Thursday, April 6th, 2017

 

ECB calls for tougher regulation of foreign bank branches

VALLETTA, April 6 ― The European Central Bank (ECB) has proposed that large branches of foreign banks in the European Union be subject to tighter regulation and capital requirements, a move that would increase US and Asian lenders’ costs and…


AirAsia to lease an Airbus A330 from Indonesian affiliate

 AirAsia to lease an Airbus A330 from Indonesian affiliate

KUALA LUMPUR (April 6): AirAsia Bhd has entered into a wet lease agreement with Indonesian affiliate PT Indonesia AirAsia Extra (IAAX) which will lease out one Airbus A330 widebody aircraft, for the purpose of meeting AirAsia’s operational requirements.

In a filing with Bursa Malaysia, AirAsia said the lease is from April 19, 2017 to May 18, 2017 for the contract value of USD826,077 (RM3.66 million).

AirAsia said the lease of the aircraft shall include the flight crew, all maintenance of the aircraft, and insurance throughout the lease period.

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Amanahraya REIT redesignates COO Noorbaizura as CEO

Amanahraya REIT redesignates COO Noorbaizura as CEO

KUALA LUMPUR (April 6): Amanahraya Real Estate Investment Trust (Amanahraya REIT) has redesignated its chief operating officer (COO), Noorbaizura Hermeyney as chief executive officer, effective today.

Noorbaizura, 37, was COO with the trust for two years. She was previously Head of Investment of Amanahraya REIT for three years.

She was previously with Naza Group, KLCC Property Holdings as well as Ernst & Young Malaysia.

She holds an accountancy degree from Universiti Teknologi MARA and is an Association of Chartered Certified Accountants (ACCA) graduate.

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Despite ‘challenging’ environment, GM CFO expects strong 2017

DETROIT, April 6 ― General Motors Co’s chief financial officer said today the automaker expects another “very strong year” in 2017 and reiterated the company’s earnings forecast for the year. “Overall, we expect a more challenging…


Cohn backs Wall Street split of lending, investment banks

Cohn backs Wall Street split of lending, investment banks

(April 6): In a private meeting with lawmakers, White House economic adviser Gary Cohn said he supports a policy that could radically reshape Wall Street’s biggest firms by separating their consumer-lending businesses from their investment banks, said people with direct knowledge of the matter.

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Tencent passes Wells Fargo to become 10th biggest company: Chart

Tencent passes Wells Fargo to become 10th biggest company: Chart


25-year-old may soon give Hong Kong its first US$1 billion startup

25-year-old may soon give Hong Kong its first US$1 billion startup

(April 6): Hong Kong may soon get its first billion-dollar startup, thanks to a 25-year-old entrepreneur whose company leases phones to travellers.

Tink Labs Ltd. is in the process of raising about US$40 million and aiming for a valuation of more than US$1 billion, according to people familiar with the matter. The fundraising isn’t yet complete and the final figures could change, said the people, asking not to be identified because the information isn’t public.

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Majuperak sells part of Kinta landbank for RM17.72m

Majuperak sells part of Kinta landbank for RM17.72m

KUALA LUMPUR (April 6): Majuperak Holdings Bhd is disposing of two plots of leasehold land measuring 664.78 acres in Kinta, Perak for RM17.72 million cash, the company announced today.

The plots are being sold by Majuperak’s wholly-owned subsidiary, Syarikat Majuperak Bhd, via open tender to Wawasan Amanjaya Sdn Bhd, which will use it for an integrated farming project, Majuperak said.

The net book value of the asset is listed as RM81,817 as at Dec 31, 2016.

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Hiap Teck: Deal with An Steel off as talks took too long

Hiap Teck: Deal with An Steel off as talks took too long

KUALA LUMPUR: Hiap Teck today clarified that it decided not to extend the deadline to complete its planned share swap deal with An Steel International Co Ltd because negotiations to come to definitive agreements took too long.
 
Negotiations had taken more than nine months, it said, and the continued production suspension at its unit, Eastern Steel Sdn Bhd, was not in the best interest of the company, it said in a stock exchange filing today.

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Wall St set to open higher on upbeat jobless claims data

NEW YORK, April 6 ― US stock index futures added to their gains today after data showed US jobless claims posted the biggest drop in almost two years last week, further pointing to the strength of the labour market and the overall economy. A…