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HLIB trims Q3 GDP growth target to 4.5%

HLIB trims Q3 GDP growth target to 4.5%

PETALING JAYA: A combination of an only marginally stronger industrial production index (IPI) and weaker growth in the services index has led Hong Leong Investment Bank (HLIB) to lower its third quarter 2015 (3Q15) gross domestic product (GDP) target to 4.5% from 4.7% previously. Its full-year GDP target however remains unchanged at 5%. HLIB said […]

November 11, 2015 | By | Reply More
Mudajaya plant starts operations

Mudajaya plant starts operations

PETALING JAYA: Mudajaya Group Bhd said its 46%-owned associate, PT Harmoni Energy Indonesia has achieved commercial operation date for its 2 x 7 MW coal-fired steam power plant in Desa Baruta Analalaki, Southeast Sulawesi, Indonesia on Oct 29, 2015. In a filing with Bursa Malaysia yesterday, the group said this was confirmed by PT PLN […]

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Hibiscus Petroleum to acquire Hydra Energy in all-share deal

Hibiscus Petroleum to acquire Hydra Energy in all-share deal

PETALING JAYA: Hibiscus Petroleum Bhd shares plunged as much as 8.5 sen or 23.3% to 28 sen yesterday on news that it plans to acquire Australia-based Hydra Energy Holdings Pty Ltd for an undisclosed price. The all-share deal will see Hydra Energy emerge as Hibiscus Petroleum’s largest shareholder. The counter closed 6 sen or 16.4% […]

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Weida to buy land owner for RM6 million

Weida to buy land owner for RM6 million

PETALING JAYA: Weida (M) Bhd has terminated a RM6 million land deal with Premium Fortune Sdn Bhd (PFSB) and instead plans to now acquire the company. In a filing with Bursa Malaysia yesterday, Weida said its wholly-owned subsidiary Weida Integrated Industries Sdn Bhd (WII) had entered into a deed of rescission and termination with PFSB […]

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Bintai Kinden gets S$17 million deal

Bintai Kinden gets S$17 million deal

PETALING JAYA: Bintai Kinden Corp Bhd’s unit Bintai Kindenko Pte Ltd has received and accepted a letter of intent (LOI) from Shanghai Chong Kee Furniture & Construction Pvt Ltd for air conditioning and mechanical ventilation, electrical and fire installation works. The sub-contract has an indicative value of S$17.28 million (RM53 million). In a filing with […]

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Osram invests €1 billion to build LED chip plant in Kulim

Osram invests €1 billion to build LED chip plant in Kulim

PETALING JAYA: Germany-based lighting manufacturer Osram is investing €1 billion (RM4.68 billion) for the construction of a new light emitting diode (LED) chip plant in Kulim, Kedah. Osram, which made the announcement on Tuesday, said the new plant will be the largest and latest 6-inch LED chip production site worldwide. The €1 billion investment is […]

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Auditor: Doubt over Perwaja’s ability to operate as a going concern

Auditor: Doubt over Perwaja’s ability to operate as a going concern

PETALING JAYA: Perwaja Holdings Bhd’s external auditors Messrs Crowe Horwath has not expressed an opinion on the steel maker’s accounts for the financial year ended June 30, 2015 on concern over the appropriateness of the preparation of the group’s financial statements on a going concern basis and the veracity of carrying amounts of bank balances, […]

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Brite-Tech unit secures RM4 million banking facilities

Brite-Tech unit secures RM4 million banking facilities

PETALING JAYA: Brite-Tech Bhd’s unit, Hooker Chemical Sdn Bhd, has received RM4 million temporary banking facilities from United Overseas Bank (Malaysia) Bhd, to facilitate import and purchases of goods related to the contract awarded by Biovision & Greenergy Sdn Bhd. The money will be used to supply, deliver, install and commission an industrial wastewater treatment […]

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Mlabs proposes capital reduction

Mlabs proposes capital reduction

PETALING JAYA: Mlabs Systems Bhd has proposed a capital reduction exercise to reduce the accumulated losses of the company which stood at RM22.5 million as at Dec 31, 2014. The exercise involves the cancellation of 5 sen from the par value of every 10 sen shares and the proposed reduction of the share premium account […]

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Ringgit ends higher against US dollar

Ringgit ends higher against US dollar

KUALA LUMPUR: The ringgit closed slightly higher against the US dollar today in line with stronger emerging Asian currencies, although gains were capped due to the cautious sentiment. At 5 pm, the ringgit was quoted at 4.3600/3670 against the greenback from 4.3675/3775 recorded on Monday. The local market was closed yesterday for the Deepavali holiday. […]

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