Business

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.

Probe on 1MDB's BSI account

KUALA LUMPUR: Bank Negara has handed over the investigative findings on 1Malaysia Development Bhd’s (1MDB) controversial investment in BSI Bank Ltd in Singapore to the relevant enforcement agencies.

Kwasa Land launches another 2 projects for Bumiputera category

KUALA LUMPUR: Kwasa Land Sdn Bhd has launched another two residential projects for selected pre-qualified Bumiputera developers.

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TNB loses RM6bil in value over six days

PETALING JAYA: The mere speculation of purchasing the power assets under 1Malaysia Development Bhd (1MDB) had caused Tenaga Nasional Bhd (TNB) to lose some RM6bil in value over the last six trading days.

26 May 2015 | 12:00AM |

Stocks

PUBLIC Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed speaks during a press conferences after he a meeting at Parliament today.AZHAR MAHFOF/The star (25/5/2019)

Auditors under scrutiny in 1MDB probe

PETALING JAYA: The auditors of 1Malaysia Development Bhd (1MDB) will now be the focus of the inquiry by the Public Accounts Committee (PAC) after two key witnesses asked for a delay to appear before the committee.

26 May 2015 | 12:00AM |

Stocks

Puzzling delay of PAC letter to 1MDB

PETALING JAYA: 1Malaysia Development Bhd (1MDB) revealed it only received the letter from the Public Accounts Committee (PAC) asking its current and former top executives to attend an inquiry into the affairs of 1MDB more than two weeks after it was mailed to the Finance Ministry (MOF).

27 May 2015 | 12:00AM |

Stocks

Malakoff records higher profits in Q1

KUALA LUMPUR: Malakoff Corp Bhd’s profit before tax for the first quarter ended March 31, 2015 surged 294% to RM175.5mil from RM44.6mil a year ago and expects the current financial to be better.

27 May 2015 | 6:34PM |

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

Analysts upbeat on Star’s digital story

PETALING JAYA: Star Media Group Bhd is expected to weather the challenges facing the media industry with the company’s efforts to grow revenue from its integrated print, online, events and broadcast platforms, analysts said.

27 May 2015 | 12:00AM |

Stocks

Malaysian palm oil price ends lower on selling pressure

KUALA LUMPUR: Malaysian palm oil futures ended lower on Wednesday as the contract succumbed to selling pressure in late afternoon trade, reversing gains stemming from a weak ringgit which had lifted the tropcial oil to a near two-week high.

28 May 2015 | 6:46AM |

Palm Oil

Equity markets rise, euro ticks up, Nasdaq at record

NEW YORK: Equities markets rose on Wednesday, lead by gains in European stocks, and the euro edged up on signs, later dismissed, that Greece and its creditors were drafting an agreement that would provide Athens much-needed debt relief.

28 May 2015 | 6:40AM |

Stocks

World soccer rocked by US, Swiss arrests of officials for graft

ZURICH/NEW YORK: The world's most popular sport was plunged into turmoil on Wednesday as seven senior soccer officials were arrested on U.S. corruption charges and faced extradition from Switzerland, whose authorities also announced a criminal investigation into the awarding of the next two World Cups.

28 May 2015 | 6:36AM |

Business News

Petronas to end gasoil storage at Tanjung Langsat

SINGAPORE: Petroleum Nasional Bhd (Petronas) is not planning to renew its lease to store gasoil at Tanjung Langsat Terminal (One) in Johor, southern Malaysia, once its contract ends in late May, industry sources close to the matter said.

28 May 2015 | 12:00AM |

Oil & Gas

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.

28 May 2015 | 12:00AM |

Stocks

Limited upside: A significant increase in near-term CPO price will be limited due to higher inventory level resulting from the seasonal high crop production.

Weak CPO price dents earnings

PETALING JAYA: The weaker price of crude palm oil (CPO) is making a huge dent on timber companies’ earnings. WTK Holdings Bhd, Jaya Tiasa Holdings Bhd and Ta Ann Holdings Bhd reported sharp falls in net profits for the quarter ended March 31, 2015 on lower contributions from their plantation divisions.

28 May 2015 | 12:00AM |

Commodities

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

UOA expects steady property demand

KUALA LUMPUR: UOA Development Bhd, which had sold RM146mil worth of properties so far this year, expects demand to be steady despite concerns about the goods and services tax (GST) and strict lending rules by banks.

28 May 2015 | 12:00AM |

Property

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

KLK buying German company for RM162mil

KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) is acquiring Emery Oleochemicals GmbH’s oleochemicals assets and business in Düsseldorf, Germany for 40.5 million euros (RM162mil) cash.

28 May 2015 | 12:00AM |

Stocks

Question time: MISC Bhd chairman Datuk Ab Halim Mohyiddin (right) and Yee at a press conference after the MISC AGM.

RM3.6bil for capex

KUALA LUMPUR: Shipping giant MISC Bhd has allocated US$1bil (RM3.62bil) for capital expenditure (capex) this year to primarily focus on the petroleum segment business, despite lower oil prices in the global market. MISC to focus on petroleum segment despite low oil prices

28 May 2015 | 12:00AM |

Oil & Gas

Felda Global Ventures shares plunge to new low

PETALING JAYA: Shares in Felda Global Ventures Holdings Bhd (FGV) plunged to a new low following rating cuts by analysts after the company posted its worst-ever quarterly results since its listing in 2012. The weaker selling price of crude palm oil (CPO), which is down 4% year-to-date, contributed to the company’s depressed earnings outlook.

28 May 2015 | 12:00AM |

Palm Oil

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