Business

Stronger oil price boosts markets

By OOI TEE CHING - Friday, 27 May 2016.

KUALA LUMPUR: Brent crude oil rose above US$50 (RM203) a barrel yesterday, leading to a stronger ringgit against the US dollar and Bursa Malaysia erasing losses.

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Japan's Abe to delay sales tax hike until 2019

By Reuters - Sunday, May 29, 2016 - 12:00

TOKYO: Japanese Prime Minister Shinzo Abe plans to delay an increase in sales tax by two and a half years, a government official said on Sunday, as the economy sputters and Abe prepares for a national election.

Power tariff, bandwidth cost cloud data centres

By Farah Adilla - Saturday, May 28, 2016 - 12:53

KUALA LUMPUR: Uncertainty in power tariff remains a major concern among players in Malaysia’s data centre industry this year, as it accounts for up to 40 per cent of operation expenditure.

Bursa Malaysia to trend upwards next week

By Bernama - Saturday, May 28, 2016 - 11:15

KUALA LUMPUR: Bursa Malaysia is expected to trend higher next week prompted by the ringgit’s strength and upswing in global crude oil prices, an economist said.

Short term rates to remain steady next week

By Bernama - Saturday, May 28, 2016 - 11:00

KUALA LUMPUR: The Malaysian money market is likely to remain stable next week with Bank Negara Malaysia (BNM) continuing to intervene to manage surplus liquidity.

Car components maker EMPB upbeat for 2016

By Farah Adilla - Friday, May 27, 2016 - 22:52

SHAH ALAM: Car components-maker EP Manufacturing Bhd (EPMB) is optimistic over its business prospects in the current financial year amid the increasingly challenging environment for automotive industry.

Operating conditions challenging: Moody's banking outlook for Malaysia

By RUPA DAMODARAN - Friday, May 27, 2016 - 21:51

KUALA LUMPUR: Strong capital, stable funding levels and high degree of government support are factors which have enabled the Malaysian banking system to remain stable, says Moody's Investors Service.

AMMB sees 46pct decrease in net profit for Q4

Friday, May 27, 2016 - 17:22

KUALA LUMPUR: AMMB Holdings Bhd’s net profit decreased 46 per cent to RM280.02 million in the fourth quarter ended March 2016 from RM519.22 million mainly due to cautious business sentiment and changes in consumer spending patterns.

WCT seeks to dispose assets to pare down debt

By OOI TEE CHING - Friday, May 27, 2016 - 17:16

KLANG: Construction and property developer WCT Holdings Bhd is looking to sell some of its assets to pare down its debt.

EPMB seeks to expand manufacturing capacity

By Farah Adilla - Friday, May 27, 2016 - 14:39

SHAH ALAM: EP Manufacturing Bhd (EPMB) seeks to expand its manufacturing capacity as the group navigates through a conservative economic climate in 2016.

Maybank records RM11.18b revenue in Q1

By GOH THEAN HOWE - Friday, May 27, 2016 - 14:20

KUALA LUMPUR: Malayan Banking Bhd (Maybank), the country’s top lender, recorded a 21 per cent jump in revenue at RM11.18 billion for the first quarter ended March 31, 2016.

Ringgit strengthens against US dollar at opening

By Bernama - Friday, May 27, 2016 - 10:41

KUALA LUMPUR: The ringgit strengthened against the US dollar at opening today riding on the optimism over a continuous improvement in oil prices, dealers said.

Oil prices retreat from US$50 on oversupply concerns

By Reuters - Friday, May 27, 2016 - 09:08

SINGAPORE: Oil futures dipped further in early Asian trade on Friday, finding resistance at the US$50 a barrel mark as investors worried higher prices could reactivate shuttered crude output, adding to global oversupply.

E&O achieves RM1.1 billion new sales; announces senior management changes

By Marina Emmanuel - Thursday, May 26, 2016 - 20:19

GEORGE TOWN: Property developer Eastern & Oriental Berhad (E&O) today announced it has recorded new property sales amounting to RM1.1 billion in its 2015/ 2016 financial year, the highest annual sales for the group thus far.

MRCB appointed as PDP to develop Kwasa Damansara township

By AMIR HISYAM RASID - Thursday, May 26, 2016 - 16:01

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) has been appointed by Kwasa Land Sdn Bhd as the project delivery partner (PDP) to develop the main infrastructure for the new Kwasa Damansara township.

Google Malaysia to assist small and medium businesses bridge the digital gap

By Marina Emmanuel - Thursday, May 26, 2016 - 15:41

GEORGE TOWN: Google Malaysia is set to continue assisting small and medium businesses (SMBs) in the country to go digital and prioritise an online presence, as more Malaysians take to their smartphones and mobile devices.

Get set for the Genting Dream cruise liner

By LIDIANA ROSLI - Thursday, May 26, 2016 - 15:00

KUALA LUMPUR: Genting Hong Kong, a member of the Genting Group Bhd is set to tap into the burgeoning Asian upper-middle class and affluent market through its Asian-centric cruise line, Genting Dream.

1MDB's fine payment marks end of BNM investigations

By RUPA DAMODARAN - Thursday, May 26, 2016 - 12:36

KUALA LUMPUR: Bank Negara Malaysia governor Datuk Muhammad Ibrahim said the fine paid by 1Malaysia Development Bhd (1MDB) for non-compliance marks the end of the central bank's investigation.

Brent crude surpasses US$50 a barrel for first time this year

By AFP - Thursday, May 26, 2016 - 12:18

SINGAPORE: Brent crude passed US$50 a barrel for the first time in 2016 on Thursday after data showed a fall in US crude inventories, adding to expectations of a tightening global market.

'Ergonomic environment' at new facility

Thursday, May 26, 2016 - 11:00

KUALA LUMPUR: UMW Toyota Motor Sdn Bhd president Datuk Ismet Suki is excited about the planned RM2 billion manufacturing facility in Bukit Raja, Selangor, saying it will provide a better “ergonomic environment” for the staff.

Ringgit opens firmer against US dollar at 4.08

By Bernama - Thursday, May 26, 2016 - 09:47

KUALA LUMPUR: The ringgit opened firmer against the US dollar, in early trade, tracking improved oil prices.

Sime Darby Q3 profits up 60 pct due to asset sales

By OOI TEE CHING - Wednesday, May 25, 2016 - 17:40

KUALA LUMPUR: Sime Darby Bhd's third quarter net profits ended March 2016 jumped 60 per cent to RM663.5 million from RM414.7 million a year ago, thanks to gains from asset sales.

Klang to be site of second Toyota manufacturing plant in Msia

By RUPA DAMODARAN - Wednesday, May 25, 2016 - 13:06

KUALA LUMPUR: UMW Toyota Motor Sdn Bhd today announced that a second manufacturing plant for Toyota passenger cars costing RM2 billion will be built in Malaysia.

RM opens at 4.11 against USD

By Bernama - Wednesday, May 25, 2016 - 09:47

KUALA LUMPUR: The ringgit reversed its downward trend to open higher against the US dollar, in early trade, as sentiment was positively fueled by the rebound in oil prices.

Affinbank, Affin Islamic present education excellence awards to SPM achievers

By NST ONLINE - Tuesday, May 24, 2016 - 22:42

KUALA LUMPUR: Affin Bank Berhad (Affinbank) and Affin Islamic Bank Berhad (Affin Islamic) recently presented Education Excellence Awards to 44 children of staff from all departments and branches who had excelled in their 2015 Sijil Pelajaran Malaysia (SPM) exams.

The Star Media Group posts 8.6 per cent decline in revenue

By NST ONLINE - Tuesday, May 24, 2016 - 20:47

KUALA LUMPUR: The Star Media Group suffered an 8.6 per cent decline in its revenue, taking in only RM198.73 million in the first quarter of 2016.

FGV to defer M&A plans as part of cost-saving initiatives

By GOH THEAN HOWE - Tuesday, May 24, 2016 - 18:05

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV), the world's largest crude palm oil (CPO) producer, has set aside its merger and acquisition (M&A) plans as part of its cost-saving initiatives for a profitable year.

AAB aims to get back into black

By OOI TEE CHING - Tuesday, May 24, 2016 - 17:13

PETALING JAYA: Astral Asia Bhd (AAB), is hopeful of getting back into the black this year after two years of losses, as it is producing more oil palm fruits at higher prices.

Two chapters in RCEP agreement to conclude in June: Mustapa

By RUPA DAMODARAN - Tuesday, May 24, 2016 - 17:08

KUALA LUMPUR: Two chapters of the Regional Comprehensive Economic Cooperation (RCEP) agreement text will likely be concluded in the next round of negotiations in Auckland in June, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

Two chapters in RCEP agreement to conclude in June: Mustapa

By RUPA DAMODARAN - Tuesday, May 24, 2016 - 15:53

KUALA LUMPUR: Two chapters of the Regional Comprehensive Economic Cooperation (RCEP) agreement text will likely be concluded in the next round of negotiations in Auckland in June said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

KUB aims to increase LPG supply by 30pct in three years

By Farah Adilla - Tuesday, May 24, 2016 - 14:27

KUALA LUMPUR: Diversified group KUB Malaysia Bhd aims to increase its supply of liquefied petroleum gas (LPG) cylinder by 30 per cent in the next three years following its planned enhancement of network and improvement of infrastructure.