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Business

Sime President and CEO Zubir removed

PETALING JAYA: In what is seen as the first high-profile removal of the head of a government-linked company, Sime Darby Bhd's board of directors has asked its president and group chief executive Datuk Ahmad Zubir Murshid to take a leave of absence prior to the expiry of his contract on Nov 26, 2010.

Business

Maybank profit up on across-the-board gains

PETALING JAYA: Malayan Banking Bhd (Maybank) saw its net profit for the third quarter ended March 31 increase 105% to RM1.03bil from RM503.3mil recorded in the same period a year earlier.

Business

Wall Street sell-off spooks Asian markets

PETALING JAYA: Asian markets tumbled yesterday due to a Wall Street sell-off on Thursday which was triggered by concerns that Greece's debt problems will spread to other countries in Europe and hurt global economic recovery.

Business

Some analysts sceptical over Asas Serba's toll highway acquisition proposal

KUALA LUMPUR: Asas Serba Sdn Bhd's plan to acquire all the toll highways in Malaysia is drawing scepticism from corporate analysts, who feel the price tag of RM50 billion is too costly, the deal too complex and raising funds may be a problem.

Business

Experienced contractors have the edge in LRT extension project

PETALING JAYA: Contractors with the relevant track record in the light rail transit (LRT) are expected to have a better chance to be the winners in the RM7bil LRT extension project in the Klang Valley.

Business

Singapore move boosts Asian currencies

PETALING JAYA: The unexpected move by the Monetary Authority of Singapore (MAS) to tighten its monetary policy boosted Asian currencies, including the ringgit, and intensified speculation that China would let the yuan trade higher.

Business

KNM deal falls through

PETALING JAYA: The deal to acquire the assets and liabilities of oil and gas company, KNM Group Bhd, has fallen through due to a disagreement on pricing.

Business

MISC unit gearing for imminent Bursa listing

PETALING JAYA: Although the details of Malaysia Marine and Heavy Engineering Sdn Bhd's (MMHE) proposed listing are yet to be unveiled, all indications are now pointing towards a potential fund-raising exercise for MMHE to boost its capacity.

Business

Splashing out for a good offer

PETALING JAYA: 'We have made the best offer we can afford to make to the water players. That's all we can do. The rest is up to everyone else,' said Gamuda Bhd group managing director Datuk Lin Yun Ling.

Business

Dividend announcement fails to lift Titan shares

PETALING JAYA: Titan Chemicals Corp Bhd's announcement of a final tax exempt dividend of 4.5 sen a share amounting to RM77.7mil, failed to lift its share price.