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September 5, 2018 7:51 AM EPF sees 7.64% increase in investment income in Q2

PETALING JAYA: The Employees Provident Fund (EPF) saw a 7.64% increase in total investment income to RM12.39 billion for the second quarter ended June 30, 2018 against RM11.51 billion in the previous corresponding period. In a statement released today, the pension fund's deputy CEO (Investment) Datuk Mohamad Nasir Ab Latif said the trading environment 13

September 5, 2018 6:58 AM Malaysia’s exports rise 9.4% to record high of RM86.1b in July

PETALING JAYA: Malaysia's exports expanded 9.4% year-on-year (yoy) to a record high of RM86.1 billion in July, driven by stronger growth in the electrical and electronics (E&E) and crude petroleum segments, according to the Department of Statistics. Re-exports in July 2018 was valued at RM18.7 billion and accounted for 21.7% of total exports. Domestic 14

September 5, 2018 6:35 AM Gabungan AQRS expects better years ahead on projects in hand and low costs

PETALING JAYA: Gabungan AQRS Bhd expects to perform better this year and next, based on projects in hand and low operating cost. Group CEO Datuk Azizan Jaafar said its construction order book of RM2.4 billion will sustain the group for the next three years while the property division is expected to start contributing to the group's earnings next year. Speaking 13

September 4, 2018 12:34 PM EPF: Rise in approvals for flexible withdrawals in Q2

PETALING JAYA: The Employees Provident Fund (EPF) reported that 40% more contributors reaching the age of 55 and 60 in the second quarter of 2018, opted to retain part of their savings with EPF to earn dividends. There was a 48.65% increase to 67,969 (RM2.92 billion) approved applications for “Age 55 Flexible Withdrawal” in the second quarter, compared 11

September 3, 2018 1:28 PM BNM seen holding key rate

KUALA LUMPUR: Bank Negara Malaysia (BNM) is expected to keep its benchmark interest rate unchanged at a meeting tomorrow, as it keeps tabs on how far the United States and China will take their ongoing trade war. All 11 economists polled by Reuters see BNM holding its overnight policy rate at 3.25%. Malaysia has raised its policy rate once this year – by 25 basis 6

September 3, 2018 5:44 AM Malaysia needs to double healthcare traveller numbers

KUALA LUMPUR: Malaysia needs to double its healthcare travellers to 2 million by 2020 to achieve the RM2.8 billion target in medical travel earnings, said Deputy Finance Minister Datuk Amiruddin Hamzah. He said SST will not be imposed on medical bills and this will help Malaysia to be competitive in offering medical travel. Amiruddin was speaking to reporters 6

September 3, 2018 5:36 AM AirAsia on track to sell remaining 30 aircraft, RM2.89b disposal proceeds received so far

PETALING JAYA: AirAsia Group Bhd said it is on track to complete the disposal of the remaining 30 aircraft and 14 aircraft engines under its plans to divest the aircraft leasing operations. It is the group's strategy to divest non-core assets and focus on its core airline operating business. The low-cost carrier told Bursa Malaysia that it had completed 5

September 3, 2018 5:03 AM Prasarana's new president is DRB-Hicom Bhd’s Datuk Mohamed Hazlan Mohamed Hussain

PETALING JAYA: DRB-Hicom Bhd’s group director of organisational support Datuk Mohamed Hazlan Mohamed Hussain is the new president and group CEO of Prasarana Malaysia Bhd. He will succeed Masnizam Hisham whose tenure ended on September 2, after a eight month stint. Prior to his appointment, Mohamed Hazlan served as head of several departments in DRB-Hicom 5

September 3, 2018 4:31 AM Azmin confirms HSR postponed with no fine, project to resume later

SHAH ALAM: Datuk Seri Mohamed Azmin Ali (pix) today confirmed an agreement has been reached to postpone the High-Speed Rail (HSR) project to a future date without any compensation, and that the project would resume once the deferral ends. The Economic Affairs Minister said the consensus with his Singapore counterpart was reached last week after a series 6

September 2, 2018 10:26 AM Modified cash accounting system also shows RM16b missing: Lim

PUTRAJAYA: A total of RM16 billion of unreturned taxes has remained missing from the Fund for Tax Refund Trust Fund (TBBC) regardless of whether the government uses the modified cash basis or the accrual accounting system, according to Finance Minister Lim Guan Eng. Responding to former prime minister Datuk Seri Najib Abdul Razak's Facebook post, he said according 32