Business

Maybank posts higher Q2 earnings, div 24 sen

KUALA LUMPUR: Malayan Banking Bhd (Maybank) posted slightly higher earnings of RM1.584bil in the second quarter ended June 30, 2015.

China's richest man says time for govt to abandon high growth rate "fantasy"

BEIJING: China's richest man said on Thursday the government needs to give up any "fantasy" of maintaining high economic growth rates, unusually bold comments at a time when Beijing is grappling to contain a market meltdown that has hammered global equities.

Central banks of Malaysia, Thailand set up local currencies framework

KUALA LUMPUR: Bank Negara Malaysia (BNM) and Bank of Thailand (BOT) plan to set up a framework to promote the settlement of bilateral trade and direct investment in their local currencies.

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Banks lead KLCI rebound past key 1,600

KUALA LUMPUR: Banks, Maxis and Tenaga powered the FBM KLCI past the key 1,600 level on Thursday, entrenching the index’s third straight days of gains as investor sentiment perked in tandem with key Asian markets.

27 August 2015 | 6:25PM |

Forex

DRB-Hicom posts nearly RM20m net loss as auto sales slump

KUALA LUMPUR: DRB-Hicom Bhd registered a net loss of RM19.7mil for the first quarter ended June 30, 2015, compared with a net profit of RM107.8mil a year ago, due to lower sales of motor vehicles by its automotive division and sees a very challenging year.

27 August 2015 | 6:53PM |

Corporate News

Foreign selling to hold back Malaysian market

KUALA LUMPUR: The relentless selling of Malaysian equities by foreign funds will hold back the FBM KLCI’s advance and BIMB Securities Research expects the market to remain negative in the short to medium term.

27 August 2015 | 8:40AM |

Analyst Reports

1MDB denies IPIC accord is off

PETALING JAYA: 1Malaysia Development Bhd (1MDB) has denied a news report from Singapore, citing an unnamed source, that Abu Dhabi’s International Petroleum Investment Co (IPIC) is considering pulling out of a plan to help restructure its debts.

27 August 2015 | 12:00AM |

Property

Lower target price for Sime Darby

KUALA LUMPUR: While most analysts have maintained their calls on Sime Darby Bhd, they have lowered their target price for the plantation giant following the release of its latest results for FY ended June 30, 2015 (FY15).

27 August 2015 | 7:19PM |

Analyst Reports

Malakoff boosts MMC Corp earnings

KUALA LUMPUR: MMC Corporation Bhd saw its earnings surge to RM1.35bil in the second quarter ended June 30, 2015 – boosted by an exceptional gain from the re-listing of independent power producer Malakoff Bhd in May.

26 August 2015 | 7:12PM |

Corporate News

Naza TTDI plans RM440m project

PETALING JAYA: Naza TTDI Sdn Bhd is targeting to launch a residential project in Kwasa Damansara by the end of next year.

27 August 2015 | 12:00AM |

Property

Silverlake shares hit, falls to 46 cents after trading resumes

PETALING JAYA: Shares in Singapore-listed Silverlake Axis Ltd tumbled 17.5 Singapore cents to 46 Singapore cents, the company’s lowest since February 2013, after a two-day trading halt as investors remained concerned over allegations made by an anonymous report released last Thursday.

27 August 2015 | 12:00AM |

Stocks

Lower target price for Sime Darby

KUALA LUMPUR: While most analysts have maintained their calls on Sime Darby Bhd, they have lowered their target price for the plantation giant following the release of its latest results for FY ended June 30, 2015 (FY15).

27 August 2015 | 7:19PM |

Analyst Reports

DRB-Hicom posts nearly RM20m net loss as auto sales slump

KUALA LUMPUR: DRB-Hicom Bhd registered a net loss of RM19.7mil for the first quarter ended June 30, 2015, compared with a net profit of RM107.8mil a year ago, due to lower sales of motor vehicles by its automotive division and sees a very challenging year.

27 August 2015 | 6:53PM |

Corporate News

Banks lead KLCI rebound past key 1,600

KUALA LUMPUR: Banks, Maxis and Tenaga powered the FBM KLCI past the key 1,600 level on Thursday, entrenching the index’s third straight days of gains as investor sentiment perked in tandem with key Asian markets.

27 August 2015 | 6:25PM |

Forex

Toshiba to tap Shiseido adviser as new head of board

TOKYO: Toshiba Corp is set to pick Shiseido Co adviser Shinzo Maeda to head its new board to improve corporate governance in the wake of a massive accounting scandal, two people familiar with the plan said on Thursday.

27 August 2015 | 2:05PM |

Business

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