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UOB Malaysia's net profit increases 4pc to RM1.14b in 2017

UOB Malaysia's net profit increases 4pc to RM1.14b in 2017

KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd has reported a net profit of RM1.14 billion for the financial year ended 2017, four per cent higher than in the previous year. On the back of steady loan growth and higher interest income from available-for-sale securities, the bank’s net interest income increased 5.4 per cent to RM2.02 […]

April 23, 2018 | By | Reply More
Weststar may list aviation unit

Weststar may list aviation unit

KUALA LUMPUR: The Weststar Group, a diversified regional conglomerate, may list its aviation arm Wetstar Aviation Services Sdn Bhd (WAS) as part of the company’s expansion plan. Its founder and managing director Tan Sri Dr. Syed Azman Syed Ibrahim said the company was currently talking to investment bankers on the options for future growth, including […]

April 23, 2018 | By | Reply More
Bursa Malaysia opens higher

Bursa Malaysia opens higher

KUALA LUMPUR: Bursa Malaysia opened higher this morning after taking a breather on last Friday on profit-taking. At 9.06 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) traded at 1,890, up 2.31 points from last Friday’s 1,887.75. The index opened 2.71 points higher at 1,890.46. On the broader market, losers led gainers 102 against […]

April 23, 2018 | By | Reply More
Malaysia's franchise industry is expected to grow five per cent this year

Malaysia's franchise industry is expected to grow five per cent this year

KUALA LUMPUR: Malaysia’s franchise industry is expected to grow five per cent this year due to its good prospects in the international markets. Domestic Trade, Cooperatives and Consumerism Minister, Datuk Seri Hamzah Zainudin said the industry contributed RM27 billion to the country’s gross domestic product (GDP) last year. “Malaysia is on track to be the […]

April 21, 2018 | By | Reply More
Maybank gets BNM approval to acquire asset management firms

Maybank gets BNM approval to acquire asset management firms

KUALA LUMPUR: Bank Negara Malaysia has approved Malayan Banking Bhd’s proposed acquisition of Amanah Mutual Bhd (AMB) and Singapore Unit Trusts Ltd (SUTL) for RM51 million. In its filing with Bursa Malaysia, Maybank said the central bank has approved of its application to acquire the two fund management companies owned by Permodalan Nasional Bhd (PNB). […]

April 20, 2018 | By | Reply More
Bullish oil signals proliferate as OPEC cuts get even deeper

Bullish oil signals proliferate as OPEC cuts get even deeper

KUWAIT: Crude has surged to a three-year high, the stockpile surplus is all but gone and OPEC’s choke-hold on its own production is only getting tighter. As oil ministers gather in Saudi Arabia, the $80 a barrel the kingdom desires is inching closer. “The petro-nations seem willing to over-tighten the market, with the current price […]

April 20, 2018 | By | Reply More
Insurance Australia Group set to sell Thai, Malaysian businesses

Insurance Australia Group set to sell Thai, Malaysian businesses

HONG KONG/SINGAPORE: Insurance Australia Group is set to sell its four Southeast Asian businesses in deals that could be valued at about $500 million, under a review of its Asian operations, three people with knowledge of the matter said. IAG, Australia’s biggest general insurer by market share, has ventures in Malaysia, Thailand, Vietnam and Indonesia […]

April 20, 2018 | By | Reply More
Malaysia's economy to grow the fastest in the region after Philippine in Q1

Malaysia's economy to grow the fastest in the region after Philippine in Q1

KUALA LUMPUR: Economists predict Malaysia’s economy to grow the fastest in Southeast Asia region after The Philippines in the first quarter of this year.   Malaysia is expected to register 5.6 per cent growth in gross domestic product (GDP) for the quarter, higher than emerging economies’ GDP growth expectation at 5.4 per cent. In the forecast, the […]

April 20, 2018 | By | Reply More
Malaysian Airbnb hosts welcomed 1.5 million guests in 2017

Malaysian Airbnb hosts welcomed 1.5 million guests in 2017

 KUALA LUMPUR: Malaysian Airbnb host welcomed 1.5 million guest last year , representing a  137 per cent year-over-year (YoY) growth​ in guest arrivals.  This also represented the highest  YoY growth rate in Southeast Asia.  “Our strong numbers in 2017 reflect an increasing desire for local and authentic travel within Malaysia, among both foreign and domestic […]

April 20, 2018 | By | Reply More
Bank Negara's international reserves at US$110b as of April 13

Bank Negara's international reserves at US$110b as of April 13

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserves amounted to US$110 billion as at April 13, 2018 compared with US$107.8 billion as at March 30, 2018. In a statement today, the central bank said, the reserves position was sufficient to finance 7.7 months of retained imports and was 1.1 times the short-term external debt. The […]

April 20, 2018 | By | Reply More