The Edge Markets April 21, 2015 09:55:18 am

The Edge Markets April 21, 2015 09:55:18 am

Penang DAP, PAS youth wings reconcile to help PKR in Permatang Pauh
April 21, 2015 11:16:57 pm
(April 21): For the sake of ally PKR in the Permatang Pauh by-election, Penang DAP Socialist Youth (Dapsy) today announced that it was "unfreezing" its ties with the Penang PAS Youth wing. The relationship between the two youth wings were b... ...

Fed rate rise won't matter as much as these U.S. housing drivers
April 21, 2015 11:13:20 pm
(April 21): The Federal Reserve is preparing to raise its benchmark interest rate for the first time since 2006. Yet the gradually healing housing industry — one of the biggest beneficiaries of rock-bottom borrowing costs in this economic recovery......

EU Google probe encourages investors in Russia competitor Yandex
April 21, 2015 10:58:32 pm
NEW YORK (April 21): The European Union's antitrust probe into Google sparked a big rally in Russian search engine Yandex NV last week, even though the "Russian Google" still faces significant challenges, competitive and otherwise. Yandex h... ...

U.S. regulator wants better deposit data from big banks
April 21, 2015 10:55:26 pm
WASHINGTON (April 21): The largest U.S. and foreign banks would need to keep track of deposits better under a plan launched by the Federal Deposit Insurance Corporation on Tuesday, as many lenders have grown and become more complex. Under t... ...

Yemen healthcare services on brink of collapse, WHO says - TRFN
April 21, 2015 10:54:04 pm
LONDON (April 21) (Thomson Reuters Foundation): Health services in Yemen are on the brink of collapse amid critical shortages of life-saving medicines, oxygen and fuel, the World Health Organization (WHO) said on Tuesday. Prices of essentia... ...

Basel watchdog curbs bank capital discretion for supervisors
April 21, 2015 10:47:39 pm
LONDON (April 21): Global regulators have jettisoned a string of national "waivers" from bank capital rules to help restore credibility in benchmark ratios published by lenders. Regulators have found wide variations in the amount of capital... ...

Surging medical, nursing care costs strain Japan's public finances
April 21, 2015 10:44:11 pm
TOKYO (April 21): A panel of Japanese lawmakers has calculated the country's medical and nursing care costs will rise 4 trillion yen ($33.50 billion) over the next five years, people involved in the process said on Tuesday, highlighting the strain......

Capital concerns take shine off Credit Suisse's profit rise
April 21, 2015 10:40:13 pm
ZURICH (April 21): Speculation that incoming Credit Suisse Chief Executive Tidjane Thiam could have to raise cash to boost the bank's balance sheet, overshadowed a forecast-beating increase in first-quarter net profit on Tuesday. Tough new ... ...

Gold steadies below $1,200/oz as dollar, stocks rise
April 21, 2015 10:36:26 pm
LONDON/SINGAPORE (April 21): Gold steadied below $1,200 an ounce on Tuesday after its biggest one-day loss in a week, under pressure from a rising dollar and a rally in global equities, which diverted some interest from the metal. European ... ...

Managepay, Yee Lee, Matrix Concept, IJM Corp, Eco World, Kawan Food, George Kent, Hong Leong Industries, MAHB, Boilermech, EG Industries, Vsolar, Microlink and Cypark
April 21, 2015 10:05:34 pm
KUALA LUMPUR (April 21): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Wednesday, April 21) could be: ManagePay Systems Bhd, Yee Lee Corp Bhd, Matrix Concepts Holdings Bhd, IJM Corp Bhd, Eco ... ...

Prosecutors blame captain for causing deaths in migrant shipwreck
April 21, 2015 09:36:26 pm
CATANIA, Italy (April 21): Prosecutors blamed the Tunisian captain of a fishing boat for causing the deaths of hundreds of migrants locked below decks when his vessel capsized in the Mediterranean, in the weekend shipwreck that has shocked Europe.......

Wall St set to rise as results beat low expectations
April 21, 2015 09:30:54 pm
(April 21): U.S. stock were set to rise at the open on Tuesday as a spate of companies beat lowered expectations, helping to ease fears of a disappointing earnings quarter. Nearly 75 percent of the S&P 500 components that have reported ... ...

Treasuries: U.S. bond prices rise on worries about Greek banks
April 21, 2015 09:26:46 pm
NEW YORK (April 21): U.S. Treasuries prices rose on Tuesday, snapping back from the prior day's losses, as worries about Greek banks' access to emergency cash rekindled safehaven demand for low-risk government bonds. Staff at the European C... (funct...

Niche Capital Emas sees 5.19% stake cross off-market
April 21, 2015 08:54:39 pm
KUALA LUMPUR (April 21): Niche Capital Emas Holdings Bhd, which is in the business of manufacturing, distribution and retail of gold jewelry and ornament, saw some 12.1 million shares or 5.19% equity stake crossed off-market today . Accordi... ...

'There'll be a global Great Depression if investors too complacent'
April 21, 2015 08:49:25 pm
KUALA LUMPUR (April 21): The world's stock market could see a repeat of the crash in the 1930s, if investors become too complacent and over-rely on central banks to step in with their stimulus programmes whenever the stock market gets jittery.... ...

Microlink fixes placement price at 50 sen a share
April 21, 2015 08:40:41 pm
KUALA LUMPUR (April 21): Microlink Solutions Bhd, which provides integrated banking solutions, has fixed the issue price of its private placement at 50 sen per share.   The issue price is for Microlink’s placement of up to 13.81 millio... ...

China sees first bond default by state firm with Tianwei
April 21, 2015 08:33:16 pm
SHANGHAI (April 21): A Chinese power-transformer maker became the country’s first state-owned company to default on an onshore bond, signaling the government’s willingness to let market forces decide an enterprise’s fate. Baoding Tianwei Gr... ...

Malaysia seeks concert segregation by gender in Islamic push
April 21, 2015 08:30:16 pm
KUALA LUMPUR (April 21): Attending a concert in Malaysia? Be prepared to sit separately from your friends of the opposite sex and refrain from excessive laughter. The latest entertainment guidelines by the Department of Islamic Development ... ...

Cabinet orders police probe on church protesters, says Najib
April 21, 2015 08:24:51 pm
(April 21): The Cabinet today agreed that police must investigate the protest by a group of residents against a church in Taman Medan, and warned that action could be taken under the law. Prime Minister Datuk Seri Najib Razak said that the ... ...

Boilermech to commercialise CSIRO's oil extraction technology
April 21, 2015 08:12:57 pm
KUALA LUMPUR (April 21): Boilermech Holdings Bhd has inked a deal with the Commonwealth Scientific and Industrial Research Organisation, Australia (CSIRO), to commercialise the latter's patented oil extraction technology.   In a filing... ...

Hong Leong Industries' 3Q net profit up marginally, pays 17 sen dividend
April 21, 2015 08:06:09 pm
KUALA LUMPUR (April 21): Hong Leong Industries Bhd’s net profit rose by a marginal 0.4% to RM46.03 million for the third financial quarter ended March 31, 2015 (3QFY15), from RM45.84 million a year ago, mainly due to favourable sales mix and lower......

IJM Corp to buy Penang land for RM402.8m
April 21, 2015 07:58:57 pm
KUALA LUMPUR (April 21): IJM Corp Bhd has bought the remaining shares in its joint venture (JV), Aura Hebat Sdn Bhd (AHSB), from partner Perennial Penang Pte Ltd, for an undisclosed amount. AHSB is in the midst of acquiring a 32.76-acre par... ...

Most up on Chinese stimulus; Indonesia recovers
April 21, 2015 07:45:44 pm
COLOMBO/BANGKOK/JAKARTA (April 21): Most Southeast Asian stock markets gained on Tuesday as China's stimulus to prop up its faltering economy boosted risky assets, with Indonesian shares recovering smartly from the previous session's three-week cl......

Futures up as weak earnings worries fade
April 21, 2015 07:38:39 pm
(April 21): U.S. stock index futures rose on Tuesday, after earnings results by companies including IBM helped ease fears of a disappointing earnings quarter. IBM shares were up 0.7 percent at $167.25 in premarket trading after its earnings... ...

Yemen conflict keeps Brent crude oil around $63
April 21, 2015 07:37:11 pm
LONDON/SINGAPORE (April 21): Brent crude oil steadied around $63 a barrel on Tuesday, not far below the 2015 high, supported by worries that a civil war in Yemen could destabilise the Middle East, affecting oil supplies. Oil has climbed aro... ...

Timothy Tan re-designated as Kawan Food MD
April 21, 2015 07:21:37 pm
KUALA LUMPUR (April 21): Kawan Food Bhd non-independent executive director Timothy Tan Heng Han, 34, has been re-designated as managing director (MD) of the frozen food manufacturer. In a filing with Bursa Malaysia today, it was revealed th... ...

AIA increases stake in Prestariang to 8.78%
April 21, 2015 07:20:13 pm
KUALA LUMPUR (April 21): AIA Co Ltd has acquired an additional 1.41 million shares in Prestariang Bhd, bringing its total interest in the company to 8.78%. Based on a filing with Bursa Malaysia today, Prestariang (fundamental: 1.95; valuati... ...

Healthy eating sparks M&A on blurring frontier between food and drugs
April 21, 2015 06:56:34 pm
LONDON (Apr 21): A boom in "nutraceuticals" - food and drinks with potential health benefits - is paving the way for a rush of deals, as food and drug companies compete to dominate a market expected to be worth $280 billion by 2018. Consume... ...

Moving HQ to Singapore makes sense for StanChart - Aberdeen's Young
April 21, 2015 06:48:27 pm
SINGAPORE (Apr 21): Standard Chartered has a strong business case to move its headquarters from London to Singapore and save millions in taxes as, unlike HSBC , it doesn't have a banking network in the UK, Aberdeen Asset Management said. "I... ...

Moving HQ to Singapore makes sense for StanChart - Aberdeen's Young
April 21, 2015 06:48:27 pm
SINGAPORE (Apr 21): Standard Chartered has a strong business case to move its headquarters from London to Singapore and save millions in taxes as, unlike HSBC , it doesn't have a banking network in the UK, Aberdeen Asset Management said. "I... ...

EG Industries to buy Singapore-based marketing firm for RM10.2m
April 21, 2015 06:44:54 pm
KUALA LUMPUR (April 21): Electronic manufacturing services (EMS) provider EG Industries Bhd has proposed to buy Singapore-based sales and marketing firm Singyasin Holdings Pte Ltd for SG$3.8 million (RM10.2 million), cash. In a press releas... ...

Palm up for 3rd day, hits near 2-week high as ringgit retreats
April 21, 2015 06:40:50 pm
KUALA LUMPUR (Apr 21): Malaysian palm oil futures extended their gains into a third session and rose to the highest in nearly two weeks on Tuesday as the ringgit retreated, while a promising technical outlook also stoked buying interest. Th... ...

CIMB Thai 1Q net profit drops 70.4% to 130.6 million baht
April 21, 2015 06:35:35 pm
KUALA LUMPUR (April 21): CIMB Thai Bank PCL posted a 70.4% drop in net profit to 130.6 million baht, for its first quarter ended March 31, 2015 (1QFY15), mainly due to a 117.6% year-on-year (y-o-y) increase in provisions. "The higher provis... ...

Euro weak on Greek funding concerns, trades near 3-month low vs Swiss franc
April 21, 2015 06:35:16 pm
LONDON (Apr 21): The euro fell across the board on Tuesday, as details emerged on a European Central Bank proposal to increase the insurance it would demand in return for emergency funding to Greek banks. Bloomberg, citing people with knowl... ...

George Kent expects better performance in FY16
April 21, 2015 06:29:24 pm
KUALA LUMPUR (Apr 21): Infrastructure engineering firm George Kent (Malaysia) Bhd expects to perform better in its current financial year ending January 31, 2016 (FY16), driven by the RM1.1 billion Ampang LRT extension works contract under its eng......

ManagePay becomes third party service provider for UnionPay
April 21, 2015 06:26:30 pm
KUALA LUMPUR (April 21): ManagePay Systems Bhd’s wholly-owned subsidiary, ManagePay Resources Sdn Bhd (MRSB), has received a letter of notification from UnionPay International Co Ltd, on the registration of MRSB as a UnionPay third party service p......

MAHB forms committee to integrate operations at Istanbul airport
April 21, 2015 06:20:50 pm
KUALA LUMPUR (Apr 21): Malaysia Airports Holdings Bhd (MAHB) has established an Integration Steering Committee (ISC) to ensure an “appropriate” integration of its Turkish units Istanbul Sabiha Gokcen Uluslararasi Havalimani Yatirim Yapim Ve Isletm......

Yee Lee now an exclusive Red Bull distributor
April 21, 2015 06:13:53 pm
KUALA LUMPUR (Apr 21): Fast moving consumer products distributor Yee Lee Corp Bhd is once again the distributor for the ‘Red Bull’ energy drinks in Malaysia – and this time on an exclusive basis. It will be the sole distributor of the drinks here ......

Vsolar signs collaboration agreement with Japan’s Eastasia Group
April 21, 2015 06:07:11 pm
KUALA LUMPUR (Apr 21): ACE-listed renewable energy player Vsolar Group Bhd announced that it has signed a collaboration agreement with Japan’s Eastasia Group Co Ltd to provide engineering, procurement and construction solutions to develop a commer......

Gold languishes below $1,200/oz as stocks, dollar rise
April 21, 2015 06:04:08 pm
LONDON (Apr 21): Gold steadied below $1,200 an ounce on Tuesday after its biggest one-day drop in a week, remaining under pressure as the dollar rose and a rally in global equities diverted interest from the precious metal. European stocks ... ...

ManagePay appointed as third party service provider by China's UnionPay
April 21, 2015 05:59:16 pm
ManagePay appointed as third party service provider by China's UnionPay ...

Nufam president to take MAS to court over dismissal
April 21, 2015 05:48:14 pm
(April 21): National Union of Flight Attendants Malaysia (Nufam) president Ismail Nasaruddin is challenging his sacking by Malaysian Airlines (MAS) in November 2013 at the Industrial Court, where a hearing is scheduled on April 28. He said ... ...

Matrix Concepts buys land in Puchong for RM95m, aims GDV of over RM500m
April 21, 2015 05:46:54 pm
KUALA LUMPUR (Apr 21): Negri Sembilan-based property developer Matrix Concepts Holdings Bhd has proposed to acquire a 5.8-acre (2.3ha) land cum approved residential development project in Puchong, Selangor, for RM95 million. The purchase fr... ...

Yahoo, Microsoft add termination clause in search deal - filing
April 21, 2015 05:46:03 pm
(Apr 21): Yahoo Inc and Microsoft Corp added a termination clause to the terms of their search partnership agreement under which either company can end the deal on or after Oct. 1, 2015, according to a regulatory filing by Yahoo on Monday T... ...

Yee Lee now exclusive distributor of Red Bull drinks in Malaysia
April 21, 2015 05:44:32 pm
Flash: Yee Lee appointed as exclusive distributor of Red Bull drinks in Malaysia. ...

Ringgit halts three-day rally as Greece concern boosts dollar
April 21, 2015 05:35:37 pm
(Apr 21): Malaysia’s ringgit fell, halting a three-day gain, as lingering concern that Greece will be unable to meet its debt obligations without a further cash injection from donors damped risk appetite. A dollar gauge climbed for a second... ...

KLCI advances 14.14pts on institutional buying
April 21, 2015 05:34:25 pm
KUALA LUMPUR (Apr 21): The FBM KLCI advanced 0.8% to close at its intraday high on institutional buying as regional markets rose. Global shares climbed on China's move to cut bank reserve requirements by 100 basis points to support its econ... ...

StanChart has no intention to sell $660 mln stake in Indonesian bank
April 21, 2015 05:30:42 pm
JAKARTA (Apr 21): Standard Chartered PLC has no intention to sell its 45 percent stake in Indonesia's Bank Permata Tbk, the British lender's Southeast Asia head said on Tuesday. Standard Chartered's abrupt move to shut its global equities b... ...

PKR think tank finds Sedition Act revisions ‘tailor-made’ to target opposition
April 21, 2015 05:27:10 pm
(Apr 21): Putrajaya's amendments to the Sedition Act is tailored to bring down opposition leaders and dissenting voices of civil society, Institut Rakyat today said, adding that such measures were to help the federal government to consolidate its ......

Petronas' PFLNG1 to start working in 1Q16
April 21, 2015 05:17:43 pm
KUALA LUMPUR (Apr 21): Petronas Nasional Bhd (Petronas) expects its maiden floating liquefied natural gas facility (PFLNG1) to start commission in offshore Sarawak in the first quarter of next year (1Q16). The PFLNG1 was earlier slat... ...

Petronas Carigali strives to improve efficiency to mitigate oil plunge impact
April 21, 2015 05:10:17 pm
KUALA LUMPUR (Apr 21): Petroliam Nasional Berhad (Petronas)'s upstream arm Petronas Carigali Sdn Bhd has implemented strategic approaches to improve its cost efficiency to mitigate the adverse impact of the plunge in oil prices. Amon... ...

Genting Singapore’s Lim defends prudent approach in bad debt provisions
April 21, 2015 05:07:12 pm
SINGAPORE (Apr 21): Genting Singapore’s bottom line has been hit by a spike in bad debt provisions, as more customers who lost the bet refuse to pay up. From the perspective of Lim Kok Thay, the high level of provisions is just an in... ...

KLCI up 14.14pts to close at intraday high
April 21, 2015 05:05:48 pm
KLCI up 14.14pts to close at intraday high     ...

Indonesia will not re-introduce gasoline subsidies - energy min
April 21, 2015 05:02:38 pm
JAKARTA (Apr 21): Indonesia will not re-introduce government subsidies for gasoline even if prices bounce back to previous highs, the energy minister said on Tuesday. President Joko Widodo scrapped gasoline subsidies at the start of the yea... ...

Yemen conflict keeps Brent crude oil around $63
April 21, 2015 04:45:11 pm
LONDON (Apr 21): Brent crude oil steadied around $63 a barrel on Tuesday, not far below the 2015 high, supported by worries that a civil war in Yemen could destabilise the Middle East, affecting oil supplies. Oil has climbed around 15 perce... ...

Upbeat earnings lift stocks, Greek anxiety hits euro
April 21, 2015 04:43:41 pm
LONDON (Apr 21): World stocks climbed back towards all-time highs on Tuesday as upbeat European earnings reports and expectations of a sixth straight rise in German business confidence helped offset worries about a possible Greek default. E... ...

Indonesian magazine highlights Najib, Rosmah’s ‘luxurious lifestyle’
April 21, 2015 04:41:12 pm
(April 21): An Indonesian magazine has published an article highlighting the"luxurious lifestyle" led by Prime Minister Datuk Seri Najib Razak and his wife, Datin Seri Rosmah Mansor, just two days ahead of his working visit to the republic.... ...

Capital concerns take shine off Credit Suisse's profit rise
April 21, 2015 04:35:00 pm
ZURICH (Apr 21): Speculation that incoming Credit Suisse Chief Executive Tidjane Thiam could raise cash to boost the bank's balance sheet overshadowed a forecast-beating increase in first-quarter net profit on Tuesday. Tough new rule... ...

Mystery of China’s gold stash may soon be solved as IMF beckons
April 21, 2015 04:32:06 pm
(Apr 21): China’s push to challenge U.S. dominance in global trade and finance may involve gold -- a lot of gold. While the metal is no longer used to back paper money, it remains a big chunk of central bank reserves in the U.S. and Europe.... ...

Putrajaya’s SRC loses another RM89 million, says PKR
April 21, 2015 04:20:40 pm
(Apr 21): Putrajaya's SRC International Sdn Bhd has lost a further RM89 million from its joint-venture with a Middle Eastern company Aabar Investments bringing its total losses in investment value to RM204 million to date, PKR said today....

Hong Kong stocks post biggest gain in two weeks as China buyers pour in
April 21, 2015 04:17:22 pm
(Apr 21): Hong Kong stocks posted their biggest daily gain in two weeks on Tuesday on signs that investors in mainland China are keen to plow more money into the city's markets, hunting for bargains. The Hang Seng index jumped 2.8 percent t... ...

L'Oreal says demand slowed in Europe for mass beauty
April 21, 2015 04:10:16 pm
PARIS (Apr 20): L'Oreal said on Monday the market for mass beauty products in western Europe had slowed in the early part of the year but was still growing moderately in North America as it posted a 14.1 percent rise in first-quarter sales. ...

BMW China plans to put WeChat in cars without relying on Tencent
April 21, 2015 03:57:43 pm
SHANGHAI (Apr 21): BMW AG is working to integrate Tencent Holdings' popular WeChat messaging app into its cars in China and is planning to do it in a way that would not require the Internet giant to make changes to its software, its China R&D ... ...

Qualcomm to tap Samsung Elec to make new mobile processors - report
April 21, 2015 03:55:56 pm
SEOUL (Apr 21): U.S. chip maker Qualcomm Inc plans to have its next-generation Snapdragon 820 mobile processors manufactured by Samsung Electronics Co Ltd , tech news website Re/code reported, citing unnamed sources. The move comes after Sa... ...

Fed plays down liftoff timing as it emphasizes gradual rate pace
April 21, 2015 03:53:53 pm
(Apr 21): Janet Yellen wants you to know that while the era of zero rates may be drawing to a close, money will stay cheap for a long time to come. The Federal Reserve chair and her colleagues have stressed in recent speeches that monetary ... ...

TOCOM posts biggest daily gain in nearly 4 months
April 21, 2015 03:50:43 pm
TOKYO (Apr 21): Benchmark Tokyo rubber futures ended up 3.5 percent on Tuesday, marking their biggest daily percentage gain since Dec. 30, 2014 after hitting a two-week high earlier in the session, bolstered by a weaker yen against the dollar.... ...

Euro weak as Greek worries intensify, trades near 3-month low vs Swiss franc
April 21, 2015 03:47:37 pm
LONDON (Apr 21): The euro was weaker across the board on Tuesday, pressured by deepening worries that Greece could default on its debt and eventually exit the currency union. With Greece at the forefront, and very little in the way of an im... ...

Oil prices dip as U.S. stockpiles seen rising
April 21, 2015 03:45:00 pm
SINGAPORE (Apr 21): Oil prices fell on Tuesday on expectations of another rise in U.S. stockpiles and as Saudi Arabia keeps output near record highs, but prices remained near a 2015 peak reached last week. Crude prices have climbed around 1... ...

Gold holds below $1,200 due to firmer dollar, equities
April 21, 2015 03:44:14 pm
SINGAPORE (Apr 21): Gold remained below the key $1,200 level on Tuesday, adding to overnight losses, as a rally in global equities and a firmer dollar dented the metal's appeal as a safe haven. Spot gold was down 0.2 percent to $1,194 an ou... ...

Why privatise Malaysia's GST refund scheme for tourists, asks PKR
April 21, 2015 03:22:49 pm
(April 21): A tourist refund scheme (TRS) to claim back the goods and services tax (GST) is only profiting a private company at the expense of government revenue, PKR secretary-general Rafizi Ramli said today. The scheme, whereby pri... ...

Unisem jumps after director says planning to deal in securities
April 21, 2015 03:10:41 pm
 KUALA LUMPUR (April 21): Unisem (M) Bhd warrants and shares jumped as much as 21% and 5% respectively, after a director indicated his intention to deal in the semiconductor manufacturer's securities during the closed period. Investo... ...

Oriental rises 5.6% on talks for Proton dealership biz
April 21, 2015 03:07:57 pm
KUALA LUMPUR (April 21): Oriental Holdings Bhd rose as much as 5.6% on news the firm is in talks with Proton Holdings Bhd to set up a Proton dealership business. The discussions have been ongoing for a considerable period, which “the... ...

Cypark: Current waste-to-energy projects to drive earnings this year
April 21, 2015 02:54:03 pm
KUALA LUMPUR (April 21): Environmental and infrastructure solutions provider Cypark Resources Bhd expects its current waste-to-energy projects to drive and sustain its earnings this year, said its group chief executive officer Datuk Daud. "... ...

Singapore March consumer prices seen falling for fifth month
April 21, 2015 02:47:16 pm
SINGAPORE (Apr 21): Singapore's consumer price index in March probably fell from a year earlier for the fifth straight month, a Reuters poll showed on Tuesday, likely dragged down by lower transportation and housing costs. Singapore's all-i... ...

Most up on Chinese stimulus; Jakarta rises from over 3-mo low
April 21, 2015 02:44:17 pm
(Apr 21): Most Southeast Asian stock markets gained on Tuesday as China's stimulus to prop up its faltering economy boosted risky assets with Indonesian stocks recovering from a more-than-three-week closing low hit in the previous session....

Malaysia seeks concert segregation by gender in Islamic push
April 21, 2015 02:40:53 pm
(Apr 21): Attending a concert in Malaysia? Be prepared to sit separately from your friends of the opposite sex and refrain from excessive laughter. The latest entertainment guidelines by the Department of Islamic Development for concert org... ...

World Bank inks initiative to prevent wasteful burning of gas
April 21, 2015 02:23:50 pm
KUALA LUMPUR (Apr 21): The World Bank with its “Zero Routine Flaring by 2030” initiative has sought to prevent the wasteful burning of gas as well as release of carbon monoxide (CO) into the atmosphere. In a statement on its website ... ...

Unisem warrants most active after director indicates intention to deal in securities
April 21, 2015 02:18:49 pm
Unisem warrants most active after director indicates intention to deal in securities   ...

China's Finance Minister hits at U.S. 'negative list' - Xinhua
April 21, 2015 02:17:00 pm
BEIJING (Apr 21): China's Finance Minister Lou Jiwei criticised the U.S. proposal for sectors to be closed to foreign investment under a Bilateral Investment Treaty (BIT) that is currently being negotiated between Washington and Beijing, state med......

Aaron Loo is StanChart Malaysia's head of retail clients
April 21, 2015 02:10:31 pm
KUALA LUMPUR (Apr 21): Standard Chartered Bank Malaysia Bhd (StanChart Malaysia) has appointed Aaron Loo as head of retail clients. Loo will report to StanChart Malaysia managing director and chief executive officer Mahendra Gursahani and S... ...

Australia's east coast battered by cyclone-like storm
April 21, 2015 02:10:24 pm
SYDNEY (Apr 21): A cyclonic storm battered Australia's east coast on Tuesday killing three people, washing away houses, cutting power to more than 200,000 homes and stranding a cruise ship off the coast in mountainous seas. Cyclone-strength... ...

Palm up for 3rd day, hits near 2-week high as ringgit retreats
April 21, 2015 02:03:09 pm
KUALA LUMPUR (Apr 21): Malaysian palm oil futures extended their gains into a third session and rose to the highest in nearly two weeks on Tuesday as the ringgit retreated, while a promising technical outlook also stoked buying interest....

Eco World accepts job to develop Penang's Eco Marina project
April 21, 2015 02:00:57 pm
KUALA LUMPUR (Apr 21): Eco World Development Group Bhd today accepted a letter of award from the Penang Development Corp (PDC) to develop 449.64 acres of leasehold land at Bandar Cassia, Batu Kawan, Seberang Perai Selatan, Penang, into an E... ...

Iowa reports biggest U.S. outbreak of bird flu in poultry
April 21, 2015 01:51:11 pm
CHICAGO (Apr 20): Iowa, the top U.S. egg-producing state, found a lethal strain of bird flu in millions of hens at an egg-laying facility on Monday, the worst case so far in a national outbreak that prompted Wisconsin to declare a state of emergen......

Stocks firm after China stimulus, euro hit by Greek anxiety
April 21, 2015 01:41:34 pm
TOKYO (Apr 21): Asian stocks were firm on Tuesday after China's latest step to prop up its faltering economy lifted global equities, while the euro was pressured on growing worries a cash-strapped Greece may default on its debt. MSCI's broa... ...

MISC rises 22 sen on asset disposal speculation
April 21, 2015 01:40:02 pm
KUALA LUMPUR (Apr 21): MISC Bhd rose as much as 22 sen or 2.45% to RM9.21 on reports speculating the shipping firm may sell its loss-making tanker unit to Canada-based Teekay Tankers Ltd. The Edge Financial Daily (Edge FD) reported t... ...

Activists urge Asean to take input on peace, security seriously
April 21, 2015 01:37:04 pm
(Apr 21): Asean governments have been urged to heed the voices of civil society in addressing issues of peace and human security that have come under threat in the region. The Asean People's Forum (APF) 2015 is hoping that that the governme... ...

Solid dollar on Greece worries hurt Asia FX
April 21, 2015 01:23:03 pm
SINGAPORE (Apr 21): Most emerging Asian currencies fell on Tuesday as the dollar broadly advanced on growing concerns over risks of a default by debt-ridden Greece. Offshore funds sold the Malaysian ringgit, while the South Korean won and I... ...

Dollar firmer as Greek debt woes pressure euro; Aussie slips
April 21, 2015 01:22:50 pm
SINGAPORE/TOKYO (Apr 21): The dollar edged higher against its peers on Tuesday, drawing support as the euro was pressured by increasing worries that Greece could default on its debt and eventually exit the single currency. The euro eased 0.... ...

Malaysia earmarks RM15b to introduce green growth concept
April 21, 2015 01:13:23 pm
KUALA LUMPUR (Apr 21): The federal government plans to pump in at least RM15 billion under the Eleventh Malaysia Plan (11MP) to create a green growth concept within Malaysia's economic framework. Prime Minister's Department's Economi... ...

Scan Associates, Salcon, PUC Founder, Integrated Rubber Corp, Sunsuria, Astino, Century Bond, Comintel Corp, Hovid, KESM Industries, Suiwah Corp
April 21, 2015 01:11:53 pm
KUALA LUMPUR (Apr 21): theedgemarkets.com has highlighted 11 stocks with momentum at  afternoon market close today. Three of the stocks show positive momentum while seven show negative momen... ...

Greece moves to seize public-sector funds as IMF payment due
April 21, 2015 01:03:50 pm
(Apr 21): The Greek government issued a decree that forces local governments to transfer cash balances to the central bank, as debt to the International Monetary Fund and month-end salary payments come due. “Central government entiti... ...

KLCI rises 0.4%, select blue chips lift
April 21, 2015 12:57:57 pm
KUALA LUMPUR (Apr 21): The FBM KLCI rose 0.4% at the midday break today, lifted by gains at select blue chips in line with the uptrend at regional markets. At 12.30pm, the FBM KLCI rose 7.45 points to 1,856.11. Gainers led los... ...

China stocks rise as interest shifts to small-caps; HK stocks also up
April 21, 2015 12:47:17 pm
SHANGHAI (Apr 21): Stocks in China rebounded on Tuesday, with investor interest shifting back to small caps as a slump in top trainmakers China CNR and CSR Corp soured sentiment toward infrastructure stocks. Hong Kong shares also rose, enco... ...

RHB restructuring 'proactive' ahead of Bank Negara policy change – RAM
April 21, 2015 12:41:36 pm
KUALA LUMPUR (Apr 21): RAM Rating Services Bhd views RHB Capital Bhd’s proposed restructuring as “proactive” as the latter prepares for impending changes in Bank Negara Malaysia’s regulations. In a note today, RAM co-Head of financia... ...

China's Finance Minister hits at U.S. 'negative list' - Xinhua
April 21, 2015 12:33:45 pm
BEIJING (Apr 21): China's Finance Minister Lou Jiwei criticised the U.S. proposal for sectors to be closed to foreign investment under a Bilateral Investment Treaty (BIT) that is currently being negotiated between Washington and Beijing, state med......

China overhauling IPO process, mulls foreign firms listing - report
April 21, 2015 12:24:02 pm
SHANGHAI (Apr 21): China will switch to a "registration system" for initial public offerings (IPO), ending the current approval process, the official China Securities Journal reported on Tuesday, a day after parliament began reviewing draft change......

Shoppers tussle with Taipan businesses over parking lots
April 21, 2015 12:23:12 pm
(Apr 21): Parking woes remain seemingly unabated in USJ 10, which is also known as the Taipan business centre, with double-parking still rampant along its streets. Home to various consumer goods and services, such as food outlets, banks and... ...

Oil prices dip as U.S. stockpiles seen rising
April 21, 2015 12:22:37 pm
SINGAPORE (Apr 21): Oil prices dipped slightly on Tuesday but remained near a 2015 peak reached last week as expectations of another rise in U.S. stockpiles and near-record-high Saudi Arabian output were balanced by rising tension in the Middle Ea......

Indonesia's Dian Swastatika completed reverse takeover of UFS
April 21, 2015 12:18:01 pm
JAKARTA (Apr 21): Indonesian energy firm PT Dian Swastatika Sentosa Tbk has completed a reverse takeover of Singapore's United Fiber System Ltd (UFS), the company said in a filing to Indonesia Stock Exchange on Tuesday. Dian Swastatika says... ...

MISC among top gainers on reports Canadian firm eyeing tanker unit
April 21, 2015 12:07:18 pm
MISC among top gainers on reports Canadian firm eyeing tanker unit ...

Palm oil to approach 2,210 ringgit
April 21, 2015 11:58:45 am
SINGAPORE (Apr 21): Palm oil is expected to approach a resistance at 2,210 ringgit per tonne, as indicated by its wave pattern and a Fibonacci retracement analysis. The resistance is at the 38.2 percent Fibonacci retracement on the fall fro... ...

Federal govt injects RM15b to introduce green economy concept
April 21, 2015 11:24:17 am
The federal government is setting aside about RM15 billion in the eleventh Malaysia Plan as part of a "game changer" move to introduce green concepts and practices into the economy. ...

Stocks firm after China stimulus, euro hit by Greek anxiety
April 21, 2015 11:15:28 am
TOKYO (Apr 21): Asian stocks were firm on Tuesday after China's latest step to prop up its faltering economy lifted global equities, while the euro was pressured on growing worries a cash-strapped Greece may default on its debt. MSCI's broa... ...

China criticizes U.S., Philippine war games in South China Sea
April 21, 2015 11:01:08 am
(Apr 21): War games in the South China Sea between the Philippines and its allies are inappropriate and run counter to efforts to ease tensions in the waters, China’s state-run Global Times said in an editorial. The comments come as more th... ...

Hong Kong stock surge spurs block trade boom; China bank deals seen
April 21, 2015 10:58:54 am
HONG KONG (Apr 21): A sharp rally in Hong Kong stocks has spawned 11 block trades worth $3.4 billion in April alone and bankers say a raft of similar deals is waiting in the wings, including Spanish lender BBVA's stake in China's CITIC Bank Corp....

Malaysia seeks concert segregation, dance curbs in Islamic push
April 21, 2015 10:58:19 am
(Apr 21): Attending a concert in Malaysia? Be prepared to sit separately from your friends of the opposite sex and refrain from excessive laughter. The latest entertainment guidelines by the Department of Islamic Development for concert org... ...

Stocks With Momentum: RGB
April 21, 2015 10:53:43 am
RGB International Bhd (-ve) RGB (Fundamental: 1.7/3, Valuation: 1.2/3) is mainly involved in sales, marketing and manufacturing and technical support services of electronic gaming machines. Shares for RGB rose 15.2% ... ...

Oil prices ease as U.S. stockpiles seen rising
April 21, 2015 10:53:00 am
SINGAPORE (Apr 21): Oil prices eased on Tuesday on expectations of another rise in U.S. stockpiles and as Saudi Arabia keeps output near record highs, but prices remained near a 2015-peak reached last week. Crude prices have climbed around ... ...

JobStreet survey reveals gloomy hiring trend in 2Q2015
April 21, 2015 10:49:34 am
KUALA LUMPUR (Apr 21): A 2Q 2015 job outlook survey by JobStreet.com has revealed that employers expect a downtrend in job growth. In a statement today, JobStreet said the survey was conducted on 930 human resource personnel, managers and s... ...

Stocks With Momentum: Asia Poly
April 21, 2015 10:48:00 am
Asia Poly Holding Bhd (-ve) Shares for Asia Poly (Fundamental: 0.55/3, Valuation: 0.8/3) rallied since the start of April to a three-year high of 43.5 sen last week. This came after the Lim family ceased to be substantial s... ...

Insider Asia’s Stock Of The Day: Panasonic
April 21, 2015 10:47:28 am
Panasonic Manufaturing Msia Bhd THOUGH hardly regarded as an exciting stock, Panamy (Fundamental: 2.8/3, Valuation: 1.7/3) has, nevertheless, performed very well. Since our first feature, on Dec 5, 2014, its ... ...

Stocks With Momentum: Solution
April 21, 2015 10:46:56 am
Solution Engineering Holding Bhd (+ve) SOLUTION (Fundamental: 2.5/3, Valuation: 1.5/3) gained 3 sen or 10.0% to 33 sen with cumulative 78.2 million shares changing hands over the past three days. With this, the stock has re... ...

Public Bank rise on higher profit, revenue
April 21, 2015 10:34:02 am
KUALA LUMPUR (Apr 21): Public Bank Bhd advanced as much as 20 sen or 1% after group reported higher first quarter profit and revenue from a year earlier. Public Bank (fundamental: 2.8; valuation: 1.5) rose to its highest so far today... ...

KLCI gains 0.3% on regional uptrend
April 21, 2015 10:28:14 am
KUALA LUMPUR (April 21): The FBM KLCI rose 0.3% at mid-morning today, in line with the regional uptrend. At 10am, the FBM KLCI added 6.56 points to 1,855.22. The top gainers included British American Tobacco (M) Bhd, Pharmania... ...

BAT’s share price expected to remain rangebound
April 21, 2015 10:21:36 am
British American Tobacco (Malaysia) Bhd (April 20, RM67.38) Maintain hold with a lower target price of RM69.50: We maintain our “hold” rating on British American Tobacco (Malaysia) (BAT) with a lower discounted cash fl... ...

SapuraKencana sees steady profit rise from Brazilian ops
April 21, 2015 10:19:47 am
SapuraKencana Petroleum Bhd (April 20, RM2.69) Maintain add with a target price of RM3.14: SapuraKencana Petroleum’s pipe-laying support vessel (PLSV) Onix is ready to be dispatched to work for Petróleo Brasileiro SA (... ...

Bursa Malaysia’s market likely to be resilient
April 21, 2015 10:18:39 am
Bursa Malaysia Bhd (April 20, RM8.79) Maintain hold with a higher target price (TP) of RM9, from RM8.10 previously: We estimate that Bursa Malaysia’a first quarter of financial year ending Dec 31, 2015 (1QFY15) net pro... ...

DRB-Hicom’s JV to sell Lotus cars in China
April 21, 2015 10:15:46 am
DRB-Hicom Bhd (April 20, RM1.90) Maintain market perform with an unchanged target price of RM2.15: In an announcement to Bursa Malaysia, DRB-Hicom via wholly-owned subsidiary companies namely Proton Holdings Bhd and Lo... ...

IGB REIT lacks near-term growth catalysts
April 21, 2015 10:12:34 am
IGB Real Estate Investment Trust (REIT) (April 20, RM1.35) Maintain hold with a higher target price (TP) RM1.45: While we like IGB REIT for its strong earnings resilience, it lacks near-term growth catalysts. The manag... ...

Bumper profit expected for TNB’s 2QFY15 results
April 21, 2015 10:08:37 am
Tenaga Nasional Bhd (April 20, RM14.52) Maintain buy with a higher target price of RM16.29: The Edge weekly reported that JAKS Resources Bhd is in negotiation with Tenaga Nasional Bhd (TNB) to be a partner in the forme... ...

Templeton cools on Malaysian shorter sukuk as Zeti rules out cut
April 21, 2015 10:04:57 am
KUALA LUMPUR (Apr 21): A rally in Malaysia’s two-year Islamic bonds lost its key driver after central bank Governor Zeti Akthar Aziz seemed to rule out an interest-rate cut. Malaysia’s borrowing costs are accommodative and the ringgi... ...

AirAsia plans US$300m IPO for Indonesian unit in 2016
April 21, 2015 09:55:18 am
KUALA LUMPUR: Low-cost carrier AirAsia Bhd, Asia’s second-largest budget carrier by market value, is planning an initial public offering (IPO) for its Indonesian business early next year that will raise about US$300 million. It plans... ...

Stocks steady after China stimulus, euro hurt by Greek woes
April 21, 2015 09:48:07 am
TOKYO (April 21): Asian stocks were firm on Tuesday after China's latest step to prop up its faltering economy lifted global equities, while the euro was pressured on growing worries a cash-strapped Greece may default on its debt. MSCI's br... ...

Crude steady; U.S. inventories seen up again
April 21, 2015 09:47:48 am
TOKYO (Apr 21): U.S. crude futures held steady on Tuesday as a drop in stockpiles at a key U.S. delivery point offset near record high production in Saudi Arabia and an expected build in U.S. oil inventories. FUNDAMENTALS * NY... ...

Hiap Teck rises more than 3% on positive near term uptrend outlook
April 21, 2015 09:37:33 am
KUALA LUMPUR (April 21): Shares of Hiap Teck Ventures Bhd rose more than 3% in early trade today after Hong Leong IB Research said although Hiap Teck could experience some profit taking activities after a 7.9% w-o-w spike, near term uptrend remain......

Moody’s: M&As to persist in insurance sector in near term
April 21, 2015 09:31:17 am
KUALA LUMPUR: Fitch Ratings expects the level of merger and acquisition (M&A) activities within undercapitalised insurer and takaful operators among Malaysian operators will persist in the near term. In a new report released yesterday, ... ...

Why people distrust EPF proposal, even if it sounds good
April 21, 2015 09:30:23 am
KUALA LUMPUR (Apr 21): Ibrahim is a government pensioner but even he is against the proposal to change the age when private sector workers can withdraw their retirement savings, from 55 to 60. Criticism of the Employees Provident Fun... ...

‘Foreign investors buy RM307.3m’
April 21, 2015 09:30:16 am
KUALA LUMPUR: Investors classified as foreign bought RM307. 3 million last week compared with RM354.4 million two weeks ago, according to MIDF Research. In his weekly fund flow report yesterday, MIDF Research Zulkifli Hamzah said that in co... ...

Maseu urges MAS to provide regular updates on restructuring efforts
April 21, 2015 09:29:02 am
KUALA LUMPUR: The Malaysian Airline System Employees’ Union Peninsular Malaysia (Maseu) has urged national carrier Malaysia Airlines Bhd (MAS) to provide more regular and timely updates on its restructuring efforts. This will help reduce un... ...

Minister has no idea when Bernas will relist
April 21, 2015 09:26:25 am
KUALA LUMPUR: A year after Padiberas Nasional Bhd (Bernas) — a company mandated to manage the country’s rice supplies until 2021 — was privatised by Tradewinds Sdn Bhd, which is controlled by tycoon Tan Sri Syed Mokhtar Al-Bukhary, the gove... ...

Sunsuria to buy remaining half of JV firm
April 21, 2015 09:25:18 am
KUALA LUMPUR: Sunsuria Bhd has proposed to buy the half it does not own in joint-venture (JV) firm Sime Darby Sunsuria Development Sdn Bhd (SDSD) for RM173.4 million in cash. SDSD was incorporated as a 50:50 JV company between Sime Darby Pr... ...

Public Bank 1Q earnings rise 15% to RM1.17b
April 21, 2015 09:24:26 am
KUALA LUMPUR: Public Bank Bhd saw its net profit for the first quarter ended March (1QFY15) rise 15% to RM1.17 billion from RM1.02 billion on higher net interest income and non-interest income. Earnings per share strengthened to 30.34 sen f... ...

IGB Corp gives EcoFirst option to buy land for RM62.8m
April 21, 2015 09:23:26 am
KUALA LUMPUR: IGB Corp Bhd has granted EcoFirst Consolidated Bhd (ECB) the option to buy a small tract of land measuring 101,550.6422 sq m in Gombak, Selangor, for RM62.8 million. In an announcement to Bursa Malaysia yesterday, IGB (fundame... ...

Affin to balance retail banking loan portfolio
April 21, 2015 09:22:45 am
KUALA LUMPUR: Affin Holdings Bhd — the second-smallest lender in the country — aims to balance the loan portfolio of its retail banking division by making its corporate and consumer segments contribute half each to the division’s revenue in the ne......

KLCI edges up in line with regional markets
April 21, 2015 09:19:05 am
KUALA LUMPUR (April 21): The FBM KLCI edged up in early trade today in line with the gains at most regional markets. At 9am, the FBM KLCI rose 2.05 points to 1,850.71. The top gainers included Kuala Lumpur Kepong Bhd, Hong Leo... ...

Jobstreet open to SEA investments
April 21, 2015 09:18:11 am
KUALA LUMPUR: Jobstreet Corp Bhd is open to investing in any business in Southeast Asia including acquisition and starting a new job portal. However, its chief executive officer Mark Chang Mun Kee told reporters that the company was adoptin... ...

No sign of ringgit weakening further
April 21, 2015 09:16:27 am
KUALA LUMPUR: There are no signs indicating that the ringgit, which is currently trading at levels of 3.6130 against the US dollar, will depreciate further against the greenback. Bank of Singapore chief economist Richard Jerram said the rin... ...

AirAsia X agrees to compensate passengers after Australia scheduling snafu
April 21, 2015 09:15:29 am
SYDNEY (April 21): Malaysian budget airline AirAsia X Bhd said on Tuesday it will compensate travellers inconvenienced by its decision to quit direct flights to the Australian city of Adelaide after authorities received a "significant number" of c......

EPF proposes new options for withdrawal
April 21, 2015 09:15:27 am
KUALA LUMPUR: The Employees Provident Fund (EPF) has proposed two withdrawal options for its members to consider for the next two weeks starting today. This follows the public backlash on the provident fund’s proposal to raise the age for f... ...

Dr M fires new salvo at Najib
April 21, 2015 09:14:21 am
KUALA LUMPUR: Tun Dr Mahathir Mohamad fired a new salvo at Prime Minister Datuk Seri Najib Razak yesterday, this time including mention of his wife, Datin Seri Rosmah Mansor and her “lavish lifestyle”. Taking Najib to task again over unexpl... ...

Bioalpha queried on 135% share price jump
April 21, 2015 09:13:51 am
KUALA LUMPUR: Bioalpha Holdings Bhd, which debuted on the ACE Market of Bursa Malaysia last Tuesday, has seen its share price jump by135%. It told Bursa Malaysia yesterday that it was not aware of any unannounced corporate development that might a......

AffinHwang Capital maintains Buy on Aeon Credit, ups target to RM16.10
April 21, 2015 09:07:27 am
KUALA LUMPUR (April 21): AffinHwang Capital Research has maintained its “Buy” rating on Aeon Credit Services (M) Bhd (AeonCS) at RM14.48 with a higher target price of RM16.10 (from RM15.10) and said AeonCS ended FY15 with a more robust earnings de......

Teekay eyeing MISC’s AET?
April 21, 2015 08:24:57 am
KUALA LUMPUR: With news buzzing in international shipping publications that Canada-based Teekay Tankers is eyeing AET Tankers Ltd, the latter’s parent company MISC Bhd neither denied nor confirmed the reports when approached by The Edge Fin... ...

HLIB Research maintains Hold on Axis REIT, cuts target to RM3.53
April 21, 2015 08:24:21 am
KUALA LUMPUR (April 21): Hong Leong IB Research has maintained its “Hold” rating Axis REIT at RM3.60 with a lower target price of RM3.53 (from RM3.57) and said that although gross revenue in-line with house and consensus expectations, normalised P......

Passsenger travel on international markets up 4.6% y-o-y in February, says IATA
April 21, 2015 07:20:26 am
KUALA LUMPUR (April 21): Passenger travel on international markets rose 4.6% in February compared to a year ago, up on the 3.7% result in January, according to the International Air Transport Association (IATA). In a statement yesterday, th... ...

KLCI set to extend gains cautiously
April 21, 2015 07:07:38 am
KUALA LUMPUR (April 21): The FBM KLCI is expected to extend its gains albeit cautiously today in line with the overnight rebound at most global markets. Equity markets rebounded on Monday after China took steps to stimulate its economy and ... ...

Shares gain on China stimulus; Greece worries weigh on euro
April 21, 2015 06:54:34 am
NEW YORK (April 21): Equity markets rebounded on Monday after China took steps to stimulate its economy and Wall Street also rose on corporate earnings, while the euro weakened further on worries about Greece. The Chinese central bank on Su... ...

Wall St rallies on China stimulus ahead of tech earnings
April 21, 2015 06:51:25 am
(April 21): Wall Street ended sharply higher on Monday after China moved to stimulate its slowing economy while investors bought up technology stocks on cautious optimism on upcoming earnings reports. In the second industry-wide cut in two ... ...