KUALA LUMPUR, May 21 — Offshore oilfield services provider Bumi Armada Bhd’s pre-tax profit for the first quarter ended March 31, 2013 increased to RM130.90 million from RM107.98 million in the same period last year. Revenue surged to RM488.76 million from RM335.11 million previously. Executive Director and Chief Operating Officer Hassan Basma said the group’s [...]

KUALA LUMPUR, May 20 — Perdana Petroleum Bhd’s pre-tax profit returned to the black for the first quarter ended March 31,2013 at RM13.17 million from the pre-tax loss of RM7.852 million in the corresponding period last year. Revenue also increased six per cent to RM56.779 million from RM53.446 million previously. In a filing to Bursa [...]

KUALA LUMPUR, May 20 — AmInvest clinched both awards under the Domestic Fixed Income category at the recent Employees Provident Fund (EPF) External Portfolio Managers Award Ceremony 2012. Fresh from its recent wins at the Edge-Lipper Fund Malaysia Awards 2013, they were named ‘Best 3-Year ROI Domestic Fixed Income Portfolio Manager Year 2012’ and ‘Best [...]

NEW YORK, May 18 (Reuters) – Europe’s top trade official for the first time late on Friday officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE Corp for violating anti-dumping and anti-subsidy guidelines. European Union Trade Commissioner Karel De Gucht said he was prepared to launch a formal investigation into anti-competitive behavior by these [...]

KOTA TINGGI, May 17 — Bank Muamalat Malaysia Bhd expects to post a pre-tax profit of about RM200 million for the 12 months ended Dec 31, 2012, compared to RM123.5 million in the preceding year. However, this year’s pre-tax profit is expected to dip slightly on lower retail banking growth folllowing the bank’s greater attention [...]

KUALA LUMPUR, May 16 — CIMB Group Chief Executive Datuk Seri Nazir Razak said the negotiations between the bank and San Miguel Corp on the proposed acquisition of a stake in Bank of Commerce (BoC) in the Philippines are expected to be finalised in less than a month. “We are still in final negotiations with [...]

NEW YORK: (Reuters) – Wal-Mart Stores Inc stepped up Bangladesh factory inspections while U.S. and European retailers pursued separate accords to try to prevent another disaster in a garment industry where more than 1,200 workers have died in the past six months. Wal-Mart, the world’s biggest retailer, said it does not plan to sign a [...]

KUALA LUMPUR, May 14 — Gamuda Bhd is poised to triple its RM4.2 billion construction orderbook within the next 18 months, a research house said. In a note today, HwangDBS Vickers Research said the biggest overhang for Gamuda had been the 13th General Election. “With that concluded and the ruling coalition given a fresh mandate, [...]

KUALA LUMPUR, May 13 — MMC Corp Bhd is allocating RM2.21 billion to upgrade its ports in Johor to attract more shipping companies to the southern gateway and to remain a competitive player in the shipping industry. Group Managing Director Datuk Hasni Harun said the company is expected to spend RM1.6 billion on Port of [...]

HONG KONG, May 13 (Reuters) – Long-haul carrier AirAsia X, founded by entrepreneur Tony Fernandes, began meeting investors on Monday to gauge interest for an initial public offering in Malaysia Worth up to $300 million, according to a term sheet of the deal seen by Reuters. The company and its shareholders are offering 790.1 million [...]

KUALA LUMPUR, May 21 — Alliance Financial Group Bhd’s pre-tax profit for the fourth quarter ended March 31, 2013 increased to RM178.30 million from RM164.93 million in 2012. In a filing to Bursa Malaysia today, Alliance Financial said its revenue for the quarter rose to RM355.05 million from RM313.90 million previously. Moving forward, the group [...]

KUALA LUMPUR, May 21 — Malaysia Airlines (MAS) is offering three-day two-night packages for only RM880 per person to Ho Chi Minh City, Vietnam from now to Aug 31, 2013. In a statement today, MAS said the package included return economy class air ticket, airport taxes, return airport transfer, accommodation at Equatorial Hotel and daily [...]

KUALA LUMPUR, May 20 — Affin Holdings Bhd registered a lower pre-tax profit of RM203.5 million for the first quarter ended March 31, 2013, against RM213.9 million reported during the same quarter last year. In contrast, revenue for the three-month period rose to RM732.8 million against RM717.3 million, registered previously. In a statement today, the [...]

KUALA LUMPUR, May 20 — Pos Malaysia Bhd posted a higher pre-tax profit of RM50.09 million for its fourth quarter ended March 31, 2013, when compared to the RM44.341 million registered in the same quarter of last year. Revenue for the three-month period was also up at RM344.486 million from RM308.045 million previously. For the [...]

JOHOR BARU, May 18 — Datuk Seri Abdul Wahid Omar, recently appointed as Minister in the Prime Minister’s Department, will resign as President and Chief Executive Officer of Malayan Banking (Maybank) Bhd on June 4. He will take his oath of office as Senator on June 5 in order to assume his new portfolio. “Let [...]

KUALA LUMPUR, May 16 — Petronas Gas Bhd has committed to allocating a capital expenditure (capex) of RM8.1 billion for the next five years, mainly to fund its regasification terminals in Lahad Datu and Pengerang. Chairman Datuk Anuar Ahmad said the capex, to be utilised from end-2012, will be allocated from its parent Petronas Bhd’s [...]

KUALA LUMPUR, May 15 — Malaysia’s gross domestic product (GDP) expanded by 4.1 per cent in the first quarter 2013, amid the weaker external environment. This is in contrast to the 5.1 per cent in the same quarter 2012 and 6.5 per cent in the fourth quarter. Bank Negara Malaysia Governor Tan Sri Dr Zeti [...]

KUALA LUMPUR, May 15 — AirAsia India has appointed Mittu Chandilya as its Chief Executive Officer (CEO), effective June 1, this year. In a statement, AirAsia said Mittu had always been a passionate follower of the aviation industry, and his last role was as Principal and Head of Services Practice in the Asia-Pacific at Egon [...]

KUALA LUMPUR, May 15 — Now that Malayan Banking Bhd President and Chief Executive Officer Datuk Seri Abdul Wahid Omar has been appointed Minister in the Prime Minister’s Department in charge of Economic Planning Unit, the lingering question among the bank’s 47,000 employees is who will replace Abdul Wahid to helm Malaysia’s largest commercial bank? [...]

Klang, May 15 (Bernama) — Construction company and property developer WCT Bhd is confident of capturing RM1.5 billion worth of domestic and overseas construction projects this year. Deputy managing director Goh Chin Liong said the company has already secured RM500 million worth of projects and currently is tendering for contracts worth RM5 billion locally and [...]