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  • Sunway records lower pre-tax profit in Q1

    May 29, 2017 12:19 PM 5

    KUALA LUMPUR, May 29 — Sunway Bhd’s pre-tax profit fell to RM153.12 million in the first quarter ended March 31, 2017 from RM176.08 million in the same period last year on the back of lower contribution from several business segments. The group is a conglomerate with core interests in property, construction, education and healthcare. Revenue for the quarter

  • Former company shareholder charged with disposing of 10.2m shares

    May 29, 2017 11:28 AM 5

    KUALA LUMPUR: A former shareholders of a textile company with Datuk title, pleaded not guilty at the Sessions Court here today to four counts of disposing of 10.2 million security shares of Maxbiz Corporation Berhad (Maxbiz), seven years ago. Datuk Leong Wye Keong, 62, made the plea after the charges were read to him before Judge Zulqarnain Hassan

  • BA flights disrupted for third day after IT crash

    May 29, 2017 11:27 AM 5

    LONDON: Passengers faced a third day of disruption at Heathrow on May 29 as British Airways cancelled short-haul flights after a global computer crash that unions blamed on the outsourcing of IT services to India. The embattled airline said it was cancelling 13 short-haul flights from Heathrow Airport, Europe’s busiest, but was aiming to operate a full long-haul

  • BMW says shortage of parts from Bosch hampers production

    May 29, 2017 10:46 AM 5

    File photo of security personnel walking inside a BMW factory in Shenyang July 6, 2013. BMW said a shortage of Bosch parts have slowed down production in China and South Africa. — Reuters picFRANKFURT, May 29 — German carmaker BMW said a shortage of steering gears supplied by Robert Bosch slowed production of its 1 series, 2 series, 3 series and 4 series

  • ML Global to invest RM40 million in pre-cast panels plant

    May 29, 2017 6:10 AM 5

    PETALING JAYA: ML Global Bhd, which expects to double its orderbook to RM2 billion, is planning to set up a plant to manufacture pre-cast panels. Executive director and CEO Datuk Richard Lim Lit Chek said the group is currently in the planning stage and expects to invest about RM30 million to RM40 million on the first phase of the plant. "We will bring

  • More Heathrow chaos as BA scrambles to recover from IT crash

    May 29, 2017 4:54 AM 6

    LONDON: Thousands of travellers faced further chaos on May 28 as British Airways cancelled more than a hundred flights from London’s Heathrow Airport following an IT system failure. Around a quarter of Sunday’s flights set to depart from London’s major hub before 10pm (2100 GMT) were cancelled as the airline battled to contain the “knock-on disruption

  • Local companies secure potential sales of RM96.58m at PLMA 2017

    May 29, 2017 4:09 AM 7

    KUALA LUMPUR, May 29 — Nine Malaysian companies secured potential sales of RM96.58 million at the World of Private Label International Trade Show (PLMA) 2017, a 43 per cent increase compared to the RM67.63 million generated by 10 small and medium enterprises (SMEs) last year. Held in Amsterdam, the Netherlands from May 16-17, Malaysia’s participation

  • Manulife back as substantial shareholder in Engtex

    May 28, 2017 11:54 PM 4

    In a filing with Bursa Malaysia, Manulife said its wholly-owned subsidiary, Manulife Asset Management Services Bhd, had last Wednesday bought 17.86 million shares representing 5.29% in Engtex. It did not disclose the price of the shares it bought, but based on Engtex’s closing price of RM1.39 last Friday, the shares were worth about RM24.82mil. Manulife

  • Lii Hen at higher high, says AllianceDBS Research

    May 28, 2017 10:14 PM 4

    KUALA LUMPUR (May 29): AllianceDBS Research said Lii Hen Industries Bhd (Liihen) had on May 26 crossed over the RM3.27 hurdle to reach an intraday high of RM3.31 before closing at RM3.25 (up 2 sen or 0.61%). In its evening edition last Friday, the research house said Liihen continued to trade above the 20-day and 50-day moving average lines

  • Did the Malaysian Government effectively pay Geely to acquire Proton, asks Tony Pua

    May 28, 2017 9:59 PM 5

    After more than a decade of tie-up talks with car manufacturers around the world, including repeated on-off talks with Volkswagen, Proton finally tied the knot with China’s rising upstart Geely, which took over the Swedish Volvo in 2010. The debate since has focused on two issues – first, the “loss” of a “national car” and second, the Government relieved