KUALA LUMPUR: Malaysia can expect an influx of investments from China and higher sales of palm oil to China this year following the revival of the East Coast Rail Link (ECRL) project, according to Chinese Ambassador Bai Tian.
PETALING JAYA: Moody’s Investors Service views the government’s financial aid of RM6.2bil (US$1.5bil or 0.4% of gross domestic product or GDP) to the Federal Land Development Authority (Felda) as credit negative.
KUALA LUMPUR: Cisco Systems, a US-based technology company will be increasing investments at its Malaysian plant, said country manager Albert Chai.
PETALING JAYA: Impiana Hotels Bhd, formerly known as Bio Osmo Bhd, has appointed Datuk Seri Ismail@Farouk Abdullah its executive chairman effective yesterday..
PETALING JAYA: CIMB Thai Group’s net profit for the quarter ended March 31 jumped 92.5% year-on-year (y-o-y) to 325 million baht (RM42.26mil) on the back of operating income growth and a drop in provisions.
PETALING JAYA: Astro Malaysia Holdings Bhd’s unit has inked a US$360mil (RM1.49bil) agreement with Measat Global Bhd to use 12 transponders on the latter’s satellite over a 15-year period.
ATLANTA: In the days after a Boeing Co 737 Max 8 jet plunged into Indonesia’s Java Sea last October, company officials said they were moving quickly to update plane software suspected in the crash.
PETALING JAYA: The Malaysian economy will bounce back in the second half after registering what is expected to be the slowest quarterly expansion since the second quarter of 2016 during the first three months of the year.
KUALA LUMPUR: British American Tobacco (M) Bhd (BAT), which had shut down its Petaling Jaya plant in 2017, will consider opening another factory in Malaysia depending on the market situation for legal cigarettes in the country.
ZURICH: Nestle SA reported the strongest start to a year since 2016 as the world’s largest food company raised prices and its underperforming US frozen-food brands Hot Pockets and Stouffer’s returned to growth.
Hong Kong: It takes a strong stomach to be bearish on Chinese distiller Kweichow Moutai Co.
Singapore: In a rare retreat for Amazon.com Inc, the e-commerce giant plans to shut down its Chinese marketplace business in July as it shifts its focus to offering mainland consumers overseas products rather than goods from local sellers.
JOHOR BARU: KPJ Healthcare Bhd, which is still bullish on the prospects of private healthcare in the country, will be allocating between RM200mil and RM300mil as capital expenditure (capex) yearly.
KUALA LUMPUR: PublicInvest research has downgraded the rubber gloves sector to “underweight” from “neutral” as it expects price-earnings contraction to continue.
PETALING JAYA: Widad Group Bhd’s wholly owned subsidiary, Widad Builders Sdn Bhd (WBSB), has accepted a letter of award for a RM190.5mil contract from Wardah Properties Sdn Bhd.
SINGAPORE (Bloomberg): As earnings season powers ahead, the question of when to enter and exit stock trades has been answered by Goldman Sachs Group Inc.
SINGAPORE (Bloomberg): Singapore’s largest bank plans to stop financing coal-fired power plants once its existing commitments are complete in 2021.
KUALA LUMPUR: Blue chips closed Thursday off their intra-day lows as local funds were seen mopping up oversold banking stocks but key Asian markets ended mostly in the red on profit taking and due to trade tensions.
KUALA LUMPUR: Widad Group Bhd has secured a RM190.5mil contract to build a 200-bed private hospital in Puchong, Selangor.
SHANGHAI: Shanghai stocks retreated from a 13-month closing high to end lower on Thursday, as investors locked in gains following a strong rally underpinned by signs of an economic rebound.