AirAsia Bhd posted net profit of RM554.20mil in the fourth quarter ended Dec 31, 2015 compared with a net loss of RM428.51mil a year ago, boosting the full year FY15 earnings to RM540.96mil.
Energy
Brent crude was up 1.19% to US$45.91 per barrel at 3.18pm.
Forex
Ringgit down 0.37% to 4.0192 per US dollar at 3.43pm.
Top foreign stories
Japan ready to intervene if yen moves too volatile: Japanese Finance Minister Taro Aso said on Monday that Tokyo is ready to intervene in the currency market if yen moves are volatile enough to hurt the country’s trade and economy. — Reuters
Hedge fund industry’s influence may be waning: After a decade in which hedge fund assets nearly doubled, there are several signs that the golden era for the US$2.9 trillion industry may be on the wane, draining the influence of fund managers who once considered themselves masters of the universe. — Reuters
Japan Q1 GDP growth expected to be paltry on soft consumer spending: Japan’s economy is expected to have barely grown in the first quarter, a Reuters poll showed on Monday, as stagnant consumer spending and wobbly financial markets keep expectations for more government stimulus measures alive. — Reuters
Panama Papers report alleges NZ prime place for rich to hide money: Wealthy Latin Americans are using secretive, tax-free New Zealand shelf companies and trusts to help channel funds around the world, according to a report on Monday based on leaks of the so-called Panama Papers. — Reuters
Simpler merger code to further boost China’s overseas M&A push: China is planning to remove the need for State Council approval for large, sensitive outbound deals and will allow Chinese companies to vie for the same target, a move likely to further boost record overseas acquisitions by Chinese companies. — Reuters
Top local stories
Airasia may group its airlines in one entity: Airasia Bhd chief executive officer Tan Sri Tony Fernandes wants a consolidation of all its airlines in different countries into a single entity eventually. “This has always been my plan to consolidate but we have to talk to many different authorities to do so. There is no timeframe yet at the moment,” he said. — StarBiz
1MDB hires financial adviser to engage bondholders over US$1.75b debt notes: 1Malaysia Development Bhd (1MDB) has hired Alvarez & Marsal Asia Ltd as it starts an engagement process for its US dollar denominated bondholders following the default on the US$1.75bil 1MDB Energy (Langat) Ltd. — StarBiz
YTL Power raises stake in Jordan’s Attarat Power Co to 45%: YTL Power International Bhd
has increased its stake to 45% in the US$2.1bil, 554-MW oil shale project being developed by Attarat Power Company in Jordan.
Axiata’s Ncell deposits advance tax on behalf of ex-owners: In unusual move to resolve the capital gains tax in Nepal following Axiata Group Bhd’s purchase of an 80% in Ncell Pvt Ltd, the latter has stepped forward to deposit the advance tax on behalf of its former owners. - StarBiz
R&A submits annual report, shares won’t be suspended. Shares in R&A Telecommunication Group Bhd will not be suspended from Tuesday as the company has submitted its annual report for the financial year ended Dec 31, 2015, says Bursa Malaysia. - StarBiz
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