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RAM Ratings rates Tan Chong Motor’s RM1.5b MTN, RM1.5b CPs

20 October 2014

KUALA LUMPUR: RAM Rating Services has assigned preliminary ratings of AA2/Stable and P1 to Tan Chong Motor Holdings Bhd’s (TCMH) proposed RM1.5bil medium-term notes (2014/2034) and RM1.5bil commercial papers (2014/2021).

KWAP, Tremendous Asia Partners buy 60% stake of Munchy

20 October 2014

KUALA LUMPUR: Tremendous Asia Partners Group (TAP) and Kumpulan Wang Persaraan (diPerbadankan) (KWAP) are taking a combined 60% stake in food and confectionary manufacturer Munchy Group.

Banks, SKPetro power KLCI rally to close above 1,800 (Update)

20 October 2014

KUALA LUMPUR: The FBM KLCI closed convincingly above the 1,800 level on Monday, extending its gains from Friday, underpinned by solid gains in banks and heavyweight SapuraKencana Petroleum.

Asia shares surge after Wall St rally

20 October 2014

HONG KONG: Asian markets rallied on Monday following a rise in New York at the end of last week, with Tokyo surging almost 4%, thanks also to a weaker yen.

Australia's Medibank IPO seeks $4.8b, Asia's biggest listing this year

20 October 2014

SYDNEY: Australian state-owned health insurer Medibank Private Ltd said it is planning an IPO worth up to $4.8 billion - a listing that is set to be Asia Pacific's biggest this year and to draw strong interest from domestic and international investors.

Yinson gets RM127.5mil extension for Nigerian contract

20 October 2014

KUALA LUMPUR: Yinson Holdings Bhd's indirect unit Addon Pte Ltd has secured an extension for its contract with Addax Petroleum Development (Nigeria) Ltd valued at US$39mil (RM127.49mil).

Mobius: Pent-up demand from local funds to support Malaysian market

20 October 2014

KUALA LUMPUR: Pent-up demand from local investors and institutions will provide support to the stock market despite the decline in overall foreign participation, says Mark Mobius.

Bursa Malaysia Q3 earnings up 14.8% to RM53m (Update)

20 October 2014

KUALA LUMPUR: Bursa Malaysia Bhd’s earnings rose 14.8% to RM53.09mil in the third quarter ended Sept 30, 2014 from RM46.21mil a year ago, boosted by higher profit from its securities market operations.

The consensus among major investment banks and fund managers is that markets overshot and future trends will be calmer.But the question remains: Was the recent upheaval a chance to reset, or are conditions simply too panicky to risk? - AFP Photo.

Fund managers fasten seatbelts after a week of wild markets

20 October 2014

LONDON: Even the wildest markets nearly always draw opportunists looking for profitable ways to play them. But recent volatility has hit such a level that the strongest-nerved are thinking twice.

On Monday, oil prices held on to gains above US$86 from Friday, Oct 17's trade, taking cue from the positive sentiment from equity markets.

Brent holds to gains above US$86, helped by US consumer sentiment

20 October 2014

SINGAPORE: Brent crude edged higher on Monday, holding on to gains scored in the previous session that took it aboveUS $86 a barrel after robust US data buoyed global financial markets, with a cut in Saudi-Kuwait oil output providing further support.

Goldis gets 51% of IGB, offer becomes unconditional

20 October 2014

KUALA LUMPUR: Goldis Bhd’s takeover of IGB Corp at RM2.88 a share has become unconditional after it held more than 50% stake.

STREAMLINED: Yahoo! Inc is expected on Tuesday to outline cost-cutting efforts and give details of how it is evaluating possible acquisitions as it faces pressure from an activist investor, the Wall Street Journal reported, citing a person who was briefed on the plan. — Reuters

Yahoo! set to outline cost-cutting efforts: WSJ

20 October 2014

Yahoo! Inc is expected on Tuesday to outline cost-cutting efforts and give details of how it is evaluating possible acquisitions as it faces pressure from an activist investor, the Wall Street Journal reported, citing a person who was briefed on the plan.

DiGi Q3 earnings up 8.5% to RM486.92mil (Update)

20 October 2014

KUALA LUMPUR: DiGi.Com Bhd’s earnings rose 8.5% to RM486.92mil in the third quarter ended Sept 30, 2014 from RM448.70mil and declared an interim dividend of 6.2 sen a share.

Banks, SapuraKencana underpin KLCI rebound at midday (Update)

20 October 2014

KUALA LUMPUR: The FBM KLCI extended its gains at midday on Monday on local fund buying of banks and oil and gas heavyweight SapuraKencana Petroleum, in line with the firm key Asian markets.

IBM will pay Globalfoundries US$1.5bil to take the chip operations off its hands, WSJ said.

IBM to pay Globalfoundries US$1.5bil to take over its chip unit

20 October 2014

REUTERS: IBM Corp has agreed to hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc, the Wall Street Journal reported, citing people familiar with the matter.

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