Business

MISC Q2 earnings surge to RM745m (Update)

KUALA LUMPUR: MISC Bhd’s earnings surged to RM745.18mil in the second quarter ended June 30, 2015 boosted by higher revenue, mainly in the petroleum and offshore businesses.

Fraser & Neave Q3 earnings higher at nearly RM83m (Update)

KUALA LUMPUR: Fraser & Neave Holdings Bhd’s earnings rose 37.3% to RM82.95mil in the third ended June 30, 2015 as all its three operating units recorded stronger performance.

KLCI gives up all of Monday gains

KUALA LUMPUR: Blue chips closed sharply lower on Tuesday on profit taking of key stocks including Maxis, Axiata and Tenaga Nasional as the last-minute surge the previous day proved to be unsustainable.

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Pressure on ringgit remains unabated

PETALING JAYA: At RM3.85 to the US dollar, the selling pressure on the ringgit remains unabated on the back of two probable developments – first, the widely speculated put option that traders had gone into a few months ago offering RM4 for every US dollar.

4 August 2015 | 12:00AM |

Economy

Crude oil price in danger of another breakdown

KUALA LUMPUR: West Texas Intermediate traded on the New York Mercantile Exchange, also known as light sweet crude had a nice rebound recently, up from a six-year low of US$42.03 on March 18 to a high of US$62.58 on May 6 in the wake of renewed buying interest.

4 August 2015 | 12:08PM |

Oil & Gas

Yong Tai signs 5 MoUs involving 5 property projects with GDV of RM7bil

PETALING JAYA: Garment-maker-turned-property developer Yong Tai Bhd has entered into five separate memorandums of understanding (MoUs) to acquire land and businesses that can provide the company with five potential property development projects in the Klang Valley, Malacca and Johor. Yong Tai told Bursa the five projects were expected to carry a combined gross development value (GDV) of RM7bil over the next eight years.

4 August 2015 | 12:00AM |

Stocks

PMB Investment declares distributions for 3 funds

KUALA LUMPUR: PMB Investment Bhd has declared income distributions for its PMB Shariah Aggressive Fund (PMB SAF), PMB Shariah Wholesale Income Fund (PMB SWIF1) and PMB Shariah Cash Management Fund (PMB SCMF) for the financial year ended July 31, 2015.

4 August 2015 | 7:16PM |

Corporate News

Samsung glamour days over

SEOUL: For four years Samsung Electronics Co Ltd has basked in the success of its Galaxy smartphones, making billions of dollars competing with Apple Inc in the premium mobile market. But the coming years are set to be more sombre for the South Korean tech giant.

4 August 2015 | 3:00PM |

Business

'Outperform' call retained for AirAsia, CIMB 'hold'

AIRASIA announced its second quarter 2015 (ending Dec 31) preliminary operating statistics, with the group reporting an increase in traffic volume by 11.3% year-on-year (5.2% quarter-on-quarter) to 14.2 billion revenue-passenger-kilometres (RPK), although its year-on-year load factor was flat at 79%.

4 August 2015 | 12:00AM |

Analyst Reports

AirAsia inks deals with Thai, Indonesian units on payments

PETALING JAYA: In a move to enhance the disclosures in the services provided by AirAsia Bhd to its subsidiaries in Indonesia and Thailand, the low-cost carrier entered into an agreement that clearly spells out the terms between the parties, including the payments.

4 August 2015 | 12:00AM |

Airlines

Myth: You get what you pay for

EVER had someone tell you “you get what you pay for?” May be true in some circumstances; like when you pay RM40,000 for a Myvi, you don’t expect the performance of a RM300,000 BMW, do you?

3 August 2015 | 12:00AM |

Personal Finance

Areva to explore bringing in Chinese investor

PARIS: Areva will seek partnerships with Chinese energy companies that could see them take stakes in the French nuclear reactor maker in an upcoming multi-billion euro capital increase, its chairman told the Journal de Dimanche.

3 August 2015 | 12:00AM |

Stocks

Bursa raps and fines stockbroker

PETALING JAYA: Bursa Malaysia Securities Bhd has publicly reprimanded and fined stockbroker Hong Choe Hoar for engaging in manipulative dealings in Kanger International Bhd securities.

4 August 2015 | 12:00AM |

Stocks

Crude palm oil price slumps to 11-month low

JAKARTA: Malaysian palm oil futures hit an eleven-month low on Monday, as other vegetable oils traded lower and expectations of weak demand and higher output in the coming weeks weighed on prices.

4 August 2015 | 7:03AM |

Palm Oil

Wall St flat amid slew of earnings, Apple weighs

NEW YORK: Wall Street was little changed on Tuesday amid a burst of earnings reports from companies ranging from drugstore operator CVS Health to handbag maker Coach, while Apple’s shares remained under pressure for a second day.

4 August 2015 | 10:18PM |

Foreign News

PMB Investment declares distributions for 3 funds

KUALA LUMPUR: PMB Investment Bhd has declared income distributions for its PMB Shariah Aggressive Fund (PMB SAF), PMB Shariah Wholesale Income Fund (PMB SWIF1) and PMB Shariah Cash Management Fund (PMB SCMF) for the financial year ended July 31, 2015.

4 August 2015 | 7:16PM |

Corporate News

Samsung glamour days over

SEOUL: For four years Samsung Electronics Co Ltd has basked in the success of its Galaxy smartphones, making billions of dollars competing with Apple Inc in the premium mobile market. But the coming years are set to be more sombre for the South Korean tech giant.

4 August 2015 | 3:00PM |

Business

Bucking the global trend, South Koreans pile into gold

SEOUL: South Koreans are on course to buy a record amount of gold in 2015, worried that a meltdown in China's stock markets will destabilise South Korean equities and keen to replenish a traditional store of value in an era of low interest rates.

4 August 2015 | 2:45PM |

Business

India keeps interest rates unchanged

MUMBAI: India’s central bank kept its key interest rate on hold Tuesday as analysts had expected, resisting government pressure for a fourth cut of the year. The Reserve Bank of India (RBI) said the benchmark repo rate - the level at which it lends to commercial banks - would remain at 7.25%.

4 August 2015 | 2:33PM |

Business

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