Corporate News

  • Filter by

Oil strengthens as US$ slips to four-day low

NEW YORK: Oil prices rose on Friday as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market, offsetting concerns about U.S.-China trade tensions and supply increases.

Brent crude settled up 49 cents at $73.07 a barrel. Brent fell 3.1 percent in the week.

Wall Street slips as trade worries dampen upbeat earnings

NEW YORK: U.S. stocks ended slightly lower on Friday as escalating trade anxieties driven by U.S. President Donald Trump's latest tariff threats against China offset a string of robust earnings led by Microsoft

The Dow Jones Industrial Average fell 6.38 points, or 0.03 percent, to 25,058.12, the S&P 500 lost 2.66 points, or 0.09 percent, to 2,801.83 and the Nasdaq Composite dropped 5.10 points, or 0.07 percent, to 7,820.20.

Clarification for Fajarbaru Builder Group Bhd Clarification

FAJARBARU Builder Group Bhd made a profit before tax (PBT) of RM15.9mil for its third quarter ended March 31, 2018, and not as reported in Fajarbaru aims for equal contribution from its ops which appeared in StarBiz, July 20. Its construction segment recorded a PBT of RM2.3mil, logging RM35.3mil and property development a loss before tax of RM500,000.

Transparency in remuneration Malaysia Inc 2.0

THERE are a couple of things that we can take away from the debate arising from Sapura Energy Bhd’s remuneration paid to its top executive Tan Sri Shahril Shamsuddin.

Khairul Kamarudin resigns as BIMB CEO

KUALA LUMPUR: BIMB Holdings Bhd chief executive officer Khairul Kamarudin resigned from his post with immediate effect on Friday.

The board appointed its chief financial officer, Mohd Muazzam Mohamed as acting CEO of Bank Islam effective Friday.

Hyflux shuns 'unreasonably low’ Tuaspring bids as deadline looms

SINGAPORE: Hyflux Ltd. expects to get binding offers by Oct. 1 for its share in Southeast Asia’s largest desalination plant project as the embattled water treatment and power company finds a solution to repay stakeholders amid its restructuring efforts.

There are currently eight bidders for Tuaspring and they are in the process of getting in-principal approval from Singapore’s Public Utilities Board, Hyflux’s Chief Executive Officer Olivia Lum said.