Business

US dollar peg to remain, says HK chief executive

KUALA LUMPUR: The policy to keep the Hong Kong dollar pegged against the US dollar will remain although the Asian currencies have come under increasing pressure due to the volatility in the dollar.

Sarawak Energy chief executive Datuk Torstein Dale Sjotveit. - ZULAZHAR SHEBLEE / THE STAR

Sarawak’s Baleh dam will have 1,285-MW capacity

KUCHING: The proposed Baleh hydroelectric dam, which Sarawak Energy Bhd (SEB) plans to build to boost its power generation capacity, will have an installed capacity of 1,285 MW.

Ter is mainly injecting shares of his private property companies.

QL substantial shareholders take up stake in Sunsuria

PETALING JAYA: Agri-food and poultry giant QL Resources Bhd is poised to emerge as a substiantial shareholder in property developer Sunsuria Bhd, which is embarking on the Xiamen University Malaysia Campus property development project in Sepang, said sources.

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Tenaga Nasional Q2 earnings up 24% to RM2.15b

KUALA LUMPUR: Tenaga Nasional Bhd’s earnings rose 24.3% to RM2.156bil in the second quarter ended Deb 28, 2015 from RM1.734bil a year ago, mainly due to the reduction in the costs of gas as more coal plants were utilised during the period.

27 April 2015 | 7:10PM |

Corporate News

Why Malaysians rejected proposed EPF withdrawal age

The Prime Minister Datuk Seri Najib Tun Razak made an announcement that had many Malaysians let out a sigh of relief. The hotly debated Employees Provident Fund’s (EPF) proposal of raising the full withdrawal age from 55 to 60, had many Malaysians worried.

26 April 2015 | 2:04PM |

Personal Finance

Redtone independent directors say No to Juara Sejati's takeover offer

KUALA LUMPUR: Two of Redtone International Bhd independent directors have rejected the “fair and reasonable” evaluation given by independent adviser Mercury Securities Sdn Bhd regarding Juara Sejati Sdn Bhd's conditional takeover offer of the telecommunications service provider.

27 April 2015 | 6:44PM |

Telcos

Maybank, DiGi, RHB Cap drag KLCI into the red

KUALA LUMPUR: Profit taking picked up pace in late trade on Monday with some selling pressure seen in Maybank, DiGi and RHB Capital while the broader market weaken despite the stronger ringgit.

27 April 2015 | 5:41PM |

Markets

CIMB retains Add for RHB Capital

KUALA LUMPUR: CIMB Equities Research is maintaining its Add recommendation for RHB Capital and its top pick for the sector due to its robust loan growth, market share gains in its investment banking business, and swift expansion in Singapore.

27 April 2015 | 8:21AM |

Banking

KLCI ekes out slim gains in volatile trade

KUALA LUMPUR: The FBM KLCI eked out slim gains at the midday break on Monday in volatile trade, which saw the 30-stock coming under pressure in late morning as plantation stocks fell.

27 April 2015 | 12:56PM |

Markets

Like shale oil, solar power is shaking up global energy

SINGAPORE/TOKYO: One by one, Japan is turning off the lights at the giant oil-fired power plants that propelled it to the ranks of the world's top industrialised nations. With nuclear power in the doldrums after the Fukushima disaster, it's solar energy that is becoming the alternative.

26 April 2015 | 1:55PM |

Corporate News

Tenaga Nasional Q2 earnings up 24% to RM2.15b

KUALA LUMPUR: Tenaga Nasional Bhd’s earnings rose 24.3% to RM2.156bil in the second quarter ended Deb 28, 2015 from RM1.734bil a year ago, mainly due to the reduction in the costs of gas as more coal plants were utilised during the period.

27 April 2015 | 7:10PM |

Corporate News

Redtone independent directors say No to Juara Sejati's takeover offer

KUALA LUMPUR: Two of Redtone International Bhd independent directors have rejected the “fair and reasonable” evaluation given by independent adviser Mercury Securities Sdn Bhd regarding Juara Sejati Sdn Bhd's conditional takeover offer of the telecommunications service provider.

27 April 2015 | 6:44PM |

Telcos

Maybank, DiGi, RHB Cap drag KLCI into the red

KUALA LUMPUR: Profit taking picked up pace in late trade on Monday with some selling pressure seen in Maybank, DiGi and RHB Capital while the broader market weaken despite the stronger ringgit.

27 April 2015 | 5:41PM |

Markets

MMHE net profit up 4%

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHE) net profit for the first quarter ended March 31, 2015 increased 4% to RM36.03mil, from RM34.63mil a year ago on the back of higher revenue from the group’s offshore and marine divisions.

27 April 2015 | 2:57PM |

Corporate News

Carimin partners with Middle East companies

KUALA LUMPUR: Carimin Petroleum Bhd, oil and gas (O&G) services provider has inked collaboration agreements with Makamin Offshore Saudi Ltd (MOS) and Petrol Allied International DMCEST (PAI) to jointly tender for oil and gas business activities in Saudi Arabia, the Middle East, South East Asia and Australia.

27 April 2015 | 1:03PM |

Oil & Gas

KLCI ekes out slim gains in volatile trade

KUALA LUMPUR: The FBM KLCI eked out slim gains at the midday break on Monday in volatile trade, which saw the 30-stock coming under pressure in late morning as plantation stocks fell.

27 April 2015 | 12:56PM |

Markets

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