Business

Oil and gas stocks hit by impairments and narrow margins

PETALING JAYA: The fall in oil prices was clearly felt by oil and gas (O&G) companies in the recent results season, where most had to provide for assets that were lower in value based on the latest outlook for the industry and narrowing margins.

Investors expected to stay on sidelines of local stock market

PETALING JAYA: Local retail investors are likely to remain on the sidelines this week after staying on the sidelines last week despite foreign institutional investors flocking back to the market last Friday.

Wahid says following the adjustments, the Government will benefit should a project receive ‘super normal’ returns.

Changes to PPP financing

KUALA LUMPUR: The Government will make the necessary adjustments to the private-public partnership (PPP) financing model that is routinely used to finance mega projects, said Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar.

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CI Holdings extends gains after hitting limit-up

KUALA LUMPUR: C.I. Holdings Bhd’s share price extended its gains on Tuesday after hitting limit-up the previous on expectations of a positive corporate exercise, boosted by the sharp improvement in its financial results.

3 March 2015 | 11:22AM |

Corporate News

Furniture export earnings poised to strengthen further, says Unggah

KUALA LUMPUR: Malaysia's export earnings from furniture products are poised to strengthen further with the country continuing to be among the top 10 exporters globally, said Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas.

3 March 2015 | 5:00PM |

Transparency International calls for high-level panel over IMDB issue

KUALA LUMPUR: Transparency International Malaysia (TI-M) has urged the Government to set up a special high level task force to conduct a full investigation into the numerous allegations of a “massive billion ringgit financial and commercial crime scandal” involving 1Malaysia Development Bhd (1MDB) and “a little-known oil company”.

3 March 2015 | 4:05PM |

Corporate News

A model of Sapphire On The Park project. The condominiums are developed as the first component of Kuching Paragon, Naim’s flagship development .

Brisk sales of Naim’s condos

KUCHING: Sarawak’s largest developer Naim Holdings Bhd’s recently launched upmarket high-rise residential projects, which are the components of its ambitious billion-ringgit Bintulu Paragon and Kuching Paragon developments, have chalked up sales of over RM50mil despite a slowdown in the property market.

3 March 2015 | 12:00AM |

Property

Maybank, Public Bank lead KLCI to higher close

KUALA LUMPUR: Fund buying of Maybank and Public Bank led the FBM KLCI higher on Tuesday as investor sentiment firmed up on the positive key regional markets and also Wall Street strong overnight close.

3 March 2015 | 5:26PM |

Markets

Australia central bank holds rates at 2.25%

SYDNEY: Australia's central bank kept its cash rate steady at a record low of 2.25% on Tuesday, surprising some who had looked for another easing to follow February's cut.

3 March 2015 | 12:06PM |

Banking

Billionaire Warren Buffett questions putting activist on GM board

DETROIT: Berkshire Hathaway Chief Executive Warren Buffett, one of the largest shareholders in General Motors Co, said on Monday he would be wary of putting former U.S. autos task force member Harry Wilson or anyone else on the company's board if the focus was on the short-term performance of the automaker.

3 March 2015 | 6:58AM |

Stocks

Maybank, Public Bank lead KLCI to higher close

KUALA LUMPUR: Fund buying of Maybank and Public Bank led the FBM KLCI higher on Tuesday as investor sentiment firmed up on the positive key regional markets and also Wall Street strong overnight close.

3 March 2015 | 5:26PM |

Markets

Furniture export earnings poised to strengthen further, says Unggah

KUALA LUMPUR: Malaysia's export earnings from furniture products are poised to strengthen further with the country continuing to be among the top 10 exporters globally, said Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas.

3 March 2015 | 5:00PM |

Emir: Felda Global share volatility due to CPO prices

KUALA LUMPUR: The volatility in the share price of Felda Global Ventures Holdings Bhd (FGV) is a reflection of crude palm oil (CPO)prices and not purely based on the firm's financial standing.

3 March 2015 | 4:58PM |

CIMB, Mitsubishi Corp launch Asean Industrial Growth Fund

KUALA LUMPUR: CIMB Group and Mitsubishi Corporation have launched the Asean Industrial Growth Fund (AIGF), which is a jointly-sponsored southeast Asia-focused private equity fund to be managed by CIMB Private Equity and Mitsubishi.

3 March 2015 | 4:21PM |

Markets

Transparency International calls for high-level panel over IMDB issue

KUALA LUMPUR: Transparency International Malaysia (TI-M) has urged the Government to set up a special high level task force to conduct a full investigation into the numerous allegations of a “massive billion ringgit financial and commercial crime scandal” involving 1Malaysia Development Bhd (1MDB) and “a little-known oil company”.

3 March 2015 | 4:05PM |

Corporate News

KLCI up nearly 6 points at midday

KUALA LUMPUR: The FBM KLCI ended the morning session firmer despite the mostly weaker regional markets, however the broader market was seen weaker due to lack of fresh new leads.

3 March 2015 | 12:53PM |

Oil prices rise as global markets firm

SINGAPORE: Brent crude futures rose above $60 a barrel on Tuesday, after a sharp drop in the previous session on record U.S. stocks, as firm Asian markets supported prices.

3 March 2015 | 12:45PM |

Oil & Gas

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