Business

IJM streamlines The Light Waterfront project

PETALING JAYA: IJM Corp Bhd has announced a related-party transaction which involves the transfer of The Light Waterfront development in Penang from Jelutong Development Sdn Bhd to Aura Hebat Sdn Bhd (AHSB). Both companies are its subsidiaries.

Datuk Abdullah Karim chair press conference about Petronas Floating LNG1.next are Colin Wong.

Petronas cuts cost with new vessels

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which is building two floating liquefied natural gas (FLNG) facilities, said the new vessels would lower the production cost of smaller gas fields.

Ooi: ‘The discussions are on potential changes or additions to the project’s scope of works.’

LRT extension job to lift George Kent earnings

PETALING JAYA: George Kent (M) Bhd, an engineering specialist, expects the acceleration of works at the RM1.1bil Ampang Light Rail Transit, or LRT line extension project, to boost its earnings for the financial year ending Jan 31, 2016.

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In search of yields

Uncertain interest rate environment makes it tough for EPF to invest

21 April 2015 | 12:00AM |

PDEPF

Matrix Concepts buys land in Puchong

KUALA LUMPUR: Property developer, Matrix Concepts is acquiring a 5.8 acre land from IRDK Ventures Sdn Bhd for a residential development project in Puchong, Selangor for RM95mil.

21 April 2015 | 5:42PM |

Business

Strong buying of Genting, PetChem boosts market

KUALA LUMPUR: Strong buying of Genting Bhd and Petronas Chemicals Group Bhd by institutions, along with persistent interest in lower liners helped propel the FBM KLCI to close at 1,862 points, the highest since September 2014.

22 April 2015 | 12:00AM |

Market

CIMB Thai posts RM35mil profit in first quarter

PETALING JAYA: CIMB Thai Bank PCL, a unit of the CIMB Group, posted a 70% drop in net profit to 310.3 million baht (RM34.9mil) for the first quarter ended March 31 from a year ago, as the bank more than doubled its loan loss provisions.

22 April 2015 | 12:00AM |

CIMB Thai

Yee Lee inks distribution deal

PETALING JAYA: Fast-moving consumer goods distributor Yee Lee Corp Bhd has inked a five-year distribution partnership agreement with Allexcel Trading Sdn Bhd to exclusively market, distribute and sell the latter’s products, inclusive of the well-known Red Bull energy drinks.

22 April 2015 | 12:00AM |

Yee Lee

Boilermech inks deal with Aussie firm

PETALING JAYA: Boilermech Holdings Bhd has entered into a 15-year agreement with Australia-based Commonwealth Scientific and Industrial Research Organisation (CSIRO) for the commercialisation of the latter’s patents, patent applications and know-how.

22 April 2015 | 12:00AM |

Boilermech

Signature eyes more contracts

PETALING JAYA: Kitchen and wardrobe manufacturer Signature International Bhd (SIB) is hoping to win more contracts this year, with the increase in the supply of residential property in the country.

22 April 2015 | 12:00AM |

signature

Concerns on Credit Suisse

ZURICH: Speculation that incoming Credit Suisse chief executive Tidjane Thiam could raise cash to boost the bank’s balance sheet overshadowed a forecast-beating increase in first-quarter net profit.

22 April 2015 | 12:00AM |

Foreign News

IBM sales down for 12th quarter

SAN FRANCISCO: International Business Machines Corp (IBM) reported a 12% fall in first-quarter revenue as the technology company continues to shed unprofitable businesses to focus on cloud-computing initiatives.

22 April 2015 | 12:00AM |

Foreign News

Group sees thousands of US jobs from trade deal

WASHINGTON: The 12-nation Pacific trade pact would create nearly a quarter of a million US jobs due to increased foreign investment in the United States, a business group estimated, in the first look at the deal’s employment impact.

22 April 2015 | 12:00AM |

Foreign News

Oil unlikely to hit new 2015 lows, say traders

LAUSANNE (Switzerland): Oil prices could weaken again but they are unlikely to plumb new depths this year, leading commodities traders said on Tuesday, citing strengthening demand. - Reuters

21 April 2015 | 11:37PM |

Oil & Gas

Yee Lee to distribute Red Bull energy drinks

PETALING JAYA: Yee Lee Corp Bhd, which distributes brands from Red Eagle to Spritzer, has been appointed the exclusive distributor of Red Bull Gold, Red Bull Less Sugar and Red Bull Bottle energy drinks by Allexcel Trading Sdn Bhd.

21 April 2015 | 11:29PM |

Corporate News

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