Business

Johan to take over as TH chief

Friday, 29 April 2016.

KUALA LUMPUR: Datuk Johan Abdullah will take over as Tabung Haji group managing director and chief executive officer (CEO), replacing Tan Sri Ismee Ismail.

Latest

Boustead Holdings to sell 30pct stake in Jendela Hikmat for RM180m

By OOI TEE CHING - Friday, April 29, 2016 - 17:58

KUALA LUMPUR: Boustead Holdings Bhd shareholders approved of selling its entire 30 per cent stake in Jendela Hikmat Sdn Bhd (JH) to Cascara Sdn Bhd for RM180 million.

Teka appliances, IKEA furniture for Vertu Resort development

By Marina Emmanuel - Friday, April 29, 2016 - 12:49

BATU KAWAN: Property developer Aspen Group - via its subsidiary Aspen Vision City Sdn Bhd - has joined forces with German kitchen and home appliances provider Teka Kuchentechnik (M) Sdn Bhd to provide kitchen appliances for its Vertu Resort development in Batu Kawan.

Malaysia Airlines announces brand new look for Golden Lounges

By Bernama - Friday, April 29, 2016 - 12:15

KUALA LUMPUR: Malaysia Airlines Bhd (MAS) has extensively redesigned its Golden Lounges to offer guests an exciting new pre-flight experience.

Ismee poised to assume No. 2 role at Sime Darby?

Friday, April 29, 2016 - 11:01

KUALA LUMPUR: Tan Sri Ismee Ismail, who will be leaving Tabung Haji on July 1, is likely to assume the No. 2 role at Sime Darby Bhd, holding the post of chief operating officer, said sources.

Bulk of PCG capex going to Rapid, Samur

By FRANCIS DASS - Friday, April 29, 2016 - 11:00

KUALA LUMPUR: Petronas Chemicals Group Bhd (PCG) will pump the bulk of this year’s US$1 billion (RM3.9 billion) capital expenditure (capex) into the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor, and the Sabah Ammonia Urea (Samur) project.

LG Display says to invest almost US$400 mln in S.Korea for OLED capacity

By Reuters - Friday, April 29, 2016 - 10:24

SEOUL: LG Display Co said on Friday it plans to invest 450 billion won (US$395.99 million) in South Korea to build production capacity for flexible organic light-emitting diode (OLED) displays and OLED lighting panels.

Comcast to buy DreamWorks Animation for US$3.8 billion

By Reuters - Friday, April 29, 2016 - 08:59

Comcast Corp, the owner of NBCUniversal, said on Thursday it would buy Hollywood studio DreamWorks Animation SKG Inc for US$3.8 billion to boost its family-friendly offerings and help it take on media conglomerate Walt Disney.

Sony swings to US$1.4 bn full-year profit as PlayStation sales soar

By AFP - Thursday, April 28, 2016 - 15:52

TOKYO: Sony posted a US$1.4 billion annual profit Thursday, boosted by strong sales of its PlayStation console, but analysts warned that slowing smartphone demand could hit a lucrative business that makes key parts for mobile devices.

TM unfazed over borrowings despite currency volatility

By Farah Adilla - Thursday, April 28, 2016 - 14:57

KUALA LUMPUR: Telekom Malaysia Bhd's (TM) unhedged long term US dollar denominated borrowings, only due in 2025, is at a manageable level of 13 per cent or US$200 million despite the volatility of the local currency against the greenback.

Petronas Chemicals Group to pump bulk of RM1b capex into RAPID project

By FRANCIS DASS - Thursday, April 28, 2016 - 14:30

KUALA LUMPUR: Petronas Chemicals Group Bhd (PCG) will pump the bulk of this year's US$1 billion capital expenditure allocation into the RAPID (Refinery and Petrochemical Integrated Development) project in Pengerang, Johor.

(PROFILE) Tabung Haji's new Group MD & CEO Datuk Johan Abdullah

By NSTOnline - Thursday, April 28, 2016 - 14:28

KUALA LUMPUR: Datuk Johan Abdullah was today announced as the new Tabung Haji Group Managing Director and Chief Executive Officer.

Banking stocks, ringgit rise on new BNM governor appointment

By Farah Adilla - Thursday, April 28, 2016 - 11:29

KUALA LUMPUR: Banking stocks and the ringgit rose in early trade today after Wednesday's announcement on the appointment of Datuk Muhammad Ibrahim as the next Bank Negara governor.

MAHB aims to resolve dispute by year-end

By BILQIS BAHARI - Thursday, April 28, 2016 - 11:01

SEPANG: Malaysia Airports Holdings Bhd (MAHB) hopes to resolve its dispute with Kuala Lumpur Aviation Fuelling System Sdn Bhd (KASF) over the contract period of their airport facilities agreement (AFA) by year-end.

Early smartphone launch boosts Samsung profits

By AFP - Thursday, April 28, 2016 - 10:15

SEOUL: Samsung Electronics, the world’s largest smartphone maker, reported a better-than-expected jump in net profits Thursday, boosted by the successful early release of its new flagship Galaxy handset.

Ringgit opens higher against US dollar

By Bernama - Thursday, April 28, 2016 - 09:19

KUALA LUMPUR: The ringgit extended yesterday’s gains to open higher against the US dollar this morning as demand emerged for Asian currencies, including the ringgit, dealers said.

Chobani CEO gives 10 percent ownership stake to employees

By AFP - Thursday, April 28, 2016 - 08:57

NEW YORK: Chobani yogurt founder and CEO Hamdi Ulukaya said Wednesday he had given a 10 percent ownership stake in the company to its approximately 2,000 employees.

Muhammad the right man for BNM Governor post: Economists

By Bernama - Wednesday, April 27, 2016 - 17:21

KUALA LUMPUR: The appointment of Datuk Muhammad Ibrahim as the new Bank Negara Malaysia (BNM) governor was the right move as he is the “right man” for the post, economist Datuk Jalilah Baba said.

(Profile) Who is the new Bank Negara governor?

By NST ONLINE - Wednesday, April 27, 2016 - 16:43

KUALA LUMPUR: Datuk Muhammad Ibrahim was today announced as the successor to outgoing Bank Negara Malaysia Governor Tan Sri Zeti Akhtar Aziz, who had helmed the post for 16 years.

Coca-Cola Bottlers Msia boosts production capability

By AMIR HISYAM - Wednesday, April 27, 2016 - 15:33

NILAI: Coca-Cola Bottlers (Malaysia) Sdn Bhd has installed a new polyethylene terephthalate (PET) production line at its Malaysian Halal manufacturing plant here, which brings its total investment in the country to RM1 billion.

1MDB situation won't have immediate negative impact on sovereign ratings: Fitch

By RUPA DAMODARAN - Wednesday, April 27, 2016 - 15:30

KUALA LUMPUR: The situation surrounding 1Malaysia Development Bhd is not expected to have an immediate negative impact on Malaysia's sovereign ratings, says Fitch Ratings.

1MDB payment default increases contingent liabilities, credit negative for rating: Moody's

By RUPA DAMODARAN - Wednesday, April 27, 2016 - 13:33

KUALA LUMPUR: 1Malaysia Development Bhd's default on its bond coupon payment has raised the probability that the government will have to assume debt servicing obligations related to these 1MDB liabilities.

Ringgit rebounds to open higher against US dollar

By Bernama - Wednesday, April 27, 2016 - 09:18

KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar, after yesterday’s losses, on renewed buying interest for emerging currencies, including the ringgit, dealers said.

Apple's nine-year iPhone juggernaut stops with first sales decline

By Reuters - Wednesday, April 27, 2016 - 09:00

Apple Inc on Tuesday posted its first-ever decline in iPhone sales and its first revenue drop in 13 years as the company credited with inventing the smartphone struggles with an increasingly saturated market.

Bursa Malaysia ends lower on persistent selling

By Bernama - Wednesday, April 27, 2016 - 00:19

KUALA LUMPUR: Bursa Malaysia ended lower across the board on persistent selling by foreign institutional funds, dealers said.

Reach Energy buys Kazakhstan assets for long term potential

By NST - Tuesday, April 26, 2016 - 22:41

KUALA LUMPUR: Reach Energy Bhd says it is buying a good asset in Kazakhstan and asks its investors to see the long-term value of the asset.

Sovereign credit constraints rising in Asia Pacific: Moody's

By RUPA DAMODARAN - Tuesday, April 26, 2016 - 13:32

KUALA LUMPUR: Government debt levels are high for Asia Pacific countries like India, Japan, Malaysia, Pakistan and Sri Lanka, posing a sovereign credit constraint, warns Moody’s.

Local players hold key to continued growth of electrical and electronics industry

By Marina Emmanuel - Tuesday, April 26, 2016 - 13:06

GEORGE TOWN: The continued growth of Malaysia's electrical and electronics (E&E) industry hinges on the ability of its local players to embrace automation and smart manufacturing.

Outlook for palm oil sector improving, credit positive for producers : Fitch Ratings

By RUPA DAMODARAN - Tuesday, April 26, 2016 - 12:39

KUALA LUMPUR: Fitch Ratings says the outlook for the palm oil sector is improving and higher prices will be credit positive for producers.

RHB Islamic Asean Megatrend Fund launched

By Farah Adilla - Tuesday, April 26, 2016 - 11:46

KUALA LUMPUR: RHB Islamic International Asset Management (IIAM) today launched the RHB Islamic Asean Megatrend Fund, leveraging on the growth of potential of Asean markets and rising on trends that will shape the region's future economy.