Business

EPF expects local mart to do well

By FRANCIS DASS - Wednesday, 4 May 2016.

KUALA LUMPUR: The Employees Provident Fund (EPF), which posted a 13.2 per cent growth in investment income last year, expects the domestic market to perform better this year amid a volatile external environment.

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Timely policy responses enabled Malaysia to weather shocks: IMF executive board

By RUPA DAMODARAN - Thursday, May 5, 2016 - 00:16

KUALA LUMPUR: The International Monetary Fund, in giving the thumbs up for the outlook of the Malaysian economy, said pushing ahead with structural reforms will be important to raise the growth potential.

Prasarana announces 96 successful tender applicants for LRT3 project

By LIDIANA ROSLI - Wednesday, May 4, 2016 - 18:02

KUALA LUMPUR: Prasarana Malaysia Bhd today announced the 96 successful tender applicants out of 124 which met the requirements for the 37km Light Rail Transit Line 3 (LRT3) project.

Indonesia growth slower than forecast in blow to Widodo

By AFP - Wednesday, May 4, 2016 - 14:02

JAKARTA: Indonesia’s growth rate was slower than forecast in the first quarter of 2016, official data showed Wednesday, in a blow to President Joko Widodo’s efforts to boost Southeast Asia’s top economy.

World's first Islamic VC fund takes shape, led by Malaysia

By RUPA DAMODARAN - Wednesday, May 4, 2016 - 12:54

KUALA LUMPUR: The world's first Islamic venture capital fund will take shape at the end of this month, with Malaysia taking the lead.

Malaysia 2nd most attractive for infrastructure investment in Asia

By RUPA DAMODARAN - Wednesday, May 4, 2016 - 11:01

KUALA LUMPUR: Malaysia ranks No. 2 in terms of attractiveness for infrastructure investment in Asia.

Ringgit at 3.97 against USD

By Bernama - Wednesday, May 4, 2016 - 10:03

KUALA LUMPUR: The ringgit opened lower against the US dollar, pressured by lack of demand.

Market confident that 1MDB default risks are manageable: UOB Bank

By RUPA DAMODARAN - Tuesday, May 3, 2016 - 16:33

KUALA LUMPUR: Markets are showing some level of confidence that the risks to the recent 1MDB default on its interest payment are manageable, says UOB Bank.

Lights out: Philips to launch IPO for lighting division

By AP - Tuesday, May 3, 2016 - 14:52

THE HAGUE: Royal Philips NV says it is spinning off its iconic lighting division in an initial public offering so it can focus on its future as a health technology provider.

Bank Muamalat signs corporate integrity pledge with MACC

By Farah Adilla - Tuesday, May 3, 2016 - 14:45

KUALA LUMPUR: Bank Muamalat Malaysia Bhd has signed the Corporate Integrity Pledge of Malaysia Anti-Corruption Commission (MACC), in conjunction with the company's Integrity Day celebration today.

Bank Muamalat targeting 6-8pct loan growth this year

By Farah Adilla - Tuesday, May 3, 2016 - 13:22

KUALA LUMPUR: Bank Muamalat Malaysia Bhd is targeting a six to eight per cent loan growth this year, focusing on both consumer and corporate base loans.

EPF: Our exposure to 1MDB is very limited

By FRANCIS DASS - Tuesday, May 3, 2016 - 13:05

KUALA LUMPUR: The Employees Provident Fund (EPF) has minimal exposure to 1Malaysia Development Bhd's (1MDB) overall debts.

Malaysia ranks No 2 in Asia and No 5 globally for infrastructure investment

By RUPA DAMODARAN - Tuesday, May 3, 2016 - 13:03

KUALA LUMPUR: Malaysia ranks number two in terms of its attractiveness for infrastructure investment in Asia.

PMI drops to 47.1 in April, down from 48.4 in March

By RUPA DAMODARAN - Tuesday, May 3, 2016 - 12:19

KUALA LUMPUR: Malaysia's production level dropped in April with the Purchasing Managers' Index (PMI) signalling a sharper rate of deterioration in operating conditions.

Johari leads Msian delegation to ADB annual meeting in Frankfurt

By Bernama - Tuesday, May 3, 2016 - 12:00

KUALA LUMPUR: Deputy Finance Minister Datuk Johari Abdul Ghani is leading a Malaysian delegation to the 49th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) and the 19th ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting.

Bursa Malaysia praised for industry leadership role

By FRANCIS DASS - Tuesday, May 3, 2016 - 11:08

KUALA LUMPUR: The World Federation of Exchanges (WFE) and International Options Markets Association (IOMA) have given Bursa Malaysia high marks for taking a leadership role among exchanges.

EPF reports 4.91pct rise in annual contributions in 2015

By FRANCIS DASS - Tuesday, May 3, 2016 - 10:51

KUALA LUMPUR: The Employees Provident Fund (EPF) reported a rise of 4.91 per cent in annual contributions to RM59.98 billion against total annual amount withdrawn of RM44.25 billion, resulting in net inflows of RM15.73 billion in 2015.

Oil prices dip on rising Middle East supply

By Reuters - Tuesday, May 3, 2016 - 09:43

SINGAPORE: Oil prices dipped in early Asian trading on Tuesday on signs that production in the Middle East is continuing to rise, countering falls in US output and threatening to keep a global supply overhang in place for longer.

RM opens at 3.90 against USD

By Bernama - Tuesday, May 3, 2016 - 09:31

KUALA LUMPUR: The ringgit opened easier against the US dollar in the early session on profit-taking, dealers said.

Ferrari names Fiat Chrysler chief Marchionne as CEO

By AP - Monday, May 2, 2016 - 23:35

MILAN: Sergio Marchionne has been named CEO of Ferrari, while retaining his position as chairman, the super sports carmaker announced Monday.

CMA Oman's sukuk regulation aims to provide transparency

By Farah Adilla - Monday, May 2, 2016 - 14:23

KUALA LUMPUR: Capital Market Authority of Oman (CMA Oman) recently issued new sukuk regulations that aim to provide clarity and transparency to market players, while providing protection to investors in sukuk transactions.

KDF expects double-digit growth in derivatives trade

By Farah Adilla - Monday, May 2, 2016 - 11:36

KUALA LUMPUR: Kenanga Deutsche Futures Sdn Bhd (KDF) expects a double-digit growth in derivatives contracts traded on Bursa Malaysia Derivatives Bhd (BMD) this year as more online platforms become available in the market, making it easier to trade.

Set up high-powered tripartite housing task force: NUBE

By Bernama - Saturday, April 30, 2016 - 13:16

KUALA LUMPUR: The National Union of Bank Employees (NUBE) today proposed the setting up of a high-powered tripartite task force comprising representatives from the government, employers and employees to deal specifically with housing policies.

CLIQ sees winding-up order on May 31

Saturday, April 30, 2016 - 11:01

CLIQ Energy Bhd expects to obtain a court order for the winding-up of the special-purpose acquisition company on May 31.

Ringgit likely to trade higher next week

By Bernama - Saturday, April 30, 2016 - 10:19

KUALA LUMPUR: The ringgit is expected to trend higher next week, supported by positive catalysts including the appointment of a new Bank Negara Malaysia Governor and good Economic Transformation Programme highlights.

Boustead Holdings to sell 30pct stake in Jendela Hikmat for RM180m

By OOI TEE CHING - Friday, April 29, 2016 - 17:58

KUALA LUMPUR: Boustead Holdings Bhd shareholders approved of selling its entire 30 per cent stake in Jendela Hikmat Sdn Bhd (JH) to Cascara Sdn Bhd for RM180 million.

Teka appliances, IKEA furniture for Vertu Resort development

By Marina Emmanuel - Friday, April 29, 2016 - 12:49

BATU KAWAN: Property developer Aspen Group - via its subsidiary Aspen Vision City Sdn Bhd - has joined forces with German kitchen and home appliances provider Teka Kuchentechnik (M) Sdn Bhd to provide kitchen appliances for its Vertu Resort development in Batu Kawan.

Malaysia Airlines announces brand new look for Golden Lounges

By Bernama - Friday, April 29, 2016 - 12:15

KUALA LUMPUR: Malaysia Airlines Bhd (MAS) has extensively redesigned its Golden Lounges to offer guests an exciting new pre-flight experience.

Ismee poised to assume No. 2 role at Sime Darby?

Friday, April 29, 2016 - 11:01

KUALA LUMPUR: Tan Sri Ismee Ismail, who will be leaving Tabung Haji on July 1, is likely to assume the No. 2 role at Sime Darby Bhd, holding the post of chief operating officer, said sources.

Bulk of PCG capex going to Rapid, Samur

By FRANCIS DASS - Friday, April 29, 2016 - 11:00

KUALA LUMPUR: Petronas Chemicals Group Bhd (PCG) will pump the bulk of this year’s US$1 billion (RM3.9 billion) capital expenditure (capex) into the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor, and the Sabah Ammonia Urea (Samur) project.

LG Display says to invest almost US$400 mln in S.Korea for OLED capacity

By Reuters - Friday, April 29, 2016 - 10:24

SEOUL: LG Display Co said on Friday it plans to invest 450 billion won (US$395.99 million) in South Korea to build production capacity for flexible organic light-emitting diode (OLED) displays and OLED lighting panels.