Business

MBSB-Muamalat merger, full-fledged Islamic bank on the cards?

PETALING JAYA: Malaysia Building Society Bhd (MBSB), one of the non-conventional banks in the local financial industry, is on track to obtaining a full-fledged Islamic banking licence with plans under way for a merger with Bank Muamalat.

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TA hangs on to brokerage

KUALA LUMPUR: TA Enterprise Bhd does not intend to let go of the lucrative brokerage business. Managing director and chief executive officer Datin Alicia Tiah said the business provided a steady flow of income.

Datasonic counts on card division

CYBERJAYA: Datasonic Group Bhd’s card manufacturing division could be turning around as the company aims to triple its payment card production to 10 million this year. The surge in volume is in line with Bank Negara’s push for contactless debit cards under the payment cards reform that started early this year.

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MoF sells entire interest in Bursa Malaysia to KWAP

KUALA LUMPUR: Minister of Finance Inc (MoF Inc), the second largest shareholder in Bursa Malaysia Bhd, has disposed of its entire 16.12% stake in the securities and commodity exchange operator to Retirement Fund Inc (KWAP) effective July 29.

29 July 2015 | 9:49PM |

Corporate News

Oil prices fall in longest decline in a year

LONDON: Oil prices fell on Wednesday, in their longest string of daily losses in a year as worsening global oversupply offset the potential lift from a weaker dollar and an expected drop in US crude stocks.

30 July 2015 | 11:27AM |

Business News

Mustapa: Keep open mind on Trans-Pacific plan

PETALING JAYA: International Trade and Industry Minister Datuk Seri Mustapa Mohamed has urged all Malaysians to keep an open mind on the Trans-Pacific Partnership Agreement (TPPA).

30 July 2015 | 12:00AM |

Economy

MoF sells stake in Bursa to KWAP retirement fund

PETALING JAYA: The Minister of Finance Inc (MoF Inc), the second largest shareholder in Bursa Malaysia Bhd, has disposed of its entire 16.12% stake in the securities and commodity exchange operator to Retirement Fund Inc (KWAP) effective July 29.

30 July 2015 | 12:00AM |

Stocks

Sunway Construction slips below offer price (Update)

KUALA LUMPUR: Sunway Construction’s share price closed below the offer price of RM1.20 on Wednesday -- the second day after its trading debut on the Main Market -- due to cautious mood on Bursa Malaysia which had been impacted by foreign selling pressure.

29 July 2015 | 10:09AM |

Corporate News

Malaysia sends team to see if Reunion debris is from MH370 flight

UNITED NATIONS: Malaysia said on Wednesday it has sent a team to Reunion Island off the east coast of Africa to determine whether washed-up debris may be from the missing Malaysia Airlines Flight MH370 that is believed to have crashed in the Indian Ocean last year.

30 July 2015 | 6:57AM |

Airlines

Malaysian palm oil price hits new 3-month lows

JAKARTA: Malaysian palm oil futures hit fresh 3-month lows on Wednesday, reversing a brief respite in a sixth-straight day of declines during morning trading, as concerns over export demand outlook for the edible oil triggered prices to fall further.

30 July 2015 | 7:05AM |

Palm Oil

Singapore Exchange Q4 profit up 24%

SINGAPORE: Singapore Exchange Ltd (SGX) reported a 24% rise in its quarterly net profit to the highest in two years and said it would focus on tackling the weak environment for new listings of companies.

30 July 2015 | 11:32AM |

Business News

Oil prices fall in longest decline in a year

LONDON: Oil prices fell on Wednesday, in their longest string of daily losses in a year as worsening global oversupply offset the potential lift from a weaker dollar and an expected drop in US crude stocks.

30 July 2015 | 11:27AM |

Business News

No exciting catalysts for IGB REIT

KUALA LUMPUR: CIMB Equities Research does not see much exciting catalysts for IGB REIT and maintained its target price at RM1.41, which is 9% above the last traded price of RM1.29.

30 July 2015 | 9:48AM |

Analyst Reports

Malaysian palm oil price hits new 3-month lows

JAKARTA: Malaysian palm oil futures hit fresh 3-month lows on Wednesday, reversing a brief respite in a sixth-straight day of declines during morning trading, as concerns over export demand outlook for the edible oil triggered prices to fall further.

30 July 2015 | 7:05AM |

Palm Oil

Russia vetoes bid to set up tribunal for downed flight MH17

UNITED NATIONS: Russia vetoed a United Nations Security Council draft resolution on Wednesday that would have set up an international tribunal to prosecute those suspected of downing a Malaysia Airlines passenger airliner last year in eastern Ukraine.

30 July 2015 | 7:01AM |

Airlines

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