PETALING JAYA: Paramount Corp Bhd’s second quarter net profit soared 70% to RM23.9mil from RM14.1mil a year earlier, on higher contribution from its property division and higher student enrolments at its KDU University College.Revenue for the quarter ended June 30, 2016 rose 26% to RM145.3mil...

PETALING JAYA: Several local banks have revised their base rates (BR) and base lending rates (BLR) for the past three weeks, from the time when Bank Negara Malaysia (BNM) had reduced the Overnight Policy Rate (OPR) by 25 basis points to 3% last month.Property developers welcome the OPR reduction,...

BY DANIEL KHOOBanks told to have effective whistle-blowing policyPETALING JAYA: In the wake of lapses in controls in some banks, Bank Negara has introduced guidelines that effectively compel banks to enhance their governance and put in place an effective whistle-blowing policy.As part of the...

BY M. HAFIDZ MAHPARThe Verge shopping mall in Singapore.KUALA LUMPUR: Three months after aborting the deal to sell its 90% stake in The Verge commercial complex in Singapore, DRB-Hicom Bhd has identified a new potential buyer, Singapore-listed property development and construction group Lum Chang...

Mah Sing Group senior chief operating officer James A. Bruyns speaking during a media briefing about its latest and largest township Meridin East township in Kong Kong, Pasir Gudang in Johor.JOHOR BARU: Pasir Gudang will soon see a facelift as developer Mah Sing Group brings its largest township...

BY DALJIT DHESIPETALING JAYA: Expectations are building up for Bank Negara to reduce the statutory reserve requirement (SRR) by between 50 and 100 basis points (bps) this year to release more liquidity into the banking system amidst the slowing economy.This comes following the recent 25% bps cut in...

PUTRAJAYA: With the 2026 target set for the High Speed Rail service to be up and running, Prime Minister Datuk Seri Najib Tun Razak and his Singapore counterpart Lee Hsien Loong witnessed a key milestone for the project with the signing of the memorandum of understanding (MoU) here.The MoU for the...

Amcorp Prop will suffer a completion delay for a major London project.KUALA LUMPUR: Affin Hwang Capital Research has downgraded Amcorp Properties to Hold on the back of expected project delays and uncertainties ahead due to Brexit.The research house said on Friday Amcorp Prop will suffer a...

Artist impression of the 15-storey Landmark House in London,which will be redeveloped.KUALA LUMPUR: Eastern & Oriental Bhd (E&O) says Britain's exit from the European Union (Brexit) will not have any negative impact on the total net realisable value of its properties in the UK.The property company...

PETALING JAYA: Malayan Banking Bhd (Maybank) has been appointed the joint lead arranger, together with Kuwait’s Warba Bank, for the construction of a luxury residential tower in Manhattan, New York worth US$219mil.The financing comprises a US$174mil senior construction loan and a US$45mil...