Business

Differing views

PETALING JAYA: Two out of the four independent directors of REDtone International Bhd have rejected the takeover offer launched by Berjaya Corp Bhd (BCorp) for the telecommunications company, as they feel the offer price of 80 sen a share is too low.

RHB banking group deputy group managing director and RHB Bank managing director Datuk Khairussaleh Ramli

RHB Capital names Khairussaleh CEO and MD

PETALING JAYA: Banking and financial services group RHB Capital Bhd (RHBCap) has appointed Datuk Khairussaleh Ramli (pic) as chief executive officer and managing director with effect from May 5.

Azman says the current global economic environment would bring about a new challenging landscape.

TNB second-quarter earnings jump 25%

PETALING JAYA: Tenaga Nasional Bhd’s (TNB) net profit for the second quarter ended Feb 28, 2015, jumped 25% to RM2.16bil compared with the previous corresponding period, mainly due to improved electricity sales.

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KLCI under pressure, slips more than 5 points

KUALA LUMPUR: Selling pressure on the FBM KLCI stocks in early Tuesday trade sent the 30-stock index down more than five points, dragged down by plantations, Petronas Gas, Axiata and Genting Bhd.

28 April 2015 | 9:42AM |

Markets

Prasarana sets 15% target

KUALA LUMPUR: State-owned light rail transit (LRT) and KL Monorail operator Prasarana Malaysia Bhd will leverage on rail commuters to increase non-fare revenue to 15% by year-end.

28 April 2015 | 12:00AM |

Prasarana Negara Bhd

IJM Land in project tie-up

PETALING JAYA: IJM Land Bhd has entered into a strategic partnership with Singapore-based Perennial Real Estate Holdings Ltd (PREH) to acquire and develop a 32.76-acre freehold waterfront land in Gelugor, Penang, into a large-scale integrated mixed-use development.

28 April 2015 | 12:00AM |

ijm

Johor Biotech eyes RM500mil investments

JOHOR BARU: Johor Biotechnology and Biodiversity Corp (J-Biotech) is targeting RM500mil of bio-based, biotechnology and bio-industrial investments this year and RM3bil by 2020.

28 April 2015 | 12:00AM |

Johor

MIDF upgrades MMHE to Neutral from Sell

KUALA LUMPUR: MIDF Research is upgrading its call to ‘neutral’ from ‘sell’ on Malaysia Marine and Heavy Engineering (MMHE) with a target price of RM1.27 per share, based on financial year 2016, price to earnings ratio of 14 times, pegged to earnings per share of 9.1sen.

28 April 2015 | 12:34PM |

Analyst Reports

Tasco, Latitude Tree among top losers

UALA LUMPUR: Logistics company Tasco and furniture maker Latitude Tree were among the top losers on Tuesday as investors took profit in the absence of any fresh catalysts.

28 April 2015 | 11:08AM |

Markets

Templeton fund ends reign in Asia as top picks falter

SINGAPORE: Templeton Asian Growth fund, managed by star stock picker Mark Mobius, ended its six-year reign as the biggest equity fund in Asia ex-Japan after suffering a second straight quarter of investor withdrawals and underperforming its benchmark.

28 April 2015 | 9:27AM |

Corporate News

US crude oil drops on expected stock build

SEOUL: US crude oil futures slipped on Tuesday as US commercial crude stocks were expected to rise for a 16th straight week, with comments from Saudi Arabia's oil minister also dragging on prices.

28 April 2015 | 9:26AM |

Oil & Gas

Bond market may come under pressure

PETALING JAYA: The bond market, which is expected to see total issuance of RM80bil to RM95bil this year, could come under pressure resulting in a yield spike in the Malaysian Government Securities (MGS) amid the imminent US Federal Reserve rate hike and inflationary pressure, according to analysts.

27 April 2015 | 12:00AM |

bond yields

Gas Malaysia partners Sime Darby Offshore

KUALA LUMPUR: Gas Malaysia Bhd has partnered with Sime Darby Offshore Engineering Sdn Bhd to undertake a biogas compressed natural gas distribution business extracted from the palm oil mill effluent.

28 April 2015 | 1:09PM |

Corporate News

MIDF upgrades MMHE to Neutral from Sell

KUALA LUMPUR: MIDF Research is upgrading its call to ‘neutral’ from ‘sell’ on Malaysia Marine and Heavy Engineering (MMHE) with a target price of RM1.27 per share, based on financial year 2016, price to earnings ratio of 14 times, pegged to earnings per share of 9.1sen.

28 April 2015 | 12:34PM |

Analyst Reports

Tasco, Latitude Tree among top losers

UALA LUMPUR: Logistics company Tasco and furniture maker Latitude Tree were among the top losers on Tuesday as investors took profit in the absence of any fresh catalysts.

28 April 2015 | 11:08AM |

Markets

KKB jumps on solid earnings

KUALA LUMPUR: Shares of KKB Engineering Bhd jumped at mid-morning on Tuesday after the group's earnings rose more than six-fold to RM26.7mil compared to the same period last year.

28 April 2015 | 10:52AM |

Stocks Analysis

KLCI under pressure, slips more than 5 points

KUALA LUMPUR: Selling pressure on the FBM KLCI stocks in early Tuesday trade sent the 30-stock index down more than five points, dragged down by plantations, Petronas Gas, Axiata and Genting Bhd.

28 April 2015 | 9:42AM |

Markets

Templeton fund ends reign in Asia as top picks falter

SINGAPORE: Templeton Asian Growth fund, managed by star stock picker Mark Mobius, ended its six-year reign as the biggest equity fund in Asia ex-Japan after suffering a second straight quarter of investor withdrawals and underperforming its benchmark.

28 April 2015 | 9:27AM |

Corporate News

US crude oil drops on expected stock build

SEOUL: US crude oil futures slipped on Tuesday as US commercial crude stocks were expected to rise for a 16th straight week, with comments from Saudi Arabia's oil minister also dragging on prices.

28 April 2015 | 9:26AM |

Oil & Gas

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