Recent Articles

GLCs – ‘monsters’ in the house?

GLCs – ‘monsters’ in the house?

ABOUT a month before Malaysia’s parliamentary election in May, then-opposition leader Tun Dr Mahathir Mohamad raised concerns over the role that government-linked companies (GLCs) were playing in the economy, being “huge and rich” enough to be considered “monsters”. Data support his description – GLCs account for about half of the benchmark Kuala Lumpur Composite Index, […]

June 20, 2018 | By | Reply More
Misif proposes special power tariffs for sector

Misif proposes special power tariffs for sector

PETALING JAYA: The Malaysian Iron and Steel Industry Federation (Misif) has urged the government to consider special tariff arrangements for the energy needs of the domestic iron and steel industry. In a statement today, the federation also requested that the government consider a moratorium to maintain natural gas price at the rate of RM32.52/MMBtu, for […]

June 20, 2018 | By | Reply More
DNeX’s Ping receives two licences in North Sea

DNeX’s Ping receives two licences in North Sea

PETALING JAYA: Ping Petroleum Limited, an associate company of Dagang NeXchange Berhad (DNeX), has been awarded two licences in the UK Central North Sea. The approval was given by the Oil and Gas Authority of the United Kingdom to Ping’s wholly-owned subsidiary company Ping Petroleum UK Limited (Ping UK) who has partnered with two established […]

June 20, 2018 | By | Reply More
Hap Seng sells Tawau land for RM90.13m

Hap Seng sells Tawau land for RM90.13m

PETALING JAYA: Hap Seng Consolidated Bhd is disposing of two parcels of land measuring 59.24 acres in Tawau, Sabah for RM90.13 million through a related party transaction. Hap Seng said its wholly owned subsidiary Hap Seng Properties Development Sdn Bhd entered into a sale and purchase agreement with Goldcoin Ventures Sdn Bhd for the disposal. It […]

June 20, 2018 | By | Reply More
MYEG explores payment processing in the Philippines

MYEG explores payment processing in the Philippines

PETALING JAYA: MY E.G. Services Bhd (MYEG) is looking to register its associate company I-Pay MYEG Philippines Inc as a financial technology solutions business enterprise license applicant in the Cagayan Special Economic Zone and Freeport. In a filing with Bursa Malaysia today, MYEG said I-Pay MYEG has entered into a memorandum of understanding (MOU) with […]

June 20, 2018 | By | Reply More
Ringgit closes lower against US dollar

Ringgit closes lower against US dollar

KUALA LUMPUR: The ringgit closed lower today against the US dollar as the greenback continued its uptrend and there was reduced demand for emerging market currencies amid ongoing trade tensions. At 6pm, the ringgit was quoted at 4.0040/0070 against the greenback compared with Tuesday’s close of 4.0020/0050. A dealer said the local currency remained under […]

June 20, 2018 | By | Reply More
Toys ‘R’ Us Australia stores to close after failing to sell

Toys ‘R’ Us Australia stores to close after failing to sell

Existing stock will be sold off at the stores as they close in the next few weeks. The closures will also see 700 staff lose their jobs. A Toys R Us store is pictured in Toronto, Ontario, Canada., March 15, 2018. (Reuters pic) MELBOURNE: Australian stores of US chain Toys ‘R’ Us will shut down […]

June 20, 2018 | By | Reply More
Activist Icahn gains control of board in proxy fight at SandRidge Energy

Activist Icahn gains control of board in proxy fight at SandRidge Energy

Carl Icahn eventually intends to sell shale producer SandRidge Energy. Carl Icahn owns a 13.6% stake in SandRidge Energy. (Reuters pic) OKLAHOMA CITY: Activist investor Carl Icahn on Tuesday won a battle for control of SandRidge Energy, taking five seats on the board of the US shale producer that he wants to sell. Shareholders elected […]

June 20, 2018 | By | Reply More
UPS to spend US$130 million on new natural gas vehicles, fuelling stations

UPS to spend US$130 million on new natural gas vehicles, fuelling stations

The money will be spent of 730 CNG vehicles and five fuelling stations. UPS is taking steps to reduce its CO2 emissions. (Reuters pic) LOS ANGELES: Package delivery company UPS on Tuesday said it will invest US$130 million (RM520 million) to buy 730 compressed natural gas (CNG) vehicles and build five more domestic CNG fuelling […]

June 20, 2018 | By | Reply More
Mellanox, Starboard settle on new board members

Mellanox, Starboard settle on new board members

Greg Waters, Jack Olson, and Jon Lazar will replace Dov Baharav, Shai Cohen, and Tom Riordan, who are stepping down. Mellanox reached a settlement with Starboard to appoint new board members. (Reuters pic) NEW YORK: Chipmaker Mellanox Technologies Ltd struck a settlement with activist investor Starboard Value LP to appoint new board members and name […]

June 20, 2018 | By | Reply More