Hong Leong Bank posts higher earnings

KUALA LUMPUR: Hong Leong Bank Bhd posted higher earnings of nearly RM520mil in the third quarter ended March 31, 2015 underpinned by healthy growth in net interest income, improved asset quality and strong profit contribution from associates.

PUBLIC Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed speaks during a press conferences after he a meeting at Parliament today.AZHAR MAHFOF/The star (25/5/2019)

Auditors under scrutiny in 1MDB probe

PETALING JAYA: The auditors of 1Malaysia Development Bhd (1MDB) will now be the focus of the inquiry by the Public Accounts Committee (PAC) after two key witnesses asked for a delay to appear before the committee.

TNB loses RM6bil in value over six days

PETALING JAYA: The mere speculation of purchasing the power assets under 1Malaysia Development Bhd (1MDB) had caused Tenaga Nasional Bhd (TNB) to lose some RM6bil in value over the last six trading days.

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Bumi Armada unit faces RM113m claim

KUALA LUMPUR: Bumi Armada Bhd’s unit is facing a claim of 28.5mil euros (RM113mil) from SEA Srl over a service contract for the post trenching and backfilling services.

26 May 2015 | 10:02AM |

Corporate News

Malaysian stocks continue downtrend

PETALING JAYA: Bucking the trend of Asian markets that were generally on an uptrend, the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) continued its downtrend, as it shed another 20.12 points or 1.13% to close at 1,767.38 points yesterday on the back of rising political undercurrents in the market. While global investors were net purchasers of Asian equity last week, they continued to be net sellers of Malaysian equity.

26 May 2015 | 12:00AM |


EPF i-Akaun usage increases 100%

KUALA LUMPUR: The usage of i-Akaun, an online facility to check Employees Provident Fund (EPF) savings, has increased to over 100% in the first quarter ended March 31.

25 May 2015 | 6:10PM |

Business News

Accounting grads get head start to professional qualifications

KUALA SELANGOR: Towards meeting Malaysia's requirement for 60,000 qualified accountants by 2020, two memoranda of understanding (MoU) were exchanged today between Talent Corporation Malaysia Bhd TalentCorp), Universiti Teknologi MARA (UiTM) and two professional accounting bodies - CPA Australia and the Chartered Institute of Management Accountants (CIMA).

25 May 2015 | 4:21PM |

Business News

French firm keen to bid for HSR project

KUALA LUMPUR: French multinational, Alstom is keen to bid for the 300km High-Speed Rail (HSR) linking Kuala Lumpur and Singapore project to further strengthen its presence in Malaysia.

26 May 2015 | 7:07PM |

Go downstream, Palanivel urges mining industry

KUALA LUMPUR: Minister of Natural Resources and Environment Datuk Seri G. Palanivel has urged the mining industry to look seriously into developing downstream industries rather than exporting raw minerals.

26 May 2015 | 6:57PM |

QL Resources net profit jumps almost 21%

KUALA LUMPUR: QL Resources Bhd's net profit widened for the fourth quarter ended March 31, 2015 to RM46.69mil, an increase of almost 21%, from RM38.61mil a year ago due to higher sales from Marine Product Manufacturing (MPM) and Integrated Livestock Farming (ILF) segments.

26 May 2015 | 6:49PM |

Business News

SMEs to adopt e-Payment services, says BNM

BUTTERWORTH: The National e-Payment Roadshow is aimed at creating greater awareness among small and medium enterprises (SMEs) including micro businesses, to adopt e-payment services, says Bank Negara Malaysia (BNM).

26 May 2015 | 5:05PM |

Business News

Moody's keep Stable on Malaysia's banking system

SINGAPORE: The outlook of the Malaysian banking system is stable over the next 12 to 18 months due to a continued high degree of government support to the sector as well as bank’s strong capital and stable funding levels, says Moody’s Investors Service (Moody's).

26 May 2015 | 4:57PM |

Business News

AmMetLife Takaful appoints new CEO

KUALA LUMPUR: AmMetLife Takaful Berhad (AmMetLife Takaful) announced that it has received regulatory approval from Bank Negara Malaysia (BNM) to appoint Mohamad Salihuddin Ahmad as its new chief executive officer (CEO) effective 14 May 2015.

26 May 2015 | 4:40PM |

Business News

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