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  • Sime Darby completes sale of MLDC

    September 20, 2017 7:07 AM 4

    KUALA LUMPUR: Sime Darby Bhd's unit has completed the sale of its entire stake in Malaysia Land Development Company Bhd (MLDC) to Datuk Seri Tong Seech Wi for RM1 cash consideration. It said on Wednesday Sime Darby Property Bhd had sold the stake, comprising of 5.069 million shares, under the share sale agreement on April 3. MLDC's core activities are property

  • Brem Holdings hopeful of improvement in profitability this financial year

    September 20, 2017 6:06 AM 3

    PETALING JAYA: Brem Holdings Bhd which has been seeing a downward trend in net profit for the last three financial years, is hoping to see "some improvement" in the current financial year. Speaking to reporters after the group's AGM, its managing director Tan Sri Khoo Chai Kaa said that the group is banking on its construction and civil engineering segment

  • Bank Negara approves WorldRemit ops under new regulatory Sandbox programme

    September 20, 2017 4:23 AM 3

    KUALA LUMPUR/LONDON: WorldRemit, a leading digital money transfer company, is launching operations in Malaysia. This follows the company's acceptance as one of only four initial entrants into Bank Negara's Financial Technology Regulatory Sandbox in June - and the appointment of Ridzuan Aziz, a senior Malaysian business leader with experience in compliance

  • Inflation rate up 3.7% in August, exceeds forecast

    September 20, 2017 4:23 AM 4

    KUALA LUMPUR: Malaysia's inflation rate rose at a faster pace of 3.7% in August 2017 from a year ago, exceeding a forecast of a 3.4% increase, mainly fuelled by higher petrol prices. The Statistics Department said on Wednesday the average price of one litre of RON95 petrol was RM2.12 in August versus RM1.75 a year ago. As for RON97, the average price

  • AWC shares continue to rise after job win

    September 20, 2017 2:55 AM 4

    PETALING JAYA: AWC Bhd's shares continued to rise by 0.94% this morning after its unit Ambang Wira Sdn Bhd bagged a RM24.38 million contract from the Public Works Department for the facilities management of Palace of Justice in Precinct 3, Putrajaya. As at 10.29am, AWC's share price stood at RM1.07 with 322,200 shares changing hands. It has a market

  • Fiat Chrysler recalls 494,000 pickup trucks for fire risk

    September 19, 2017 5:10 PM 5

    WASHINGTON: Fiat Chrysler Automobiles NV said Tuesday it will recall 494,000 medium and heavy-duty Ram pickup trucks worldwide because of a water pump that could overheat and potentially cause a fire. The recall includes 2013-2017 model year Ram 2500 and 3500 pickup trucks with 6.7-liter diesel engines, including 443,000 vehicles in the United States

  • MRT Corp awards RM345mil contracts to WCT and MRCB

    September 19, 2017 3:38 PM 6

    KUALA LUMPUR: Mass Rapid Transit Corp Sdn Bhd (MRT Corp) has awarded two contracts to build elevated stations totalling RM345.3mil to WCT Holdings Bhd and Malaysian Resources Corp Bhd (MRCB). WCT told Bursa Malaysia that its unit WCT Bhd had secured a RM199.5mil job to build elevated stations at Kuchai Lama and Taman Naga Emas, Kuala Lumpur. In November

  • Avillion appoints Amirul Azhar as acting group CEO

    September 19, 2017 3:38 PM 4

    KUALA LUMPUR: Avillion Bhd (formerly Reliance Pacific Bhd) has appointed Amirul Azhar Baharom as acting group chief executive officer. In a filing with Bursa Malaysia, the hospitality industry player said Amirul, 44, was deputy chief executive prior to this appointment, which was effective Tuesday. He was appointed to the Avillion board on Dec 16, 2015, and was subsequently

  • McKinsey acquires KL-based VLT Labs

    September 19, 2017 3:38 PM 5

    KUALA LUMPUR: McKinsey & Co has acquired VLT Labs, a Malaysian digital business builder and product development studio. In a statement, McKinsey said VLT Labs’ talent would further boost the company’s digital capabilities in Asia where demand was fast growing and with a view to help local organisations become regional and global leaders in a digital

  • SEB loses bid to stop Prasarana from getting new contractor for monorail job

    September 19, 2017 12:39 PM 5

    PETALING JAYA: Scomi Engineering Bhd (SEB) has lost its bid to stop Prasarana Malaysia Bhd from appointing another contractor to complete KL Monorail fleet expansion job. In a filing with Bursa Malaysia, the company said its action has been rejected by the High Court today, with costs of RM20,000. The action by SEB was pending arbitration proceedings