Business

UEM Sunrise: Rising up to the challenge

CEO Anwar Syahrin Abdul Ajib is with UEM Sunrise Bhd for less than a year and has a big job ahead.

A man for all seasons

From this week, StarBizWeek will be starting a new feature looking at key corporate personalities who have made the news. We kick off with Chan Guan Seng, a founding member and executive chairman of Apex Equity who announced this week his intention to sell his stake in the brokerage for the right price.

Goh: ‘There are lot more fun ideas out there in the market and we think we can leverage on those brands.’
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How far can Karex stretch?

Analysts say M&A activity can be a catalyst for the condom maker

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Iskandar property cooling down

ASK any developer or real estate agent about the Iskandar region and they’ll tell you that the property “heat” in Johor has cooled down. But that was from a high base some two years back.

1 August 2015 | 12:00AM |

Johor property

Eye on stocks; Ancom Bhd

ANCOM Bhd shares pulled back from a near five-year highs of 72.5 sen on July 22, last year to a low of 38.5 sen on Dec 16 on correction owing to an apparent profit taking.

1 August 2015 | 12:00AM |

Eye on stock

Alliance Financial Group Bhd CEO Joel Kornreich

AFG upbeat about improving financial performance

THE challenging operating environment in the banking sector will not dampen Alliance Financial Group Bhd’s (AFG) pursuit to put the banking group on a stronger financial footing.

1 August 2015 | 12:00AM |

AFG

Gold heads for longest weekly losing streak in 16 years

MANILA: Gold slipped to near 5-1/2-year lows on Friday and was on course for a sixth straight weekly fall, its longest retreat since 1999, after upbeat U.S. economic data strengthened expectations for a near-term hike in interest rates.

31 July 2015 | 11:15AM |

Markets

Maybank and CIMB drive KLCI’s rebound

KUALA LUMPUR: Maybank and CIMB underpinned the FBM KLCI’s technical rebound on Friday, the final day of July, and sent the index up nearly 1.4% in line with the firm regional markets.

31 July 2015 | 7:07PM |

Forex

Zhou Yongkang: Fall of Zhou, one of the top guns facing corroption charges, was a clear indication that the president meant business. – AFP

Tackling corruption China style

CHINA was notorious for its corrupt officials. But since 2012, when President Xi Jinping embarked on an anti-graft campaign to eradicate the country of corrupt leaders, the results have been gratifying.

1 August 2015 | 12:00AM |

china xi

Oil prices fall on OPEC comments

SINGAPORE: Oil prices fell in Asian trade on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cut-back in production, although a fall in the U.S. dollar put a floor under prices.

31 July 2015 | 11:20AM |

Economy

Public Bank net profit up 13% to RM1.2bil

PETALING JAYA: Public Bank Bhd’s (PBB) net profit was up 13.29% to RM1.2bil on the back of a 16.72% jump in revenue to RM4.74bil for its second quarter to June 30. The better earnings were mainly due to a healthy growth in loans and deposits, and stable asset quality.

31 July 2015 | 12:00AM |

Banking

Iskandar property cooling down

ASK any developer or real estate agent about the Iskandar region and they’ll tell you that the property “heat” in Johor has cooled down. But that was from a high base some two years back.

1 August 2015 | 12:00AM |

Johor property

Oversold recovery

REVIEW: Overnight Wall Street suffered big losses for the fourth consecutive session the previous Friday, as investors turned cautious ahead of the Federal Reserve meeting while a poorer-than-expected economic data out from China and the eurozone stoked concerns about slowing global growth.

1 August 2015 | 12:00AM |

Market Trend

Eye on stocks; Ancom Bhd

ANCOM Bhd shares pulled back from a near five-year highs of 72.5 sen on July 22, last year to a low of 38.5 sen on Dec 16 on correction owing to an apparent profit taking.

1 August 2015 | 12:00AM |

Eye on stock

Business news in brief

ROYAL Dutch Shell, which reported a 37% drop in its second-quarter profits, has said that it is cutting 6,500 jobs as it prepares for a “prolonged downturn” in crude prices.

1 August 2015 | 12:00AM |

Short Position

Shareholding change at Apex imminent?

APEX Equity Holdings Bhd has been once again cast in the limelight as its share price soared this week amid an overall weak broader market.

1 August 2015 | 12:00AM |

apex

Alliance Financial Group Bhd CEO Joel Kornreich

AFG upbeat about improving financial performance

THE challenging operating environment in the banking sector will not dampen Alliance Financial Group Bhd’s (AFG) pursuit to put the banking group on a stronger financial footing.

1 August 2015 | 12:00AM |

AFG

Tradewinds buys land for RM258mil cash

KUALA LUMPUR: Tradewinds Corp Bhd, a diversified conglomerate with key interests in hospitality and property development, has acquired 12.2 acres for RM258mil cash, kick-starting the company’s first mixed development project in the country.

1 August 2015 | 12:00AM |

tradewinds

REDtone’s pre-tax profit up at RM14.5mil

KUALA LUMPUR: REDtone International Bhd’s pre-tax profit was up by RM2.11mil to RM14.48mil for the financial year ended May 31, 2015 from RM12.37mil registered in the previous financial year.

1 August 2015 | 12:00AM |

Redtone

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