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  • ERL keen to bid for KL-S’pore HSR project

    SEPANG, April 21– Express Rail Link Sdn Bhd (ERL), the operator of KLIA Ekspres and KLIA Transit train services, is keen to bid for the Kuala Lumpur-Singapore High-Speed Rail (HSR) project, saying it is a good candidate with the capabilities and technical know-how. Chief Executive Officer, Noormah Mohd Nor, said this was based on ERL’s proven track record [...]

  • Malaysia, Turkey sign free trade agreement

    KUALA LUMPUR, April 17 — Malaysia and Turkey successfully signed on to a bilateral Free Trade Agreement (FTA) in Ankara, Turkey today that would serve as the catalyst to boost bilateral trade to US$5 billion in 2018. The Malaysian Government was represented by Minister of International Trade and Industry (MITI) Datuk Seri Mustapa Mohamed, while Turkey was represented [...]

  • Google’s 1Q earnings disappoint as ad prices slip

    SAN FRANCISCO (AP) — Google’s first-quarter earnings growth faltered as the Internet’s most influential company grappled with a persistent downturn in advertising prices while spending more money to hire employees and invest in daring ideas. The results announced Wednesday fell below analyst projections. Google’s Class A stock shed $17.10, or 3 percent, to $546.80 in extend [...]

  • M’sia-Turkey FTA to be inked during Najib’s visit – Wisma Putra

    KUALA LUMPUR, April 16– The Malaysia-Turkey Free Trade Agreement will be inked in conjunction with the official two-day visit to Turkey from today by Prime Minister Datuk Seri Najib Tun Razak. The Foreign Ministry said that besides the agreement, several other memorandums of understanding between institutions of higher learning and private sectors of the two countries would also be [...]

  • Google buys drone maker Titan Aerospace

    NEW YORK (AP) — Google has bought Titan Aerospace, a maker of solar-powered drones, saying it could help bring Internet access to remote parts of the world as well as solve other problems. Financial terms were not disclosed. Google Inc. said Monday that atmospheric satellites could also be used in disaster relief and assessing environmental damage. [...]

  • Singapore’s GDP grows 5.1pct in Q1 of 2014

    SINGAPORE, April 14– Based on advance estimates, the Singapore economy grew by 5.1 per cent year-on-year (y-o-y) in the first quarter (Q1) of 2014, lower than the 5.5 per cent growth in the previous quarter. On a quarter-on-quarter (q-o-q) seasonally-adjusted annualised basis, the economy grew by 0.1 per cent, moderating from the 6.1 per cent expansion in the preceding [...]

  • AirAsia signs brand licence pact with Thai AirAsia X

    KUALA LUMPUR, April 10– AirAsia Bhd has signed a brand licence agreement with Thai AirAsia X Co Ltd (TAAX), a Thai joint-venture company of AirAsia X Bhd, in relation to the use of the brand name, trademark and logos of AirAsia X in Thailand. In a filing to Bursa Malaysia today, AirAsia said under the agreement, TAAX would be [...]

  • Mercedes-Benz M’sia records 22pct overall growth in Q1 2014

    KUALA LUMPUR, April 10– Mercedes-Benz Malaysia Sdn Bhd recorded a 22 per cent increase in total sales to 2,233 vehicles for the first quarter of 2014, compared to the same period last year. In a statement here today, it said the increase in sales was predominantly driven by a phenomenal 38 per cent growth in Mercedes-Benz passenger vehicles, with [...]

  • Oil rises to near $103 a barrel on Ukraine unrest

    The price of oil edged up closer to $103 a barrel Wednesday amid unrest in eastern Ukraine, even as a report showed a large rise in U.S. crude stockpiles. By early afternoon in Europe, benchmark U.S. crude oil for May delivery was up 25 cents to $102.81 in electronic trading on the New York Mercantile Exchange. [...]

  • OCBC Malaysia’s pre-tax profit up 15pct to RM1.25bln in FY13

    KUALA LUMPUR, April 9– OCBC Bank (Malaysia) Bhd’s pre-tax profit for calendar year 2013 rose 15 per cent to RM1.25 billion from RM1.085 billion previously. Net profit grew 17 per cent to RM946 million owing to strong loans growth set against improved cost control measures and lower impairment losses and provisions, the bank said in a statement today. OCBC [...]

  • Public Bank’s Q1 pre-tax profit up 4.5% to RM1.33bln

    KUALA LUMPUR, April 21– Public Bank Bhd’s (PBB) pre-tax profit for the first quarter ended March 31, 2014, grew by 4.5 per cent to RM1.33 billion from RM1.26 billion in the same period last year. Revenue increased to RM3.94 billion from RM3.67 billion previously. Founder/Chairman, Tan Sri Teh Hong Piow, said the bank continued to demonstrate resilience in [...]

  • MAS privatisation will cost Khazanah RM1.18bln

    KUALA LUMPUR, April 16– The possible privatisation of Malaysia Airlines would cost its principal shareholder, Khazanah Nasional Bhd, RM1.18 billion, assuming a 10 per cent premium on its current share price, said Maybank Investment Bank (Maybank IB). “Further assuming that the profitable businesses are spun-off and separately listed with Khazanah ceeding a 30 per cent stake, Khazanah would get [...]

  • Malaysia-China bilateral trade to maintain double-digit growth this year

    JOHOR BAHARU, April 15 — The bilateral trade between Malaysia and China is expected to maintain a double-digit growth this year, boosted by active promotion and trade expo participations for both countries, said Malaysia External Trade Development Corporation (Matrade). Its Director for Business Services and Building Material Section, Franchise Unit/China, Trade and Services Promotion Division, Ong Yew Chee, said [...]

  • MOLPay, 7-Eleven launch new payment option

    KUALA LUMPUR, April 11 — Online payment solutions provider, MOLPay, has teamed up with 7-Eleven Malaysia to launch a new innovative payment option for e-commerce merchants. In a statement today, MOLPay said e-commerce merchants could now accept cash from consumers at the nearest 7-Eleven outlet and be notified of the payment in real time when payments were made through [...]

  • Samsung’s 1Q profit falls 4 percent

    SEOUL, South Korea (AP) — Samsung Electronics Co. said its January-March operating income declined 4 percent over a year earlier amid worries about how declining prices of smartphones would impact the world’s largest mobile phone maker. The Asian tech heavyweight said in its Tuesday earnings preview that its operating income for the first three months [...]

  • AG’s Report: EPF Property investment returns exceed expectations

    KUALA LUMPUR, April 7 — The returns of the Employees Provident Fund (EPF) property investment in 2013 have exceeded the target, according to the Auditor-General Report 1, 2013. The report findings, tabled at the Parliament today, said that EPF received gross investment income of RM1.14 billion for investment in property and infrastructure last year, compared to annual target of [...]

  • Online exports from Malaysia on PayPal platform grows by 29pct

    KUALA LUMPUR, April 2– Online exports from Malaysia on the global platform of online payments leader, PayPal, saw a strong growth of 29 per cent year-on-year (yoy). In a statement here today, PayPal said according to its Cross-Border Insights 2013, its merchants in Malaysia saw healthy, double-digit growth for online export corridors: US (20 per cent yoy), Australia (50 [...]

  • AirAsia, Tune Box sign agreement

    KUALA LUMPUR, April 1 — AirAsia Bhd has signed an inflight entertainment and connectivity solutions agreement with Tune Box Avionics Sdn Bhd worth US$33.55 million. In a filing to Bursa Malaysia today, the low-cost airline said the agreement would be for seven years from the effective date. “This transaction offers low upfront capital expenditure compared to traditional inflight entertainment [...]

  • AirAsia India now aims for end-May take off

    NEW DELHI, March 27  – AirAsia India is now aiming for an end-May take-off and with a clear vision of changing the country’s aviation landscape. The airline recently took delivery of its first jet, an Airbus A320. In an interview with the Times of India, Chief Executive Officer Mittu Chandilya said he was not at all frustrated [...]

  • Ex-Sime Darby CEO loses appeal, to stand trial on CBT, cheating charges

    PUTRAJAYA, March 24– Former Sime Darby Berhad president and group chief executive officer Datuk Seri Ahmad Zubair Murshid has to stand trial in the Sessions Court on charges of criminal breach of trust (CBT) and cheating. This is because he lost his final appeal at the Federal Court here today to strike out two principal CBT charges and [...]