Home News Feeds News Feeds The Star Online: Business Update: Wednesday, May 23, 2012 MYT 3:03:32 PM Ekuinas expands further in education with Umtech buy PETALING JAYA: Just two months into its purchase of a controlling interest in Cosmopoint Sdn Bhd, Ekuiti Nasional Bhd (Ekuinas) is again enlarging its footprint in the education sector by buying a 90% stake in its first full-fledged university for RM58.5mil. Khazanah MD says committed to MAS recapitalisation plan Khazanah Nasional Bhd is committed to Malaysian Airline System Bhd's (MAS) recapitalisation plan, says Khazanah managing director Tan Sri Azman Mokhtar. MPHB suspended for material announcement Trading in Multi-Purpose Holdings Bhd securities was voluntarily suspended from 2.30pm to 5pm on Wednesday for a corporate exercise. Petronas Chemical's FY2012 capex at RM2b Petronas Chemicals Bhd estimates its capital expenditure to reach RM2bil this current financial year. Greece worries continues to dampen market sentiment Worries about a possibility of Greece exiting the euro zone continued to weigh down the regional markets including Malaysia on Wednesday while most commodities fell and the ringgit weakened against the US dollar. Painting by Chile's Matta tops Latin American art sale at US$5mil NEW YORK, May 22 (Reuters) - Chilean artist Roberto Matta's "La revolte des contraires" led Christie's Latin American art auction on Tuesday, selling for $5 million and setting a record for the artist viewed as a seminal figure bridging surrealism and abstract expressionism. Indonesia group downgrades 2012 rubber output forecast on rains SINGAPORE, May 23 (Reuters) - Rubber output this year in Indonesia, the world's second-biggest producer, is likely to be around 5 percent below a forecast in January to stand flat with 2011 after heavy rains, a senior official at the Indonesian Rubber Association said on Wednesday. TSH Resources' plantation capex at RM1bil over next 5 yrs TSH Resources Bhd is allocating RM1bil as capital expenditure (capex) for the plantations over the next five years, adding that it had all the necessary key ingredients to sustain its future growth. China to buy over 2,500 commercial planes in 5 years to 2015: Xinhua BEIJING: China plans to buy more than 2,500 commercial aircraft from 2011 to 2015, bringing the country's total fleet size to more than 4,500 jets, Xinhua News Agency reported on Wednesday, citing the country's top aviation regulator. China to boost private energy investment to bolster economy SHANGHAI/BEIJING (Reuters) - China signaled on Wednesday it wanted to ramp up private investment in its energy sector, in line with recently unveiled government plans to fast-track infrastructure investment to help combat the nation's slowing economy. BOJ keeps monetary policy steady TOKYO (Reuters) - The Bank of Japan kept monetary policy steady on Wednesday, saving ammunition for later in case Europe's deepening debt crisis warrants further supportive action to shield the fragile economy. SEC dealt blow in financial-crisis case WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission was dealt a setback in its cases tied to the financial collapse when a federal judge dismissed large parts of its case against former executives at failed mortgage lender IndyMac Bancorp. FSBM's 5.02% stake transacted in off-market deal FSBM Holdings Bhd's six million shares were transacted in an off-market deal at 19 sen each on Wednesday. KNM up on stronger earnings, bucks weaker market KNM Group Bhd's share price bucked the overall cautious market on Wednesday after it reported a stronger set of earnings in the first quarter Blue chips slip in early trade, Genting, CIMB weigh Blue chips fell in early trade on Wednesday, weighed down by losses in Genting Bhd and CIMB as the euro zone debt crisis continued to cast a pall of gloom over regional markets. World Bank cuts China forecast, urges measured policy BEIJING (Reuters): The World Bank cut its economic growth forecast for China this year to 8.2 percent on Wednesday and urged the country to rely on easier fiscal policy that boosts consumption rather than state investment to lift activity. RHB Research maintains Underperform on MAS RHB Research Institute said Malaysian Airline System Bhd's (MAS) core net loss in the first quarter ended March 31, 2012 (Q1, 2012) came in larger that expected. Olympus hesitant over equity tie-up TOKYO: Japan’s scandal-tainted Olympus Corp will not unveil an equity alliance at its major strategy briefing next month, despite speculation it might do so, sources said.        S’pore is Asia’s top convention city for 10th straight year SINGAPORE: When it comes to hosting international business meet-ups and conventions, Singapore cannot be beat. Far East customers may not get what they want in London property rush LONDON: When Hong Kong businessman He paid a £35,000 (US$56,000) deposit on a four-bedroom apartment in Britain, he believed it was a 40-minute walk from central London, his lawyer said. In fact it was a 40-minute journey by high-speed train. IHH’s new hospital in Singapore set to open its doors in July PETALING JAYA: Parkway Pantai Ltd’s (PPL) S$2bil Mount Elizabeth Novena hospital complex in Singapore is on track for its July opening after having recently received its temporary occupation permit from the Building and Construction Authority ahead of schedule. Wah Seong to ride on US plants ACCORDING to an upstream media report, Wah Seong?s arch rival Bredero Shaw has secured a US$45mil (RM140mil) contract to coat 47km of 18-inch subsea pipe for the Julimar development project, which is located offshore Australia. REDtone signs accord with Mimos KUALA LUMPUR: REDtone International Bhd unit REDtone Telecommunications Sdn Bhd and Mimos Bhd have signed an accord that will see REDtone becoming a Mimos technology recipient, with usage rights for the latter’s WiWi and intelligence surveillance platform (ISP) technologies for three years. Maybank Research has Hold call on Axiata, TP RM5.30 Maybank Investment Bank Research said Axiata?s seasonally weaker first quarter ended March 31, 2012 (Q1, 2012) came in at 22% of its full year forecasts, in line with expectations. Govt urged to speed up B5 PETALING JAYA: The Government must speed up the nationwide coverage of the B5 programme, as the current annual take-up rate of about 100,000 tonnes of biodiesel is still insufficient to support the ailing local biodiesel sector, an industry body says. The B5 programme is a blend of 5% biodiesel and 95% fossil fuel.