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August 15, 2018 2:50 AM AirAsia share price up marginally after selling stake in Expedia JV

PETALING JAYA: AirAsia Group Bhd's (AAG) share price rose 0.90% this morning after it divested its remaining 25% stake in its joint venture (JV) company, AAE Travel Pte Ltd for US$60 million (RM240 million). The airline sold its remaining stake to the 75% stakeholder in the company Expedia Inc’s Expedia Southeast Asia Pte Ltd -- in a bid to monetise 145

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 141

August 14, 2018 3:39 PM India's Fortis sees signs of recovery, shareholders approve takeover by IHH Healthcare

BENGAlURU: Cash-strapped Indian hospital operator Fortis Healthcare Ltd said today it was starting to see some signs of recovery, as it secured shareholder approval for its takeover by Malaysia's IHH Healthcare Bhd. Fortis, which operates about 30 private hospitals in India, reported a net loss of 707.4 million rupees (RM41.5 million) for the three months 40

August 14, 2018 1:53 PM Toll concessionaires’ shares rise

PETALING JAYA: The shares of most toll concessionaires rose today after the government decided to postpone the abolishment of tolls. Among the nine toll concessionaires listed on Bursa Malaysia, Lingkaran Trans Kota Holdings Bhd (Litrak) was the top gainer, rising 2.85% or 13 sen to close at RM4.69 with 704,700 shares traded today. The company, which 168

August 14, 2018 1:37 PM No delay in responding to China's palm oil purchase

KUALA LUMPUR: The Ministry of Primary Industries has clarified that its Minister, Teresa Kok did not infer that a unit in the ministry was slow in responding to, or following up with, requests by buyers from China to purchase palm oil. The ministry said that Kok was referring to the failure by the company that was involved in the trade talk with China 56

August 14, 2018 7:29 AM Former Brazil finance minister charged with corruption

BRASÍLIA: Former Brazil finance minister Guido Mantega was indicted Monday on money laundering and other charges as part of the corruption scandal that has rocked the country's business and political elites. Mantega, 69, is accused of taking money from construction giant Odebrecht in exchange for helping to advance legislation that favoured the company 88

August 14, 2018 5:16 AM SSM offers up to 80% discount on compounds

PETALING JAYA: Companies Commission of Malaysia (SSM) is offering up to 80% discount for compounds imposed on companies, starting Sept 1 until Dec 31. Domestic Trade and Consumer Affairs (KPDNHEP) Minister Datuk Saifuddin Nasution Ismail, who officiated SSM National Conference 2018 this morning, said the move was taken in conjunction with SSM’s “Comply 31

August 13, 2018 3:51 AM Zecon's share price fall 6.84% on action against JKR

PETALING JAYA: Zecon Bhd fell 6.84% to 35 sen this morning after the company obtained an injunction from the Kuala Lumpur High Court to restrain the Public Works Department (JKR) from making a claim or receiving RM24.75 million bank guarantee proceeds. Last Friday’s injunction comes on the heels of Zecon's announcement on Wednesday, that it had received 69

August 10, 2018 8:24 AM Airline employee in remand for corruption

PUTRAJAYA: A male employee of an airline company working at the Kuala Lumpur International Airport 2 (klia2) is in remand for four days from today for alleged abetment in a bribery case, involving RM1,300. The remand order was issued by Magistrate Atikah Abu Hassan here following an application by the Malaysian Anti-Corruption Commission (MACC) 43

August 10, 2018 3:55 AM Gamuda shares rebound after accepting Splash takeover offer

PETALING JAYA: Gamuda Bhd’s share price rose 1.35% this morning after its 40%-owned associate company Syarikat Pengeluar Air Selangor Holdings Bhd (Splash) accepted the RM2.55 billion takeover offer. At 11.34am, the stock was 1.35% or 5 sen higher at RM3.76 with 1.83 million shares traded. The stock closed 3.6% or 14 sen lower at RM3.71 yesterday with some 4.55 million 33