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EPF to boost investments in shariah-compliant private equity

EPF to boost investments in shariah-compliant private equity

KUALA LUMPUR: The Employees Provident Fund (EPF) is prepared to increase its investments in shariah-compliant private equity (PE) funds, said its Investment Deputy Chief Executive Officer, Datuk Mohamad Nasir Ab Latif. He said, however, there was a limited number of the said funds. Mohamad Nasir said the pension fund has not met its full asset […]

September 19, 2017 | By | Reply More
Geely, DRB-HICOM to finalise business plan by end-September

Geely, DRB-HICOM to finalise business plan by end-September

GANSU: China’s Geely Holdings Group and DRB-HICOM Bhd will finalise Proton Holdings Bhd’s business plan by the end of the month. In disclosing this, Geely chairman Li Shufu said Malaysia and China would begin to embark on a new journey in the local automotive industry. “By end of this month, we will close the (Proton) […]

September 19, 2017 | By | Reply More
'Car nation' Germany distrustful of driverless vehicles

'Car nation' Germany distrustful of driverless vehicles

FRANKFURT AM MAIN: German carmakers are showing off their self-driving cars at the IAA international auto show in Frankfurt, but most people in the car-mad country have yet to be convinced by the technology. Curious visitors to the biennial trade fair, which lasts until September 24, can entrust their lives to a computer on a […]

September 19, 2017 | By | Reply More
Playtime is over: Toys 'R' Us files for bankruptcy protection

Playtime is over: Toys 'R' Us files for bankruptcy protection

NEW YORK: Toys ‘R’ Us Inc, the largest US toy store chain, filed for bankruptcy protection on Monday, the latest sign of turmoil in the retail industry caught in a viselike grip of online shopping and discount chains. Toys ‘R’ Us said it received a commitment for over US$3 billion in debtor-in-possession financing from lenders […]

September 19, 2017 | By | Reply More
BASF Petronas Chemicals appoints Dr Sven Crone as MD

BASF Petronas Chemicals appoints Dr Sven Crone as MD

KUALA LUMPUR: BASF Petronas Chemicals Sdn Bhd has appointed Dr Sven Crone as its Managing Director, effective Sept 1, 2017. He succeeds Dr Stefan F. Beckmann who was preparing for a new assignment within the BASF Group, said the company in a statement. Prior to this appointment, Crone held various management positions within the group, […]

September 19, 2017 | By | Reply More
Sept 19: Ringgit opens marginally lower against US dollar

Sept 19: Ringgit opens marginally lower against US dollar

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar this morning as the greenback strengthened ahead of the US Federal Open Market Committee (FOMC) meeting this week. At 9am, the local unit was quoted at 4.1880/1920 against the US dollar, from 4.1870/1900 on Monday. A dealer said investors are awaiting clues on US […]

September 19, 2017 | By | Reply More
Change in new REIT tax ruling may push for more IPO interests: Maybank IB

Change in new REIT tax ruling may push for more IPO interests: Maybank IB

KUALA LUMPUR: Maybank IB Research believed that the revision in the Inland Revenue Board of Malaysia’s (IRB) Taxation of Real Estate Investment Trust (REIT) may lift initial public offering (IPO) interests for unlisted REITs in Malaysia. The new ruling states that REITs which are not listed on Bursa Malaysia would no longer enjoy any tax […]

September 19, 2017 | By | Reply More
Bank Negara nod to FGV unit's stake sale in AXA Affin to Affin Holdings for RM99m

Bank Negara nod to FGV unit's stake sale in AXA Affin to Affin Holdings for RM99m

KUALA LUMPUR: Affin Holdings Bhd has gained Bank Negara Malaysia’s nod to acquire a 7.07 per cent stake in AXA Affin General Insurance Bhd from Felda Marketing Services Sdn Bhd for RM99.09 million in cash. In a filing to Bursa Malaysia, the company said it had received a letter dated September 18 2017, from Bank […]

September 18, 2017 | By | Reply More
Sept 18: Ringgit closes higher against most major currencies

Sept 18: Ringgit closes higher against most major currencies

KUALA LUMPUR: The ringgit closed higher against the US dollar and most emerging nations’ currencies today on strong buying momentum for the local note, a dealer said. At 6pm, the local unit was quoted at 4.1870/1900 against the US dollar, from 4.1880/1910 last Friday. Higher global oil prices also helped push the ringgit to close […]

September 18, 2017 | By | Reply More
Outgoing Proton boss Ahmad Fuaad to helm Malakoff

Outgoing Proton boss Ahmad Fuaad to helm Malakoff

KUALA LUMPUR: Outgoing Proton Holdings Bhd chief executive officer (CEO) Datuk Ahmad Fuaad Mohd Kenali will be the new Malakoff Corp Bhd CEO effective October 1. Ahmad Fuaad will still helm Proton until September 30. He is also a board member of Proton. Malakoff acting chief executive officer Habib Husin will cease the position effective […]

September 18, 2017 | By | Reply More