Business

Maybank group Q1 earnings higher at RM1.7b (Update)

KUALA LUMPUR: Malayan Banking Bhd recorded higher earnings of RM1.7bil in the first quarter ended March 31, 2015 boosted by higher fee income.

Intel shifts Kulim ops to China and Vietnam, 600 let off

GEORGE TOWN: Chip-making leader Intel Corp is relocating some of its mature products to China and Vietnam from the facility in Kulim, and has started relieving some of the workers attached to them. Sources told StarBiz that the Kulim facility has for the past weeks let off about 600 workers involved in manufacturing

Moody's take on 1MDB

KUALA LUMPUR: There is a worry that Malaysia’s fiscal consolidation may be derailed should the Government be forced to assist 1Malaysia Development Bhd (1MDB) financially.

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1MDB’s Arul refutes Sarawak Report over BSI account

KUALA LUMPUR: 1MDB president and group executive director Arul Kanda Kandasamy has refuted an online blog Sarawak Report that he had allegedly provided false statement to Bank Negara Malaysia (BNM) that 1MDB had cash in a BSI account in Singapore.

28 May 2015 | 11:53AM |

Corporate News

Asia FX sentiment worsens on Fed policy bets

SEOUL: Sentiment towards most emerging Asian currencies worsened in the last two weeks with short positions in India's rupee near a two-year high as expectations firmed that US interest rates will move higher by year end, a Reuters poll showed on Thursday.

28 May 2015 | 4:50PM |

Corporate News

Jamal declines to be re-elected

KUALA LUMPUR: Icon Offshore Bhd chief executive officer Dr Jamal Yusof, who is assisting the Malaysian Anti-Corruption Commission (MACC) in investigations into the company’s affairs, has withdrawn his offer to be re-elected to the board of the oil and gas services provider.

28 May 2015 | 12:00AM |

Stocks

1MDB audited assets worth RM51.4b

KUALA LUMPUR: The total worth of 1Malaysia Development Bhd (1MDB) audited assets for the financial year ended March 31, 2014 was RM51.4 billion, the Dewan Rakyat was told on Wednesday.

27 May 2015 | 4:09PM |

Business News

Ewein banks on property for growth

GEORGE TOWN: Ewein Bhd, a leading company in the precision sheet metal fabrication industry, expects its property development business to be the main driver of the group’s growth in the near future.

28 May 2015 | 12:00AM |

Property

Mah Sing's net profit rises 18%

KUALA LUMPUR: Mah Sing Group Bhd’s net profit for the first quarter ended March 31, 2015 rose 18% to RM98.89mil from RM83.78mil a year ago due to higher work progress and sales from ongoing development projects.

28 May 2015 | 1:07PM |

Business News

Felda Global Ventures shares plunge to new low

PETALING JAYA: Shares in Felda Global Ventures Holdings Bhd (FGV) plunged to a new low following rating cuts by analysts after the company posted its worst-ever quarterly results since its listing in 2012. The weaker selling price of crude palm oil (CPO), which is down 4% year-to-date, contributed to the company’s depressed earnings outlook.

28 May 2015 | 12:00AM |

Palm Oil

Malakoff posts RM104mil Q1 net profit

KUALA LUMPUR: Malakoff Corp Bhd, the independent power producer which was listed on Bursa Malaysia earlier this month, posted a net profit of RM103.9mil on revenue of RM1.35bil for the first quarter ended March 31.

28 May 2015 | 12:00AM |

Stocks

Probe on 1MDB's BSI account

KUALA LUMPUR: Bank Negara has handed over the investigative findings on 1Malaysia Development Bhd’s (1MDB) controversial investment in BSI Bank Ltd in Singapore to the relevant enforcement agencies.

27 May 2015 | 12:00AM |

Banking

CBIP net profit down 5.5%

KUALA LUMPUR: CB Industrial Product Holding Bhd’s (CBIP) net profit for the first quarter ended March 31, 2015 fell 5.5% to RM21.99mil, from RM23.28mil a year ago due to share of losses by the associates and joint venture.

28 May 2015 | 5:44PM |

Business News

Asia FX sentiment worsens on Fed policy bets

SEOUL: Sentiment towards most emerging Asian currencies worsened in the last two weeks with short positions in India's rupee near a two-year high as expectations firmed that US interest rates will move higher by year end, a Reuters poll showed on Thursday.

28 May 2015 | 4:50PM |

Corporate News

Global smartphones sales up 19.3%

KUALA LUMPUR: Global sales of smartphones to end users hit 336 million units, an increase of 19.3%, in the first quarter of 2015, driven by strong sales in emerging markets, excluding China, says a research firm.

28 May 2015 | 4:48PM |

Business News

April online recruitment shrinks 23%

KUALA LUMPUR: Online recruitment in April shrank 23% in April, says Monster Malaysia, a unit of the US-based global online employment solution provider, Monster Worldwide Inc, with operations overseen by India.

28 May 2015 | 1:37PM |

Business News

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