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Nation

Massive porn VCD haul

Police scored a major success in their fight against smut when they seized pornographic video compact discs (VCDs) worth RM253, 000 in a house in Cheras.

Business

Magnum H1 net profit sharply down

MAGNUM 4D Bhd said its net profit for the half year to June fell sharply to RM25.04mil from RM44.19mil a year earlier mainly due to higher prize payouts in its gaming operations, coupled with an increase in provision for diminution in the value of its investments.

Business

Mayban Unit Trust targets RM2.2bil fund size

MAYBAN Unit Trust Bhd, a member of the Maybank group, hopes to achieve RM2.2bil in total fund size for the financial year ending June 30, 2004, with focus on meeting different investors' needs.

Business

Toys "R" Us narrows second-quarter loss

Giant toy retailer Toys R'' Us Inc. said Monday it cut its second-quarter loss by a third as higher sales for its Internet, international and baby products divisions helped offset rising overhead expenses and slumping sales at its U.S. toy and children's apparel stores.

Business

Asia again generates lots of Internet traffic

INTERNET traffic, which was mostly moving from Asia to the United States previously, has seen a reversal of late as a result of improved Asian-generated content and businesses in the last two years, says William Barney, president and chief operating officer of Asia Netcom, a telecommunications carrier.

Business

Foster’s plans US$1b IPO for pubs unit

B>MELBOURNE: /B>Foster's Group Ltd, Australia's best-known beer maker, is looking to sell more than 100 pubs through an initial public offering (IPO) to raise nearly US$1bil for possible use in buying more wine makers, most likely in the United States.

Letters

Bet you the bookies are making big bucks

By WONG CHUN WAI

Business

Foreign business news in brief

Foreign business news in brief including from Singapore that loss-making ST Assembly Test Services Ltd, Asia's fifth largest microchip tester, said yesterday it has appointed a new chief financial officer, Dov Oshri, to hasten its return to profitability. He takes over from Pearlyne Wang.

Nation

MCA branch head charged with gambling

An MCA branch chairman and three others were charged in a magistrate's court here with gambling on the first floor of a shophouse in Taman Klang Utama here.

Nation

4-D ring busted with arrests

Police have busted a major illegal four-digit betting syndicate with a weekly collection of nearly RM1mil following the arrest of two men and five women, at a house near Sungai Mati here.