Business

MRCB gets RM1bil Bukit Jalil stadium job

PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) is tipped to refurbish the various sports facilities at the National Sports Complex (NSC) in Bukit Jalil, including the 17-year-old Bukit Jalil Stadium, which is the main venue for sporting events in the country.

Ringgit strengthens after Fitch upgrades outlook

KUALA LUMPUR: The Malaysian stock market and the ringgit advanced in late Wednesday morning trade as investors turned upbeat after Fitch Ratings raised the outlook on Malaysia to Stable from Negative.

Fitch revises Outlook on Petronas to Stable

KUALA LUMPUR: Fitch Ratings has revised the Outlook on Petroliam Nasional Bhd's (Petronas) long-term foreign- and local-currency issuer default ratings (IDRs) to Stable from Negative.

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Market and ringgit rally on Fitch upgrade (Update)

KUALA LUMPUR: Malaysia’s equities market and the ringgit notched one of their best gains in a week after Fitch Ratings’ surprise announcement to raise the outlook on Malaysia’s currency ratings to Stable.

1 July 2015 | 5:48PM |

Markets

Tsipras offers conditional okay to bailout, creditors sceptical

BRUSSELS: Greek Prime Minister Alexis Tsipras has written to international creditors saying Greece could accept a bailout offer published on June 28 if several conditions were changed, but Germany said the letter had come too late and did not go far enough.

1 July 2015 | 6:11PM |

Economy

Stemlife appoints new CEO

KUALA LUMPUR: Stemlife Bhd has appointed Sophian Abdul Rahman as chief executive officer and Hoo Yee Fong as acting chief financial officer (CFO) effective July 1.

1 July 2015 | 6:46PM |

Corporate News

Wong: ‘There’s a substantial amount of foreign holdings on MGS.’

Analysts: Greece fallout unlikely to affect Malaysia, concern about ringgit

PETALING JAYA: The fallout from Greece’s possible exit from the European Union following its debt crisis is unlikely to have a contagion effect on the Malaysian economy for now. But the concern is more on Fitch’s credit rating of Malaysia that could impact the ringgit, which is seeing minimal effects from the Greece problem.

30 June 2015 | 12:00AM |

Stocks

How much does Greece owes to international creditors?

BRUSSELS: Greece, which is set to default on an International Monetary Fund debt repayment due on Tuesday, owes official lenders 242.8 billion euros ($172.03 billion pounds), according to a Reuters calculation based on official data.

1 July 2015 | 7:10AM |

Economy

Cypark tweaks private placement plan due to market conditions

KUALA LUMPUR: Cypark Resources Bhd has revised its private placement plan in line with its falling share price. The proposed placement will now be made in tranches, with the issue price of the first tranche being set 10.7% lower than what the company had indicated back in February.

2 July 2015 | 12:36AM |

Corporate News

IHH nears China venture

PETALING JAYA: IHH Healthcare Bhd is one step closer to opening its first hospital in China with a local partner after having obtained a 20-year business licence from the local authority in Shanghai.

2 July 2015 | 12:00AM |

IHH

Keladi Maju names new MD

PETALING JAYA: Keladi Maju Bhd, a property developer controlled by Tan Sri Robert Tan Hua Choon, has appointed former IJM Corp Bhd chief executive officer Datuk Teh Kian Meng its managing director.

2 July 2015 | 12:00AM |

keladi Maju

May exports seen falling

KUALA LUMPUR: Malaysia’s May exports probably fell due to slow demand for liquefied natural gas and manufactured exports, a Reuters poll showed.

2 July 2015 | 12:00AM |

malaysian

Market rally seen temporary

PETALING JAYA: The local stock market and the ringgit rallied to their best levels in weeks after Fitch Ratings upgraded its outlook on Malaysia’s government debt to “stable” from “negative”, but market observers warn that the relief may be temporary as concerns continue to loom.

2 July 2015 | 12:00AM |

market

TM rises from 7-month low after Fitch upgrade

PETALING JAYA: Shares of Telekom Malaysia Bhd (TM) climbed from a seven-month low after Fitch Ratings upgraded the telecommunications company’s debt outlook from negative to stable.

2 July 2015 | 12:00AM |

Fitch

Innity sees up to 30% growth in digital adex

PETALING JAYA: Innity Corp Bhd, an online media and advertising technology provider, expects its digital advertising expenditure (adex) to grow at an average of 20% to 30% year-on-year across the region.

2 July 2015 | 12:00AM |

Innity

Eden to incur loss on sale of Kuantan land

PETALING JAYA: Eden Inc Bhd’s proposed disposal of a 80.2-acre plot of vacant land in Kuantan will incur a net loss of RM454,000 for the company due to incidental costs to be incurred in connection with the proposed disposal.

2 July 2015 | 12:00AM |

Eden

UEM Sunrise bets on landed properties

NUSAJAYA: UEM Sunrise Bhd sees demand for landed residential properties in Iskandar Malaysia remaining good, as most prospective property buyers still prefer this type of properties.

2 July 2015 | 12:00AM |

UEM Sunrise

Kenanga sees Bumi Armada doubling earnings in two years

PETALING JAYA: Bumi Armada Bhd is expected to double its earnings in the next two years with the commencement some of its floating production, storage and offloading vessels (FPSOs) that are currently under conversion, according to Kenanga Research.

2 July 2015 | 12:00AM |

Bumi Armada

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