Business

Mokhzani and Yeow to keep stakes in SapuraKencana

PETALING JAYA: Tan Sri Mokhzani Mahathir and close associate Yeow Kheng Chew, better known as KC, have no plans to sell their combined stake of 9.12% in oil and gas (O&G) giant SapuraKencana Petroleum Bhd (SapKen) following their resignations from the board of the company. “We have no plans to sell,” Mokhzani told StarBiz.

From left: Ong, Lim and Leong at the briefing. Leong says the group plans to open 11 cinemas.

PPB sets aside RM535mil for capex

KUALA LUMPUR: PPB Group Bhd will spend RM535mil on capital expenditure (capex) over the next two to three years, focusing on expanding the Golden Screen Cinemas (GSC) chain, according to chief financial officer Leong Choy Ying.Most of the investment will go towards expanding the GSC chain

Slowdown in Klang Valley landed residential market expected

KUALA LUMPUR: The Klang Valley market for landed residential is expected to experience a slowdown in 2015.

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1MDB sheds light, explains RM2bil debt,eyes listing

PETALING JAYA: Government-owned strategic fund 1Malaysia Development Bhd (1MDB) has shed light on its highly-debated RM2bil loan taken by its subsidiary and asserted that it will resubmit its application to list its power arm.

5 March 2015 | 12:00AM |

Stocks

Tenaga, SKPetro slip in early trade

KUALA LUMPUR: Tenaga Nasional and SapuraKencana Petroleum slipped in early Friday trade and dragged the FBM KLCI into the red amid the lack of strong fresh positive catalysts with more downside seen.

6 March 2015 | 9:38AM |

Markets

CIMB, SKPetro main drags on KLCI

KUALA LUMPUR: Losses by CIMB and SapuraKencana Petroleum were the main drags on the FBM KLCI on Thursday as market sentiment took a hit from the weak key regional bourses while the ringgit continued to lose ground against the US dollar.

5 March 2015 | 5:29PM |

Markets

Higher palm oil price in sight

KUALA LUMPUR: Oil palm producers whose profits were affected by the 15% drop in crude palm oil (CPO) price last year, will get a short relief as the commodity is expected to climb back to RM2,500 per tonne in May from RM2,380 per tonne currently on lower production and reduced stocks outlook, said international palm oil expert Dorab Mistry.

5 March 2015 | 12:00AM |

Palm Oil

Kam will continue to carry out his responsibilities until May 4.

RHBCap identifies new managing director

KUALA LUMPUR: RHB Capital Bhd (RHBCap) has identified a successor and will seek Bank Negara’s approval for the person to helm the fourth largest financial institution by assets following the resignation of current group managing director Kellee Kam.

6 March 2015 | 12:00AM |

Banking

Mokhzani Mahathir and Yeow resign from SapKen

PETALING JAYA: Tan Sri Mokhzani Mahathir and close associate Yeow Kheng Chew have resigned from the board of oil and gas giant SapuraKencana Petroleum Bhd, almost a year after they relinquished their executive position in the company.

5 March 2015 | 12:00AM |

Stocks

Bank Negara leaves rates unchanged

KUALA LUMPUR: Bank Negara has kept the overnight policy rate (OPR) unchanged at 3.25%, as the monetary policy remains accommodative and supportive of economic activity at the current level of the OPR.

6 March 2015 | 12:00AM |

Banking

Tenaga, SKPetro slip in early trade

KUALA LUMPUR: Tenaga Nasional and SapuraKencana Petroleum slipped in early Friday trade and dragged the FBM KLCI into the red amid the lack of strong fresh positive catalysts with more downside seen.

6 March 2015 | 9:38AM |

Markets

Petronas begins US$17bil bond and sukuk drive

KUALA LUMPUR: Malaysian energy company Petronas began roadshows on Thursday to raise up to $17 billion from conventional and Islamic bonds, or sukuk, for working capital. State-owned Petronas met potential investors for a $15 billion multi-currency conventional bond programme and a one-off dollar-denominated sukuk issuance of $2 billion, two sources told Reuters.

6 March 2015 | 8:16AM |

Oil & Gas

Euro sinks to 11-1/2-year low, bonds gain after ECB

NEW YORK: The euro fell to an 11-1/2-year low against the dollar on Thursday as U.S. and euro zone bond prices rose, after the European Central Bank spelled out its 1 trillion-euro stimulus plan that begins next Monday.

6 March 2015 | 6:44AM |

Banking

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