Recent Articles

Bitcoin is no long the only game in crypto-currency town

Bitcoin is no long the only game in crypto-currency town

IT STARTED as a joke. Dogecoin was launched in 2013 as a bitcoin parody, using as its mascot a Japanese shiba inu dog, a popular internet meme. The crypto-currency was never really used, except for tipping online, and one of its founders has called it quits. But recently its price has soared: on January 7th […]

January 11, 2018 | By | Reply More
Luxury property projects freeze impedes readjustment phase: Ideas senior fellow

Luxury property projects freeze impedes readjustment phase: Ideas senior fellow

KUALA LUMPUR: The government’s move to freeze approvals for luxury property projects is a direct interference in the market as it impedes the readjustment phase that is necessary for the property sector to adjust to the present economic system, according to the Institute for Democracy and Economic Affairs (Ideas) senior fellow Dr Carmelo Ferlito. He […]

January 11, 2018 | By | Reply More
CIMB to trim stakes, cede control of asset management JVs

CIMB to trim stakes, cede control of asset management JVs

KUALA LUMPUR: CIMB Group Holdings Bhd is relinquishing control of its asset management joint ventures with Principal Financial Group Inc by divesting part of its stakes for RM470.29 million. CIMB is expected to recognise a gain on disposal of RM950 million and a common equity tier 1 ratio improvement of 18 bps after the divestment. […]

January 11, 2018 | By | Reply More
Foreign holdings of govt bonds to rise: MARC

Foreign holdings of govt bonds to rise: MARC

PETALING JAYA: Foreign holdings of government bonds are expected to increase towards the end of 2018 and record a net positive inflow, according to the Malaysian Rating Corp Bhd (MARC). This is on the back of expectation of an overnight policy rate (OPR) hike in early 2018; upbeat outlook of the ringgit; improvement in crude […]

January 11, 2018 | By | Reply More
Forex losses dent Atlan Q3 earnings

Forex losses dent Atlan Q3 earnings

PETALING JAYA: Property investment, hospitality and auto-components company Atlan Holdings Bhd’s earnings plunged 90.3% to RM1.61 million in the third quarter ended Nov 30, 2017 (Q3FY18), mainly due to lower profit and foreign exchange losses of RM7.3 million. The company made a net profit of RM16.68 million in the previous year’s corresponding quarter.Its revenue for […]

January 11, 2018 | By | Reply More
Vivocom's major shareholders give HK firm more time to acquire stake

Vivocom's major shareholders give HK firm more time to acquire stake

PETALING JAYA: Vivocom International Holdings Bhd’s substantial shareholders have given Hong Kong-listed CNQC International Holdings Ltd more time to complete the acquisition of a 28.59% equity interest in the company. Ang Li-Hann and Golden Oasis Resources Sdn Bhd have agreed to give CNQC until Jan 25 to complete the purchase. The duration of the indicative […]

January 11, 2018 | By | Reply More
Strong growth in November manufacturing sector sales

Strong growth in November manufacturing sector sales

KUALA LUMPUR: Malaysia’s November manufacturing sales continued to record a strong growth of 10.9%, rising to RM66.6 billion compared with RM60.1 billion reported a year ago. Year on year, the significant increase in sales value in November 2017 was due to increases in electrical and electronic products (8.8%), petroleum, chemical, rubber and plastic products (17.8%) […]

January 11, 2018 | By | Reply More
CIMB expects to recognise RM950m gain on asset management arms' divestment

CIMB expects to recognise RM950m gain on asset management arms' divestment

KUALA LUMPUR: CIMB Group Holdings Bhd and Principal Financial Group (PFG) have signed agreements for for the latter to increase its stake in CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management to 60 per cent. PFG will pay CIMB up to RM470.3 million for the additional ownership stake and upon completion, CIMB will retain […]

January 11, 2018 | By | Reply More
Principal Financial Group up stakes in CIMB's asset management arm for RM470m

Principal Financial Group up stakes in CIMB's asset management arm for RM470m

KUALA LUMPUR: CIMB Group Holdings Bhd and Principal Financial Group (PFG) have signed agreements for for the latter to increase its stake in CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management to 60 per cent. PFG will pay CIMB up to RM470.3 million for the additional ownership stake and upon completion, CIMB will retain […]

January 11, 2018 | By | Reply More
HLT to acquire 55pct stake in HLRI for RM33m

HLT to acquire 55pct stake in HLRI for RM33m

KUALA LUMPUR: HLT Global Bhd is acquiring 5.78 million ordinary shares, or 55 per cent stake, in HL Rubber Industries Sdn Bhd (HLRI) from Suntel International Co Ltd, Kan Mei Yoong and Lee Sow Yin for RM33 million. The purchase will be satisfied via the issuance of 113.79 million new ordinary sahres in HLT at […]

January 11, 2018 | By | Reply More