KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim says he will seek former Penang deputy chief minister II Dr P Ramasamy's clarification over his resignation from DAP. "Ramasamy is a friend. I will get his views (on his resignation). He understands about several problems in the party (DAP)," Anwar said when met after delivering his keynote...
PETALING JAYA: The ramp-up in progress of existing projects as well as new job wins driven by new opportunities in the sustainable energy segment is expected to support Sunway Construction Group Bhd’s (SunCon) earnings growth, going forward. RHB Research expects the construction company’s second-quarter 2023 (2Q23) core earnings to grow in the range of RM30mil to RM40mil...
PARIS: L’Occitane International SA’s controlling shareholder is in advanced talks on a potential deal to take the skin-care company private at a valuation of around US$6.5bil, people familiar with the matter say. Billionaire chairman Reinold Geiger has been discussing a possible offer of about HK$35 for each L’Occitane share he doesn’t already own, said the people,...
KUALA LUMPUR: Businessman Tan Sri Halim Saad has sued Tun Dr Mahathir Mohamad and two others over losses he allegedly suffered during the government’s takeover of United Engineers Malaysia Bhd (UEM) and Renong Bhd in 2001. The 69-year-old businessman filed the lawsuit at the High Court registry through Messrs Malik Imtiaz Sarwar on Aug 2, naming...
PETALING JAYA: The good old days of the property market, when banks were eager to lend and buyers snapped up properties within minutes after launch, are unlikely to return – especially not in the next few years. “The euphoria of the 2011 market upcycle is long gone. Yes, the sentiment has improved in recent times, but...
PETALING JAYA: MR DIY Group Bhd is bullish on its long-term sustainable growth prospects, buoyed by steady development across all key metrics of the home improvement retailer. The group said this was evident as its strong value-price proposition was relevant and resonated with the value-conscious Malaysian customer, while continuing to eye opportunities for growth investments through...
KUALA LUMPUR: Analysts have trimmed the earnings forecasts of Hartalega Holdings Bhd after the glove maker’s results came in below expectations. Hartalega registered its third consecutive loss-making quarter after posting a net loss of RM52.47mil or loss per share of 1.54 sen in its first financial quarter ended June 30, 2023. This compares with a net profit of RM88.28mil...
KUALA LUMPUR: The ringgit opened almost flat against the US dollar today, ahead of the United States Consumer Price Index (CPI) data for July set to be released today. At 9.05 am, the local note stood at 4.5710/5760 against the greenback compared with 4.5705/5755 at Wednesday’s close. ActivTrades trader Dyogenes Rodrigues Diniz told Bernama that the US...
HE built a fortune lending to low-income borrowers shunned by banks. He paid staff below-market wages and thought they still earned too much. He gave away almost all his wealth to a handful of employees, content with his small house and a US$5,000 car. R Thyagarajan is arguably one of the world’s most idiosyncratic financiers –...
PETALING JAYA: Forbes Asia has named nine Malaysian companies as part of its Best Under A Billion 2023 list. The list highlights 200 Asia-Pacific public companies with revenues under US$1bil that have displayed consistent growth in both their top and bottom lines. The companies are Frontken Corp Bhd, Greatech Technology Bhd, Harbour-Link Group Bhd, Kim Loong Resources...
