Business

Pricing issue: The Employees Provident Fund is concerned about the valuation Felda is paying, according to Bernama report in June.

FGV may ask for lower price for Eagle High stake

SINGAPORE: Felda Global Ventures Holdings Bhd (FGV), the world’s biggest crude palm oil producer, is considering seeking revised terms for its US$680mil deal to buy a stake in PT Eagle High Plantations, people with knowledge of the matter said.

On schedule: SM Faliq (left) briefing International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Malaysia External Trade Development Corp senior director of management services division Wan Latiff Wan Musa on the progress of Mitec.

Naza on track to deliver Mitec in Q2 2016

PETALING JAYA: The Malaysia International Trade and Exhibition Centre (Mitec) – the country’s largest exhibition space – is 80% completed as of now and will be on track to meet its delivery target to the Government in the second quarter of 2016.

TalentCorp turns Malaysia’s brain drain to brain gain

FOUR years ago when the Government was confronted with a difficult question of how could it reverse the brain drain into a brain gain, it decided to embark on two major initiatives. 

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Markets hit fresh turbulence, KLCI below 1600

KUALA LUMPUR: Malaysia’s stock market hit fresh turbulence early Wednesday, with the key FBM KLCI falling below the key 1,600 level after the overnight tumble on Wall Street and a fall in crude oil prices.

2 September 2015 | 9:53AM |

Markets

Petronas approves plan for Ophir oil field

PETALING JAYA: Petroliam Nasional Bhd (Petronas) has approved the revised field development plan (FDP) for the Ophir oil field located offshore Peninsular Malaysia after a cut in the cost of production by 30%.

2 September 2015 | 12:00AM |

Oil & Gas

Foxconn cancels investment plan in Indonesia

JAKARTA: Taiwan's Foxconn Technology Group, the world's biggest electronic components maker, has cancelled plans to invest in a factory in Indonesia, Kontan daily reported on Tuesday, citing the head of an Indonesian business chamber.

1 September 2015 | 1:54PM |

Corporate News

Oil retreats more than $5 on weak data

NEW YORK: Oil prices plummeted on Tuesday, settling 8 percent lower, as weak Chinese data extended a roller-coaster run that knocked oil to its lowest in 6-1/2 years last week before frenzied short-covering fueled a 25 percent three-session surge.

2 September 2015 | 8:10AM |

Markets

Trading ideas: LBS Bina, CCM, MWE, FGV

KUALA LUMPUR: JF Apex Research expects LBS Bina, Chemical Company of Malaysia (CCM) and MWE to see trading interest on Wednesday following the fresh corporate news amid the overnight tumble on Wall Street.

2 September 2015 | 9:10AM |

Analyst Reports

MoF courts defence services provider Destini

PETALING JAYA: The Government, through the Minister of Finance Inc (MoF Inc), is believed to have acquired a substantial stake in defence services provider and contractor Destini Bhd, a move that would raise the profile of the company.

1 September 2015 | 12:00AM |

Destini

Macau casino revenue plunges

HONG KONG: Gambling revenue in Macau dropped 35.5% in August from a year earlier, sliding for 15 months in a row – more evidence of a deepening downturn that prompted the territory’s government to announce it would tighten fiscal spending.

2 September 2015 | 12:00AM |

Foreign News

Bursa only market in positive zone in Asia

KUALA LUMPUR: Malaysia’s stock market was the only bourse in the positive zone at midday on Tuesday but the FBM KLCI was off its early high due to the profit taking by some funds and retailers.

1 September 2015 | 1:50PM |

Markets

China fears drive down stocks and oil

NEW YORK: World stock indexes and oil prices slumped on Tuesday as weak Chinese data fueled worries about a slowdown in its economy, the world's second biggest, and sparked more market turmoil.

2 September 2015 | 8:06AM |

Markets

Markets hit fresh turbulence, KLCI below 1600

KUALA LUMPUR: Malaysia’s stock market hit fresh turbulence early Wednesday, with the key FBM KLCI falling below the key 1,600 level after the overnight tumble on Wall Street and a fall in crude oil prices.

2 September 2015 | 9:53AM |

Markets

Trading ideas: LBS Bina, CCM, MWE, FGV

KUALA LUMPUR: JF Apex Research expects LBS Bina, Chemical Company of Malaysia (CCM) and MWE to see trading interest on Wednesday following the fresh corporate news amid the overnight tumble on Wall Street.

2 September 2015 | 9:10AM |

Analyst Reports

Oil retreats more than $5 on weak data

NEW YORK: Oil prices plummeted on Tuesday, settling 8 percent lower, as weak Chinese data extended a roller-coaster run that knocked oil to its lowest in 6-1/2 years last week before frenzied short-covering fueled a 25 percent three-session surge.

2 September 2015 | 8:10AM |

Markets

China fears drive down stocks and oil

NEW YORK: World stock indexes and oil prices slumped on Tuesday as weak Chinese data fueled worries about a slowdown in its economy, the world's second biggest, and sparked more market turmoil.

2 September 2015 | 8:06AM |

Markets

S&P lowers IOI Corp outlook to negative

PETALING JAYA: Standard & Poor’s Ratings Services (S&P) has revised its outlook on IOI Corp Bhd to negative from stable on concerns about the impact of the sharp fall in crude palm oil (CPO) prices on earnings and cashflow.

2 September 2015 | 12:00AM |

Investing

Petronas approves plan for Ophir oil field

PETALING JAYA: Petroliam Nasional Bhd (Petronas) has approved the revised field development plan (FDP) for the Ophir oil field located offshore Peninsular Malaysia after a cut in the cost of production by 30%.

2 September 2015 | 12:00AM |

Oil & Gas

MWE expanding textile operations

NIBONG TEBAL: MWE Holdings Bhd is investing US$7mil (RM29.3mil) to expand its textile business, which includes setting up a new plant in Vietnam.

2 September 2015 | 12:00AM |

Vietnam

Ho Hup plans to buy Kulai land

PETALING JAYA: Ho Hup Construction Co Bhd has proposed to acquire a 429-acre leasehold land in Kulai, Johor, for RM107.3mil via its unit, Intact Corporate Approach Sdn Bhd (ICA).

2 September 2015 | 12:00AM |

Construction

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