Business

Mokhzani and Yeow to keep stakes in SapuraKencana

PETALING JAYA: Tan Sri Mokhzani Mahathir and close associate Yeow Kheng Chew, better known as KC, have no plans to sell their combined stake of 9.12% in oil and gas (O&G) giant SapuraKencana Petroleum Bhd (SapKen) following their resignations from the board of the company. “We have no plans to sell,” Mokhzani told StarBiz.

From left: Ong, Lim and Leong at the briefing. Leong says the group plans to open 11 cinemas.

PPB sets aside RM535mil for capex

KUALA LUMPUR: PPB Group Bhd will spend RM535mil on capital expenditure (capex) over the next two to three years, focusing on expanding the Golden Screen Cinemas (GSC) chain, according to chief financial officer Leong Choy Ying.Most of the investment will go towards expanding the GSC chain

Slowdown in Klang Valley landed residential market expected

KUALA LUMPUR: The Klang Valley market for landed residential is expected to experience a slowdown in 2015.

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Brahim’s shares suspended

KUALA LUMPUR: Trading in the shares of in-flight caterer Brahim’s Holdings Bhd has been suspended with effect from 10.12am on Friday.

6 March 2015 | 11:36AM |

Corporate News

1MDB sheds light, explains RM2bil debt,eyes listing

PETALING JAYA: Government-owned strategic fund 1Malaysia Development Bhd (1MDB) has shed light on its highly-debated RM2bil loan taken by its subsidiary and asserted that it will resubmit its application to list its power arm.

5 March 2015 | 12:00AM |

Stocks

Brent climbs near $61 on Mideast supply concerns

SINGAPORE: Brent crude rose to trade near $61 a barrel on Friday as geopolitical tensions in Libya and Iraq stoked supply worries, while traders eyed U.S. rig counts and the outcome of Iran nuclear talks for further trading cues.

6 March 2015 | 4:38PM |

Oil & Gas

Mokhzani Mahathir and Yeow resign from SapKen

PETALING JAYA: Tan Sri Mokhzani Mahathir and close associate Yeow Kheng Chew have resigned from the board of oil and gas giant SapuraKencana Petroleum Bhd, almost a year after they relinquished their executive position in the company.

5 March 2015 | 12:00AM |

Stocks

Kam will continue to carry out his responsibilities until May 4.

RHBCap identifies new managing director

KUALA LUMPUR: RHB Capital Bhd (RHBCap) has identified a successor and will seek Bank Negara’s approval for the person to helm the fourth largest financial institution by assets following the resignation of current group managing director Kellee Kam.

6 March 2015 | 12:00AM |

Banking

CIMB, SKPetro main drags on KLCI

KUALA LUMPUR: Losses by CIMB and SapuraKencana Petroleum were the main drags on the FBM KLCI on Thursday as market sentiment took a hit from the weak key regional bourses while the ringgit continued to lose ground against the US dollar.

5 March 2015 | 5:29PM |

Markets

Listing of Edra Global still possible

KUALA LUMPUR: Despite encountering setbacks, the listing of 1Malaysia Development Bhd’s (1MDB) power arm, Edra Global Energy Bhd, is still possible as long as the company meets the criteria to float its shares, the Securities Commission (SC) said.

6 March 2015 | 12:00AM |

Stocks

Philippines' poverty rate rises to nearly 26%

MANILA: The percentage of people in the Philippines classified as poor rose to 25.8 percent in the first half of 2014 mainly because of a rapid increase in food prices and the effects of a super typhoon, the government said on Friday.

6 March 2015 | 5:14PM |

Economy

Brent climbs near $61 on Mideast supply concerns

SINGAPORE: Brent crude rose to trade near $61 a barrel on Friday as geopolitical tensions in Libya and Iraq stoked supply worries, while traders eyed U.S. rig counts and the outcome of Iran nuclear talks for further trading cues.

6 March 2015 | 4:38PM |

Oil & Gas

Crude palm oil prices to be better in first half of 2015

KUALA LUMPUR: Crude palm oil (CPO) price is likely to be better in the first half of 2015 (H1 CY15) due to the tight CPO supply, but for the second half of the year, this will hinge on biodiesel demand from Malaysia and Indonesia, says UOB Kay Hian Malaysia Research.

6 March 2015 | 3:26PM |

Plantations

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