Business

Amin throws in towel, accepts TNB's offer for Integrax

PETALING JAYA: Less than a week after he alluded to making a voluntary general offer (VGO) for Integrax Bhd, Amin Halim Rasip has thrown in the towel to end a three-month battle for the port operator in Lumut.

Farid: Ringgit should trade at 3.30 to US dollar

SINGAPORE: The ringgit should be trading at 3.30 to the US dollar, if one were to take into account the country’s reserves and the difference between the spot forward rates, said Malayan Banking Bhd (Maybank) group president and chief executive officer Datuk Abdul Farid Alias. He said that liquidity flow, alongside greed and fear, had caused the ringgit to trade at the 3.70 level.

Tajuddin flanked by Bursa director of regulations Selvarany Rasiah (left) and director of corporate services Rosidah Baharom at Bursa Malaysia’s 38th AGM in Kuala Lumpur.

Bursa CEO: GST on services rendered only

KUALA LUMPUR: The 6% goods and services tax (GST) will not be imposed on securities, but only on the services rendered during a transaction, said Bursa Malaysia chief executive officer Datuk Tajuddin Atan.

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Tough operating outlook for Parkson in China

KUALA LUMPUR: Kenanga Investment Bank Research expects the Parkson group to face a tough operating environment due to weaker consumer sentiments particularly in China market, which is the main revenue contributor for the group.

1 April 2015 | 3:18PM |

Corporate News

Cash call imminent for MRCB ahead of Kwasa Land project

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) could likely undertake a cash call for its 70% stake in the special purpose vehicle (SPV) with Kwasa Land to undertake the development project in the Rubber Research Institute land in Sungai Buloh.

1 April 2015 | 1:42PM |

Analyst Reports

Parkson Holdings expects RM45m impact on earnings

KUALA LUMPUR: Parkson Holdings Bhd expects its earnings for FY ending June 30, 2015 to be reduced by RM45mil or four sen per share following a property dispute involving its Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRG).

1 April 2015 | 2:14PM |

Corporate News

Car dealers can claim sales tax refund

PETALING JAYA: Local car companies can claim the 10% sales tax on unsold stock after the implementation of the goods and services tax (GST) – if they can produce documented proof of purchase.

1 April 2015 | 12:00AM |

Auto

Proton reduces car prices by up to 3.25% with GST implementation

KUALA LUMPUR: In light of the implementation of the Goods and Services Tax (GST) which comes into force today, Proton Holdings Bhd has announced the new prices for its models, with reduction of up to RM1,475, or 3.25%, per unit on selected variants.

1 April 2015 | 10:55AM |

Auto

Bousted plantations to expand landbank

PETALING JAYA: Boustead Plantations Bhd will expand its landbank by another 20 per cent within two to three years from the current 83,400 hectares, says vice chairman, Tan Sri Lodin Wok Kamaruddin.

1 April 2015 | 3:35PM |

Plantations

Tough operating outlook for Parkson in China

KUALA LUMPUR: Kenanga Investment Bank Research expects the Parkson group to face a tough operating environment due to weaker consumer sentiments particularly in China market, which is the main revenue contributor for the group.

1 April 2015 | 3:18PM |

Corporate News

Parkson Holdings expects RM45m impact on earnings

KUALA LUMPUR: Parkson Holdings Bhd expects its earnings for FY ending June 30, 2015 to be reduced by RM45mil or four sen per share following a property dispute involving its Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRG).

1 April 2015 | 2:14PM |

Corporate News

Cash call imminent for MRCB ahead of Kwasa Land project

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) could likely undertake a cash call for its 70% stake in the special purpose vehicle (SPV) with Kwasa Land to undertake the development project in the Rubber Research Institute land in Sungai Buloh.

1 April 2015 | 1:42PM |

Analyst Reports

Karex slumps after reduced to Hold

KUALA LUMPUR: Karex Bhd’s share price hit a speed bump on Wednesday after a research house downgraded the condom maker from Add to Hold.

1 April 2015 | 11:33AM |

Markets

New York court dismisses foreclosure lawsuit against HSBC

NEW YORK: A court in Buffalo, New York, dismissed a petition on Monday filed by New York state, alleging that HSBC Holdings Plc ignored a law designed to protect homeowners from being thrown into foreclosure without getting a chance to renegotiate their mortgages.

1 April 2015 | 10:59AM |

Banking

Proton reduces car prices by up to 3.25% with GST implementation

KUALA LUMPUR: In light of the implementation of the Goods and Services Tax (GST) which comes into force today, Proton Holdings Bhd has announced the new prices for its models, with reduction of up to RM1,475, or 3.25%, per unit on selected variants.

1 April 2015 | 10:55AM |

Auto

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