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Business News

Business News


Kraft in swift reversal on Unilever bid, hitting shares

Mon, 20 Feb 2017 19:07:57 +08:00

LONDON: Kraft Heinz Co’s rapid retreat from its surprise US$143bil bid for Unilever in the face of stiff resistance from the company and politicians sent shares in the Anglo-Dutch group 8% lower on Monday.Kraft Heinz Co, backed by Warren Buffett and the private equity firm 3G, wants to become a global consumer foods giant. - AFP pic

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PPB Group Bhd's associate Wilmar Q4 profit rises 70%

Mon, 20 Feb 2017 18:58:28 +08:00

SINGAPORE: Singapore’s Wilmar International Ltd, the world’s largest palm oil processor, said its fourth-quarter net profit rose 70%, thanks to stronger results across its businesses, particularly its tropical oils and sugar segments.Pre-tax profit at Wilmar’s tropical oils segment rose 94% to US$184.3mil (RM821.61mil). - AFP pic

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IOI Corp posts pre-tax profit of RM128m in Q2 FY17

Mon, 20 Feb 2017 18:47:31 +08:00

KUALA LUMPUR: Plantation heavyweight IOI Corporation Bhd posted profit before tax (PBT) of RM128.80mil in the second quarter ended Dec 31, 2016, which was sharply lower than a year ago due to net foreign currency translation loss on foreign currency borrowings.

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RHB Research raises Malaysia’s export growth forecast to 6%

Mon, 20 Feb 2017 18:31:27 +08:00

KUALA LUMPUR: RHB Research Institute has revised upward Malaysia’s export growth forecast to 6% this year from an earlier expectation of 2%. RHB Research Institute gives a more bullish export forecast due to the recovery in demand for commodity products, among others. The photo shows Port of Tanjung Pelepas in Gelang Patah, Johor.

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Channel complaints to the right authorities, says SSM

Mon, 20 Feb 2017 18:12:58 +08:00

KUALA LUMPUR: The Companies Commission of Malaysia (SSM) has advised members of the public to identify the relevant ministry or government agency before channelling their complaints.

Malaysia Airlines offers 25% discount for China flights

Mon, 20 Feb 2017 18:05:21 +08:00

KUALA LUMPUR: Malaysia Airlines Bhd (MAB) is offering 25% discount for economy flights to Chinese cities of Nanjing, Haikou, Fuzhou and Wuhan for bookings made until Feb 28.Crew members checking in at KLIA. Malaysia Airlines says its baggage limits will only apply to flight to Paris and Amsterdam, January 5, 2016. GLENN GUAN/The Star

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KLCI closes at highest since April 2016

Mon, 20 Feb 2017 17:55:25 +08:00

KUALA LUMPUR: Fund buying of Genting and BAT pushed the FBM KLCI again to the highest since late April 2016 as key Asian markets picked up pace, especially China, while crude oil prices advanced.

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Malaysia’s consumer confidence seen to be weak - Nielsen

Mon, 20 Feb 2017 17:52:36 +08:00

KUALA LUMPUR: Consumer spending in Malaysia is expected to remain flat at best for the next six months, according to the forecast by market research firm Nielsen.About half of Malaysians (52%) polled by Nielsen believe their state of personal finances will be either not so good or bad in the next 12 months.

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Rubber industry has prospects for growth

Mon, 20 Feb 2017 16:37:54 +08:00

KLANG: Malaysia’s rubber industry is not a sunset industry following demand for high-value engineering rubber products from many countries, says Minister of Plantation Industries and Commodities, Datuk Seri Mah Siew Keong. Mah (centre) is accompanied by Kossan Rubber Industries Bhd managing director and CEO Datuk Lim Kuang Sia (second from left) and Doshin Rubber Products managing director Or Tan Teng (second from right) during his visit to the factory in Klang.

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Guocoland takes up 27% stake in Eco World International IPO

Mon, 20 Feb 2017 16:35:27 +08:00

KUALA LUMPUR: Eco World International Bhd (EWI) has signed a share subscription agreement with Guocoland Ltd, in which the latter will take up a 27% stake in EWI's enlarged issued and paid-up capital.  Eco World International Bhd president and CEO Datuk Teow Leong Seng said EWI expects to complete the IPO within the next two months

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