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International reserves fall RM3.7b
Bank Negara?s international reserves fell RM3.74bil to RM400.18bil as at Aug 29 from RM403.92bil two weeks earlier.
IJM to take over ICP
Trading in the shares of IJM Corporation Bhd and Industrial Concrete Products was suspended from 2.30pm to 5pm on Friday ahead of announcement of a takeover by IJM.
Market broadly lower, regional markets decline
The stock market was broadly lower at midday on Friday but the losses were lower compared with the key regional peers as investors worried about a recession in the European Union.
Arisaig Fund sells 2m Asia File shares
The Arisaig Asen Fund Ltd disposed of 2.08 million shares in Asia File Corporation Bhd from Aug 29 to Sept 3.
Platinum Investment buys 10m Gamuda shares
Australia?s Platinum Investment Management Ltd continued to accumulate shares in Gamuda Bhd with the recent acquisition of 10 million shares on Aug 26.
Asian markets spooked by Wall St tumble
Asian markets fell in early trade on Friday as investors were spooked by the overnight tumble on Wall Street following a weaker economic outlook.
US stocks plummet
Dejected investors sent stocks plunging Thursday, hurtling the Dow Jones industrials down more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery.
TA Enterprise invests RM204m in Canadian hotel
TA Enterprise Bhd (TAE) is acquiring the Coast Whistler Hotel in British Columbia for C$33mil (RM107mil) as it makes its maiden foray into Canada?s hospitality industry.
Ho Hup seeks JV partners
Ho Hup Construction Co Bhd, which suspended its managing director a week ago, is looking for joint-venture partners to develop its 24.3ha of commercial land in Bukit Jalil. The project could potentially help the financially ailing company to turn around.
Astro won?t renew trademark accord with Lippo
Astro All Asia Networks Plc will not renew its trademark licence agreement, which expired on Aug 31, with Lippo group?s PT Direct Vision (PTDV), an Indonesian pay-TV provider, after a long and publicised tussle.
IOI on Forbes list again
IOI Corp Bhd is the only Malaysian company that has made it to the latest Forbes Asia Fabulous 50 List, which selects the best of Asia-Pacific?s biggest listed firms out of 500 in the world.
Exporters see stronger sales with weaker ringgit
The weaker ringgit is a welcome relief for exporters and many are expecting this to translate into higher sales.
Greenback bouncing back?
After about a month of gains for the US dollar, some global currency strategists are beginning to declare a dollar recovery, but there are dissenting voices among the crowd.
Sealink unfazed by higher material costs
Sealink International Bhd, an integrated service provider which owns, charters and builds a diverse fleet of vessels, is not concerned with the current turbulent economy and escalating material costs.
IEC-ex cert for Siemens unit
Siemens Industrial Workshop Sdn Bhd (SIW), which is a part of the Siemens group of companies in Malaysia, has received the IEC-ex certification of European Standard from Britain-based SIRA.
KTB hard hit by rising operating costs
Konsortium Transnasional Bhd (KTB) is in a tough industry that is facing high operating costs. The country?s largest bus operator posted losses for the second consecutive quarter ended June 30.
Concern over scope of reinvestment allowance
WHAT stands out upon a close look at Budget 2009 is that it is one of the few budgets where investment incentives are not given prominence.
New data centre in Kedah
Kedah will host the RM135mil Northern Data Exchange Centre (NDEC), the first such centre in the northern region.
HwangDBS targets RM300mil fund size
HwangDBS Investment Management Bhd targets its latest fund, the HwangDBS Steady Income Fund (STDIF), to reach RM300mil by next year, chief executive officer and executive director Teng Chee Wei said yesterday.
BIMB profit surges 40%
BIMB Holdings Bhd that holds 51% of Bank Islam Malaysia Bhd, reported a 40% surge in profit before zakat and tax to RM382.6mil for the financial year ended June 30 (FY08), against RM273.2mil in FY07.
OCBC expanding in Islamic financing
OCBC Bank (M) Bhd?s Islamic banking business will expand financing by around 20% a year as it launches new syariah-compliant products and as more Malaysians make the switch from conventional banking, its chief executive said.
HSBC starts syariah-compliant investment
HSBC Bank Malaysia Bhd?s newly launched syariah-compliant structured investment-linked plan, HSBC Amanah Takaful Structured Investment-Linked Plan, will be offered till Oct. 10.
Misused loans corrected, says China?s CDB
China Development Bank (CDB), a state lender with a roughly 3% stake in Barclays, said yesterday it had corrected most of its errors unearthed in a recent government audit.
StanChart to hire more for HK consumer banking
Standard Chartered Plc, the UK bank that gains most of its profit in Asia, aims to employ 50% more staff at its consumer banking unit in Hong Kong even as it projects slower growth in the city.
New Delhi court rejects Ramunia?s petition
Ramunia Holdings Bhd suffered a setback in its petition to order Oil and Natural Gas Corp Ltd (ONGC) to award an oil contract to its unit, Ramunia Fabricators Sdn Bhd (RFSB).
Market Trends
Izwan Idris writes on the trends in the markets here and elsewhere.
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