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Business

Malaysia likely to review foreign insurance ownership directive

HONG KONG/SINGAPORE: Malaysia is likely to review a directive to foreign insurers to reduce ownership of their local units by nearly a third as finding domestic buyers for the equity stakes is proving hard, three people familiar with the matter said.

Business

Consultant to review KL-S'pore HSR cost reduction plan

KUALA LUMPUR: MyHSR Corp Sdn Bhd plans to appoint a technical advisory consultant (TAC) to review the technical aspects of the Kuala Lumpur-Singapore High Speed Rail (HSR) project’s cost reduction options.

Corporate News

JPMorgan to cut hundreds of jobs after staffing review

NEW YORK: JPMorgan Chase & Co is dismissing hundreds of workers in its asset and wealth-management division after a periodic review of staffing, according to a person briefed on the matter.

Business

Review of renewable energy contracts likely

PETALING JAYA: Many renewable energy (RE) contracts may be up for review after the Energy, Green Technology, Science and Climate Change Ministry decided to cancel four independent power producer (IPP) contracts that had been awarded under the previous administration.

Business

Japan PM calls for accelerated review of pension fund asset

TOKYO: Japanese Prime Minister Shinzo Abe has told the health minister to accelerate an asset allocation review by the Government Pension Investment Fund (GPIF), the world's biggest pension system, and complete it by this autumn instead of by next March, sources familiar with the situation said.

Business

PM: Govt plans mid-year budget review, may list govt entities

KUALA LUMPUR: Tun Dr Mahathir Mohamad says the government will undertake a mid-year budget review where the criteria for off-budget allocation should be scrutinised.

Business

Malaysia Airlines says thorough review of business plan underway

KUALA LUMPUR: Malaysian Airline System Bhd (MAS) is undertaking a thorough review of its business plan and all avenues are being explored to ensure the national carrier's long-term sustainability.

Business

Masteel hires UHY to conduct review on company’s financials

PETALING JAYA: Malaysia Steel Works (KL) Bhd (Masteel) has engaged special auditor UHY Advisory (KL) Sdn Bhd to conduct an independent and comprehensive review on the company’s financial statements for the year ending Dec 31, 2014.

Business

Pelangi Prestasi’s judicial review to be heard on Aug 23

PETALING JAYA: The judicial review filed by a company linked to billionaire Tan Sri Syed Mokhtar Al-Bukhary against the Sabah state government and chief minister Datuk Seri Mohd Shafie Apdal has been fixed for hearing on Aug 23 in the Kota Kinabalu High Court.

Business

AirAsia, AirAsia X file judicial review against Mavcom

PETALING JAYA: AirAsia Bhd and AirAsia X Bhd have filed a judicial review challenging the Malaysian Aviation Commission (Mavcom) for declining to decide its disputes with Malaysia Airport (Sepang) Sdn Bhd (MASSB) pertaining to the passenger service charge (PSC) and poor level of service at KLIA2.