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September 3, 2018 3:09 PM Vertice joint-venture company wins RM815m contract in related party deal

PETALING JAYA: Vertice Bhd's 50:50 joint venture (JV) company with Vizione Holdings Bhd, Buildmarque Construction Sdn Bhd was awarded an RM815 million contract by Consortium Zenith Construction Sdn Bhd to undertake construction works for Package 2 of the Penang Mega Infrastructure Project. The award is for the construction of a 5.7km by-pass from Bandar 10

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 7

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 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 51

August 30, 2018 6:58 AM RHB grows Q2 net profit by 12.2% on higher net interest income and lower credit losses

PETALING JAYA: RHB Bank Bhd grew second quarter ended June 30, 2018 net profit by 12.2%, on higher net interest income, income from Islamic banking business and significantly lower credit losses. Lower credit losses was mainly due to a RM19.0 million charge for equity instruments designated at fair value through other comprehensive income for the quarter 9

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 9

August 29, 2018 3:57 AM Puncak Niaga's share price falls 2.7% on narrowed losses

PETALING JAYA: Puncak Niaga Holdings Bhd’s share price fell as much as 2.75% or 1.5 sen to 53 sen at early trade after it narrowed its losses to RM4.3 million for the second quarter ended June 30, 2018 on a boost in construction contracts, sale of fresh fruit bunches (FFB) and its concession business. The group posted a net loss of RM30.4 million for the quarter 6

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 7

August 28, 2018 1:22 PM Hong Leong Bank Q4 net profit up 30%

PETALING JAYA: Hong Leong Bank Bhd’s net profit for the fourth quarter ended June 30, 2018 jumped 30% to RM626.01 million from RM482.92 million a year ago due mainly to higher net income, lower operating expenses, lower allowance for impairment losses on loans, advances and financing, higher writeback of impairment losses on financial investments and higher 5

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 6