Business

Probe on 1MDB's BSI account

KUALA LUMPUR: Bank Negara has handed over the investigative findings on 1Malaysia Development Bhd’s (1MDB) controversial investment in BSI Bank Ltd in Singapore to the relevant enforcement agencies.

Puzzling delay of PAC letter to 1MDB

PETALING JAYA: 1Malaysia Development Bhd (1MDB) revealed it only received the letter from the Public Accounts Committee (PAC) asking its current and former top executives to attend an inquiry into the affairs of 1MDB more than two weeks after it was mailed to the Finance Ministry (MOF).

Nexgram in talks with 1MDB, eyeing last available land at TRX

KUALA LUMPUR: Nexgram Holdings Bhd is eyeing the last available acres of land at 1MDB’s Tun Razak Exchange. “Our managers and agents are in talks with 1MDB and have voiced our interest to participate in the development of the project,” its executive director Alan How Han Lun told reporters

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TNB loses RM6bil in value over six days

PETALING JAYA: The mere speculation of purchasing the power assets under 1Malaysia Development Bhd (1MDB) had caused Tenaga Nasional Bhd (TNB) to lose some RM6bil in value over the last six trading days.

26 May 2015 | 12:00AM |

Stocks

PUBLIC Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed speaks during a press conferences after he a meeting at Parliament today.AZHAR MAHFOF/The star (25/5/2019)

Auditors under scrutiny in 1MDB probe

PETALING JAYA: The auditors of 1Malaysia Development Bhd (1MDB) will now be the focus of the inquiry by the Public Accounts Committee (PAC) after two key witnesses asked for a delay to appear before the committee.

26 May 2015 | 12:00AM |

Stocks

Analysts upbeat on Star’s digital story

PETALING JAYA: Star Media Group Bhd is expected to weather the challenges facing the media industry with the company’s efforts to grow revenue from its integrated print, online, events and broadcast platforms, analysts said.

27 May 2015 | 12:00AM |

Stocks

Malaysian stocks continue downtrend

PETALING JAYA: Bucking the trend of Asian markets that were generally on an uptrend, the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) continued its downtrend, as it shed another 20.12 points or 1.13% to close at 1,767.38 points yesterday on the back of rising political undercurrents in the market. While global investors were net purchasers of Asian equity last week, they continued to be net sellers of Malaysian equity.

26 May 2015 | 12:00AM |

Stocks

Moody's keep Stable on Malaysia's banking system

SINGAPORE: The outlook of the Malaysian banking system is stable over the next 12 to 18 months due to a continued high degree of government support to the sector as well as bank’s strong capital and stable funding levels, says Moody’s Investors Service (Moody's).

26 May 2015 | 4:57PM |

Business News

No let-up of foreign selling on Bursa

KUALA LUMPUR: Foreign funds continued to reduce their shareholdings in Malaysian companies with net selling at -RM219.9mil on Tuesday, according to BIMB Securities Research data.

27 May 2015 | 8:54AM |

Markets

Thailand approves US$12bil Japan railway scheme

BANGKOK: Thailand’s cabinet has approved a US$12bil (RM43.7bil) railway project to be built with Japanese help, a deputy government spokesman said on Tuesday, one of several big-ticket plans the government hopes will stimulate South-East Asia’s second largest economy.

26 May 2015 | 10:26PM |

Thailand

No let-up of foreign selling on Bursa

KUALA LUMPUR: Foreign funds continued to reduce their shareholdings in Malaysian companies with net selling at -RM219.9mil on Tuesday, according to BIMB Securities Research data.

27 May 2015 | 8:54AM |

Markets

Germany opens the bidding for mobile phone airwaves

FRANKFURT: Germany starts an auction of radio frequencies for mobile phone network operators on Wednesday, hoping to fill state coffers with billions of euros which it plans to use to help improve the country's fast broadband network.

27 May 2015 | 8:37AM |

Telcos

Shake-up in key Samsung assets to cement heir's grip as succession looms

SEOUL: Samsung Group's de facto holding company on Tuesday sought another cornerstone as it reconstructs South Korea's biggest conglomerate to smooth the path for management succession, offering more than US$8 billion to buy an affiliate with a key stake in flagship firm Samsung Electronics.

27 May 2015 | 6:59AM |

Stocks

Dollar jumps on Europe woes, data; commodities fall

NEW YORK: The U.S. dollar rallied on Tuesday after a string of healthy economic data boosted near-term rate hike prospects, while Greece's financial crisis and signs of growing opposition to austerity in Spain weighed further on the euro.

27 May 2015 | 6:54AM |

Stocks

US stocks drop on rate concerns, Greece

NEW YORK: U.S. stocks fell on Tuesday, pushing the S&P 500 to its biggest decline in three weeks, weighed down by concerns about Greece and some upbeat data that fueled expectations that a U.S. rate hike could come sooner rather than later.

27 May 2015 | 6:49AM |

Stocks

Charter's $56 billion Time Warner Cable deal to face U.S. scrutiny

NEW YORK/WASHINGTON: Charter Communications Inc, seeking to remake the U.S. cable television industry by acquiring larger rival Time Warner Cable Inc for $56 billion (36.42 billion pounds), will try to skirt the regulatory obstacles that helped sink Comcast Corp's earlier bid for Time Warner Cable.

27 May 2015 | 6:44AM |

Stocks

Data thieves gain access to 100,000 U.S. taxpayers' information

NEW YORK: Tax return information for about 100,000 U.S. taxpayers was illegally accessed by cyber criminals over the past four months, U.S. IRS Commissioner John Koskinen said on Tuesday, the latest in a series of data thefts that have alarmed American consumers.

27 May 2015 | 6:34AM |

Taxation

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