Business

Prasarana offers LRT station deals to raise funds
Tuesday, July 8, 2014

KUALA LUMPUR: Syarikat Prasarana Bhd is offering sponsorship deals to name three of its light rail transit (LRT) stations to raise revenue to offset some of the RM740 million it faces in annual losses.
Prasarana Integrated Development Sdn Bhd CEO Rudyanto Azhar said the group aims to boost its ancillary revenue by 30% from its current 8% by 2017 by transforming three of its LRT stations through a naming rights initiative....

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MAS introduces mandatory self check-in
Tuesday, July 8, 2014

KUALA LUMPUR, July 8 -- 2014: Malaysia Airlines (MAS) has introduced a the mandatory self check-in requirement for all economy class passengers flying out of the Kuala Lumpur International Airport (KLIA) from July 15.
 
The airline said in a statement that by using the self check-in option, customers can save valuable time and reduce the hassle of conventional checking in.
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Special offers from Firefly & MAS
Monday, July 7, 2014

SUBANG, July 7 -- 2014: Firefly has launched a Ramadan promotion with two levels of fares -- an all-in return fare of RM69 for all flights within Peninsular Malaysia and RM149 all-in return for all international destinations.
 
The fares are on sale from today until July 20 for travel from July 14, 2014, to March 28, 2015.
 
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Pikom expects minimal impact of GST on IT players
Monday, July 7, 2014

KUALA LUMPUR:The National ICT Association of Malaysia (Pikom) expects minimal impact of the Goods and Services Tax (GST) to the local IT industry when it is implemented on April 1, 2015.Pikom research committee chairman Woon Tai Hai said: "We expect the IT industry will be impacted by the GST at the initial stage of its implementation but usually it will normalise in the medium to longer term....

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Research firms unfazed by CIMB succession
Monday, July 7, 2014

KUALA LUMPUR: CIMB Group Holdings Bhd group CEO Datuk Seri Nazir Razak's promotion to the role of group chairman caught the attention of research houses although none found the news significant enough to change its call and target price (TP) for the financial group.
Public Investment Bank Bhd (PIBB) said the news came sooner than expected but it doesn't see significant changes to the makeup of the group as a result....

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Gold traders file suit against Genneva Malaysia
Friday, July 4, 2014

KUALA LUMPUR, July 4 -- 2014: A total of 1,065 gold traders are suing a gold investment company, Genneva Malaysia Sdn. Bhd., for breach of contract involving RM146 million in sales and purchase of gold.
 
They also named Bank Negara as the co-defendant in the civil suit for ancillary orders to release the gold and monies which are now held as property on trust by the central bank following a raid and seizure at the company in 2012....

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Iskandar's hot streak losing steam?
Friday, July 4, 2014

KUALA LUMPUR: Johor's Iskandar Malaysia's hot property market streak may be losing steam due to concerns over the influx of big developers from China and land reclamation works that have recently cropped up.
Kenanga Research said in a recent report that developers are focusing too much on high-density projects which are outgrowing development of landed properties....

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Khazanah to take MAS private seen positive
Friday, July 4, 2014

KUALA LUMPUR: Malaysian Airline System Bhd (MAS) share prices jumped yesterday as speculation surfaced that major shareholder Khazanah Nasional Bhd is going to privatise the national carrier before the end of the year.Interest in MAS was piqued after a wire service reported that Khazanah was looking into privatisation as the way to save the ailing carrier....

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Chinese investment into Malaysia to exceed USD2 billion this year
Friday, July 4, 2014

KUALA LUMPUR: Investments from Chinese companies into Malaysia is expected to exceed US$2 billion this year driven by the establishment of the Malaysia-China Kuantan Industrial Park, said Chinese Ambassador to Malaysia Dr Huang Huikang.
 
He said China would continue to encourage its companies to invest in Malaysia and this year, a big project would materialise.
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Nazir to be CIMB Group chairman
Thursday, July 3, 2014

KUALA LUMPUR, July 3 -- 2014: CIMB Group today announced a leadership transition plan which will see Datuk Seri Nazir Razak relinquishing his position as group chief executive officer.
 
Nazir however will take over as CIMB group chairman as Tan Sri Md Nor Yusof will retire from the board and join the group's international advisory panel.
 
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