Malaysia, Japan in talks on Asian aircraft project
KUALA LUMPUR: Malaysia is in discussions with the Japanese government for an Asian aircraft project, which is still at the ideation stage, with Malaysia looking at possibly supplying components. Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof said the idea, envisioned to be like Airbus, for an Asian aircraft came from the Japanese government. “They […]
Barakah Offshore obtains court order to stave off creditors
PETALING JAYA: Financially distressed Barakah Offshore Petroleum Bhd has been granted orders by the High Court of Malaya restraining all proceedings and actions brought against the group and its wholly owned subsidiary PBJV Group Sdn Bhd. The order is valid for a period of 90 days, from Oct 12, 2018 to Jan 9, 2019, according […]
Kerjaya Prospek wins deal to build Marriott hotel
PETALING JAYA: Kerjaya Prospek Bhd has bagged a contract to construct the new Courtyard by Marriott Kuala Lumpur South Hotel, located off Old Klang Road, Kuala Lumpur. The hotel, sited on 5.2-acre freehold commercial land, is expected to be soft launched in the first quarter of 2019 and slated for completion by 2022. Today, Kerjaya […]
Serba Dinamik buys 49% of hydro project operator
PETALING JAYA: Serba Dinamik Holdings Bhd is acquiring a 49% stake in OHP Ventures Incorporated for US$800,000 (RM3.33 million) cash. It told Bursa Malaysia that wholly owned subsidiary Serba Dinamik International Ltd had on Oct 15 entered into a share sale and purchase agreement with OHP Ventures Sdn Bhd for the acquisition. Last January, OHP […]
Trade war cost: China;s Q3 GDP growth seen hitting lowest since 2009
BEIJING: At week’s end, global investors and policy-makers will likely be given a stark reminder of the costs of a bitter Sino-US trade war, with a Reuters poll predicting that China’s third-quarter growth will slow to its weakest pace since the global financial crisis. Domestic demand has been faltering in recent months as US President […]
Uber receives IPO proposals from banks that value firm at US$120b
BENGALURU: Uber Technologies Inc recently received proposals from Wall Street banks valuing the company at as much as US$120 billion (RM498 billion) in an initial public offering that could take place early next year, The Wall Street Journal reported today. Goldman Sachs Group Inc and Morgan Stanley last monthdelivered the valuation proposals to Uber, the […]
Telstra shareholders reject proposed remuneration package for executives
SYDNEY: A majority of Telstra Corporation’s shareholders voted today against its executive pay proposal, raising the possibility the board of Australia’s largest telecom firm could be ousted next year if the protest vote is repeated. Telstra said 61% of its shareholders cast a “no” vote at its annual meeting to reject its remuneration report, capping […]
KL shares close higher on selective play in heavyweights
KUALA LUMPUR: Bursa Malaysia closed higher today, lifted by selective play in heavyweight counters, amid stronger regional markets. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 8.1 points to 1,736.84 against Monday’s close of 1,728.74. The index had opened 0.57 of a point weaker at 1,728.17 and moved between 1,727.34 and 1,736.84 throughout the […]
Bumi Armada denies buying very large crude carrier
PETALING JAYA: Bumi Armada Bhd has denied the acquisition of the very large crude carrier (VLCC) Front Ariake. “The company wishes to clarify that it did not purchase the VLCC Front Ariake,” it said in a filing with the stock exchange. It was reported that the VLCC Front Ariake had been sold to Bumi Armada […]
Entrepreneur Development Ministry reviewing entrepreneurship initiatives
KUALA LUMPUR: The Ministry of Entrepreneur Development (MED) is reviewing all the policies and initiatives regarding the development of entrepreneurs and SMEs with the intent to make it more holistic, integrated and targeted. Minister Datuk Seri Mohd Redzuan Yusof said it is the Ministry’s mission to widen and coordinate entrepreneurial activities to be more targeted, […]
