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Blue chips rally ahead of Budget
Blue chips chalked up their biggest gains this week, powered by bank stocks and selected plantation stocks, ahead of the Budget 2009 proposals to be announced this Friday afternoon.
Sustaining, stimulating the economy
WHILE we debate what goodies Budget 2009 has in store for us today, a matter that should not be forgotten is how the Government is going to sustain and stimulate the economy through its fiscal policies.
Bumi Raya ups offer for Harrison shares to RM1.45
Bumi Raya International Holding Company Ltd has revised its takeover offer for Harrison Holdings (Malaysia) Bhd shares from RM1.20 per share to RM1.45.
KLCI firmer ahead of Budget
Blue chips were firmer in early trade on Friday, as investors? sentiment perked up ahead of the Budget announcement and also the stronger overnight close on Wall Street.
US stocks jump on GDP, jobs data
Wall Street barrelled higher Thursday after a better-than-expected reading on the gross domestic product and a drop in jobless claims gave investors some reassurance that the economy is holding up. The Dow Jones industrial average jumped more than 200 points.
Expectation of income relief to boost domestic spending
Excitement today is focused on what the Government would do to put back some disposable income into the economy and boost domestic consumption.
Unico-Desa chairman: Share transactions followed rules
Transactions in Unico-Desa Plantations Bhd shares were in full compliance with the listing regulations, said chairman Tan Sri Ngan Ching Wen.
BLand signs pact to develop golf resort in Libya
Berjaya Land Bhd (BLand) has entered into a memorandum of agreement with Libya?s Economic and Social Development Fund (ESDF) and the OYIA company to develop an integrated golf resort cum residential and commercial development in Libya.
Commodity prices to stay at current levels
Commodity prices will remain at the current level until year-end, says PPB Group Bhd chairman Datuk Oh Siew Nam.
Lower product prices hit Lion Industries
Lion Industries Corp Bhd?s performance in the first half year ending Nov 30 will be affected by an estimated lower average selling price for hot briquetted iron (HBI) and steel products, according to an analyst.
SMEs told to diversify and enter new markets
Local small and medium enterprises (SMEs) should diversify their businesses and penetrate new markets, said SMI Association of Malaysia national president Chua Tiam Wee.
Asean inks FTA pact with Australia and NZ
Asean charted a major milestone yesterday, concluding years of free trade agreement (FTA) negotiations with India and Australia-New Zealand.
Glomac reviewing property launches
Glomac Bhd is reviewing its property launches given the current challenging environment of inflationary pressures and the slowdown in demand for medium-range residential properties.
TNB hopes talks on power purchasing agreements can end by June
Tenaga Nasional Bhd (TNB) hopes that the re-negotiation of power purchasing agreements (PPAs) can be concluded by June, president and chief executive officer Datuk Seri Che Khalib Mohamad Noh said yesterday.
Taxation regime for REITs
Streamlining and reducing the withholding tax could provide a boost to the domestic real estate investment trust industry
MD: Proton can sustain earnings
Proton Holdings Bhd is confident of sustaining earnings for the rest of the current year ending March 31 (FY09) on improving domestic sales and doubling of exports.
Genting profit down despite higher revenue
Genting Bhd posted a 23.4% drop in net profit to RM551.9mil for the second quarter ended June 30, versus a year earlier, despite turning in higher revenue.
UEM World posts net profit of RM19.6mil
UEM World Bhd reported net profit of RM19.62mil for the second quarter ended June 30, a contrast from RM498.17mil a year earlier due to the absence of a one-off gain from land sale in June last year.
MRCB sees better results in fourth quarter
Malaysian Resources Corp Bhd (MRCB) expects a better fourth quarter on the back of moderating construction and building material prices, says group managing director Shahril Ridza Ridzuan.
Alcom posts RM6mil first quarter net profit
Aluminium Co of Malaysia Bhd (Alcom) has posted a net profit of RM6.2mil on revenue of RM102.4mil for its first quarter ended June 30 despite challenging market conditions.
Celcom profit up 29%
Celcom (M) Bhd has reported a 29% jump in net profit to RM631mil for the six months ended June 30 on a 10% growth in revenue to RM2.71bil against RM2.47bil a year ago.
Muhibbah Engineering posts RM21.5m second quarter profit
Muhibbah Engineering (M) Bhd posted net profit of RM21.53mil in the second quarter ended June 30, a 19.6% improvement from RM18mil a year ago, lifted by its infrastructure construction and shipyard divisions.
Diageo posts 11% jump in annual earnings
Diageo Plc, the world?s biggest alcoholic drinks group, yesterday met forecasts with an 11% rise in annual earnings, but cut its profit growth target due to the economic slowdown and rising input costs.
Agricole second-quarter profit hit by loss at Calyon
Credit Agricole, France?s biggest retail bank, reported yesterday a 94% fall in second-quarter profit with earnings hit by a widely expected loss at its Calyon investment banking division.
Corporate results in brief
Corporate results from Sunrise, MAHB, Petronas Dagangan, CCM, AirAsia, KPS, RHB Capital and Oriental Holdings.
AMMB, ANZ venture into new business
AMMB Holdings Bhd via subsidiary AmBank has signed a technical services agreement with the Australia and New Zealand Banking Group Ltd (ANZ) to establish a foreign exchange, interest rate and commodities derivatives business.
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