Business

MAB keeps 9,000 permanent staff

PETALING JAYA: The new Malaysia Airlines Bhd (MAB) has hired only 9,000 of its employees on permanent contracts. Another 4,000 employees of MAB are on short-term contracts.

Destini Berhad group managing director Datuk Rozabil Abdul Rahman duirng the interview on the group’s outlook and acquisitions.— IZZRAFIQ ALIAS / The Star. July 7, 2015.

Shot in the arm for Destini

PETALING JAYA: Minister of Finance Inc (MoF) unit Aroma Teraju Sdn Bhd has emerged as the second-largest shareholder of engineering specialist firm Destini Bhd, confirming a report by StarBiz on Monday entitled MoF courts Destini.

Naza Kia Malaysias newly launched Sportage 2WD sports-utility vehicle.

Naza launches new sports-utility vehicle

PETALING JAYA: Naza Kia Malaysia, the official distributor of Kia vehicles in Malaysia, expects its newly-launched Sportage 2WD sports-utility vehicle (SUV) to contribute 10% to the total sales target this year.

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Ringgit down on Fitch downgrade warning

SINGAPORE: Most emerging Asian currencies resumed falling on Wednesday as fears over global growth and downbeat factory activity reports drove investors from risky assets including stocks.

2 September 2015 | 2:16PM |

Forex

The rich poorer by RM16bil

PETALING JAYA: Malaysia’s top 30 wealthiest business magnates are poorer by an estimated RM16.1bil in paper wealth in just over a month, following the fall in the stock market.

2 September 2015 | 12:00AM |

Stocks

KL-Singapore HSR details to be known in 2 years

KUALA LUMPUR: Details of the contracts for the construction of the KL to Singapore high speed rail will likely be known in two years, said the Land Public Transport Commission's chief development officer Prodyut Dutt.

2 September 2015 | 12:25PM |

Corporate News

Scomi inks global LRT, MRT partnership with Skoda

KUALA LUMPUR: Scomi Engineering Bhd has teamed up with Czech transport engineering company, Skoda Transportation to tap into the global light rapid transit (LRT) and mass rapid transit (MRT) business.

2 September 2015 | 4:43PM |

Markets hit fresh turbulence, KLCI below 1600

KUALA LUMPUR: Malaysia’s stock market hit fresh turbulence early Wednesday, with the key FBM KLCI falling below the key 1,600 level after the overnight tumble on Wall Street and a fall in crude oil prices.

2 September 2015 | 9:53AM |

Markets

Oil retreats more than $5 on weak data

NEW YORK: Oil prices plummeted on Tuesday, settling 8 percent lower, as weak Chinese data extended a roller-coaster run that knocked oil to its lowest in 6-1/2 years last week before frenzied short-covering fueled a 25 percent three-session surge.

2 September 2015 | 8:10AM |

Markets

Maybank sets up RM10b MTN programme

KUALA LUMPUR: Malayan Banking Bhd has set up a senior medium term note (MTN) programme totalling RM10bil to fund its working capital, general banking and other corporate purposes.

2 September 2015 | 7:49PM |

Banking

Maybank weighs on KLCI as ringgit loses ground again

KUALA LUMPUR: Maybank, AmBank and Public Bank were among the biggest losers at the midday break on Wednesday as the key FBM KLCI lost more than 12 points, extending its losses for the second day following the volatile external equities and commodities markets.

2 September 2015 | 1:13PM |

Markets

Firmer start for KLCI as TM and Tenaga lead

KUALA LUMPUR: Blue chips staged a mild rebound in early Thursday trade as investor sentiment perked up after the firmer overnight close on Wall Street, with some fund buying of key stocks Telekom Malaysia and Tenaga Nasional.

3 September 2015 | 9:48AM |

Markets

AmResearch maintains Buy on Econpile

KUALA LUMPUR: AmResearch maintains its Buy on Econpile Holdings Bhd with an unchanged fair value of RM1.50 a share, which is based on 14 times FY16F price-to-earnings (PE).

3 September 2015 | 9:16AM |

Analyst Reports

Stocks rise as China fears ease

NEW YORK: Global stock indexes rose on Wednesday, helped by reports of brokerage measures in China to invigorate the country's battered markets, while oil bounced from earlier losses to end nearly 2 percent higher.

3 September 2015 | 8:04AM |

Markets

Wall Street surges as turbulence becomes the norm

NEW YORK: Wall Street stocks jumped almost 2 percent on Wednesday in the latest volatile session as investors weighed the impact of a stumbling Chinese economy and global market turmoil on the Federal Reserve's impending decision about when to raise interest rates.

3 September 2015 | 7:59AM |

Markets

Nirvana net profit soars to RM136mil

PETALING JAYA: Hong Kong-listed Nirvana Asia Ltd posted a higher net profit of RM136.1mil for the first half ended June 30, 2015 compared with RM44mil in the same period a year ago.

3 September 2015 | 12:00AM |

Nirvana

New landmark: An artist’s impression of Agile Mont Kiara, a 10-acre freehold residential development by Agile Real Estate.

China developer to launch RM1.2bil project

PETALING JAYA: Hong Kong Stock Exchange-listed Agile Property Holdings Ltd is proving that there is good demand for Mont Kiara living by building a RM1.2bil residential project there.

3 September 2015 | 12:00AM |

agile

Maybank unveils RM10bil debt programme

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has set up a senior medium-term note (MTN) programme totalling RM10bil to fund its working capital, general banking and other corporate purposes.

3 September 2015 | 12:00AM |

maybank

Global stock selloff hits ringgit

KUALA LUMPUR: Malaysia’s ringgit fell the most in a week amid a global selloff in equities and as energy prices slumped on signs China’s economy is slowing.

3 September 2015 | 12:00AM |

ringgit

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