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  • Petronas records jump in pre-tax profit of RM78 bil for nine months ended Sept 30

    KUALA LUMPUR, Nov 28– Petronas recorded a marginal increase in pre-tax profit of RM78 billion for the nine months ended Sept 30, 2014 against RM76.7 billion in the same period last year. The national oil company’s revenue grew to RM249.78 billion for the period under review from RM232.51 billion previously. Its Executive Vice-President/Group Chief Financial Officer, Datuk George Ra [...]

  • Sime Darby Bhd registers a pre-tax profit of RM674.9 mil for Q1

    Kuala Lumpur, Nov 28–-Sime Darby Berhad recorded a pre-tax profit of RM674.9 million and a net profit of RM500.7 million for the first quarter ended 30 September 2014 (1Q FY2014/15), representing a slight increase of 1 percent and 2 percent respectively, compared to the same period in the last financial year. In a statement today, [...]

  • OPEC keeps oil output on hold despite low prices

    VIENNA (AP) — Reflecting its lessening oil clout, OPEC decided Thursday to keep its output target on hold and sit out falling crude prices that will likely spiral even lower as a result. Oil prices fell sharply on the news. Even though the decision was largely expected, it showed the once-powerful cartel is losing the power [...]

  • Proton offers five-year warranty, case rebates of up to RM5,000

    SUBANG JAYA, Nov 27–PROTON Holdings Bhd is giving out special rebates for its Year-End Promotions. During this time, customers will get to enjoy many delightful offers which include cash rebates of up to RM5,000 on selected models. The promotions that are ongoing at all PROTON showrooms across the nation also offer new owners of selected [...]

  • Maybank nine months pre-tax profit up 1.7% to RM6.68bil

    KUALA LUMPUR, Nov 26–Maybank, South East Asia’s fourth largest bank by assets, today said that that Group profit before tax (PBT) for the nine months ended 30 September 2014 rose 1.7% from a year earlier to RM6.68 billion as higher net fund-based income, lower overheads and lower impairment losses were mostly offset by lower fee-based [...]

  • Guessing game: What are OPEC nations thinking?

    NEW YORK (AP) — Does Saudi Arabia have it out for frackers in the U.S.? Or Iran? Or Russia? Will low oil prices make it easier to fight the Islamic State? Or harder? Trying to guess what OPEC members are thinking in the run-up to Thursday’s meeting in Vienna is a high stakes parlor game [...]

  • ASNB announces 6.20 sen income distribution for ASN 3

    KUALA LUMPUR, Nov 25– Amanah Saham Nasional Bhd, a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), today announced an income distribution of 6.20 sen per unit for Amanah Saham Nasional 3 Imbang (ASN 3) for the year ending Nov 30, 2014. The income distribution, involving a payout of RM51.24 million, will benefit 30,710 unitholders who hold a combined 826.51 [...]

  • RON95 and diesel subsidy removal will not have inflationary consequences, says Zeti

    KUALA LUMPUR, Nov 24–Bank Negara Malaysia (BNM) today clarified that the removal of subsidies for RON95 petrol and diesel will not have any inflationary consequences to the country’s economy as global crude oil prices are softening. Its Governor, Tan Sri Dr Zeti Akhtar Aziz described the move as a “very positive development” for the economy as consumers will benefit f [...]

  • MyScreen launches social media broadcast platform; invests RM8mil for studio

    KUALA LUMPUR, Nov 21– MyScreen Malaysia Sdn Bhd today officially launched the country’s first social media broadcast platform, which offers ‘live streaming’ functionality. Its CEO, Shazwan Mohammad said visitors to the MyScreen website would find a responsible and reliable Malaysian broadcast channel, similar to YouTube, which provides news as well as nurtu [...]

  • AirAsia to launch Southeast Asian air pass

    KUALA LUMPUR, Nov 21— Budget carrier AirAsia will launch a regional air pass next year to increase revenue and boost tourism in Southeast Asia, taking competition in low-cost air travel to a more intense level. Chief Executive Tan Sri Tony Fernandes said the AirAsia ASEAN Pass will allow travelers to fly to 10 different destinations in Southeast Asia in [...]

  • Maybank launches inaugural GreTai Securities Market in China, Taiwan

    KUALA LUMPUR, Nov 28–Malayan Banking Berhad (Maybank) has successfully launched an inaugural GreTai Securities Market (“GTSM”) listed transaction in Taiwan, Republic of China, raising USD500 million from professional institutional investors. This is issued out of Maybank’s existing USD 5 billion Multi-Currency Medium Term Note Programme and is Maybank’s first 30 year callable zero coupon notes. [...]

  • Oil plunge a panacea for crude-reliant Asia

    TOKYO–A renewed plunge in oil prices is a worrying sign of weakness in the global economy that could shake governments dependent on oil revenues. It is also a panacea as pump prices fall, giving individuals more disposable income and lowering costs for many businesses. Partly because of the shale oil boom in the U.S., the [...]

  • Proton reactivates ‘Proton We-Care Prihatin Banjir’ programme

    SUBANG JAYA, November 26–To alleviate concerns over the flood victims throughout the country, PROTON Holdings Berhad has reactivated the “PROTON We-Care Prihatin Banjir” programme to help Proton owners who suffered damages to their cars due to flooding. Under PROTON We-Care Prihatin Banjir, affected Proton owners will be given 20% discount to the total cost of [...]

  • Aircel-Maxis case: M’sian tycoon, Maran brothers summoned to court

    NEW DELHI, Oct 30–Malaysian tycoon, T Ananda Krishnan is one of seven people, including former Indian telecom minister Dayanidhi Maran, who were summoned by the country’s special 2G court in connection with the Aircel-Maxis deal, the reported. Special CBI Judge O.P. Saini took cognisance of the CBI’s charge sheet filed against the eight accused [...]

  • Venezuela ordered to pay $1.6 billion to Exxon

    WASHINGTON (AP) — An international arbitration panel ordered Venezuela’s socialist government on Thursday to pay $1.6 billion to Exxon Mobil for the seizure of a major oil project in the South American country and other losses. It is the largest award yet in a backlog of costly complaints against Venezuela over a wave of nationalizations [...]

  • India, China leaders to discuss trade, investment

    NEW DELHI (AP) — Chinese President Xi Jinping vowed to bring prosperity to Asia and create opportunities for the world as he and India’s Prime Minister Narendra Modi began talks Thursday to deepen cooperation through investment and trade. Xi said India and China as the world’s largest developing countries and emerging markets shared a relationship of [...]

  • Sony forecasts US$2bil loss, cites weak mobile

    TOKYO (AP) — Sony expects its annual loss to swell to more than $2 billion after writing down the value of its troubled mobile business as phone sales sagged amid brutal competition. The Japanese electronics and entertainment conglomerate said Wednesday it anticipates a net loss of 230 billion yen ($2.15 billion) for the fiscal year [...]

  • APU-ABNxcess sign MOU to bridge industrial needs

    KUALA LUMPUR, Sept 5–Asia-Pacific University of Technology and Innovation, Malaysia (APU) and Asian Broadcasting Network (M) Sdn Bhd today signed a Memorandum of Understanding (MoU) to furnish the broadcasting and media industry with skilled and market-ready workforce. The main objective of the MoU will be to promote interaction between APU and ABNxcess in mutually beneficial [...]

  • Companies reminded to register for GST scheme before year-end: Ahmad Maslan

    SHAH ALAM, Sept 3–The Finance Ministry today advised companies which had yet to register for the Goods and Services Tax (GST) scheme to do so fast as the government would not postpone its implementation next April. Deputy Finance Minister Datuk Ahmad Maslan said that only 24,429 of 123,000 companies had registered up to now. “We [...]

  • CIMB pre-tax profit falls to RM2.71bil

    KUALA LUMPUR, Aug 29– CIMB Group Holdings Bhd pre-tax profit for the first half ended June 30, 2014 declined to RM2.71 billion from RM3.1 billion in the same period of 2013. Revenue fell to RM6.94 billion from RM7.39 billion previously, CIMB said in a filing to Bursa Malaysia here today. Group chief executive, Datuk Seri Nazir Tun Razak, [...]