The Star Business News
April 28, 2015
Tecnic unaware of reason for sharp rise in share price
April 28, 2015 09:47:00 pm
KUALA LUMPUR: Tecnic Group Bhd said it was not aware of any corporate development or rumour to account for the sharp rise in its share price on Tuesday....
Icon Offshore CEO and COO go on six-month leave
April 28, 2015 08:35:00 pm
KUALA LUMPUR: Icon Offshore Bhd has granted its chief executive officer (CEO) Dr Jamal Yusof and chief operating officer (COO) Rahman Yusof a six-month leave of absence starting April 27....
Japan lawmakers submit casino legalisation bill
April 28, 2015 07:44:00 pm
TOKYO: Japan’s pro-casino lawmakers submitted to parliament on Tuesday a bill to legalise casino gambling, the latest bid to establish an industry analysts say could generate US$40bil (RM142.6bil) a year and which Prime Minister Shinzo Abe sees as ke...
Malaysia’s job advertising volume up 15% in Q1
April 28, 2015 07:25:00 pm
KUALA LUMPUR: Malaysia’s overall annual growth in job advertisement volume increased by 15% in the first quarter of 2015, according to the Asia Job Index published by the international recruitment consultancy, Robert Walters. - Bernama...
Oil falls as US crude stockpiles set for another high
April 28, 2015 07:21:00 pm
LONDON: Oil prices fell on Tuesday ahead of weekly U.S. crude inventory data that is expected to hit another high, withdrawing further from a rally that saw Brent crude futures touch a 4 1/2 month high on Friday....
Petronas Chemicals opens first Thai sales and marketing office
April 28, 2015 07:11:00 pm
KUALA LUMPUR: Petroliam Nasional Bhd’s petrochemical arm, Petronas Chemicals Group Bhd (PCG), has opened a sales and marketing office in Bangkok....
Unisem Q1 profit rises 154% despite losses in US, Europe
April 28, 2015 06:53:00 pm
KUALA LUMPUR: Although its US and Europe segments recorded losses for the first quarter (Q1) ended March 31, Unisem (M) Bhd still managed to grow its net profit by a whopping 154% year-on-year (yoy) thanks to its Asia segment....
Spritzer net profit down 12%
April 28, 2015 06:46:00 pm
KUALA LUMPUR: Spritzer Bhd net profit for the third quarter ended Feb 28, 2015, fell 12.1% to RM5.39mil compared to RM 6.14mil a year ago. ...
KLCI ends Tuesday nearly 5 points lower (Update)
April 28, 2015 06:18:00 pm
KUALA LUMPUR: Malaysia’s blue chips extended their losses on Tuesday with the FBM KLCI down nearly five points but of concern was the weakening broader market as investor sentiment was impacted by softer key markets ahead of the US Federal Reserve po...
JCorp to list RM900mil Islamic REIT in Q3
April 28, 2015 05:34:00 pm
PUTRAJAYA: Johor Corp (JCorp) plans to list its RM900 million Islamic Real Estate Investment Trust (REIT), Al-Salam, on the Main Market of Bursa Malaysia in the third quarter of this year.
Malaysia poised to be Asia's biggest biogas exporter
April 28, 2015 04:03:00 pm
KUALA LUMPUR: Malaysia is expected to be Asia's biggest biogas exporter by 2020 and Asia's biggest biogas hub by 2030, said Science, Techonology and Innovation Minister, Datuk Dr Ewon Ebin....
CIMB Niaga's bottomline to significantly improve in Q2, says Nazir
April 28, 2015 03:59:00 pm
KUALA LUMPUR: CIMB Holdings Bhd expects the bottomline of CIMB Niaga, the group's operations in Indonesia, to significantly improve in the second quarter (Q2)....
Indonesia’s Cipta Srigati Lestari in RTO of Visdynamics
April 28, 2015 02:52:00 pm
KUALA LUMPUR: Indonesia’s IT-solutions providers PT. Cipta Srigati Lestari is undertaking a reverse takeover (RTO) of Visdynamics Holdings Bhd....
China iPhone sales boost Apple; shares up modestly
April 28, 2015 02:43:00 pm
Apple Inc beat Wall Street's revenue and profit forecasts on April 27 as it sold more iPhones in China than the United States for the first time, but the company gave no sales figures for its new Apple Watch....
Pensonic net profit jump 22%
April 28, 2015 02:43:00 pm
KUALA LUMPUR: Pensonic Holdings Bhd’s net profit for the third quarter ended Feb 28, 2015, jumped 22% to RM2.19mil, from RM1.79mil due to overhead cost spending rationalisation implemented by its management. ...
Oil falls more than 1%, US crude stockpiles set for another high
April 28, 2015 02:35:00 pm
SINGAPORE: Oil fell more than 1 percent on Tuesday ahead of weekly U.S. crude inventory data that is expected to hit another high and as Saudi Arabia pledged to supply more oil to China if needed....
Petrobras writedown may give new ammunition to class-action suit
April 28, 2015 02:30:00 pm
WILMINGTON: Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit....
Gas Malaysia partners Sime Darby Offshore
April 28, 2015 02:09:00 pm
KUALA LUMPUR: Gas Malaysia Bhd has partnered with Sime Darby Offshore Engineering Sdn Bhd to undertake a biogas compressed natural gas distribution business extracted from the palm oil mill effluent....
BNM appoints Adhari as Assistant Governor
April 28, 2015 02:01:00 pm
KUALA LUMPUR: Bank Negara Malaysia (BNM) has appointed Mohd Adhari Belal Din as an Assistant Governor effective May 1, 2015....
Bursa Malaysia turns broadly weaker at midday (Update)
April 28, 2015 01:59:00 pm
KUALA LUMPUR: Bursa Malaysia’s market breadth turned broadly lower at midday on the rising number of stocks in the red as the FBM KLCI fell nearly six points, tracking the decline in the key regional markets. ...
CIMB’s Nazir sees lower loan loss provision for Indonesian ops
April 28, 2015 01:41:00 pm
KUALA LUMPUR: CIMB Group Holdings Bhd’s group chairman Datuk Seri Nazir Razak does not expect the loan loss provision from the Indonesian operations to be larger than in the first quarter of 2015....
MIDF upgrades MMHE to Neutral from Sell
April 28, 2015 01:34:00 pm
KUALA LUMPUR: MIDF Research is upgrading its call to ‘neutral’ from ‘sell’ on Malaysia Marine and Heavy Engineering (MMHE) with a target price of RM1.27 per share, based on financial year 2016, price to earnings ratio of 14 times, pegged to earnings ...
Slight risk Malaysia’s current account may turn negative: UBS
April 28, 2015 01:26:00 pm
KUALA LUMPUR: There is a slight risk that Malaysia’s current account may turn negative towards year end or early 2016, says UBS Ltd managing director for global economics Paul Donovan....
Apple profit soars on iPhone, China sales
April 28, 2015 01:11:00 pm
Apple reported a sharp rise in its quarterly profit, lifted by robust sales of its iPhones and a jump in revenue from China....
RAM assigns preliminary P1 rating to CIMB's RM6bil debt notes
April 28, 2015 12:09:00 pm
KUALA LUMPUR: RAM Ratings has assigned a preliminary P1 rating to CIMB Group’s proposed RM6bil conventional and Islamic CP programme....
Tasco, Latitude Tree among top losers
April 28, 2015 12:08:00 pm
UALA LUMPUR: Logistics company Tasco and furniture maker Latitude Tree were among the top losers on Tuesday as investors took profit in the absence of any fresh catalysts....
KKB jumps on solid earnings
April 28, 2015 11:52:00 am
KUALA LUMPUR: Shares of KKB Engineering Bhd jumped at mid-morning on Tuesday after the group's earnings rose more than six-fold to RM26.7mil compared to the same period last year....
AmResearch maintains Hold on Digi
April 28, 2015 10:42:00 am
KUALA LUMPUR: AmResearch has maintained its Hold call on Digi with a fair value of RM6.50, it said in a note on Tuesday....
KLCI under pressure, slips more than 5 points
April 28, 2015 10:42:00 am
KUALA LUMPUR: Selling pressure on the FBM KLCI stocks in early Tuesday trade sent the 30-stock index down more than five points, dragged down by plantations, Petronas Gas, Axiata and Genting Bhd....
AmResearch maintains Buy on KKB Engineering
April 28, 2015 10:37:00 am
KUALA LUMPUR: AmResearch has maintained its Buy on KKB Engineering with a fair value of RM2.05 a share, it said in a note on Tuesday....
Templeton fund ends reign in Asia as top picks falter
April 28, 2015 10:27:00 am
SINGAPORE: Templeton Asian Growth fund, managed by star stock picker Mark Mobius, ended its six-year reign as the biggest equity fund in Asia ex-Japan after suffering a second straight quarter of investor withdrawals and underperforming its benchmark...
US crude oil drops on expected stock build
April 28, 2015 10:26:00 am
SEOUL: US crude oil futures slipped on Tuesday as US commercial crude stocks were expected to rise for a 16th straight week, with comments from Saudi Arabia's oil minister also dragging on prices....
Public Invest Research Neutral on Tenaga
April 28, 2015 10:12:00 am
KUALA LUMPUR: Public Invest Research is maintaining its Neutral outlook for Tenaga Nasional Bhd (TNB) with an unchanged target price of RM14.64....
CIMB Research retains Hold on Maxis
April 28, 2015 09:53:00 am
KUALA LUMPUR: CIMB Equities Research is maintaining its Hold rating on Maxis as it keeps its earnings and dividend per share (DPS) forecasts. ...
CIMB Research retains Hold call on DiGi
April 28, 2015 09:40:00 am
KUALA LUMPUR: CIMB Equities Research is maintaining its Hold rating on DiGi as it believes the telco’s current valuations offer a fair risk-reward profile, given the possibility of more intense competition in FY15....
KLCI to maintain range bound trading
April 28, 2015 09:27:00 am
KUALA LUMPUR: BIMB Securities Research expects the FBM KLCI to be range bound and trade between 1,855 and 1,860 on Tuesday after the weak overnight close on Wall Street....
Euro perks up on Greek hopes, dollar dips
April 28, 2015 09:19:00 am
SYDNEY: The euro hovered just under a three-week peak early on Tuesday, having pushed higher overnight as the dollar came under broad pressure and on renewed hopes that cash-strapped Greece was a step closer to securing fresh funding....
Low yields forcing more risk on retirement system, says RBA
April 28, 2015 09:17:00 am
SYDNEY: Low global yields are forcing savers to take ever more risk to ensure an adequate future income, with people on the cusp of retirement much worse off than those a decade ago, a top Australian central banker said on Tuesday....
Time Warner Cable open to merger talks with Charter
April 28, 2015 09:15:00 am
NEW YORK: Time Warner Cable Inc is open to merger discussions with Charter Communications Inc following a failed $45 billion bid by Comcast Corp, according to people familiar with the matter....
Two out of four independent directors in REDtone tell shareholders to reject takeover offer
April 28, 2015 01:00:00 am
PETALING JAYA: Two out of the four independent directors of REDtone International Bhd have rejected the takeover offer launched by Berjaya Corp Bhd (BCorp) for the telecommunications company, as they feel the offer price of 80 sen a share is too low....
RHB Capital names Khairussaleh CEO and MD
April 28, 2015 01:00:00 am
PETALING JAYA: Banking and financial services group RHB Capital Bhd (RHBCap) has appointed Datuk Khairussaleh Ramli (pic) as chief executive officer and managing director with effect from May 5....
United Plantations Q1 profit down
April 28, 2015 01:00:00 am
PETALING JAYA: United Plantations Bhd recorded a 30% drop in net profit for the first quarter ended March 31, 2015 to RM61.15mil compared to the previous corresponding quarter a year ago due to lower crude palm oil and lower palm kernel prices as wel...
KKB Engineering Q1 profit soars
April 28, 2015 01:00:00 am
PETALING JAYA: Civil engineering firm KKB Engineering Bhd’s net profit for the first quarter ended March 31, 2015 rose more than six-fold to RM26.7mil compared to the same period last year. According to a filing with Bursa Malaysia, the higher profit...
Amanah Harta Tanah PNB to buy Seremban mall for RM240mil
April 28, 2015 01:00:00 am
PETALING JAYA: Real estate investment trust (REIT) Amanah Harta Tanah PNB (AHTP) is proposing to acquire a three-storey mall in Seremban for RM240mil....
Bursa unveils eServices for marketplace
April 28, 2015 01:00:00 am
KUALA LUMPUR: Bursa Malaysia Bhd has launched a new listing information network system, Bursa Link, and an online listing enquiry service, AskListing@Bursa, for the marketplace....
Masteel 2014 financial results filing delayed
April 28, 2015 01:00:00 am
PETALING JAYA: Malaysia Steel Works (KL) Bhd (Masteel) is delaying the filing of its annual accounts as well as the auditors and directors’ report for the financial year ended Dec 31, 2014 (FY14)....
TNB second-quarter earnings jump 25%
April 28, 2015 01:00:00 am
PETALING JAYA: Tenaga Nasional Bhd’s (TNB) net profit for the second quarter ended Feb 28, 2015, jumped 25% to RM2.16bil compared with the previous corresponding period, mainly due to improved electricity sales....
Pesona Metro buying another concession holder
April 28, 2015 01:00:00 am
PETALING JAYA: Construction firm Pesona Metro Holdings Bhd has further entrenched its position in the concession business by entering into a sale of shares agreement with Semarak Korporat Sdn Bhd (SKSB) to acquire a 90% equity stake in Selasih Asli S...
Support Line
April 28, 2015 01:00:00 am
By K.M. LEE..
April 28, 2015 09:47:00 pm
KUALA LUMPUR: Tecnic Group Bhd said it was not aware of any corporate development or rumour to account for the sharp rise in its share price on Tuesday....
April 28, 2015 08:35:00 pm
KUALA LUMPUR: Icon Offshore Bhd has granted its chief executive officer (CEO) Dr Jamal Yusof and chief operating officer (COO) Rahman Yusof a six-month leave of absence starting April 27....
April 28, 2015 07:44:00 pm
TOKYO: Japan’s pro-casino lawmakers submitted to parliament on Tuesday a bill to legalise casino gambling, the latest bid to establish an industry analysts say could generate US$40bil (RM142.6bil) a year and which Prime Minister Shinzo Abe sees as ke...
April 28, 2015 07:25:00 pm
KUALA LUMPUR: Malaysia’s overall annual growth in job advertisement volume increased by 15% in the first quarter of 2015, according to the Asia Job Index published by the international recruitment consultancy, Robert Walters. - Bernama...
April 28, 2015 07:21:00 pm
LONDON: Oil prices fell on Tuesday ahead of weekly U.S. crude inventory data that is expected to hit another high, withdrawing further from a rally that saw Brent crude futures touch a 4 1/2 month high on Friday....
April 28, 2015 07:11:00 pm
KUALA LUMPUR: Petroliam Nasional Bhd’s petrochemical arm, Petronas Chemicals Group Bhd (PCG), has opened a sales and marketing office in Bangkok....
April 28, 2015 06:53:00 pm
KUALA LUMPUR: Although its US and Europe segments recorded losses for the first quarter (Q1) ended March 31, Unisem (M) Bhd still managed to grow its net profit by a whopping 154% year-on-year (yoy) thanks to its Asia segment....
April 28, 2015 06:46:00 pm
KUALA LUMPUR: Spritzer Bhd net profit for the third quarter ended Feb 28, 2015, fell 12.1% to RM5.39mil compared to RM 6.14mil a year ago. ...
April 28, 2015 06:18:00 pm
KUALA LUMPUR: Malaysia’s blue chips extended their losses on Tuesday with the FBM KLCI down nearly five points but of concern was the weakening broader market as investor sentiment was impacted by softer key markets ahead of the US Federal Reserve po...
April 28, 2015 05:34:00 pm
PUTRAJAYA: Johor Corp (JCorp) plans to list its RM900 million Islamic Real Estate Investment Trust (REIT), Al-Salam, on the Main Market of Bursa Malaysia in the third quarter of this year.
April 28, 2015 04:03:00 pm
KUALA LUMPUR: Malaysia is expected to be Asia's biggest biogas exporter by 2020 and Asia's biggest biogas hub by 2030, said Science, Techonology and Innovation Minister, Datuk Dr Ewon Ebin....
April 28, 2015 03:59:00 pm
KUALA LUMPUR: CIMB Holdings Bhd expects the bottomline of CIMB Niaga, the group's operations in Indonesia, to significantly improve in the second quarter (Q2)....
April 28, 2015 02:52:00 pm
KUALA LUMPUR: Indonesia’s IT-solutions providers PT. Cipta Srigati Lestari is undertaking a reverse takeover (RTO) of Visdynamics Holdings Bhd....
April 28, 2015 02:43:00 pm
Apple Inc beat Wall Street's revenue and profit forecasts on April 27 as it sold more iPhones in China than the United States for the first time, but the company gave no sales figures for its new Apple Watch....
April 28, 2015 02:43:00 pm
KUALA LUMPUR: Pensonic Holdings Bhd’s net profit for the third quarter ended Feb 28, 2015, jumped 22% to RM2.19mil, from RM1.79mil due to overhead cost spending rationalisation implemented by its management. ...
April 28, 2015 02:35:00 pm
SINGAPORE: Oil fell more than 1 percent on Tuesday ahead of weekly U.S. crude inventory data that is expected to hit another high and as Saudi Arabia pledged to supply more oil to China if needed....
April 28, 2015 02:30:00 pm
WILMINGTON: Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit....
April 28, 2015 02:09:00 pm
KUALA LUMPUR: Gas Malaysia Bhd has partnered with Sime Darby Offshore Engineering Sdn Bhd to undertake a biogas compressed natural gas distribution business extracted from the palm oil mill effluent....
April 28, 2015 02:01:00 pm
KUALA LUMPUR: Bank Negara Malaysia (BNM) has appointed Mohd Adhari Belal Din as an Assistant Governor effective May 1, 2015....
April 28, 2015 01:59:00 pm
KUALA LUMPUR: Bursa Malaysia’s market breadth turned broadly lower at midday on the rising number of stocks in the red as the FBM KLCI fell nearly six points, tracking the decline in the key regional markets. ...
April 28, 2015 01:41:00 pm
KUALA LUMPUR: CIMB Group Holdings Bhd’s group chairman Datuk Seri Nazir Razak does not expect the loan loss provision from the Indonesian operations to be larger than in the first quarter of 2015....
April 28, 2015 01:34:00 pm
KUALA LUMPUR: MIDF Research is upgrading its call to ‘neutral’ from ‘sell’ on Malaysia Marine and Heavy Engineering (MMHE) with a target price of RM1.27 per share, based on financial year 2016, price to earnings ratio of 14 times, pegged to earnings ...
April 28, 2015 01:26:00 pm
KUALA LUMPUR: There is a slight risk that Malaysia’s current account may turn negative towards year end or early 2016, says UBS Ltd managing director for global economics Paul Donovan....
April 28, 2015 01:11:00 pm
Apple reported a sharp rise in its quarterly profit, lifted by robust sales of its iPhones and a jump in revenue from China....
April 28, 2015 12:09:00 pm
KUALA LUMPUR: RAM Ratings has assigned a preliminary P1 rating to CIMB Group’s proposed RM6bil conventional and Islamic CP programme....
April 28, 2015 12:08:00 pm
UALA LUMPUR: Logistics company Tasco and furniture maker Latitude Tree were among the top losers on Tuesday as investors took profit in the absence of any fresh catalysts....
April 28, 2015 11:52:00 am
KUALA LUMPUR: Shares of KKB Engineering Bhd jumped at mid-morning on Tuesday after the group's earnings rose more than six-fold to RM26.7mil compared to the same period last year....
April 28, 2015 10:42:00 am
KUALA LUMPUR: AmResearch has maintained its Hold call on Digi with a fair value of RM6.50, it said in a note on Tuesday....
April 28, 2015 10:42:00 am
KUALA LUMPUR: Selling pressure on the FBM KLCI stocks in early Tuesday trade sent the 30-stock index down more than five points, dragged down by plantations, Petronas Gas, Axiata and Genting Bhd....
April 28, 2015 10:37:00 am
KUALA LUMPUR: AmResearch has maintained its Buy on KKB Engineering with a fair value of RM2.05 a share, it said in a note on Tuesday....
April 28, 2015 10:27:00 am
SINGAPORE: Templeton Asian Growth fund, managed by star stock picker Mark Mobius, ended its six-year reign as the biggest equity fund in Asia ex-Japan after suffering a second straight quarter of investor withdrawals and underperforming its benchmark...
April 28, 2015 10:26:00 am
SEOUL: US crude oil futures slipped on Tuesday as US commercial crude stocks were expected to rise for a 16th straight week, with comments from Saudi Arabia's oil minister also dragging on prices....
April 28, 2015 10:12:00 am
KUALA LUMPUR: Public Invest Research is maintaining its Neutral outlook for Tenaga Nasional Bhd (TNB) with an unchanged target price of RM14.64....
April 28, 2015 09:53:00 am
KUALA LUMPUR: CIMB Equities Research is maintaining its Hold rating on Maxis as it keeps its earnings and dividend per share (DPS) forecasts. ...
April 28, 2015 09:40:00 am
KUALA LUMPUR: CIMB Equities Research is maintaining its Hold rating on DiGi as it believes the telco’s current valuations offer a fair risk-reward profile, given the possibility of more intense competition in FY15....
April 28, 2015 09:27:00 am
KUALA LUMPUR: BIMB Securities Research expects the FBM KLCI to be range bound and trade between 1,855 and 1,860 on Tuesday after the weak overnight close on Wall Street....
April 28, 2015 09:19:00 am
SYDNEY: The euro hovered just under a three-week peak early on Tuesday, having pushed higher overnight as the dollar came under broad pressure and on renewed hopes that cash-strapped Greece was a step closer to securing fresh funding....
April 28, 2015 09:17:00 am
SYDNEY: Low global yields are forcing savers to take ever more risk to ensure an adequate future income, with people on the cusp of retirement much worse off than those a decade ago, a top Australian central banker said on Tuesday....
April 28, 2015 09:15:00 am
NEW YORK: Time Warner Cable Inc is open to merger discussions with Charter Communications Inc following a failed $45 billion bid by Comcast Corp, according to people familiar with the matter....
April 28, 2015 01:00:00 am
PETALING JAYA: Two out of the four independent directors of REDtone International Bhd have rejected the takeover offer launched by Berjaya Corp Bhd (BCorp) for the telecommunications company, as they feel the offer price of 80 sen a share is too low....
April 28, 2015 01:00:00 am
PETALING JAYA: Banking and financial services group RHB Capital Bhd (RHBCap) has appointed Datuk Khairussaleh Ramli (pic) as chief executive officer and managing director with effect from May 5....
April 28, 2015 01:00:00 am
PETALING JAYA: United Plantations Bhd recorded a 30% drop in net profit for the first quarter ended March 31, 2015 to RM61.15mil compared to the previous corresponding quarter a year ago due to lower crude palm oil and lower palm kernel prices as wel...
April 28, 2015 01:00:00 am
PETALING JAYA: Civil engineering firm KKB Engineering Bhd’s net profit for the first quarter ended March 31, 2015 rose more than six-fold to RM26.7mil compared to the same period last year. According to a filing with Bursa Malaysia, the higher profit...
April 28, 2015 01:00:00 am
PETALING JAYA: Real estate investment trust (REIT) Amanah Harta Tanah PNB (AHTP) is proposing to acquire a three-storey mall in Seremban for RM240mil....
April 28, 2015 01:00:00 am
KUALA LUMPUR: Bursa Malaysia Bhd has launched a new listing information network system, Bursa Link, and an online listing enquiry service, AskListing@Bursa, for the marketplace....
April 28, 2015 01:00:00 am
PETALING JAYA: Malaysia Steel Works (KL) Bhd (Masteel) is delaying the filing of its annual accounts as well as the auditors and directors’ report for the financial year ended Dec 31, 2014 (FY14)....
April 28, 2015 01:00:00 am
PETALING JAYA: Tenaga Nasional Bhd’s (TNB) net profit for the second quarter ended Feb 28, 2015, jumped 25% to RM2.16bil compared with the previous corresponding period, mainly due to improved electricity sales....
April 28, 2015 01:00:00 am
PETALING JAYA: Construction firm Pesona Metro Holdings Bhd has further entrenched its position in the concession business by entering into a sale of shares agreement with Semarak Korporat Sdn Bhd (SKSB) to acquire a 90% equity stake in Selasih Asli S...
April 28, 2015 01:00:00 am
By K.M. LEE..
