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1MDB to transfer assets to MoF Inc

1MDB to transfer assets to MoF Inc

PETALING JAYA: The Ministry of Finance announced yesterday that the assets and subsidiaries of 1Malaysia Development Bhd (1MDB) will be transferred to The Minister of Finance Incorporated (MoF Inc), its board of advisers dissolved and a new board of directors be appointed, in keeping with recommendations by the Public Accounts Committee (PAC) report. It will […]

May 4, 2016 | By | Reply More
Prequalified contractors for LRT3 packages named

Prequalified contractors for LRT3 packages named

KUALA LUMPUR: Prasarana Malaysia Bhd has announced the 96 contractors who have prequalified for the infrastructure and systems packages of the RM9 billion Light Rail Transit Line 3 (LRT3) project. The prequalified tenderers include big names like Zecon Bhd, WCT Bhd, Muhibbah Engineering (M) Bhd and Gamuda Bhd. Speaking to a press conference after announcing […]

May 4, 2016 | By | Reply More
F&N’s Q2 profit up 28% on higher sales

F&N’s Q2 profit up 28% on higher sales

PETALING JAYA: Fraser & Neave Holdings Bhd (F&N) saw its net profit rise 28.49% to RM90.57 million for the second quarter ended March 31, 2016 against RM70.49 million in the previous corresponding period, underpinned by higher product sales. Revenue for the quarter under review expanded 6.31% from RM939.89 million to RM999.17 million. The company has […]

May 4, 2016 | By | Reply More
MAA, Solidarity sell takaful arm

MAA, Solidarity sell takaful arm

PETALING JAYA: MAA Group Bhd (MAAG) together with Solidarity Group Holding BSC yesterday agreed to dispose of their entire stake in MAA Takaful Bhd (MAAT) to Zurich Insurance Co Ltd for RM525 million. In a stock exchange announcement yesterday, MAAG said it is disposing of 75 million RM1.00 shares, representing a 75% stake in MAAT, […]

May 4, 2016 | By | Reply More
RAM revises 2016 CPO price outlook upwards

RAM revises 2016 CPO price outlook upwards

PETALING JAYA: RAM Ratings has revised its crude palm oil (CPO) price forecast for 2016 upwards as a prolonged period of unfavourable weather conditions curtail palm oil production growth is expected to alleviate inventory woes, supporting prices. The ratings agency expects the commodity to average between RM2,400-RM2,600 tonnes in the second quarter of this year […]

May 4, 2016 | By | Reply More
Unexciting Q1 corporate earnings seen

Unexciting Q1 corporate earnings seen

PETALING JAYA: AllianceDBS Research expects the upcoming corporate earnings season for the first quarter 2016 (Q1’CY16) to be an unexciting one. “As the 1QCY16 earnings season gets under way, we expect corporate earnings growth to remain weak given persistent weak consumer sentiment,” its head of research Bernard Ching said in a note to investors yesterday. […]

May 4, 2016 | By | Reply More
MISC not in talks to acquire THHE businesses

MISC not in talks to acquire THHE businesses

PETALING JAYA: MISC Bhd has denied news reports of a plan to acquire loss-making TH Heavy Engineering Bhd’s (THHE) floating production and fabrication businesses. MISC told Bursa Malaysia that it is not involved in any ongoing discussions with THHE in relation to the acquisition. News report said there have been talks between MISC and THHE […]

May 4, 2016 | By | Reply More
Ringgit ends easier against US dollar

Ringgit ends easier against US dollar

KUALA LUMPUR: The ringgit closed lower for the second day running against the US dollar on weaker sentiment circulating in the market due to talks on Malaysia’s lower manufacturing data, a dealer said. At 5pm, the local note stood at 3.9860/9950 against the US dollar from 3.9120/9180 on Tuesday. The updates from China, which saw […]

May 4, 2016 | By | Reply More
Bursa Malaysia recovers to end higher

Bursa Malaysia recovers to end higher

KUALA LUMPUR: Bursa Malaysia snapped a seven-day losing streak to close slightly higher today, lifted by continuous buying in selected heavyweights. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 6.14 points to 1,657.58 from Tuesday’s close of 1,651.44. The index moved between 1,636.05 and 1,659.44 throughout the day, after opening 6.67 points easier at […]

May 4, 2016 | By | Reply More
Prasarana announces pre-qualified LRT3 contractors

Prasarana announces pre-qualified LRT3 contractors

KUALA LUMPUR: Prasarana Malaysia Bhd has revealed 96 contractors that are pre-qualified for the infrastructure and systems packages for the RM9 billion Light Rail Transit Line 3 (LRT 3) project. The pre-qualified tenderers include big names like Zecon Bhd, WCT Bhd, Muhibbah Engineering (M) Bhd and Gamuda Bhd. Speaking to a press conference after announcing […]

May 4, 2016 | By | Reply More