Business

1MDB addresses wide-ranging criticisms levelled at lt

PETALING JAYA: 1Malaysia Development Bhd (1MDB), which has come under fire from various quarters for a wide range of issues from buying assets at inflated prices to paying high fees in its issuance of debt papers, has defended its decisions.

Citroen Asean area manager Aswi Bujang (left) and Samson with the Citroen Grand C4 Picasso.

Naza opens 6th Citroen outlet

PUCHONG: Naza Euro Motors Sdn Bhd, the official distributor of the French brand Citroen, has expanded its network with the addition of Citroen Puchong, which now brings the total number of outlets nationwide to six.

Tey Por Yee

Tey seeks to remove Chong from Protasco

PETALING JAYA: Protasco Bhd’s non-executive director Tey Por Yee (pic) wants to remove managing director Datuk Seri Chong Ket Pen as a director of Protasco and is calling for an EGM for this purpose.

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1MDB has power plants (top right) which it acquired from Tanjong Plc and the Genting group in 2012. It has also been given the rights to develop the Tun Razak Exchange and Bandar Malaysia in Sungai Besi.

1MDB clears the air

1MDB, a strategic development company wholly-owned by the Government of Malaysia, clears the air in a press statement issued on Thursday, Oct 30:

30 October 2014 | 4:45PM |

Corporate News

1MDB incurs cost of RM8mil for Project 3B

PETALING JAYA: The consortium of 1Malaysia Development Bhd (1MDB) and Mitsui Co Ltd of Japan had paid less than RM8mil to assemble and submit its bid for the highly sought after Project 3B and not US$100mil (RM325mil) as speculated by a business daily.

31 October 2014 | 12:00AM |

1MDB

Chin Teck Q4 earnings up on higher sales of CPO

KUALA LUMPUR: Chin Teck Plantations Bhd posted net profit of RM11.2mil in the fourth quarter ended Aug 31, 2014 due to an improvement in the selling prices of crude palm oil and palm kernel and from its Indonesian operations.

31 October 2014 | 4:10PM |

Corporate News

Dollar surges as Fed ends QE on hawkish note

NEW YORK: The dollar surged to a three-week high and government bond yields rose on Thursday, one day after the U.S. Federal Reserve took a more hawkish tone in its assessment of the economy as it announced the end of its six-year bond-buying program.

31 October 2014 | 8:02AM |

Economy

Singapore’s DBS Q3 net profit beats forecast

SINGAPORE: DBS Group Holdings, Southeast Asia's biggest lender, posted a 17 percent rise in quarterly profit, helped by its highest net interest margin in nine quarters though loan growth slowed to its weakest pace since late 2012.

31 October 2014 | 8:19AM |

Banking

Tenaga, DiGi power up KLCI

KUALA LUMPUR: The FBM KLCI surged almost 13 points on Friday's close, powered by local fund buying of Tenaga Nasional and DiGi, in tandem with the Japan stocks rally and the month-end closing.

31 October 2014 | 5:23PM |

Markets

Chin Teck Q4 earnings up on higher sales of CPO

KUALA LUMPUR: Chin Teck Plantations Bhd posted net profit of RM11.2mil in the fourth quarter ended Aug 31, 2014 due to an improvement in the selling prices of crude palm oil and palm kernel and from its Indonesian operations.

31 October 2014 | 4:10PM |

Corporate News

Stratasys sees robust 3D-printing market as HP reveals plans

A day after Hewlett-Packard Co revealed plans for groundbreaking 3D printing technology, 3D-printing manufacturer Stratasys Ltd said it is expecting more competition and pointed to its strong position in a market expected to explode by the end of the decade.

31 October 2014 | 2:30PM |

Foreign News

BOJ unexpectedly eases monetary policy further

TOKYO: The Bank of Japan unexpectedly eased monetary policy on Friday in a 5-4 vote, due to concerns that a decline in oil prices would weigh on consumer prices and delay a shift in sentiment away from deflation.

31 October 2014 | 1:20PM |

Banking

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