Mega merger details on Oct 8

By ZAIDI ISHAM - Wednesday, 1 October 2014.

THE merger talks between CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) are ongoing, with an announcement expected on October 8.


Short-term rates close steady on BNM intervention

Wednesday, October 1, 2014 - 00:45

KUALA LUMPUR: Short-term interbank rates closed steady yesterday following Bank Negara Malaysia’s (BNM) intervention to absorb surplus liquidity from the financial system.

Tin drops to US$20,400 a tonne

Wednesday, October 1, 2014 - 00:42

KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) traded lower yesterday, influenced by the downtrend in other metal prices, a dealer said.

Gold slips, tracks after CME

Wednesday, October 1, 2014 - 00:39

KUALA LUMPUR: Gold futures contracts lower yesterday, tracking a similar trend on benchmark CME Gold, a dealer said.

CPO futures close higher on strong export performance

Wednesday, October 1, 2014 - 00:36

KUALA LUMPUR: Crude palm oil (CPO) futures closed higher yesterday, thanks to September’s strong export performance.

Ringgit closes flat against US$

Wednesday, October 1, 2014 - 00:31

KUALA LUMPUR: The ringgit closed flat against the US dollar yesterday as it consolidated from the recent sell-off, said a dealer.

Rubber rebounds to close mixed

Wednesday, October 1, 2014 - 00:28

KUALA LUMPUR: Malaysian rubber prices rebounded to close mixed yesterday on the ringgit weakening against the US dollar, a dealer said.

Brent oil slips below US$97 a barrel

Wednesday, October 1, 2014 - 00:24

LONDON: Brent oil slipped below $97 a barrel yesterday, hit by dollar strength and ample supply, and was heading for its deepest quarterly drop in more than two years.

11MP to focus on project privatisation


THE government is looking to offer various tools for the privatisation of new government projects to be undertaken under the 11th Malaysia Plan (11MP), said Minister in Prime Minister’s Department Datuk Seri Abdul Wahid Omar.

TM seals P1 deal with Green Packet, SK Telecom

By FRANCIS DASS - Wednesday, October 1, 2014 - 00:08

KUALA LUMPUR: Telekom Malaysia Bhd (TM) said yesterday it had completed the investment partnership agreement with Green Packet Bhd and SK Telecom Co Ltd to share ownership of Packet One Networks (Malaysia) Sdn Bhd (P1).

Malindo Air aims to fly 2.25m passengers

Wednesday, October 1, 2014 - 00:01

SEPANG: Malindo Air aims to serve about 2.25 million passengers by year-end following the introduction of new routes, including to Singapore and Bandung, Indonesia.

Over 100 firms probed for money laundering

By FRANCIS DASS - Wednesday, October 1, 2014 - 00:00

KUALA LUMPUR: More than 100 companies have been investigated by Bank Negara Malaysia for money laundering activities over the last three years, said Domestic Trade, Cooperatives and Consumerism Ministry secretary-general Datuk Seri Alias Ahmad yesterday.

‘Best growth in 7 years likely’

By RUPA DAMODARANKUALA - Tuesday, September 30, 2014 - 23:59

STAND-OUT performer Malaysia is likely to see its strongest annual growth rate in seven years in 2014, said Standard Chartered Bank (StanChart).

Cathay Financial to buy 20pc of Philippine bank

Tuesday, September 30, 2014 - 23:54

MANILA: Taiwan’s Cathay Financial Holding Co Ltd is set to acquire a fifth of the Philippines’ Rizal Commercial Banking Corp for US$400 million (RM1.3 billion), one of the first of an expected string of deals after Manila relaxed rules for investment in the banking sector.

Samsung unit to sell SDS stake for 1.2tril won

Tuesday, September 30, 2014 - 23:53

SEOUL: Samsung Electro-Mechanics Co Ltd is set to raise up to 1.16 trillion won (RM3.5 billion) by selling via the stock exchange in November its entire stake in affiliate Samsung SDS, the IT services unit of Samsung Group.

China’s factory sector steadies in September

Tuesday, September 30, 2014 - 23:52

BEIJING: China’s vast factory sector showed signs of steadying last month as export orders climbed, a survey showed yesterday, easing fears of a hard landing but pointing to a still-sluggish economy facing considerable risks.

RBS sees lower bad loans losses

Tuesday, September 30, 2014 - 23:52

LONDON: State-backed Royal Bank of Scotland (RBS) will release £800 million (RM4.25 billion) from provisions it had set aside to cover losses on bad loans after an improvement in economic conditions, especially in Ireland.