Business

Differing views

PETALING JAYA: Two out of the four independent directors of REDtone International Bhd have rejected the takeover offer launched by Berjaya Corp Bhd (BCorp) for the telecommunications company, as they feel the offer price of 80 sen a share is too low.

RHB banking group deputy group managing director and RHB Bank managing director Datuk Khairussaleh Ramli

RHB Capital names Khairussaleh CEO and MD

PETALING JAYA: Banking and financial services group RHB Capital Bhd (RHBCap) has appointed Datuk Khairussaleh Ramli (pic) as chief executive officer and managing director with effect from May 5.

Azman says the current global economic environment would bring about a new challenging landscape.

TNB second-quarter earnings jump 25%

PETALING JAYA: Tenaga Nasional Bhd’s (TNB) net profit for the second quarter ended Feb 28, 2015, jumped 25% to RM2.16bil compared with the previous corresponding period, mainly due to improved electricity sales.

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KLCI under pressure, slips more than 5 points

KUALA LUMPUR: Selling pressure on the FBM KLCI stocks in early Tuesday trade sent the 30-stock index down more than five points, dragged down by plantations, Petronas Gas, Axiata and Genting Bhd.

28 April 2015 | 9:42AM |

Markets

US crude oil drops on expected stock build

SEOUL: US crude oil futures slipped on Tuesday as US commercial crude stocks were expected to rise for a 16th straight week, with comments from Saudi Arabia's oil minister also dragging on prices.

28 April 2015 | 9:26AM |

Oil & Gas

Pesona Metro buying another concession holder

PETALING JAYA: Construction firm Pesona Metro Holdings Bhd has further entrenched its position in the concession business by entering into a sale of shares agreement with Semarak Korporat Sdn Bhd (SKSB) to acquire a 90% equity stake in Selasih Asli Sdn Bhd (SASB) for RM60mil.

28 April 2015 | 12:00AM |

Pesona

KKB Engineering Q1 profit soars

PETALING JAYA: Civil engineering firm KKB Engineering Bhd’s net profit for the first quarter ended March 31, 2015 rose more than six-fold to RM26.7mil compared to the same period last year. According to a filing with Bursa Malaysia, the higher profit margin was due to the engineering and manufacturing sectors, especially from steel fabrication and steel pipes manufacturing divisions.

28 April 2015 | 12:00AM |

KKB

Maybank, DiGi, RHB Cap drag KLCI into the red

KUALA LUMPUR: Profit taking picked up pace in late trade on Monday with some selling pressure seen in Maybank, DiGi and RHB Capital while the broader market weaken despite the stronger ringgit.

27 April 2015 | 5:41PM |

Markets

Templeton fund ends reign in Asia as top picks falter

SINGAPORE: Templeton Asian Growth fund, managed by star stock picker Mark Mobius, ended its six-year reign as the biggest equity fund in Asia ex-Japan after suffering a second straight quarter of investor withdrawals and underperforming its benchmark.

28 April 2015 | 9:27AM |

Corporate News

Carimin to tie up with Mideast companies

PETALING JAYA: Oil and gas (O&G) services provider Carimin Petroleum Bhd has inked collaboration agreements with Makamin Offshore Saudi Ltd (MOS) and Petrol Allied International DMCEST (PAI) to jointly tender for oil and gas business activities in Saudi Arabia, the Middle East, South-East Asia and Australia.

28 April 2015 | 12:00AM |

Oil & Gas

MMHE optimistic about O&G outlook

PETALING JAYA: Oil and gas (O&G) services provider Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) recorded a 4% year-on-year (y-o-y) increase in net profit to RM36mil for the first quarter ended March 31, 2015 on contributions from repairing vessels, floating storage units (FSUs) and general cargo businesses.

28 April 2015 | 12:00AM |

Oil & Gas

Masteel 2014 financial results filing delayed

PETALING JAYA: Malaysia Steel Works (KL) Bhd (Masteel) is delaying the filing of its annual accounts as well as the auditors and directors’ report for the financial year ended Dec 31, 2014 (FY14).

28 April 2015 | 12:00AM |

masteel

Prasarana sets 15% target

KUALA LUMPUR: State-owned light rail transit (LRT) and KL Monorail operator Prasarana Malaysia Bhd will leverage on rail commuters to increase non-fare revenue to 15% by year-end.

28 April 2015 | 12:00AM |

Prasarana Negara Bhd

KLCI under pressure, slips more than 5 points

KUALA LUMPUR: Selling pressure on the FBM KLCI stocks in early Tuesday trade sent the 30-stock index down more than five points, dragged down by plantations, Petronas Gas, Axiata and Genting Bhd.

28 April 2015 | 9:42AM |

Markets

Templeton fund ends reign in Asia as top picks falter

SINGAPORE: Templeton Asian Growth fund, managed by star stock picker Mark Mobius, ended its six-year reign as the biggest equity fund in Asia ex-Japan after suffering a second straight quarter of investor withdrawals and underperforming its benchmark.

28 April 2015 | 9:27AM |

Corporate News

US crude oil drops on expected stock build

SEOUL: US crude oil futures slipped on Tuesday as US commercial crude stocks were expected to rise for a 16th straight week, with comments from Saudi Arabia's oil minister also dragging on prices.

28 April 2015 | 9:26AM |

Oil & Gas

CIMB Research retains Hold call on DiGi

KUALA LUMPUR: CIMB Equities Research is maintaining its Hold rating on DiGi as it believes the telco’s current valuations offer a fair risk-reward profile, given the possibility of more intense competition in FY15.

28 April 2015 | 8:40AM |

Analyst Reports

KLCI to maintain range bound trading

KUALA LUMPUR: BIMB Securities Research expects the FBM KLCI to be range bound and trade between 1,855 and 1,860 on Tuesday after the weak overnight close on Wall Street.

28 April 2015 | 8:27AM |

Markets

Euro perks up on Greek hopes, dollar dips

SYDNEY: The euro hovered just under a three-week peak early on Tuesday, having pushed higher overnight as the dollar came under broad pressure and on renewed hopes that cash-strapped Greece was a step closer to securing fresh funding.

28 April 2015 | 8:19AM |

Forex

United Plantations Q1 profit down

PETALING JAYA: United Plantations Bhd recorded a 30% drop in net profit for the first quarter ended March 31, 2015 to RM61.15mil compared to the previous corresponding quarter a year ago due to lower crude palm oil and lower palm kernel prices as well as higher costs of production incurred.

28 April 2015 | 12:00AM |

United Plantations

KKB Engineering Q1 profit soars

PETALING JAYA: Civil engineering firm KKB Engineering Bhd’s net profit for the first quarter ended March 31, 2015 rose more than six-fold to RM26.7mil compared to the same period last year. According to a filing with Bursa Malaysia, the higher profit margin was due to the engineering and manufacturing sectors, especially from steel fabrication and steel pipes manufacturing divisions.

28 April 2015 | 12:00AM |

KKB

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