The Edge Markets April 27, 2015 08:32:43 am

The Edge Markets April 27, 2015 08:32:43 am

DBE Gurney proposes par value reduction, RCN to raise up to RM50m
April 27, 2015 11:25:00 pm
KUALA LUMPUR (Apr 27): Loss-making poultry farm producer and trader D.B.E. Gurney Resources Bhd (DBE Gurney) announced a proposed par value reduction of 9 sen apiece, amendment to its memorandum of association (MA) to effect the said reduction, an......

Nepal scrambles to organise quake relief, many flee capital
April 27, 2015 11:24:21 pm
KATHMANDU, Nepal/NEW DELHI/MUMBAI/BEIJING (April 27): Nepalese officials scrambled on Monday to get aid from the main airport to people left homeless and hungry by a devastating earthquake two days earlier, while thousands tired of waiting fled th......

Google looks to buy patents in experiment to lessen lawsuits
April 27, 2015 11:13:07 pm
WASHINGTON (April 27): The largest Internet search company said it’s taking applications next month from patent owners willing to sell. After reviewing submissions, Google will pick the patents it wants, negotiate a sale and shell out the money by......

Election Commission partisan in disallowing Anwar’s vote, says Nurul Izzah
April 27, 2015 11:08:39 pm
(April 27): The Election Commission's (EC) decision not to let Datuk Seri Anwar Ibrahim vote in the Permatang Pauh by-election is proof of its bias, PKR vice-president Nurul Izzah Anwar said today. The Lembah Pantai MP, who is also the oppo... ...

Najib always approachable for discussion, says former minister
April 27, 2015 11:07:51 pm
(April 27): Former prime minister Tun Dr Mahathir Mohamad should meet and talk to Prime Minister Datuk Seri Najib Razak before publicly criticising the latter, former MIC president Datuk Seri S. Samy Vellu told Bernama. He said tha... ...

Bar Petronas execs from entering Sarawak to end royalty impasse, state DAP tells Adenan
April 27, 2015 11:05:48 pm
(April 27): Sarawak DAP chief today suggested that Chief Minister Tan Sri Adenan Satem to use the state's immigration powers to bar Petronas executives and managers from entering the state to break the deadlock on demand for an increase in oil and......

Dr M should name Ku Li as next PM, says former law minister
April 27, 2015 11:00:52 pm
(April 27): Tun Dr Mahathir Mohamad should name Umno veteran Tan Sri Tengku Razaleigh Hamzah as his choice for the next prime minister, if he truly wants to save Umno, a former minister has said. By naming Tengku Razaleigh, popularly known ... ...

Gold climbs back above $1,180/oz as focus shifts to Fed meeting
April 27, 2015 10:52:51 pm
LONDON/SINGAPORE (April 27): Gold rose back above $1,185 an ounce on Monday, recovering from the previous session's five-week low, as investors awaited the Federal Reserve's policy meeting later this week for clues on the timing of a U.S. rate inc......

PetroChina's profit falls to lowest on record as oil declines
April 27, 2015 10:51:44 pm
HONG KONG (April 27): PetroChina Co. posted a greater-than-expected 82 percent decline in first-quarter profit to the lowest on record, as lower oil prices took a toll on earnings. Net income at China’s biggest oil and gas producer fell to ... ...

Indonesia plans to trim CPO export tax rates to offset burden of levies
April 27, 2015 10:49:31 pm
JAKARTA/KUALA LUMPUR (April 27): Indonesia, the world's top palm grower, plans to reduce its crude palm oil (CPO) export tax to help offset the cost to companies of a plan to impose separate export levies, a senior Finance Ministry official said o......

Dollar edges higher as markets await Fed meeting
April 27, 2015 10:46:19 pm
NEW YORK/LONDON (April 27): The dollar firmed on Monday, recovering from recent losses in the wake of some weak U.S. economic data, but gains are expected to be contained ahead of the Federal Reserve's key monetary policy meeting this week. ...

Brent crude steadies above $65 as U.S. rig count offsets strong dollar
April 27, 2015 10:37:06 pm
LONDON/SINGAPORE (April 27): Brent crude reversed early losses to steady above $65 on Monday, as signs that U.S. shale output may have started to decline offset the effects of a strong dollar. The number of active U.S. rigs drilling for oil... ...

Wall St opens up, Nasdaq closer to record ahead of Apple earnings
April 27, 2015 10:35:18 pm
(April 27): Wall Street was higher at the open on Monday and the Nasdaq inched closer to its record intraday high, ahead of Apple's results after the close. Investors this week will also be closely watching the results of the two-day U.S. F... ...

Slow clean-up, aid stirs anger in quake-hit Nepal
April 27, 2015 10:29:11 pm
KATHMANDU/NEW DELHI/MUMBAI (April 27): As Nepalis prepared to spend a third night in the open after Saturday's earthquake, anger began to emerge at the slow pace of recovery, with government officials in disarray and aid workers struggling to move......

Pesona Metro, UP, Borneo Oil, TNB, Masteel, REDtone, BCorp, Sasbadi and Amanah Harta Tanah PNB
April 27, 2015 10:22:32 pm
KUALA LUMPUR (April 27): Based on corporate announcements and newsflows today, the companies that may be in focus tomorrow (Tuesday, April 28) could include: Pesona Metro, United Plantations (UP), Borneo Oil, TNB, Masteel, REDtone, BCorp, S... ...

Asia Bioenergy and parties extend key HOA for O&G foray by another 3 months
April 27, 2015 09:54:20 pm
KUALA LUMPUR (April 27): Asia Bioenergy Technologies Bhd’s Heads of Agreement (HOA) with Singapore’s Hoe Leong Corporation Ltd (HLCL) and Reachmont Logistics Sdn Bhd (RLSB) for the acquisition of Semua Shipping Sdn Bhd (SSSB) and Semado Maritime S......

QL board members emerge as Sunsuria's substantial shareholders
April 27, 2015 09:43:30 pm
KUALA LUMPUR (April 27): QL Resources Bhd’s founder and group managing director Chia Song Kun has emerged as the substantial shareholder of property developer Sunsuria Bhd. Based on a filing with Bursa Malaysia, a company linked to Song Kun... ...

Brent crude slips to $65 as dollar strengthens
April 27, 2015 09:21:32 pm
LONDON/SINGAPORE (April 27): Brent crude slipped to around $65 on Monday as the dollar strengthened, but a further sign that U.S. shale output may have started to decline put a floor under prices. The dollar rose 0.3 percent against a baske... ...

New quake felt in northeast India, strength 5.1 - USGS
April 27, 2015 09:18:11 pm
PATNA, India (April 27): Tremors shook northeast India on Monday, three days after a severe earthquake caused devastation in neighbouring Nepal, sending residents rushing out of their homes fearing for their safety. The U.S. Geological Surv... ...

TOCOM surges to one-month high on Shanghai jump
April 27, 2015 09:06:52 pm
TOKYO (April 27): Benchmark Tokyo rubber futures surged to a one-month high on Monday, following a jump in Shanghai futures which were boosted by a flurry of buys from local brokerages and plans by top rubber producers in Asia to boost prices, dea......

Masteel expects delay in submission of audited FY14 accounts
April 27, 2015 09:05:55 pm
KUALA LUMPUR (April 27): Malaysia Steel Works KL Bhd (Masteel) — which manufactures and sells high-tensile steel bars, mild steel bars and prime steel billets — announced it will delay the issuance of its audited financial statements for the finan......

World shares hit new high, Europe shrugs off Greece worry
April 27, 2015 08:56:28 pm
LONDON/TOKYO (April 27): World shares hit a new high on Monday, with European stocks joining the rally after early falls, as investors looked ahead to central bank meetings this week and put aside worries over Greece. The dollar edged up bu... ...

Amanah Harta Tanah PNB buys Mydin's Seremban mall and land
April 27, 2015 08:46:55 pm
KUALA LUMPUR (April 27): Amanah Harta Tanah PNB (AHP) is acquiring a 13.39 acre piece of land in Seremban with a three-storey mall cum hypermarket and two sub-basements for RM240 million, from Mydin Mohamed Holdings Bhd. Based on a filing w... ...

Ancom Logistics proposes private placement to raise funds for working capital
April 27, 2015 08:39:42 pm
KUALA LUMPUR (April 27): ACE-listed Ancom Logistics Bhd which provides bulk storage facilities for liquid chemicals, has proposed a private placement of up to 10% of its issued and paid-up capital to third party investors to be identified later, t......

Futures up ahead of Apple earnings, Fed meeting later this week
April 27, 2015 08:36:40 pm
(April 27): U.S. stock index futures were up slightly on Monday after the Nasdaq Composite and S&P 500 chalked up record high closes on Friday, and ahead of Apple's results after the close. Investors this week will also be closely watch... ...

Code of conduct important to starve off crises in financial services -AmBank chairman
April 27, 2015 08:25:30 pm
KUALA LUMPUR (April 27): Ethical professionalism must be adhered to in Malaysia’s financial services industry in order to stave off crises such as the subprime crisis in the United States, said AmBank Group chairman Tan Sri Azman Hashim. In... ...

All eyes on Fed as dollar halt reaches 7 weeks
April 27, 2015 08:21:41 pm
LONDON/TOKYO (April 27): The dollar steadied in the lower half of an increasingly intransigent range on Monday, recovering from another round of disappointing data last week that undermined expectations of a rise in U.S. interest rates. The... ...

Nakamichi delays submission of FY14 accounts
April 27, 2015 08:15:03 pm
KUALA LUMPUR (April 27): Timber and consumer electronics company Nakamichi Corp Bhd announced it is unable to furnish its audited financial account for the financial year ended Dec 31, 2014 (FY14), as it has yet to receive the management accounts ......

Europe shares bounce as optimism on Greece wins out
April 27, 2015 08:12:30 pm
LONDON (April 27): European shares reversed earlier losses and posted gains during midday trading on Monday, with persistent concerns about Greece's debt situation offset by optimism that a reshuffled Greek negotiating team would help matters.... ...

Sasbadi reports 2Q net profit of RM8.34m
April 27, 2015 08:02:34 pm
KUALA LUMPUR (April 27): Book publisher Sasbadi Holdings Bhd posted a net profit of RM8.34 million or 6.56 sen per share in the second quarter ended Feb 28, 2015 (2QFY15), on revenue of RM32.11 million. Sasbadi said it could not provide com... ...

Pesona Metro to buy 90% of potential concessionaire Selasih Asli for RM60m
April 27, 2015 07:54:44 pm
KUALA LUMPUR (April 27): Construction firm Pesona Metro Holdings Bhd (Pesona Metro) is planning on acquiring a 90% equity interest in Selasih Asli Sdn Bhd (SASB), the potential concessionaire for the development and maintenance of student hostels ......

Sarawak Oil Palms to get RM6.5m deposit back from aborted RPT deal
April 27, 2015 07:45:32 pm
KUALA LUMPUR (Apr 27): Sarawak Oil Palms Bhd (SOPB) will get a RM6.5 million deposit back after its proposed acquisition to buy a 60% stake in DD Pelita Sebungan Plantation Sdn Bhd and Mutiara Pelita Genaan Plantation Sdn Bhd from Double Dynasty S......

UP's 1Q net profit down 30% on lower CPO, PK prices
April 27, 2015 07:43:46 pm
KUALA LUMPUR (April 27): United Plantations Bhd (UP) saw its net profit decline 30.43% to RM61.15 million in the first quarter ended Dec 31, 2015 (1QFY15), compared to RM87.75 million in the previous corresponding quarter, due to lower prices of c......

Bursa Malaysia launches listing e-services for the marketplace
April 27, 2015 07:28:27 pm
KUALA LUMPUR (April 27): Malaysia’s stock exchange operator Bursa Malaysia Bhd announced today that it has launched its new Listing Information Network System (Bursa LINK) and an online listing enquiry service named ...

Khairussaleh to be RHBCap’s new CEO, MD from May 5
April 27, 2015 07:27:11 pm
KUALA LUMPUR (April 27): RHB Capital Bhd (RHBCap) said Datuk Khairussaleh Ramli, 46, will be its new chief executive officer (CEO) and managing director (MD) and group CEO and group MD of the RHB Banking Group, from May 5, 2015. In a... ...

China plans mergers to cut number of big state firms to 40 - state media
April 27, 2015 07:12:25 pm
BEIJING (Apr 27): China will likely cut the number of its central government-owned conglomerates to 40 through a series of mergers, as Beijing pushes forward a plan to overhaul the country's underperforming state sector, state media reported on Mo......

TNB 2Q net profit up 24.4% on lower generation costs
April 27, 2015 07:09:16 pm
KUALA LUMPUR (Apr 27): Tenaga Nasional Bhd (TNB) saw its net profit for the second financial quarter ended Feb 28, 2015 (2QFY15) rise 24.4% to RM2.16 billion from RM1.73 billion a year ago, on lower generation costs due to lower coal price ... ...

Most retreat; Indonesia posts worst drop since August 2013
April 27, 2015 07:06:03 pm
BANGKOK (Apr 27): Most Southeast Asian stock markets retreated on Monday in rangebound trade on foreign investors-led selling, with the Indonesian benchmark nearly oversold amid earnings concerns, while Thai banks fell ahead of an interest rate de......

Borneo Oil to raise at least RM223.39m to expand gold mining ops
April 27, 2015 07:01:49 pm
KUALA LUMPUR (Apr 27): Sabah-based fast food operator and energy outfit Borneo Oil Bhd has proposed a 1-for-6 renounceable rights issue of up to 2.374 billion shares at an indicative issue price of 10 sen per share, together with 1-for-2 free deta......

Ge-Shen Corp sees 14.3% shares crossed off-market
April 27, 2015 06:57:33 pm
KUALA LUMPUR (Apr 27): Ge-Shen Corp Bhd, which manufactures plastic moulded products, saw 11 milllion of its shares, representing a 14.3% stake in the company, crossed off-market today. According to Bloomberg, the shares were moved in one b... ...

China maritime tensions dominate Southeast Asia summit
April 27, 2015 06:38:50 pm
KUALA LUMPUR (Apr 27): Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines drew the ire of Beijing which called its objections to the......

Palm falls to near 2-week low, stronger ringgit offsets firm demand
April 27, 2015 06:38:50 pm
KUALA LUMPUR (Apr 27): Malaysian palm oil futures fell to their lowest in nearly two weeks on Monday, stretching losses into a fourth day as a modest...

Gold climbs back above $1,180/oz as European stocks wilt
April 27, 2015 06:28:57 pm
LONDON (Apr 27): Gold edged back above $1,180 an ounce on Monday, recovering from the previous session's five-week low, as lingering concerns over Greece pressured European stocks, curbing a broad-based rally in equity markets. Investors ar... ...

Deflation? Oil's 45 pct rebound could be markets' next headache
April 27, 2015 06:22:28 pm
LONDON (Apr 27): Whisper it, but the next challenge for financial markets and policymakers may not be deflation, but the remarkable surge in oil prices from the six-year low touched in January. Since then, Brent crude futures have risen 45 ... ...

Canon Q1 profit drops as compact camera demand collapses
April 27, 2015 06:15:13 pm
TOKYO (Apr 27): Japan's Canon Inc reported first-quarter net profit that fell by almost a third on Monday, grossly undershooting expectations, citing a collapse in demand for compact digital cameras. Profit at the world's largest camera mak... ...

TNB 2Q net profit up 24.4%
April 27, 2015 06:14:16 pm
Flash: TNB 2Q net profit up 24.4% ...

Desperate Nepalis flee capital as aftershocks spread fear
April 27, 2015 06:06:59 pm
BHAKTAPUR, Nepal (Apr 27): Thousands of Nepalis began fleeing the capital Kathmandu on Monday, terror-stricken by two days of powerful aftershocks and looming shortages of food and water after an earthquake that killed more than 3,700 people. ... ...

Brent crude falls below $65 as dollar strengthens
April 27, 2015 05:58:57 pm
LONDON (Apr 27): Brent crude reversed early gains to fall below $65 on Monday as the dollar strengthened, offsetting signs that U.S. shale output may have started to decline and concerns that fighting in Yemen could disrupt Middle East supplies....

Australia pleads for stay in executions, demands Jakarta probe
April 27, 2015 05:57:22 pm
SYDNEY/JAKARTA (Apr 27): Australia made a last-minute plea on Monday for a stay in the imminent execution of two Australian drug traffickers in Indonesia, saying reports that their trial had been tainted by corruption needed to be investigated....

KLCI down on profit taking, plantation shares
April 27, 2015 05:37:02 pm
KUALA LUMPUR (Apr 27): The FBM KLCI fell three points or 0.16% on profit taking and plantation share losses. The KLCI ended at 1,859.58 at 5pm today as plantation shares like Kuala Lumpur Kepong Bhd and Sime Darby Bhd fell. Plantatio... ...

After minimum wage talks fail, workers union places last hope in Najib
April 27, 2015 05:29:10 pm
(April 27): Upset that the National Wages Consultative Council could not come to a consensus on a new minimum wage for private sector employees, the Malaysian Trades Union Congress (MTUC) is banking on Prime Minister Datuk Seri Najib Razak to fix ......

Singapore's Sembcorp Marine Q1 profit falls 13.6 pct
April 27, 2015 05:27:29 pm
SINGAPORE (Apr 27): Singapore-based rig builder Sembcorp Marine Ltd said on Monday its first-quarter net profit dropped 13.6 percent on the year to S$105.9 million ($79.5 million), hit by lower contribution from rig building and repair projects....

Rubber jumps most in nine months as global glut seen shrinking
April 27, 2015 05:25:13 pm
(Apr 27): Rubber jumped the most in nine months as shrinking stockpiles in China and steps by the biggest producers to curb supplies bolstered speculation a global glut will dissipate. The commodity surged 5.5 percent on the Shanghai Future... ...

DAP won’t let up on 1MDB, says Guan Eng
April 27, 2015 05:22:47 pm
(April 27): DAP said last night that it would continue to seek answers on pressing issues like state investment vehicle 1Malaysia Development Berhad (1MDB), even though it might be dragged to court over it. Secretary-general Lim Guan Eng sa... ...

Berlin knew Ukraine flight dangers before MH17 crash, German media reports
April 27, 2015 05:19:13 pm
(April 27): Berlin knew the risks of flying over war-torn east Ukraine before Malaysia Airlines flight MH17 was shot out of the sky last year but did not inform German airlines, German media reported yesterday. Investigators are still tryin... ...

LME plans to speed up warehouse deliveries to cut metal backlog
April 27, 2015 05:10:51 pm
(Apr 27): The London Metal Exchange plans to cut delivery backlogs by requiring some warehouses to withdraw metal twice as fast. A gauge used to determine how much metal a warehouse must release will be doubled in August, according to a sta... ...

Brent crude holds above $65 on U.S. rig count, Yemen
April 27, 2015 05:10:45 pm
LONDON (Apr 27): Brent crude prices steadied above $65 a barrel on Monday, supported by signs that U.S. shale output may have started to decline and concerns that fighting in Yemen could disrupt Middle East supplies. The number of active U.... ...

Anwar has no right to vote in Permatang Pauh by-election, says EC
April 27, 2015 05:08:28 pm
(April 27): Datuk Seri Anwar Ibrahim is not qualifed to vote in the Permatang Pauh by-election on May 7, said Election Commission (EC) chairman Tan Sri Abdul Aziz Mohd Yusof. Aziz said that the Federal Constitution did not allow for the jai... ...

Anwar to seek review of Federal Court’s guilty verdict for sodomy
April 27, 2015 05:07:30 pm
(April 27): Datuk Seri Anwar Ibrahim, who has begun serving a five-year jail term for sodomising his former aide, will apply for a review of the Federal Court's decision to uphold his guilty verdict. Lawyer Latheefa Koya, a member of the op... ...

Penang declares Permatang Pauh polling day a state holiday
April 27, 2015 05:06:57 pm
(April 27): Penang has declared May 7, the Permatang Pauh by-election polling day, a state holiday. Chief Minister Lim Guan Eng said the state executive council had made the decision and an announcement would be made by the state government... ...

Petrobras overhaul calls for much more than corruption clean-up
April 27, 2015 05:02:23 pm
RIO DE JANEIRO (Apr 24): Petrobras' decision to take a massive $17 billion write-down to account for overvalued assets and corruption-related costs is only the start of a broad overhaul needed to revive Brazil's troubled state-owned oil company....

Putrajaya fails to stop Rafizi’s application to challenge legality of banking law
April 27, 2015 04:59:45 pm
(April 27): Putrajaya has failed in its bid to stop an application by Pandan MP Rafizi Ramli to challenge the constitutionality of the repealed Banking and Financial Insitutions Act (Bafia). The Shah Alam Sessions Court today ruled t... ...

Asean to keep non-confrontational approach on South China Sea
April 27, 2015 04:57:39 pm
(Apr 27): Southeast Asian nations will keep a non- confrontational approach with China over the South China Sea while seeking an “expeditious resolution” of a Code of Conduct for the waterway, Malaysian Prime Minister Najib Razak said. The ... ...

'Smaller and simpler' mantra rings through banking boardrooms
April 27, 2015 04:56:29 pm
LONDON (Apr 27): Deutsche Bank's plan to jettison much of its German retail bank and withdraw from one in ten countries sees it join a growing list of banks choosing to shrink and simplify to survive. The benefits of size and reach, for yea... ...

Najib may be hit by Malay tsunami in next election, says ex-minister
April 27, 2015 04:53:38 pm
(April 27): With public confidence in him at an all-time low, Prime Minister Datuk Seri Najib Razak may face a Malay tsunami in the 14th general election, former information minister Tan Sri Zainuddin Maidin (pic, below) said. He said Malay... ...

Husam suggests no-confidence motion against Najib in next Parliament sitting
April 27, 2015 04:46:32 pm
(April 27): PAS vice-president Datuk Husam Musa today proposed a no-confidence motion against Datuk Seri Najib Razak when Parliament commences in May, in view of the way the prime minister has been handling the 1Malaysia Development Berhad (1MDB) ......

World shares hit new high but Europe rally fades on Greece
April 27, 2015 04:41:42 pm
LONDON (Apr 27): World shares hit a new high on Monday, led by China, though the global rally faded in Europe as investors looked ahead to central bank meetings in the United States and worried over Greece. The dollar edged up but held clos... ...

Umno seniors moving against 1MDB, says veteran journalist
April 27, 2015 04:40:48 pm
(April 27): PKR is crying foul over material used in the Permatang Pauh by-election that it says are aimed at driving the party and its ally PAS apart in their campaign for the seat. Pictures have been circulating showing PKR preside... ...

Hong Kong stock up on HSBC, state firm merger hopes
April 27, 2015 04:28:05 pm
(Apr 27): Hong Kong stocks advanced to fresh seven-year highs on Monday, led by Chinese state-owned giants on expectations that Beijing will accelerate mergers among state-owned enterprises (SOEs). China will likely cut the number of its ce... ...

Badminton-Lee handed backdated eight-month ban for doping
April 27, 2015 04:19:00 pm
KUALA LUMPUR (Apr 27): Malaysian shuttler Lee Chong Wei was a relieved man on Monday after being handed a backdated eight-month ban for doping by the Badminton World Federation, leaving him free to go for gold at the Rio Olympics next year.... ...

ECB seen going all the way on QE as economists doubt taper
April 27, 2015 04:17:52 pm
(Apr 27): The European Central Bank won’t end its asset-buying program early, though it might do so abruptly, economists say. More than two-thirds of respondents in a Bloomberg survey said the ECB will stop quantitative easing in September ... ...

Willowglen up 3% after Edge FD reports on potential acquisition
April 27, 2015 04:17:48 pm
KUALA LUMPUR (April 27): Willowglen MSC Bhd rose as much as 3% after The Edge Financial Daily (Edge FD) reported the remote-monitoring specialist was looking to buy a global company in a related field. Edge FD, quoting Willowglen (fundament... ...

All eyes on Fed as dollar halt reaches 7 weeks
April 27, 2015 04:06:37 pm
LONDON (Apr 27): The dollar steadied in the lower half of an increasingly intransigent range on Monday, after sliding late last week following another round of disappointing U.S. economic data. The run of poor numbers -- put down by most ec... ...

Desperate Nepalis flee capital as aftershocks spread fear
April 27, 2015 04:00:23 pm
BHAKTAPUR, Nepal (Apr 27): Thousands of Nepalis began fleeing the capital Kathmandu on Monday, terror-stricken by two days of powerful aftershocks and fearing shortages of food and water after an earthquake that killed more than 3,200 people. ... ...

MHB's 1Q net profit up 4.03% on-year to RM36m
April 27, 2015 03:59:08 pm
KUALA LUMPUR (April 27): Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) saw its net profit rise 4.03% in the first financial quarter ended Mar 31, 2015 (1QFY15) to RM36.03 million, from RM34.63 million a year ago, on higher marine operat......

Greek yields rise after creditors give Athens cold shoulder
April 27, 2015 03:54:00 pm
LONDON (Apr 27): Greek bond yields edged higher on Monday as investors reacted to fruitless debt relief talks between euro zone finance ministers on Friday which only served to highlight the gulf between Athens and its creditors. As the cou... ...

Gold struggles below $1,200 on strong equities; Fed meet eyed
April 27, 2015 03:52:44 pm
SINGAPORE (Apr 27): Gold was languishing near its lowest in five weeks on Monday, as robust equities dented its appeal as a safe-haven, with investors also focusing on the Federal Reserve's policy meeting this week for clues on the timing of a U.S......

BCorp offer for REDtone 'fair and reasonable', says independent adviser
April 27, 2015 03:42:48 pm
KUALA LUMPUR (Apr 27): Berjaya Corp Bhd (BCorp)’s takeover offer for telecommunication player REDtone International Bhd at 80 sen per share is deemed “fair and reasonable” even though it is lower than the current market price of REDtone shares, ac......

Badminton-Lee handed backdated eight-month ban for doping
April 27, 2015 03:37:54 pm
KUALA LUMPUR (Apr 27): Malaysian shuttler Lee Chong Wei was handed a backdated eight-month ban for doping by the Badminton World Federation on Monday, keeping alive the former world number one's dream of winning gold at the Rio Olympics nex... ...

China stocks at 7-yr peaks on stimulus hopes, focus on central bks
April 27, 2015 03:36:29 pm
TOKYO (Apr 27): A rally in Chinese stocks led Asian equities to 7-year highs thanks to expectations of more stimulus from Beijing with stellar earnings from a few U.S. hi-tech giants further underpinning a broadly positive mood. Some market... ...

Malaysia can go bankrupt if Dr M’s warnings on 1MDB ignored, says Mat Taib
April 27, 2015 03:14:52 pm
(April 27): Malaysia could go bankrupt if Umno continues to ignore Tun Dr Mahathir Mohamad's warnings on the debt-laden 1Malaysia Development Berhad (1MDB), said former Umno vice-president Tan Sri Muhammad Muhd Taib. Muhammad said th... ...

Maxis' 1Q revenue up 1.4%, declares 5 sen dividend
April 27, 2015 03:04:26 pm
KUALA LUMPUR (April 27): Maxis Bhd said it registered solid subscriber growth and enhanced data usage in its first quarter ended March 31, 2015 (1QFY15), with a 1.4% increase in its revenue to RM2.15 billion, from RM2.12 billion a year earl... ...

KL-Singapore high-speed rail may miss 2020 deadline, says report
April 27, 2015 03:02:31 pm
(April 27): The multi-billion ringgit high-speed rail link between Kuala Lumpur and Singapore is expected to miss its 2020 deadline by two years, Singapore's Business Times reported today. Citing unnamed sources, the busines... ...

MHB 1Q net profit up 4% to RM36.03m on higher revenue
April 27, 2015 03:02:16 pm
Flash: MHB 1Q net profit up 4% to RM36.03m on higher revenue ...

Brent crude holds near 4-1/2 mth high on US rig count, Yemen
April 27, 2015 02:41:32 pm
SINGAPORE (Apr 27): Brent crude prices held near a 4-1/2 month high above $65 a barrel on Monday, supported by concerns over fighting in Yemen disrupting Middle East supplies and signs that U.S. shale output may have started to decline. The... ...

IJM Land, S'pore firm to develop RM3b mixed-use project in Penang
April 27, 2015 02:40:16 pm
KUALA LUMPUR (Apr 27): IJM Land Bhd, the property development arm of IJM Corp Bhd (fundamental: 1.1; valuation: 1.4), has teamed up with Singapore-based Perennial Real Estate Holdings Ltd (PREH) to acquire and develop a 32.76-acre parcel of... ...

Most up slightly; Indonesia falls on earnings
April 27, 2015 02:36:25 pm
BANGKOK (Apr 27): Most Southeast Asian stock markets eked out gains on Monday as investors awaited major central bank meetings this week, but the Indonesian index hit a two-and-half-month low after Astra Agro Lestari's disappointing earnings and B......

Anwar’s wife stands by her man again in fight for Malaysia seat
April 27, 2015 02:36:08 pm
(Apr 27): More than fifteen years after Wan Azizah Wan Ismail first ran for her jailed husband’s parliamentary seat in the Malaysian island state of Penang, she is back in the constituency looking for votes. Just like November 1999, ... ...

DiGi 1Q net profit decreases to RM479m, revenue up
April 27, 2015 02:31:38 pm
KUALA LUMPUR (Apr 27): DiGi.Com Bhd posted a 1% decrease in first quarter net profit to RM479.22 million from a year earlier on foreign exchange losses besides higher depreciation and amortisation. Mobile telecommunication network op... ...

IJM Land, S'pore firm to develop RM3b mixed-use project in Penang
April 27, 2015 02:21:12 pm
Flash: IJM Land, S'pore firm to develop RM3b mixed-use project in Penang ...

Palm falls to near 2-wk low, stronger ringgit offsets firm demand
April 27, 2015 02:11:45 pm
KUALA LUMPUR (Apr 27): Malaysian palm oil futures fell to their lowest in nearly two weeks on Monday, heading towards their fourth straight session of losses as a modest pick-up in export demand was offset by strength in the ringgit and lingering ......

Carimin to bid for O&G jobs in Middle East via collaboration agreement
April 27, 2015 01:49:23 pm
KUALA LUMPUR (Apr 27): Offshore oil and gas support services provider Carimin Petroleum Bhd has entered into a collaboration agreement (COA) with Makamin Offshore Saudi Ltd Company (MOS) and Petro Allied International DMCEST (PAI) to explore oppor......

Maxis 1Q net profit falls 15% yoy to RM410m, pays 5 sen / share dividend
April 27, 2015 01:40:50 pm
Maxis 1Q net profit falls 15% yoy to RM410m, pays 5 sen / share dividend   ...

Malaysia can go bankrupt if Dr M’s warnings on 1MDB ignored, says Mat Taib
April 27, 2015 01:36:21 pm
(Apr 27): Malaysia could go bankrupt if Umno continues to ignore Tun Dr Mahathir Mohamad's warnings on the debt-laden 1Malaysia Development Berhad (1MDB), said former Umno vice-president Tan Sri Muhammad Muhd Taib. Muhammad said this was po... ...

Weak U.S. data lifts Asia FX; stock inflows power Taiwan dlr, won
April 27, 2015 01:33:05 pm
SINGAPORE (Apr 27): Most emerging Asian currencies rose on Monday as a run of  dismal U.S. economic data built a solid case against the Federal Reserve rushing to raise interest rates soon, helping the region maintain the appeal of higher yields....

Techfast, Scan Associates, Muhibbah, Acoustech, Cam Resources, AE Multi, Emas Kiara, Magna Prima
April 27, 2015 01:17:53 pm
KUALA LUMPUR (Apr 27): theedgemarkets.com has highlighted eight stocks with momentum at Bursa Malaysia's afternoon market close today. One of the stocks shows positive momentum while seven show negative momentum. The stock with posit... ...

Corruption allegations over Bali Nine trial sets Australia-Indonesia row
April 27, 2015 01:11:42 pm
SYDNEY/JAKARTA (Apr 27): Australia made a last-minute plea on Monday for a stay in the imminent execution of two Australian drug traffickers in Indonesia, saying that reports their trial had been tainted by corruption needed to be investigated....

ASEAN draft statement says Sth China Sea land reclamation risks security
April 27, 2015 01:09:51 pm
KUALA LUMPUR (Apr 27): ASEAN host Malaysia is set to give in to pressure from some neighbours and address the sensitive issue of land reclamations in the South China Sea with a draft summit statement saying such action may undermine peace, securit......

DiGi 1Q net profit lower at RM479m yoy, pays 6.1 sen / share dividend
April 27, 2015 01:08:52 pm
DiGi 1Q net profit lower at RM479m yoy, pays 6.1 sen / share dividend     ...

Compugates actively traded on exclusive sale, cutting agreement inked last Friday
April 27, 2015 01:02:42 pm
KUALA LUMPUR (Apr 27): Loss-making consumer electronics and agriculture outfit Compugates Holdings Bhd was the most actively traded stock on Bursa Malaysia this morning, with 44.41 million shares changing hands. The stock rose as hig... ...

KLCI pares gains on mild profit taking
April 27, 2015 01:00:14 pm
KUALA LUMPUR (Apr 27): The FBM KLCI pared some of its gains at the midday break as some mild profit taking limited the uptrend at the local market today. At 12.30pm, the FBM KLCI was up 0.29 points to 1,862.87. The index had earlier ... ...

Redtone take-over offer fair and reasonable - independent adviser
April 27, 2015 12:53:14 pm
Redtone take-over offer fair and reasonable - independent adviser   ...

Desperate Nepalis flee capital as aftershocks spread fear
April 27, 2015 12:47:31 pm
KATHMANDU (Apr 27): Hundreds of Nepalis were fleeing the capital Kathmandu for the plains on Monday, terror-stricken by two days of powerful aftershocks following a massive earthquake that killed more than 3,200 people and faced with shortages of ......

HSBC jumps most since ’11 after retail spinoff plan reported
April 27, 2015 12:45:38 pm
(Apr 27): HSBC Holdings Plc’s shares jumped the most since 2011 in Hong Kong after a newspaper reported that the lender may spin off its U.K. retail bank and the company earlier pledged to review its domicile. Shares of HSBC, Europe’s large... ...

Corruption allegations raise doubts about Indonesian trials of Australians on death row - FM
April 27, 2015 12:37:18 pm
SYDNEY (Apr 27): Australia called for an urgent investigation on Monday into reports alleging two Australian drug traffickers were sentenced to death in an Indonesian trial tainted by corruption. Foreign Minister Julie Bishop said the alleg... ...

Look to global law for South China Sea engagement, Najib says
April 27, 2015 12:24:04 pm
(Apr 27): Respect for international law must be the basis of rules of engagement and activities in the South China Sea, Malaysian Prime Minister Najib Razak said as tensions rise over the waters hosting some of the busiest shipping lanes. S... ...

Dollar on defensive after more weak U.S. economic data
April 27, 2015 12:22:59 pm
TOKYO (Apr 27): The dollar started the week on the defensive on Monday after more disappointing U.S. economic data reinforced expectations the U.S. Federal Reserve will not hike interest rates any time soon, while concerns about Greece's debt talk......

Brent crude holds near 4-1/2 month high on Yemen, U.S. rig count
April 27, 2015 12:21:19 pm
SINGAPORE (Apr 27): Brent crude prices held near a 4-1/2 month high above $65 a barrel on Monday, supported by concerns about fighting in Yemen disrupting Middle East supplies and signs that U.S. shale output may have started to decline. Th... ...

RHB Cap dips 0.25% on downward projection of overseas contribution
April 27, 2015 12:17:09 pm
KUALA LUMPUR (Apr 27): Shares in RHB Capital Bhd dipped as low as 0.25% or 2 sen at RM7.98 in the morning trades on recent feature in The Edge Weekly, which quoted its managing director Kelle Kam as saying that it has revised down its overseas con......

ManagePay up 4.5% on Bank Negara, UnionPay contracts
April 27, 2015 12:14:00 pm
KUALA LUMPUR (Apr 27): ManagePay Systems Bhd rose as much as 4.5% as investors continued to buy the electronic-payment specialist's shares after it secured  two contracts in recent weeks. ManagePay (fundamental: 1.50; valuation: 0.6)... ...

Perlis mufti takes Ahmad Maslan to task
April 27, 2015 12:12:10 pm
PETALING JAYA: Perlis mufti Datuk Dr Mohd Asri Zainul Abidin has taken Datuk Ahmad Maslan to task for reportedly saying that Tun Dr Mahathir Mohamad lacks understanding about the goods and services tax (GST). Without naming the deputy finan... ...

PAS says ties with PKR good
April 27, 2015 12:08:46 pm
PERMATANG PAUH: Pakatan Rakyat leaders in PAS and PKR have repeatedly stressed that their ties have been mended over the hudud issue, as the Islamist party launched its Permatang Pauh by-election machinery. PAS’ Permatang Pauh divisi... ...

NRD puts restrictions on naming children ‘Guru’
April 27, 2015 12:02:38 pm
PETALING JAYA: A couple who were prevented from following the family tradition when naming their child are deeply upset with the National Registration Department (NRD) over its little-known rule concerning the word Guru. The child’s ... ...

MP: Police withdrew support for concert
April 27, 2015 11:58:20 am
PETALING JAYA: Heineken’s Thirst 2015: We Are All Stardust concert scheduled to take place last Saturday night was cancelled because police withdrew their support at the last minute. Serdang Member of Parliament Dr Ong Kian Ming said... ...

Gold struggles below $1,200 on strong equities; Fed meet eyed
April 27, 2015 11:55:22 am
SINGAPORE (Apr 27): Gold was languishing near its lowest in five weeks on Monday, as robust equities dented its appeal as a safe-haven, with investors also focusing on the Federal Reserve's policy meeting this week for clues on the timing of a U.S......

Malaysians for Malaysia members hand out flowers
April 27, 2015 11:51:34 am
PETALING JAYA: The distribution of flowers in the Taman Medan neighbourhood yesterday following a protest a week ago against a church drew mixed reactions from local residents. Some appeared taken aback when a group from the Malaysia... ...

Taman Medan pastor forgives protestors, defends IGP’s brother
April 27, 2015 11:48:44 am
PETALING JAYA: Overwhelmed by support for his church, the senior pastor of Taman Medan’s Community of Praise Petaling Jaya church Pastor Paul Packianathan choked back tears as he thanked Malaysians for standing in solidarity with the congre... ...

MATA on track to have 1,000 full members by 2020, says president
April 27, 2015 11:40:20 am
KUALA LUMPUR (Apr 27): The Malaysian Association of Technican Analysts (MATA) is on track to achieve its target of having 1,000 full members by the year 2020. Its president Datuk Dr Nazri Khan in a brief statement today told the edgemarkets... ...

Another RM1.18b went to Jho Low, claims website
April 27, 2015 11:35:28 am
PETALING JAYA: A US$330 million (RM1.18 billion) loan 1Malaysia Development Bhd (1MDB) had issued to PetroSaudi International in 2011 was deposited into the account of Good Star Ltd, a firm controlled by businessman Low Taek Jho, whistleblo... ...

Malaysia says foils plan by suspected militants to attack capital
April 27, 2015 11:29:53 am
KUALA LUMPUR (Apr 26): Malaysian police have arrested 12 people linked to the militant group Islamic State and seized explosives, foiling a plan to attack several locations in and around the capital, which is hosting the ASEAN summit. ...

KNM falls 4% on rights shares listing
April 27, 2015 11:22:46 am
KUALA LUMPUR (Apr 27): KNM Group Bhd’s shares this morning dropped 4.35% or 3 sen to 66 sen after the company announced that it was granted listing and quotation of its rights issue today. In its announcement made last Friday, KNM sa... ...

Desperate Nepalese sleep in open, seek help as aftershocks spread fear
April 27, 2015 11:21:10 am
KATHMANDU (Apr 27): Thousands of desperate Nepalese huddled under tents and sought scarce food and medical supplies on Monday, two days after a massive quake killed more than 3,200 people and overwhelmed authorities struggled to cope with the disa......

International roaming to phase out upon AEC integration, Axiata
April 27, 2015 11:17:36 am
KUALA LUMPUR (Apr 27): International roaming would phase out on integration of ASEAN Economic Community, Axiata Group Bhd president and chief executive officer Datuk Seri Jamaludin Ibrahim projected. "We would not be seeing international ro... ...

Indonesia plans to cut palm oil export tariff - reports
April 27, 2015 11:13:45 am
JAKARTA (Apr 27): Indonesia plans to reduce its crude palm oil (CPO) export tax to help offset the cost burden for companies from a plan to impose separate export levies, a senior Finance Ministry official said, according to local media. Ea... ...

Asian shares inch up; focus on central banks, Greece
April 27, 2015 11:09:55 am
TOKYO (Apr 27): Asian shares scaled seven-year highs following stellar earnings from a few U.S. hi-tech giants, but investors were cautious ahead of central bank meetings this week in the U.S. and Japan and on deadlock in creditors' talks with Gre......

China March industrial profits fall 0.4 pct, down 2.7 pct in Q1
April 27, 2015 11:06:40 am
BEIJING (Apr 27): Profits earned by Chinese industrial firms fell 0.4 percent in March from a year earlier to 508.61 billion yuan ($82 billion), the National Bureau of Statistics said on Monday. That compared with a 4.2 percent year-on-year... ...

Palm oil to drop into 2,099-2,118 ringgit range
April 27, 2015 11:04:52 am
SINGAPORE (Apr 27): Palm oil may break support at 2,137 ringgit and fall into a range of 2,099-2,118 ringgit per tonne as indicated by its wave pattern and a Fibonacci projection analysis. Support is at the 38.2 percent Fibonacci projection... ...

Nikkei flat as earnings, central bank meetings cap risk appetite
April 27, 2015 11:03:52 am
TOKYO (Apr 27): Japanese stocks were flat in a choppy Monday morning as investors were cautious amid the earnings season and ahead of some key events later this week, including central bank meetings in Japan and the United States. The Bank ... ...

Stocks With Momentum: Ireka Corporation
April 27, 2015 11:03:29 am
Ireka Corporation Bhd (-ve) IREKA (Fundamental: 0.2/3, Valuation: 0.9/3) was ‘Red Flagged’ by our algorithm due to its low fundamental score, suggesting that investors should exercise caution. Gearing stood at 67.5%. T... ...

Insider Asia’s Stock Of The Day: Knusford
April 27, 2015 11:01:12 am
Knusford Bhd KNUSFORD (Fundamental: 1.8/3, Valuation: 3.0/3) is principally a trading company for building materials that also provides sales and rental of heavy machinery. The two segments accounted for roughly 80% of... ...

Ovum: Global retail banking IT budgets to reach US$131b this year
April 27, 2015 11:00:55 am
KUALA LUMPUR (Apr 27): Global retail banking industry information technology (IT) budget, including in Malaysia, will rise 4.3% year-on-year to reach US$131 billion this year, according to Australia-based independent telecom analyst firm Ov... ...

Stocks With Momentum: Emas Kiara Industries
April 27, 2015 10:55:19 am
Emas Kiara Industries Bhd (-ve) EKIB (Fundamental: 1.65/3, Valuation: 0.9/3) is mainly involved in the provision of geotechnical engineering solutions including marine and coastal engineering, protection of shorelines and riverbanks ... ...

Stocks With Momentum: Ablegroup
April 27, 2015 10:54:46 am
Ablegroup Bhd (+ve) ABLEGROUP (Fundamental: 0.8/3, Valuation: 0.3/3) first triggered our momentum algorithm on March 13. Since then, its share price has jumped 37.9% to close at 20 sen last Friday. AbleGroup, formerly known as... ...

Brent crude holds near 4-1/2 month high on Yemen, U.S. rig count
April 27, 2015 10:33:18 am
SINGAPORE (Apr 27): Brent crude prices held near a 4-1/2 month high above $65 a barrel on Monday, supported by concerns about fighting in Yemen disrupting Middle East supplies and signs that U.S. shale output may have started to decline. Th... ...

Rerating seen for WCT with new contract wins
April 27, 2015 10:30:21 am
WCT Holdings Bhd (April 24, RM1.79) Maintain buy with an unchanged target price (TP) of RM2.12: After declining to a low of RM1.38 following uninspiring new contract wins and operating results, WCT Holdings Bhd’... ...

Pavilion REIT’s 1QFY15 earnings at RM60.5m
April 27, 2015 10:29:09 am
Pavilion Real Estate Investment Trust (REIT) (April 24, RM1.56) Maintain hold with an unchanged target price (TP) of RM1.47: Gross revenue for the first quarter of the financial year ending December  (1QFY15)  o... ...

Strong FY15 and FY16 profits expected for SCH Group
April 27, 2015 10:27:28 am
SCH Group Bhd (April 24, 29.5 sen) Maintain buy with an unchanged target price (TP) of 34 sen: SCH Group Bhd reported a net profit for the second quarter of the financial year ending  August (2QFY15) of RM600,00... ...

KLCI remains in positive zone as select blue chips lift
April 27, 2015 10:21:23 am
KUALA LUMPUR (April 27): The FBM KLCI remained in positive territory in line with the uptrend at most global markets, lifted by select blue chips. At 10am, the FBM KLCI was up 2.09 points to 1,864.67. The top gainers included ... ...

Dayang only needs another 3.1% of Perdana to trigger GO
April 27, 2015 10:16:49 am
Perdana Petroleum Bhd (April 24, RM1.34) Reiterate buy with an unchanged RM1.70 target price based on unchanged 10 times 2016  price-earnings ratio: Dayang Enterprise  exercised early termination notices on Sove... ...

TNB’s generation risks capped, primed for good results
April 27, 2015 10:10:38 am
Tenaga Nasional Bhd (April 24, RM14.60) Maintain buy with an unchanged target price (TP) of RM17.20:  TNB is expected to announce its results for second quarter of the financial year ending August (2QFY15)  toda... ...

Ideal Sun City rises on renewed buying interest
April 27, 2015 10:08:49 am
KUALA LUMPUR (April 27): Shares of Ideal Sun City Holdings Bhd rose today after AllianceDBS Research said there had been renewed buying interest in Ideal Sun City and explained that the stock had on April 24 crossed over the 55.5 hurdle to a high ......

Compugates shares most active on RM44m agarwood sale agreement
April 27, 2015 10:08:33 am
Compugates shares most active on RM44m agarwood sale agreement   ...

Press Metal facing pressure on aluminium prices
April 27, 2015 10:07:54 am
Press Metal Bhd (April 24, RM2.90) Maintain hold with an unchanged target price (TP) of RM3.20: China has announced that it will end its export tariffs on aluminium products — a move that will exacerbate a globa... ...

MAE eyes JVs with OEMs for expansion
April 27, 2015 10:00:35 am
KUALA LUMPUR: Malaysian Airline System Bhd’s (MAS) maintenance and engineering arm, Malaysian Aerospace Engineering Sdn Bhd (MAE), is looking to emulate Singapore International Airline (SIA) by partnering with original equipment manufacture... ...

Analysts see Malaysia’s passenger traffic grow faster
April 27, 2015 10:00:31 am
KUALA LUMPUR: Aviation analysts see passenger traffic at the 39 Malaysian airports of Malaysia Airports Holdings Bhd (MAHB) grow at a faster pace this year than in 2014, with projections ranging from 4% to 6%. Traffic at the airports increa... ...

Matrix Concepts expects double-digit profit growth
April 27, 2015 09:56:39 am
SEREMBAN: Property developer Matrix Concepts Holdings Bhd expects the recurring income from its d’Tempat Country Club and the Matrix Global Schools to contribute up to 10% of its bottom line in the next three to five years, according to gro... ...

GHL strides forward with CIMB PSP agreement
April 27, 2015 09:53:07 am
KUALA LUMPUR: GHL Systems Bhd has made a clear statement of intent of its aggression to grow the company’s transaction payment acquisition (TPA) business last week when the end-to-end payment solutions provider signed a payment service prov... ...

KL to host 16th Malaysian International F&B Trade Fair
April 27, 2015 09:51:22 am
KUALA LUMPUR: The city will see the 16th incarnation of the country’s leading food industry event — the Malaysian International Food and Beverage Trade Fair (MIFB) 2015 — next month, which will see Kuala Lumpur playing host to the world’s l... ...

KNM falls 6% on rights shares listing
April 27, 2015 09:50:45 am
KNM falls 6% on rights shares listing   ...

Willowglen close to firming up an acquisition
April 27, 2015 09:49:59 am
KUALA LUMPUR: Willowglen MSC Bhd, involved in providing supervisory control and data acquisition systems, is looking to acquire a global company in a related field, which will see it expand its business field and geographical reach — in a m... ...

Foreign investors buy local equity for sixth consecutive week
April 27, 2015 09:49:51 am
KUALA LUMPUR (April 27): The gradual built-up of Malaysian equity portfolio by foreign investors continued for the sixth consecutive week, with a total of RM163.3 million being mopped up last week, according to MIDF Research. In his ... ...

Muhibbah rises 3.1% on positive trading outlook
April 27, 2015 09:49:12 am
KUALA LUMPUR (April 27): Shares of Muhibbah Engineering Bhd rose today after AllianceDBS Research said Muhibbah was in a position to trade higher and said the stock had on April 24 15 crossed over the RM2.52 hurdle to reach a high of RM2.55 before......

EU to study resuming free-trade negotiations with Southeast Asia
April 27, 2015 09:44:32 am
KUALA LUMPUR (Apr 27): The European Union will explore the possibility of resuming talks on a free trade agreement with the Association of Southeast Asian Nations more than six years after negotiations between the two sides collapsed. ...

U.S. crude above $57.15 on escalating Yemen fights
April 27, 2015 09:36:41 am
SEOUL (Apr 27): U.S. crude held above $57.15 a barrel on Monday, close to a 2015 high as fights in Yemen intensified and U.S.-led air strikes targeted Islamic State militants in Syria, creating more tensions over the security of Middle East... ...

PKNS field project is a win-win for Melati Ehsan
April 27, 2015 09:35:54 am
KUALA LUMPUR: Melati Ehsan Holdings Bhd, which is controlled by businessman Tan Sri Yap Suan Chee with a 49.91% stake as at Feb 10, is unlikely to suffer heavy financial losses if the Selangor  government decides to pull the plug on the controvers......

Anwar to seek review of Federal Court’s guilty verdict for sodomy
April 27, 2015 09:27:48 am
KUALA LUMPUR (Apr 27): Datuk Seri Anwar Ibrahim, who has begun serving a five-year jail term for sodomising his former aide, will apply for a review of the Federal Court's decision to uphold his guilty verdict. Lawyer Latheefa Koya (... ...

KLCI edges up in line with regional markets
April 27, 2015 09:19:19 am
KUALA LUMPUR (April 27): The FBM KLCI edged up in early trade in line with the uptick at most regional markets. At 9am, the FBM KLCI rose 2.11 points to 1,864.69. The top gainers included British American Tobacco (M) Bhd, Bous... ...

Asian shares inch up; focus on central banks, Greece
April 27, 2015 09:11:43 am
TOKYO (April 27): Asian shares scaled seven-year highs following stellar earnings from a few U.S. hi-tech giants, but investors were cautious ahead of central bank meetings this week in the U.S. and Japan and on apparent deadlock in Greece's talks......

More central banks meet, but ability to pilot economies in doubt
April 27, 2015 09:03:59 am
LONDON (April 27): Most central banks have been easing policy since the start of the year and are set to do more, but it still isn't clear whether that new activism, which has pushed stock markets to record highs, will help the global economy much......

AffinHwang Capital downgrades Jaya Tiasa to Sell, cuts target price
April 27, 2015 08:32:43 am
KUALA LUMPUR (April 27): AffinHwang Capital Research has downgraded Jaya Tiasa Holdings Bhd to “Sell” (from Hold) at RM1.65 with a lower target price of RM1.50 (from RM1.75) and said Jaya Tiasa’s 9MFY15 log and FFB production declined partly due t......

Momentum may carry FBM KLCI higher or overshoot 1,896 resistance, says HLIB Research
April 27, 2015 08:26:31 am
KUALA LUMPUR (April 27): Hong Leong IB Research said momentum the FBM KLCI higher or overshoot the 1,878 and 1,896 resistance levels. In an assessment of the post Goods and Services Tax (GST)-implementation, the research house said most pass throu......

Pestech is strengthening its rail electrification unit
April 27, 2015 08:24:43 am
KUALA LUMPUR: Pestech International Bhd is strengthening its rail electrification business as it seeks to increase its participation in Southeast Asia’s infrastructure development and modernisation. “We foresee that rail electrificat... ...

Muhibbah in a position to trade higher, says AllianceDBS Research
April 27, 2015 08:18:24 am
KUALA LUMPUR (April 27): AllianceDBS Research said Muhibbah Engineering Bhd was in a position to trade higher and said the stock had on April 24 15 crossed over the RM2.52 hurdle to reach a high of RM2.55 before closing at RM2.51 (+9 sen, +3.71%).......

Renewed buying interest emerges in Ideal Sun City, says AllianceDBS Research
April 27, 2015 08:13:56 am
KUALA LUMPUR (April 27): AllianceDBS Research said there had been renewed buying interest in Ideal Sun City Holdings Bhd (Ideal) and said the stock had on April 24 crossed over the 55.5 hurdle to a high of 57 sen before settling at 54.5 sen (2 sen......

KLCI to track higher in line with global rally
April 27, 2015 07:26:08 am
KUALA LUMPUR (April 27): The FBM KLCI is expected to track higher today in line with the rally at most global markets last week. Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak for... ...

Investors seek protection against healthcare stock decline
April 25, 2015 11:41:04 am
NEW YORK (April 25): Healthcare companies on a seven-year tear have been top performers so far in 2015, helping to push broad stock indexes to record levels, but traders are now looking to protect themselves from a selloff as they await major earn......

KLCI to track higher, push toward 1,900 level
April 25, 2015 11:15:33 am
KUALA LUMPUR (April 25): The FBM KLCI is expected to track higher next week in line with the rally at most global markets last week. Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak... ...

RHB In transition
April 25, 2015 11:14:14 am
KUALA LUMPUR (April 25): RHB Capital Bhd’s (RHB Cap) outgoing group managing director Kellee Kam believes that the reorganisation of the group comes at an opportune time, according to the Edge weekly in its latest edition. In an excl... ...

Tech triumvirate propels Nasdaq, S&P to record highs
April 25, 2015 11:02:50 am
(April 25): The Nasdaq Composite and S&P 500 chalked up record high closes on Friday, propelled by strong results from tech behemoths Google, Amazon and Microsoft. The Nasdaq Composite added 0.71 percent to end at 5,092.09, its second s... ...

Equities hit record highs, dollar weakens on gloomy data
April 25, 2015 10:59:16 am
NEW YORK (April 25): Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak for the Nasdaq stock index stoked investor optimism, while the dollar eased on gloomy U.S. economic data. Amazo... ...

Boycott unethical traders exploiting GST, says Najib
April 24, 2015 11:08:40 pm
(April 24): Prime Minister Datuk Seri Najib Razak has urged consumers to boycott unethical businesses exploiting the good and services tax (GST) to boost profits. "The problem with GST is not the concept, but the unethical behaviour ... ...

Dollar slips after weak business spending figures
April 24, 2015 11:03:55 pm
NEW YORK/LONDON (April 24): Data showing a seventh straight monthly decline in U.S. business spending plans knocked the dollar lower on Friday and gave Federal Reserve policymakers even less reason to raise near-zero interest rates any time soon....

Amazon, Microsoft profit from cloud as Nasdaq reaches record
April 24, 2015 10:58:10 pm
SAN FRANCISCO/SEATTLE (April 24): Minutes after the Nasdaq Composite closed at a record, three of the biggest bellwethers in technology reminded the market precisely why investors are so bullish on companies that do business through the Web. ...

Indian parliament kicks off debate on key tax reform
April 24, 2015 10:48:17 pm
NEW DELHI (April 24): India's parliament began debating a sales tax on Friday that seeks to transform the country into a common market, but experts said compromises made to enlist the support of states risked diluting the impact of the biggest tax......

European shares rise as DAX and Greek markets make progress
April 24, 2015 10:46:22 pm
LONDON (April 24): European shares rose on Friday, boosted by encouraging corporate earnings and upbeat economic data, while prospects for a deal over Greece's debt crisis also lifted Athens' volatile market. The FTSEurofirst 300 was up 0.2... ...

Euro zone warns Greece no cash till full reform deal
April 24, 2015 10:35:35 pm
RIGA (April 24): Euro zone finance ministers warned Greece on Friday that its leftist government will get no more aid until it agrees a complete economic reform plan, as Athens lurches closer to bankruptcy. Greek Finance Minister Yanis Varo... ...

HSBC looks at moving headquarters from Britain
April 24, 2015 10:29:19 pm
LONDON/HONG KONG (April 24): HSBC, Europe's biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London's reputation as a global hub for fi......

Diet Pepsi dumps aspartame after consumer backlash hurts sales
April 24, 2015 10:22:29 pm
ATLANTA (April 24): PepsiCo Inc. will start selling Diet Pepsi without aspartame later this year, after a consumer backlash against the artificial sweetener crushed sales. The company will begin to replace aspartame with a blend of sucralos... ...

Brent oil edges up, set for third straight weekly gain
April 24, 2015 10:20:09 pm
LONDON/SINGAPORE (April 24): Brent crude edged up on Friday, poised to mark a third consecutive week of price increases as air strikes in Yemen stoked concerns over the security of Middle East oil shipments. A softer U.S. dollar and strong ... ...

Snapshot: Wall St rises on tech earnings after Nasdaq record
April 24, 2015 10:05:14 pm
(April 24): U.S. stocks opened higher on Friday as strong results from tech behemoths Google Inc, Amazon.com Inc and Microsoft Corp put the Nasdaq Composite on track to extend its ascent a day after surpassing a 15-year-old record. The Dow ... ...

U.S. business investment plans fall for seventh straight month
April 24, 2015 09:50:09 pm
WASHINGTON (April 24): U.S. business investment spending plans fell for a seventh straight month in March, likely weighed down by a strong dollar and lower energy prices, suggesting the economy could struggle to strongly rebound from the first qua......

Wall St to open up on tech earnings, Nasdaq to extend record
April 24, 2015 09:47:39 pm
(April 24): U.S. stocks were set to open higher on Friday as strong results from tech behemoths Google, Amazon and Microsoft, set the Nasdaq Composite on track to extend its run after surpassing on Thursday a 15-year-old record. The S&P... ...

Anthony See not re-elected as Kian Joo's ED
April 24, 2015 09:37:03 pm
KUALA LUMPUR (April 24): Datuk Anthony See Teow Guan, 69, has retired as an executive director (ED) of Kian Joo Can Factory Bhd. The company’s filing with Bursa Malaysia today showed See’s retirement was due to his non re-election as ED at ... ...

French gas giant GDF Suez changes name to Engie
April 24, 2015 09:12:13 pm
PARIS (April 24): French gas utility GDF Suez said on Friday that it was changing its name to "Engie" to reflect an evolving energy sector and the group's growing involvement in renewable power, marking a break from its former state monopoly past.......