Bank of Japan slightly more optimistic on economy: Japan’s central
bank maintained its massive stimulus programme and offered a slightly
more upbeat view of the world’s third largest economy, as a modest
rebound in consumption helped service sector sentiment improve to a
one-year high. — Reuters
Japan business mood improves: Japanese retailers’ mood turned positive
in May and hit the highest level since June last year, when sales were
reeling after a sales tax increase, a poll shows. — Reuters
HP sells US$2.3bil stake in China unit: Hewlett-Packard will sell a
controlling 51% stake in its China-based data-networking business to
Tsinghua Unigroup for at least US$2.3bil. The company also said it
expects US$400mil–US$450mil of costs from the planned separation of
its computer and printer businesses from its faster-growing corporate
hardware and service operations.— Reuters
China, India likely to be largest shareholders of AIIB: China will
likely take a 25%–30% stake in the Asian Infrastructure Investment
Bank (AIIB) and India’s share may be between 10% and 15%, say
delegates attending a meeting of the bank’s founding members in
Singapore. — Reuters
Toshiba extends accounting probe: Japan industrial conglomerate
Toshiba Corp said it will investigate accounting practices in its TV,
computer and chip businesses, extending a probe already under way into
irregularities that led to profits being overstated by at least
US$415mil in recent years. — Reuters
Japan net external assets hit record: Japan’s net external assets rose
to a record 366.86 trillion yen (US$3.03 trillion) at the end of last
year as a weak yen boosted the value of overseas holdings, making the
country the world’s biggest creditor nation for 24 years in a row. —
Reuters
Mazda, Mitsubishi add 630,000 more cars to air bag recall: Mazda and
Mitsubishi will recall about 630,000 more vehicles to replace air bag
inflators made by Japan’s Takata Corp, following similar moves last
week by domestic automakers. — Reuters
Top local stories
Johor Sultan buys stake in Perth’s historic hospital: Johor’s Sultan
Ibrahim Ibni Sultan Iskandar has acquired part of Perth’s old Sunset
Hospital in the suburb of Dalkeith for A$8.5mil (RM24.2mil), a report
says. — Bernama
AMMB Holdings Bhd
’s earnings for financial year 2014 came in higher
at RM1.92bil on non-interest income and lower allowances. Its profit
after tax crossed the two billion mark to RM2.04bil on lower revenue
of RM9.14bil. For its fourth quarter, earnings and net profit stood at
RM519.22mil and RM668.37mil, repectively. – StarBiz
Sime net profit down: Sime Darby Bhd earnings for the third quarter
fell 54.7% to RM386.04mil, affected by tough business conditions and
weak commodity prices. Pre-tax profit fell 38%, while revenue declined
to RM9.997bil. It said the motors division’s expansion into new
territories and the property division’s focus on integrated
development and affordable properties enabled it to face the
challenging market conditions. — StarBiz
April inflation rises at slower pace: The Consumer Price Index (CPI)
rose at a slower pace of 1.8% from a year earlier and was below
consensus for a 2.2% rise, mainly due to the impact of the goods and
services tax which took effect on April 1. — StarBiz
Pricing to stay: DiGi Telecommunications Sdn Bhd is expected to
maintain the pricing of its current prepaid and postpaid plans. —
StarBiz
Sino Hua-Ann posts pre-tax loss: Sino Hua-Ann International Bhd posts
pre-tax loss of RM11.21mil for the first quarter on 52% lower revenue
of RM154.75mil. — Bernama
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