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RM1.44b viaduct work awarded to AZRB unit: MRT Corp

RM1.44b viaduct work awarded to AZRB unit: MRT Corp

KUALA LUMPUR: Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) has awarded the RM1.44 billion viaduct work package for the MRT Sungai Buloh-Serdang-Putrajaya (SSP) Line to Ahmad Zaki Sdn Bhd, a unit of Ahmad Zaki Resources Bhd (AZRB). The work package is for the construction and completion of the viaduct guideway and other associated works […]

March 25, 2016 | By | Reply More
Taiwan's Acer sees profits tumble, announces reshuffle

Taiwan's Acer sees profits tumble, announces reshuffle

TAIPEI: Taiwan’s struggling personal computer maker Acer saw its 2015 earnings plunge by two-thirds as it announced a corporate reshuffle that separates off its new businesses, including cloud services and smart devices. Full-year net profit came in at Tw$603.7 million (US$18.5 million), down 66 percent from a year earlier, while revenue fell 20 percent to […]

March 25, 2016 | By | Reply More
Raining money to spur the economy? Not as crazy as it sounds

Raining money to spur the economy? Not as crazy as it sounds

FRANKFURT: Helicopters dropping money in the streets: it’s a vivid metaphor for a drastic form of central bank stimulus that is gaining attention as a possible way to help the global economy out of its malaise. The idea of “helicopter money” is straightforward: central banks would create new cash and give it to people, like […]

March 25, 2016 | By | Reply More
Edra has fully repaid RM700m loan, says 1MDB

Edra has fully repaid RM700m loan, says 1MDB

KUALA LUMPUR: Edra Energy (Langat) Sdn Bhd, a subsidiary of 1Malaysia Development Bhd (1MDB), has fully repaid the RM700 million syndicated term loan facility to a consortium of domestic banks. In a statement today, 1MDB said the repayment was done in accordance with the terms of the loan agreement. “This debt repayment and overall debt […]

March 25, 2016 | By | Reply More
Conglomerate upbeat on air freight business

Conglomerate upbeat on air freight business

SEPANG: DRB-HICOM Bhd wants to ride on the improving air freight business segment by flying to its maiden international markets next month through its unit, Asia Cargo Express (ACE). DRB-HICOM plans to extend ACE’s services to Asean destinations as early as next month. ACE also planned to add three B737 freighters to its fleet in […]

March 25, 2016 | By | Reply More
DRB-HICOM  unveils key  changes

DRB-HICOM unveils key changes

KUALA LUMPUR: DRB-HICOM Bhd, one of the country’s largest conglomerates, yesterday announced key management changes to beef up its automotive, defence and aviation divisions. The biggest change is the secondment of its group finance and corporate chief operating officer (COO) Datuk Ahmad Fuaad Mohd Kenali as Proton Holdings Bhd’s new chief executive officer and executive […]

March 25, 2016 | By | Reply More
RM at 4.01 against USD

RM at 4.01 against USD

KUALA LUMPUR: The ringgit opened higher against the US dollar today on continued buying interest despite the strong greenback, dealers said. At 9.03 am, the ringgit was quoted at 4.0180/0280 versus the US dollar from 4.0245/0295 at 5pm on Thursday. A dealer said the greenback stood firm against other major currencies despite weak economic data […]

March 25, 2016 | By | Reply More
CPI likely to grow at annualised 4.02 per cent

CPI likely to grow at annualised 4.02 per cent

KUALA LUMPUR: The Consumer Price Index is likely to grow by an annualised 4.02 per cent in February said economists. The Statistics Department will release the details today. (FRIDAY) Patricia Oh, senior economist at the AmInvestment Bank expects elevated prices in the first quarter before prices normalise in the second quarter onwards. “Price pressure for […]

March 24, 2016 | By | Reply More
MIDA going through over RM13bil worth of possible investments in O&G sector

MIDA going through over RM13bil worth of possible investments in O&G sector

KUALA LUMPUR: Malaysia Investment Development Authority (MIDA) has received applications for RM13.6 billion of investments in oil and gas (O&G) projects in the first three months of 2016. They include applications from Japan and China. In 2015, MIDA approved a total of 69 O&G related projects worth RM27.9 billion, creating 4,890 potential jobs. MIDA deputy […]

March 24, 2016 | By | Reply More
Samsung to reform authoritarian culture to act like startup

Samsung to reform authoritarian culture to act like startup

In this Oct. 29, 2015 photo, a logo of Samsung Electronics Co. is seen at its shop in Seoul, South Korea. Samsung Electronics, the world’s largest maker of phones, memory chips and television sets, said Thursda, March 24, 2016, it will reform its authoritarian, top-down corporate culture in a bid to act like a lean […]

March 24, 2016 | By | Reply More