- China to set up three new free trade zones
December 12, 2014 09:06:50 pm
BEIJING (Dec 12): China will set up three new free-trade zones in Guangdong, Fujian and Tianjin, based on experience drawn from experiments in Shanghai's free trade zone, the cabinet said on Friday. The new zones would be modelled on Shanghai, whose ... - MAHB, Eco World, MUI, IJM, KEuro, Protasco, Talam Transform and GHL Systems
December 12, 2014 09:00:12 pm
KUALA LUMPUR (Dec 12): Based on the newsflow and corporate announcements today, the stocks that may attact interest next Monday (Dec 15) could include the following: Eco World Development Group Bhd, Malayan United Industries Bhd (MUI), IJM Corp Bhd,... - MAHB wins RM192 million contract to repair and maintain Doha airport systems
December 12, 2014 08:56:50 pm
KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) has won a QAR209.48 million or RM192.15 million contract for the repair and maintenance services of the airport special systems at Hamad International Airport (HIA) in Doha, Qatar. Based on a filing... - Futures drop on China data, oil decline; data on tap
December 12, 2014 08:42:00 pm
NEW YORK (Dec 12): U.S. stock index futures fell on Friday, putting the benchmark S&P 500 on track to snap seven weeks of gains, after oil prices fell and Chinese data disappointed. The S&P index had snapped a three-day skid on Thursday, buoy... - Norwegian crown hits 11-yr low as oil slides further
December 12, 2014 08:36:41 pm
LONDON/SYDNEY/TOKYO (Dec 12): Norway's crown plunged to its lowest in more than a decade against the dollar on Friday, a day after its central bank unexpectedly cut interest rates to boost growth as oil prices slid further. Brent crude sank to a 5-1/... - MUI sells 69% stake in Pan Malaysia Holdings at 12 sen per share
December 12, 2014 08:33:30 pm
KUALA LUMPUR (Dec 12): Malayan United Industries Bhd (MUI) is selling its 69.192% equity stake in Pan Malaysia Holdings Bhd (PM Holdings) to Datuk Dr Yu Kuan Chon for RM77.124 million cash or 12 sen pe share, in a move to divest its non-core assets a... - China regulator approves launch of Shanghai oil futures
December 12, 2014 08:32:19 pm
BEIJING (Dec 12): China approved the launch of crude oil futures on the Shanghai Futures Exchange on Friday aiming to bolster global use of its yuan currency although some market players see China's lack of oil market liberalisation limiting the cont... - Ma becomes Asia’s richest person passing Li on Alibaba gain
December 12, 2014 07:53:22 pm
HONG KONG/SINGAPORE (Dec 12): Jack Ma has become the richest person in Asia. The 50-year-old founder of Alibaba Group Holding Ltd., China’s biggest e-commerce company, passed Li Ka-shing, the Hong Kong property and ports tycoon who has held the top s... - Yen extends best week in 16 months as Norway’s Krone declines
December 12, 2014 07:48:15 pm
LONDON/TOKYO/NEW YORK (Dec 12): The yen rose versus the dollar, extending its biggest weekly advance in 16 months, amid a decline in European stocks and before Japan holds national elections this weekend.Categories: Markets... - Don’t be scared of Twitter, bankers told over tea and hashtags
December 12, 2014 07:45:15 pm
(Dec 12): Tweeting bankers can wreak havoc in 140 characters. They can also use Twitter to help restore trust in financial services, according to Kitty Parry, founder of the Social Media Charter. At a seminar in a conference room at the U.K. Houses o... - Oil sinks below $63 to lowest in over 5 years on glut, weak demand
December 12, 2014 07:36:52 pm
LONDON (Dec 12): Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and a sluggish demand outlook. Brent is down over 8 percent this week, some 45 percent below its Ju... - Europe shares set for biggest weekly loss in 2-1/2 years
December 12, 2014 07:31:57 pm
PARIS (Dec 12): European stocks tumbled again on Friday, leaving them on course for their biggest weekly loss since May 2012, as shares in oil and oil services firms sank further along with crude oil prices. The STOXX oil and gas index has plummeted ... - Record oil tankers seen sailing to China amid stockpiling signs
December 12, 2014 07:22:57 pm
LONDON (Dec 12): The number of supertankers sailing to China jumped to a record in ship-tracking data, amid signs that the oil-price crash is spurring the Asian nation to stockpile.Categories: Markets... - Investments in Uber's Indian rivals uncertain after taxi app ban
December 12, 2014 07:20:33 pm
MUMBAI (Dec 12): A ban on online taxi services in India, following the arrest in New Delhi of an Uber driver accused of rape, has brought uncertainty to the millions of dollars of international investment pumped into Uber's Indian rivals Ola and Taxi... - BP chief says company must slim down to match rivals on costs
December 12, 2014 07:17:57 pm
LONDON (Dec 12): BP Plc, dealing with the lowest crude prices in five years, must cut jobs because costs are higher than at the oil company’s global competitors, the chief executive officer told staff this week. “In many parts of BP, we have higher c... - BOJ said to reject adding stimulus to ease CPI blow from oil
December 12, 2014 07:12:23 pm
TOKYO (Dec 12): The Bank of Japan rejects the idea additional monetary stimulus is needed to prevent the decline in oil prices in recent months, from pulling down inflation, according to people familiar with the discussions.Categories: Markets... - Cycas buys more shares in GHL Systems
December 12, 2014 07:00:55 pm
KUALA LUMPUR (Dec 12): Substantial shareholder Cycas, a unit of the private equity fund Creador Sdn Bhd, has bought more shares in GHL Systems Bhd, raising its equity interest to 28.5% in the electronic payment solution provider. The filing with Burs... - Wall Street’s win on swaps rule shows resurgence in Washington
December 12, 2014 07:00:33 pm
WASHINGTON (Dec 12): Wall Street is re-emerging as a force in Washington, as it closes in on one of its biggest wins against regulation since the financial crisis. With must-pass spending legislation making its way through Congress this week, banks s... - Talam posts net profit of RM3.56m for 3QFY15
December 12, 2014 06:47:54 pm
KUALA LUMPUR (Dec 12): Talam Transform Bhd has returned to black with a net profit of RM3.56 million in the third quarter ended Oct 31, 2014, (3QFY15), from a net loss of RM13.07 million a year ago. The property developer attributed the improved earn... - Mega retailers battle to survive as e-commerce booms in China
December 12, 2014 06:45:25 pm
SHANGHAI (Dec 12): It took China's biggest retail chain Suning all last year to generate sales of about $17 billion. Last month, e-commerce giant Alibaba saw sales worth more than half that amount pass through its Tmall website in just one day. Big r... - Copper gains on China stimulus hopes after weak data
December 12, 2014 06:33:29 pm
LONDON (Dec 12): Copper rose on Friday, on hopes that China would unleash more stimulus measures after factory output growth slowed more-than-expected in the world' top metals consumer. Zinc rebounded from lows on buying interest by investors expecti... - MUI sells 69.192% stake in Pan Msia Holdings to Dr Yu Kuan Chon for RM77.12m
December 12, 2014 06:31:57 pm
MUI sells 69.192% stake in Pan Msia Holdings to Dr Yu Kuan Chon for RM77.12m Categories: MarketsCorporate... - IJM Corp-KEuro JV wins RM5.04 billion West Coast Expressway construction job
December 12, 2014 06:21:51 pm
KUALA LUMPUR (Dec 12): A joint venture between IJM Corp Bhd and Kumpulan Europlus Bhd (KEuro) has been awarded the contract to undertake construction works for the West Coast Expressway (WCE). Today, the joint venture accepted the letter of award fro... - Palm pressured by weak crude, market watching monsoon impact
December 12, 2014 06:13:55 pm
KUALA LUMPUR (Dec 12): Malaysian palm oil futures dropped on Friday, tracking falls in crude oil prices and competing vegetable oil markets, although losses were limited by concerns that monsoon rains could curb output in December. The benchmark Febr... - After clampdown, China debt markets price in risk more keenly
December 12, 2014 06:12:34 pm
HONG KONG (Dec 12): Chinese investors are pricing in the higher risk of lower-rated bonds after a debt market clampdown, a tentative but positive sign for regulators who want to restart productive investment without sparking a refinancing free-for-al... - Protasco aborts private placement and bonus issue of warrants
December 12, 2014 06:09:01 pm
KUALA LUMPUR (Dec 12): Protasco Bhd has today called off its proposed private placement and one-for-10 bonus issue of warrants, which was put forward by the board a year ago. “On behalf of the board of directors of Protasco, AmInvestment Bank Bhd wis... - Philippines posts best gain in 14 months after Moody's upgrade
December 12, 2014 06:02:41 pm
BANGKOK (Dec 12): Philippine shares saw their biggest gain in 14 months on Friday, erasing most of their losses for the week, after a sovereign credit rating upgrade by Moody's while most others in the region rebounded from the previous day's falls. ... - Gold set for biggest weekly rise in 6 months as stocks, dollar slip
December 12, 2014 05:57:59 pm
LONDON/SINGAPORE (Dec 12): Gold prices steadied on Friday, on track for their biggest weekly rise since June, as the dollar retreated and sliding oil prices hurt risk appetite, prompting another drop in stocks. Gold is up 3 percent so far this week. ... - Protasco aborts private placement plan andbonus issue of warrants
December 12, 2014 05:52:50 pm
Flash: Protasco aborts private placement plan andbonus issue of warrants Categories: MarketsCorporate... - Ringgit declines for ninth week as oil slump pushes bonds lower
December 12, 2014 05:10:06 pm
KUALA LUMPUR (Dec 12): Malaysia’s ringgit extended losses to a ninth week and bonds fell on concern a slump in oil prices will hurt government efforts to reduce the fiscal deficit. The currency has declined 6.8 percent since Oct. 10, the worst-perfor...
- SapuraKencana, KNM in active trade as Petronas reviews project cost
December 12, 2014 12:34:09 pm
KUALA LUMPUR (December 12): Oil and gas (O&G) counters SapuraKencana Petroleum Bhd and KNM Group Bhd were actively traded in the morning session, following news that Petroliam Nasional Bhd would review existing projects, as oil prices hit five-ye... - KLCI pares loss but nervous sentiment persists
December 12, 2014 12:16:28 pm
KUALA LUMPUR (Dec 12): The FBM KLCI pared some of its loss at the midday break but remained in negative territory as local sentiment remained nervous on the lack of fresh catalysts. At 12.30pm, the FBM KLCI was down 5.93 points to 1,738.64. Market br... - Eco World aims to raise RM788m from rights issue
December 12, 2014 12:02:40 pm
Eco World aims to raise RM788m from rights issue Categories: MarketsCorporate... - Dollar bulls emerge after upbeat US retail sales, China data next
December 12, 2014 11:58:38 am
SYDNEY/TOKYO (Dec 12): The dollar stayed firm against most of its major peers on Friday thanks in part to upbeat U.S. retail sales data, while nervousness over falling oil prices kept the Canadian dollar pinned near a five-year low. Crude oil slid be... - TH Properties unveils Hundred East@enstek
December 12, 2014 11:53:05 am
NEGERI SEMBILAN: TH Properties Sdn Bhd will launch the first phase of its Hundred East@enstek residential development in its 5,119-acre (2,071ha) Bandar Enstek this weekend. “Prospective housebuyers and long-term investors will find Hundred East@enst... - PAM-DBKL to design temporary shelters for the homeless
December 12, 2014 11:50:44 am
KUALA LUMPUR: Malaysian Institute of Architects (PAM) and Dewan Bandaraya Kuala Lumpur (DBKL) launched the PAM-DBKL Architectural Ideas Competition 2014 in Designing Temporary Shelters for the KL Homeless at the Sime Darby Convention Centre, Bukit Ki... - Double bull run seen by top fund for bonds, stocks
December 12, 2014 11:49:17 am
(Dec 12): The top fund manager investing offshore yuan in Chinese bonds is predicting a double bull run for both debt and equities in 2015, after a world-beating stock rally sucked funds from notes this month.Categories: MarketsCorporate... - UK student market breaks £2b mark 3 years in a row
December 12, 2014 11:48:43 am
LONDON: Investment in UK student accommodation reached £2.37 billion (RM12.93 billion) in 2014, making it the third year it hit the £2 billion mark, according to CB Richard Ellis (CBRE) November UK Student Housing MarketView. Despite higher tuition f... - YTL launches Kasara Niseko Village Townhouses
December 12, 2014 11:48:00 am
KUALA LUMPUR: YTL Corp Bhd launched its Kasara Niseko Village Townhouses in Niseko Village, Japan last Friday. Being YTL Hotels’ latest development, the townhouses also mark the first Kasara property to be offered in the 1,524-acre (617ha) Niseko Vil... - Tong’s Momentum Portfolio - Dec 12, 2014
December 12, 2014 11:38:12 am
REGIONAL bourses closed mostly in the red pressured by global growth concerns and another drop in oil prices. Overnight leads from the US were negative. Wall Street fell sharply dragged down by energy stocks after OPEC lowered projection for oil dema... - Insider Asia’s Stock Of The Day: Focus Lumber Bhd
December 12, 2014 11:37:49 am
Focus Lumber Bhd SABAH-based Focus Lumber is involved in the manufacturing and sale of plywood, veneer and laminated veneer lumber. Despite poor market conditions in the past few years due to sluggish housing markets in Japan, US and Europe, Focus m... - JobStreet’s special dividend goes ex
December 12, 2014 11:36:18 am
JobStreet Corp Bhd (Dec 11, 28.5 sen) Maintain “hold” with a target price (TP) of 30 sen: Jobstreet’s special dividend payment of RM2.65 per share following the asset disposal completion to Seek Ltd went ex yesterday. Ex-special dividend, our TP fall... - MIDF Research
December 12, 2014 11:34:43 am
Plantation sector Maintain “neutral”: November’s crude palm oil (CPO) production staged a decline. CPO production in November declined 7.5% month-on-month (m-o-m) and 5.9% year-on-year (y-o-y) to 1.75 million tonnes. This was attributable to lower fr... - Eco World’s earnings driven by Kota Masai and Saujana Glenmarie projects
December 12, 2014 11:34:32 am
Eco World Development Group Bhd (Dec 11, RM3.93) Maintain “buy” with a target price (TP) of RM6: Eco World reported 13-month results because it changed its financial year ending to October from September. Its full-year earnings came in at RM7.2 milli... - Maybank could be safe haven in challenging times
December 12, 2014 11:31:26 am
Malayan Banking Bhd (Dec 11, RM8.87) Maintain “buy” with target price of RM10.30. Given a slowdown in industry growth, we believe Maybank, with its more balanced and diversified portfolio coupled with its relatively attractive dividend yield in exces... - RHB Capital to soldier on with merger
December 12, 2014 11:29:48 am
RHB Capital Bhd (Dec 11, RM7.59) Maintain “buy” with target price (TP) of RM9.45. RHBCap’s appeal for the Employees Provident Fund (EPF) to be allowed to vote on the CIMB Group Holdings Bhd-RHB Cap-Malaysia Building Society Bhd, merger was dismissed ... - Telkom to lead Indonesia's $24 bln broadband expansion-minister
December 12, 2014 11:22:54 am
JAKARTA (Dec 12): State-owned telecom firm PT Telekomunikasi Indonesia Tbk will take the lead in a $24 billion drive to expand Indonesia's broadband capacity over the next five years, the communication and information minister said. Rudiantara, part ... - Indonesia carrier Garuda says Citilink head Arif Wibowo appointed CEO
December 12, 2014 11:06:30 am
JAKARTA (Dec 12): Indonesian state-owned airline PT Garuda Indonesia Tbk appointed Arif Wibowo, the head of its budget carrier unit Citilink, as its chief executive to replace Emirsyah Satar, its spokesman said on Friday. Satar said on Thursday he ha... - Former Sime Bank CEO's acquittal appeal hearing postponed
December 12, 2014 11:04:15 am
KUALA LUMPUR (Dec 12): The High Court today postponed the hearing of Bank Negara Malaysia's appeal against the acquittal of former Sime Bank CEO Datuk Ismail Zakaria. High Court Judge Datuk Kamardin Hashim postponed hearing for the case to January 14... - Astro dips 1.8% on earnings cut, lower target price
December 12, 2014 10:30:43 am
KUALA LUMPUR (Dec 12): Shares of Astro Malaysia Holdings Bhd dipped on Friday morning after analysts said the outlook for the Pay-TV operator was challenging and cut their prices for the stock. At 11am, Astro was down 1.8% or six sen to RM3.27 with 1... - Ringgit declines for ninth week as oil slump pushes bonds lower
December 12, 2014 10:25:32 am
(Dec 12): Malaysia’s ringgit extended losses to a ninth week and bonds fell on concern a slump in oil prices will hurt government efforts to reduce the fiscal deficit. The currency has declined 6.8 percent since Oct. 10, the worst-performance in Asia... - 5% growth in industrial output above consensus
December 12, 2014 10:18:25 am
KUALA LUMPUR: Malaysia’s industrial production index (IPI) rose 5% in October from a year earlier on growth in all three segments — manufacturing, mining and electricity — of the output gauge. According to data released by the Statistics Department y... - Dnex to diversify into energy and power business
December 12, 2014 10:17:54 am
KUALA LUMPUR: Information and communications technology company Dagang Nexchange Bhd (DNex) is seeking to diversify into the energy and power generation business. In a filing with Bursa Malaysia yesterday, DNex said it has entered into a share sale a... - Astro 3Q net profit falls 8.33% to RM113.4m
December 12, 2014 10:17:44 am
KUALA LUMPUR: Astro Malaysia Holdings Bhd net profit fell 8.33% to RM113.41 million in the third quarter ended Oct 31, 2014 (3QFY15) from RM123.71 million a year ago, due to higher tax expenses, amortisation of software, and higher depreciation of pr... - Petronas should not be forced to shoulder govt’s financial burden — think tank
December 12, 2014 10:15:57 am
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) should not be forced to shoulder the government’s financial burden amid lower crude oil prices, said independent think tank Institute for Democracy and Economic Affairs (Ideas). Ideas chief executive of... - Buyers scramble for MAS shares on last trading day
December 12, 2014 10:15:46 am
KUALA LUMPUR (Dec 12): Investors are scrambling for shares of Malaysian Airline System Bhd (MAS) on the stock's last trading day today. Today offers the last chance for buyers to own the shares, which will entitle them to the 27 sen a share privatisa... - BIMB sees FY15 ROE at 23%
December 12, 2014 10:15:17 am
KUALA LUMPUR: BIMB Holdings Bhd expects to achieve a return on equity (ROE) of 23% in financial year ending Dec 31, 2015 (FY15), according to the Islamic financial services provider’s key performance indicators (KPI). In a statement to Bursa Malaysia... - Gopeng’s 3rd largest shareholder disposes of entire stake in company
December 12, 2014 10:13:34 am
KUALA LUMPUR: Gopeng Bhd’s third largest substantial shareholder, Datuk Mohamad Hamdan Hazizi has sold his entire stake in the palm oil plantation company on Nov 27, 2014, said the company’s filing with Bursa Malaysia yesterday. Gopeng announced that... - BCorp raises stake in REDtone to 20.05%
December 12, 2014 10:12:57 am
KUALA LUMPUR: Berjaya Corp Bhd (BCorp), which is controlled by tycoon Tan Sri Vincent Tan, has upped its stake in REDtone International Bhd to 20.05% from 12.39%, at 70 sen per share, against yesterday’s closing price of 71.5 sen. In a filing with B... - Bumi Armada executes US$1.18b contract after several delays
December 12, 2014 10:12:57 am
KUALA LUMPUR: Bumi Armada Bhd has finally executed the RM1.18 billion contract for the supply of one floating production, storage and offloading (FPSO) unit to Indonesian-based Husky-CNOOC Madura Ltd (HCML) after several delays. “Bumi Armada is pleas...
