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September 3, 2018 5:19 AM Lotte Chemical's PP3 project commences operations

PETALING JAYA: Lotte Chemical Titan Holding Bhd's new polypropylene production plant (PP3 project) successfully commenced commercial operations on September 1. "The PP3 project began construction in March 2017 and its mechanical completion was achieved in June 2018," the petrochemical firm said in a filing with the stock exchange. The PP3 plant will produce 5

August 30, 2018 5:36 AM Petronas ups dividend payout to RM24b for 2018 as Q2 profit nearly doubles

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) announced today a higher dividend payout of RM24 billion to the federal government this year after its net profit leaped 94% for the second quarter ended June 30, 2018. This represents a 50% rise compared with the RM16 billion dividends last year. Petronas' net profit stood at RM13.6 billion for the April-June 7

August 29, 2018 12:04 AM Perak govt apologises over Sukma 2018 video debacle

IPOH: The Perak government has made an open apology over a 19-second video clip on the 2018 Perak Malaysia Games (Sukma) which is said to be copied from another clip titled Taipei in Motion 2017, made by a production company in Taiwan. State Youth, Sports and Human Capital Development Committee chairman Howard Lee Chuan How told a press conference here today 5

August 28, 2018 3:47 PM FGV in the red in Q2 on lower CPO prices, higher cost

PETALING JAYA: FGV Holdings Bhd swung into the red in the second quarter ended June 30, 2018, registering a net loss of RM23.23 million versus a net profit of RM37.26 million in the previous corresponding quarter, dragged down by lower crude palm oil (CPO) prices and productivity, higher production cost as well as higher share of losses from joint ventures 6

August 27, 2018 11:21 AM Matang Q4 earnings up 25%

PETALING JAYA: Matang Bhd's net profit for the fourth quarter ended June 30, 2018 grew 25% to RM578,000 from RM463,000 a year ago on higher volume of fresh fruit bunch (FFB) harvested and lower cost of sales. Its revenue jumped 12% to RM2.48 million compared with RM2.22 million in the previous year's corresponding quarter arising mainly from higher volume 5

August 23, 2018 12:46 PM Sime Darby Plantation acquires coconut oil exporter

KUALA LUMPUR: Sime Darby Plantation Bhd’s (SDP) wholly owned subsidiary New Britain Palm Oil Ltd (NBPOL) has completed the US$52.6 million (RM215.6 million) acquisition of Markham Farming Co Ltd (MFCL) from Markham Agro Pte Ltd (MAPL). In a filing with Bursa Malaysia, SDP said NBPOL has assumed the net debt of MFCL and MAPL of US$11 million. MFCL is now indirectly 11

August 21, 2018 9:34 AM Kawan Food earnings fall in Q2

PETALING JAYA: Kawan Food Bhd’s net profit for the second quarter ended June 30,2018 fell 32.40% to RM6.08 million from RM8.99 million a year ago due to lower export turnover, and higher operation and promotion costs. Revenue for the quarter under review fell 4.92% to RM52.38 million from RM55.09 million due to a decrease in turnover from North America 9

August 14, 2018 3:09 PM Swan Lake by Ballet West UK coming to Malaysia

KUALA LUMPUR: A professional ballet cast is bringing Tchaikovsky's iconic "Swan Lake" to life in a series of full-length performances in Malaysia starting Aug 24. Six shows are set to be staged by dancers from Ballet West UK from Aug 24 to 26, and from Aug 31 to Sept 2 at the Genting International Showroom, Resorts World Genting. In a statement, event 11

August 14, 2018 8:14 AM Minimum wage increases to be implemented gradually: PM

KUALA LUMPUR: The implementation of the RM1,500 minimum wage will be carried out gradually to allow a recovery in the country's economy, said Prime Minister Tun Dr Mahathir Mohamad. He added that if Malaysia starts spending money which it does not have, it would not be good for the country in the long run. "If we push for higher minimum wages, cost of production 9

August 14, 2018 5:28 AM Malaysia's GDP to contract by 1.3% if tariff slapping escalates

KUALA LUMPUR: Malaysia's gross domestic product (GDP) could contract by 1.3% in two years, should the trade war between the US and China intensify. CIMB Group chief economist Dr Donald Hanna said the contraction on Malaysia's economic growth is possible in the event of continuous escalation of tariff imposition and a confidence shock in the financial 11