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  • Higher profit for Maybank in 2014

    KUALA LUMPUR, Feb 26– Malayan Banking Bhd’s (Maybank) pre-tax profit surged to RM9.11 billion for its financial year ended Dec 31, 2014 from RM8.86 billion in 2013. Revenue increased to RM35.71 billion from RM33.25 billion previously. For the fourth quarter last year, Maybank posted a pre-tax profit of RM2.43 billion, on the back of RM9.66 billion in revenue. [...]

  • Qantas roars back into black after aggressive cost-cutting

    SYDNEY, Australia, Feb 26 (AFP)–Australian carrier Qantas on Thursday roared back into the black after an aggressive shake-up to stem mounting losses, posting its best interim result in four years helped by a revival in its international arm. The Aus$203 million (US$162 million) result in the six months to December 31 marked a stunning turnaround [...]

  • AirAsia X appoints Cheok Huei Shian as CFO

    SEPANG, February 25–AirAsia X Berhad today announced the appointment of Cheok Huei Shian as its Chief Financial Officer effective immediately. Reporting directly to Benyamin Ismail, acting Chief Executive Officer of AirAsia X Berhad, Huei Shian will be responsible for corporate finance, treasury, financial planning and analysis as well as investor relations. AirAsia X Group CEO,  Datuk K [...]

  • Brahim’s shareholders reject Burger King’s acquisition

      KUALA LUMPUR, Feb 25– Brahim’s Holdings Bhd has aborted its plan to acquire the Burger King franchise in Malaysia and Singapore as more than 90 per cent of its shareholders are against it. Executive Chairman Datuk Seri Ibrahim Ahmad Badawi said among the reasons given is that the fast food chain is a loss-making entity. The inflight [...]

  • Malaysia expects fair assessments by sovereign rating agencies, says Zeti

    KUALA LUMPUR, Feb 24– Malaysia expects fair assessments by sovereign rating agencies on the back of the country’s strong underlying fundamentals at present. The country has also a strong financial system, steady economic growth path and current account surplus, alongside a low level of external debt and high reserves, said Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar [...]

  • Maybank enhances digital presence with Quick Balance

    KUALA LUMPUR, Feb 23–Maybank today announced the launch of Malaysia’s first ever “Quick Balance” service within the Maybank2u app, designed to enrich its mobile banking value proposition. The service allows customers to view their account balance directly and simply through a tap of a button, and comes with the freedom to customise  the specific balances [...]

  • 1MDB concludes strategic review

    KUALA LUMPUR, Feb 18– 1Malaysia Development Bhd (1MDB) today announced the outcome of a strategic review which began in January of its business, to enable the company to maximise value for the Ministry of Finance and ultimately the people of Malaysia. In conducting the strategic review, 1MDB said it was mindful of its vision and mission: to act as [...]

  • AirAsia sells 25pct stake in AAE Travel for RM306mil

    KUALA LUMPUR, Feb 17– AirAsia Bhd today announced it would divest its 25 per cent stake in AAE Travel Pte Ltd to Expedia Inc for RM306.187 million. In a filing to Bursa Malaysia, AirAsia said it had executed a share purchase agreement (SPA) Expedia, Expedia Southeast Asia Pte Ltd, and its a wholly-owned subsidiary, AirAsia Exp Pte Ltd to [...]

  • Kuwait hails faster than expected oil price rally

    KUWAIT CITY, Kuwait, Feb 16 (AFP)–Kuwaiti Oil Minister Ali al-Omair said Monday that world crude prices have recovered “faster” than expected and that recent gains will likely hold. “Oil prices have improved faster than expected,” Omair told reporters. “I think it will last… It started holding gains now and hopefully, in the second part of [...]

  • Top Glove expects production capacity to increase by 5-10pct

    KUALA LUMPUR, Feb 12– Top Glove Corp Bhd, the world’s largest rubber glove manufacturer by volume, expects production capacity to increase by between five to 10 per cent by year-end. Chairman Tan Sri Lim Wee Chai (pic) said the company produced about 43 billion rubber gloves annually at present. He was speaking after the Malaysian Rubber Glove Manufacturers [...]

  • Sime Darby Q2’14 pre-tax profit slips to RM592.5mil

      KUALA LUMPUR, Feb 26– Sime Darby Bhd posted a lower pre-tax profit of RM592.7 million in the second quarter ended Dec 31, 2014, against the RM953.22 million registered in the same period in 2013. In a filing to Bursa Malaysia today, the multinational conglomerate said revenue increased to RM10.74 billion in the quarter from RM10.71 billion. For [...]

  • Business owners urged to register for GST before March 1 deadline: MAICCI

    KUALA LUMPUR, Feb 26–The implementation of the Goods and Services (GST) Tax is crucial for the continued economic health of the nation and also to counter the shadow economy arising from under-declaration of taxes, according to the Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI). Its President, Tan Sri K.K. Eswaran urged all business [...]

  • Lego sales boosted by blockbuster movie

    BILLUND, Denmark, Feb 26 (AFP)–Lego, the world’s second-largest toy maker, said on Wednesday annual revenue rose by 13 percent, boosted by its blockbuster movie and toys from its Star Wars and Friends ranges. Chief executive Joergen Vig Knudstorp danced on stage and sang the theme song from last year’s “The Lego Movie”, called “Everything is [...]

  • TNB’s prospects remain promising despite tariff cut: AllianceDBS

    KUALA LUMPUR, Feb 12– Tenaga Nasional Bhd’s future prospects remain promising despite the new tariff adjustment and three per cent loss in its shares yesterday, said AllianceDBS Research. TNB’s shares further contracted this morning following the 5.8 per cent or 2.25sen/kWh tariff reduction in Peninsular Malaysia for March–June 2015 announced by the government on Tuesday. The utility company’s stock [...]

  • Govt mulls adding ‘Z’ to bar code to aid GST implementation

    KUALA LUMPUR, Feb 6–The government is considering a proposal to include an additional letter ‘Z’ (signifying ‘zero-rated’) to the bar code on items from the pharmaceutical industry in order to facilitate the implementation of the Goods and Services Tax (GST) on April 1. Deputy Finance Minister Datuk Chua Tee Yong said as the industry has over 3,000 zero-rated GST [...]

  • Public Bank records higher FY14 pre-tax profit of RM5.81bil

    KUALA LUMPUR, Feb 5–Public Bank Bhd posted a higher pre-tax profit of RM5.81 billion for the financial year ended Dec 31, 2014 compared with RM5.31 billion the year before. In a filing to Bursa Malaysia, the bank said revenue for the period also increased to RM16.86 billion from RM15.26 billion. Public Bank founder and chairman Tan Sri Dr. [...]

  • Entire top management of Petrobras to be replaced

    BRASILIA, Feb 5– Brazilian state-controlled oil company Petrobras, which is mired in a massive corruption scandal, said Wednesday that its entire senior management team will be replaced and that the names of the new directors could be announced in two days. “Petrobras confirms that its board of directors will meet Friday to choose the new management team following the [...]

  • Govt to set up automotive council within two months

    KUALA LUMPUR, Jan 30– The government today announced the setting-up of an automotive council by March to provide a platform for policy makers to interact with industry players. Chaired by International Trade and Investment Minister, Datuk Seri Mustapa Mohamed, the council will be made up of representatives from the government and business community, as well as, non-government organisations representing consumers. [...]

  • Changi Airport crosses 54mil passenger mark in 2014

    SINGAPORE, Jan 29– Singapore’s Changi Airport managed 54.1 million passenger movements in 2014, the highest in its 33-year history. This was a 0.7 per cent increase compared to the whole of 2013, Changi Airport Group said in its passenger, airfreight and aircraft movement statistics for 2014. Cargo volumes were stable at 1.84 million tonnes, while flight movements dipped 0.7 [...]

  • Bursa Malaysia registers higher pre-tax of RM272mil for FY2014

      KUALA LUMPUR, Jan 29– Bursa Malaysia Bhd posted a higher pre-tax profit of RM271.759 million in the financial year ended Dec 31, 2014 from  the RM245.580 million recorded in 2013. Revenue rose to RM503.756 million, during the period under review, from RM474.994 million recorded last year. Meanwhile, Bursa Malaysia’s pre tax profit for the fourth quarter [...]