Business

Top gainer: UMW Holdings shares soar

By AMIR HISYAM RASID - Saturday, 21 January 2017.

KUALA LUMPUR: UMW Holdings Bhd soared almost 10 per cent yesterday, while its subsidiary UMW Oil & Gas Corp Bhd (UMW O&G) plunged more than 17 per cent, following the announcement of their consolidation plans.

Latest

Automotive industry: Sales lower but resilient

By ZARINA ZAKARIAH - Saturday, January 21, 2017 - 11:01

CYBERJAYA: The Malaysian automotive industry is resilient, considering there were no “surprises” by the industry players last year, despite lower sales figures, according to Malaysia Automotive Institute (MAI) chief.

US stocks rise, dollar falls as Trump era begins

By AFP - Saturday, January 21, 2017 - 08:12

NEW YORK: US stocks rose and the dollar fell Friday as Donald Trump was officially sworn in as the president of the United States and Barack Obama’s term ended.

Nakamichi Corp Bhd to invest US$146 million in Kazakhstan O&G project

By Business Times - Saturday, January 21, 2017 - 00:22

KUALA LUMPUR: Nakamichi Corp Bhd is set to invest US$146 million in an oil and gas project in Kazakhstan.

Int'l reserves at US$94.3 billion: BNM

By RUPA DAMODARAN - Friday, January 20, 2017 - 18:16

KUALA LUMPUR: Bank Negara Malaysia (BNM)'s international reserves stood at US$94.3 billion (RM420.5 billion) as of Jan 13.

IOC and Alibaba launch long-term partnership

By Bernama - Friday, January 20, 2017 - 11:19

DAVOS: The International Olympic Committee (IOC) and Alibaba Group on Thursday jointly announced a long-term partnership running through 2028 at the World Economic Forum (WEF) in Davos, China’s Xinhua news agency reported.

Japan says not considering Toshiba rescue plan

By Reuters - Friday, January 20, 2017 - 10:39

TOKYO: Japan’s minister for economy, trade and industry, Hiroshige Seko, said on Friday a rescue plan for embattled conglomerate Toshiba Corp was not under consideration at his ministry.

Ringgit opens at 4.44 against USD

By Bernama - Friday, January 20, 2017 - 10:17

KUALA LUMPUR: The ringgit opened flat against the US dollar today due to a lack of fresh leads on the currency’s short-term outlook, dealers said.

Indonesia overhauls system for future oil, gas contracts

By Reuters - Friday, January 20, 2017 - 08:00

JAKARTA: Indonesia has adopted a new scheme for future oil and gas production sharing deals so that contractors shoulder the cost of exploration and production, rather than being reimbursed by the government.

THHE Destini secures RM738.8m OPV contract

By Bernama - Friday, January 20, 2017 - 02:44

KUALA LUMPUR: THHE Destini Sdn Bhd has secured a RM738.9 million contract for the supply, delivery, testing and commissioning of three units of offshore patrol vessels (OPVs) for Malaysia Maritime Enforcement Agency.

UMW O&G merges with Icon and Orkim

By OOI TEE CHING and AMIR HISYAM RASID - Thursday, January 19, 2017 - 22:33

KUALA LUMPUR: UMW Oil & Gas Corp Bhd (UMW O&G) will turn into a major integrated offshore service provider as it merge with Ekuiti Nasional Bhd's (Ekuinas) oil and gas units.

Price of rubber gloves to spike as raw material costs surge

By OOI TEE CHING - Thursday, January 19, 2017 - 15:58

KUALA LUMPUR: The Malaysian Rubber Glove Manufacturers Association (Margma) said glove pricing is set to rise as the cost of nitrile and natural latex has surged by more than 55 per cent.

Bank Negara: OPR stays at 3.00 per cent

By RUPA DAMODARAN - Thursday, January 19, 2017 - 15:20

KUALA LUMPUR: As widely anticipated, Bank Negara Malaysia left the Overnight Policy Rate (OPR) unchanged at 3.00 per cent.

M'sian automotive sales slump to lowest level in six years

By GOH THEAN HOWE - Thursday, January 19, 2017 - 14:37

KUALA LUMPUR: Malaysia’s automotive sales have hit their lowest level in six years to 580,124 units in 2016.

Foreign investments pose no harm to domestic elements, says InvestKL CEO

By Farah Adilla - Thursday, January 19, 2017 - 14:06

KUALA LUMPUR: There would not be any cannibalism to domestic elements with continuous inflows of foreign investments, especially from China, said InvestKL chief executive officer Datuk Zainal Amanshah.

MIER lowers M'sia's growth outlook to 4.5 per cent in 2017

By RUPA DAMODARAN - Thursday, January 19, 2017 - 14:02

KUALA LUMPUR: The Malaysian Institute of Economic Research (MIER) has lowered its growth outlook this year to 4.5 per cent, saying external demand is not likely to be as strong as expected.

Axiata raises RM2.7b via stake sale

By LIDIANA ROSLI - Thursday, January 19, 2017 - 11:40

KUALA LUMPUR: AXIATA Group Bhd has raised US$600 million (RM2.7 billion) from its record maiden private placement of a substantial stake in edotco Group.

Ringgit opens slightly lower against US dollar

By Bernama - Thursday, January 19, 2017 - 10:02

KUALA LUMPUR: The ringgit retreated from yesterday’s gains to open slightly lower against the US dollar today on renewed concerns over a possible US interest rate rise, dealer said.

Chicken rice and more: TCRS projects 19pct sales growth this year

By FRANCIS DASS - Wednesday, January 18, 2017 - 13:53

KUALA LUMPUR: TCRS Restaurants Sdn Bhd, operator of 88 The Chicken Rice Shop outlets in Malaysia, expects to see 19 per cent growth in sales in 2017, compared to 2016.

Huashi fund for M101's Skywheel

By John Gilbert - Wednesday, January 18, 2017 - 11:01

KUALA LUMPUR: Integrated property developer M101 Group will receive financial support from China Huashi Enterprise Co Ltd for its iconic M101 Skywheel project following a partnership deal between the two property players yesterday.

Ringgit opens higher against US dollar

By Bernama - Wednesday, January 18, 2017 - 09:47

KUALA LUMPUR: The ringgit continued its upward momentum from yesterday’s close to open higher against the US dollar on Wednesday as more investors shifted interest towards emerging currencies, dealers said.

KL shares higher at opening

By Bernama - Wednesday, January 18, 2017 - 09:43

KUALA LUMPUR, Jan 18 – Shares on Bursa Malaysia opened higher today on bullish sentiment as fears over the Brexit impact eases, dealers said.

Toyo Ink signs MoA with Hau Giang DONRE, confirm Vietnam power plant project

By Business Times - Wednesday, January 18, 2017 - 01:45

KUALA LUMPUR: Toyo Ink Group Bhd yesterday inked a memorandum of agreement (MoA) with the Department of Natural Resources and Environment of Hau Giang Province (Hau Giang DONRE) in Vietnam.

Shahrir: US$505.4mil Eagle High stake buy is funded by gov't

By Ooi Tee Ching and Zafira Anwar - Tuesday, January 17, 2017 - 23:35

KUALA LUMPUR: We are not using the money from the stake sale in Maybank to help pay for the stake buy in Indonesia’s PT Eagle High Plantations Tbk, said newly-appointed Federal Land Development Authority (Felda) chairman Tan Sri Shahrir Abdul Samad.

FMC: Ringgit stable amid declining exchange rate volatility

By Bernama - Tuesday, January 17, 2017 - 21:36

KUALA LUMPUR: The ringgit has been stable amidst global uncertainties and developments in the United States as markets anticipate policy details by the incoming Donald Trump administration.

Asia traders wary before May speech, Trump inauguration

By AFP - Tuesday, January 17, 2017 - 17:43

Carrier to 'go posh' as it focuses on tackling cost, strengthening products

Tuesday, January 17, 2017 - 14:05

Excerpts from the final part of a NST Business interview with Malaysia Airlines Bhd (MAS) group managing director and chief executive officer Peter Bellew.

MAS targets profit by 2018, brand improvement

By BILQIS BAHARI - Tuesday, January 17, 2017 - 14:04

KUALA LUMPUR: Malaysia Airlines Bhd (MAS) enters the Year of the Rooster with two main goals — to break even by end of this year and be profitable next year while rebuilding its brand as the national carrier of Malaysia.

Small caps set to rule

By AMIR HISYAM RASID - Tuesday, January 17, 2017 - 14:01

KUALA LUMPUR: Small-cap stocks will likely outperform the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) with a double-digit growth this year, said analysts.

Morale, confidence slowly returning after difficult times, says MAS boss

By BILQIS BAHARI - Tuesday, January 17, 2017 - 14:01

KUALA LUMPUR: Peter Bellew, 51, the affable group managing director and chief executive officer of Malaysia Airlines Bhd (MAS), is happy to see smiles returning to the faces of staff at the national carrier .

Foreigners turn net buyers with RM382.8m in transactions

Tuesday, January 17, 2017 - 14:00

KUALA LUMPUR: Foreign investors are making a comeback to the local equity market with foreigners mopping up RM382.8 million net last week, the highest since the third week of September.