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  • Road to bitcoin ETF paved with red tape

    January 10, 2018 12:13 AM 11

    Bitcoin’s 1,500 per cent surge last year has stoked investor demand for any product with exposure to the red-hot asset. - File picNEW YORK, Jan 10 — The going is getting tough for US companies hoping to win the race to bring a bitcoin exchange-traded fund to market. Bitcoin’s 1,500 per cent surge last year has stoked investor demand for any product with exposure

  • Palm oil export earnings forecast to hit RM80b in 2018

    January 9, 2018 8:43 AM 11

    Mah said the government has forecast that the production of CPO will exceed 20 million tonnes for this year. — Reuters picKUALA LUMPUR, Jan 9 — The government is optimistic in obtaining RM80 billion in revenue for crude palm oil (CPO) export earnings this year, Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said today. “We are confident

  • Malaysian automotive market to reach 601,000 units in 2018

    January 9, 2018 8:16 AM 9

    KUALA LUMPUR: Frost & Sullivan forecasts Malaysia's vehicle sales to reach 601,000 units in 2018 at a growth rate of 2%, on the back of positive economic growth driving consumer confidence throughout the year. Frost & Sullivan Senior Vice President of Mobility Vivek Vaidya said the strengthening ringgit is likely to reduce the import costs of parts and complete

  • Indonesia to open over billion dollar tender for Borneo gas pipelines

    January 9, 2018 8:06 AM 8

    The proposed pipelines would be for transmission and distribution, said regulator chairman Muhammad Fanshurullah Asa. — Reuters picJAKARTA, Jan 9 — Indonesia will open a tender in 2018 for the development of three pipelines to transport and distribute gas from the Natuna area to the island of Borneo, the chairman of the country’s downstream oil and gas regulator

  • Malakoff shares flat despite two new renewable energy projects

    January 9, 2018 3:37 AM 9

    PETALING JAYA: Shares of Malakoff Corp Bhd was flat at RM1.02 this morning, despite announcing its plans to co-develop two energy projects, namely large scale solar photovoltaic and mini hydro power in Pahang, with an estimated total development cost of RM1.3 billion. As at 10.56am, the stock stood at RM1.02 with 13.2 million shares changing hands. The group

  • Saudi Telecom gets RM1.5b Islamic loan

    January 8, 2018 1:31 PM 13

    SYDNEY: Saudi Telecom Co (STC) has obtained a RM1.51 billion Islamic loan through its Malaysian subsidiary, according to a document from arranging banks. Saudi Telecom, the Gulf’s largest telecommunications operator by market value, will use the Islamic loan to refinance existing debt originally used to acquire a stake in telco firm Maxis. STC, through

  • MRCB-Quill to sell office building for RM28m

    January 8, 2018 12:08 PM 10

    PETALING JAYA: MRCB-Quill Real Estate Investment Trust (MQReit) is planning to sell its office building, known as Quill Building 8 - DHL (XPJ) for RM28 million cash, to repay loans, asset enhancement, property investment and working capital. In a filing with Bursa Malaysia, MQReit said its trustee, Maybank Trustees Bhd has entered into a sale and purchase

  • Rakuten recommends ‘buy’ call on Binasat

    January 8, 2018 6:48 AM 20

    Screengrab of the Binasat online portal.KUALA LUMPUR, Jan 8 — Online stock trading company Rakuten Trade Sdn Bhd has recommended a ‘buy’ call on Binasat Communications Bhd with a target price of 65 sen from its initial public offering price of 46 sen. In a note today, Rakuten said the ‘buy’ call was based on its 13 times price to earnings ratio for the financial

  • MESB gets exclusive licence to distribute "Crocodile" products

    January 8, 2018 5:22 AM 10

    PETALING JAYA: Leather products retailer MESB Bhd has been granted an exclusive licence to use the "CROCODILE" trademark for the design, manufacture, advertisement, distribution, sale and promotion of the "Crocodile" Men's apparel and innerwear products. MESB told Bursa Malaysia that its wholly owned subsidiary Miroza Leather (M) Sdn Bhd had on January

  • Ringgit opens at 19th month high

    January 8, 2018 4:47 AM 12

    KUALA LUMPUR: The ringgit continued its upward momentum to open at a 19th month high of 3.9880/9930 against the US dollar today, on improved sentiment towards the local note. It was prompted by the strong trade surplus, as well as, expectations of a hike in the Overnight Policy Rate (OPR) by Bank Negara Malaysia this year. The local unit, which last touched