Business

1MDB’s power woes

KUALA LUMPUR: The fate of the controversial 3B power plant project that was awarded to 1Malaysia Development Bhd (1MDB) would be known next week. The project that was supposed to be commissioned in stages beginning Oct 1, 2018 is bogged down by delays and so far there has not been any news of its financing being firmed up.

Biodiesel programme in Malaysia and Indonesia key to CPO price stability

KUALA LUMPUR: The continuous implementation of the biodiesel programme in Malaysia and Indonesia would be the key to ensure price stability of crude palm oil (CPO) prices for this year.

Himmat strikes the gong at the launch of MIFF 2015 exhibition. With him are (from left) Tan, UBM Asia president/CEO Jime Essink and UBM Asean managing director M. Gandhi.

Weak ringgit expected to boost furniture industry

KUALA LUMPUR: The local furniture industry will receive a boost from a weaker ringgit, with exports to gain by more than 10%, according to Malaysian International Furniture Fair (MIFF) chairman Datuk Tan Chin Huat.

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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.

3 March 2015 | 12:00AM |

Oil & Gas

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.

3 March 2015 | 12:00AM |

Banking

Debt-to-equity swap is seen by bankers as the most feasible option for the electronics manufacturer. — EPA

Sharp plans to tap banks for second bailout

TOKYO: Japan’s loss-making Sharp Corp will seek new funds for further restructuring from its two main lenders, a source said, with a debt-to-equity swap seen by bankers as the most feasible option.

4 March 2015 | 12:00AM |

Sharp Corp

Australia orders fast sale of mansion

SYDNEY: Australia announced it was forcing the Chinese owner of a A$39mil (US$30.5mil) Sydney mansion to sell up within 90 days, the first such crackdown on foreign investment in residential real estate since 2006.

4 March 2015 | 12:00AM |

Australia

Debt-to-equity swap is seen by bankers as the most feasible option for the electronics manufacturer. — EPA

Sharp plans to tap banks for second bailout

TOKYO: Japan’s loss-making Sharp Corp will seek new funds for further restructuring from its two main lenders, a source said, with a debt-to-equity swap seen by bankers as the most feasible option.

4 March 2015 | 12:00AM |

Sharp Corp

Australia’s RBA holds interest rates

SYDNEY: Australia’s central bank held its cash rate steady to confound calls for a cut and sending the local dollar sharply higher, though it did leave the door wide open for an easing at future policy meetings.

4 March 2015 | 12:00AM |

RBA

Singapore February factory activity shrinks

SINGAPORE: Activity in Singapore’s manufacturing sector contracted for the third straight month in February as new orders declined, with the key electronics index shrinking for the first time in more than two years, a survey showed.

4 March 2015 | 12:00AM |

Singapore

China will keep fiscal policy proactive

BEIJING: China’s vice-finance minister Zhu Guangyao said the country’s fiscal policy will remain proactive going forward, but added that deflationary pressure is not as intense as in Europe.

4 March 2015 | 12:00AM |

China

Australia orders fast sale of mansion

SYDNEY: Australia announced it was forcing the Chinese owner of a A$39mil (US$30.5mil) Sydney mansion to sell up within 90 days, the first such crackdown on foreign investment in residential real estate since 2006.

4 March 2015 | 12:00AM |

Australia

Macau gaming revenue slumps 49%

HONG KONG: Gambling revenue in Macau, the world’s biggest gaming hub, plunged by a record 49% in February, as wealthy players shied away from China’s only legal casino hub following the economic slowdown and Beijing’s crackdown on conspicuous spending.

4 March 2015 | 12:00AM |

Macau

Taiwan kicks Alibaba out

TAIPEI: Taiwan has ordered Alibaba Group Holding Ltd to withdraw from the island within six months because the online retailer had violated investment rules required for a Chinese company, an economics ministry official said.

4 March 2015 | 12:00AM |

Alibaba

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