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Robert Kuok’s firm to buy armed forces fund’s stake in Hillcrest

Robert Kuok’s firm to buy armed forces fund’s stake in Hillcrest

PPB Group Bhd proposes to buy up the Armed Forces Fund Board’s 16.8% equity in property developer Hillcrest Gardens at a premium and in cash. Reuters pic KUALA LUMPUR: Robert Kuok-controlled PPB Group Bhd has agreed to acquire the Armed Forces Fund Board’s (LTAT) entire 16.8% stake in property developer Hillcrest Gardens Sdn Bhd for […]

April 27, 2018 | By | Reply More
Barbie helps Mattel revenue despite Toys ‘R’ Us exit

Barbie helps Mattel revenue despite Toys ‘R’ Us exit

The company has been struggling to turn around a lengthy slump that has seen it overtaken in sales by Hasbro. A girl plays with her dolls. (Facebook pic) NEW YORK: American toymaker Mattel on Thursday announced better-than-expected first-quarter results — despite the bankruptcy of major retailer Toys “R” Us. Although revenue fell 3.7 percent to […]

April 27, 2018 | By | Reply More
Tesla’s board against proposal to require independent chairman

Tesla’s board against proposal to require independent chairman

Elon Musk, chief executive of Tesla, is also the chairman of its board and owns a 20 percent stake in the company. Zang Yi charges her Tesla car at a charging point in Beijing, China, April 13, 2018. (Reuters pic) PALO ALTO: Tesla Inc’s board recommended on Thursday that shareholders vote against a proposal that would […]

April 27, 2018 | By | Reply More
CIMB hopes other banks will offer free online fund transfers

CIMB hopes other banks will offer free online fund transfers

CIMB group chairman Nazir Razak says this will encourage more people to do their transactions online. CIMB group chairman Nazir Razak says allowing free online transfers will have minimal impact on the bank’s bottomline. KUALA LUMPUR: CIMB Bank Bhd said its zero-fee interbank fund transfer has a minimal impact on the bank’s non-interest income (NII). […]

April 26, 2018 | By | Reply More
Zurich looking to sell 30% stake to comply with BNM rule

Zurich looking to sell 30% stake to comply with BNM rule

The Swiss insurer could get RM390 million from sale. Zurich Insurance is considering its options to comply with Bank Negara’s requirement that foreign companies own only a maximum of 70% in local entities. (Reuters pic) KUALA LUMPUR: Zurich Insurance Group AG is working with advisers to cut its stake in its Malaysian life insurance unit, […]

April 26, 2018 | By | Reply More
Samsung Elec flags mobile weakness after record Q1 profit

Samsung Elec flags mobile weakness after record Q1 profit

Samsung Electronics Co Ltd said weakness in the global smartphone market would slow earnings growth, as it reported record quarterly profit on Thursday thanks to strong demand for semiconductors used in servers. The logo of Samsung Electronics is seen at its office building in Seoul, South Korea.(Reuters pic)samsun SEOUL: Samsung Electronics Co Ltd said weakness […]

April 26, 2018 | By | Reply More
Britain pumps cash into artificial intelligence before Brexit

Britain pumps cash into artificial intelligence before Brexit

The government said the AI industry could generate 232 billion pounds for the British economy by 2030. A Visa credit card is seen on a computer keyboard in this picture illustration. (AFP pic) LONDON: Britain announced on Thursday a 1 billion pound (US$1.4 billion) joint investment in the artificial intelligence (AI) industry to capitalise on […]

April 25, 2018 | By | Reply More
Geely teams up with Japan’s Aisin AW to make gearboxes

Geely teams up with Japan’s Aisin AW to make gearboxes

The group sees greater demand for high-end automatic gearboxes that offered upwards of six gears. BEIJING: Geely Auto Holding Group Ltd’s subsidiary, Geely Luo You Engine Company Ltd, today announced a joint venture (JV) with Japan-based Aisin AW Company Ltd for the production of six-speed gearboxes, with the initial plan to produce 400,000 units per […]

April 25, 2018 | By | Reply More
Police in Chinese city seize 600 computers used to mine bitcoin

Police in Chinese city seize 600 computers used to mine bitcoin

The report didn’t say when the police had seized the equipment. Mining rigs of a super computer are pictured inside the bitcoin factory ‘Genesis Farming’ near Reykjavik.(AFP pic) BEIJING: Police in the north China city of Tianjin confiscated 600 computers used to mine bitcoin cryptocurrency after the local power grid operator reported abnormal electricity usage, […]

April 25, 2018 | By | Reply More
Proton succeeds in drawing more dealers

Proton succeeds in drawing more dealers

The automaker has received 170 applications to join its new dealership programme and 30% of them are non-Proton dealers, says Proton Edar Dealers Association. More dealers interested in joining Proton as the company has introduced a new category of 3S — sales, service and spare parts — dealership that is cheaper to set up. KUALA […]

April 24, 2018 | By | Reply More