Business

Maybank group Q1 earnings higher at RM1.7b (Update)

KUALA LUMPUR: Malayan Banking Bhd recorded higher earnings of RM1.7bil in the first quarter ended March 31, 2015 boosted by higher fee income.

Intel shifts Kulim ops to China and Vietnam, 600 let off

GEORGE TOWN: Chip-making leader Intel Corp is relocating some of its mature products to China and Vietnam from the facility in Kulim, and has started relieving some of the workers attached to them. Sources told StarBiz that the Kulim facility has for the past weeks let off about 600 workers involved in manufacturing

Moody's take on 1MDB

KUALA LUMPUR: There is a worry that Malaysia’s fiscal consolidation may be derailed should the Government be forced to assist 1Malaysia Development Bhd (1MDB) financially.

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1MDB’s Arul refutes Sarawak Report over BSI account

KUALA LUMPUR: 1MDB president and group executive director Arul Kanda Kandasamy has refuted an online blog Sarawak Report that he had allegedly provided false statement to Bank Negara Malaysia (BNM) that 1MDB had cash in a BSI account in Singapore.

28 May 2015 | 11:53AM |

Corporate News

1MDB audited assets worth RM51.4b

KUALA LUMPUR: The total worth of 1Malaysia Development Bhd (1MDB) audited assets for the financial year ended March 31, 2014 was RM51.4 billion, the Dewan Rakyat was told on Wednesday.

27 May 2015 | 4:09PM |

Business News

DRB-Hicom earnings at RM300m in FY15

KUALA LUMPUR: DRB-Hicom Bhd recorded lower earnings of RM300.28mil in the financial year ended March 31, 2015 – a decline of 35% from the RM462.17mil in FY14 due to the inclusion of exceptional items in the previous FY.

28 May 2015 | 7:13PM |

Corporate News

Nexgram in talks with 1MDB, eyeing last available land at TRX

KUALA LUMPUR: Nexgram Holdings Bhd is eyeing the last available acres of land at 1MDB’s Tun Razak Exchange. “Our managers and agents are in talks with 1MDB and have voiced our interest to participate in the development of the project,” its executive director Alan How Han Lun told reporters

27 May 2015 | 12:00AM |

Property

WCT to acquire land in Klang for RM118m

KUALA LUMPUR: WCT Holdings Bhd's subsidiary Gabungan Efektif Sdn Bhd has entered into a sales and purchase agreement (SPA) with Elite Asia Pacific Sdn Bhd to acquire three pieces of land worth RM118 million located in Klang, Selangor.

28 May 2015 | 6:53PM |

Business News

Jamal declines to be re-elected

KUALA LUMPUR: Icon Offshore Bhd chief executive officer Dr Jamal Yusof, who is assisting the Malaysian Anti-Corruption Commission (MACC) in investigations into the company’s affairs, has withdrawn his offer to be re-elected to the board of the oil and gas services provider.

28 May 2015 | 12:00AM |

Stocks

Magnum’s net profit rises 9.9%

KUALA LUMPUR: Magnum Bhd’s earnings rose 9.9% to RM90.76mil for the first quarter ended March 31, 2015 from RM82.53mil a year ago boosted by higher gaming profit.

28 May 2015 | 6:34PM |

Business News

Salcon's net profit falls more than half

KUALA LUMPUR: Salcon Bhd’s net profit for its first quarter ended March 31, 2015 fell more than half to RM7.60mil, from RM16.39mil on the back of lower revenue from its business segments and unrealised gain on foreign exchange.

28 May 2015 | 6:03PM |

Dutch Lady unveils new products

PETALING JAYA: Dutch Lady Milk Industries Bhd expects to maintain its revenue target of RM1bil for this year with the introduction of two new products, said managing director Saw Chooi Lee.

28 May 2015 | 12:00AM |

Stocks

Ewein banks on property for growth

GEORGE TOWN: Ewein Bhd, a leading company in the precision sheet metal fabrication industry, expects its property development business to be the main driver of the group’s growth in the near future.

28 May 2015 | 12:00AM |

Property

Genting Plantations first quarter earnings halved

KUALA LUMPUR: Genting Plantations Bhd’s Indonesian plantation segment held steady in the first quarter ended March 31 but a much lower performance by the Malaysia plantation business dragged down its overall profit.

28 May 2015 | 12:00AM |

Commodities

EU lawmakers back arbitration in US trade deal

BRUSSELS: European lawmakers supported on Thursday including investor arbitration in a free-trade deal with the United States, a breakthrough on one of the biggest obstacles to a transatlantic accord.

28 May 2015 | 11:18PM |

Economy

DRB-Hicom earnings at RM300m in FY15

KUALA LUMPUR: DRB-Hicom Bhd recorded lower earnings of RM300.28mil in the financial year ended March 31, 2015 – a decline of 35% from the RM462.17mil in FY14 due to the inclusion of exceptional items in the previous FY.

28 May 2015 | 7:13PM |

Corporate News

LDP and Sprint highway operator’s yearly profit rises slightly

KUALA LUMPUR: Lingkaran Trans Kota Holdings Bhd (Litrak), Gamuda’s 44.6% owned associate which operates the Damansara-Puchong Highway (LDP) and Sprint Highway, reported 11.1% drop in net profit year-on-year for the fourth quarter ended March 31 to RM33.1mil due to lower traffic volume during the festive period.

28 May 2015 | 7:12PM |

Corporate News

WCT to acquire land in Klang for RM118m

KUALA LUMPUR: WCT Holdings Bhd's subsidiary Gabungan Efektif Sdn Bhd has entered into a sales and purchase agreement (SPA) with Elite Asia Pacific Sdn Bhd to acquire three pieces of land worth RM118 million located in Klang, Selangor.

28 May 2015 | 6:53PM |

Business News

Magnum’s net profit rises 9.9%

KUALA LUMPUR: Magnum Bhd’s earnings rose 9.9% to RM90.76mil for the first quarter ended March 31, 2015 from RM82.53mil a year ago boosted by higher gaming profit.

28 May 2015 | 6:34PM |

Business News

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