• Malaysia tycoon Vincent Tan plans IPO of football club Cardiff City

  April 23 picture shows a Press Conference by Tan Sri Vincent Tan (left) on Cardiff City getting promoted to the English Premier League for 2013/2014. With him is his son Robin Tan, who is also the Berjaya Corp chairman. - YAP CHEE HONG/THE ...

• Karpal calls for Parliament to allow Senate elections

  is calling for the Parliament to enact a law to allow for Senate elections in all states. He said on Friday that this was in accordance to Article 45(4)(b) of the Federal Constitution, which allows each state to hold public elections to elect its Senators. He said that he would propose the enactment in Parliament through a Private Members Bill. Related ...

• Google like Facebook in talks to buy Waze for about US$1bil

  , Bloomberg news reported, citing people familiar with the matter. Waze is seeking more than $1 billion and is fielding expressions of interest from multiple parties, said Bloomberg, citing a source. Other media have reported that Facebook Inc has held talks to buy Waze for as much as $1 ...

• Procter Gamble brings back former CEO to fix company

  PG.N ) on Thursday brought back A.G. Lafley to run the world's largest household products maker, replacing Bob McDonald immediately in the midst of a major ...

• First edition of Great Gatsby to be sold at auction can fetch US$150000

  NEW YORK: A first edition copy of F. Scott Fitzgerald's masterpiece, "The Great Gatsby," will be up for sale next month and could fetch up to $150,000, Sotheby's said on Thursday. The book, which once belonged to the critic and author Malcolm Cowley, will go under the hammer along with a group of Fitzgerald's letters and an unpublished poem in the June 11 books and ...

• Crown selling entire 10 in rival Echo partly owned by Genting

  , the operator of Sydney's sole casino, a source with knowledge of the sale said. Crown is seeking in a book build through UBS to sell 82.5 million Echo shares at A$3.20 each, or for a total of A$264 million ($255.51 million), according to a term sheet provided by the source. That's a 7 percent discount to the stock's closing price on Thursday. The sale comes a week after Crown ...

• Wall Street sags HP hits 52-week high

  shares jumped more than 17 percent to a fresh 52-week high a day after the world's largest PC maker raised its outlook. The stock's surge supported the Dow and helped limit the S&P 500's decline. For most of the morning, the market had been pulled lower by worries that the Fed's stimulus may be scaled back sooner than hoped and after weak factory data in China. ...

• Billionaire Icahn seeks up to US$7bil for Dell bid

  and Silver Lake Partners. Icahn and Southeastern are seeking at least $5.2 billion and as much as $7 billion in lender commitments, sources said. "They want the shareholders to know that they have an alternative," another source said. Jefferies is understood to have committed $1.6 billion to the bridge loan. The arranger is asking for commitments as large as $1 billion and is expected ...

• Commodities trader sues BP Shell others for alleged oil price fixing

  Prime International Trading Ltd in a proposed class-action lawsuit filed in the courthouse in White Plains, New York on Wednesday, accused the oil companies of misreporting prices of trades in the North Sea benchmark, which sets the price of about 70 percent of the world's oil. The lawsuit comes on the heels of a European Commission probe into potential market abuse involving the reporting ...

• Goldman Sachs unveils checks on conflicts in bid to fix tarnished image

  's Lloyd Blankfein claimed success in putting the bank and his legacy as CEO back on track. At Goldman's annual meeting on Thursday, Blankfein unveiled details of a three-year review and overhaul of the bank's practices in dealing with clients, following high-profile missteps that tarnished its reputation in the aftermath of the financial crisis. The overhaul imposes checks, ...

• Singapore GDP growth surprises beats economists’ forecast of contraction

  SINGAPORE: Singapore reported a surprise expansion in its economy in the first quarter, helped by a surge in financial services as trading in stocks and foreign exchange soared. The city-state, whose economy is heavily dependent on trade, manufacturing and financial services, said gross domestic product (GDP) expanded 1.8% quarter-on-quarter in January-March, seasonally adjusted and annualised ...

• China Railway Corp sells US$3.26bil of debt

  , the new commercial entity created out of the restructured Railways Ministry, has auctioned its first issue of debt, selling 20 billion yuan (US$3.26bil) of five-year medium-term notes at a yield of 4.5%, traders said. This is the first time China Railway Corp has issued debt since its ministry parent was dissolved in March, following a series of corruption scandals that culminated in the ...

• IMF chief in court for French arbitration case

  PARIS: International Monetary Fund (IMF) chief Christine Lagarde arrived in court yesterday to be questioned by a French magistrate over her role in a 285-million-euro arbitration payment made to a supporter of ...

• US stimulus pullback hinges on traction signs decision could come at one of ‘next few meetings’

  WASHINGTON: The Federal Reserve's monetary stimulus is helping the US economy recover but the central bank needs to see further signs of traction before taking its foot off the gas pedal, ...

• Australias Crown sells $255mil stake in rival Echo

  , the operator of Sydney's sole casino, in a block trade to institutional investors. Crown sold its 82.56 million shares for A$264 million ($255 million) at A$3.20 per share, the company said in a statement to the Australian Stock Exchange. The price was a 7 percent discount to the stock's closing price on Thursday. Echo shares fell 12 percent when trading resumed to A$3.04. Crown has ...

• What does Lockheeds F-35 fighter jet really cost

  is developing and building the F-35 Joint Strike Fighter, the Pentagon's most expensive weapons program, for three U.S. military branches and eight international partners. The Pentagon released new cost projections for 78 major weapons programs on Thursday, including the F-35 program which showed the first decline in cost after years of increases and restructurings. The partners who are ...

• Sears losses mount weighs sale of unit to shore up liquidity

  Some on Wall Street saw D'Ambrosio's departure as adding to Sears' risks, and worried that Lampert's lack of retail sales experience could hurt the company's attempt to turn around its core Sears department stores and Kmart ...

• Copies of Opposition tabloids seized for violating permit

  PUTRAJAYA: Some 3,000 copies of tabloids published by the Opposition parties have been seized in a nationwide operation for violating the printing permit. Home Ministry officials have so far seized 1,408 copies of Suara Keadilan, 1,602 copies of Harakah and 70 copies of The Rocket. The seizure was made on Wednesday and more copies are expected to be seized as it is an ongoing operation. The Home ...

• Three held over May 13 statements

  KUALA LUMPUR: Police arrested three opposition figures under the Sedition Act while the Home Ministry seized some 3,000 copies of Opposition party organs as the authorities moved to put a stop to alleged attempts to overthrow the Government through street protests. PKR ...

• Rally organisers told to adhere to Act or face the music

  . He said organisers of mass rallies should respect the law and not create chaos because there was a "silent majority" among the people who did not agree with these ...

• Umno leaders back police action against those who utter seditious remarks

  PETALING JAYA: Umno leaders have commended the police for upholding the law in arresting people found to have infringed the Sedition Act 1948. Supreme council ...

• Thousands throng thanksgiving rally by DAP

  PETALING JAYA: The rally organised by the Federal Territory and Selangor DAP to thank the rakyat for their support during the general election drew thousands. It was a peaceful gathering as the crowd, mostly dressed in black, calmly listened to speeches by leaders including DAP adviser Lim Kit Siang, DAP publicity chief Tony Pua and Seputeh MP Teresa Kok. A recording of PAS ...

• Set aside differences Malaysians told

  has called on all Malaysians, regardless of race or ethnicity, to come together as one. He said Malaysia was growing steadily towards Vision 2020 and stressed that it was possible to achieve it only if the people were united in times of peace and difficulties. "There will be many obstacles for us to overcome in the next few years but I am confident that we as a nation can do it," he ...

• Air Asias Tony Fernandes to ‘fire up’ investors

  This handout picture taken on May 12, 2013, and released by the Malaysia's AirAsia shows AirAsia group chief Tony Fernandes (R) being served by British billionaire Richard Branson (L), who is dressed as a female flight attendant, in the air while flying from the Australian city of Perth to the Malaysian city of Kuala Lumpur. Branson honoured a losing bet by serving as a stewardess with ...

• Fernandes does his first firing in Apprentice Asia

  after a premiere that saw two teams competing to sell fish in their first challenge. The show, which made its debut Wednesday on AXN, saw the 12 contestants being split into two groups of men and women in the first challenge to sell fish at a local market here. Both teams made losses in their sales but the men's group, Team Mavericks incurred a bigger loss. Hence, one of its members had to ...

• Maybank bullish on growth to expand regionally under new leadership

  Malayan Banking Bhd's (Maybank) regionalisation plans are likely to be continued under its new leadership, with Thailand already earmarked as a potential new market, given the right circumstances. ...

• Adam pleads not guilty to giving seditious speech

  KUALA LUMPUR: Student activist Adam Adli Abd Halim has pleaded not guilty in a Sessions Court to a charge of uttering seditious words at the Kuala Lumpur and Selangor Chinese Assembly Hall. Adam Adli, 24, is alleged to have given a seditious speech which could incite Malaysians to change the Government in an illegal manner. When police brought Adam Adli to the dock at 10am, the student shook ...

• Khazanah appoints Nor Mohamed deputy chairman

  , Khazanah said in a statement yesterday. Nor Mohamed will also be appointed chairman of the upcoming Khazanah Research Institute, which will assume the existing functions of the Khazanah Research Division that has been in operation since 2004. The unit will evolve into a ';research institute to provide research and analysis on matters related to Khazanah and the nation’s ongoing ...

• Lafarge Malayan Cement to finalise next expansion plans by August

  expects to finalise its next phase of expansion plans by August, with a focus on the domestic market in tandem with the continued roll-out of construction projects under the 10th Malaysia Plan and ...

• Large migrant population a security risk to Sabah RCI told

  KOTA KINABALU: The presence of large migrant population in Sabah poses a certain security threat to the state and its people, Sabah Police ...

• Arrest of Opposition figures not political say cops

  PETALING JAYA: The police have slammed critics of the arrest of Opposition figures and activists, stressing that it was not politically motivated. Inspector-General of ...

• Daibochi expanding exports to S-E Asia and Australia

  said this was in light of the new sales orders, which were expected to materialise in the second half of the year. ';The overseas sales typically constitute 40% of group revenue. Equipped with the knowledge and experience, we are certainly building on our positive reputation to expand our footprint even further in regional markets,'; he told Bernama after the company’s AGM. He ...

• Pakatan uncowed by seizure of party organs

  PETALING JAYA: PKR has insisted that it would not be intimidated by the confiscation of copies of Suara Keadilan and other party organs from shops and distributors nationwide by the Home Ministry. ...

• TDM to expand plantation and hospital ops

  is aiming to increase its plantation size by nearly 30,000ha to 70,000ha and also triple its hospital operations by 2018. The group said in a statement that it aimed for planted oil palm land to total 70,000ha from the current planted area of 40,518ha. ';As our land in Terengganu is fully planted, Kalimantan is the next growth area to drive the group’s plantation business. ';We ...

• Axiata declines to confirm or deny that it is bidding for Indonesian telco

  , was valued at about US$1bil (RM3.02bil), debt included. Azman noted that the group had had a good AGM, with all resolutions being passed on an improved financial performance to boot. "We're now the third largest company, with RM59bil in market capitalisation," he said. According to data from the stock exchange, Axiata is currently the third largest company, in terms of market ...

• Danajamin names non-exec director

  , the country's financial guarantee insurer, has appointed Cheah Tek Kuang as an independent non-executive director, for a three-year term, effective May 20. Cheah was group managing director ...

• NUJ slams attacks on journalists covering vigils

  GEORGE TOWN: The National Union of Journalists (NUJ) has condemned the attacks on journalists covering a series of candlelight vigils held to show solidarity for student activist Adam Adli Abdul Halim. Adam was arrested last Saturday and charged yesterday with one count of uttering a seditious statement during a talk in Kuala Lumpur. NUJ's general secretary Schave Jerome De Rozario said ...

• FBM KLCI declines on selling pressure in key regional markets

  PETALING JAYA: A sell-off in Japan triggered selling pressure in key regional markets and Europe, and sent Malaysia's FTSE Bursa Malaysia KL Composite Index (FBM KLCI) down as much as 18.26 points to a low of 1,765.62. However, the local market managed to reduce the losses, reflecting the firmer and resilient investor sentiment, although extended selling pressure in key regional bourses ...

• KUB in JV with Singapore firm on multi-billion ringgit Petronas Rapid Tank Project

  has partnered with Singapore's Hiap Seng Engineering to undertake the multi-billion ringgit Petronas Rapid Tank Project in Pengerang, Johor. The company told Bursa Malaysia its ...

• ECM Libra aims to exit PN17 soon

  plans to exit its Practice Note 17 (PN17) status by year-end on completion of its self-regularisation exercise. This will involve the beefing up of its existing businesses and the proposed setting up of a corporate finance advisory unit to ensure sustainable profitability. The group slipped into PN17 territory when it divested its core revenue ...

• MACC starts probe into payment in rape-marry case

  KOTA KINABALU: The Malaysian Anti-Corruption Commission (MACC) has started its investigation into a claim of possible corrupt practice involved in the case of a restaurant manager charged with raping an underage girl here. MACC director of ...

• PKR condemns arrest of trio

  said the arrests reflected very badly on the Government. "They have no moral standing to claim on efforts for national reconciliation nor to be more liberal, not after these arrests," she said as reported in online portal Malaysian Insider. Ambiga also said the authorities could have just called the detainees to give their statements. "I was told they have a list of names. Surely ...

• RAM reaffirms rating on Tanjung Bin sukuk

  ’s sukuk ijarah programme of up to RM4.5bil in nominal value (2012/2029), with a ';stable'; outlook. The rating reflects Tanjung Bin’s sturdy business profile, underscored by the favourable terms of its power purchase agreement (PPA) ...

• Task force soon on lock-up murder

  KUALA LUMPUR: A task force has been formed to investigate the death of N. Dharmendran, who is believed to have been murdered while in police custody. City police chief Deputy ...

• PKR to file election petitions in court

  PETALING JAYA: Pakatan Rakyat will file petitions in court to challenge the results of the 13th general election in 29 parliamentary constituencies as well as a number of state seats. PKR ...

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