Business

(From left) IHH Healthcare Bhd chief financial officer Low Soon Teck, chairman Dr Abu Bakar Suleiman and managing director and chief executive officer Dr Tan See Leng after the company’s AGM

IHH facing wrath of volatile Turkish lira

KUALA LUMPUR: IHH Healthcare Bhd, the second-largest public-listed hospital operator in the world is facing the wrath of the volatile Turkish lira.

At the AGM: (from left) Star Media Group Bhd group managing director and CEO Datuk Seri Wong Chun Wai, Fu, deputy chairman Tan Sri Kuan Peng Soon, company secretary Ong Wei Lymn, non-independent non-executive director Datuk Dr Mohd Aminuddin Mohd Rouse and independent non-executive director Datin Linda Ngiam Pick Ngoh at the company’s 45th AGM.

Star Media to further diversify into non-print businesses

PETALING JAYA: The proceeds from Star Media Group Bhd’s proposed disposal of its 52.51% equity interest in Singapore-listed Cityneon Holdings Ltd worth S$115.61mil (about RM360mil) will enable the group to further concentrate and diversify into non-print-related businesses.

The audit will cover areas such as safety, maintenance and reliability levels as well as the availability of the rail line service, including the Kelana Jaya and Ampang light rail transits (LRT) as well as the Kuala Lumpur monorail

SPAD to appoint external auditor

PETALING JAYA: For the first time, the Land Public Transport Commission (SPAD) will appoint an independent technical auditor to assess key aspects of Kuala Lumpur’s multi-billion-ringgit rail lines

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IWC shares spike nearly 11%

PETALING JAYA: Iskandar Waterfront City Bhd’s (IWC) share price jumped 18 sen, or 10.78% to RM1.85 mid-afternoon trading.

23 May 2017 | 3:27PM |

stocks

Telekom Malaysia posts RM230mil Q1 net profit

KUALA LUMPUR: Telekom Malaysia Bhd (TM) recorded a 28.5% year-on-year (yoy) lower net profit at RM230.43mil for the first quarter of financial year 2017 ended March 31, on the back of reduced operating profit before finance cost and lower foreign exchange gain on its borrowings.

23 May 2017 | 3:39PM |

Earnings

Brown says 7-Eleven began accepting Alipay from May 12 and that 94% of the 2,100 stores nationwide had gone "live" with the system..

7-Eleven first Malaysian retailer to accept Alipay

KUALA LUMPUR: 7-Eleven Malaysia Bhd is the first retailer in Malaysia to accept the Alipay mobile wallet payment, and looks to attract more Chinese tourists to shop at the convenience store chain.

22 May 2017 | 3:49PM |

On or off: Artist’s impression of The First Light Resort & Casino in Massachusetts

Genting risks RM1bil write-off

PETALING JAYA: Genting Malaysia Bhd (GenM) may have to write off an investment of US$274mil (RM1.18bil) should the US Department of Interior (DOI) effectively decide that construction of the First Light Resort & Casino (FLRC) in Massachusetts is not able to proceed.

22 May 2017 | 12:00AM |

Stocks

Dealers noted increased buying interest for the ringgit which saw the local note appreciate to 4.2950/2980 at 9.04am against the greenback from 4.3030/3060 at 6pm on Monday.

Ringgit higher against US$ Tuesday

KUALA LUMPUR: The ringgit was higher against the dollar, riding high on the back of Malaysia''s robust first-quarter 2017 (1Q2017) Gross Domestic Product (GDP) growth data.

23 May 2017 | 10:50AM |

Forex

RHB Bank expects better performance this year

KUALA LUMPUR: Lower total income and higher impairment losses for loans led RHB Bank Bhd to register a 11.4% year-on-year (yoy) lower net profit of RM500.28mil for the first quarter ended March 31, 2017.

23 May 2017 | 1:59PM |

Banking

Paytm launches niche bank

Indian digital payments firm Paytm, which is backed by Asian technology giants SoftBank Corp and Alibaba Group Holding, launched a niche bank as part of a plan to more than double its customer base to 500 million in the next three years.

23 May 2017 | 5:56PM |

Banking

Exports, consumers and construction drive German growth surge

BERLIN: The German economy picked up steam in the first quarter helped by strong exports, booming construction and higher household and state spending, burnishing Chancellor Angela Merkel's economic credentials as she gears up for national elections.

23 May 2017 | 3:40PM |

Economy

Telekom Malaysia posts RM230mil Q1 net profit

KUALA LUMPUR: Telekom Malaysia Bhd (TM) recorded a 28.5% year-on-year (yoy) lower net profit at RM230.43mil for the first quarter of financial year 2017 ended March 31, on the back of reduced operating profit before finance cost and lower foreign exchange gain on its borrowings.

23 May 2017 | 3:39PM |

Earnings

IWC shares spike nearly 11%

PETALING JAYA: Iskandar Waterfront City Bhd’s (IWC) share price jumped 18 sen, or 10.78% to RM1.85 mid-afternoon trading.

23 May 2017 | 3:27PM |

stocks

KLCCP Stapled Group achieves stable Q1 performance

KLCC Property Holdings Bhd (KLCCP) and KLCC Real Estate Investment Trust (REIT), collectively known as KLCCP Stapled Group, delivered a stable performance for the first quarter, posting lower pre-tax profits of RM229.38 million and RM229.38 million, respectively. Their revenues increased to RM336.65 million and RM336.65 million, respectively.

23 May 2017 | 3:07PM |

Corporate News

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