Business

Record prices for apartments in Malaysia

PETALING JAYA: The Pavilion group is setting a record of sorts as it has priced its high-rise serviced residential units of its latest project – the Pavilion Suites – along Jalan Bukit Bintang starting from RM3,000 per sq ft.

Gem of a portal: Kon Sean (seated 3rd from right) posing with employees of the online store.

Billionaire Quek's son starts online shopping portal

PETALING JAYA: Quek Kon Sean, the youngest son of billionaire Tan Sri Quek Leng Chan of the Hong Leong Group, has founded GEMFive, an online shopping portal that he plans to take into the regional digital space, targeting Singapore and Indonesia next.

Bank rate cut not expected this year says economists

PETALING JAYA: Strengthening crude oil prices and stable external demand may stay the hand of Bank Negara policymakers on a rate cut this year.

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Interest rate cut impact

PETALING JAYA: Banking margins could be negatively impacted if the central bank decides to cut the overnight policy rate (OPR), should economic growth comes in weaker than expected.

5 May 2015 | 12:00AM |

Banking

Banks, Petronas stocks top losers at midday

KUALA LUMPUR: Banks and Petronas-linked stocks were among the top losers at midday on Wednesday, in line with key Asian markets except China, but a rebound in crude oil price could later support oil and gas related stocks.

6 May 2015 | 1:07PM |

Markets

Cahya Mata to expand cement production capacity by 60%

KUCHING: Cahya Mata Sarawak Bhd (CMS) will raise cement production capacity by almost 60% to 2.75 million tonnes per annum when its third grinding plant, currently being built, is commissioned in the first quarter of 2016.

5 May 2015 | 12:00AM |

Stocks

Kuwait Finance House says may sell Malaysia unit

DUBAI: Kuwait Finance House (KFH), the Gulf nations' biggest Islamic lender, may sell some of its investments including KFH Malaysia and has picked Credit Suisse to advise it on the matter, KFH said on Wednesday.

7 May 2015 | 7:25AM |

Banking

Tough turnaround for Malaysia Airlines

PETALING JAYA: Malaysia Airlines’ (MAS) new chief executive officer (CEO), Christoph Mueller (pic), in his first message to 20,000 employees has warned of massive cost cuts, as the chilling truth is that the airline’s cost has been 20% above that of its competitors.

7 May 2015 | 12:00AM |

Airlines

SapKen poised to win RM5.35bil global jobs

PETALING JAYA: SapuraKencana Petroleum Bhd (SapKen) is poised to land two international jobs in India and Mexico respectively totalling about US$1.5bil (RM5.35bil), according to a source close to the deals. This development comes when the crude oil price has crossed US$60 per barrel two days ago, the first time in nearly five months.

7 May 2015 | 12:00AM |

Oil & Gas

Japan-based Bank Daiwa eyes Affin Hwang IB stake

PETALING JAYA: Japan-based Investment Bank Daiwa Securities Group Inc will begin talks to acquire a minority stake in Affin Hwang Investment Bank Bhd (formerly known as HwangDBS Investment Bank Bhd).

7 May 2015 | 12:00AM |

Banking

Press Metal (Sarawak) Sdn Bhds first aluminium smelter plant in Sarawak is located at Mukah. This plant is a twin facility, each wing is 750m long. Press Metal (Bintulu) Sdn Bhd is now building an even larger plant at Samalaju, which when operational at the end of this year, will be 1.2km long.

Press Metal posts higher Q1 net profit

KUALA LUMPUR: Press Metal Bhd, whose shares came under selling pressure in the second half of last month due to concerns of an aluminium glut, posted commendable results for the first quarter ended March 31.

7 May 2015 | 12:00AM |

Stocks

Lapis non-equity partner in project

KUALA LUMPUR: Property outfit Tropicana Corp Bhd has said that Lasallian Asia Partnership for International Schools Pte Ltd (Lapis) has decided not to take up an equity stake in a joint venture to build an international school in Selangor.

7 May 2015 | 12:00AM |

Stocks

RM2mil profit for C.I. Holdings

PETALING JAYA: C.I. Holdings Bhd posted a net profit of RM2.23mil for the third quarter ended March 31 compared with a loss of RM2.14mil last year.

7 May 2015 | 12:00AM |

Stocks

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