Best Oracle Sdn Bhd, the promoters of CLIQ, said in an announcement yesterday that it had applied for a Judicial Review (JR) on the SC
Energy
Brent crude was 0.58% higher to US$47.16 per barrel at 3.46pm.
Forex
Ringgit down 0.32% to 4.0807 versus the US dollar at 3.54pm.
Top foreign stories
Asian factories hobble as soft global demand hits sales: Asia’s factories showed few signs of returning to health in August, as torpid activity in the region’s biggest economies, China and Japan, suggested world demand remained fitful at best even as global policymakers scrambled to restore momentum. — Reuters
Fearing lawsuits, US banks set sky-high limits for director pay: Over the past two years, a growing number of US banks have capped their directors’ earnings, but the ceilings are so high that they primarily serve to fend off potential shareholder litigation rather than control the pace of pay increases. Most of the caps are typically 2-3 times what directors now get paid, according to data and filings. — Reuters
TPG looking to raise more than US$4b for new Asia fund: Global buyout firm TPG Capital Management is seeking to raise more than US$4 billion for a new Asia-focused fund, in what would be its biggest for the region, sources said. — Reuters
Japan Q2 capex lacks momentum, suggests little change to revised GDP: Japanese business expenditure fell in April-June from the previous quarter, suggesting only minor revisions will be made to recent gross domestic product figures and a sign that sluggish capital spending is hampering economic growth. — Reuters
Asia swaps trading stutters amid confusion over margin rules: Trading in Asia’s over-the-counter (OTC) swaps market has ground to a near halt as dealers are sitting on the sidelines amid confusion over new derivatives trading rules for US and Japanese banks, which are major players in the region. — Reuters
Big-drinking Vietnam to wholly divest from its sought after beer assets: Vietnam’s government said it will fully divest from its two biggest breweries and target to raise US$2.2 billion over the next 16 months, loosening its tight grip over one of Asia’s most sought-after beer markets. — Reuters
Japan’s ANA to modify 100 Rolls engines on 787s: ANA Holdings Inc, Japan’s largest airline, said on Wednesday it will modify all 100 Rolls-Royce engines on its fleet of Boeing 787 Dreamliners following three engine failures this year caused by corrosion and cracking of turbine blades. — Reuters
Top local stories
George Kent eyes regional rail transport contracts: George Kent (M) Bhd
, a water metering and engineering company, is bidding for rail transport contracts in South-East Asia, as it seeks to expand its railway business in the region. — Bernama
CLIQ shareholders ask board when they can get their money back: In response to shareholders’ question on when they can get their money back, CLIQ Energy Bhd chairman Datuk Azmi Mohd Ali said after the company’s AGM that this was subject to CLIQ getting a court order to liquidate the company. — StarBiz
Petrol One to carry out extensive review of operations: Petrol One Resources Bhd will adopt the special auditor’s recommendation to conduct an extensive review of the group’s operations to ensure adequate corporate governance, risk management and internal controls and processes are in place. — StarBiz
Matang gets Bursa nod to list on ACE Market: Plantation company Matang Bhd has received Bursa Malaysia approval to list on the ACE Market, tentatively by first quarter of 2017. The initial public offering will involve the issuance of 130 million new shares, or 7.18% of the enlarged share capital of Matang. — StarBiz
Boustead’s MHS Aviation seeks RM42.7m in damages from Petronas Carigali: Boustead Holdings Bhd subsidiary MHS Aviation Bhd is seeking RM42.70mil in damages from Petronas Carigali Sdn Bhd over the suspension of a contract to provide five helicopters for the latter’s operations. — StarBiz
SK Petro unit clinches five contracts totalling RM264m: SapuraKencana Petroleum Bhd (SK Petro) unit SapuraKencana TL Offshore Sdn Bhd has bagged five oil and gas-related contracts totalling US$65.30mil or RM264mil. — StarBiz
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