Business

Rig rates tumble

PETALING JAYA: An oversupply and price war are pushing down drilling rig rates in the oil and gas (O&G) industry around the world, which could impact the earnings of some local players.

FGV’s plant in Pasir Gudang, Johor. Under the LLA, a hefty payment of about RM250mil per year has to be paid to Felda, which FGV has been paying on a quarterly basis.

FGV hit by land lease

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) posted its first net loss at RM9.33mil for the third quarter ended Sept 30 compared with a net profit of RM22.89mil in the same corresponding period a year ago.

Ooi (left) and Tey. They walked out of the EGM after a request to postpone the meeting was denied.

Most Protasco shareholders vote to remove Tey and Ooi

PETALING JAYA: Protasco Bhd’s shareholders have voted to remove two of its directors, namely Tey Por Yee and Ooi Kock Aun at an EGM.

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Oil price plunge rattles O&G stocks

KUALA LUMPUR: Oil and gas related stocks came under selling pressure at the midday break on Friday as the plunge in oil prices weighed on investor sentiment as the sector was downgraded by some analysts.

28 November 2014 | 1:33PM |

Markets

KLCI closes down 9 points as O&G shares hit

KUALA LUMPUR: Malaysia’s blue chips ended Friday -- the last trading day of November -- on a weak note as oil and gas counters took a hit from the plunge in crude oil prices which fell below four-year lows.

28 November 2014 | 5:24PM |

Markets

Oil and gas stocks under pressure as oil prices sink

KUALA LUMPUR: Malaysia’s FBM KLCI fell more than eight points in early Friday as market sentiment weaken following the selldown on oil and gas counters among the top losers as crude oil prices fell below US$60 per barrel.

28 November 2014 | 9:31AM |

Markets

Ultimatum for Malaysia Airlines unions

PETALING JAYA: The proposed law governing Malaysia Airlines Bhd (MAB), the new company that will take over Malaysian Airlines System Bhd (MAS), spells out clearly the terms that ensure unions and associations come to the negotiating table within a stipulated timeframe or risk losing out in any decision-making.

27 November 2014 | 12:00AM |

Stocks

E&O Q2 earnings up 29% to RM21m

KUALA LUMPUR: Property developer Eastern & Oriental Bhd saw its net profit climb 29% to RM21.24mil on higher revenue of RM77.29mil for the second quarter ended Sept 30, 2014.

28 November 2014 | 6:30PM |

Corporate News

KLCI closes down 9 points as O&G shares hit

KUALA LUMPUR: Malaysia’s blue chips ended Friday -- the last trading day of November -- on a weak note as oil and gas counters took a hit from the plunge in crude oil prices which fell below four-year lows.

28 November 2014 | 5:24PM |

Markets

MARC affirms Kuwait Finance House’s financial institution ratings

KUALA LUMPUR: Malaysian Rating Corp Bhd (MARC) has affirmed Kuwait Finance House (Malaysia) Bhd's (KFHMB) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 and concurrently affirmed the FI ratings of AAA/MARC-1 on its parent bank, Kuwait Finance House K.S C. (KFH).

28 November 2014 | 4:41PM |

Banking

Maybank launches GTSM in Taiwan, raises US$500m

KUALA LUMPUR: Malayan Banking Bhd launched an inaugural GreTai Securities Market (GTSM) listed transaction in Taiwan, which saw it raising US$500mil from professional institutional investors.

28 November 2014 | 4:35PM |

Banking

Oil price plunge rattles O&G stocks

KUALA LUMPUR: Oil and gas related stocks came under selling pressure at the midday break on Friday as the plunge in oil prices weighed on investor sentiment as the sector was downgraded by some analysts.

28 November 2014 | 1:33PM |

Markets

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