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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 ...
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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 ...
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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 ...
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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 ...
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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to the critic and author Malcolm Cowley, will go under the hammer along with a group of Fitzgerald's letters and an unpublished poem in the June 11 books and ...
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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 ...
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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. ...
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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 ...
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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 ...
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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, ...
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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 ...
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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 ...
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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 ...
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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, ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
Kuala Lumpur Spotlight
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City's major raw water project
It’s been in the pipelines for several years, but finally the Pahang-Selangor raw water transfer project has found its feet with an official groundbreaking ceremony held in April of 2010, the facility, when completed, will enable a massive region of the country, including Kuala Lumpur, Selangor and Putrajaya to cope with increasing demand for raw water treatment from industrial, residential and tourism sectors of the economy.
The raw water treatment project is a massive undertaking: a pipeline is to be constructed run from Sungai Semantan in Pahang to the Hulu Langat water treatment facility in Selangor, it will be 44.6 kilometers long, the longest tunnel of its kind in Asia and the sixth largest in the world. When operating at maximum capacity, over 1,800 litres of raw water will be pumped to Selangor and treated for conversion to fresh water, according to Kuala Lumpur news media. Read more
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