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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KLCI dips in early trade, KLK falls

KUALA LUMPUR: The FBM KLCI slipped in slightly volatile trade early Friday on some mild profit taking of index stocks including KL Kepong and UMW but market sentiment is expected to remain firm in line with key Asian markets and strong overnight close on Wall Street.

31 October 2014 | 9:51AM |

Corporate News

Tenaga surges ahead of earnings results

KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) share price rose to a high of RM10.32 in mid-morning trade on Friday, underpinned by investor confidence of strong earnings from the power giant when it releases its full-year results ended Aug 31, 2014 after market close.

31 October 2014 | 10:38AM |

Corporate News

Now that the easy money tap has been turned off, focus is on interest  rate hikes which may come next June, or in September or later but the volatility will probably arrive well before the actual hike. File photo is of the Bureau of Engraving and Printing in Washington DC, which shares responsibility for printing all of the paper Federal Reserve notes with a newer western facility that opened in Fort Worth, Texas - AFP Photo.

Good-bye bond buying, hello volatility

REUTERS: Saying QE is over is a bit like saying a flood is over when the water, up to your chin, stops rising. The Fed which, as expected, pulled the trigger on the final taper on Wednesday, still controls a balance sheet it plans to keep steady at US$4.5tril.

30 October 2014 | 10:40AM |

Foreign News

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

Tenaga surges ahead of earnings results

KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) share price rose to a high of RM10.32 in mid-morning trade on Friday, underpinned by investor confidence of strong earnings from the power giant when it releases its full-year results ended Aug 31, 2014 after market close.

31 October 2014 | 10:38AM |

Corporate News

KLCI dips in early trade, KLK falls

KUALA LUMPUR: The FBM KLCI slipped in slightly volatile trade early Friday on some mild profit taking of index stocks including KL Kepong and UMW but market sentiment is expected to remain firm in line with key Asian markets and strong overnight close on Wall Street.

31 October 2014 | 9:51AM |

Corporate News

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

Citigroup sets aside $600m more to cover legal costs

NEW YORK: Citigroup Inc said it was setting aside an extra $600 million to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries," while also disclosing that it was subject to foreign exchange market probes.

31 October 2014 | 8:15AM |

Banking

Japan consumer inflation slows, piling pressure on BOJ to act

TOKYO: Japan's annual core consumer inflation slowed for a second straight month in September, adding to evidence the Bank of Japan will miss its 2 percent price goal even as it dismisses growing doubts about the efficacy of its money-printing programme.

31 October 2014 | 8:11AM |

Banking

ANZ profit up on strong domestic, Asian performance

SYDNEY: Australia and New Zealand Banking Corp posted a 10 percent rise in full-year cash profit, its fifth straight year of record profit, helped by gains in its Asian operations and a strong performance at home.

31 October 2014 | 8:07AM |

Banking

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

Wall St up on GDP, earnings

NEW YORK: US stocks rose on Thursday, boosted by a strong reading on quarterly economic growth and by another round of upbeat earnings reports including Visa, which accounted for nearly 140 points in the Dow industrials.

31 October 2014 | 7:58AM |

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

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