Business

1MDB’s position does not reflect distress among GLCs in Malaysia: Moody’s

By RUPA DAMODARAN - Wednesday, 27 May 2015.

KUALA LUMPUR: The current 1Malaysia Development Bhd’s (1MDB) position does not indicate distress among government-linked companies in Malaysia, said Moody’s.

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Najib: 1MDB RM42b loss claim is deliberate twisting of facts

Wednesday, May 27, 2015 - 21:15

KUALA LUMPUR: – Claims about the loss of RM42 billion in 1Malaysia Development Bhd’s (1MDB) balance sheet appear to be a deliberate twisting of the facts, said Datuk Seri Najib Tun Razak.

Genting Plantation Q1 results down on lower palm product prices

Wednesday, May 27, 2015 - 19:43

KUALA LUMPUR: Genting Plantation Bhd’s pre-tax profit and revenue dropped by 54 per cent and three per cent, respectively for the first quarter ended March 31, 2015 due to lower palm product selling prices and fresh fruit bunch production (FFB).

Selangor Dredging FY15 pre-tax profit jumps to RM77.72 million

Wednesday, May 27, 2015 - 19:36

KUALA LUMPUR: Property developer Selangor Dredging Bhd (SDB) chalked up a pre-tax profit of RM96.52 million for the financial year ended March 31, 2015 from RM77.72 million it posted a year ago.

EU-Swiss accord to end banking secrecy, curb tax evasion

Wednesday, May 27, 2015 - 18:11

BRUSSELS: The European Union and Switzerland signed a major accord Wednesday that will end banking secrecy for EU residents and prevent them from hiding undeclared income in Swiss banks, the European Commission said.

Qatar GDP to grow between 6- and 17pc by 2017

Wednesday, May 27, 2015 - 18:07

DOHA: – Qatar is one of the fastest growing economies in the world, as its gross domestic product (GDP) grew at a rate of 19 per cent annually between 2005 and 2014, Qatar News Agency (QNA) reported Yousuf Mohammed Al-Jaida, deputy chief executive officer of the Qatar Financial Centre Authority (QFC

MISC allocates US$1b for capex this year

Wednesday, May 27, 2015 - 17:55

KUALA LUMPUR: Shipping giant MISC Bhd has allocated US$1 billion for capital expenditure (capex) this year to primarily focus on the petroleum segment business, despite lower oil prices in the global market.

Nur Jazlan: PAC arranging meetings with Arul Kanda, Shahrol

Wednesday, May 27, 2015 - 17:42

KUALA LUMPUR: – The Public Accounts Committee (PAC) will arrange meetings with 1Malaysia Development Berhad (1MDB) chief executive officer (CEO) Arul Kanda Kandasamy and former CEO Datuk Shahrol Halmi as soon as possible following their failure to turn up for their scheduled meetings with the PAC ye

Alliance Financial Group posts lower pre-tax profit in FY15

Wednesday, May 27, 2015 - 17:39

KUALA LUMPUR: Alliance Financial Group Bhd posted a lower pre-tax profit of RM703.21 million for the financial year (FY) ended March 31, 2015, from RM749.35 million achieved in the previous year.

CIMB-Principal eyes RM300m in sales from new fund

Wednesday, May 27, 2015 - 17:33

KUALA LUMPUR: – CIMB-Principal Asset Management (CIMB-Principal) aims to raise RM300 million in sales from its newly-launched Global Dividend Maximiser Fund by year-end.

KL shares continue downtrend at mid-afternoon

Wednesday, May 27, 2015 - 16:29

KUALA LUMPUR: Shares on Bursa Malaysia continued the downtrend on weak buying sentiment at mid-afternoon today with the key benchmark index 12.32 per cent easier..

1MDB’s audited assets worth RM51.4b

Wednesday, May 27, 2015 - 16:28

KUALA LUMPUR: – The total worth of 1Malaysia Development Bhd (1MDB) audited assets for the financial year ended March 31, 2014 was RM51.4 billion, the Dewan Rakyat was told today.

HLFG’s shares up 14 sen despite lower Q3 earnings

Wednesday, May 27, 2015 - 15:21

KUALA LUMPUR: Hong Leong Financial Group’s (HLFG) shares on Bursa Malaysia rose 14 sen at mid-morning today due to bright prospects, despite lower earnings for the third quarter ended March 31, 2015.

Research firms maintain “hold” call on FGV

Wednesday, May 27, 2015 - 15:18

KUALA LUMPUR: Research firms are still maintaining their “hold” call on Felda Global Ventures Holdings Bhd (FGV) despite a slow down in its first quarter results ended March 31, 2015.

Customs Dept collects RM2.58b in GST from imports

Wednesday, May 27, 2015 - 14:56

KUALA LUMPUR: – The Royal Malaysian Customs Department has collected RM2.58 billion as Goods and Services Tax (GST) from imports since implementation of the new tax system on April 1.

Matrade eyes more e-marketplaces collaboration for eTrade

Wednesday, May 27, 2015 - 14:41

KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) is eyeing collaboration with other established international e-marketplaces like eBay, Taobao and Amazon.com to provide options that can help local companies under the eTRADE programme.

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