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Iran bans banks from using cryptocurrencies

Iran bans banks from using cryptocurrencies

TEHRAN: Iran banned the use of bitcoin and other cryptocurrencies by banks and financial institutions on Monday amid ongoing debate over how best to regulate the technology. “The use of bitcoin and other cryptocurrencies in all the country’s monetary and financial centres was banned,” the central bank said in a statement overnight. It said the […]

April 23, 2018 | By | Reply More
MATRADE targets RM450m sales at CAEXPO 2018

MATRADE targets RM450m sales at CAEXPO 2018

KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) aims to achieve sales of RM450 million at the 15th China ASEAN Expo (Caexpo) 2018 in Nanning from Sept 12 -15. Senior Director of Strategic Planning Division, Datuk Aureen Jean Nonis said MATRADE would conduct a stricter selection process of companies for participation at the expo […]

April 23, 2018 | By | Reply More
Caely Holdings to expand undergarment biz for an eventual listing

Caely Holdings to expand undergarment biz for an eventual listing

PETALING JAYA: Caely Holdings Bhd plans to expand its undergarments business through potential collaboration with China-based lingerie companies and leveraging on the presence of its substantial shareholder Ni Hsin Resources Bhd in Italy, with the ultimate goal of listing the division on one of the stock exchanges. Executive chairperson Datin Fong Nyok Yoon said the […]

April 23, 2018 | By | Reply More
Small caps, the one group not profiting from Malaysia’s stock rally

Small caps, the one group not profiting from Malaysia’s stock rally

The FTSE Bursa Malaysia Small Cap Index has dropped 14% this year, its worst start to the year since 2008. After a stellar 16% rally last year, small-cap stocks in Malaysia have had a rough start to 2018 as investors switch to defensive blue chips ahead of the 14th general election next month. The FTSE […]

April 23, 2018 | By | Reply More
KWAP's gross income expands 42pc to record high RM9b in 2017

KWAP's gross income expands 42pc to record high RM9b in 2017

KUALA LUMPUR: Kumpulan Wang Persaraan (Diperbadankan) (KWAP) gross income expanded 42 per cent to RM9.03 billion in 2017 against RM6.36 billion in 2016, the highest since its inception in 2007, thanks to higher investment income. This was on the back of improved gross return on investment (ROI) to 5.77 per cent in 2017 compared with […]

April 23, 2018 | By | Reply More
Sinotop shares flat on RM164m proposal for construction firm

Sinotop shares flat on RM164m proposal for construction firm

PETALING JAYA: Sinotop Holdings Bhd share price opened flat despite a potential RM164 million bid to buy a 60% interest in construction company Asianmax Corp Sdn Bhd on Friday. In the last one year the company has lost 43% of its share value. It closed unchanged in morning trade at 43 sen. On Friday, Sinotop […]

April 23, 2018 | By | Reply More
KWAP in "critical talks" with foreign insurer for stake buy

KWAP in "critical talks" with foreign insurer for stake buy

KUALA LUMPUR: Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has entered a “critical stage” of negotiations to acquire a stake in one of the top three foreign insurers, according to CEO Datuk Wan Kamaruzaman Wan Ahmad. “It’s a very critical stage at this point of time. Ultimately, we have to have the upper hand. It’s not just about pricing, […]

April 23, 2018 | By | Reply More
KWAP posts record income of RM9.03b in 2017

KWAP posts record income of RM9.03b in 2017

KUALA LUMPUR: Kumpulan Wang Persaraan (Diperbadankan) (KWAP) reported a 42% increase in gross income to RM9.03 billion in 2017 against RM6.36 billion in 2016, the highest since its inception in 2007, driven by better investment income. This was on the back of improved gross return on investment (ROI) to 5.77% in 2017 from 5.35% in […]

April 23, 2018 | By | Reply More
UOB Malaysia's net profit increases 4pc to RM1.14b in 2017

UOB Malaysia's net profit increases 4pc to RM1.14b in 2017

KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd has reported a net profit of RM1.14 billion for the financial year ended 2017, four per cent higher than in the previous year. On the back of steady loan growth and higher interest income from available-for-sale securities, the bank’s net interest income increased 5.4 per cent to RM2.02 […]

April 23, 2018 | By | Reply More
Weststar may list aviation unit

Weststar may list aviation unit

KUALA LUMPUR: The Weststar Group, a diversified regional conglomerate, may list its aviation arm Wetstar Aviation Services Sdn Bhd (WAS) as part of the company’s expansion plan. Its founder and managing director Tan Sri Dr. Syed Azman Syed Ibrahim said the company was currently talking to investment bankers on the options for future growth, including […]

April 23, 2018 | By | Reply More