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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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

Southeast Asian borrowers wince as deflation looms

JAKARTA: Loans to businesses and households in Southeast Asia are growing at their slowest pace in five years, but the region's most indebted economies aren't becoming any less leveraged. Because of deflation, borrowers are at risk of shouldering heavier debt burdens.

1 April 2015 | 7:18AM |

Banking

Asian stocks sag in early trade Wednesday

TOKYO: Asian stocks sagged on Wednesday, taking their lead from weaker U.S. shares, while the dollar held to sizeable gains against a euro dogged by nerves over Greek debt negotiations.

1 April 2015 | 8:41AM |

Stocks

Strong turnout: About 5,600 shareholders and investors turned up at Public Bank Bhd’s 49th AGM in Kuala Lumpur yesterday. YAP CHEE HONG / Starpix

Public Bank: Succession plan ongoing

KUALA LUMPUR: Public Bank Bhd, the country’s second most expensive bank in terms of market value after Malayan Banking Bhd, is in no hurry to name younger candidates to its aging board. In the meantime, the bank will keep to markets where it already has a presence and focus on organic expansion to sustain future earnings growth.

31 March 2015 | 12:00AM |

Banking

Boardroom changes at Tanjung Offshore

PETALING JAYA: Oil and gas services firm Tanjung Offshore Bhd saw several directorship changes, with Shahrizal Hisham Abdul Halim and Tan Wee Koh tendering their resignations, while Datuk Suraj Singh Gill and Datuk Syed Hussian Syed Junid were appointed to the board.

1 April 2015 | 12:00AM |

Oil & Gas

Higher fair value for Astro, DRB-HICOM 'buy', ECS ICT 'buy'

AMRESEARCH has maintained its “hold” call on Astro with a higher fair value of RM3.48 per share. Astro reported financial year ended Jan 31, 2015 (FY15) earnings of RM519.4mil that was within the research house’s expectations – constituting 103% of the house’s estimates and 101% of consensus’.

1 April 2015 | 12:00AM |

Analyst Reports

Amin to sell his Integrax shares to Tenaga

KUALA LUMPUR: Integrax Bhd’s second-largest shareholder Amin Halim Rasip has conceded defeat in his battle against Tenaga Nasional Bhd to secure a better price for his stake in the port operator.

31 March 2015 | 6:08PM |

Corporate News

Firm closing for KLCI in Q1

KUALA LUMPUR: Malaysia’s blue chips ended the first quarter on Tuesday on a firm note, with the 30-stock FBM KLCI up 3.95% year-to-date on window dressing, amid a weak ringgit and crude oil prices.

31 March 2015 | 5:51PM |

Markets

Integrax: Game over

PETALING JAYA: Tenaga Nasional Bhd (TNB) has secured more than 50% acceptance for its takeover offer of port operator Integrax Bhd, effectively gaining control of the company in a corporate battle that had lasted close to three months.

31 March 2015 | 12:00AM |

Stocks

Asian stocks sag in early trade Wednesday

TOKYO: Asian stocks sagged on Wednesday, taking their lead from weaker U.S. shares, while the dollar held to sizeable gains against a euro dogged by nerves over Greek debt negotiations.

1 April 2015 | 8:41AM |

Stocks

Southeast Asian borrowers wince as deflation looms

JAKARTA: Loans to businesses and households in Southeast Asia are growing at their slowest pace in five years, but the region's most indebted economies aren't becoming any less leveraged. Because of deflation, borrowers are at risk of shouldering heavier debt burdens.

1 April 2015 | 7:18AM |

Banking

Oil extends losses on Iran talks; Brent ends March down 12%

NEW YORK: Oil fell for a third straight session on Tuesday, with Brent crude tumbling 12 percent for the month, as world powers entered into intense negotiations with Iran for a nuclear deal that could bring more of its oil to an oversupplied market.

1 April 2015 | 6:49AM |

Oil & Gas

Wall St. drops but S&P, Nasdaq register 9th straight quarterly gains

NEW YORK: U.S. stocks fell on Tuesday as energy and healthcare shares retreated, but the S&P 500 and Nasdaq registered their ninth straight quarterly advance. The S&P's 500 quarterly winning streak was its longest since 1998, while the Nasdaq's was its longest ever. The Dow registered a slight loss for the quarter.

1 April 2015 | 6:41AM |

Stocks

Boardroom changes at Tanjung Offshore

PETALING JAYA: Oil and gas services firm Tanjung Offshore Bhd saw several directorship changes, with Shahrizal Hisham Abdul Halim and Tan Wee Koh tendering their resignations, while Datuk Suraj Singh Gill and Datuk Syed Hussian Syed Junid were appointed to the board.

1 April 2015 | 12:00AM |

Oil & Gas

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

Xinghe sees RM200mil revenue from JV with arabian firm

KUALA LUMPUR: Edible-oil manufacturer Xinghe Holdings Bhd is expecting an annual revenue of RM200mil following a tie-up with Arab Supplier Fabrication And Retail Sdn Bhd (Asfar), a manufacturer and exporter of palm-related products.

1 April 2015 | 12:00AM |

Palm Oil

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