Business

Auspicious moment: Quek (third from left) cutting the ribbon during the opening ceremony of Guoson Mall in Beijing in this file picture taken in 2011. The others are (from left) GuocoLand Ltd chairman Sat Pal Khattar, China’s Overseas Chinese Affairs Office director Li Haifeng, Dongcheng district party secretary Yang Liuyin and Guoco Group Ltd president and CEO Kwek Leng Hai

Quek’s great ‘escape’ from Beijing project

Last week, Guocoland Ltd, the property listed company of tycoon Tan Sri Quek Leng Chang disposed of its interest in an integrated property development project in Beijing for 10.5 billion yuan or RM6.8bil without realising the potential value of the asset.

Rajan: ‘The heart of the housing issue is what really constitutes an affordable price range and to which demographic this applies.’

The heart of housing issue is affordability

NATIONAL housing policies must change to reflect new realities and concerns. Today, the debate is shaped by concerns about housing affordability, particularly for the middle- and lower-middle-income group.

Petron station in Petaling Jaya, 2015.

Refiners gain from cheap oil

Petron Malaysia advances 10% amid volatility in energy sector.

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Fed says rate hike next month hinges on market volatility

JACKSON HOLE, Wyoming: The Federal Reserve on Friday left the door open to a September interest rate hike even while several U.S. central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay the first policy tightening in nearly a decade.

29 August 2015 | 9:23AM |

Banking

Olam has the last laugh in fight against short sellers

JAPAN’S Mitsubishi Corporation will take up a 20% stake in Singapore’s Olam International Ltd, an agri-business operator for S$1.53bil (RM4.6bil) or S$2.75 per share, making it the second-largest shareholder in the firm after the city-state’s sovereign wealth fund Temasek Holdings.

29 August 2015 | 12:00AM |

olam

Higher income: EPF headquarters in Kuala Lumpur. Malaysia’s largest pension fund manager says that on a cumulative basis, its investment income totalled RM22.04bil for the first six months of 2015.

EPF investment income up

Lifted by higher returns from across its portfolio of assets, the Employees Provident Fund (EPF) saw its investment income grow 9.73% to RM11.41bil for the second quarter ended June 30, 2015, from RM10.4bil in the corresponding period last year.

29 August 2015 | 12:00AM |

EPF

Malaysia Airlines gets Air Operator Certificate

KUALA LUMPUR: Malaysia Airlines Bhd (MAB) has received its Air Operator Certificate (AOC) from the Department of Civil Aviation (DCA), which will allow the airline to take flight as MAB on Sept 1.

28 August 2015 | 3:35PM |

Airlines

Private and confidential: Company directors should always be very mindful of who are present at their AGMs, as serious business discussions do take place.

AGM gatecrashers

A company’s AGM, is a routine yet important event for all shareholders. A statute such as Malaysia’s Companies Act provides that the company must hold an AGM every calendar year, and not more than 15 months after the last such meeting, whichever is earlier.

29 August 2015 | 12:00AM |

Shireen

IHH to buy 73% stake in India hospital chain

PETALING JAYA: IHH Healthcare Bhd will be taking up a 73.4% stake in an India-based private hospital chain for 12.84 billion rupees (RM819mil) to expand its operations in the world’s second-most populous country.

29 August 2015 | 12:00AM |

IHH

Fed says rate hike next month hinges on market volatility

JACKSON HOLE, Wyoming: The Federal Reserve on Friday left the door open to a September interest rate hike even while several U.S. central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay the first policy tightening in nearly a decade.

29 August 2015 | 9:23AM |

Banking

Wild week for markets ends quietly

NEW YORK: A volatile ride for global markets this week ended calmly on Friday even as lingering worries over Chinese economic growth and the Federal Reserve's plans to raise interest rates weighed on stocks, but oil rebounded sharply for a second day.

29 August 2015 | 9:19AM |

Markets

High momentum: For Sime to remain key volume player in the oil palm business, it has to up its ante not only via the land bank expansion mode, but also juggled with the rising cost of production.

Plantations the mainstay of Sime

SIME Darby Bhd has built its reputation as one of the world’s largest listed palm oil conglomerates producing some 2.8 million tonnes of crude palm oil (CPO), which represents 5% of the world’s total production.

29 August 2015 | 12:00AM |

Sime Darby

Interview Andrew Stotz.
icon video

Stotz on global investments

Research analyst shares his view on how he looks at 7,500 firms across Asia and 22,000 in the world to screen for world-class companies.

29 August 2015 | 12:00AM |

Andrew Stotz

Higher income: EPF headquarters in Kuala Lumpur. Malaysia’s largest pension fund manager says that on a cumulative basis, its investment income totalled RM22.04bil for the first six months of 2015.

EPF investment income up

Lifted by higher returns from across its portfolio of assets, the Employees Provident Fund (EPF) saw its investment income grow 9.73% to RM11.41bil for the second quarter ended June 30, 2015, from RM10.4bil in the corresponding period last year.

29 August 2015 | 12:00AM |

EPF

IHH to buy 73% stake in India hospital chain

PETALING JAYA: IHH Healthcare Bhd will be taking up a 73.4% stake in an India-based private hospital chain for 12.84 billion rupees (RM819mil) to expand its operations in the world’s second-most populous country.

29 August 2015 | 12:00AM |

IHH

Private and confidential: Company directors should always be very mindful of who are present at their AGMs, as serious business discussions do take place.

AGM gatecrashers

A company’s AGM, is a routine yet important event for all shareholders. A statute such as Malaysia’s Companies Act provides that the company must hold an AGM every calendar year, and not more than 15 months after the last such meeting, whichever is earlier.

29 August 2015 | 12:00AM |

Shireen

Biz news in brief

Early this week, a new fund was launched to boost public housing. This is the setting up of the National Public Housing Management Corporation (3PAN), which has been given an annual allocation of RM140mil. According to reports, 3PAN would take over the management and maintenance of low-cost and affordable homes built by the government and private sector.

29 August 2015 | 12:00AM |

short position

Olam has the last laugh in fight against short sellers

JAPAN’S Mitsubishi Corporation will take up a 20% stake in Singapore’s Olam International Ltd, an agri-business operator for S$1.53bil (RM4.6bil) or S$2.75 per share, making it the second-largest shareholder in the firm after the city-state’s sovereign wealth fund Temasek Holdings.

29 August 2015 | 12:00AM |

olam

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