KUALA LUMPUR: The search for Malaysia Airlines flight MH370 will end on May 29, said Transport Minister Anthony Loke on Wednesday (May 23). Flight MH370, carrying 239 people, disappeared en route from Kuala Lumpur to Beijing on March 8, 2014. The previous Barisan Nasional-led government had agreed in January to pay Houston-based Ocean Infinity up to US$70mil (RM278.5mil) if it found the plane during a search in the southern Indian Ocean that was expected to end in June. However, Ocean Infinity had finished scouring its targeted search area in April and had requested an extension until May 29, Loke said. – ReutersRelated story:Dr M: We will review MH370 search contract
May 23, 2018 09:45 UTC
KUALA LUMPUR: Paramount Corp Bhd's net profit in the first quarter ended March 31, 2018, was little changed at RM6.96mil versus RM6.98mil in the previous corresponding quarter.Group revenue rose 13% to RM162.25mil due to higher contribution from the education division, and profit before tax was led marginally higher by 3% to RM18mil. "Revenue for the education division was significantly higher at RM70.8 million (1Q2017: RM40.8 million) mainly due to consolidation of R.E.A.L. Education Group of RM27 million from 11 April 2017 coupled with the higher student enrolment at KDU University College (Glenmarie and Penang)," it said in a stock exchange filing.Profit before tax for the division was higher at RM12.7mil versus RM6.9mil in 1Q17.However, the improvement in contribution from the education division was offset by lower progressive billings from the property division.Revenue for the property division decreased 11% to RM91.4mil due to the lower level of construction activities achieved coupled with the completion of certain phases within its developments.Profit before tax for the division decreased in tandem by 34% to RM8.7mil.Moving forward, Paramount said its unbilled sales of RM736mil as at March 31 is expected to contribute positively to its immediate future financial performance.According to the group, it had an undeveloped landbank of 731.4 acres as at March 31.Among its plans in 2018, the group is targeting to launch a mixed-use development project in the vicinity of Klang's main busines and commercial area where it will construct a new Sri KDUInternational school.With regards to the education segment, Paramount believes there is untapped growth potential in the pre-school and enrichment centre segments.The group said it has opened three new pre-school centres in 1Q18 and will leverage on synergies for student retention with kindergarten student graduating to its other education centres.
May 23, 2018 09:33 UTC
“Industries and landowners need to be held more accountable for the death of elephants on their land. The background to this issue is the expansion of oil palm plantations in Sabah, eating into the natural forest habitat of the elephants. WWF-Malaysia commends Sabah’s Chief Minister, Datuk Seri Mohd Shafie Apdal’s recent orders for a probe on the elephant deaths. WWF-Malaysia added that the recent deaths of Borneo elephants in Sabah is perhaps the wakeup call needed to view elephant deaths in a more serious manner. Related stories:Sabah CM orders probe on six dead elephantsMinister: More rangers to be deployed at plantations to protect Sabah wildlife
May 23, 2018 09:31 UTC
KUALA LUMPUR: It’s sea of red on the local bourse, with losers outpacing gainers, mirroring the performance on key Asian markets.The benchmark FBM KLCI plunged 40.78 points, or 2.21% to 1,804.25, its intra-day low at closing. The index opened 1.63 points weaker at 1,843.40.In the broader market, there were 763 losers against 234 gainers while 351 counters unchanged. About 2.59 billion shares, valued at RM3.08bil, changed hands.Dealers said the weak earnings results and dampened investor sentiment sparked a broad-based selldown in equity.Adding to the downbeat note, regional sentiment was weak following US President Donald Trump’s remarks that he was not happy with the current progress in resolving the US-China trade conflict.At Bursa Malaysia, the top losers was Dutch Lady that plunged 96 sen, or 1.37% to RM69.02, Panasonic Manufacturing shed 68 sen to RM38.94 while Ajinomoto closed 64 sen lower at RM22.90. The gainers included DRB-Hicom , Hong Leong Industries and KLCC.Axiata, which tumbled 12.62%, or 64 sen to RM4.43, dragged the index down by 10.377 points. CIMB shed 43 sen to RM6.22 and Tenaga lost 40 sen to RM14.94.On the external front, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3%.Japan’s Nikkei tumbled 1.2% to 22,690, after sliding to 22,650 earlier, the weakest intraday level since May 11.Hong Kong stocks posted their biggest intraday fall in seven weeks on Wednesday, pulled down by energy shares which slumped after Beijing intervened to cool the red-hot coal market.The Hang Seng index ended down 1.8% at 30,665.64, while the China Enterprises Index closed 2.1% lower at 12,090.79 points.
May 23, 2018 09:11 UTC
KUALA LUMPUR: MSM Malaysia Holdings Bhd (MSM), the country’s leading refined sugar producer and a subsidiary of Felda Global Ventures Holdings Bhd (FGV), swings back to the black in its first quarter (Q1) ended March 31, 2018. MSM posted a net profit of RM15.81 million against a net loss of RM34.62 million recorded a year ago. In a filing to Bursa Malaysia, MSM said earnings per share for the quarter under review stood at RM2.25 against RM4.93 in loss per share in Q1 2017. “While the circumstances were unfavourable in 2017, the first quarter performance shows encouraging signs towards a healthy balance sheet. MSM continued to strengthen its operational focus by marking down its raw sugar cost by 23.1 per cent against the same quarter last year.
May 23, 2018 08:48 UTC
(Reuters) - Arsenal appointed former Paris St Germain boss Unai Emery as their manager on Wednesday. The Spaniard replaces Arsene Wenger, who left the Premier League club at the end of the season after nearly 22 years in charge. Began his playing career in 1990 as a midfielder with Real Sociedad B in the second-tier of Spanish football. Made five appearances for the Real Sociedad first team in La Liga before representing Spanish sides Toledo, Racing Ferrol, Leganes and Lorca Deportivo. MANAGERIAL CAREERAfter his playing career ended in the 2004-05 season due to a knee injury, Emery took charge at Lorca Deportivo.
May 23, 2018 08:48 UTC
“We reached the consensus at our very first state exco (executive council) meeting. We will appoint new councillors and village heads accordingly,” he told a press conference on Wednesday (May 23) after the state exco meeting at his office. Datuk Seri Mohammad Nizar Jamaluddin is the Investment and Corridor Development committee chairman. Abdul Aziz Bari will take over the Education, Science, Environment, Green Technology and Information committee chairman post. Hasnul Zulkarnain Munaim is the Communications, Multimedia, Non-Governmental Organisation and Cooperatives Development committee chairman.
May 23, 2018 08:26 UTC
KUALA LUMPUR: Malaysia will review and possibly end its agreement with a private U.S. firm searching for Malaysia Airlines flight MH370, said Prime Minister Tun Dr Mahathir Mohamad on Wednesday (May 23). Flight MH370, carrying 239 people, disappeared en route from Kuala Lumpur to Beijing on March 8, 2014, in one of the world's greatest aviation mysteries. The previous Malaysian administration had agreed in January to pay Houston-based Ocean Infinity up to US$70mil (RM278.5mil) if it found the plane during a search in the southern Indian Ocean that is expected to end in June. The announcement came as Dr Mahathir's administration moved to cut government spending after reviewing the country's debt levels. The Seabed Constructor vessel has covered 86,000 sq km so far but has yet to identify any significant findings, Ocean Infinity said in its weekly search update on May 15.
May 23, 2018 08:15 UTC
KUALA LUMPUR: Axiata Group Bhd is looking at a possible technical impairment of between RM2bil and RM3bil when the merger between its associate Idea Cellular and Vodafone takes places.President and group CEO Tan Sri Jamaludin Ibrahim said the merger of the two telcos is likely to take place in the next quarter, with two approvals still pending.Speaking during a press conference on Wednesday, he stressed that the group was not concerned about this as the impairment was non-cash and would not have an impact on its normalised earnings and dividend-paying ability.Idea is currently an affiliate of the group and the dilution post merger will make it a simple investment.The group had announced its first quarter results yesterday, recording a net loss of RM147.4mil, down from a net profit of RM239mil a year ago, mainly attributed to losses on dilution of the group’s investment in India.The group’s revenue for the period ended March 31, 2018, also decreased by 2.3% to RM5.75bil due to unfavourable forex translation arising from the stronger ringgit, compared with the same quarter last year (1Q17), from all its major operating companies except for the Malaysian mobile operating entity.On the group’s outlook for the year ahead, Jamaludin said they were cautiously optimistic.“Due to the technical impairment, and if the ringgit is still strong, it will be tough.“We are cautiously optimistic. We are still doing well in most of our companies,” he said.
May 23, 2018 07:52 UTC
KUALA LUMPUR: Malaysians have swung behind a social media campaign to hand chocolates to police in a rebuke of ousted leader Datuk Seri Najib Razak, who complained officers combing his family's properties for evidence of corruption helped themselves to their sweets. Najib ruled Malaysia for nearly 10 years and is accused of siphoning millions of dollars from the country's coffers. Najib's lawyer, Harpal Singh Grewal, who made the initial complaint, said he did not know what type of chocolates Najib was concerned about. "They were important to my client, who told me to include that in the statement," he said. Bukit Aman Commercial Crime Investigation Department director Datuk Seri Amar Singh Ishar Singh, has promised "stern action ... if the allegations are found to be true".
May 23, 2018 07:52 UTC
KUALA LUMPUR: DBE Gurney Resources Bhd expects to return to profitability in one to two years as the integrated poultry company ramps up its quick service restaurant operating under the HARUMi fried chicken brand.Group Managing Director Datuk Alex Ding Seng Huat said with HARUMi, the company’s profit margin would easily be threefold compared with its traditional business of selling processed chicken and live chicken to wet markets.“If we open up more HARUMi restaurants or kiosks, I believe this will result in a good turnaround for DBE Gurney in one or two years,” he told a press conference after signing a joint-venture agreement with Thailand’s Farmmesh Foods Co Ltd here today.HARUMi, created by DBE Gurney with Taiwanese expertise, is Malaysia’s Halal-certified local fried chicken brand, with the first outlet set up in Sitiawan, Perak in 2016 and to date, there are 220 HARUMi kiosks, five food trucks and eight HARUMi restaurant and signature outlets.By 2020, DBE Gurney targets to have 3,000 kiosks, 300 food trucks and 30 restaurant and signature outlets for HARUMi.On overseas expansion, Ding said the group had incorporated an international office for HARUMi in Taiwan and has targetted to have 50 restaurants across China, Taiwan, Indonesia and Thailand by 2020.Its wholly-owned subsidiary, DBE Poultry Sdn Bhd today entered into a joint venture with Farmmesh Foods, which would see the establishment of a private limited company called Super Harumi Thailand, in which DBE Poultry would hold 30% and Farmmesh 70% equity, respectively.“Our role is to provide consultation and training with regards to the setting up and launch of HARUMi business in Thailand while Farmmesh will take charge of the advertising and promotion initiatives, as well as, secure the critical supply chain of raw materials required.“We plan to open two HARUMi outlets in Thailand this year and we have set aside RM500,000 in capital expenditure for each outlet,” he added.For the 2017 financial year, DBE Gurney recorded a net loss of RM20.31mil compared with a net profit of RM250,000 in the 2016 financial year, on the back of a lower revenue of RM111.73mil versus RM112.98mil, previously.
May 23, 2018 07:41 UTC
PETALING JAYA: Tun Dr Siti Hasmah Mohd Ali (pic) has requested for people not to send anymore congratulatory gifts to her and her husband Tun Dr Mahathir Mohamad, but to make donations to charity instead. In a statement made through her daughter Datin Paduka Marina Mahathir, Dr Siti Hasmah thanked everyone for the well wishes and gifts that were sent since Dr Mahathir was sworn in as Malaysia's seventh Prime Minister. "She (Dr Siti Hasmah) is very grateful and appreciative of your kind thoughts, prayers and messages," said Marina in a statement on her Facebook page on Wednesday (May 23). Instead, Dr Siti Hasmah requests for well-wishers to make donations to any charity instead of buying gifts. Several netizens praised Dr Siti Hasmah for her humble request.
May 23, 2018 07:41 UTC
KUALA LUMPUR: The Congress of Unions of Employees in the Public and Civil Services (Cuepacs) is appealing to the government to implement the annual salary increment (KGT) for all 1.6 million civil servants nationwide. He was commenting on Prime Minister Tun Dr Mahathir Mohamad’s statement that the Pakatan Harapan government would review the July 1 annual salary increment move for civil servants. This, said Dr Mahathir, was because the government is not obliged to fulfil the pledges made by the previous administration. Meanwhile, Azih said while Cuepacs is confident that the new administration under Dr Mahathir would give more incentives for civil servants, the KGT is something they had looked forward to. “Cuepacs is appealing to the prime minister to view it from the welfare of the civil servants, who serve as the backbone to the government,” he said.
May 23, 2018 07:41 UTC
NAIROBI: A 72-year-old pensioner has been found guilty in a British court of raping two Kenyan girls while he was on holiday in the East African nation, the latest example of cross-border collaboration to stamp out child sex offences by Western tourists. Britain’s National Crime Agency said Keith Morris, a retired locksmith from the northern city of Hull, was convicted of nine child abuse offences on Tuesday in Leeds Crown Court after a trial in which Kenyan witnesses testified via video link. “A Hull man who befriended and helped vulnerable families in rural Kenya to gain access to their children has been convicted of nine child abuse offences,” the agency said. An NCA and Kenyan police investigation found Morris had visited a village in Kilifi, a popular coastal holiday spot, for many years and “frequently took local children away for trips, where he would buy them gifts and stay with them in hotel rooms.”Morris, who is due to be sentenced on July 17, abused underage girls in 2016 and 2017, the NCA said. He was also convicted on two counts of obstructing justice after the NCA found he had transferred money to people in Kenya “in exchange for helping him to prove his innocence.”Kenyan police were not immediately available for comment.
May 23, 2018 07:30 UTC
PUTRAJAYA: 1Malaysia Development Bhd (1MDB) chief executive officer Arul Kanda Kandasamy arrived at the front lobby of Ministry of Finance (MoF) at 2.43pm today. Since last week, Arul Kanda and several other individuals have been barred from leaving Malaysia following an investigation into 1MDB. I have instructed Arul Kanda to brief and clarify if 1MDB is able to pay the sum due next week,” Lim had reportedly said. This afternoon, Arul Kanda arrived in a black MPV (multi purpose vehicle) and was escorted by several police personnel into the MoF building. When asked if he was meeting Lim, Arul Kanda quickened his pace while remaining smiling at newsmen’s camera lens.
May 23, 2018 07:30 UTC