Business

Malaysian Automotive Association lowers vehicle sales outlook

PETALING JAYA: The Malaysian Automotive Association (MAA) has revised its total industry volume for this year to 670,000 from 680,000 units earlier, owing to declining vehicle sales in the first half of this year.

Malaysian ringgit at 17-year low

S&P reaffirms Malaysia’s rating, Wahid says country better prepared to handle challenges, Technical analysts say ringgit will test the 4.00 mark against the US dollar

MAHB says only 2.3% of klia2 airport area affected by settlement

KUALA LUMPUR: Malaysia Airport Holdings Bhd (MAHB) says that the klia2 terminal, apron and taxiways are safe for operations and ruled out any suggestions that airlines can return to the low-cost carrier terminal (LCCT).

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AirAsia X sees shifting back to LCCT a good option for now

KUALA LUMPUR: AirAsia X Bhd contends that the ongoing resurfacing works at the KL International Airport 2 (KLIA2) is affecting its operations, according to AirAsia Bhd chief executive officer Aireen Omar. She said the continued works to address the soil depression of the tarmac could cause the airline to incur additional maintenance costs.

28 July 2015 | 12:00AM |

Airlines

Fairchild to sell Penang factory, 1,000 set to lose jobs

GEORGE TOWN: Fairchild Semiconductor International Inc, known as National Semiconductor when it first came to Malaysia in 1972, is selling its manufacturing facility in the Free Industrial Zone (FIZ), Bayan Lepas as part of its worldwide realignment exercise. About 1,000 people will lose their jobs.

27 July 2015 | 12:00AM |

Stocks

KLCI closes below 1,700 as MISC falls

KUALA LUMPUR: Malaysia’s blue chips index, the FBM KLCI closed below the critical 1,700 level on Tuesday on extended foreign selling while Sunway Construction ended its first trading day unchanged.

28 July 2015 | 6:12PM |

Markets

BAT’s Q2 profit and revenue slip

KUALA LUMPUR: British American Tobacco (M) Bhd’s (BAT) pre-tax profit for the second quarter ended June 30, 2015 slipped to RM286.88milfrom RM330.41mil in the same quarter last year.

28 July 2015 | 7:45PM |

Corporate News

Keeping calm: Malaysia lets ringgit fall below 1998-2005 peg

KUALA LUMPUR: For the past three weeks, Malaysian authorities have allowed the ringgit to trade below levels that in 1998 prompted them to impose a dollar peg and capital controls. Economists expect more downside, with the Federal Reserve set to raise U.S. interest rates.

28 July 2015 | 7:17AM |

Economy

Ringgit slumps to 17 year low versus US dollar

SINGAPORE: The ringgit hit a 17-year low on Monday as a global slump in commodity prices added to concerns over sluggish exports, while investors braced for a US Federal Reserve meeting that might take another step toward lifting interest rates.

27 July 2015 | 11:47AM |

Forex

Ringgit, rupiah at 17-year lows on Fed caution

SINGAPORE: Most emerging Asian currencies eased on Monday amid caution ahead of the U.S. Federal Reserve's policy meeting, while weak commodity prices sent the Malaysian ringgit and the Indonesian rupiah to 17-year lows.

27 July 2015 | 2:29PM |

Forex

Dow, S&P rise after five-day selloff; Fed meeting eyed

NEW YORK: The S&P 500 and the Dow Jones industrial average rose on Tuesday, breaking a five-day losing streak, as investors refocused on corporate earnings ahead of a two-day US Federal Reserve meeting which could give clues regarding the timing of a rate hike.

28 July 2015 | 10:15PM |

Foreign News

BAT’s Q2 profit and revenue slip

KUALA LUMPUR: British American Tobacco (M) Bhd’s (BAT) pre-tax profit for the second quarter ended June 30, 2015 slipped to RM286.88milfrom RM330.41mil in the same quarter last year.

28 July 2015 | 7:45PM |

Corporate News

MMHE’s Q2 net profit halved on lower offshore contribution

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHE) net profit for the second quarter ended June 30, 2015, was halved to RM18.026mil compared with a year earlier, mainly due to a lower contribution from its offshore construction and conversion business.

28 July 2015 | 6:28PM |

Corporate News

KLCI closes below 1,700 as MISC falls

KUALA LUMPUR: Malaysia’s blue chips index, the FBM KLCI closed below the critical 1,700 level on Tuesday on extended foreign selling while Sunway Construction ended its first trading day unchanged.

28 July 2015 | 6:12PM |

Markets

Mitsui partners Nusajaya Tech for Iskandar job

KUALA LUMPUR: Tokyo-based Mitsui and Co Ltd has entered into a joint venture (JV) agreement with Nusajaya Tech Park Sdn Bhd to undertake a 10.7ha development, comprising build-to-suit (BTS) properties for lease in Iskandar Malaysia.

28 July 2015 | 5:05PM |

Corporate News

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