Business

Upside for ringgit

PETALING JAYA: The worst seems to be over for the ringgit for now.

Market rally seen temporary

PETALING JAYA: The local stock market and the ringgit rallied to their best levels in weeks after Fitch Ratings upgraded its outlook on Malaysia’s government debt to “stable” from “negative”, but market observers warn that the relief may be temporary as concerns continue to loom.

UEM Sunrise bets on landed properties

NUSAJAYA: UEM Sunrise Bhd sees demand for landed residential properties in Iskandar Malaysia remaining good, as most prospective property buyers still prefer this type of properties.

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MRCB gets RM1bil Bukit Jalil stadium job

PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) is tipped to refurbish the various sports facilities at the National Sports Complex (NSC) in Bukit Jalil, including the 17-year-old Bukit Jalil Stadium, which is the main venue for sporting events in the country.

1 July 2015 | 12:00AM |

Stocks

New township: An artist impression of Bandar Malaysia.

1MDB land spurs interest

PETALING JAYA: 1Malaysia Development Bhd’s (1MDB) land parcels have generated a lot of interest. In two separate statements, 1MDB said it had received “a lot of enquiries for its Bandar Malaysia land” and “proposals” for its land in Air Itam in Penang and Pulau Indah near Port Kiang, Selangor.

1 July 2015 | 12:00AM |

Property

How much does Greece owes to international creditors?

BRUSSELS: Greece, which is set to default on an International Monetary Fund debt repayment due on Tuesday, owes official lenders 242.8 billion euros ($172.03 billion pounds), according to a Reuters calculation based on official data.

1 July 2015 | 7:10AM |

Economy

Market and ringgit rally on Fitch upgrade (Update)

KUALA LUMPUR: Malaysia’s equities market and the ringgit notched one of their best gains in a week after Fitch Ratings’ surprise announcement to raise the outlook on Malaysia’s currency ratings to Stable.

1 July 2015 | 5:48PM |

Markets

Maybank to heighten visibility in the US with new appointment

NEW YORK: Malayan Banking Bhd (Maybank) New York has hired Peter Sonza, former executive director and head of the loan markets group at Sumitomo Mitsui Banking Corp (SMBC), as head of corporate banking and loan syndication, according to an internal memo obtained by Thomson Reuters LPC.

1 July 2015 | 10:44PM |

Banking

Bumi Armada boosts allocation for FPSO operations

KUALA LUMPUR: Bumi Armada Bhd has revised how its rights issue’s gross proceeds of RM1.979bil will be utilised, raising the allocation for its floating production, storage and offloading (FPSO) and the new floating gas solutions (FGS) business units.

1 July 2015 | 8:28PM |

Corporate News

China June factory, services surveys fuel hopes economy leveling out

BEIJING: Activity in China's factory sector expanded slightly in June though not as much as expected, while growth in the services sector sped up, official surveys showed, offering some signs that the world's second-largest economy may be starting to slowly level out after a raft of support measures.

1 July 2015 | 11:47AM |

Economy

Cypark tweaks private placement plan due to market conditions

KUALA LUMPUR: Cypark Resources Bhd has revised its private placement plan in line with its falling share price. The proposed placement will now be made in tranches, with the issue price of the first tranche being set 10.7% lower than what the company had indicated back in February.

2 July 2015 | 12:36AM |

Corporate News

Keladi Maju names new MD

PETALING JAYA: Keladi Maju Bhd, a property developer controlled by Tan Sri Robert Tan Hua Choon, has appointed former IJM Corp Bhd chief executive officer Datuk Teh Kian Meng its managing director.

2 July 2015 | 12:00AM |

keladi Maju

May exports seen falling

KUALA LUMPUR: Malaysia’s May exports probably fell due to slow demand for liquefied natural gas and manufactured exports, a Reuters poll showed.

2 July 2015 | 12:00AM |

malaysian

TM rises from 7-month low after Fitch upgrade

PETALING JAYA: Shares of Telekom Malaysia Bhd (TM) climbed from a seven-month low after Fitch Ratings upgraded the telecommunications company’s debt outlook from negative to stable.

2 July 2015 | 12:00AM |

Fitch

Innity sees up to 30% growth in digital adex

PETALING JAYA: Innity Corp Bhd, an online media and advertising technology provider, expects its digital advertising expenditure (adex) to grow at an average of 20% to 30% year-on-year across the region.

2 July 2015 | 12:00AM |

Innity

Eden to incur loss on sale of Kuantan land

PETALING JAYA: Eden Inc Bhd’s proposed disposal of a 80.2-acre plot of vacant land in Kuantan will incur a net loss of RM454,000 for the company due to incidental costs to be incurred in connection with the proposed disposal.

2 July 2015 | 12:00AM |

Eden

Kenanga sees Bumi Armada doubling earnings in two years

PETALING JAYA: Bumi Armada Bhd is expected to double its earnings in the next two years with the commencement some of its floating production, storage and offloading vessels (FPSOs) that are currently under conversion, according to Kenanga Research.

2 July 2015 | 12:00AM |

Bumi Armada

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