Business

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.

Pengerang gets Platts’ nod

PETALING JAYA: The Pengerang oil terminal in Johor is expected to receive greater interest following its inclusion into oil agency Platts Singapore’s pricing assessments for middle distillates and gasoline.

MAI expects higher sales despite GST

SHAH ALAM: The Malaysia Automotive Institute (MAI) expects vehicle sales for the first six months of this year to be higher than 333,142 units recorded in the corresponding period last year despite concerns over the goods and services tax (GST) that will come into force tomorrow.

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Malaysia Airlines to charge customers 6% GST

KUALA LUMPUR: Malaysia Airlines’ customers will be charged the 6% Goods & Services Tax (GST) on applicable goods and services supplied by the national carrier when it comes into effect on April 1.

30 March 2015 | 6:41PM |

Airlines

Construction works on MRT1 underground transport hub progressing smoothly. — Bernama

MRT2 works to start

PETALING JAYA: Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) is expected to start awarding contracts for the various packages of the RM23bil Mass Rapid Transit line 2 (MRT2) in the last quarter of this year.

30 March 2015 | 12:00AM |

MRT

TA Enterprise posts Q4 net losses of RM33m

KUALA LUMPUR: TA Enterprise Holdings Bhd swung into the red with net losses of RM33.28mil in the fourth quarter ended Jan 31, 2015 due to foreign exchange losses realised after dissolving foreign subsidiaries and fair value loss on investment securities.

31 March 2015 | 7:21PM |

Corporate News

Amin to sell his Integrax shares to Tenaga

KUALA LUMPUR: Integrax Bhd’s second-largest shareholder Amin Halim Rasip has conceded defeat in his battle against Tenaga Nasional Bhd to secure a better price for his stake in the port operator.

31 March 2015 | 6:08PM |

Corporate News

Dollar edges higher, on track for best quarter since 2008

SINGAPORE: The dollar rose against a basket of currencies on Tuesday and was on track for its best quarter since 2008, bolstered by the diverging outlook for monetary policy in the United States compared to other major economies.

31 March 2015 | 1:52PM |

Banking

GST: Perodua dealers seek to reclaim sales tax

KUALA LUMPUR: While consumers will benefit from cheaper cars from Perodua with the implementation of the Goods and Services Tax on April 1, this has not gone down well with the dealers with unsold stocks.

30 March 2015 | 6:23PM |

Automotive

Higher on the day, ringgit leads

SINGAPORE: Emerging Asian currencies generally held firm on Tuesday but they have mostly fallen during March and in the first quarter as the dollar rose on expectations the U.S. Federal Reserve will raise interest rates later this year.

31 March 2015 | 4:04PM |

Forex

Southeast Asian borrowers wince as deflation looms

JAKARTA: Loans to businesses and households in Southeast Asia are growing at their slowest pace in five years, but the region's most indebted economies aren't becoming any less leveraged. Because of deflation, borrowers are at risk of shouldering heavier debt burdens.

1 April 2015 | 7:18AM |

Banking

Flight bans could affect AirAsiaX

Bangkok: Thai AirAsiaX could lose some 150,000 passengers this year if Japan does not allow it to begin flights to Sapporo from July 1, chief executive Nadda Buranasiri said.

1 April 2015 | 7:06AM |

Airlines

Oil extends losses on Iran talks; Brent ends March down 12%

NEW YORK: Oil fell for a third straight session on Tuesday, with Brent crude tumbling 12 percent for the month, as world powers entered into intense negotiations with Iran for a nuclear deal that could bring more of its oil to an oversupplied market.

1 April 2015 | 6:49AM |

Oil & Gas

Wall St. drops but S&P, Nasdaq register 9th straight quarterly gains

NEW YORK: U.S. stocks fell on Tuesday as energy and healthcare shares retreated, but the S&P 500 and Nasdaq registered their ninth straight quarterly advance. The S&P's 500 quarterly winning streak was its longest since 1998, while the Nasdaq's was its longest ever. The Dow registered a slight loss for the quarter.

1 April 2015 | 6:41AM |

Stocks

Parkson’s HK unit issues profit warning

PETALING JAYA: Retailer Parkson Holdings Bhd’s Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRGL) has issued a profit warning after losing a property dispute in Beijing for which the latter must cough up 140.4 million yuan (RM83.9mil).

1 April 2015 | 12:00AM |

Stocks

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.

1 April 2015 | 12:00AM |

Banking

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

New shareholder for Ingenco

PETALING JAYA: A new shareholder has emerged in ACE market-listed Ingenuity Consolidated Bhd (Ingenco) and he is said to take over as the company’s new managing director.

1 April 2015 | 12:00AM |

Stocks

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.

1 April 2015 | 12:00AM |

Taxation

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