Business

Malaysia targets RM6.4b China investments
Friday, June 20, 2014

KUALA LUMPUR: Malaysia is eyeing an ambitious US$2 billion (about RM6.4 billion) worth of fixed investments every year from China, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
He said China is expected to invest US$500 billion overseas over the next five years, with an average of US$100 billion a year, of which Malaysia intends to secure at least 2% annually....

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Najib: No probability of closing down MAS for now
Thursday, June 19, 2014

KUALA LUMPUR, June 19 -- 2014: Prime Minister Datuk Seri Najib Tun Razak said today that there is no probability of the government closing down Malaysian Airlines for now.
 
Najib said that although MAS was incurring losses, the direction of the airline company had yet to be determined and the financial implication to the government would depend on the outcome of the due diligence being undertaken by the main shareholder, Khazanah Nasional....

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Treasury: IRB tax money never used for stocks or bonds
Thursday, June 19, 2014

KUALA LUMPUR: The tax collected by the Inland Revenue Board (IRB) will be wholly channelled to the government, and will not be used to invest in stocks or bonds.
 
Treasury Secretary General Tan Sri Dr Mohd Irwan Serigar Abdullah said the government intends to make the IRB selffinancing by giving it an agency fee to cover its operating costs.
 
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YTL Power pulls out amid 'crony' backlash
Thursday, June 19, 2014

KUALA LUMPUR: YTL Corp Bhd has pulled out of the consortium that was contracted through controversial direct negotiation to build a RM3 billion power plant in Johor, saying that it wanted to dispel any misgivings over the government's transparency over the awards of contracts.In a stock exchange filing yesterday, the group said its power unit, YTL Power International Bhd, will not...

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UK-based Fircroft in JV to supply O&G manpower
Thursday, June 19, 2014

KUALA LUMPUR: UK-Based technical recruitment services provider Fircroft Group has extended its services to Malaysia to overcome future manpower shortage in the local oil and gas (O&G) industry.
In line with that, Fircroft has formed a maiden joint-venture (JV) agreement with Tanjung Offshore Bhd (TOB) to supply manpower to both the upstream and downstream O&G industry....

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Malaysian Plcs among Asean top scorers in corporate governance
Wednesday, June 18, 2014

KUALA LUMPUR, June 18 -- 2014: Malaysian public listed companies (Plcs) continue to rank amongst the top scorers in the Asean Corporate Governance Scorecard Country Report and Assessments 2013-2014 released by the Asean Capital Markets Forum (ACMF) today.
 
In the report, 529 Plcs from six countries -- Malaysia, Singapore, Thailand, Indonesia, the Philippines...

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Cambodian worker exodus triggers Thai economy fears
Wednesday, June 18, 2014

BANGKOK, June 18 -- 2014: The dramatic departure of nearly 190,000 Cambodian migrant workers from Thailand threatens to hit labour-intensive industries from seafood to construction, damaging the Thai economy just as it teeters on the verge of recession.
 
Panicked labourers -- who help keep major Thai businesses afloat but often lack official work permits --...

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New MD looking to unlock MAHB potential
Wednesday, June 18, 2014

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) has lots more business opportunities to be explored in the country and globally, and that would be one of the immediate agendas on the table for incoming MD Datuk Badlisham Ghazali.He said MAHB are like the pyramids in Egypt, "which looked small from far but triggered amazing achievements for the region."...

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Proton revamp 'to win back Malaysian buyers'
Wednesday, June 18, 2014

KUALA LUMPUR: Proton Holding Bhd's new chairman Tun Dr Mahathir Mohamad says there will be changes at the national car company to regain its place as Malaysia's premier auto company.
Dr Mahathir, whose return as chairman represents a full circle in his connection with the company that he initiated as prime minister in 1983, said Proton will undergo a transformation to bring the brand back to its leading position in the domestic market....

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Malaysia's future talents pick Petronas & Google as top choice
Tuesday, June 17, 2014

SINGAPORE, June 17 -- 2014: Malaysians studying business, engineering, natural sciences and law picked Petronas as their Top 1 IDEAL Employer this year, while Google claimed the hearts of those doing humanities and IT.
 
Set out to track career aspirations and preferences of future talent pools, the Malaysia Top 100 IDEAL Employers student survey by Universum also recognises the most coveted employers based solely on responses gathered....

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