Business

Nissan Q1 op profit jumps 58% on strong US sales, weak yen

YOKOHAMA, Japan: Japan's Nissan Motor Co said on Wednesday first-quarter operating profit soared 58 percent, lifted by strong vehicle sales in every region except Japan as well as a weak yen, boosting the value of earnings overseas.

KL update: Fossick and Lau at the press conference on KL Office Outlook market update.

KL fringe to face office space glut

KUALA LUMPUR: The fringe area of Kuala Lumpur is expected to face an office space glut by 2017, said JLL Malaysia country head Y.Y. Lau.

Mustapa urges Malaysians to keep open mind on TPPA

KUALA LUMPUR: The Minister of International Trade and Industry (MITI) has urged all Malaysians to keep an open mind on the Trans Pacific Partnership Agreement (TPPA).

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Nur Jazlan resigns from posts in public-listed firms

KUALA LUMPUR: Datuk Nur Jazlan Mohamed, who has been appointed Deputy Home Minister, has resigned from posts in several public-listed companies effective Wednesday, including Astral Supreme Bhd, Asia Bioenergy Technologies Bhd (AsiaBio), TSH Resources Bhd and Ekowood International Bhd.

29 July 2015 | 6:55PM |

Corporate News

Islamic bank licence: Ahmad Zaini Othman had said that a corporate exercise was inevitable for the financial institution in an increasingly competitive landscape.

MBSB-Muamalat merger, full-fledged Islamic bank on the cards?

PETALING JAYA: Malaysia Building Society Bhd (MBSB), one of the non-conventional banks in the local financial industry, is on track to obtaining a full-fledged Islamic banking licence with plans under way for a merger with Bank Muamalat. Sources said the plans were being crafted as part of MBSB’s vision to obtain a full-fledged Islamic banking licence.

30 July 2015 | 12:00AM |

Stocks

Invest Malaysia 2015(Day 2).Minister of International Trade & Industry Datuk Sri Mustapa Mohamed.

Mustapa: Keep open mind on Trans-Pacific plan

PETALING JAYA: International Trade and Industry Minister Datuk Seri Mustapa Mohamed has urged all Malaysians to keep an open mind on the Trans-Pacific Partnership Agreement (TPPA).

30 July 2015 | 12:00AM |

Economy

Sunway Construction slips below offer price (Update)

KUALA LUMPUR: Sunway Construction’s share price closed below the offer price of RM1.20 on Wednesday -- the second day after its trading debut on the Main Market -- due to cautious mood on Bursa Malaysia which had been impacted by foreign selling pressure.

29 July 2015 | 10:09AM |

Corporate News

Malaysian palm oil price hits new 3-month lows

JAKARTA: Malaysian palm oil futures hit fresh 3-month lows on Wednesday, reversing a brief respite in a sixth-straight day of declines during morning trading, as concerns over export demand outlook for the edible oil triggered prices to fall further.

30 July 2015 | 7:05AM |

Palm Oil

Malaysia sends team to see if Reunion debris is from MH370 flight

UNITED NATIONS: Malaysia said on Wednesday it has sent a team to Reunion Island off the east coast of Africa to determine whether washed-up debris may be from the missing Malaysia Airlines Flight MH370 that is believed to have crashed in the Indian Ocean last year.

30 July 2015 | 6:57AM |

Airlines

MoF sells entire interest in Bursa Malaysia to KWAP

KUALA LUMPUR: Minister of Finance Inc (MoF Inc), the second largest shareholder in Bursa Malaysia Bhd, has disposed of its entire 16.12% stake in the securities and commodity exchange operator to Retirement Fund Inc (KWAP) effective July 29.

29 July 2015 | 9:49PM |

Corporate News

KLCI ends below 1,700 on late selling

KUALA LUMPUR: Late selling of key stocks pushed the FBM KLCI further below the critical 1,700 level with Tenaga Nasional, Sime Darby and CIMB among the main drags on the index.

29 July 2015 | 5:57PM |

Markets

Russia vetoes bid to set up tribunal for downed flight MH17

UNITED NATIONS: Russia vetoed a United Nations Security Council draft resolution on Wednesday that would have set up an international tribunal to prosecute those suspected of downing a Malaysia Airlines passenger airliner last year in eastern Ukraine.

30 July 2015 | 7:01AM |

Airlines

Sentiments remain

PETALING JAYA: Stocks on Bursa Malaysia led losses in Asia outside China, bogged down by fresh domestic political worries amid a still weak market sentiment

29 July 2015 | 12:00AM |

Stocks

Malaysian palm oil price hits new 3-month lows

JAKARTA: Malaysian palm oil futures hit fresh 3-month lows on Wednesday, reversing a brief respite in a sixth-straight day of declines during morning trading, as concerns over export demand outlook for the edible oil triggered prices to fall further.

30 July 2015 | 7:05AM |

Palm Oil

Russia vetoes bid to set up tribunal for downed flight MH17

UNITED NATIONS: Russia vetoed a United Nations Security Council draft resolution on Wednesday that would have set up an international tribunal to prosecute those suspected of downing a Malaysia Airlines passenger airliner last year in eastern Ukraine.

30 July 2015 | 7:01AM |

Airlines

Malaysia sends team to see if Reunion debris is from MH370 flight

UNITED NATIONS: Malaysia said on Wednesday it has sent a team to Reunion Island off the east coast of Africa to determine whether washed-up debris may be from the missing Malaysia Airlines Flight MH370 that is believed to have crashed in the Indian Ocean last year.

30 July 2015 | 6:57AM |

Airlines

Global stocks, dollar gain as US Fed sees improving economy

NEW YORK: Global equity markets rose on Wednesday, lifted by strong U.S. and European corporate earnings and a Federal Reserve statement that said the U.S. economy continues to strengthen, adding to expectations an interest rate hike is getting closer.

30 July 2015 | 6:46AM |

Stocks

Toshiba scandal puts focus on Japan's cut-price company audits

HONG KONG: Toshiba Corp's years-long practice of inflating its profits has raised questions among accounting experts about whether low fees paid by Japan-listed companies to their auditors mean they do not spend enough time scrutinizing company accounts.

30 July 2015 | 6:42AM |

Stocks

Tourism boom drives Japan to convert offices into hotels

TOKYO: Record tourists to Japan are stretching the ability of hotels to accommodate them in a sector constrained by high costs, forcing developers to think out of the box for means to quickly increase lodging options without breaking the bank.

30 July 2015 | 6:39AM |

Economy

Facebook profit falls 9% as costs soar

NEW YORK: Facebook Inc said quarterly revenue beat forecasts but profit fell 9 percent at the social media company on heavy spending to boost mobile revenue and future growth.

30 July 2015 | 6:36AM |

Stocks

Islamic bank licence: Ahmad Zaini Othman had said that a corporate exercise was inevitable for the financial institution in an increasingly competitive landscape.

MBSB-Muamalat merger, full-fledged Islamic bank on the cards?

PETALING JAYA: Malaysia Building Society Bhd (MBSB), one of the non-conventional banks in the local financial industry, is on track to obtaining a full-fledged Islamic banking licence with plans under way for a merger with Bank Muamalat. Sources said the plans were being crafted as part of MBSB’s vision to obtain a full-fledged Islamic banking licence.

30 July 2015 | 12:00AM |

Stocks

South Korea's Hu-Chems to invest RM3.8bil in Bintulu plant

PETALING JAYA: South Korea-based Hu-Chems Fine Chemicals Corp is investing US$1bil (RM3.8bil) to build a manufacturing plant for chemical products in Bintulu, Sarawak. The company, which is a subsidiary of Taekwang Industry Group, said the plant would be built on a 330,000 sq m site and produce up to 600,000 tonnes of ammonia, 400,000 tonnes of nitric acid, and 200,000 tonnes of ammonium nitrate a year.

30 July 2015 | 12:00AM |

Hu-Chems

Plan to stabilise commodity prices

PUTRAJAYA: The Plantation Industries and Commodities Ministry will discuss strategies with the private sector and interest groups to stabilise commodity prices.

30 July 2015 | 12:00AM |

Commodities

Invest Malaysia 2015(Day 2).Minister of International Trade & Industry Datuk Sri Mustapa Mohamed.

Mustapa: Keep open mind on Trans-Pacific plan

PETALING JAYA: International Trade and Industry Minister Datuk Seri Mustapa Mohamed has urged all Malaysians to keep an open mind on the Trans-Pacific Partnership Agreement (TPPA).

30 July 2015 | 12:00AM |

Economy

MoF sells stake in Bursa to KWAP retirement fund

PETALING JAYA: The Minister of Finance Inc (MoF Inc), the second largest shareholder in Bursa Malaysia Bhd, has disposed of its entire 16.12% stake in the securities and commodity exchange operator to Retirement Fund Inc (KWAP) effective July 29.

30 July 2015 | 12:00AM |

Stocks

TA Securities Holdings Bhd head of research Kaladher Govindan at a press briefing after TA Enterprise Bhds 25th AGM and TA Global Bhds 7th AGM.

TA hangs on to brokerage

KUALA LUMPUR: TA Enterprise Bhd does not intend to let go of the lucrative brokerage business. Managing director and chief executive officer Datin Alicia Tiah said the business provided a steady flow of income.

30 July 2015 | 12:00AM |

Stocks

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