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MaybankIB cut Malaysia’s 2015 current account forecast

MaybankIB cut Malaysia’s 2015 current account forecast

PETALING JAYA: Maybank Investment Bank Research (MaybankIB) has trimmed Malaysia’s current account surplus to RM34.4 billion or 3.0% of gross domestic product (GDP) from RM40.4 billion or 3.5% of GDP previously. “We continue to expect a challenging external trade environment in the second-half of 2015 (2H15) amid renewed weakness in commodity prices that matters to […]

August 16, 2015 | By | Reply More
Petronas warns of dwindling operating cash flow

Petronas warns of dwindling operating cash flow

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which has been badly hit by the low oil price, has warned that its cash flow from operations this year is not expected to meet its capital expenditure (capex) and dividend commitments moving forward. “This means that we’ll have to persevere through with more austerity measures and will have […]

August 16, 2015 | By | Reply More
Gamuda awarded PDP for RM27b Penang project

Gamuda awarded PDP for RM27b Penang project

PETALING JAYA: Gamuda Bhd has been appointed as the Project Delivery Partner (PDP) by Penang government to implement the RM27 billion Penang Transport Master Plan (PTMP). Gamuda told the stock exchange that SRS Consortium received the letter of award (LoA) from the Penang state government last Friday. The master plan comprises the different public transport […]

August 16, 2015 | By | Reply More
AirAsia’s damage claims ‘wholly unjustified’, says MAHB

AirAsia’s damage claims ‘wholly unjustified’, says MAHB

PETALING JAYA: Malaysia Airports Holdings Bhd (MAHB) has categorically denied that it owes AirAsia Bhd for damages due to cracking and ponding at the klia2, saying that the low-cost carrier claims as “wholly unjustified.” In an announcement to Bursa Malaysia last Friday, MAHB said AirAsia’s demand for RM409 million were “unsupported by any particulars and […]

August 16, 2015 | By | Reply More
FX costs hedged: GAB

FX costs hedged: GAB

PETALING JAYA: Guinness Anchor Bhd (GAB), which posted a 8.1% jump in net profit for the financial year ended June 30, 2015 (FY15), said over half of its foreign exchange (FX) cost exposure is “naturally hedged”. Finance director Atul Chhaparwal said out of its total costs, FX costs excluding duties, stood at a single digit. […]

August 16, 2015 | By | Reply More
Telent seeks listing on Bursa

Telent seeks listing on Bursa

XIAMEN: China-based Telent Outdoor (Hong Kong) Technology Co Ltd, which is seeking listing on the Main Market of Bursa Malaysia, expects its annual growth momentum of between 20-30% to continue, supported by higher demand for outdoor outfits. Ranked second in the China outdoor outfits market, Telent specialises in the design, manufacture, marketing, brand management and […]

August 16, 2015 | By | Reply More
Mah Sing aborts RM359.56m Seremban land acquisition

Mah Sing aborts RM359.56m Seremban land acquisition

PETALING JAYA: Mah Sing Group Bhd has aborted its plans to buy a piece of prime freehold land measuring 1,051.3 acres near Seremban for RM359.56 million. Its wholly-owned subsidiary, Grand Prestige Development Sdn Bhd, had through its solicitors sent a letter to the vendors informing that the sale and purchase agreement (SPA) is void and/or […]

August 16, 2015 | By | Reply More
Toyota halts Tianjin operations through Wednesday after explosions

Toyota halts Tianjin operations through Wednesday after explosions

TOKYO: Toyota Motor Corp. said on Sunday (Aug 16) it will not resume operations through Wednesday near the Chinese port of Tianjin, where huge explosions last week killed more than 100 people. Wednesday’s explosions came during holidays for the Japanese car manufacturer, so there has been no impact so far on production at its three […]

August 16, 2015 | By | Reply More
Merkel says expects Lagarde to push for IMF role in Greek rescue

Merkel says expects Lagarde to push for IMF role in Greek rescue

BERLIN: German Chancellor Angela Merkel said on Sunday that she expected the IMF to participate in a new rescue package for Greece, saying the Washington-based institution’s chief Christine Lagarde had promised to lobby for this with the IMF board. “The IMF took part in the negotiations. It supports (the Greece deal),” Merkel told German public […]

August 16, 2015 | By | Reply More
Investors to look at Fed, earnings with China filter

Investors to look at Fed, earnings with China filter

NEW YORK: Investors will comb through Wednesday’s minutes of the most recent Federal Reserve meeting for indications on how the U.S. central bank will react to the recent yuan devaluation and the further decline in oil prices. The recent outperformance of bank stocks and underperformance of utilities, both on expectations of higher Treasury yields, support […]

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