Business

Integrax: Game over

PETALING JAYA: Tenaga Nasional Bhd (TNB) has secured more than 50% acceptance for its takeover offer of port operator Integrax Bhd, effectively gaining control of the company in a corporate battle that had lasted close to three months.

MAI expects higher sales despite GST

SHAH ALAM: The Malaysia Automotive Institute (MAI) expects vehicle sales for the first six months of this year to be higher than 333,142 units recorded in the corresponding period last year despite concerns over the goods and services tax (GST) that will come into force tomorrow.

Strong turnout: About 5,600 shareholders and investors turned up at Public Bank Bhd’s 49th AGM in Kuala Lumpur yesterday. YAP CHEE HONG / Starpix

Public Bank: Succession plan ongoing

KUALA LUMPUR: Public Bank Bhd, the country’s second most expensive bank in terms of market value after Malayan Banking Bhd, is in no hurry to name younger candidates to its aging board. In the meantime, the bank will keep to markets where it already has a presence and focus on organic expansion to sustain future earnings growth.

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Malaysia Airlines to charge customers 6% GST

KUALA LUMPUR: Malaysia Airlines’ customers will be charged the 6% Goods & Services Tax (GST) on applicable goods and services supplied by the national carrier when it comes into effect on April 1.

30 March 2015 | 6:41PM |

Airlines

Gan: ‘We could potentially see more mergers and acquisitions.

Bankers remain positive on capital raising

PETALING JAYA: There is a silver lining in the investment banking business despite the weak capital market activities that could spur banks’ bottom line this year amid a challenging economic outlook.

30 March 2015 | 12:00AM |

investment

Construction works on MRT1 underground transport hub progressing smoothly. — Bernama

MRT2 works to start

PETALING JAYA: Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) is expected to start awarding contracts for the various packages of the RM23bil Mass Rapid Transit line 2 (MRT2) in the last quarter of this year.

30 March 2015 | 12:00AM |

MRT

Govt has no plan to peg ringgit

KUALA LUMPUR: The government has no plan to peg the ringgit against the US dollar to address its depreciation, Deputy Finance Minister Datuk Chua Tee Yong said.

30 March 2015 | 3:03PM |

Forex

Ringgit lower against dollar

KUALA LUMPUR: The ringgit opened lower against the US dollar as the greenback remain firm against major currencies, currency traders said.

30 March 2015 | 10:58AM |

Corporate News

Oil eases as big powers negotiate with Iran

LONDON: Oil prices slipped on Monday as officials from Iran and six world powers discussed a possible deal over Tehran's nuclear programme that could bring an end to sanctions and allow an increase in Iranian oil exports.

31 March 2015 | 6:51AM |

Oil & Gas

AmResearch maintains Hold on MISC

KUALA LUMPUR: AmResearch has maintained its Hold on MISC with a higher fair value of RM8.30 a share to account for the higher market value of the petroleum tankers and the inclusion of contributions from the five newbuild LNG carriers.

31 March 2015 | 9:36AM |

Analyst Reports

GST: Perodua dealers seek to reclaim sales tax

KUALA LUMPUR: While consumers will benefit from cheaper cars from Perodua with the implementation of the Goods and Services Tax on April 1, this has not gone down well with the dealers with unsold stocks.

30 March 2015 | 6:23PM |

Automotive

AmResearch maintains Hold on MISC

KUALA LUMPUR: AmResearch has maintained its Hold on MISC with a higher fair value of RM8.30 a share to account for the higher market value of the petroleum tankers and the inclusion of contributions from the five newbuild LNG carriers.

31 March 2015 | 9:36AM |

Analyst Reports

Oil eases as big powers negotiate with Iran

LONDON: Oil prices slipped on Monday as officials from Iran and six world powers discussed a possible deal over Tehran's nuclear programme that could bring an end to sanctions and allow an increase in Iranian oil exports.

31 March 2015 | 6:51AM |

Oil & Gas

Global stoclks surge, China at 7-year high

NEW YORK: The dollar gained and global equity markets surged on Monday on merger activity among drugmakers on both sides of the Atlantic, while Chinese stocks hit a seven-year high on a government plan to create a modern Silk Road trade route.

31 March 2015 | 6:42AM |

Stocks

Guangdong Rising makes lower bid for PanAust

SYDNEY: China’s Guangdong Rising Assets Management launched a fresh US$850mil bid to buy copper and gold miner PanAust Ltd, but priced its offer at a quarter less than 10 months ago, underscoring the rout in mineral commodities.

31 March 2015 | 12:00AM |

Stocks

Thailand to auction 4G spectrum in Nov and Dec

BANGKOK: Thailand’s telecoms regulator said on Monday it would auction high speed fourth-generation (4G) mobile spectrum at year-end, allowing telecom operators to expand lucrative data services to offset declining revenues from voice calls.

31 March 2015 | 12:00AM |

Telcos

Holcim sells Siam City Cement stake

ZURICH: Switzerland's Holcim said on Monday it had sold its 27.5% stake in Thailand's second-largest cement company Siam City Cement, in deals worth 655 million Swiss francs (US$681mil).

31 March 2015 | 12:00AM |

Holcim

Warburg seeks US$12bil private equity fund

NEW YORK: Private equity firm Warburg Pincus LLC has told investors it will seek to raise a new US$12bil global fund, just two years after amassing a US$11.2bil fund, sources said.

31 March 2015 | 12:00AM |

Warburg

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