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UEM Sunrise sells Melbourne apartments

UEM Sunrise sells Melbourne apartments

PETALING JAYA: UEM Sunrise Bhd is selling the serviced apartments component of its Aurora Melbourne Central development in Australia to Ascendas Australia Hotel Trust (AAHT) for AU$120 million (RM370.8 million). In a filing with Bursa Malaysia yesterday, UEM Sunrise said its wholly-owned subsidiary UEM Sunrise (La Trobe Street) Pty Ltd (UEMS LaTrobe) has entered into […]

December 3, 2015 | By | Reply More
No changes in Bursa semi-annual review

No changes in Bursa semi-annual review

PETALING JAYA: FTSE Russell and Bursa Malaysia Bhd have announced that there will be no changes to the constituents of the FBM KLCI, following the semi-annual review of the FTSE Bursa Malaysia Index Series yesterday. The index series is reviewed semi-annually in accordance with the index ground rules. “The FBM KLCI reserve list, comprising the […]

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Economist: Malaysia to see slower economic growth from 2017

Economist: Malaysia to see slower economic growth from 2017

KUALA LUMPUR: Independent global research firm, The Conference Board, expects Malaysia’s economy to grow at 4.5% and 4.6% for 2015 and 2016 respectively, before moderating further to just over 3% from 2017 due to lower productivity expansion. “The real challenge for Malaysia is to let new companies grow and let existing companies that can’t drive […]

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Malaysia Airlines’ plans new group structure

Malaysia Airlines’ plans new group structure

PETALING JAYA: Malaysia Airlines Bhd (MAB), which is working towards a new group structure, has reversed the negative trend in its revenue per available seat kilometre (RASK) during the quarter, which was a result of the route optimisation work conducted in the previous quarter. It said that RASK for the quarter has improved year-on-year, with […]

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Fajarbaru eyes Gemas-JB rail project

Fajarbaru eyes Gemas-JB rail project

KUALA LUMPUR: Construction player Fajarbaru Builder Group Bhd, which is bidding for the RM7.1 billion Gemas-Johor Baru electrified double-track train (EDTT) project, expects to get the tender results by the end of this month, according to its managing director Teo Sock Cheng. “We have already submitted (the bidding for the contract). Hopefully by the end […]

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TPPA: A case of not missing the gravy train

TPPA: A case of not missing the gravy train

PETALING JAYA: Malaysia’s participation in the Trans Pacific Partnership Agreement (TPPA) is in its national interest and non-participation places the country’s policy of close and friendly relations with countries at risk, the Institute of Strategic and International Studies (ISIS) Malaysia said. In a National Interest Analysis (NIA) of Malaysia’s participation in the TPP, ISIS pointed […]

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Federal govt debt at RM623.3 billion as of Sept 30

Federal govt debt at RM623.3 billion as of Sept 30

KUALA LUMPUR: The Federal government debt as of Sept 30 this year was at RM623.3 billion, said Deputy Finance Minister Datuk Johari Abdul Ghani. “Of this amount, 96.4% or RM601.1 billion was domestic debt, with the balance of RM22.2 billion or 3.6% being offshore loans in various denominations of currency. “The government debt is manageable […]

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Oil prices bounce back on eve of OPEC meeting

Oil prices bounce back on eve of OPEC meeting

NEW YORK: Oil prices rose on Thursday (Dec 3) as traders hedged their bets in case OPEC surprises the market and takes decisive action in response to tighten supplies. US benchmark West Texas Intermediate added US$1.14 at US$41.08 a barrel on the New York Mercantile Exchange, making up some of the ground lost in the […]

December 3, 2015 | By | Reply More
Staples ready to sell more assets for Office Depot deal approval: Bloomberg

Staples ready to sell more assets for Office Depot deal approval: Bloomberg

REUTERS: Office supplies retailer Staples Inc is willing to sell more assets to win antitrust approval for its US$6.3 billion takeover of Office Depot Inc , Bloomberg reported on Thursday, citing two people familiar with the matter. Under the deal announced in February, Staples had offered to divest about half of Office Depot’s assets with […]

December 3, 2015 | By | Reply More
Goldman Sachs seeks patent on virtual currency

Goldman Sachs seeks patent on virtual currency

NEW YORK: Goldman Sachs is developing a virtual currency system that aims to revolutionize securities transactions, according to a US patent application filed by the Wall Street investment bank. The technology, named SETLcoin, would transform the securities “clearing” system, where an intermediary reconciles and alters terms between buyers and sellers of stocks, bonds and other […]

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