Malaysia on track to achieve high income status:IMF

By RUPA DAMODARAN - Wednesday, 4 March 2015.

KUALA LUMPUR: Malaysia is on track to reach high income status in five years due to skillful economic management amidst an uneven global recovery, says the International Monetary Fund.


ECB raises growth forecasts for this year and next

Thursday, March 5, 2015 - 22:30

NICOSIA/FRANKFURT: The European Central Bank will launch into quantitative easing next week having increased its economic growth forecasts for this year and next.

TNB’s 1,071MW combined cycle power plant on track for operation in 2016

Thursday, March 5, 2015 - 20:47

KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) 1,071-megawatt (MW) power plant in Seberang Perai, Penang, currently the world’s largest and most efficient gas turbine plant utilising Siemens H-Class technology, is on track for commercial operation on Jan 1, 2016.

SC monitors cybersecurity preparedness among intermediaries

Thursday, March 5, 2015 - 19:27

KUALA LUMPUR: With cyber threats a growing cause for regulatory concern given their evolving nature with diverse origins and motivations, the Securities Commission Malaysia (SC) has begun examinations of security preparedness among intermediaries.

BSN confident new AFC will contribute 10pc of total income

Thursday, March 5, 2015 - 19:24

KUALA LUMPUR: Bank Simpanan Nasional (BSN) is confident its newly-established Auto Finance Centre (AFC) will contribute up to 10 per cent of the bank’s total income within three years.

Federal Govt allocates RM124m to Langkawi’s communication coverage

Thursday, March 5, 2015 - 18:50

LANGKAWI: The federal government has allocated about RM124 million for works to increase communication coverage in Langkawi, said Deputy Communications and Multimedia Minister Datuk Johari Jailani here today.

S&P assigns Petronas Global Sukuk’s Wakala trust certs an 'A-' rating

Thursday, March 5, 2015 - 18:22

KUALA LUMPUR: Standard & Poor's Ratings Services has assigned its preliminary 'A-' issue rating to the proposed US-dollar-denominated Wakala trust certificates to be issued by Petronas Global Sukuk Ltd.

Pos Malaysia’s transformation plan bears fruit

Thursday, March 5, 2015 - 18:11

KUALA LUMPUR: Postal services provider, Pos Malaysia Bhd’s five-year transformation plan is bearing fruit, with a substantial increase in the company’s revenue to RM1.3 billion for financial year 2013 from RM800 million in 2012.

OPR unchanged at 3.25 per cent

Thursday, March 5, 2015 - 18:03

KUALA LUMPUR: Bank Negara Malaysia left borrowing costs unchanged, saying the Overnight Policy Rate at 3.25 per cent is supportive of economic activity.

FTSE Bursa Malaysia update: 5.00pm

Thursday, March 5, 2015 - 17:17

KUALA LUMPUR: At 5.00 p.m. today, there were 288 gainers, 557 losers and 291 counters traded unchanged on the Bursa Malaysia.

Moody's assigns (P)A1 to Petronas' proposed MTN programme and sukuk

Thursday, March 5, 2015 - 16:11

KUALA LUMPUR: Moody's Investors Service has assigned a provisional (P)A1 rating to the US$15 billion medium-term note (MTN) programme to be issued by PETRONAS Capital Ltd and guaranteed by Petroliam Nasional Bhd (Petronas).

Maybank expects strong growth in retail SME financing

Thursday, March 5, 2015 - 15:59

KUALA LUMPUR: Maybank is committed to see further growth in retail small and medium enterprise (SME) financing in 2015 after recording a strong 43 per cent rise to RM7.5 billion in 2014.

KL shares easier mid afternoon

Thursday, March 5, 2015 - 15:30

KUALA LUMPUR: Share prices on Bursa Malaysia remained in the red mid-afternoon on continued profit-taking in most heavyweights, dealers said.

Oil up in Asia trade despite US inventories rise

Thursday, March 5, 2015 - 15:23

SINGAPORE: Oil prices climbed in Asian trade Thursday as signs that a refineries strike in the United States is weakening, overshadowing a rise in US crude stocks, analysts said.

GST Crackdown: 219 businesses in Johor fined RM3.28m

Thursday, March 5, 2015 - 15:08

JOHOR BAHARU: A total of 219 companies and traders have been slapped with compounds totalling RM3.28 million for failing to register for the Goods and Services (GST) before the deadline on Feb. 28.

Bina Puri to build multi-million ringgit spa resort

Thursday, March 5, 2015 - 15:05

KUALA LUMPUR: Bina Puri Holdings Bhd, the country’s integrated civil and building construction services provider, has secured a RM128.5 million contract to construct a spa resort complex in Chendering Beach, Kuala Terengganu.