Asset disposal: Passengers wait to check in at AirAsia counters for their flights at Don Muang International Airport in Bangkok. Sources say AirAsia is looking to sell a majority stake in its leasing unit Asia Aviation Capital but is also open to a full sale.
Energy
Brent crude was 0.12% higher to US$52.21 per barrel at 3.36pm.
Forex
Ringgit lost 0.08% to 4.2720 versus the US dollar at 3.46pm.
Top foreign stories
S&P sees no need for an out-of-schedule China rating review: Standard & Poor’s is likely to follow its regular ratings review schedule for China, and does not see any basis at this point for an out-of-schedule committee meeting, a senior director at the ratings agency told Reuters on Monday. — Reuters
Samsung Elec considers adding capacity at China chip plant: Tech giant Samsung Electronics Co Ltd said on Monday it is considering adding memory chip production capacity at its manufacturing base in Xi’an, China, amid an industry-wide boom that will likely fuel record sales for memory suppliers. No specifics, including the potential investment amount and what products it would make with the additional resources, had been decided, a spokesman said. — Reuters
HK property cooling moves set to fail as shadow lenders fill the gap: Hong Kong’s latest attempt at cooling home prices in one of the world’s most expensive property markets is expected to send buyers scouring for loans in the unregulated shadow banking industry, spreading risk across the financial sector. — Reuters
Opec ponders how to co-exist with US shale oil: US shale bankers came to Vienna this week and Opec is readying a trip for its top officials to Texas in a bid to understand whether the two industries can co-exist or are poised to embark on another major fight in the near future. — Reuters
Top local stories
Boustead returns to black with RM4.2m net profit in Q1: Boustead Holdings Bhd recorded RM4.2mil in net profit for the first quarter, recovering from a net loss of RM21.5mil a year ago, on to better contribution from its plantation, finance and investment, and trading and industrial divisions. Its revenue for the quarter was also up 28% to RM2.38bil. — StarBiz
Hong Leong Bank Q3 net profit up 14%: Hong Leong Bank Bhd saw its net profit increase 14.4% to RM569.5mil for the third quarter, mainly due to higher net income of RM121.5mil and higher share of profit from an associated company of RM23.2mil. Its revenue was also up 12.1% to RM1.12bil. Separately, Hong Leong Financial Group Bhd posted a 33% higher net profit to RM418.7mil for the third quarter on higher contribution across all its operating divisions. Its revenue came in at RM1.22bil, up 19.5% year-on-year. — StarBiz
ML Global counting on its orderbook: ML Global Bhd expects its current orderbook of over RM2bil to sustain the company over the next three years. Group managing director Tan Sri Lim Hock San said the outlook for ML Global is looking good owing to its healthy orderbook. The company is also looking at ways to mitigate its higher construction and labour costs, he said. - StarBiz
Voir looking to enter construction and logistics: Voir Holdings Bhd will study a proposal to venture into the construction and logistics business as part of a move to diversify its income base. Chairman Datuk Zarul Ahmad Mohd Zulkifli said the group is currently working on a rationalisation plan, which includes a business diversification programme, with a final decision to be made within this year. He also said the group will likely introduce a dividend policy in the future as its business expands. — StarBiz
AirAsia warns of free ticket scam: AirAsia Bhd has issued a public warning about a social media post, claiming to offer free flight tickets through an online survey. The airline said it will not be held liable for any claims pertaining to the false scheme and will not hesitate to take legal action against individuals or groups that organise illegal schemes using the AirAsia brand. — Bernama
Celcom eyes 20% growth in daily subscription: Celcom Axiata Bhd hopes to grow its daily subscription by 20% through Celcom EasyPhone, the biggest device installment programme from June 1-July 31, 2017, in conjunction with Ramadan and the upcoming Aidilfitri celebration. — Bernama
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