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Ringgit ends firmer versus greenback

Ringgit ends firmer versus greenback

KUALA LUMPUR: The ringgit ended on a firmer note versus the US dollar today, bolstered by commercial demand, dealers said. At 5 pm, the local note was quoted at 4.2560/2640 against the greenback from 4.2700/2750 on Wednesday. A dealer said despite oil prices falling for the fourth day in a row today, the ringgit was […]

December 10, 2015 | By | Reply More
IUBB in talks over sale of Penang commercial units

IUBB in talks over sale of Penang commercial units

GEORGE TOWN: Ideal United Bintang Berhad (IUBB) is in talks with two potential block buyers for the sale of 17 floors of commercial units in George Town. The company’s executive chairman Datuk Alex Ooi Kee Liang said negotiations should be concluded by the first quarter of the year. “We are in talks with a Singaporean […]

December 10, 2015 | By | Reply More
Asian central banks to look to China more than Fed: Credit Suisse

Asian central banks to look to China more than Fed: Credit Suisse

KUALA LUMPUR: Asian monetary policies are more likely to `follow’ China than the US Federal Reserve Fund next year, says Credit Suisse. With economic growth in the emerging markets more in sync with China, any slowdown in Chinese domestic demand is more likely to offset the potential boost from the economic recovery in the US. […]

December 10, 2015 | By | Reply More
ECO World posts RM411.9m gross profit

ECO World posts RM411.9m gross profit

KUALA LUMPUR: ECO World Development Group Bhd posted a gross profit of RM411.9 million on revenue of RM1.712b for the financial year which ended October 31. Gross margins averaged at 24 per cent. Its President and chief executive officer Datuk Chang Khim Wah said the group achieved its RM3 billion sales target for the fiscal […]

December 10, 2015 | By | Reply More
IPI grew by 4.2pct in Oct: Dept of Stats

IPI grew by 4.2pct in Oct: Dept of Stats

KUALA LUMPUR: The Industrial Production Index expanded by 4.2 per cent in October compared to a year ago supported by growth in manufacturing sector activities.

December 10, 2015 | By | Reply More
SP Setia   ready to ride out challenges

SP Setia ready to ride out challenges

KUALA LUMPUR: SP SETIA Bhd’s ongoing projects worth a collective RM70 billion and unbilled sales of RM9.5 billion will help the group weather what is expected to be a challenging year for property developers next year. Acting president and chief executive officer Datuk Khor Chap Jen said SP Setia is in a relatively strong position […]

December 10, 2015 | By | Reply More
Ringgit opens higher against US Dollar

Ringgit opens higher against US Dollar

KUALA LUMPUR: The ringgit opened higher against the US dollar today on renewed demand for the domestic currency, a dealer said. At 9.40 am, the local unit firmed up against the US dollar to 4.2430/2500 from Wednesday’s 4.2700/2750. The ringgit, was however, mixed against other major currencies. It rose against the Singapore dollar to 3.0266/0338 […]

December 10, 2015 | By | Reply More
Toshiba job cuts could top 1,000

Toshiba job cuts could top 1,000

TOKYO: Japanese conglomerate Toshiba Corp could cut more than 1,000 jobs as it overhauls its weaker operations, including through an imminent sale of its Indonesian television factory, the Nikkei business daily reported on Thursday. Toshiba, whose businesses range from home appliances to nuclear power, has been looking to restructure its operations as it works to […]

December 10, 2015 | By | Reply More
SP Setia inks RM1.07 bill syndicated financing facilities with four banks

SP Setia inks RM1.07 bill syndicated financing facilities with four banks

KUALA LUMPUR: SP Setia Bhd, Malaysia’s leading property developer today inked a RM1.07 billion syndicated financing facilities agreement with four banks for a land swap development transaction. The four banks are CIMB Investment Bank Bhd, Malayan Banking Bhd, AmInvestment Bank Bhd and Industrial and Commercial Bank of China (Malaysia) Bhd. SP Setia, through it’s 50 […]

December 9, 2015 | By | Reply More
40 Bumi firms marked for listing

40 Bumi firms marked for listing

KUALA LUMPUR: The Bumiputera Agenda Steering Unit (Teraju) has identified at least 40 Bumiputera companies with the potential to be listed on Bursa Malaysia in the next two to three years. Teraju chief executive officer Datuk Husni Salleh said some of these companies, groomed under its Skim Jejak Jaya Bumiputera (SJJB) programme, were in the […]

December 9, 2015 | By | Reply More