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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Airasia X shares falls 1.88pc om wider Q1 losses

Thursday, May 28, 2015 - 10:40

KUALA LUMPUR: AirAsia X Bhd’s shares fell 1.88 per cent or half-a-sen in the early session today after posting wider losses for the first quarter ended March 31, 2015.

Short-term rates to remain stable on BNM intervention

Thursday, May 28, 2015 - 10:27

KUALA LUMPUR: Short-term interbank rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.

FTSE Bursa Malaysia update

Thursday, May 28, 2015 - 10:26

KUALA LUMPUR: At 9.30 a.m. today, there were 172 gainers, 171 losers and 189 counters traded unchanged on the Bursa Malaysia.

Ringgit opens lower versus US Dollar

Thursday, May 28, 2015 - 10:25

KUALA LUMPUR: The ringgit eased against the US dollar, in early trade this morning, on lack of buying support for the local unit, said a dealer.

Malaysia ranked world’s 14th most competitive nations by IMD

Thursday, May 28, 2015 - 08:50

KUALA LUMPUR: Malaysia has retained its ranking among the top 15 competitive nations, coming in 14th in the latest World Competitiveness Yearbook 2015 (WCY) by the Swiss-based Institute for Management Development (IMD).

Khazanah to observe MAS Union’s retrenchment benefits according to CA

Wednesday, May 27, 2015 - 22:27

KUALA LUMPUR: – Khazanah Nasional Bhd has agreed to observe the retrenchment package for Malaysia Airlines (MAS) employees in accordance with the collective agreement (CA), which include a 1.5-month salary in lieu of every year of service and not less, MAS Employees Union (Maseu) said.

AirAsia X’s losses widens in 1Q15

Wednesday, May 27, 2015 - 22:05

KUALA LUMPUR: AirAsia X Bhd posted a pre-tax loss of RM117.28 million for the first quarter (Q1) ended March 31, 2015, compared with a pre-tax loss of RM48.13 million previously.

Dutch Lady’s revenue hits RM1 billion mark for FY14

Wednesday, May 27, 2015 - 21:55

KUALA LUMPUR: DUTCH Lady Milk Industries Bhd's pre-tax profit fell to RM148.4 million for the financial year ended December 31 2014, despite revenue increasing by 2.1 per cent to RM1 billion.

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

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