddin flanked by Bursa director of regulations Selvarany Rasiah (left) and director of corporate services Rosidah Baharom at Bursa Malaysia’s 38th AGM in Kuala Lumpur.

Bursa CEO: GST on services rendered only

KUALA LUMPUR: The 6% goods and services tax (GST) will not be imposed on securities, but only on the services rendered during a transaction, said Bursa Malaysia chief executive officer Datuk Tajuddin Atan.

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Car dealers can claim sales tax refund

PETALING JAYA: Local car companies can claim the 10% sales tax on unsold stock after the implementation of the goods and services tax (GST) – if they can produce documented proof of purchase.

1 April 2015 | 12:00AM |

Auto

Foreign funds mop up blue chips

KUALA LUMPUR: BIMB Securities Research expects the inflow of foreign funds to boost the local bourse as it still maintains its 2015 target at 1,850 for now.

1 April 2015 | 9:56AM |

Karex slumps after reduced to Hold

KUALA LUMPUR: Karex Bhd’s share price hit a speed bump on Wednesday after a research house downgraded the condom maker from Add to Hold.

1 April 2015 | 11:33AM |

Markets

Integrax: Game over

PETALING JAYA: Tenaga Nasional Bhd (TNB) has secured more than 50% acceptance for its takeover offer of port operator Integrax Bhd, effectively gaining control of the company in a corporate battle that had lasted close to three months.

31 March 2015 | 12:00AM |

Stocks

Trading ideas: Takaso, Parkson, TA Enterprise

KUALA LUMPUR: JF Apex Research expects Takaso Resources, Parkson Holdings and TA Enterprise to be among the stocks which could attract trading interest on Wednesday following the fresh corporate news.

1 April 2015 | 9:57AM |

Boardroom changes at Tanjung Offshore

PETALING JAYA: Oil and gas services firm Tanjung Offshore Bhd saw several directorship changes, with Shahrizal Hisham Abdul Halim and Tan Wee Koh tendering their resignations, while Datuk Suraj Singh Gill and Datuk Syed Hussian Syed Junid were appointed to the board.

1 April 2015 | 12:00AM |

Oil & Gas

Proton reduces car prices by up to 3.25% with GST implementation

KUALA LUMPUR: In light of the implementation of the Goods and Services Tax (GST) which comes into force today, Proton Holdings Bhd has announced the new prices for its models, with reduction of up to RM1,475, or 3.25%, per unit on selected variants.

1 April 2015 | 10:55AM |

Auto

Higher fair value for Astro, DRB-HICOM 'buy', ECS ICT 'buy'

AMRESEARCH has maintained its “hold” call on Astro with a higher fair value of RM3.48 per share. Astro reported financial year ended Jan 31, 2015 (FY15) earnings of RM519.4mil that was within the research house’s expectations – constituting 103% of the house’s estimates and 101% of consensus’.

1 April 2015 | 12:00AM |

Analyst Reports

Cash call imminent for MRCB ahead of Kwasa Land project

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) could likely undertake a cash call for its 70% stake in the special purpose vehicle (SPV) with Kwasa Land to undertake the development project in the Rubber Research Institute land in Sungai Buloh.

1 April 2015 | 1:42PM |

Analyst Reports

Karex slumps after reduced to Hold

KUALA LUMPUR: Karex Bhd’s share price hit a speed bump on Wednesday after a research house downgraded the condom maker from Add to Hold.

1 April 2015 | 11:33AM |

Markets

New York court dismisses foreclosure lawsuit against HSBC

NEW YORK: A court in Buffalo, New York, dismissed a petition on Monday filed by New York state, alleging that HSBC Holdings Plc ignored a law designed to protect homeowners from being thrown into foreclosure without getting a chance to renegotiate their mortgages.

1 April 2015 | 10:59AM |

Banking

Proton reduces car prices by up to 3.25% with GST implementation

KUALA LUMPUR: In light of the implementation of the Goods and Services Tax (GST) which comes into force today, Proton Holdings Bhd has announced the new prices for its models, with reduction of up to RM1,475, or 3.25%, per unit on selected variants.

1 April 2015 | 10:55AM |

Auto

Trading ideas: Takaso, Parkson, TA Enterprise

KUALA LUMPUR: JF Apex Research expects Takaso Resources, Parkson Holdings and TA Enterprise to be among the stocks which could attract trading interest on Wednesday following the fresh corporate news.

1 April 2015 | 9:57AM |

Foreign funds mop up blue chips

KUALA LUMPUR: BIMB Securities Research expects the inflow of foreign funds to boost the local bourse as it still maintains its 2015 target at 1,850 for now.

1 April 2015 | 9:56AM |

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