Business

Amin throws in towel, accepts TNB's offer for Integrax

PETALING JAYA: Less than a week after he alluded to making a voluntary general offer (VGO) for Integrax Bhd, Amin Halim Rasip has thrown in the towel to end a three-month battle for the port operator in Lumut.

Farid: Ringgit should trade at 3.30 to US dollar

SINGAPORE: The ringgit should be trading at 3.30 to the US dollar, if one were to take into account the country’s reserves and the difference between the spot forward rates, said Malayan Banking Bhd (Maybank) group president and chief executive officer Datuk Abdul Farid Alias. He said that liquidity flow, alongside greed and fear, had caused the ringgit to trade at the 3.70 level.

Tajuddin flanked by Bursa director of regulations Selvarany Rasiah (left) and director of corporate services Rosidah Baharom at Bursa Malaysia’s 38th AGM in Kuala Lumpur.

Bursa CEO: GST on services rendered only

KUALA LUMPUR: The 6% goods and services tax (GST) will not be imposed on securities, but only on the services rendered during a transaction, said Bursa Malaysia chief executive officer Datuk Tajuddin Atan.

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Oil jumps on smaller-than-feared US stock build

NEW YORK: Oil rallied on Wednesday for the first time in four days after weekly U.S. stock builds turned out to be less than some feared, and negotiators missed a deadline on Iranian nuclear talks that might bring more supply to the market.

2 April 2015 | 6:52AM |

Oil & Gas

Proton reduces car prices by up to 3.25% with GST implementation

KUALA LUMPUR: In light of the implementation of the Goods and Services Tax (GST) which comes into force today, Proton Holdings Bhd has announced the new prices for its models, with reduction of up to RM1,475, or 3.25%, per unit on selected variants.

1 April 2015 | 10:55AM |

Auto

Wong takes over from former group MD/CEO Anto Joseph.

Wong now helms Mudajaya

PETALING JAYA: Construction company Mudajaya Group Bhd’s chief operating officer (COO) James Wong has now stepped up as group managing director (MD) and chief executive officer (CEO) amidst an ongoing internal investigation into irregular transactions involving one of its projects.

2 April 2015 | 12:00AM |

Property

Car dealers can claim sales tax refund

PETALING JAYA: Local car companies can claim the 10% sales tax on unsold stock after the implementation of the goods and services tax (GST) – if they can produce documented proof of purchase.

1 April 2015 | 12:00AM |

Auto

Cash call imminent for MRCB ahead of Kwasa Land project

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) could likely undertake a cash call for its 70% stake in the special purpose vehicle (SPV) with Kwasa Land to undertake the development project in the Rubber Research Institute land in Sungai Buloh.

1 April 2015 | 1:42PM |

Analyst Reports

Media briefing by Vice Chairman, YBhg Tan Sri Dato Lodin Wok Kamarudin after the companys AGM

Challenging year for palm oil industry

PETALING JAYA: Boustead Plantations Bhd sees a “challenging” year ahead for the palm oil industry and that crude palm oil (CPO) prices could decline further in the second half of the year. Vice-chairman Tan Sri Lodin Wok Kamaruddin said the price was hovering around RM2,200 per tonne now.

2 April 2015 | 12:00AM |

Palm Oil

The world’s biggest containership MSC Oscar lands at the pier of a port in Wilhelmshaven, Germany. March saw the sharpest increase in new export orders in the eurozone since April 2014. — EPA

Eurozone manufacturing picks up on weak euro

LONDON: Manufacturing activity across the eurozone accelerated faster than previously thought last month, adding to signs the bloc’s economy is recovering, a business survey showed.

2 April 2015 | 12:00AM |

Economy

Indian firms mock gender diversity as boardroom deadline passes

NEW DELHI: Corporate India has made a mockery of an order to appoint women directors by recruiting wives, daughters and even stepmothers, analysts said on Wednesday as the deadline set by regulators for boosting gender diversity in the boardroom passed.

2 April 2015 | 6:56AM |

Stocks

An aerial view of Pusat Bandar Damansara. The nine office blocks will be built in an area that currently houses office buildings that used to have Government agencies such as the Immigration Department as tenants.

New benchmark; developer selling 9 blocks of office space

PETALING JAYA: There is no shortage of takers for one million sq ft of office space coming onstream in Pusat Bandar Damansara at prices that are setting a new benchmark in the area despite the soft demand for this category of property.

2 April 2015 | 12:00AM |

Property

Solid second quarter start for Euro stocks

LONDON: European stocks and the dollar made solid starts to the second quarter on Wednesday as signs of a recovery in the euro zone and expectations of more good U.S. news cheered investors after their blowout last few months.

2 April 2015 | 7:00AM |

Stocks

Indian firms mock gender diversity as boardroom deadline passes

NEW DELHI: Corporate India has made a mockery of an order to appoint women directors by recruiting wives, daughters and even stepmothers, analysts said on Wednesday as the deadline set by regulators for boosting gender diversity in the boardroom passed.

2 April 2015 | 6:56AM |

Stocks

Oil jumps on smaller-than-feared US stock build

NEW YORK: Oil rallied on Wednesday for the first time in four days after weekly U.S. stock builds turned out to be less than some feared, and negotiators missed a deadline on Iranian nuclear talks that might bring more supply to the market.

2 April 2015 | 6:52AM |

Oil & Gas

Tesla shares get late boost on April Fool's press release

NEW YORK: Shares of Tesla Motors Inc. jumped and trading volume surged in the final minutes of trading on Wednesday after the electric car maker issued a press release proclaiming the launch of a new product that turned out to be an April Fool's Day prank.

2 April 2015 | 6:40AM |

Auto

Recovery in Japan business mood stalls, capex to be cut

TOKYO: A key Japanese central bank business survey has shown that big companies plan to cut spending, clouding the outlook for Prime Minister Shinzo Abe’s drive to reflate the economy and spurring calls for more monetary stimulus.

2 April 2015 | 12:00AM |

Economy

DeNA aims high from pact with Nintendo

TOKYO: Japanese online game maker DeNA Co Ltd said it wants its new partnership with gaming giant Nintendo Co Ltd to yield titles that bring in over 3 billion yen (US$25.02mil) a month.

2 April 2015 | 12:00AM |

Stocks

The world’s biggest containership MSC Oscar lands at the pier of a port in Wilhelmshaven, Germany. March saw the sharpest increase in new export orders in the eurozone since April 2014. — EPA

Eurozone manufacturing picks up on weak euro

LONDON: Manufacturing activity across the eurozone accelerated faster than previously thought last month, adding to signs the bloc’s economy is recovering, a business survey showed.

2 April 2015 | 12:00AM |

Economy

US expects Congress to pass TPA bill soon

SINGAPORE: The United States expects the trade promotion authority (TPA) legislation, which is seen as an important step to speed free trade deals, will be passed by the Congress over the next month, a US official said.

2 April 2015 | 12:00AM |

trade

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