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  • RAM reaffirms rating of CJ Capital’s RM114 million sukuk

    April 9, 2018 1:21 PM 8

    PETALING JAYA: RAM Ratings has reaffirmed the AAA/Stable rating of CJ Capital Sdn Bhd’s RM114 million sukuk murabahah (2010/2020). CJ Capital is a unit of Cahaya Jauhar Sdn Bhd (CJSB), which is a 60:40 joint venture between UEM Land Bhd and Johor state government via Permodalan Darul Ta’zim Sdn Bhd. It had been set up as a funding conduit to raise the sukuk

  • British accounting watchdog to bite harder with £10m fines

    April 9, 2018 7:44 AM 9

    The City of London financial district as seen with office skyscrapers in London January 25, 2018. — Reuters picLONDON, April 9 — The world's Big Four accounting firms will face potential fines of £10 million (RM54.5 million) or more for serious rule breaches from June, double the record penalty to date. The Financial Reporting Council (FRC) said today

  • Ireka, Japan's Hankyu Hanshin to develop RM400m Nilai property project

    April 9, 2018 7:06 AM 8

    PETALING JAYA: Ireka Corp Bhd is partnering with Japan's Hankyu Hanshin Properties Corp to develop a property development project called Rimbun Kasia in Nilai, Negeri Sembilan, which carries a gross development value (GDV) of over RM400 million. At 3pm, Ireka shares were up 5.5 sen or 9.5% to 63.5 sen on some 33,100 shares done. Ireka said in a statement

  • Novartis to buy AveXis in US$8.7b gene therapy deal

    April 9, 2018 6:26 AM 10

    Logo of Swiss drugmaker Novartis is seen at its branch in Schweizerhalle near Basel, Switzerland March 29, 2018. — Reuters picNEW YORK, April 9 — Novartis AG agreed to acquire AveXis Inc for US$8.7 billion (RM33.6 billion) to expand its position in gene therapy. Switzerland-based Novartis is buying the Bannockburn, Illinois, company for $218 a share

  • Japan’s current-account surplus makes an easy target for Trump

    April 9, 2018 3:23 AM 9

    Newly manufactured cars await export at port in Yokohama, Japan November 15, 2017. — ReuterTOKYO, April 9 — Japan’s swelling current-account surplus in February may be good news for the country’s finances, but not so much for its relationship with the US. “The current-account balance above two trillion yen is (RM72.3 billion) the sort of level that makes

  • Central Industries shares up on news of bonus issue

    April 9, 2018 3:12 AM 9

    PETALING JAYA: Central Industrial Corp Bhd's (CICB) share price rose one sen or 1.01% this morning, after it proposed to undertake a bonus issue of 40 million bonus shares to reward its existing shareholders. The bonus issue is on the basis of four bonus share for every five existing shares held by shareholders. At 10.50 am, the stock stood at RM1 with 5,000 shares

  • Pavilion Energy imports first LNG cargo for use in Singapore

    April 8, 2018 11:30 AM 10

    File picture shows a man looking as the world’s biggest Liquefied Natural Gas (LNG) tanker, Qatari-flagged DUHAIL as she crosses through the Suez Canal April 1, 2008. Pavilion Energy brought its first cargo of LNG to Singapore yesterday. — Reuters picSINGAPORE, April 8 — Singapore’s state-owned natural gas importer brought in its first cargo of a super-chilled

  • American Airlines orders 47 Boeing 787s, cancels A350 order

    April 7, 2018 6:36 AM 28

    SAN FRANCISCO: American Airlines has ordered 47 Boeing 787 Dreamliners in a deal valued at US$12 billion at list prices while cancelling a major order for Airbus A350s. The order comprises 22 787-8s scheduled to begin arriving in 2020 and 25 787-9s scheduled to begin arriving in 2023. They will gradually replace Boeing 767s and 777s along with European

  • Morgan Stanley CEO James Gorman pay up 20pc in 2017

    April 7, 2018 2:57 AM 10

    Gorman has been chief executive of the Wall Street bank since 2010. — Reuters picNEW YORK, April 7 — Morgan Stanley Chief Executive James Gorman’s overall pay rose 20 per cent to US$27 million (RM104.5 million) last year during a period that saw the firm’s net revenues rise 10 per cent and pre-tax profit margin rise 18 per cent, according to bank filings

  • China’s state media says US tariff ‘waywardness’ to end in defeat

    April 7, 2018 2:10 AM 9

    China warned yesterday it was ready with a ‘fierce counter strike’ of fresh trade measures. — AFP picSHANGHAI, April 7 — China’s official Xinhua news agency said today that US “waywardness” in its tit-for-tat tariff exchange will only end in defeat. China warned yesterday it was ready with a “fierce counter strike” of fresh trade measures if the United