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Fitch: CPO prices to rebound this year

Fitch: CPO prices to rebound this year

KUALA LUMPUR: Crude palm oil (CPO) prices are set to rebound this year after rising in February and March, snapping straight months of decline since last April, said Fitch Ratings. The rebound will come as global demand stabilises for the cheapest, most versatile vegetable oil, and the sustained El Nino effect lowers output in Indonesia […]

April 26, 2016 | By | Reply More
Petronas Gas: RM4.5b capex for next 5 years

Petronas Gas: RM4.5b capex for next 5 years

KUALA LUMPUR: Petronas Gas Bhd (PGB) has allocated RM4.5 billion in capital expenditure (capex) for the next five years, said its chairman Tan Sri Shamsul Azhar Abbas. “We are continuously looking for growth projects…we will continue to maintain our capex kind of expense to the tune of about RM300 million a year and for the […]

April 26, 2016 | By | Reply More
LKL to raise RM22.6m from share sale

LKL to raise RM22.6m from share sale

KUALA LUMPUR: Healthcare furniture and equipment manufacturer LKL International Bhd is looking to raise RM22.6 million from its initial public offering (IPO) to fund capital expenditure and repay bank loans. It plans to be listed on the ACE Market of Bursa Malaysia on May 16. LKL International’s IPO entails the issuance of 113 million new […]

April 26, 2016 | By | Reply More
Nestle’s Q1 net profit up 17.5% on lower operating expenses

Nestle’s Q1 net profit up 17.5% on lower operating expenses

PETALING JAYA: Nestle (Malaysia) Bhd’s net profit for the first quarter ended March 31, 2016 rose 17.46% to RM220.68 million from RM187.88 million a year ago due to higher gross profit and lower operating expenses. In a filing with Bursa Malaysia yesterday, the company said its gross profit rose 4.6% to RM521 million from RM498 […]

April 26, 2016 | By | Reply More
Ringgit ends lower against US dollar

Ringgit ends lower against US dollar

KUALA LUMPUR: The ringgit closed lower against the US dollar today as more investors stayed on the sidelines, awaiting the outcome of two central banks’ meetings over the next few days, dealers said. A dealer said there were positive talks on the outcome of the US Federal Reserve meeting on Wednesday as the central bank […]

April 26, 2016 | By | Reply More
Bursa Malaysia ends lower on persistent selling

Bursa Malaysia ends lower on persistent selling

KUALA LUMPUR: Bursa Malaysia ended lower across the board on persistent selling by foreign institutional funds, dealers said . The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 22.01 points to close at an intraday low of 1,692.50 from Monday’s 1,714.51. It opened 0.61 of a point weaker at 1,713.90 and moved between 1,692.50 and […]

April 26, 2016 | By | Reply More
New tariff hike to boost revenue for Westports this year

New tariff hike to boost revenue for Westports this year

KUALA LUMPUR: Westports Holdings Bhd, which expects a single digit growth for its container volume this year, believes that the new container tariff hike of 15% effective November last year will boost its revenue for the financial year ended Dec 31, 2016 (FY16). “Despite the challenging economic outlook, our revenue this year will be boosted […]

April 26, 2016 | By | Reply More
Petronas Gas set aside RM4.5b capex over next 5 years

Petronas Gas set aside RM4.5b capex over next 5 years

KUALA LUMPUR: Petronas Gas Bhd has allocated RM4.5 billion in capital expenditure (capex) for the next five years. Chairman Tan Sri Shamsul Azhar Abbas said the capex is mainly for growth projects namely the LNG Regasification Terminal (RGT) and Air Separation Unit (ASU) project, both of which are in Pengerang. Speaking to reporters after its […]

April 26, 2016 | By | Reply More
Sona Petroleum shareholders say "no" to Stag deal

Sona Petroleum shareholders say "no" to Stag deal

KUALA LUMPUR: Sona Petroleum Bhd’s plan to acquire the Stag Oilfield for US$25 million (RM96.8 million) as its qualifying acquisition (QA) fell through after 77.39% shareholders voted against the deal at its adjourned EGM today. Only 22.61% shareholders representing 189.33 million shares supported the deal. This was despite Sona Petroleum having promised a fixed 8 […]

April 26, 2016 | By | Reply More
For the love of coffee and the community

For the love of coffee and the community

IF you think the Starbucks brand is just about coffee, think again … or visit its social media platforms to discover the engaging lifestyle brand. In the Klang Valley, Starbucks Malaysia recently hosted 90 children from Hope Worldwide Kuala Lumpur, Sekolah Kebangsaan Jalan Batu and Rumah Titian Kaseh to a day of fun through creative […]

April 26, 2016 | By | Reply More