Business

Pressure on ringgit remains unabated

PETALING JAYA: At RM3.85 to the US dollar, the selling pressure on the ringgit remains unabated on the back of two probable developments – first, the widely speculated put option that traders had gone into a few months ago offering RM4 for every US dollar.

Yong Tai signs 5 MoUs involving 5 property projects with GDV of RM7bil

PETALING JAYA: Garment-maker-turned-property developer Yong Tai Bhd has entered into five separate memorandums of understanding (MoUs) to acquire land and businesses that can provide the company with five potential property development projects in the Klang Valley, Malacca and Johor. Yong Tai told Bursa the five projects were expected to carry a combined gross development value (GDV) of RM7bil over the next eight years.

UEM Sunrise wraps up Melbourne 21-storey office tower purchase

KUALA LUMPUR: Property developer UEM Sunrise Bhd has completed the acquisition of a 21-storey office tower in Melbourne, Australia, for A$58mil (RM161mil).

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Myth: You get what you pay for

EVER had someone tell you “you get what you pay for?” May be true in some circumstances; like when you pay RM40,000 for a Myvi, you don’t expect the performance of a RM300,000 BMW, do you?

3 August 2015 | 12:00AM |

Personal Finance

'Outperform' call retained for AirAsia, CIMB 'hold'

AIRASIA announced its second quarter 2015 (ending Dec 31) preliminary operating statistics, with the group reporting an increase in traffic volume by 11.3% year-on-year (5.2% quarter-on-quarter) to 14.2 billion revenue-passenger-kilometres (RPK), although its year-on-year load factor was flat at 79%.

4 August 2015 | 12:00AM |

Analyst Reports

Maybank opens first branch in Yangon

KUALA LUMPUR: Malayan Banking Bhd (Maybank) opened its first branch in Yangon on Monday which will strengthen the group’s international footprint.

3 August 2015 | 5:31PM |

Banking

Yong Tai inks MoUs for RM7b GDV projects

KUALA LUMPUR: Yong Tai Bhd has entered into five MoUs which would provide it with five potential property development projects with a combined gross development value (GDV) of approximately RM7bil over the next eight years.

3 August 2015 | 6:43PM |

Corporate News

KLCI at 2-month closing high; Vietnam falls

BANGKOK: Malaysia's key index hit a two-month closing high on Monday amid a fall in the ringgit and foreign-led buying of shares while Vietnam's benchmark hit a one-month closing low after the latest round of Pacific trade talks concluded at the weekend without a deal.

4 August 2015 | 6:56AM |

Corporate News

SapKen plans joint venture in Brunei

PETALING JAYA: SapuraKencana Petroleum Bhd (SapKen) has proposed to establish a joint-venture (JV) company via its wholly owned subsidiary to explore opportunities in Brunei.

4 August 2015 | 12:00AM |

Oil & Gas

Crude palm oil price slumps to 11-month low

JAKARTA: Malaysian palm oil futures hit an eleven-month low on Monday, as other vegetable oils traded lower and expectations of weak demand and higher output in the coming weeks weighed on prices.

4 August 2015 | 7:03AM |

Palm Oil

Crude palm oil price slumps to 11-month low

JAKARTA: Malaysian palm oil futures hit an eleven-month low on Monday, as other vegetable oils traded lower and expectations of weak demand and higher output in the coming weeks weighed on prices.

4 August 2015 | 7:03AM |

Palm Oil

KLCI at 2-month closing high; Vietnam falls

BANGKOK: Malaysia's key index hit a two-month closing high on Monday amid a fall in the ringgit and foreign-led buying of shares while Vietnam's benchmark hit a one-month closing low after the latest round of Pacific trade talks concluded at the weekend without a deal.

4 August 2015 | 6:56AM |

Corporate News

Seven years after bailout, Britain starts RBS sell-off

LONDON: Britain started the sale of a 2 billion pounds stake in Royal Bank of Scotland (RBS) on Monday, beginning the disposal of its holding in the bank seven years after a multi-billion pound bailout at the height of the financial crisis.

4 August 2015 | 6:45AM |

Banking

AIG profit beats estimates, boosts buyback by US$5bil

NEW YORK: American International Group Inc, the largest commercial insurer in the United States and Canada, reported a quarterly operating profit that breezed past analysts' estimates, and boosted its share buyback by up to US$5 billion.

4 August 2015 | 6:40AM |

Stocks

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