Business

Ultimatum for Malaysia Airlines unions

PETALING JAYA: The proposed law governing Malaysia Airlines Bhd (MAB), the new company that will take over Malaysian Airlines System Bhd (MAS), spells out clearly the terms that ensure unions and associations come to the negotiating table within a stipulated timeframe or risk losing out in any decision-making.

Khazanah is looking to re-negotiate MAS’ contracts with the employees and suppliers, as well as reducing the workforce by some 6,000 people.

Full immunity for Malaysia Airlines administrator

PETALING JAYA: The administrator of Malaysia Airlines (MAS) will have full immunity when exercising its power in running the operations of the national carrier.

Ooi (left) and Tey speaking to the media.

Drama at Protasco EGM, new twist in boardroom tussle

KUALA LUMPUR: It was supposed to be D-Day for Protasco Bhd shareholders as they were to vote on removing company directors at an EGM.

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Kuwait Finance House CEO resigns

PETALING JAYA: Datuk Seri Abdul Hamidy Abdul Hafiz, the chief executive officer (CEO) of Kuwait Finance House (M) Bhd (KFH), has tendered his resignation.

27 November 2014 | 12:00AM |

Stocks

Foreign funds turn net sellers on Bursa Malaysia

KUALA LUMPUR: Malaysia’s blue chips slipped in early Thursday trade on some selling on Telekom Malaysia, Petronas Dagangan and SapuraKencana Petroleum (SKPetro) after the recent buying interest while foreign funds were net sellers the previous day.

27 November 2014 | 9:35AM |

Corporate News

Maybank poised for better 2015, says CIMB Research

KUALA LUMPUR: CIMB Equities Research said while 2014 has proven to be a tough one for Malayan Banking (Maybank), it envisages better prospects in 2015, premised on improvements in the operating environment in Indonesia, and the stabilised growth in Malaysia.

27 November 2014 | 8:38AM |

Analyst Reports

The headquarters of Commerzbank (centre) juts out between the euro sign and the ECB in Frankfurt, Germany. The announcement by one of the country’s biggest lenders, Commerzbank, that it will start charging clients with high deposits on their accounts has angered many. — EPA

ECB’s negative interest rates under fire in Germany

FRANKFURT: The European Central Bank (ECB) is under fire in Germany because of its policy of negative interest rates, which is prompting some banks to charge customers for holding money in their bank accounts.

27 November 2014 | 12:00AM |

Stocks

National Automotive Policy review in mid-January

KUALA LUMPUR: The International Trade and Industry Ministry plans to reveal the progress of the National Automotive Policy (NAP) 2014 and announce details of a few companies that have decided to set up facilities for energy-efficient vehicles (EEV) here in the middle of next January.

26 November 2014 | 12:00AM |

Auto

Husni: ‘We expect two more companies to be listed by year-end’.

Teraju creates RM46.5bil worth of business

KUALA LUMPUR: The Government’s Bumiputra Agenda Steering Unit (Teraju) established in 2011, has created some RM46.5bil worth of business opportunities, financing and human capital development for bumiputras as at June this year.

26 November 2014 | 12:00AM |

Stocks

Weaker revenues for Telekom Malaysia

KUALA LUMPUR: CIMB Equities Research said Telekom Malaysia’s core net profit for the third quarter ended Sept 30, 2014 (Q3, FY14) fell 10.5% on-quarter (-29.1% on-year) due to lower revenues across all business segments.

27 November 2014 | 8:54AM |

Analyst Reports

Foreign funds turn net sellers on Bursa Malaysia

KUALA LUMPUR: Malaysia’s blue chips slipped in early Thursday trade on some selling on Telekom Malaysia, Petronas Dagangan and SapuraKencana Petroleum (SKPetro) after the recent buying interest while foreign funds were net sellers the previous day.

27 November 2014 | 9:35AM |

Corporate News

Weaker revenues for Telekom Malaysia

KUALA LUMPUR: CIMB Equities Research said Telekom Malaysia’s core net profit for the third quarter ended Sept 30, 2014 (Q3, FY14) fell 10.5% on-quarter (-29.1% on-year) due to lower revenues across all business segments.

27 November 2014 | 8:54AM |

Analyst Reports

Maybank poised for better 2015, says CIMB Research

KUALA LUMPUR: CIMB Equities Research said while 2014 has proven to be a tough one for Malayan Banking (Maybank), it envisages better prospects in 2015, premised on improvements in the operating environment in Indonesia, and the stabilised growth in Malaysia.

27 November 2014 | 8:38AM |

Analyst Reports

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