Business

Najib didn't take our money, insists 1MDB

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) insists that none of its funds went to Prime Minister Datuk Seri Najib Tun Abdul Razak.

Fernandes bullish on AirAsia X, but CIMB downgrades airline

PETALING JAYA: While Tan Sri Tony Fernandes remains bullish about the prospects of his loss-making AirAsia X Bhd (AAX), one research house downgraded its rating on the long-haul, low-cost airline, giving it a target price of a mere 17 sen. CIMB Research said its downgrade rating from “hold” to “reduce” was on the back of a more challenging outlook and continuing drain on AAX’s cash.

Early groundwork: Liew says Eco World had been building up its customer base and momentum before launching its projects.

Eco World to unveil three London projects

LONDON: Eco World Investment Co Ltd, a private vehicle controlled by Tan Sri Liew Kee Sin, has set a target to launch its three London property projects within the next two years now that “the major approvals” are in place. The three projects – London City Island, Embassy Gardens and Wardian London – have a total gross development value (GDV) of £2.257bil (RM13.33bil).Most units are expected to be snapped up before launches

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KETUA Pegawai Eksekutif Malaysia Airlines, Christoph Mueller bercakap pada sidang akhbar pengenalan terbaru MAS di Malaysian Airlines Building Southern Support Zone,KLIA di sini, hari ini.

Mueller unveils a flat MAS structure

PETALING JAYA: Malaysia Airlines Bhd unveiled a structure that is flat and having several new faces at the apex management team. Christoph Mueller, the current Malaysia Airlines (MAS) chief executive officer and CEO designate of the new airline has broken the operations of the loss-making airline into eight divisions.

3 July 2015 | 12:00AM |

Airlines

China stocks tumble 6% as govt launches probe

SHANGHAI: Chinese shares tumbled more than 6% on Friday, after the country's securities market regulator said it had opened an investigation into suspected market manipulation as Beijing struggles to head off a full-blown crash that could damage an already slowing economy.

3 July 2015 | 10:54AM |

Corporate News

JAKS Resources to make a material announcement

KUALA LUMPUR: JAKS Resources Bhd, whose share price has risen over 17% over the last week, has requested for the trading of its shares to be suspended with effect from 9.00am on Monday, July 6, pending a material announcement.

3 July 2015 | 6:03PM |

Corporate News

TUN MAHATHIR _ PROTON

Doctor in the house

Proton Holdings Bhd chairman Tun Dr Mahathir Mohamad speaks candidly about the national automaker’s product quality and the direction ahead for the auto company.

4 July 2015 | 12:00AM |

Automotive

Trim and fit: CIMB’s move to cut down on regional investment baning teams and MSS are designed to bring down cost.

CIMB to see full recovery in quarter 4?

CIMB Holdings Group Bhd will need at least two more quarters before benefits from its T18 initiatives which emphasise on cost-cutting and key business areas, are reflected on its balance sheet.

4 July 2015 | 12:00AM |

CIMB

The short position . . .

ONE of the key personalities in the corporate saga involving Lysaght Galvanized Steel Bhd has declared that there is no family tussle going on in the company.

4 July 2015 | 12:00AM |

Lysaght

Cheah: ‘You cannot invest in China like you’re investing in the West. The policies are different here. I’m talking about it as someone who’s close to China.’

The art of investment

CHEAH places high importance on learning. He always seeks to reinvent himself by trying to master and learn new things. Having carved out a name for himself in the area of investment, Cheah shares some of his investment philosophies. He concedes that he does not know everything but have suggestions.

4 July 2015 | 12:00AM |

Datuk Cheah Cheng Hye

HB Global shareholders flex their muscles

NEW developments appear to be taking place in China-based frozen food manufacturer HB Global Ltd, the Chinese company previously known as Sozo Global Ltd.

4 July 2015 | 12:00AM |

HB

Flying higher: Since 2013, SAM Engineering had transited from being a semiconductor-dominant business to one that now derives close to 70 of its revenues from the aerospace industry. It produces components for plane manufacturers such as Boing and Airbus.

Play it again, SAM

THE growth in dividends being paid out by Sam Engineering & Equipment (M) Bhd (SAM Engineering), one of the few component manufacturers for the airline industry, has attracted increasing interest by investors locally and abroad.

4 July 2015 | 12:00AM |

SAM

Greek PM defends vote, demands 30% debt haircut

ATHENS: Greece’s Prime Minister Alexis Tsipras on Friday defended a weekend referendum he hopes will reset bailout negotiations and demanded creditors forgive a third of the country’s debt and allow delayed repayments for the rest.

3 July 2015 | 10:39PM |

Foreign News

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