Business

Shamsul on governance

Former Petronas CEO gives his views on why the national oil company must stick to the spirit of the Petroleum Development Act.

The group bought Sunway Putra Place, which comprises a hotel and an office block, during a public auction in 2011 for RM522mil. Refurbishment of the office and hotel component is expected to be completed next year.

‘Critical’ stage of retail

THE Sunway Group expects the retail sector to be “extremely competitive” with 40 malls anticipated to enter the market in Greater Kuala Lumpur next year.

FGV biodiesel plant in Kuantan, Pahang.

Weak ringgit may delay deal

THE due dilligence report on Indonesia-based PT Eagle High Plantations Tbk by Felda Global Ventures Holdings Bhd (FGV) may appear to be in full swing and nearing completion.

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Chinese bank eyes stake in AMMB?

A CHINESE financial institution is eyeing a stake in AMMB Holdings Bhd, whose major shareholders are said to be open to divesting their stakes.

5 September 2015 | 12:00AM |

Banking

AirAsia on track with turnaround plans

KUALA LUMPUR: AirAsia group is on track with its turnaround plans and fund raising exercise for both Indonesia and Philippines units, according to Public Invest Research.

4 September 2015 | 8:38AM |

Airlines

‘To bring about change, you must not want the job’

IN January, Tan Sri Shamsul Azhar Abbas, the-then president and chief executive officer (CEO) of Petroliam Nasional Bhd (Petronas), received a picture of his son in school from his wife. He broke down, realising how much he had missed the child growing up.

5 September 2015 | 12:00AM |

Oil & Gas

Eye on stock: IFCA MSC

A MASSIVE rally recently sent IFCA MSC Bhd shares to an all-time high of RM1.87 on May 20.

5 September 2015 | 12:00AM |

Stocks

Azmi: ‘The PDP will start work immediately, for approval works and to confirm the technical design characteristics.’
icon video

MRCB and George Kent chosen for the RM9bil LRT3 project

PRASARANA Malaysia Bhd has appointed Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd as the project delivery partner (PDP) for the light rail transit three (LRT3), which is estimated to cost RM9bil.

5 September 2015 | 12:00AM |

LRT3

MRCB, George Kent jump after picked for LRT3 job

KUALA LUMPUR: Shares of Malaysian Resources Corp Bhd (MRCB) and George Kent closed higher on Friday after they were picked as project-delivery partner for the RM9bil light rail transit three (LRT 3) project.

4 September 2015 | 7:15PM |

Markets

Unfriendly city: St. Basil’s Cathedral, known for its colorful turrets and domes, dominates Red Square in Moscow and dates to the 16th century. A global survey has concluded that Moscow is the most unfriendly city in the world – Los Angeles Times

From Russia without love

A global survey by Travel & Leisure reproduced by the Independent newspaper recently concluded that Moscow is the most unfriendly city in the world.

5 September 2015 | 12:00AM |

jaya

Oil and gas veteran's take on oil prices

IF what former Petroliam Nasional Bhd (Petronas) president and chief executive officer Tan Sri Shamsul Azhar Abbas says is true, then the oil and gas (O&G) industry has to go through a perilous three or even four years of low price environment before it sees the heady days of hitting dizzy heights of US$100 or more per barrel.

5 September 2015 | 12:00AM |

Oil & Gas

Oil falls with Wall St

NEW YORK: Crude futures fell about 2 percent on Friday as traders paid little heed to a drop in the number of U.S. rigs drilling for oil and focused instead on a supply glut and declining stock prices on Wall Street.

5 September 2015 | 11:55AM |

Oil & Gas

Reserves up after months of dips

KUALA LUMPUR: The country’s international reserves rose RM1.3bil to RM357.7bil (US$94.7b) as at Aug 28 from two weeks ago, Bank Negara said.

5 September 2015 | 12:00AM |

Banking

Capturing growth for IHH

AS the leader of Asia’s largest healthcare group and the world’s second largest to boot, IHH Healthcare Bhd’s Dr Tan See Leng is no stranger to the wider industry in the region.

5 September 2015 | 12:00AM |

Life & Style

Wall Street caps off tough week with a steep loss

NEW YORK: U.S. stock indexes dropped more than 1 percent on Friday after a mixed August jobs report did little to quell investor uncertainty about whether the Federal Reserve will increase interest rates this month.

5 September 2015 | 11:58AM |

Economy

Oil falls with Wall St

NEW YORK: Crude futures fell about 2 percent on Friday as traders paid little heed to a drop in the number of U.S. rigs drilling for oil and focused instead on a supply glut and declining stock prices on Wall Street.

5 September 2015 | 11:55AM |

Oil & Gas

Chinese bank eyes stake in AMMB?

A CHINESE financial institution is eyeing a stake in AMMB Holdings Bhd, whose major shareholders are said to be open to divesting their stakes.

5 September 2015 | 12:00AM |

Banking

News in brief

The Trans-Pacific Partnership (TPP) negotiations are ongoing and there are a few niggles to be ironed out before everything is primed for a vote in Parliament whether to accept or reject the trade agreement.

5 September 2015 | 12:00AM |

Corporate News

CIDB CEO Datuk Seri Ir. Judin Abdul Karim speaks at the media night with Works Minister in Kuala Lumpur on December 1, 2014.ROHAIZAT MD DARUS/STAR.

CIDB plans to make 3D modeling mandatory

KUALA LUMPUR: The Construction Industry Development Board (CIDB) is thinking of making it mandatory for builders to submit three-dimensional (3D) models of buildings before construction work started.

5 September 2015 | 12:00AM |

Construction

SLP plans RM25mil facility in Kulim

ARMED with some RM23mil of cash, SLP Resources Bhd, a plastics packaging company, plans to establish a new RM25mil manufacturing facility adjacent to its present plant in Kulim.

5 September 2015 | 12:00AM |

Corporate News

New landmark: (from left) Beulah International executive director Adelene Teh; Fajarbaru-Beulah executive director Jiaheng Chan; Mcleish; Scott; Lee; Fajarbaru Builder Group executive director Ooi Leng Chooi; Fajarbaru-Beulah director Eric Kuan; Fajarbaru Properties general manager Yau Tuck Wai and Sammartino at the ceremony. — Bernama

M’sian, Aussie firms urged to start JV projects

MELBOURNE: Malaysian and Australian companies have been urged to start joint-venture projects to generate economic and social benefits for both countries, said Deputy Minister for International Trade and Industry, Datuk Lee Chee Leong.

5 September 2015 | 12:00AM |

Earnings

Reserves up after months of dips

KUALA LUMPUR: The country’s international reserves rose RM1.3bil to RM357.7bil (US$94.7b) as at Aug 28 from two weeks ago, Bank Negara said.

5 September 2015 | 12:00AM |

Banking

Perodua to maintain prices despite weak ringgit

PETALING JAYA: Perodua is maintaining the prices of its vehicles although the weakening of the ringgit against the US dollar has affected the carmaker’s pre-tax profit by 5%.

5 September 2015 | 12:00AM |

Auto

China risks weigh on world markets

KUALA LUMPUR: The slowdown in China’s economy will weigh on global growth because of its significance in terms of trade and as a major consumer of commodities, Swiss investor and fund manager Dr Marc Faber said.

5 September 2015 | 12:00AM |

Economy

Moody’s downgrades Sime Darby’s sukuk and notes

KUALA LUMPUR: Moody’s Investors Service has downgraded the outlook for Sime Darby Bhd’s sukuk and medium-term note (MTN) programme to “negative” as the diversified conglomerate – which is involved in plantations, property and motors – had been impacted across the board.

5 September 2015 | 12:00AM |

Plantations

Unfriendly city: St. Basil’s Cathedral, known for its colorful turrets and domes, dominates Red Square in Moscow and dates to the 16th century. A global survey has concluded that Moscow is the most unfriendly city in the world – Los Angeles Times

From Russia without love

A global survey by Travel & Leisure reproduced by the Independent newspaper recently concluded that Moscow is the most unfriendly city in the world.

5 September 2015 | 12:00AM |

jaya

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