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August 14, 2018 3:39 PM AirAsia sells remaining 25% share of joint venture with Expedia for US$60m

PETALING JAYA: AirAsia Group Bhd has divested its remaining 25% stake in its joint venture (JV) company AAE Travel Pte Ltd for US$60 million (RM240 million) to the 75% stakeholder, Expedia Inc's Expedia Southeast Asia Pte Ltd, in a bid to monetise its investment and utilise the proceeds as working capital. The group announced in a bourse filing yesterday 8

August 10, 2018 11:35 AM Colin George Harvey is new 7-Eleven CEO

PETALING JAYA: Colin George Harvey has been appointed as the new CEO of 7-Eleven Malaysia Holdings Bhd effective August 10. Harvey, 48, replaces acting CEO Ho Meng, who is also the executive director of 7-Eleven Malaysia. Former CEO Gary Thomas Brown stepped down in July 2017. Prior to this appointment, Harvey served as an independent director of the board 7

August 7, 2018 1:30 PM Former Aircel CEO steps down from Maxis board

PETALING JAYA: Maxis Bhd non-executive director Kaizad B. Heerjee has stepped down from his post after the telco was allegedly embroiled in illegal money trails in India. Kaizad, a Singapore national, was India’s Aircel Ltd CEO. He quit the debt-ridden firm last May. In a filing with Bursa Malaysia, Maxis said Kaizad’s resignation was due to personal 8

August 6, 2018 10:00 AM Satu CEO in remand for power abuse

KUALA TERENGGANU: A chief executive officer of the state's water concessionaire, Syarikat Air Terengganu (Satu), is in remand for six days beginning today for power abuse, involving an allocation of RM380,000 for renovation work of a water distribution centre which later became his home. The remand order was issued by Kuala Terengganu Magistrate/Session 26

August 5, 2018 9:29 AM Najib told to prove Arul Kanda earned RM10m before joining 1MDB

GEORGE TOWN: Former prime minister Datuk Seri Najib Abdul Razak has been told to furnish evidence that former 1Malaysia Development Berhad (1MDB) CEO Arul Kandasamy was paid RM10 million a year prior to joining the investment firm. Finance Minister Lim Guan Eng said he wanted the former premier to prove that Arul was earning much more while working in the private 10

August 3, 2018 7:30 AM EPF CEO Shahril appointed Khazanah MD

PETALING JAYA: Khazanah Nasional Bhd today announced that Datuk Shahril Ridza Ridzuan has been appointed as its managing director. In a statement released by the sovereign wealth fund today, it said Shahril will assume the post on Aug 20. Shahril, 48, is currently the Chief Executive Officer of the Employees Provident Fund (EPF), having been appointed 8

August 2, 2018 4:14 AM AirAsia bullish on Indonesian market

JAKARTA: Malaysian low-cost carrier AirAsia, which will start flights to Silangit Airport, Indonesia, the main gateway to Lake Toba from Oct 28, is looking to increase its services in Indonesia, a market in which it sees huge potential. Speaking at a press conference in conjunction with the official launch of the new route today, AirAsia Group CEO Tan Sri Tony Fernandes 8

August 1, 2018 2:48 PM Wan Zulkiflee stays put at Petronas, Ahmad Nizam appointed chairman

PETALING JAYA: Petroliam Nasional Bhd (Petronas) president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin has been spared the culling which left few survivors in government-linked companies, after weeks of speculation that he was to be replaced. In a brief statement released by the Prime Minister's Office (PMO) today, Putrajaya confirmed that Wan Zulkiflee 5

August 1, 2018 1:11 PM Four new captives for Labuan IBFC

KUALA LUMPUR: Labuan International Business and Financial Centre (Labuan IBFC) envisages a positive trend in the take-up of captive insurance following four approvals in the first half of the year. The midshore centre is also one of the financial centres in the Asian region to approve the most captive entities last year. To date, there are a total of 47 captives 6

August 1, 2018 12:53 PM Local companies urged to use CCIC to access China market

KUALA LUMPUR: Malaysian companies are urged to utilise the China Certification and Inspection (CCIC) Traceability System to ease market access into China. Deputy International Trade and Industry Minister Dr Ong Kian Ming said this traceability system is a service which provides support for complete supply chain traceability information, from production 6