Business

Moody's take on 1MDB

KUALA LUMPUR: There is a worry that Malaysia’s fiscal consolidation may be derailed should the Government be forced to assist 1Malaysia Development Bhd (1MDB) financially.

Petronas to end gasoil storage at Tanjung Langsat

SINGAPORE: Petroleum Nasional Bhd (Petronas) is not planning to renew its lease to store gasoil at Tanjung Langsat Terminal (One) in Johor, southern Malaysia, once its contract ends in late May, industry sources close to the matter said.

Intel shifts Kulim ops to China and Vietnam, 600 let off

GEORGE TOWN: Chip-making leader Intel Corp is relocating some of its mature products to China and Vietnam from the facility in Kulim, and has started relieving some of the workers attached to them. Sources told StarBiz that the Kulim facility has for the past weeks let off about 600 workers involved in manufacturing

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Felda Global Ventures shares plunge to new low

PETALING JAYA: Shares in Felda Global Ventures Holdings Bhd (FGV) plunged to a new low following rating cuts by analysts after the company posted its worst-ever quarterly results since its listing in 2012. The weaker selling price of crude palm oil (CPO), which is down 4% year-to-date, contributed to the company’s depressed earnings outlook.

28 May 2015 | 12:00AM |

Palm Oil

1MDB audited assets worth RM51.4b

KUALA LUMPUR: The total worth of 1Malaysia Development Bhd (1MDB) audited assets for the financial year ended March 31, 2014 was RM51.4 billion, the Dewan Rakyat was told on Wednesday.

27 May 2015 | 4:09PM |

Business News

Probe on 1MDB's BSI account

KUALA LUMPUR: Bank Negara has handed over the investigative findings on 1Malaysia Development Bhd’s (1MDB) controversial investment in BSI Bank Ltd in Singapore to the relevant enforcement agencies.

27 May 2015 | 12:00AM |

Banking

Jamal declines to be re-elected

KUALA LUMPUR: Icon Offshore Bhd chief executive officer Dr Jamal Yusof, who is assisting the Malaysian Anti-Corruption Commission (MACC) in investigations into the company’s affairs, has withdrawn his offer to be re-elected to the board of the oil and gas services provider.

28 May 2015 | 12:00AM |

Stocks

Questions arise about banks' role in FIFA bribery case

WASHINGTON: A raft of banks could face tough questions in the sweeping U.S. crackdown on alleged corruption in global football as prosecutors review how much they knew about millions of dollars in bribes flowing through the U.S. banking system to accounts around the world.

28 May 2015 | 10:49AM |

Banking

K-One Technology skids in heavy trade

KUALA LUMPUR: K-One Technology’s shares and warrants fell sharply in early Thursday trade after it posted sharply lower earnings in the first quarter ended March 31, 2015 on investor fears of weaker financial performance ahead.

28 May 2015 | 9:44AM |

Corporate News

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