Business

Malaysia-China relations at its peak
Friday, December 12, 2014

KUALA LUMPUR -- Bilateral relations between Malaysia and China is now at the highest level, especially in the economic sector, said Senate president Tan Sri Abu Zahar Ujang.He said this was because China, among others, had invested billions of ringgit in this country....

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Petronas to develop gas field off Sarawak
Thursday, December 11, 2014

KUALA LUMPUR -- December 11, 2014: Petronas, through its upstream arm, Petronas Carigali, will invest between US$500 million and US$1 billion to develop the K5 high carbon dioxide (CO2) concentration gas field off Sarawak until 2018. For this purpose, Petronas Carigali has entered into an agreement with Technip Consultant (M) Sdn. Bhd., UOP Malaysia Sdn. Bhd., Twister BV and Generon Asia Sdn....

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China the market to enhance trade
Thursday, December 11, 2014

KUALA LUMPUR – December 11, 2014: China’s fast growing wealth should be a major market for Malaysia to tap and showcase the best the country can offer them.
 
For this reason, Minister in the Prime Minister’s Department Datuk Wee Ka Siong would like Malaysians to work together, understand what China wants and sell products to them.
 
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Petronas unit gives marketing rights to Wasco
Thursday, December 11, 2014

KUALA LUMPUR -- December 11, 2014: Petronas Technology Ventures Sdn. Bhd. (PTVSB) has awarded Wasco Coatings the marketing rights for its oil and gas product, Remcoat.
 
The exclusive agreement is for five years.
 
Wasco, a global pipe coating specialist, will manufacture and market Remcoat globally,...

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Embattled Qantas flags profit turnaround
Monday, December 8, 2014

SYDNEY -- December 8, 2014: Embattled Australian carrier Qantas said today it had turned the corner after a major shake-up to stem losses, forecasting a swing back into the black in upbeat half-year profit guidance that sent its shares soaring.
 
Record fuel costs and fierce competition saw the carrier post an underlying loss before tax -- its preferred measure of financial performance -- of Aus$252 million in the six months to December 31, 2013....

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Japan recession worse than thought
Monday, December 8, 2014

TOKYO -- December 8, 2014: Japan's economy contracted more than initially thought in the July-September quarter, revised official data revealed today, showing the world's third largest economy sank deeper into recession.
 
The economy shrank 0.5 per cent quarter-on-quarter, worse than the 0.4 per cent estimated in initial data released three weeks ago, the Cabinet Office said.
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RM57bil financing approved for 100,000 SMEs up to Sept
Sunday, December 7, 2014

MIRI -- Over 100,000 small and medium enterprises (SMEs) have secured RM57 billion in financing from financial institutions as of end-September, says Bank Negara Malaysia (BNM) Assistant Governor Abu Hassan Alshari Yahaya.He said this amounted to an approval rate of 82 per cent which was very commendable....

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Aer Lingus CEO to head Malaysia Airlines
Friday, December 5, 2014

KUALA LUMPUR -- dECEMBER 5, 2014: Malaysia Airlines has picked the head of Irish flag carrier Aer Lingus, Christoph Mueller, as its future CEO as the airline struggles to recover from its two devastating disasters this year, it was announced today. Mueller will take over by mid-2015, said an announcement by Khazanah Nasional, the Malaysia state investment fund that controls the ailing airline....

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Economic fundamentals still strong, says minister
Friday, December 5, 2014

KUALA LUMPUR -- The economic fundamentals of the country are still strong and the depreciation of the ringgit, which is determined by market forces, will not significantly affect the country's economy.

Deputy Finance Minister, Datuk Ahmad Maslan, said the country's expected exports for 2014 were RM762.8 billion and imports RM677.2 billion, which would record a trade surplus of RM85.6 billion....

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MAS shares to be suspended from December 15
Thursday, December 4, 2014

KUALA LUMPUR -- December 4, 2014: The trading of Malaysia Airlines' shares on Bursa Malaysia will be suspended from 9am on December 15, three clear days prior to the entitlement date for its selective capital reduction and repayment exercise (SCR).
 
Accordingly, the last day for trading of the shares prior to the suspension will be on Dec 12.
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