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Category: Economic

KLSE News: 29 May 2015 -UMW Holdings is looking to diversify its revenue streams in FY15 to reduce its dependency on the automotive segment…

UMW Holdings is looking to diversify its revenue streams in FY15 to reduce its dependency on the automotive segment. Chairman Tan Sri Asmat Kamaludin said for FY14, the automotive segment contributed about 80% towards total group revenue, driven by high sales of Perodua cars. “We are currently in talks with several partners on the diversification […]

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KLSE News: 28 May 2015 – Genting Bhd’s joint venture Genting Simon Sdn Bhd has started work on the RM200m Genting Premium Outlets…

Genting Bhd’s joint venture Genting Simon Sdn Bhd has started work on the RM200m Genting Premium Outlets – which will be Southeast Asia’s first hilltop Premium Outlet Centre. Genting Simon said the development would cover 600,000 square feet is targeted for completion in the last quarter of 2016. Built on Genting Highlands Resort, Genting Premium […]

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KLSE News: 27 May 2015 – IFCA MSC shares rebounded by 9% after falling to its lowest since mid-Apr as the company’s chief sought to engage with the investment community…

IFCA MSC shares rebounded by 9% after falling to its lowest since mid-Apr as the company’s chief sought to engage with the investment community. “It’s business as usual, all our plans are in tact,” CEO Ken Yong said in a conference call with some 20 fund managers and analysts yesterday. Philip Voo Lip Sang, its […]

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KLSE News: 26 May 2015 – Uzma Bhd’s 40% owned Sazma Aviation Sdn Bhd has secured two contracts worth RM166.5m from Petroliam Nasional Bhd’s (Petronas)…

Uzma Bhd’s 40% owned Sazma Aviation Sdn Bhd has secured two contracts worth RM166.5m from Petroliam Nasional Bhd’s (Petronas) unit to provide aviation services. It said on Monday the first contract valued at RM12.5m which was secured from Petronas Carigali Sdn Bhd was to provide helicopter services for the national oil company’s well drilling operations […]

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KLSE News: 22 May 2015 – MY E.G. Capital Bhd (MyEG) is buying a 55% stake in software solutions and credit card terminal rental company Cardbiz Holding Sdn Bhd for RM6.2m…

MY E.G. Capital Bhd (MyEG) is buying a 55% stake in software solutions and credit card terminal rental company Cardbiz Holding Sdn Bhd for RM6.2m. It told Bursa Malaysia that its unit, MY E.G Capital Sdn Bhd, had signed conditional agreements on Thursday to acquire and subscribe for 61.6m 10 sen shares in Cardbiz, which […]

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KLSE News: 21 May 2015 – Axiata Group Bhd, the parent company of Celcom Axiata Bhd, expects to increase its 4G LTE coverage for 35% of Malaysian population…

Axiata Group Bhd, the parent company of Celcom Axiata Bhd, expects to increase its 4G LTE coverage for 35% of Malaysian population from 20% currently. President and Group Chief Executive officer Datuk Seri Jamaludin Ibrahim said the increase would be driven by its major capital expenditure of RM4.8bn for 2015. “We have spent RM1bn across […]

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KLSE News: 20 May 2015 – AirAsia Bhd has come out to deny a report which said that it is in talks to sell a minority stake in its loyalty programme joint venture to private equity firms…

AirAsia Bhd has come out to deny a report which said that it is in talks to sell a minority stake in its loyalty programme joint venture to private equity firms. The deal would have valued the loyalty programme at US$330m (RM1.2bn), Reuters had reported. AirAsia CEO Aireen Omar said in a statement. “Our AirAsia […]

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KLSE News: 19 May 2015 – Malayan Banking Bhd (Maybank) is selling its operations in Papua New Guinea for RM418m…

Malayan Banking Bhd (Maybank) is selling its operations in Papua New Guinea for RM418m, as it focuses its efforts and resources to expand in markets in Asean and greater China. “This decision to dispose of our operations in PNG is a result of strategic reviews carried out regularly at the group to reprioritise our capital […]

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KLSE News: 18 May 2015 – Eco World Development Group Bhd (EcoWorld Bhd) is making a foray into Singapore with the opening of its first international EcoWorld Gallery@Singapore…

Eco World Development Group Bhd (EcoWorld Bhd) is making a foray into Singapore with the opening of its first international EcoWorld Gallery@Singapore. Located on St Martin’s drive, the EcoWorld Gallery@Singapore will showcase EcoWorld projects in Malaysia and overseas. Currently, the group has 15 projects located in three key economic regions in Malaysia namely the Klang […]

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KLSE News: 14 May 2015 – Perdana Petroleum announced that the trading of its shares will be suspended today…

Perdana Petroleum announced that the trading of its shares will be suspended today. Yesterday, the company received a letter from its shareholder Dayang Enterprise that intends to enter “into a material corporate transaction involving Perdana”. The trading of Dayang’s shares will be suspended today as well. (BMSB) As highlighted in our 26 Mar note, we […]

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