Latest
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Aviation
AirAsia Group posts passenger traffic growth, but lower load factor in Q4
KUALA LUMPUR: AirAsia Group Bhd continued to post strong growth in number of passengers carried in the last quarter of 2019, but its overall load factor dropped due to higher capacity and pricing strategy.
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Plantations
CPO prices bounce back
KUALA LUMPUR: Crude palm oil (CPO) futures on Bursa Derivatives jumped the most in 11 years on Wednesday after sharp losses in the previous session, helped by expectations of lower output.
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Markets
Virus fears push Malaysia, Thailand markets closer to bear levels
SINGAPORE (Bloomberg) -- Southeast Asian equity markets, already suffering from foreign outflows, are now at the brink of witnessing bear markets for some of its members as the coronavirus-induced sell-off continues.
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Corporate News
Apple set to open at record high as analysts laud ‘blow out’ results
LONDON (Bloomberg) -- Apple’s first-quarter results spurred optimism among analysts that demand for the tech giant’s iPhones will endure, especially as the company is said to be preparing to launch a new low-cost model and a 5G-enabled device later this year.
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Markets
Blue chips close slightly lower on Tenaga, IHH losses
KUALA LUMPUR: Overall market sentiment on Bursa Malaysia was steadier on Wednesday after the previous day's selloff due to the worsening coronavirus outbreak but the FBM KLCI's advance was held in check by Tenaga Nasional and IHH Healthcare.
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Construction
KAB bags RM20mil job from Kerjaya Prospek
PETALING JAYA: Kejuruteraan Asastera Bhd (KAB) has secured a RM20mil contract Kerjaya Prospek Group Bhd for the supply, delivery, installation, testing and commissioning of electrical services at a mixed-use development in Puchong, Selangor.
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Telcos
Saudi Telecom offers US$2.39b for Vodafone Egypt stake
CAIRO: Saudi Telecom Co. offered $2.39 billion for Vodafone Group Plc’s holding in its Egyptian unit as it seeks ways to expand outside it home market.
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Corporate News
LVMH sales growth slows ahead of looming Chinese virus impact
PARIS: LVMH’s sales growth slowed at the end of 2019 after protests sapped the Hong Kong market while luxury-goods makers face another threat from the viral outbreak in China.
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Telcos
Telenor beats quarterly profit forecast, sees 2020 earnings growth
OSLO: Norway's Telenor posted higher-than-expected fourth-quarter operating profits on Wednesday and said it expects its underlying earnings to rise in 2020 after last year's decline.
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Economy
FDI into Indonesia falls below 2019 target, but seen rising this year
JAKARTA: Foreign direct investment (FDI) into Indonesia in 2019 fell short of the target, but the country's investment board chief is confident plans for regulatory changes will boost investors' interest in Southeast Asia's largest economy.
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Corporate News
InNature to offer 74m new shares under Main Market listing
KUALA LUMPUR: InNature Bhd will offer 74.07 million new shares at a retail price of 68 sen per share enroute to its listing on the Main Market of Bursa Malaysia, tentatively to be on Feb 20.
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Business
Proton-backed Geely takes on Honda and Toyota in Asean
KUALA LUMPUR: Li Chunrong was hired by Chinese automaker Geely to revive the fortunes of the Proton brand in Malaysia, and it took him two years to eclipse Japanese giants Honda and Toyota. Now he plans to take the fight across Southeast Asia and beyond.
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Forex
Ringgit, Indian rupee lead slight recovery; virus fears persist
BENGALURU: Most Asian currencies firmed slightly on Wednesday, recovering from falls in the previous session, but worries over the likely economic impact from the coronavirus outbreak in China lingered.
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Economy
China virus turns Macau into gambling ghost town
HONG KONG: The Chinese territory of Macau has become a near-ghost town during what is typically the busiest time of year in the world's biggest casino hub, after authorities announced a raft of measures to keep visitors away and contain the new coronavirus.
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Economy
Thai finance ministry cuts 2020 GDP growth forecast to 2.8%
BANGKOK: Thailand's finance ministry cut its 2020 economic growth forecast to 2.8% from 3.3% it projected three months, mainly due to weaker exports.
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Markets
KLCI dips at midday amid mixed broader market
KUALA LUMPUR: Bursa Malaysia was marginally lower at the midday break on Wednesday, while Hong Kong fell more than 2% when it reopened for trading as the coronavirus outbreak spead further and the death toll rose.
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Business
Enormous elegant deals for CNY
CHINESE New Year this year will be all the more prosperous with Aspen Group’s amazing Aspenormous 2020 campaign for its outstanding properties nationwide.
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Aviation
AirAsia X posts 8% rise in passengers in 4Q19
KUALA LUMPUR: AirAsia X Bhd’s (AirAsia X) number of passengers carried during the fourth quarter of 2019 (4Q19) increased eight per cent to 1.61 million passengers from the same period last year.
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Markets
Quick take: Icon Offshore loses nearly half its value
KUALA LUMPUR: Debt-laden offshore support vessel (OSV) operator Icon Offshore saw nearly half its share price erased on Wednesday on rising selling pressure.