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Gov losing RM8b in tax revenue from illicit trade : IDEAs

Gov losing RM8b in tax revenue from illicit trade : IDEAs

KUALA LUMPUR: The Institute for Democracy and Economic Affairs (IDEAS) has estimated that government is losing some RM8 billion in tax revenue annually due to illicit trade. Last year, the illicit tobacco market alone is believed to have contributed about RM4.4 billion in tax revenue losses. Apart from the tobacco industry, these losses also come […]

January 18, 2018 | By | Reply More
CIMB Thai returns to the black in 2017 with RM47.6 million net profit

CIMB Thai returns to the black in 2017 with RM47.6 million net profit

PETALING JAYA: CIMB Thai Bank PCL swung to the black registering a net profit of THB 384.9 million (RM47.6 million) for the financial year ended December 31, 2017 against a net loss of THB 629.5 million (RM77.8 million) in 2016. The group said in a statement that it was driven by a 1.8% growth in […]

January 18, 2018 | By | Reply More
EU vote to ban palm biodiesel is 'Black Day' for free trade

EU vote to ban palm biodiesel is 'Black Day' for free trade

PUTRAJAYA: The European Union Parliament’s vote to ban palm biodiesel from January 2021 is a ‘Black Day’ for free trade, Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said. “It’s a Black Day for free trade because the EU Parliament’s vote late last night is a barrier to palm oil trade,” Mah told […]

January 18, 2018 | By | Reply More
Master the Competitiveness

Master the Competitiveness

Ride the next wave in commodity chemicals By Pramodkumar Lakhmapure Area Sales Manager, Southeast Asia, AspenTech Is it truly darkest before dawn? Currently, many emerging commodity chemicals markets, such as China, are experiencing growing pains. Accustomed to easy double digit capacity and demand growth in a market worth trillions of dollars, industry players are realising that […]

January 18, 2018 | By | Reply More
Khazanah raises US$320.8 million in exchangeable sukuk

Khazanah raises US$320.8 million in exchangeable sukuk

KUALA LUMPUR: Khazanah Nasional Bhd today said it has raised US$320.8 million through a sukuk that is exchangeable into CITIC Securities Co Ltd’s Hong-Kong listed H-shares. CITIC Securities, China’s largest securities brokerage firm, will be Khazanah’s eighth exchangeable sukuk offering, with Telekom Malaysia Bhd’s being the inaugural issue in 2006. The zero-coupon sukuk, to be […]

January 18, 2018 | By | Reply More
Ringgit lower against US dollar in early session

Ringgit lower against US dollar in early session

KUALA LUMPUR: The ringgit depreciated against the US dollar in early trade today on a lack of buying momentum, said a dealer. At 9.00am, the ringgit stood at 3.9625/9655 against the greenback from Wednesday’s close 3.9520/9560. Oanda Corp Head of Trading for Asia Pacific, Stephen Innes, said the ringgit would pause for thought as the […]

January 18, 2018 | By | Reply More
Bursa Malaysia opens higher

Bursa Malaysia opens higher

KUALA LUMPUR: Bursa Malaysia extended yesterday’s gains to open higher today on continued buying interest in selected heavyweights and in line with most regional markets, dealers said. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,828.64, up 0.01 of-a-point, from yesterday’s close of 1,828.63.It opened 2.61 points higher at 1,824.55. Overall […]

January 18, 2018 | By | Reply More
Khazanah Nasional issues RM1.27 billion exchangeable sukuk

Khazanah Nasional issues RM1.27 billion exchangeable sukuk

PETALING JAYA: Khazanah Nasional Bhd has priced exchangeable sukuk of US$320.8 million (RM1.27 billion), which will be issued via a Labuan-incorporated independent special purpose vehicle Cindai Capital Ltd. The exchangeable Sukuk would reference the value of H-shares in CITIC Securities Co Ltd , China’s largest securities brokerage firm. The state-owned investment fund said in a […]

January 18, 2018 | By | Reply More
Association of Banks refutes easy access to loans claim

Association of Banks refutes easy access to loans claim

PETALING JAYA: The Association of Banks in Malaysia (ABM) stressed that loans approved by its member banks are assessed stringently and in accordance to their internal approving guidelines and procedures. It was responding to an online portal’s news report on the Consumers Association of Penang’s concerns over rising bankruptcy cases in Malaysia following an easy […]

January 18, 2018 | By | Reply More
South Korea considering shutting down all virtual currency exchanges

South Korea considering shutting down all virtual currency exchanges

SEOUL: South Korea’s financial regulator chief said the government is considering shutting down all local virtual currency exchanges in a national policy committee meeting on Thursday. “(The government) is considering both shutting down all local virtual currency exchanges or just the ones who have been violating the law,” said Choi Jong-ku, chief of Financial Services […]

January 18, 2018 | By | Reply More