8/27 The Star Online: Business

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The Star Online: Business - Update: Wednesday, August 26, 2009 MYT 6:14:35 PM GDP contracts at slower pace of 3.9% for Q2 August 26, 2009 at 6:10 am Malaysia's economy contracted at a slower pace of 3.9% for the second quarter ended June 30 (Q2) compared to a year ago as the effects of the fiscal measures totalling RM67bil by the Government begin to kick in. IOI Corp Q409 net profit falls 18% y-o-y August 26, 2009 at 4:38 am IOI Corp reported a net profit of RM487.1mil for its fourth quarter ended June 30, 18% lower than the RM597.3mil recorded for the same quarter last year mainly on lower profit contributions from the plantation and manufacturing segments as well as an impairment loss of RM242.8mil recognised on a development property in Singapore. Mudajaya net profit up 95% August 26, 2009 at 2:51 am Construction company Mudajaya Group posted a net profit of RM26.48mil for its Q209, 95% up from RM13.59mil a year ago on increased level of construction activities. MPHB Q209 net profit up 150% y-o-y August 26, 2009 at 2:04 am Multi-Purpose Holdings Bhd (MPHB) reported a net profit of RM127.4mil for its second quarter ended June 30, up 150% from RM50.9mil a year earlier on higher investment income and gains on disposal of quoted investments within the group. FBM KLCI down at mid-day August 26, 2009 at 1:03 am The FBM KLCI closed lower at mid-day as investors continued to be cautious ahead of the release of the country's 2Q09 gross domestic product (GDP) figures this evening. MAS well placed to expand in 2011:CEO August 25, 2009 at 11:36 pm Malaysia Airlines, the national carrier expects passenger traffic to return to pre-crisis levels in 2011, chief executive officer Datuk Seri Idris Jala said. Asian stocks rise in early trade August 25, 2009 at 9:55 pm Asian stock markets were mainly higher in morning trade Wednesday taking their cue from overnight Wall Street gains. Genting Plantations Q2 net profit almost halves August 25, 2009 at 8:13 pm PETALING JAYA: Genting Plantations Bhd posted a net profit of RM59.6mil for the second quarter ended June 30, a decline of 48.7% from RM115.9mil in the previous corresponding period, due to lower palm product prices and a decline in fresh fruit bunches production. Asian markets fall as investors stay on sidelines August 25, 2009 at 8:11 pm PETALING JAYA: Most Asian markets including Bursa Malaysia traded lower yesterday with some of them suffering sharp losses as investors stayed at the sidelines. Goh family reassessing position in GBH August 25, 2009 at 8:09 pm PETALING JAYA: The Goh family will reassess its position in ceramic maker and sanitary-ware supplier, Goh Ban Huat Bhd (GBH), following the emergence of Tan Sri Robert Tan Hua Choon as the controlling shareholder on Monday. Maybank posts loss on RM1.7bil charge August 25, 2009 at 8:07 pm KUALA LUMPUR: Malayan Banking Bhd (Maybank) posted a net loss of RM1.12bil in its fourth quarter, hit by an impairment bill of RM1.73bil from the acquisition of banking assets in Indonesia and Pakistan, but sees a much better performance in its current financial year. Penang raises density for property development August 25, 2009 at 8:02 pm GEORGE TOWN: The state government has raised the density for property development in Penang, which will bring down land cost and stabilise property prices, said Hunza Properties Bhd executive chairman Datuk Khor Teng Tong. CIMB-Principal aims to increase fund size August 25, 2009 at 8:01 pm KUALA LUMPUR: CIMB-Principal Islamic Asset Management Sdn Bhd, which has US$1.3bil worth of assets under management as at June 30, is targeting to increase its fund size to US$1.7bil by year-end. Should I go against the market? August 25, 2009 at 7:53 pm AS the stock market continues to move higher, a lot of investors are wondering when it will come down again. Those who have been involved in futures trading may be tempted to short the KL Composite Index (KLCI) futures contracts. Bright outlook for micro credit, say banks August 25, 2009 at 7:40 pm PETALING JAYA: Malaysian banks are projecting a bright outlook ahead for micro credit after the segment registered a strong performance in the first six months of this year, with the sector seen as less affected by the economic slowdown and under-served with rising demand. White House, Congress projects record US$1.6tr deficits August 25, 2009 at 7:33 pm WASHINGTON: The U.S. government faces exploding deficits and mounting debt over the next decade, White House and congressional budget officials projected Tuesday in competing but similar economic forecasts. US pessimism about the economy appears to be lifting August 25, 2009 at 7:27 pm WASHINGTON: Americans' pessimism about the economy appears to be lifting, with consumer expectations for the next six months hitting their most positive point since the recession began. Oil touches ten-month high of US$75, then tumbles August 25, 2009 at 7:21 pm HOUSTON: Oil prices fell more than 3 percent Tuesday after a new report from Washington projected a cumulative US$7 trillion U.S. deficit for the next decade. US stocks higher on gain in consumer confidence August 25, 2009 at 7:17 pm NEW YORK: A rebound in consumer confidence and more healing in the housing industry have put U.S. stocks back on an upward path. Double-digit growth for Honda sales August 25, 2009 at 7:09 pm TOKYO: Honda Motor Co's car sales in Japan rose 13% in the first three weeks of August from the same period last year, helped by government incentives to boost auto demand, two sources familiar with the matter said. JAL eyes US$1b cost savings in route rejig August 25, 2009 at 7:08 pm TOKYO: Struggling Japan Airlines Corp is considering separating low-margin international routes into another company to help save 100 billion yen (US$1.1bil) in annual costs, the Nikkei business newspaper said. Analysts cautious on PetGas earnings growth August 25, 2009 at 7:04 pm PETALING JAYA: Analysts are cautious on the earnings growth potential of Petronas Gas Bhd (PetGas) going forward as the company negotiates a fourth gas processing transmission agreement (GPTA) with parent company Petroliam Nasional Bhd (Petronas), and as the group faces a weaker outlook in the natural gas sector amid higher operating costs. Alcom expects to return to the black as export demand rises August 25, 2009 at 7:03 pm PETALING JAYA: Aluminium Co of Malaysia Bhd (Alcom) hopes to return to the black in the financial year ended March 31 (FY10) as export demand for aluminium products shows sign of improvement. Plastic resin price to rise 5% August 25, 2009 at 7:00 pm GEORGE TOWN: The Malaysian Plastic Manufacturers Association (MPMA) expects the price of linear low-density polyethylene (LLDPE) plastic resin to rise by about 5% next month. Prestar units undergo revamp August 25, 2009 at 6:58 pm KUALA LUMPUR: Prestar Resources Bhd wholly-owned units Prestar Tooling Sdn Bhd and Prestar Galvanising Sdn Bhd have undergone an internal restructuring exercise involving the transfer of business through sales of assets of RM819,098, GPlus fails to submit report August 25, 2009 at 6:57 pm KUALA LUMPUR: Golden Plus Holdings Bhd (GPlus), which has been suspended from trading since Aug 3 for failing to submit its financial statements for the financial year ended Dec 31, 2008 will continue to be suspended. Two divisions pull IJM Q1 profit August 25, 2009 at 6:56 pm SUBANG JAYA: IJM Corp Bhd's net profit in the first quarter ended June 30 dropped 22.5% to RM70.8mil from RM91.3mil in the previous corresponding period mainly due to lower contribution from the construction and plantation divisions. Experts to speak at financial law forum next month August 25, 2009 at 6:55 pm KUALA LUMPUR: The South East Asian Central Banks-Bank Negara Banking and Financial Law School 2009 (BFLS) will be held here on Sept 24-25. QL Resources to beef up core activities August 25, 2009 at 6:54 pm KUALA LUMPUR: QL Resources Bhd will allocate RM280mil capital expenditure to upgrade its existing plants and develop its plantation in Indonesia. Bank Negara maintains interest rate, sees economy stabilising August 25, 2009 at 6:51 pm PETALING JAYA: Bank Negara left the overnight policy rate (OPR) unchanged at 2% for the fourth time this year, in line with economists' expectation. Sime Darby: Fomca's concerns unfounded August 25, 2009 at 6:50 pm KUALA LUMPUR: Sime Darby Bhd says concerns raised over the methods used by the group in abstracting groundwater are unfounded, and that the technology used by the group is viable. Off-market trade in 2.1% of AirAsia August 25, 2009 at 6:49 pm KUALA LUMPUR: AirAsia Bhd had a 2.1% stake traded off-market for RM72mil yesterday, according to stock exchange data. UM Land ties up with Tradewinds Johor August 25, 2009 at 6:48 pm PETALING JAYA: United Malayan Land Bhd (UM Land) has proposed a joint venture with Tradewinds Johor Sdn Bhd to govern Extreme Consolidated Sdn Bhd (ECSB), and to participate in a property development project in Kulai, Johor. More planning needed for foreign listings August 25, 2009 at 6:47 pm IT is hard to please everybody. Just when the number of foreign listings is looking up on Bursa Malaysia, the critics say there should be more planning in the type of China listings that are put up, where the focus has been on shoemakers. Axiata not for sale August 25, 2009 at 6:45 pm PETALING JAYA: Sources close to Khazanah Nasional Bhd say Axiata Group Bhd is a core asset for the government investment agency and not for sale.   This email was sent to excelea@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.