Business

Stiffer penalties for telcos and broadcasting industries

PETALING JAYA: Companies in the telecommunications and broadcasting industries will be subjected to stiffer penalties that at the moment are described as measly by the minister in charge of ensuring the operators providing services toe the line.

IFCA MSC slumps after CFO resigns (Update)

KUALA LUMPUR: IFCA MSC warrants and shares fell to their lowest since mid-April, triggered by rising investor worries following the resignation of its chief financial officer without any news of a fresh appointment.

Shahril: ‘We will have 10 main packages compared to eight in the first line.’

RM10bil MRT tunnelling job, tender to start this week,

KUALA LUMPUR: The tunnelling job for mass rapid transit (MRT) line 2 is expected to be about RM10bil, the most expensive package of the RM28bil project.

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Market sentiment takes a hit as Tenaga slumps

KUALA LUMPUR: Malaysia’s blue chips index, the FBM KLCI, closed down more than 20 points on Monday as market sentiment took a hit on worries Tenaga Nasional may buy 1MDB’s power assets at lofty prices.

25 May 2015 | 5:17PM |

Market Wrap

IFCA MSC in the dark over share price fall

KUALA LUMPUR: Software and IT systems company IFCA MSC Bhd is not aware of any corporate development, rumour, report or any other possible reason for the sharp drop in its share price recently.

25 May 2015 | 7:07PM |

Technology

EPF i-Akaun usage increases 100%

KUALA LUMPUR: The usage of i-Akaun, an online facility to check Employees Provident Fund (EPF) savings, has increased to over 100% in the first quarter ended March 31.

25 May 2015 | 6:10PM |

Business News

Khazanah picks administrator for Malaysia Airlines

KUALA LUMPUR: Khazanah Nasional Bhd has appointed Datuk Mohammad Faiz Azmi as administrator for Malaysian Airline System Bhd (MAS) from Monday as it transitions to the new company Malaysia Airlines Bhd (MAB).

25 May 2015 | 9:54AM |

Airlines

Perodua gaining ground in coming out with first sedan

PULAU LANGKAWI: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is gaining significant ground in its bid to launch its first sedan. President and chief executive officer Datuk Aminar Rashid Salleh said the second national carmaker had reached the prototype stage and had even evaluated the platform, engine and transmission for the new model.

25 May 2015 | 12:00AM |

Automotive

E & O unit seeks listing in London

KUALA LUMPUR: Eastern & Oriental Bhd (E & O) is seeking to list an indirect unit on the London Stock Exchange (LSE) to support its expansion in the UK.

25 May 2015 | 6:35PM |

Property

Malaysian palm oil price higher as strong exports lift

KUALA LUMPUR: Malaysian palm oil futures ended higher on Monday after touching their lowest level this month, lifted by strong exports in the No.2 grower, but a delay to export levies in the world's top producer Indonesia mounted some pressure onto the contract.

26 May 2015 | 6:51AM |

Palm Oil

Business at the high end is grand for Trump

NEW YORK: Warning bells have sounded on the health of golf, from lower participation and course closures to environmental demands for reduced water use, but billionaire Donald Trump says business at the high end is grand.

26 May 2015 | 6:41AM |

Stocks

PUBLIC Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed speaks during a press conferences after he a meeting at Parliament today.AZHAR MAHFOF/The star (25/5/2019)

Auditors under scrutiny in 1MDB probe

PETALING JAYA: The auditors of 1Malaysia Development Bhd (1MDB) will now be the focus of the inquiry by the Public Accounts Committee (PAC) after two key witnesses asked for a delay to appear before the committee.

26 May 2015 | 12:00AM |

Stocks

TNB loses RM6bil in value over six days

PETALING JAYA: The mere speculation of purchasing the power assets under 1Malaysia Development Bhd (1MDB) had caused Tenaga Nasional Bhd (TNB) to lose some RM6bil in value over the last six trading days.

26 May 2015 | 12:00AM |

Stocks

E&O plans UK listing of indirect subsidiary

KUALA LUMPUR: Eastern & Oriental Bhd (E&O) intends to list its indirect wholly-owned subsidiary Eastern & Oriental Property (UK) Ltd (E&O UK) on the London Stock Exchange’s Alternative Investment Market.

26 May 2015 | 12:00AM |

Property

Malaysian stocks continue downtrend

PETALING JAYA: Bucking the trend of Asian markets that were generally on an uptrend, the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) continued its downtrend, as it shed another 20.12 points or 1.13% to close at 1,767.38 points yesterday on the back of rising political undercurrents in the market. While global investors were net purchasers of Asian equity last week, they continued to be net sellers of Malaysian equity.

26 May 2015 | 12:00AM |

Stocks

Audit firm may clear two Tanjung Offshore board members

KUALA LUMPUR: A forensic audit report on Tanjung Offshore Bhd to be released soon is expected to clear the company’s executive deputy chairman Tan Sri Tan Kean Soon and board member Muhammad Sabri Ab Ghani of any financial irregularities.

25 May 2015 | 10:57PM |

Oil & Gas

Profit of Boustead Holdings cut by half

KUALA LUMPUR: Buustead Holdings Bhd’s profit after tax for the first quarter ended March 31, 2015, was halved to RM43.1mil a year earlier as its plantation and finance divisions contributed much less.

25 May 2015 | 10:24PM |

Plantations

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