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Business 30 Dec 2016 | 12:00 AM

Offshore yuan inches near 7 per US dollar

BEIJING: The offshore yuan inched lower toward 7 per dollar, widening its discount to the onshore rate to the most in more than two weeks, as traders sold the currency on bets it would face stronger depreciation pressures as the year turns.

Commodities 30 Dec 2016 | 12:00 AM

Party on in Bursa, extolled sector is once-beleaguered oil and gas

PETALING JAYA: Over the last few days, O&G stocks on Bursa Malaysia have seen some buying interest, buoyed by higher oil prices from expectations of tighter supply once the first output cut deal between the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec producers in 15 years takes effect this Sunday.

Business 30 Dec 2016 | 12:00 AM

Political upheavals may herald trouble for megadeals

LONDON: As companies brace for the impact of 2016’s political shocks and looming elections next year, global appetite for mega mergers may slow amid the prospect of increased protectionism.

Business 30 Dec 2016 | 12:00 AM

BCorp posts higher earnings in Q2

PETALING JAYA: Conglomerate Berjaya Corp Bhd (BCorp), which saw its net profit surge 44.3% to RM176.5mil in the second quarter ended Oct 31, 2016, expects the operating environment to be challenging, going forward.

Business 30 Dec 2016 | 12:00 AM

Auditor expresses qualified opinion on SMTrack’s audited financial statements

PETALING JAYA: Track and trace solutions provider SMTrack Bhd’s external auditor, Messrs KC Chia & Noor, has expressed a qualified opinion on the company’s annual audited financial statements for the financial year ended July 31, 2016 (FY16).

Business 30 Dec 2016 | 12:00 AM

Shareholders advised to accept offer on The Store

PETALING JAYA: Independent adviser Mercury Securities Sdn Bhd has recommended The Store Corp Bhd shareholders to accept the takeover offer price of RM3.70 per share by the offerers, the Tang family, deeming it reasonable but not fair.

Business 30 Dec 2016 | 12:00 AM

Gas Malaysia earnings not affected by tariff revision

PETALING JAYA: Gas Malaysia Bhd’s earnings will not be impacted by the recently announced gas tariff revision but the implementation of the gas cost pass through (GCPT) mechanism could result in lumpy cash flows for the company.

Business 30 Dec 2016 | 12:00 AM

PublicInvest: HLT Global fair value at 50 sen

PETALING JAYA: HLT Global Bhd (HLT Global), which is en route to listing on the ACE Market of Bursa Malaysia on Jan 10, is expected to deliver a potential upside of 11.1% from its offer price of 45 sen per share.

Business 30 Dec 2016 | 12:00 AM

KFit targets online-to-offline growth after Groupon deals

KUALA LUMPUR: South-Eeast Asian startup KFit Holdings Pte Ltd expects to double its online-to-offline (O2O) commerce business in 2017 following the recent acquisitions of Groupon’s Malaysian and Indonesian operations, its founder said.

Business 30 Dec 2016 | 12:00 AM

Firm Main Market debut for FoundPac

PETALING JAYA: FoundPac Group Bhd made a firm debut on the Main Market of Bursa Malaysia when it opened at 61 sen which was seven sen above its offer price of 54 sen each.