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CLIQ Energy proceeds with Kazakh acquisition

CLIQ Energy proceeds with Kazakh acquisition

KUALA LUMPUR: CLIQ Energy, which has only less than eight months to secure its qualifying assets, will go ahead with the acquisition of oil producing assets in Kazakhstan despite having to fork out more ringgit for the buy. The US$117.3 million acquisition sum for a 51% stake in two oilfield blocks in Kazakhstan was only […]

August 25, 2015 | By | Reply More
China Automobile Parts unfazed by yuan devaluation

China Automobile Parts unfazed by yuan devaluation

KUALA LUMPUR: China Automobile Parts Holdings Ltd (CAP), whose products mainly cater to the Chinese market, does not foresee a significant impact from the recent devaluation of the yuan (also known as renminbi), said managing director Li Guo Qing. While the currency depreciation is generally seen to benefit exporters, he said this may not have […]

August 25, 2015 | By | Reply More
Ferrier Hodgson seeks more time to complete Ire-Tex job

Ferrier Hodgson seeks more time to complete Ire-Tex job

PETALING JAYA: Ire-Tex Corp Bhd’s investigative accountant Ferrier Hodgson MH Sdn Bhd (FHMH) has requested additional time to complete its fieldwork and draft report on the company’s audited financial statements for the financial year ended Dec 31, 2014. The manufacturer was recently in the spotlight over the qualified opinion issued by the company’s external auditors […]

August 25, 2015 | By | Reply More
‘Power people’ must avoid saying stupid things: Nazir

‘Power people’ must avoid saying stupid things: Nazir

PETALING JAYA: A bloodbath in the local and global financial markets on Monday prompted prominent banker CIMB Group chairman Datuk Seri Nazir Razak to post a photo of a floored Wall Street Bull on his widely followed Instagram account yesterday. The post was accompanied by a caption which read: “Dead or wounded? China will determine, […]

August 25, 2015 | By | Reply More
TM has no plans to restructure debt

TM has no plans to restructure debt

KUALA LUMPUR: Telekom Malaysia Bhd (TM) which saw a forex loss of RM14.5 million in the second quarter ended June 30, 2015 (Q2), does not see the need to restructure its debt, explaining that exposure to unhedged foreign currency debt is still manageable. “If you look at our exposure, we have total debt of RM6.9 […]

August 25, 2015 | By | Reply More
Bank Pembangunan to tighten credit policy

Bank Pembangunan to tighten credit policy

KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) aims to tighten its credit policy this year in order to reduce its overall non-performing loan (NPL) ratio to a single digit, from the current 12%, in two years’ time, said its president and group managing director Mohammed Rafidz Ahmed Rasiddi. “This year we are targeting to lower […]

August 25, 2015 | By | Reply More
The ringgit – a bet on sentiment

The ringgit – a bet on sentiment

The question on many people’s mind today is how much worse can the ringgit fare against the US dollar, or rather, will anything work to break the freefall the local currency is experiencing. Unfortunately, the local currency’s trend now is as unpredictable as the weather, even for seasoned analysts. Early this month, analysts were certain […]

August 25, 2015 | By | Reply More
IJM warns of slower year for property arm

IJM warns of slower year for property arm

SUBANG JAYA: IJM Corp Bhd, whose net profit more than doubled in the first quarter ended March 31, 2015 (1Q), is expecting a slow year for its property division. CEO and managing director Datuk Soam Heng Choon said the local property market is facing consumer confidence issues due to the difficulty in getting home loans. […]

August 25, 2015 | By | Reply More
Consumer confidence, housing data signal economy's resilience

Consumer confidence, housing data signal economy's resilience

WASHINGTON: U.S. consumer confidence hit a seven-month high in August and new single-family home sales rebounded in July, suggesting underlying strength in the economy that could still allow the Federal Reserve to raise interest rates this year. Other data on Tuesday showed moderate gains in house prices in June, which should support consumer spending and […]

August 25, 2015 | By | Reply More
Wall Street's rally goes up in smoke, indexes end lower

Wall Street's rally goes up in smoke, indexes end lower

REUTERS: A strong rally on Wall Street evaporated on Tuesday and stocks ended with deep losses as concerns about China’s economy outweighed lower valuations that some saw earlier as bargains. In a dramatic session, major indices turned negative in the final minutes of trading after previously climbing almost 3 percent. Investors cited more worries that […]

August 25, 2015 | By | Reply More