Business

Rig rates tumble

PETALING JAYA: An oversupply and price war are pushing down drilling rig rates in the oil and gas (O&G) industry around the world, which could impact the earnings of some local players.

FGV’s plant in Pasir Gudang, Johor. Under the LLA, a hefty payment of about RM250mil per year has to be paid to Felda, which FGV has been paying on a quarterly basis.

FGV hit by land lease

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) posted its first net loss at RM9.33mil for the third quarter ended Sept 30 compared with a net profit of RM22.89mil in the same corresponding period a year ago.

Ooi (left) and Tey. They walked out of the EGM after a request to postpone the meeting was denied.

Most Protasco shareholders vote to remove Tey and Ooi

PETALING JAYA: Protasco Bhd’s shareholders have voted to remove two of its directors, namely Tey Por Yee and Ooi Kock Aun at an EGM.

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Oil and gas stocks under pressure as oil prices sink

KUALA LUMPUR: Malaysia’s FBM KLCI fell more than eight points in early Friday as market sentiment weaken following the selldown on oil and gas counters among the top losers as crude oil prices fell below US$60 per barrel.

28 November 2014 | 9:31AM |

Markets

Oil falls to 4-year low on doubts over Opec output cut

LONDON: Brent crude oil fell US$2 to a 50-month low under US$76 a barrel as oil producers in the Organisation of the Petroleum Exporting Countries (Opec) looked set to keep output unchanged despite a huge oversupply in world markets.

28 November 2014 | 12:00AM |

Crude oil

Ultimatum for Malaysia Airlines unions

PETALING JAYA: The proposed law governing Malaysia Airlines Bhd (MAB), the new company that will take over Malaysian Airlines System Bhd (MAS), spells out clearly the terms that ensure unions and associations come to the negotiating table within a stipulated timeframe or risk losing out in any decision-making.

27 November 2014 | 12:00AM |

Stocks

Oil price plunge rattles O&G stocks

KUALA LUMPUR: Oil and gas related stocks came under selling pressure at the midday break on Friday as the plunge in oil prices weighed on investor sentiment as the sector was downgraded by some analysts.

28 November 2014 | 1:33PM |

Markets

Oil and gas stocks under pressure as oil prices sink

KUALA LUMPUR: Malaysia’s FBM KLCI fell more than eight points in early Friday as market sentiment weaken following the selldown on oil and gas counters among the top losers as crude oil prices fell below US$60 per barrel.

28 November 2014 | 9:31AM |

Markets

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