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BHPetrol continues to expand service station network

PETALING JAYA: Boustead Petroleum Marketing Sdn Bhd (BHPetrol), a member of the Boustead Group, will allocate RM50mil in expanding its service station network in 2017.


CIMB bullish on local stock market, sees FBM KLCI hitting 1,820

PETALING JAYA: There is a strong case for a more bullish Malaysian stock market this year but this comes with caveats.


IOI Corp Q2 core net profit seen up to RM280mil

PETALING JAYA: IOI Corp Bhd is expected to continue to benefit from the higher crude palm oil (CPO) price, and register a core net income of between RM250mil and RM280mil for the second quarter of its financial year 2017 (Q2FY17), said MIDF Research.


Noble Group confirms strategic stake talks

LONDON: Noble Group Ltd surged the most in over a year after it said it’s in discussions with a strategic investor, which people familiar with the talks identified as China’s Sinochem Group.


OCBC Q4 profit hits three-year low

SINGAPORE: Oversea-Chinese Banking Corp, Singapore’s second-biggest lender, flagged worries about a weak oil and gas sector after reporting an 18% drop in quarterly profit to a three-year low, mainly due to a jump in impairment charges.


Rolls-Royce profit beats estimates on cost cuts

LONDON: Rolls-Royce Holdings Plc’s annual earnings fell less than expected as Europe’s biggest aircraft-engine maker deepened cost cuts and a late production surge at Airbus Group SE boosted revenue.


Abu Dhabi’s new US$125bil sovereign fund is taking shape

ABU DHABI: Abu Dhabi is close to finalising the merger of two of its largest sovereign wealth funds – Mubadala Development Co PJSC and International Petroleum Investment Co.


Asian stocks, US$ firmer early Wednesday as Fed's Yellen hints rate hike

TOKYO: Asian stocks rose early on Wednesday as Wall Street set record highs overnight after Federal Reserve Chair Janet Yellen spoke in support of an interest rate hike next month, while the dollar hovered near three-week highs.

Corporate News

RHB Research lifts KL Kepong target price as palm oil prices climb

KUALA LUMPUR: RHB Research Institute has raised its sum-of-parts based target price for Kuala Lumpur Kepong (KLK) to RM29.30 from RM26.80 after imputing its latest net debt position and adjusting for higher palm kernel oil (PKO) prices.


Ringgit unchanged against US$ early Wednesday

KUALA LUMPUR: The ringgit opened unchanged against the US dollar Wednesday, prompted by demand for the local currency although traders were adopting a cautious mode, a dealer said.