Business

Auspicious moment: Quek (third from left) cutting the ribbon during the opening ceremony of Guoson Mall in Beijing in this file picture taken in 2011. The others are (from left) GuocoLand Ltd chairman Sat Pal Khattar, China’s Overseas Chinese Affairs Office director Li Haifeng, Dongcheng district party secretary Yang Liuyin and Guoco Group Ltd president and CEO Kwek Leng Hai

Quek’s great ‘escape’ from Beijing project

Last week, Guocoland Ltd, the property listed company of tycoon Tan Sri Quek Leng Chang disposed of its interest in an integrated property development project in Beijing for 10.5 billion yuan or RM6.8bil without realising the potential value of the asset.

Rajan: ‘The heart of the housing issue is what really constitutes an affordable price range and to which demographic this applies.’

The heart of housing issue is affordability

NATIONAL housing policies must change to reflect new realities and concerns. Today, the debate is shaped by concerns about housing affordability, particularly for the middle- and lower-middle-income group.

Petron station in Petaling Jaya, 2015.

Refiners gain from cheap oil

Petron Malaysia advances 10% amid volatility in energy sector.

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Fed says rate hike next month hinges on market volatility

JACKSON HOLE, Wyoming: The Federal Reserve on Friday left the door open to a September interest rate hike even while several U.S. central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay the first policy tightening in nearly a decade.

29 August 2015 | 9:23AM |

Banking

Higher income: EPF headquarters in Kuala Lumpur. Malaysia’s largest pension fund manager says that on a cumulative basis, its investment income totalled RM22.04bil for the first six months of 2015.

EPF investment income up

Lifted by higher returns from across its portfolio of assets, the Employees Provident Fund (EPF) saw its investment income grow 9.73% to RM11.41bil for the second quarter ended June 30, 2015, from RM10.4bil in the corresponding period last year.

29 August 2015 | 12:00AM |

EPF

Pressure on AirAsia’s earnings

AIRASIA Bhd shares have been on a roller coaster ride the past months, wiping off millions of ringgit in market capitalisation. The stock is now trading below RM1 at 87.5 sen a share and that has come as a surprise to many.

29 August 2015 | 12:00AM |

airasia

Going big on shrimps

PETALING JAYA: QL Resources Bhd is spending RM150mil in capital expenditure (capex) in these two years, and a big bulk of it is being used to grow its shrimp farming business.

28 August 2015 | 12:00AM |

ql resources

IHH to buy 73% stake in India hospital chain

PETALING JAYA: IHH Healthcare Bhd will be taking up a 73.4% stake in an India-based private hospital chain for 12.84 billion rupees (RM819mil) to expand its operations in the world’s second-most populous country.

29 August 2015 | 12:00AM |

IHH

Fed says rate hike next month hinges on market volatility

JACKSON HOLE, Wyoming: The Federal Reserve on Friday left the door open to a September interest rate hike even while several U.S. central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay the first policy tightening in nearly a decade.

29 August 2015 | 9:23AM |

Banking

Wild week for markets ends quietly

NEW YORK: A volatile ride for global markets this week ended calmly on Friday even as lingering worries over Chinese economic growth and the Federal Reserve's plans to raise interest rates weighed on stocks, but oil rebounded sharply for a second day.

29 August 2015 | 9:19AM |

Markets

Interview Andrew Stotz.
icon video

Stotz on global investments

Research analyst shares his view on how he looks at 7,500 firms across Asia and 22,000 in the world to screen for world-class companies.

29 August 2015 | 12:00AM |

Andrew Stotz

Higher income: EPF headquarters in Kuala Lumpur. Malaysia’s largest pension fund manager says that on a cumulative basis, its investment income totalled RM22.04bil for the first six months of 2015.

EPF investment income up

Lifted by higher returns from across its portfolio of assets, the Employees Provident Fund (EPF) saw its investment income grow 9.73% to RM11.41bil for the second quarter ended June 30, 2015, from RM10.4bil in the corresponding period last year.

29 August 2015 | 12:00AM |

EPF

IHH to buy 73% stake in India hospital chain

PETALING JAYA: IHH Healthcare Bhd will be taking up a 73.4% stake in an India-based private hospital chain for 12.84 billion rupees (RM819mil) to expand its operations in the world’s second-most populous country.

29 August 2015 | 12:00AM |

IHH

Private and confidential: Company directors should always be very mindful of who are present at their AGMs, as serious business discussions do take place.

AGM gatecrashers

A company’s AGM, is a routine yet important event for all shareholders. A statute such as Malaysia’s Companies Act provides that the company must hold an AGM every calendar year, and not more than 15 months after the last such meeting, whichever is earlier.

29 August 2015 | 12:00AM |

Shireen

Olam has the last laugh in fight against short sellers

JAPAN’S Mitsubishi Corporation will take up a 20% stake in Singapore’s Olam International Ltd, an agri-business operator for S$1.53bil (RM4.6bil) or S$2.75 per share, making it the second-largest shareholder in the firm after the city-state’s sovereign wealth fund Temasek Holdings.

29 August 2015 | 12:00AM |

olam

Pressure on AirAsia’s earnings

AIRASIA Bhd shares have been on a roller coaster ride the past months, wiping off millions of ringgit in market capitalisation. The stock is now trading below RM1 at 87.5 sen a share and that has come as a surprise to many.

29 August 2015 | 12:00AM |

airasia

CIMB posts RM639.75mil net profit in Q2

KUALA LUMPUR: CIMB Group Holdings Bhd reported a net profit of RM639.75mil in its second quarter ended June 30, 2015, a drop of 32.6% from RM949.94mil a year ago, due to higher loan loss provisions mainly from Indonesia.

29 August 2015 | 12:00AM |

CIMB

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