The Edge Markets April 16, 2015 09:39:42 am

The Edge Markets April 16, 2015 09:39:42 am

OPEC oil output surge boosts surplus, despite higher demand
April 16, 2015 10:28:46 pm
LONDON (April 16): OPEC said its oil output surged in March, adding to a global glut, despite more evidence that the producer group's strategy of letting prices fall to hurt other producers is taking effect. OPEC's report may reinforce the ... ...

No breakthrough between Iran and UN nuclear watchdog
April 16, 2015 10:18:48 pm
VIENNA/MOSCOW/BRUSSELS (April 16): The U.N. nuclear watchdog said it had a "constructive exchange" with Iran this week, but there was no sign of a breakthrough on aspects of its nuclear programme that the agency says Tehran has failed to fully add......

SunPower, Apple to build solar projects in China
April 16, 2015 10:14:19 pm
BENGALURU (April 16): Solar panel maker SunPower Corp said it would partner with Apple Inc to build two solar power projects in China's Sichuan province with total capacity of 40 megawatts. The projects, when complete, will be co-owned by A... ...

Wall St dips, but Netflix surge supports Nasdaq
April 16, 2015 10:09:54 pm
(April 16): U.S. stocks edged lower on Thursday as corporate results showed little organic growth, even as they largely beat profit expectations. While Netflix surged following blockbuster results, curbing the decline on Nasdaq, shares of S... ...

Germany should cut taxes, economic institutes say
April 16, 2015 10:01:38 pm
BERLIN/GOETTINGEN (April 16): Germany should use its strong fiscal position to lower taxes, leading German, Swiss and Austrian economic institutes said on Thursday in a report commissioned by the German government. The German government bal... ...

IMF says 'excessive' currency depreciations should be avoided
April 16, 2015 10:00:42 pm
WASHINGTON (April 16): Overreliance on currency depreciations to boost domestic economies could exacerbate global tensions over exchange rates, the head of the International Monetary Fund said on Thursday. The sharp rise of the dollar again... ...

Japan's Sharp clinches $1.7 bln rescue, promises cuts -source
April 16, 2015 09:55:04 pm
TOKYO (April 16): Japan's Sharp Corp clinched a $1.7 billion bailout deal from its banks in return for a promise to cut 5,000 jobs and split off its ailing smartphone display unit, a person familiar with the deal said on Thursday. As part o... ...

Deutsche Post workers to expand parcel strike on Friday
April 16, 2015 09:48:08 pm
DUESSELDORF, Germany (April 16): Workers at Deutsche Post will expand strike action on Friday to a nationwide walkout to protest against the German group's plans to grow its parcel delivery business by using employees on lower pay deals, labour un......

U.S. housing starts data underperforms; jobless claims rise
April 16, 2015 09:38:43 pm
WASHINGTON (April 16): U.S. housing starts rose far less than expected in March and permits recorded their biggest drop since last May, which could raise concerns about the economy's ability to bounce back from a soft patch hit in the first quarte......

Citigroup profit jumps as legal, restructuring costs fall
April 16, 2015 09:36:52 pm
(April 16): Citigroup Inc, the third biggest U.S. bank by assets, reported a 16 percent jump in quarterly profit, beating analysts' estimates, as legal and restructuring costs plunged. Citi has been cutting costs and simplifying its structu... ...

U.S. CEO pay rose 12 pct in 2014 -Towers Watson
April 16, 2015 09:34:59 pm
BENGALURU/BOSTON (April 16): Chief executive officers of U.S. companies got a 12.1 percent pay raise in 2014, mainly driven by increases in the value of pension benefits, an analysis showed on Thursday. Towers Watson & Co, a risk and HR... ...

Eco World, Hibiscus, Sasbadi, VS Industry, Kumpulan Perangsang, mTouche and TM
April 16, 2015 09:33:45 pm
KUALA LUMPUR (Apr 16): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Friday, April 17) could include: Eco World Development Group Bhd, Hibiscus Petroleum Bhd, Sasbadi Holdings Bhd, VS Industr... ...

Gold rises as sluggish U.S. data pressures dollar
April 16, 2015 09:10:59 pm
LONDON/SINGAPORE (April 16): Gold rose for a second day on Thursday as soft U.S. housing and jobless reports weighed on the dollar, with a run of downbeat data adding to uncertainty over the timing of a rate rise from the Federal Reserve. D... ...

Brent crude oil hits 2015 high as U.S. output slows
April 16, 2015 09:07:41 pm
LONDON/SINGAPORE (April 16): Oil rose more than 3 percent on Thursday, pushing Brent crude to a 2015 high above $63 per barrel on increasing evidence that U.S. production is peaking, balancing a market that has been in heavy oversupply for more th......

Futures point to lower open; Netflix rallies early
April 16, 2015 09:03:25 pm
(April 16): U.S. stock index futures pointed to a lower open on Thursday, as investors continued to digest earnings that were largely ahead of expectations but show little organic growth. Overseas events were also a focus as concerns grew a... ...

U.S. housing starts rise below expectations; permits fall
April 16, 2015 08:55:32 pm
WASHINGTON (April 16): U.S. housing starts rose far less than expected in March and permits recorded their biggest drop since last May, which could raise concerns about the economy's ability to bounce back from a soft patch hit in the first quarte......

U.S. jobless claims rise; continuing claims lowest since 2000
April 16, 2015 08:52:27 pm
WASHINGTON (April 16): The number of Americans filing new claims for jobless benefits unexpectedly rose last week, but the underlying trend continued to point to a strengthening labor market. Initial claims for state unemployment benefits r... ...

Najib ignored me for 6 months, says Dr M
April 16, 2015 08:45:07 pm
(April 16): Tun Dr Mahathir Mohamad said he was given the cold shoulder for six months after questioning Prime Minister Datuk Seri Najib Razak on the delay of the "crooked bridge" project in the Johor Strait, the former prime minister told ... ...

Minister blames ignorance by all for Bible seizures
April 16, 2015 08:42:24 pm
(April 16): Tan Sri Joseph Kurup today blamed importers of Bibles, individuals as well as enforcement officers for being "ignorant of the standard operating procedure (SOP)” in the import of the religious book, causing the items to be seized and s......

VS Industry's HK unit to acquire China-based solar firm for RM12m
April 16, 2015 08:37:16 pm
KUALA LUMPUR (April 16): VS Industry Bhd said its Hong Kong-listed subsidiary VS International Group Ltd has entered into an agreement with Energy Ally Global Ltd to acquire Zhuhai Deyuan Energy Conservation Technology Co Ltd for RMB20 million (RM......

Aussie jumps on jobs data surprise; dollar struggles
April 16, 2015 08:32:46 pm
LONDON (April 16): The Australian dollar was the biggest mover on major currency markets on Thursday, jumping more than 1 percent after strong domestic jobs data while the U.S. dollar struggled to build any momentum after a volatile week. T... ...

TH Heavy falls 4.17%, a day after Quek ceases to be substantial shareholder
April 16, 2015 08:25:43 pm
KUALA LUMPUR (April 16): TH Heavy Engineering Bhd (THHE) which is involved in the fabrication of offshore oil and gas (O&G) facilities, saw its share price fall 1.5 sen or 4.17% today to 34.5 sen, with about 16.3 million shares traded, a day a... ...

Ukrainian journalist with pro-Russian views shot dead in Kiev
April 16, 2015 08:24:00 pm
KIEV/MOSCOW (April 16): A prominent Ukrainian journalist known for his pro-Russian views was shot dead on Thursday in Kiev by two masked gunmen, the interior ministry said, a day after a former lawmaker loyal to ousted President Viktor Yanukovich ......

Sasbadi gets RM2.3 mil publishing contract from MOE
April 16, 2015 08:16:19 pm
KUALA LUMPUR (April 16): Sasbadi Sdn Bhd (SSB), a wholly-owned subsidiary of Sasbadi Holdings Bhd, has received a letter of acceptance (LOA) from the Ministry of Education to publish, print and supply textbooks to all national schools in the count......

Euro zone yields sink to new lows, Greece in focus
April 16, 2015 08:15:12 pm
LONDON (April 16): Euro zone government borrowing costs slid to new lows on Thursday, a day after the European Central Bank pledged to fulfil its 1 trillion-euro bond-buying programme and as Greece's financial predicament deteriorated sharply.... ...

Copper set for biggest gain in 4 weeks on China stimulus bets
April 16, 2015 08:10:05 pm
LONDON/SHANGHAI/HONG KONG (April 16): Copper headed for the biggest gain in four weeks and aluminum climbed to a two-month high as speculation mounted that China will increase stimulus measures to support the economy. The Shanghai Composite... ...

mTouche partners Celcom to offer mobile communication app
April 16, 2015 08:06:04 pm
KUALA LUMPUR (Apr 16): mTouche Technology Bhd has teamed up with Celcom Axiata Bhd to provide the latter's mobile subscribers with mTouche's fully Malaysian developed encrypted and secured mobile communication application, with a range of features......

Hibiscus' unit acquires 30% interest in Lundin-operated PL544
April 16, 2015 08:02:26 pm
KUALA LUMPUR (April 16): Hibiscus Petroleum Bhd said its 35%-owned entity, Lime Petroleum Norway AS (Lime Norway), has executed an agreement with Lundin Norway AS (Lundin) to acquire a 30% interest in PL544, which is operated by Lundin. Fol... ...

Goldman Sachs' profit beats estimates on rise in trading revenue
April 16, 2015 07:54:34 pm
NEW YORK (April 16): Goldman Sachs Group Inc. reported first- quarter earnings that beat analysts’ estimates as the firm posted a bigger increase in revenue from trading debt, commodities and currencies than its rivals and the highest merger-advis......

KPS, Setia Eco get more time to fulfil conditions of JV development agreement
April 16, 2015 07:49:53 pm
KUALA LUMPUR (April 16): Kumpulan Perangsang Selangor Bhd (KPS) said a five-month extension has been granted for the fulfilment of conditions precedent in the agreement signed between its unit Cash Band (M) Bhd and Setia Eco Templer Sdn Bhd for th......

IILM reissues US$860m A-1 sukuk with 0.56% profit rate
April 16, 2015 07:49:14 pm
KUALA LUMPUR (Apr 16): The International Islamic Liquidity Management Corp (IILM) has successfully reissued its US$860 million 3-month tenor sukuk, priced at 0.56555% profit rate. The sukuk, rated A-1 by Standard and Poor’s Rating Services,... ...

BlackRock's quarterly profit rises as fund flows increase
April 16, 2015 07:44:01 pm
BENGALURU/NEW YORK (April 16): BlackRock Inc, the world's largest money manager, said on Thursday that first-quarter profit rose by 8.7 percent, boosted by positive flows across asset classes. The company's net income rose to $822 million, ... ...

European equities retreat from highs on Greek concerns
April 16, 2015 07:24:48 pm
LONDON/PARIS (April 16): European equities retreated on Thursday, with growing concerns about Greece's debt situation prompting investors to take some profits after the previous session's 14-year highs. Greece's ATG share index fell 0.8 per... ...

PetDag appoints Md Arif Mahmood as chairman
April 16, 2015 07:21:33 pm
KUALA LUMPUR (April 16): Petronas Dagangan Bhd (PetDag) which is 69.86%-owned by state oil firm Petroliam Nasional Bhd (Petronas), has appointed Md Arif Mahmood as chairman and director to its board, replacing Datuk Wan Zulkiflee Wan Ariffin. ... ...

Contractors extorted by triads, causing project delays, says Zahid
April 16, 2015 07:18:20 pm
(April 16): The trend among gangsters to extort protection money from contractors is affecting the progress of the construction industry, said Datuk Seri Ahmad Zahid Hamidi. He said the Home Ministry was made aware of this nationwide trend ... ...

Sentoria’s joint MDs place out 2.2% stake to institutional investor
April 16, 2015 07:17:53 pm
KUALA LUMPUR (Apr 16): Sentoria Group Bhd’s joint managing directors – Datuk Gan Kim Leong and Datuk Chan Kong San – have placed out 10 million shares of 20 sen each or a 2.2% stake in the property developer to an institutional investor to improve......

The jumbo jet faces a make or break year at Boeing, Airbus
April 16, 2015 07:16:28 pm
Seattle/Paris (Apr 16): The jumbo jet, for many years the workhorse of modern air travel, could be close to running out of runway. Last year, there were zero orders placed by commercial airlines for new Boeing 747s or Airbus A380s, reflecti... ...

Futures drop, but Netflix rallies early
April 16, 2015 07:15:27 pm
(Apr 16): U.S. stock index futures edged lower on Thursday as investors continued to digest a corporate reporting season that has come in ahead of profit expectations but shows little in the way of organic growth. * Of the 36 companies in t... ...

Singapore index snaps gains after stock trading link denial
April 16, 2015 07:11:10 pm
BANGKOK (Apr 16): Southeast Asian stock markets mostly rose on Thursday as a rally in global oil prices lifted energy-related shares but the Singapore benchmark snapped a four-day winning streak after the bourse's operator denied a possible stock ......

Palm ends winning streak; slips on strong ringgit, demand concerns
April 16, 2015 07:02:07 pm
KUALA LUMPUR (Apr 16): Malaysian palm oil futures ended lower for the first time in five days on Thursday as the contract succumbed to the strong ringgit and concerns that demand in April would be weaker than anticipated. The Malaysian curr... ...

TM introduces two new, cheaper broadband packages
April 16, 2015 07:00:00 pm
KUALA LUMPUR (Apr 16): Telekom Malaysia Bhd (TM) today announced two new broadband packages in support of the government's move towards boosting broadband take-up rate in the country. TM (fundamental: 1; valuation: 1.1) said in a statement ... ...

KEuro extends disposal deadline of Talam shares by one month
April 16, 2015 06:49:33 pm
KUALA LUMPUR (Apr 16): Kumpulan Europlus Bhd (KEuro) and Tan Sri Datuk Chan Ah Chye, a director and substantial shareholder of Talam Transform Bhd, have agreed to further extend by another month the unconditional date to complete the proposed disp......

Brent crude oil hits 2015 high as U.S. output slows
April 16, 2015 06:44:33 pm
LONDON (Apr 16): Oil rose more than 3 percent on Thursday, pushing Brent crude to a 2015 high above $63 per barrel on increasing evidence that U.S. production is peaking, balancing a market that has been in heavy oversupply for more than a year....

Deutsche Bank: GST came at favourable time for Malaysia
April 16, 2015 06:39:07 pm
KUALA LUMPUR (Apr 16): The implementation of the Goods and Services Tax (GST) came at a favourable time for Malaysia, when inflation is likely to take off from a record low, according to Deutsche Bank. In its Asia Economics Monthly report t... ...

Gold up on softer shares, sluggish U.S. data
April 16, 2015 06:25:58 pm
LONDON (Apr 16): Gold rose on Thursday, heading for a second straight session of gains as European shares fell and weak U.S. data added to uncertainty over the timing of a rate rise by the U.S. Federal Reserve. Spot gold gained 0.4 percent ... ...

OPEC sees higher demand for its oil as price drop hits rivals
April 16, 2015 06:23:50 pm
LONDON (Apr 16): OPEC said on Thursday demand for its oil this year would be higher than previously thought as its strategy of letting prices fall to hurt other producers begins to take effect. But the monthly report from the Organization o... (funct...

MRT Corp investigates into cause of pipe burst in Jalan Bukit Bintang
April 16, 2015 06:17:58 pm
KUALA LUMPUR (Apr 16): Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) has begun investigations into what caused a water pipe to burst, resulting in a sinkhole to form on the sidewalk of Jalan Bukit Bintang early morning today. MRT Corp’s... ...

Nokia deal is full of risks as Moody’s digs into merger details
April 16, 2015 06:09:07 pm
(Apr 16): Nokia Oyj shares gained on news it struck a $16.6 billion deal to buy French rival Alcatel-Lucent SA. But through the eyes of a credit analyst, the picture is far from rosy. Nokia’s plan to buy Alcatel with stock will create the w... ...

Former Perdana Parkcity ED joins Berjaya Land
April 16, 2015 06:08:58 pm
KUALA LUMPUR (April6): Former executive director (ED) of Perdana Parkcity Sdn Bhd which is the developer of the Desa ParkCity project in Kuala Lumpur, Phan Yoke Seng, has joined Berjaya Land Bhd (Bland) as an executive director. In a filing... ...

One year on, Ramkarpal speaks about following in the footsteps of a giant
April 16, 2015 06:05:32 pm
(April 16): On April 17, 2014, Malaysians mourned the sudden death of one of the country’s most popular politicians, Karpal Singh. For his family, his sudden departure marked the beginning of an emotionally tumultuous year to come, one that... ...

The State of the Nation: Ringgit weighed down by ‘psychological fears’
April 16, 2015 06:00:00 pm
SPOOKED BY Fitch Ratings’ warning of a “more than 50% chance” of it downgrading Malaysia’s sovereign ratings by June, the ringgit fell to a new six-year low of 3.7350 against the US dollar shortly before the closing bell last Friday, before ending......

Singapore property gloom has silver lining for investors
April 16, 2015 05:53:21 pm
(Apr 16): Here’s a good reason to own Singapore property shares: you might not have to own them for long. Investors from ABN Amro Private Banking to Baring Asset Management Ltd. are eyeing developers that may be taken private by their paren... ...

KLCI sees 11th-hour surge on crude oil, ringgit gains
April 16, 2015 05:42:16 pm
KUALA LUMPUR (Apr 16): The FBM KLCI closed 7.81 points or 0.42% higher as an 11th-hour surge helped the index finish in positive territory. The KLCI had gained as higher crude oil prices, firmer ringgit and upward trend in most regio... ...

No reason to quit as MB, says Mukhriz
April 16, 2015 05:37:45 pm
(April 16): Kedah Menteri Besar Datuk Seri Mukhriz Mahathir said he had no intention of resigning from his post, despite coming under fire for not openly stating his support for Prime Minister Datuk Seri Najib Razak, The Star reported....

Passport photo of MH17 victim brings comfort to family
April 16, 2015 05:31:08 pm
(April 16): Nine months after Malaysia Airlines flight MH17 was shot down over eastern Ukraine, a family has found comfort in the discovery of a passport photograph amid the debris still littering the crash site. The photograph of Malaysian... ...

Putrajaya’s propaganda chief comes to Najib’s defence against Dr M
April 16, 2015 05:30:56 pm
(April 16): A few Umno leaders, including the chief of the Special Affairs Department (Jasa), Putrajaya's propaganda unit, are defending Prime Minister Datuk Seri Najib Razak from attacks over 1Malaysia Development Bhd (1MDB) by calling for proof ......

Emerging stocks romp towards near seven-month high
April 16, 2015 05:30:16 pm
LONDON (Apr 16): Emerging market stocks rose to near seven-month highs on Thursday, riding momentum from a global equities surge and data from China showing investment into the country is holding up against slowing growth. The MSCI emerging... ...

Ringgit gains most since 2013 as Fed bets pared on factory data
April 16, 2015 05:25:22 pm
(Apr 16): Malaysia’s ringgit gained the most since September 2013 after disappointing U.S. data prompted traders to pare rate-increase bets. The ringgit rose as much as 1.5 percent versus the greenback, leading gains in Asia. It closed up 1... ...

Dr M shocked at Umno support for PAS’s hudud, says it is un-Islamic
April 16, 2015 05:25:18 pm
(April 16): Former prime minister Tun Dr Mahathir Mohamad today warned Umno of the repercussions of supporting PAS's agenda to implement hudud punishments in Kelantan, reiterating that the Islamic penal code was being introduced for political purp......

Weather not reason for helicopter crash, reports local daily
April 16, 2015 05:19:46 pm
(April 16): Investigators probing the helicopter crash that killed Tan Sri Jamaluddin Jarjis and five others on April 4 said the weather played no part in the tragedy. According to a source in the investigation, the technical experts involv... ...

Moody’s: RHB Bank’s new capital and reorganisation is credit positive
April 16, 2015 05:19:03 pm
KUALA LUMPUR (Apr 16): Moody’s Investors Service said RHB Bank Bhd’s new capital and reorganisation plan is “credit positive” to the bank as it will enhance its capital buffer and improve its ability to retain capital through the repayment of debt......

Unilever soars to record as revenue growth beats estimates
April 16, 2015 05:15:23 pm
(Apr 16): Unilever, the maker of Magnum ice cream and Flora spreads, reported estimate-beating first-quarter sales growth, sending the shares soaring to a record as an earlier Easter holiday boosted sales at its struggling food division. Un... ...

MACC detains minister’s private secretary for making RM500,000 in false claims
April 16, 2015 05:05:50 pm
(April 16): A private secretary to a minister was detained by the Malaysian Anti-Corruption Commission (MACC) in Kuching for allegedly making about RM500,000 worth of fraudulent claims, the Borneo Post reported. The 41-year-old suspect, who... ...

Crop of fresh bonds keeps secondary markets subdued
April 16, 2015 05:05:22 pm
SINGAPORE (Apr 16): Asian credit markets were subdued today as market participants focussed on developments related to a batch of bonds to be priced later today. "It's been quite quiet today, compared with yesterday's frantic trading of new... ..

Australia, Malaysia to share cost of MH370 search expansion
April 16, 2015 04:58:12 pm
(April 16): Malaysia and Australia are expected to share AUS$50 million (RM141 million) cost of extending the search for MH370 aircraft if the plane is not found in the first 60,000 sq km search zone in the Indian Ocean. Transport Mi... ...

TOCOM extends gain as Brent crude hits 2015 highs
April 16, 2015 04:46:13 pm
TOKYO (Apr 16): Benchmark Tokyo rubber futures rose for a second day on Thursday, touching a key 200 yen level, helped by a recovery in oil prices and higher Shanghai futures amid expectations for further government stimulus in top buyer China....

Why fuss over my luxury watches, I was a corporate figure, says Zahid
April 16, 2015 04:42:27 pm
(April 16): Datuk Seri Ahmad Zahid Hamidi today defended his purchase of three luxury watches worth more than RM1 million in total, saying that he was a corporate figure before becoming a politician. At a press conference in Serdang today, ... ...

BMW Malaysia lowers car prices by up to 1.9%, motorcycles by up to 18%
April 16, 2015 04:39:40 pm
BUKIT KIARA (Apr 16): German premium automaker BMW Malaysia Sdn Bhd is cutting the prices of its BMW and Mini vehicles by up to 1.9% and its motorcycle brand - BMW Motorrad - by up to 18%. "This is part of our concerted effort to tra... ...

Euro zone bond yields sink to historic lows
April 16, 2015 04:36:03 pm
LONDON (Apr 16): Euro zone government borrowing costs slid to new lows on Thursday, a day after the European Central Bank pledged to fulfil its 1 trillion euro bond-buying programme, although regional stocks took a step back from this week's multi......

Malaysia banishes sukuk premium in US$1.5bn issue
April 16, 2015 04:36:00 pm
SINGAPORE (Apr 16): The Government of Malaysia sold the world's first 30-year sovereign sukuk yesterday and, in the process, shrugged off domestic woes to establish a long-dated benchmark Islamic curve for other sovereigns to follow. ...

MH370 search area will be expanded if needed
April 16, 2015 04:34:48 pm
(April 16): The search for missing Malaysia Airlines flight MH370 will likely be expanded to cover another 60,000 square kilometres in the event that the current search zone does not produce any result. This was the message from the three g... ...

Aussie jumps on jobs data surprise; euro retreats
April 16, 2015 04:31:58 pm
LONDON (Apr 16): The Australian dollar was the biggest mover on major currency markets on Thursday, jumping almost 1 percent after strong domestic jobs data while the U.S. dollar edged higher against the euro after a volatile week. The Auss... ...

PKR suggests two-tier EPF withdrawals at 55 and 60
April 16, 2015 04:24:05 pm
(Apr 16): Instead of raising the age limit to 60 for withdrawals from the Employees Provident Fund (EPF), contributors should instead be allowed to withdraw their retirement savings in stages, PKR vice-president Rafizi Ramli said today. He ... ...

Moody’s: RHB Bank’s new capital and reorganisation plan is "credit positive" to the bank
April 16, 2015 04:21:22 pm
Moody’s: RHB Bank’s new capital and reorganisation plan is "credit positive" to the bank as it enhances capital buffer and improves its ability to retain capital through debt repayment at holding company level ...

BMW Malaysia lowers price of its cars and motorcyles post-GST, introduces the new i8 model here
April 16, 2015 04:13:57 pm
BMW Malaysia lowers prices of its cars by up to 1.9% and motorcyles by up to 18% post-GST, introduces the new i8 model here  ...

European shares halt rally; Diageo dips after sales fall
April 16, 2015 04:07:03 pm
PARIS (Apr 16): European stocks slipped in early trading on Thursday, halting their recent sharp rally, with shares in Diageo dropping after it posted a fall in sales. Diageo, the world's largest spirits maker, was down 2.6 percent after sa... ...

Petronas real estate arm eyes multi-billion ringgit KLCC assets
April 16, 2015 04:06:15 pm
KUALA LUMPUR (Apr 16): Petroliam Nasional Bhd's (Petronas) real estate investment trust may add two multi-billion ringgit prime land assets here into its porfolio. KLCC Real Estate Investment Trust (KLCC REIT) chief executive officer... ...

GST issues among MNCs in free zones largely resolved
April 16, 2015 04:01:14 pm
KUALA LUMPUR (Apr 16): The Royal Malaysian Customs Department has resolved most of the goods and services tax (GST) issues involving multinational corporations (MNCs) in free industrial zones. Customs Department GST division director Datuk ... ...

Customs urges small retailers to invest in GST-compliant sales system
April 16, 2015 03:55:48 pm
(Apr 16): Installing a point-of-sale (POS) system to issue printed receipts as part of implementing the goods and services tax (GST) will only be a one-time investment, the Customs Department's GST division told operators of small businesses today......

Gold extends gains on softer dollar, sluggish U.S. data
April 16, 2015 03:45:33 pm
SINGAPORE (Apr 16): Gold extended gains above $1,200 an ounce on Thursday, rising for a second straight session on a softer dollar and weak U.S. industrial production data. Spot gold gained 0.3 percent to $1,204.76 an ounce by 0659 GMT, aft... ...

Former minister Peter Chin now GreenTech Malaysia chairman
April 16, 2015 03:41:17 pm
PUTRAJAYA (Apr 16): Tan Sri Peter Chin Fah Kui, the former minister of energy, green technology and water, has been named the new chairman of the Malaysia Green Technology Corp (GreenTech Malaysia), an appointment that has been effective since Apr......

Malaysia banishes sukuk premium in US$1.5bn issue
April 16, 2015 03:32:41 pm
SINGAPORE (Apr 16): The Government of Malaysia sold the world's first 30-year sovereign sukuk yesterday and, in the process, shrugged off domestic woes to establish a long-dated benchmark Islamic curve for other sovereigns to follow. ...

80% of families earning under RM3,000 hardest hit by GST, says PKR Youth
April 16, 2015 03:27:08 pm
(Apr 16): About 80% of families in Malaysia who earn less than RM3,000 have been hit the hardest by the goods and services tax (GST), having to fork out at least an extra RM100 a month, PKR Youth said today. This was why they were organisin... ...

Palm prices may hit 2,300 rgt by end-2015 - Mielke
April 16, 2015 03:21:47 pm
KUALA LUMPUR (Apr 16): Palm oil prices will likely trade at 2,200 ringgit by end-June, leading analyst Thomas Mielke said on Thursday, and may rise to 2,300 ringgit by end-2015, partly supported by weaker output of rival oils. However, pric... ...

Eco World gets LOA for Batu Kawan property project
April 16, 2015 03:13:24 pm
KUALA LUMPUR (Apr 16): Eco World Development Group Bhd confirmed it has received a letter of award (LOA) from the Penang Development Corporation (PDC) for the development of the proposed Eco Marina Development. According to a filing to Burs... ...

Holcim says expects listing of new shares in mid July
April 16, 2015 03:05:20 pm
ZURICH (Apr 16): Swiss cement maker Holcim said on Thursday it expects the first tranche of new shares in its tie-up with France's Lafarge to be listed on exchanges in Zurich and Paris in mid July. Shareholders must back a capital increase ... ...

Brent crude hits 2015 highs as U.S. production slows
April 16, 2015 03:05:08 pm
SINGAPORE (Apr 16): Brent crude oil hit 2015 highs above $63 per barrel on Thursday after a rally of more than 5 percent the previous session, and analysts said more price rises were likely despite market oversupply. Front-month Brent crude... ...

Malaysia plane search area said to expand if current plan fails
April 16, 2015 02:53:57 pm
(Apr 16): A stretch of the southern Indian Ocean being scoured for the missing Malaysia Airlines Flight 370 may almost double in size to 120,000 square kilometers (46,000 square miles), according to an e-mail received by the next-of-kin of those o......

Weak U.S. production data lifts Asia FX, ringgit jumps on oil
April 16, 2015 02:45:06 pm
SINGAPORE (Apr 16): Most emerging Asian currencies rose on Thursday as dismal U.S. industrial production data bolstered expectations of a delay in the Federal Reserve's interest rate increase, hitting the dollar. The Malaysian ringgi... ...

Palm prices seen trading at 2,200 ringgit by end-June - Mielke
April 16, 2015 02:40:10 pm
KUALA LUMPUR (Apr 16): Palm oil prices will likely trade at 2,200 ringgit by end-June, leading analyst Thomas Mielke said on Thursday, and may rise to 2,300 ringgit by end-2015, although prices will likely be volatile. "This is a market whi... ...

Petronas subsidiary KLCC REIT eyes multi-billion ringgit asset buys
April 16, 2015 02:30:49 pm
Petronas subsidiary KLCC REIT eyes multi-billion ringgit asset buys   ...

Palm rises for 5th day on planned Indonesian export levy
April 16, 2015 02:21:21 pm
JAKARTA (Apr 16): Malaysian palm oil futures rose on Thursday heading for a fifth day of gains as top producer Indonesia prepared to increase export levies on palm, but concerns about over-supply and wavering demand capped gains. "Th... ...

Malaysia undergoing a ‘slow-motion political crisis’, says paper
April 16, 2015 02:13:33 pm
KUALA LUMPUR (Apr 16): Despite presenting itself as one of the wealthiest and most stable countries in the region, Malaysia is in fact heading down a dangerous path as a series of political crises coupled with a growing oppression of rights... ...

Penang govt okays Eco World's planned 188ha (470 acre) Batu Kawan property project
April 16, 2015 02:04:57 pm
Penang govt okays Eco World's planned 188ha (470 acre) Batu Kawan property project   ...

Palm stocks to rise in H2 on strong output, poor biodiesel demand-analyst Fry
April 16, 2015 01:44:49 pm
KUALA LUMPUR (Apr 16): Stronger crude palm oil (CPO) output coupled with poor demand for biodiesel will drive up stocks of the tropical oil in the second half of the year, weighing on prices, leading industry analyst James Fry said on Thursday....

Bursa's Invest Malaysia to showcase local, Asean corporates
April 16, 2015 01:41:02 pm
KUALA LUMPUR (Apr 16): Bursa Malaysia Bhd's annual flagship event Invest Malaysia Kuala Lumpur (IMKL) 2015 next week will be a platform for notable Malaysian and regional companies to promote themselves to global institutional investors....

CBIP bags RM25.47m palm oil mill contracts
April 16, 2015 01:38:38 pm
KUALA LUMPUR (Apr 16): CB Industrial Product Holding Bhd (CBIP) has secured two contracts collectively worth RM25.47 million from PT Niagamas Gemilang to design and construct a palm oil mill. In a filing with Bursa Malaysia today, CBIP (fun... ...

Asia stocks follow global surge, dollar on defensive
April 16, 2015 01:37:25 pm
TOKYO (Apr 16): Most Asian share markets took cues from a global surge in equities and rose on Thursday, while weak U.S. economic data sent the dollar lower. Spreadbetters expected Britain's FTSE to open slightly higher, while Germany's DAX... ...

Aussie jumps on jobs data surprise; dollar nurses losses
April 16, 2015 01:28:08 pm
SINGAPORE/SYDNEY (Apr 16): The Australian dollar gained a lift from strong Australian jobs data, while the greenback struggled to gain traction after weak U.S. output data added to uncertainty over the timing of a Federal Reserve interest rate ris......

Frontken, Power Root, AT Systematization, Connectcounty, DGB Asia, GAB, Pharmaniaga, Ablegroup, Century Logistics, Degem, SLP Resources and Public Packages Holdings
April 16, 2015 01:23:53 pm
KUALA LUMPUR (April 16): theedgemarkets.com has highlighted 12 stocks with momentum at  afternoon market close today. Two of the stocks show positive momentum while 10 show negative momentum. Stocks with positive momentum are: Frontk... ...

Hektar REIT expects a strong performance in 2015
April 16, 2015 01:22:41 pm
KUALA LUMPUR (Apr 16): Hektar Asset Management Sdn Bhd, the manager of Hektar Real Estate Investment Trust (REIT), expects to maintain a strong portfolio management in 2015. According to Hektar REIT chairman and chief executive officer Datu... ...

ECB rues limits of stimulus as IMF gauges rust in Euro economy
April 16, 2015 01:18:39 pm
(Apr 16): As European Central Bank policy makers vaunt the success of their stimulus measures so far, they remain as aware as ever of its limits. Fresh from their latest policy meeting in Frankfurt on Wednesday, euro-zone officials are now ... ...

Most up on gains in energy shares; Philippines' Bloomberry gains
April 16, 2015 01:12:45 pm
BANGKOK (Apr 16): Southeast Asian stock markets mostly rose on Thursday as investors shifted their focus to energy shares after a rally in global oil prices, while Philippines' Bloomberry Resorts Corp jumped after a casino deal in South Korea.... ...

Malaysian govt's US$1.5b Islamic bonds oversubscribed
April 16, 2015 01:08:53 pm
KUALA LUMPUR (Apr 16): Global investors oversubscribed the Malaysian government's US$1.5 billion (RM5.48 billion) Islamic bonds, according to the finance ministry. In a statement today, finance ministry secretary general of treasury ... ...

KLCI pares gains as Genting-related stocks dip
April 16, 2015 12:59:48 pm
KUALA LUMPUR (Apr 16): The FBM KLCI pared some of its gains at the midday break today despite the uptrend at most regional markets. At 12.30pm, the FBM KLCI was up 1.75 points to 1,841.88. The index had earlier risen to its intra-mor... ...

Brent crude hits 2015 highs as U.S. production slows
April 16, 2015 12:32:36 pm
SINGAPORE (Apr 16): Brent crude oil hit 2015 highs above $63 per barrel on Thursday after a rally of more than 5 percent the previous session and analysts said more price rises were likely despite market oversupply. Front-month Brent crude ... ...

Malaysia's Malakoff sets tight bookbuilding range in up to $750 mln IPO -sources
April 16, 2015 12:32:00 pm
KUALA LUMPUR (Apr 16): Malakoff Corporation Bhd , Malaysia's largest independent power firm, set a tight bookbuilding range for its initial public offering, two people with direct knowledge of the process said, with solid support from domes... ...

Palm buyers seen delaying purchases to get duty-free cargoes from Malaysia
April 16, 2015 12:28:42 pm
KUALA LUMPUR (Apr 16): Malaysia's move to scrap its crude palm oil export tax in May will likely prompt India and China, the biggest buyers of the edible oil, to delay purchases to next month to get cheaper cargoes, industry sources said on Thursd......

Islamic law debate puts more pressure on Malaysia PM
April 16, 2015 12:23:33 pm
KOTA BHARU (Apr 16): Feuding over an Islamic penal code that stipulates stoning for adultery and amputation for theft has put a spotlight on Malaysian Prime Minister Najib Razak's struggle to secure the majority Muslim vote and fend off att... ...

Palm oil's target at 2,214 ringgit aborted
April 16, 2015 12:13:23 pm
SINGAPORE (Apr 16): A bullish target at 2,214 ringgit per tonne has been temporarily aborted for palm oil , as it failed to hover above a support at 2,157 ringgit. The support is at the 50 percent Fibonacci retracement on the rise from the ... ...

Explain your role in 1MDB, Umno division chiefs tell Jho Low
April 16, 2015 12:12:17 pm
(Apr 16): Umno division chiefs are pressuring businessman Low Taek Jho to return to Malaysia and explain his role in debt-ridden 1Malaysia Development Berhad (1MDB). The party’s grass root leaders have challenged Low, who is better k... ...

Insider Asia’s Stock Of The Day: Thong Guan
April 16, 2015 12:11:10 pm
Thong Guan Industries Bhd Thong Guan (Fundamental: 1.8/3, Valuation: 2.0/3) saw its share price rise as high as RM2.41 from RM2.07 when we first recommended the stock, in November 2014. However, prices fell to... ...

Stocks With Momentum: KEN
April 16, 2015 12:09:45 pm
KEN Holdings Bhd (-ve) Shares for property developer, KEN (Fundamental: 2.3/3, Valuation: 2.4/3) gained 10.2% this week, closing at a high of RM1.19 yesterday. Its shares are attractively valued and the company has strong fu... ...

Stocks With Momentum: APFT
April 16, 2015 12:06:23 pm
APFT Bhd (+ve) Shares for Asia Pacific Flight Training (Fundamental: 0.2/3 Valuation: 0.3/3) have gained 70.8% since March on heavy volume. On 26-27 March, the company fixed the price for 20 million new shares... ...

Stocks With Momentum: Denko
April 16, 2015 12:06:14 pm
Denko Industrial Corporation Bhd (+ve) Shares for Denko (Fundamental: 0.35/3, Valuation: 0.9/3) finally clawed back all of its losses, and a little more, following the sharp plunge at end-November, after posting net loss of ... ...

World Bank report: Number of unbanked individuals drops to 2 bil
April 16, 2015 11:58:32 am
KUALA LUMPUR (Apr 16): Between 2011 and 2014, some 700 million people became account holders at banks and financial institutions globally, while the total of “unbanked” individuals dropped 20% to two billion adults, according to the World B... (funct...

Tropicana gains 4.46% on proposed disposal of 73% shares in Tenaga Kimia
April 16, 2015 11:56:14 pm
KUALA LUMPUR (Apr 16): Tropicana Corporation Bhd's shares gained as much as 5 sen or 4.46% on the news that the group expects to record a net gain of...

Telco stocks fall on broadband prices reduction
April 16, 2015 11:55:32 am
KUALA LUMPUR (Apr 16): Shares in most telecommunication players are down marginally in the morning trades after Putrajaya announced that the fees for...

Media Prima sees challenges from pay TV channels
April 16, 2015 11:40:53 am
Media Prima Bhd (April 15, RM1.69) Maintain sell, with a target price (TP) of RM1.50. Digital terrestrial television (DTTV) in Malaysia is likely to be launched by the second half of 2015 (2H15) or early 2016, with abo... ...

Eco World to continue building war chest of projects
April 16, 2015 11:37:09 am
Eco World Development Group Bhd (April 15, RM1.80) Initiate coverage at outperform, with a target price (TP) of RM2.05. The key management team behind Eco World is well-experienced in quality township planning. They co... ...

Benalec shows commitment to build future oil storage hub
April 16, 2015 11:30:13 am
Benalec Holdings Bhd (Apr 15, 79.5 sen) Maintain buy with a fair value of RM1.25. We maintain our “buy” recommendation on Benalec Holdings with an unchanged fair value of RM1.25 per share. This pegs the stock at a 45% ... ...

Bursa’s trading value up on recovery in 1Q15 sentiment
April 16, 2015 11:29:16 am
Bursa Malaysia Bhd (April 15, RM8.70) Maintain hold, with a revised target price (TP) of RM8.30. We are expecting Bursa Malaysia to report earnings growth of 9% year-on-year (y-o-y) in the first quarter of 2015 (1Q15) ... ...

China commerce ministry confident of stable export growth in 2015
April 16, 2015 11:27:35 am
BEIJING (Apr 16): China's Commerce Ministry is confident that China will achieve stable export growth this year, the ministry's spokesman Shen Danyang said in a press conference in Beijing on Thursday. Trade data released on Monday showed e... ...

Sunway unit a strong contender for MRT and LRT works
April 16, 2015 11:22:30 am
Sunway Bhd (Apr 15, RM3.75)Maintain buy with a revised target price (TP) of RM4.24. Sunway’s share price has appreciated 14% year-to-date, outperforming the benchmark FBM KLCI and Kuala Lumpur Property... ...

S P Setia on track to achieve RM4.6b sales target for FY15
April 16, 2015 11:21:45 am
S P Setia Bhd (April 15, RM3.46) Maintain buy with a target price (TP) of RM4.10. S P Setia is set to enjoy lumpy contributions from its overseas projects (in Australia, Singapore and the United Kingdom) with RM1.5 bil... ...

EU’s turn to express concern over Putrajaya’s enhanced Sedition Act
April 16, 2015 11:16:09 am
(Apr 16): After the US State Department, the European Union (EU) has also expressed concern over Putrajaya's move to strengthen the Sedition Act instead of repealing it, saying that this would impact the freedom of expression in Malaysia. "... ...

Kenanga partners global anti-fraud leader
April 16, 2015 11:13:13 am
KUALA LUMPUR (Apr 16): K & N Kenanga Holdings Bhd, which owns Kenanga Investment Bank Bhd (KIBB), is partnering the Association of Certified Fraud Examiners (ACFE) to improve the financial services entity's corporate governance and inte... ...

EPF to engage public on full withdrawal age
April 16, 2015 11:08:21 am
KUALA LUMPUR: The Employees Provident Fund (EPF) is commencing engagement programmes with key stakeholders and members from Monday on the issue of permissible full withdrawal age for Account I. “The engagement programmes will cover areas of... ...

Foreign ownership of govt securities up 4.1% m-o-m in March
April 16, 2015 11:00:07 am
KUALA LUMPUR: Foreign ownership of government securities continued trending upwards in March 2015, increasing 4.1% month-on-month (m-o-m) in value, said RAM Rating Services Bhd (RAM Ratings). In a statement yesterday, RAM Ratings said the r... ...

Nikkei down as drugmakers, food firms retreat; Sharp gains on restructuring hopes
April 16, 2015 10:53:18 am
TOKYO (Apr 16): Japanese stocks slipped to more than a one-week low on Thursday morning as investors cut back on some recent outperformers including food companies and drugmakers, while Sharp Corp surged on restructuring hopes. Sharp rallie... ...

Maybank to strengthen digital banking via apps
April 16, 2015 10:49:32 am
KUALA LUMPUR: Malayan Banking Bhd (Maybank) has launched two new mobile applications (apps) — Maybank Treats and Maybank Property Finder — as it aims to strengthen the group’s digital presence as well as enhance convenience for its cards an... ...

Pesona Metro advances 6% on RM267m Cyberjaya project
April 16, 2015 10:49:00 am
KUALA LUMPUR (Apr 16): Pesona Metro Holdings Bhd advanced as much 4.5 sen or 6% to 82 sen after the group secured a RM266.75 million property construction project in Cyberjaya, Selangor. Pesona Metro (fundamental: 1.8; valuation: 0.5) had l... ...

Ringgit leads Asian currency gains as Fed bets send dollar lower
April 16, 2015 10:43:11 am
(Apr 16): Malaysia’s ringgit led gains in Asian currencies as the dollar extended losses after disappointing U.S. data prompted traders to again pare rate-increase bets. The ringgit rose 0.9 percent to 3.6737 versus the greenback as of 10:1... ...

Box-Pak sees Hanoi, Johor ops turn around by year-end
April 16, 2015 10:41:29 am
KUALA LUMPUR: Box-Pak (M) Bhd, a subsidiary of Kian Joo Can Factory Bhd with a 54.83% stake as at Feb 27, 2015, expects its operations in Hanoi, Vietnam and Johor to turn around by the end of this year. “We need a longer gestation period fo... ...

China FDI up 2.2 pct in March to $12.4 bn, outbound investment also rises
April 16, 2015 10:40:59 am
BEIJING (Apr 16): China drew $12.4 billion in foreign direct investment (FDI) in March, up 2.2 percent from a year earlier, the Commerce Ministry reported on Thursday, while outbound non-financial investment rose 0.4 percent to $8.39 billion. ... ...

Broadband package fees to drop
April 16, 2015 10:38:40 am
KUALA LUMPUR: Fees for mobile Internet broadband packages will drop an average 14% while basic fixed packages will be lowered by as much as 57%, said the Ministry of Communications and Multimedia Malaysia. In a statement yesterday, M... ...

Asia stocks follow global surge, dollar on defensive
April 16, 2015 10:37:00 am
TOKYO (Apr 16): Most Asian share markets took cues from a global surge in equities and rose on Thursday, while weak U.S. economic data sent the dollar lower. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1 percent. Sout... ...

Tropicana Corp sells stake in Tenaga Kimia
April 16, 2015 10:29:18 am
KUALA LUMPUR: Tropicana Corp Bhd is disposing of its entire 73% stake in Tenaga Kimia Sdn Bhd to Austin Powder Asia Pacific for RM194.7 million cash, which will be used to repay debt and for working capital. The property developer expects t... ...

Mah Sing bags Frost & Sullivan construction industry award
April 16, 2015 10:25:44 am
KUALA LUMPUR: Property developer Mah Sing Group Bhd was honoured with the 2015 Frost & Sullivan Excellence in Growth Building Construction Industry Award at the 2015 Malaysia Excellence Awards banquet held at Mandarin Oriental on Tuesday. ... ...

Pesona Metro bags RM266.75m job
April 16, 2015 10:22:59 am
KUALA LUMPUR: Pesona Metro Holdings Bhd has bagged a RM266.75 million contract from PBT Engineering Sdn Bhd to build a 17-storey office block and two SoHo buildings in Cyberjaya. In a filing with Bursa Malaysia, Pesona Metro (fundamental: 1... ...

KLCI advances 0.36% as select blue chips lift
April 16, 2015 10:22:31 am
KUALA LUMPUR (April 16): The FBM KLCI rose 0.36% at mid-morning today, lifted by gains at select blue chips in line with the uptrend at most regional markets. At 10am, the FBM KLCI rose 6.66 points to 1,846.79. The top gainers includ... ...

AmFIRST REIT’s Mydin mall buy to up DPU
April 16, 2015 10:14:19 am
KUALA LUMPUR: AmFIRST Real Estate Investment Trust (AmFIRST REIT) said the acquisition of Mydin Hypermall in Bukit Mertajam, Penang is expected to help lift the distribution per unit (DPU) by 0.34 sen per unit per year. Am ARA REIT Managers... ...

Azran to helm Catcha’s iflix Malaysia
April 16, 2015 10:12:09 am
KUALA LUMPUR: Former chief executive officer (CEO) of AirAsia X Bhd Azran Osman-Rani is joining Catcha Group’s newest venture — iflix as CEO of its Malaysian operations. He will also hold the post of chief operating officer of iflix group....

Former Sarawak minister named in report on state’s timber corruption
April 16, 2015 10:08:04 am
KUALA LUMPUR (Apr 16): "Forest corruption" in Sarawak has been linked to the expansion plans of a company that is said to be illegally clearing large tracts of rainforest in Peru, according to the Environmental Investigation Agency (EIA), w... ...

AllianceDBS Research upgrades Globetronics to Buy, raises target to RM7.50
April 16, 2015 10:07:37 am
KUALA LUMPUR (April 16): AllianceDBS Research has upgraded Globetronics Technology Bhd to a high-conviction “Buy” (from Hold) at RM5.80 with a higher target price of RM7.50 (from RM5.20) and said the company’s end-customer division likely to intro......

Petronas makes management changes
April 16, 2015 09:59:18 am
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) announced a slew of senior management appointments yesterday. In a statement, Petronas said Md Arif Mahmmod is now the new executive vice-president (VP) and chief executive officer (CEO) of it... ...

Temasek’s Ho says she’s ‘well’ following sabbatical announcement
April 16, 2015 09:58:16 am
SINGAPORE (Apr 16): Ho Ching, chief executive officer of Temasek Holdings Pte, said in a Facebook post that she’s “well” and there shouldn’t be concerns following an announcement Wednesday that she’s taking a three-month sabbatical leave....

PetDag plans RM500m capex
April 16, 2015 09:55:45 am
KUALA LUMPUR: Petronas Dagangan Bhd (PetDag), a 69.86% unit of Petroliam Nasional Bhd (Petronas), has planned a capital expenditure (capex) of RM500 million this year, the same as last year, to spur sales in its retail and commercial segments, sai......

EdgeWiz attracts over 4,000 entries
April 16, 2015 09:53:51 am
KUALA LUMPUR: With just four days to go before the EdgeWiz Campus Investment Challenge starts on April 20, the online stock market competition has attracted over 4,000 participants from about 70 universities and colleges throughout the country....

MBSB: Possible merger within this or next year
April 16, 2015 09:51:26 am
KUALA LUMPUR: While keeping mum on speculation about a merger between Malaysia Building Society Bhd (MBSB) and Bank Islam Malaysia Bhd, MBSB president and chief executive officer Datuk Ahmad Zaini Othman said a merger with an Islamic financ... ...

Penang Umno dares Jho Low to return and explain 1MDB link
April 16, 2015 09:50:18 am
KUALA LUMPUR: Kepala Batas MP Datuk Seri Reezal Merican Naina Merican has issued a challenge to tycoon Low Taek Jho to return to Malaysia and come clean on his relationship with debt-ridden 1Malaysia Development Bhd (1MDB). This comes after... ...

SBC Corp jumps 8% on resurgent buying interest
April 16, 2015 09:48:02 am
KUALA LUMPUR (April 16): Shares of SBC Corporation Bhd rose more than 8% in early trade today on resurgent buying interest. At 9.23am, SBC Corp was up 8.l6% or 8 sen to RM1.06 with 108,410 shares traded. SBC Corp is an investment hol... ...

US crude falls below $56 on weak economic data; Middle East tensions support prices
April 16, 2015 09:41:20 am
SINGAPORE (Apr 16): U.S. crude futures dropped below $56 on Thursday on disappointing U.S. economic data and renewed concerns about global oversupply, but conflict in the Middle East put a floor under prices. FUNDAMENTALS * U.... ...

Malaysia prices dual-tranche $1.5 bln sukuk
April 16, 2015 09:39:42 am
KUALA LUMPUR (Apr 16): The government of Malaysia on Thursday priced a dual-tranche $1.5 billion sukuk after attracting orders of $9.0 billion from Asia, Europe, the Middle East and the United States. The dual tranche 10 and 30-year ... ...

My E.G. gains 1.9% after HLIB Research says stock was oversold
April 16, 2015 09:21:43 am
KUALA LUMPUR (April 16): The shares of My E.G. Services Bhd rose in early trade today after Hong Leong IB Research said the stock had been grossly oversold. At 9.08am, My E.G. rose 1.98% or five sen to RM2.58 with 393,100 shares done. ...

KLCI edges up in early trade in line with regional uptrend
April 16, 2015 09:16:35 am
KUALA LUMPUR (April 16): The FBM KLCI edged up in early today in line with the regional uptrend, lifted by gains at selecvt blue chips. At 9am, the FBM KLCI rose 1.91 points to 1,842.04. The top gainers included British American Toba... ...

Penang proposes ‘Sky Cab’ linking island and mainland
April 16, 2015 09:12:00 am
KUALA LUMPUR: The Penang government is in the final stages of exploration with Penang Sentral Sdn Bhd (PSSB) to build a 3.66km cable car service linking the mainland and island in the next three years. PSSB is a joint venture between Malays... ...

MyEG grossly oversold, says HLIB Research
April 16, 2015 08:43:23 am
KUALA LUMPUR (April 16): The shares of My E.G. Services Bhd have been grossly oversold, according to Hong Leong IB Research. In a note today, the researcgh house said the stock was grossly oversold as substantiated by daily oscillators.... ...

Asia stocks follow global surge, dollar on defensive
April 16, 2015 08:42:17 am
TOKYO (April 16): Asian stocks took cues from a global surge in equities and rose on Thursday, while the dollar was on the defensive after weak U.S. economic data. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.4 perce... ...

Prolonged water issue may cap Supermax’s earnings growth, says AffinHwang Capital
April 16, 2015 08:36:01 am
KUALA LUMPUR (April 16): AffinHwang Capital Research has maintained its “Hold” rating on Supermax Corporation Bhd (SUCB) at RM2.13 with an unchanged target price of RM2.11 and said SUCB’s issues over its utilities supply were likely to limit a re-......

PublicInvest Research cuts target price for TRC Synergy to 43 sen
April 16, 2015 08:32:09 am
KUALA LUMPUR (April 16) PublicInvest Research has maintained its “Neutral” rating on TRC Synergy Bhd (TRC) at 41 sen with a lower target price of 43 sen (from 54 sen) and said TRC, despite earnings weakness in recent years, is believed to see its ......

KLCI seen trending higher as buying sentiment improves
April 16, 2015 07:15:57 am
KUALA LUMPUR (April 16): The FBM KLCI is expected to trend higher today, taking the lead from the higher overnight close at Wall Street amidst improved local buying sentiment. U.S. stocks rallied following several strong earnings reports on... ...

Wall St gains on earnings, oil surges
April 16, 2015 06:53:20 am
NEW YORK (April 16): U.S. stocks rallied following several strong earnings reports on Wednesday, while European shares hit a 14-year high after the European Central Bank affirmed its loose policy stance. Oil rose sharply after U.S. governme... ...

Wall St ends higher as jitters about earnings and oil recede
April 16, 2015 06:50:43 am
(April 16): U.S. stocks closed higher on Wednesday, fueled by gains in oil companies and speculation that upcoming first-quarter earnings reports might not be quite as weak as previously thought. All 10 major S&P 500 sectors gained, wit... ...