Business

Ultimatum for Malaysia Airlines unions

PETALING JAYA: The proposed law governing Malaysia Airlines Bhd (MAB), the new company that will take over Malaysian Airlines System Bhd (MAS), spells out clearly the terms that ensure unions and associations come to the negotiating table within a stipulated timeframe or risk losing out in any decision-making.

Khazanah is looking to re-negotiate MAS’ contracts with the employees and suppliers, as well as reducing the workforce by some 6,000 people.

Full immunity for Malaysia Airlines administrator

PETALING JAYA: The administrator of Malaysia Airlines (MAS) will have full immunity when exercising its power in running the operations of the national carrier.

Ooi (left) and Tey speaking to the media.

Drama at Protasco EGM, new twist in boardroom tussle

KUALA LUMPUR: It was supposed to be D-Day for Protasco Bhd shareholders as they were to vote on removing company directors at an EGM.

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Kuwait Finance House CEO resigns

PETALING JAYA: Datuk Seri Abdul Hamidy Abdul Hafiz, the chief executive officer (CEO) of Kuwait Finance House (M) Bhd (KFH), has tendered his resignation.

27 November 2014 | 12:00AM |

Stocks

Foreign funds turn net sellers on Bursa Malaysia

KUALA LUMPUR: Malaysia’s blue chips slipped in early Thursday trade on some selling on Telekom Malaysia, Petronas Dagangan and SapuraKencana Petroleum (SKPetro) after the recent buying interest while foreign funds were net sellers the previous day.

27 November 2014 | 9:35AM |

Corporate News

Asia shares edge higher, oil tumbles to 4 year low

TOKYO: Asian stocks hit a one-month high on Thursday as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded.

27 November 2014 | 11:47AM |

Markets

Maybank net profit at RM1.6bil

PETALING JAYA: Malayan Banking Bhd’s (Maybank) net profit for its third quarter ended Sept 30, 2014 slipped 7.9% to RM1.61bil from RM1.75bil in the previous corresponding period, mainly due to losses incurred from its insurance and takaful businesses.

27 November 2014 | 12:00AM |

Stocks

Maybank poised for better 2015, says CIMB Research

KUALA LUMPUR: CIMB Equities Research said while 2014 has proven to be a tough one for Malayan Banking (Maybank), it envisages better prospects in 2015, premised on improvements in the operating environment in Indonesia, and the stabilised growth in Malaysia.

27 November 2014 | 8:38AM |

Analyst Reports

YFG's RM256mil contract in Sabah terminated

PETALING JAYA: YFG Bhd’s RM255.9mil contract for the commercial and 27-storey waterfront condominium property project in Sabah has been terminated by Palikota Sdn Bhd.

27 November 2014 | 12:00AM |

Stocks

Asia shares edge higher, oil tumbles to 4 year low

TOKYO: Asian stocks hit a one-month high on Thursday as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded.

27 November 2014 | 11:47AM |

Markets

Foreign funds turn net sellers on Bursa Malaysia

KUALA LUMPUR: Malaysia’s blue chips slipped in early Thursday trade on some selling on Telekom Malaysia, Petronas Dagangan and SapuraKencana Petroleum (SKPetro) after the recent buying interest while foreign funds were net sellers the previous day.

27 November 2014 | 9:35AM |

Corporate News

Weaker revenues for Telekom Malaysia

KUALA LUMPUR: CIMB Equities Research said Telekom Malaysia’s core net profit for the third quarter ended Sept 30, 2014 (Q3, FY14) fell 10.5% on-quarter (-29.1% on-year) due to lower revenues across all business segments.

27 November 2014 | 8:54AM |

Analyst Reports

Maybank poised for better 2015, says CIMB Research

KUALA LUMPUR: CIMB Equities Research said while 2014 has proven to be a tough one for Malayan Banking (Maybank), it envisages better prospects in 2015, premised on improvements in the operating environment in Indonesia, and the stabilised growth in Malaysia.

27 November 2014 | 8:38AM |

Analyst Reports

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