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Donald Trump holds off hitting the Gulf carriers with sanctions

Donald Trump holds off hitting the Gulf carriers with sanctions

WHEN Donald Trump became America’s president nearly a year ago, lobbyists campaigning for protection for the country’s airlines against competition from the Middle East were overjoyed. But they were less happy on December 13th when it was revealed that Donald Trump has decided to hold off on imposing sanctions against the three big Gulf carriers—Emirates […]

December 15, 2017 | By | Reply More
H&M says to close more stores as customers go online

H&M says to close more stores as customers go online

STOCKHOLM, SWEDEN: Swedish clothing giant Hennes & Mauritz on Friday said sales fell below expectations in the fourth quarter and it would close more stores as customers increasingly prefer to shop online. H&M CEO Karl-Johan Persson said in a statement that the company’s “online sales and sales of the group’s other brands continued to develop […]

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Gamuda registers RM203m Q1 net profit

Gamuda registers RM203m Q1 net profit

KUALA LUMPUR: Gamuda Bhd’s net profit increased 25.2 per cent in the first quarter (Q1) ended October 31, 2017 to RM203.02 million from RM162.15 million. Revenue in the same quarter increased 52.9 per cent to RM771.82 million from RM504.88 million. In a filing to Bursa Malaysia today, the company said the positive revenue and net […]

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Scientex buying land for RM284m

Scientex buying land for RM284m

KUALA LUMPUR: Scientex Bhd’s wholly owned subsidiary, Amber Land Bhd, is acquiring a 335.57 acre land in Johor Bahru from DKTMG Land Sdn Bhd for RM284.19 million. The acquisition will enable Scientex to boost and expand on its existing landbank in Johor as it continues to seek out attractively priced yet strategically located landbank within […]

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Bertam buys land in Sabah, plans RM155m GDV residential project

Bertam buys land in Sabah, plans RM155m GDV residential project

Bertam Alliance Bhd’s wholly owned subsidiary, Wow Land Sdn Bhd, is acquiring a 1.71 ha land in Penampang, Sabah, known as Lot G, from Jumat Laiyo for RM16.3 million cash. The company intends to develop the vacant land into a residential development of 228 condominium units with a total built-up area of about 280,048 sq […]

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LBS to issue RM500 sukuk murabahah

LBS to issue RM500 sukuk murabahah

PETALING JAYA: LBS Bina Group Bhd’s wholly-owned subsidiary LBS Bina Holdings Sdn Bhd (LBSH) has made a lodgement to the Securities Commission Malaysia (SC) for the establishment of the sukuk murabahah programme of up to RM500 million. The sukuk murabahah programme has a tenure of up to 20 years from the date of the first […]

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Gamuda Q1 earnings up 25%

Gamuda Q1 earnings up 25%

PETALING JAYA: Gamuda Bhd’s net profit grew 25% to RM203 million in the first quarter ended Oct 31, 2017 from RM162 million in the previous corresponding quarter due to higher work progress from the group’s various construction projects coupled with stronger overseas property sales and several new property projects in Malaysia. Revenue for the quarter […]

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Kinsteel proposes change of auditors

Kinsteel proposes change of auditors

PETALING JAYA: Kinsteel Bhd has proposed to change its auditors to Messrs Baker Tilly Monteiro Heng for the financial year ending June 31, 2018, in place of the outgoing auditors, Messrs Crowe Horwath. Kinsteel told the stock exchange that Crowe Horwath had expressed their intention not to seek for re-appointment as auditors of the company […]

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Hubline proposes private placement to raise RM23m

Hubline proposes private placement to raise RM23m

PETALING JAYA: Shipping group Hubline Bhd has proposed to undertake a private placement exercise to raise up to RM23.02 million. The group said in a Bursa Malaysia filing that it will be allotting between 47.78%-51.23% of the proceeds raised to repay its bank borrowings, amounting to RM113.85 million, which will be deployed within a year. […]

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Uzma embarks on internal reorganisation

Uzma embarks on internal reorganisation

PETALING JAYA: Uzma Bhd’s internal reorganisation exercise will see units from its wholly-owned subsidiary Uzma Engineering Sdn Bhd being transferred into the holding company and a new wholly-owned subsidiary Uzma Resource Solutions Sdn Bhd. Uzma’s board of directors said in a Bursa Malaysia filing that its cost centers or departments from Uzma Engineering, namely the […]

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