KUALA LUMPUR (June 14): Can-One Bhd has decided to sell its sweetened creamer and evaporated creamer manufacturing unit to Asia Dairy Creations Sdn Bhd for between RM800 million to RM1 billion. 

This follows a letter of offer received from Asia Dairy Creations, a special purpose ve...

Can-One to book gain of up to RM811m from sale of F&B Nutrition

D’Nonce Technology Bhd said its shareholders have failed in their bid to block the Penang-based hard disk drive contract manufacturer from proceeding with its annual general meeting (AGM) on June 17.

In an exchange filing today, D’Nonce said the High Court today dismissed the injunction application by Singapore investment firm Blackstream Investment Pte Ltd and P'ng Chiew Keem.

Shareholders fail to stop D’Nonce from holding AGM on June 17

The price of RON97 petrol will be reduced by 22 sen to RM2.41 per litre for the period of June 15-21, from RM2.63 per litre now, says the Finance Ministry.

Meanwhile, retail prices of RON95 petrol and diesel will remain unchanged, at RM2.08 and RM2.18 per litre respectively.

RON97 down 22 sen to RM2.41 per litre, RON95 and diesel prices unchanged

UEM Sunrise Bhd is planning to downsize its high-end residential resort and beach club development in Desaru, Johor, conceived six years ago, in a move to conserve cash and limit exposure.

In an exchange filing today, UEM Sunrise said the existing residential resort development will be revised from 680 acres to 228 acres, a size the company said will be much more “manageable”.

UEM Sunrise downsizes Desaru project to conserve cash

Hong Leong Bank Bhd (HLB) announced today it has issued RM1 billion in nominal value of its Tier 2 subordinated notes (sub-notes), pursuant to a programme it set up in 2014.

And the debt papers have been subscribed to by its parent company Hong Leong Financial Group Bhd, which holds a 65.51% stake in the banking group, according to a filing with Bursa Malaysia

HLFG takes up RM1 bil debt papers issued by Hong Leong Bank

Practice Note 17 (PN17) firm Perisai Petroleum Teknologi Bhd said its 51%-owned unit has won a US$20 million (RM83.37 million) drilling contract from Petronas Carigali Sdn Bhd.

The contract awarded to Perisai Offshore Sdn Bhd is in relation to the high specification jack-up rig — which is capable of operating in water depth of 400 ft and with a drilling depth capability of 30,000 ft — for Petronas’ Samarang drilling campaign

Perisai Petroleum bags US$20m Petronas contract

KUALA LUMPUR: A think tank is of the view that government agencies should not be directly involved in the building of low-cost homes in order to generate affordable housing projects.

Noting the government’s active role in the housing market, as indicated in the recently launched Nationa...

Govt should reduce direct involvement in affordable homes

KUALA LUMPUR: Comintel Corp Bhd’s (Comintel) external auditor Messrs RSM Malaysia has expressed a qualified opinion on the group’s financial statement for the year ended Jan 31, 2019 (FY19).

In a filing with Bursa Malaysia yesterday, an extract from the auditor’s report revealed that th...

Comintel’s auditor issues qualified opinion on FY19 results

KUALA LUMPUR: Berjaya Food Bhd registered a net profit of RM4.05 million in the three-month period ended April 30, 2019, compared with RM837,000 in the corresponding quarter a year ago, helped by higher Starbucks revenue and lower finance costs.

Revenue came in at RM169.93 million, up f...

Berjaya Food posts higher 4Q net profit, pays one sen dividend

KUALA LUMPUR: Media Prima Bhd has appointed Datuk Syed Hussian Syed Junid (pic) as group chairman of the media group from July 1 onwards, replacing Datuk Mohd Nasir Ahmad whose tenure ends on June 30.

To ensure a smooth transition, Syed Hussian will begin his appointment to Media Prima’...

Syed Hussian to replace Mohd Nasir as Media Prima group chairman

Prime Minister Datuk Seri Anwar Ibrahim described foreign media reports regarding fuel subsidy cuts as unethical, and said that no final decision had been made at the Cabinet level regarding the issue.

Anwar lambasts foreign media over reports on fuel subsidy cut

The UK’s Labour Party is set to impose value-added tax (VAT) on boarding fees as well as private education in the country if it wins the next election, Financial Times (FT) reported, citing party insiders.

UK’s Labour to impose VAT on boarding fees, private education — FT

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor apologised to Prime Minister Datuk Seri Anwar Ibrahim and Cabinet ministers who attended the state-level Madani Aidilfitri celebration on Saturday night.

Kedah MB apologises to Anwar, Cabinet over ‘inappropriate remarks’

The federal government has agreed in principle to proposals to convert agricultural land within the Muda Agricultural Development Authority (Mada) area for industrial and commercial development.

Anwar says nod given to conversion of Mada land for industrial, commercial development 

US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.

Yellen counsels caution on currency intervention after yen surge

Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.

Labour mayor wins cap triumphant election run for Starmer

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

Paytm appoints new executives as COO resigns

Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

Warren Buffett says taxes may rise to offset widening US deficits

Warren Buffett assured Berkshire Hathaway shareholders on Saturday that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its position in the iPhone maker.

Buffett says Berkshire in good hands, lauds Apple despite lowering stake

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Ping An votes against reappointment of HSBC CEO as director — Reuters

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor apologised to Prime Minister Datuk Seri Anwar Ibrahim and Cabinet ministers who attended the state-level Madani Aidilfitri celebration on Saturday night.

Prime Minister Datuk Seri Anwar Ibrahim described foreign media reports regarding fuel subsidy cuts as unethical, and said that no final decision had been made at the Cabinet level regarding the issue.

Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.

Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

In the May 6 issues of City &amp; Country, the cover story features Eastern &amp; Oriental Bhd’s (E&amp;O) Andaman Island in Penang. The reclaimed island project is taking shape and will come in two phases. Phase one covers 253 acres, while phase two will cover 507 acres. Reclamation work for phase one started in 2015 and was completed in December 2019. Work on phase two is ongoing, with the entire reclamation exercise set to be completed by December 2028.

Developing community living sustainably

The federal government has agreed in principle to proposals to convert agricultural land within the Muda Agricultural Development Authority (Mada) area for industrial and commercial development.

Mathew Ngau Jau is not a fan of hectic city life, though there is certainly something to smile about as he visits Kuala Lumpur this week for a very special recognition at the 19th Boh Cameronian Arts Awards (BCAA).

Treasure of Borneo

US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.

The UK’s Labour Party is set to impose value-added tax (VAT) on boarding fees as well as private education in the country if it wins the next election, Financial Times (FT) reported, citing party insiders.

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

Tan Xue Ying

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