Business

TNB, SIPP inks JV for Track 4A
Friday, July 25, 2014

Tenaga Nasional Bhd (TNB) has announced that it will go ahead with building the 1,400MW Pasir Gudang power plant with SIPP Energy Sdn Bhd, despite talk that the so-called Track 4A project would be re-tendered to the public.
 
TNB's announcement to Bursa Malaysia yesterday also signals that YTL Power International Bhd would not be able to bid for the project after it withdrew from the consortium that was awarded the contract via direct negotiation....

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Sales for local automakers likely to decline in 2H
Thursday, July 24, 2014

KUALA LUMPUR: Local automakers Proton Holding Bhd and Perusahaan Otomobil Kedua Nasional Sdn Bhd (Perodua) could see their sales affected negatively in the second-half (2H) of this year as their main market, the lower income consumers, see higher loan rejection rates following tigher credit assessment for car loans after the rise in interest rates recently....

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Sasbadi shares surges in debut on Main Market of Bursa Malaysia
Thursday, July 24, 2014

KUALA LUMPUR: Educations solutions provider Sasbadi Holdings Bhd debuted on the Main Market of Bursa Malaysia yesterday with an impressive premium of 56 sen upon opening bell, against an offer price of RM1.19 per share.The shares opened for trading at RM1.75, with some 3.6 million shares changing hands at the opening bell. Analysts had an indicative fair value of RM1.30 for Sasbadi shares....

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Job losses seen due to 'mega bank merger'
Wednesday, July 23, 2014

KUALA LUMPUR: The country’s largest bank union, National Union of Bank Employees (NUBE), has voiced its concern about possible job losses from the proposed “mega bank merger” between CIMB Group Holdings Bhd, RHB Capital Bhd (RHBCap) and Malaysia Building Society Bhd (MBSB), urging the central bank to come up with measures that could help safeguard employees of the merging banks....

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MIER: No more OPR hike in 2014, 25bps enough for now
Wednesday, July 23, 2014

KUALA LUMPUR: Local economic think tank Malaysian Institute of Economic Research (MIER) has said it does not expect any further hikes in the Overnight Policy Rate (OPR) from the recently raised level of 3.25%, which includes the recent 25 basis points (bps) on July 10.MIER's expectation over the monetary policy stance of Bank Negara Malaysia (BNM) this year is backed by the belief that...

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Can the BRICS reform global power relations?
Tuesday, July 22, 2014

The latest meeting of the BRICS countries, held in Brazil’s northeastern city of Fortaleza last week, represents the bloc’s most significant step towards its aim of building a new, multilateral development framework. 
 
After two years of negotiations, the geoeconomic grouping of emerging markets known as the BRICS – Brazil, China, India, Russia and South Africa – has broken new ground...

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Sona Petroleum signs SPA with UK-listed Salamander
Tuesday, July 22, 2014

KUALA LUMPUR:  Sona Petroleum Bhd is a step closer to concluding its maiden oil and gas (O&G) asset acquisition before year end after signing the Sale and Purchase Agreement (SPA) with UK listed Salamander Energy plc and Salamander Energy (Bualuang) Ltd (SEBG) for the purchase of a share in a brownfield asset off Thailand....

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MAS expected to present new business plan this week
Tuesday, July 22, 2014

KUALA LUMPUR: The shooting down of flight MH17 with the loss of 298 on board last week may have prompted Malaysian Airline System Bhd (MAS) to accelerate its plans for implementing a turnaround plan.The MH17 tragedy, MAS' second major disaster after the loss of MH370 four months ago, is unprecedented in any airline's history and has seriously affected the time line the management may have thought it had for a turnaround plan....

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Proton to apply for govt aid to support its R&D activities
Friday, July 18, 2014

KUALA LUMPUR: National carmaker Proton Holdings Bhd will apply for government aid on offer to support its research and development (R&D) initiatives, its CEO Datuk Abdul Harith Abdullah said.
He said Proton for the past 30 years has not received any annual incentives for its R&D initiatives and stressed that government support will help it to produce higher quality cars in the future....

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MAS union says 'yes' to privatisation plan
Friday, July 18, 2014

KUALA LUMPUR: Union leaders of national carrier Malaysian Airline System Bhd (MAS) will give full support to any restructuring plan undertaken by Khazanah Nasional Bhd and stakeholders, including a privatisation exercise by other parties. However, it has set some conditions to the potential deals.Echoing previous calls, the union reiterated that any new business restructuring plans must not...

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