Business

TM targets 4pc revenue expansion this year

By Farah Adilla - Thursday, 23 February 2017.

KUALA LUMPUR: Telekom Malaysia Bhd (TM) is targeting up to four per cent revenue growth for the financial year ending December 31 2017, from RM12.06 billion revenue recorded last year, despite an increasingly challenging business environment.

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Strategies help sustain Media Prima growth

By NST Business - Thursday, February 23, 2017 - 23:55

KUALA LUMPUR: Media Prima Bhd’s move to optimise printing plant capacity and unlock potential cost savings while investing in digital expansion has helped sustain the group’s long-term growth.

Prasarana honoured for public transport infrastructure initiative

By NST ONLINE - Thursday, February 23, 2017 - 15:56

KUALA LUMPUR: Prasarana Malaysia Bhd’s (Prasarana) contribution in the transportation sector was given recognition by the prestigious Middle East Business Leaders Awards (MEBLA).

Malaysia Airlines becomes first local carrier to earn IATA Fast Travel Green cert

By NST ONLINE - Thursday, February 23, 2017 - 15:55

SEPANG: Malaysia Airlines became the first Malaysian carrier to receive the International Air Transport Association (IATA) Fast Travel Green certificate.

SP Setia aims high for 2017, targets RM4 billion in sales

By ZARINA ZAKARIAH - Thursday, February 23, 2017 - 15:50

KUALA LUMPUR: SP Setia Bhd is setting its sights high for 2017 as it eyes target sales of RM4 billion, with 77 per cent expected to be derived from local projects.

Axiata Group reports RM309.4m loss in Q42016

By FRANCIS DASS - Thursday, February 23, 2017 - 15:36

KUALA LUMPUR: Axiata Group Bhd reported a RM309.4 million loss in the final quarter of 2016, in contrast to a net profit of RM467.2 million that the company reported in 4Q2015.

Maybank maintains cautious approach in 2017, but remains confident

By LIDIANA ROSLI - Thursday, February 23, 2017 - 14:19

KUALA LUMPUR: Malaysia's largest banking group by assets, Maybank Group, reports a slight decrease in its 2016 net profit to RM6.74 billion, from RM6.84 billion the year before.

Disrupting the disrupters: Singapore rattles sharing economy with rule change

By Reuters - Thursday, February 23, 2017 - 13:27

SINGAPORE: Singapore, a keen early adopter of the sharing economy, has fired a warning shot across the bow of Airbnb and Uber with tighter rules that could shake up their business models and growth ambitions in Asia.

Bhubaneswar, India's 'temple city' is AirAsia's latest destination

By NST ONLINE - Thursday, February 23, 2017 - 11:49

SEPANG: The ‘Temple City of India’ - Bhubaneswar in the state of Odisha, is the latest destination that AirAsia is offering to travelers, come April 26, 2017.

Plantation commodity exports rise to RM122b

By OOI TEE CHING - Thursday, February 23, 2017 - 11:01

PUTRAJAYA: Malaysia raked in RM121.99 billion from plantation commodity exports last year, thanks to slight improvement in the average pricing of palm oil, rubber and cocoa.

Ringgit higher versus greenback

By Bernama - Thursday, February 23, 2017 - 10:47

KUALA LUMPUR: The ringgit was higher at today’s opening on positive market sentiment that provided it the support, a dealer said.

Nissan CEO Carlos Ghosn to step down, stay as chairman

By AFP - Thursday, February 23, 2017 - 09:06

TOKYO: Nissan boss Carlos Ghosn will step down as chief executive at the Japanese automaker, but will remain chairman as he focuses on its alliance with Renault and Mitsubishi, the company said Thursday.

Tesla says Model 3 on track for volume production by September

By Reuters - Thursday, February 23, 2017 - 09:02

SAN FRANCISCO: Tesla Inc said on Wednesday its mass-market Model 3 sedan was on track for volume production by September, encouraging investors who see the electric vehicle as the avenue to profitability for the young company.

Petronas cost-cutting measures producing results

By A. Jalil Hamid - Wednesday, February 22, 2017 - 13:21

KUALA LUMPUR:PETROLIAM Nasional Bhd’s (Petronas) response to falling oil prices over the last few years has produced the desired results, said president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin.

Prasarana to train Jakarta MRT drivers

By Business Times - Wednesday, February 22, 2017 - 12:41

KUALA LUMPUR: Prasarana Malaysia Bhd, operator of Mecca’s Al Mashaaer Al Mugaddassah Metro Southern Line (MMMSL) in Saudi Arabia, has secured another international job, this time to provide training for train drivers and operation control centre staff of Jakarta’s Mass Rapid Transit (MRT) syste

RM750m mixed development on MCOBA LAND

By AMIR HISYAM RASID - Wednesday, February 22, 2017 - 12:35

UEM Sunrise Bhd will turn a 1.07ha site that currently houses the Malay College Old Boys Association (MCOBA) building in Jalan Syed Putra, here, into a mixed development with gross development value of more than RM750 million .

US oil holds near seven-week high; OPEC upbeat on output curbs

By Reuters - Wednesday, February 22, 2017 - 10:26

TOKYO: US oil prices held near seven-week highs on Wednesday after OPEC signaled optimism over its deal with other producers including Russia to curb production and clear a glut that has weighed on the market since 2014.

Ringgit unchanged against US dollar at opening

By Bernama - Wednesday, February 22, 2017 - 09:49

KUALA LUMPUR: The ringgit opened unchanged against the US dollar in early trade today, as traders were cautious ahead of the US Federal Reserve’s (Fed) meeting, a dealer said.

Petronas signs contract with Chinese consortium for Flexi-HDPE plant

By Bernama - Tuesday, February 21, 2017 - 23:27

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has signed the engineering, procurement, construction and commissioning (EPCC) contract for Pengerang Integrated Complex (PIC)’s Flexible High-Density Polyethylene (Flexi HDPE) plant.

KL remains top choice for commercial investment, development

By Bernama - Tuesday, February 21, 2017 - 16:35

KUALA LUMPUR: Kuala Lumpur remains the top choice for commercial investment or development, followed by Selangor, (23 per cent), Penang (17 per cent), Johor (20 per cent) and Sabah (11 per cent), said Knight Frank Malaysia.

HSBC says net profit dived 82% to US$2.48bil last year

By AFP - Tuesday, February 21, 2017 - 15:24

HONG KONG: HSBC said Tuesday that net profit fell 82 percent in 2016, calling it a period remembered for its “largely unexpected economic and political events“, while it warned of further uncertainty this year.

MPOC chairman's tenure extended

By Bernama - Tuesday, February 21, 2017 - 14:37

KUALA LUMPUR: The Ministry Of Plantation Industries and Commodities has extended the tenure of office of Malaysian Palm Oil Council’s (MPOC) Chairman, Datuk Lee Yeow Chor, for two more years, effective Feb 22, 2017.

IPO: EWI ropes in three major investors

By Farah Adilla - Tuesday, February 21, 2017 - 11:01

KUALA LUMPUR: Employees Provident Fund (EPF), Permodalan Nasional Bhd (PNB) and GuocoLand Ltd have emerged as key investors in Eco World International Bhd (EWI) under the latter’s RM2.5 billion initial public offering (IPO).

EPF dividends: Geopolitical headwinds a concern, says analyst

By AMIR HISYAM RASID - Tuesday, February 21, 2017 - 11:01

KUALA LUMPUR: The Employees Provident Fund (EPF) may struggle to deliver dividends higher than the recently announced 5.7 per cent due to global uncertainties, said an analyst with a local research house.

RM opens at 4.45 against USD

By Bernama - Tuesday, February 21, 2017 - 10:07

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar, in early trade, dampened by persistent interest for the greenback on expectation the US Federal Reserve will raise interest rates.

Rubber industry resilient, thanks to high value exports, says Mah

By OOI TEE CHING - Monday, February 20, 2017 - 20:27

KLANG: Malaysia’s rubber industry is resilient, as downstream businesses continue to invest in the manufacture of high-value exports such as rubber seismic bearings, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.

Eco World Development targeting RM4 billion in sales in 2017

By OOI TEE CHING - Monday, February 20, 2017 - 18:01

SHAH ALAM: Eco World Development Group Bhd, while acknowledging the challenging real estate market, is hopeful of achieving RM4 billion in sales in the current year ending Oct 2017.

Petronas considers $1 bln stake sale in offshore gas project-sources

By Reuters - Monday, February 20, 2017 - 16:04

SINGAPORE: Malaysian state-owned oil and gas firm Petronas is aiming to sell a large minority stake in a prized upstream local gas project for up to $1 billion as it seeks to raise cash and cut development costs, two sources familiar with the matter said.

EPF will remain prudent amid challenging environment, says CEO

By NST Business - Monday, February 20, 2017 - 14:26

KUALA LUMPUR: The Employees' Provident Fund (EPF) aims to sustain its performance this year amid challenging environment.

'Room for further growth'

By AMIR HISYAM RASID - Monday, February 20, 2017 - 14:00

KUALA LUMPUR: Bumiputera Agenda Steering Unit (Teraju) believes there is still room to further grow Bumiputera companies despite having helped some 1,000 companies to gain sales of up to RM40 billion annually.

Ringgit opens easier versus greenback

By Bernama - Monday, February 20, 2017 - 10:04

KUALA LUMPUR: The ringgit extended last week’s downtrend to open easier against the US dollar, in early trade, dampened by weak interest for the currency, delears said.