Tue05302017

LAST_UPDATEMon, 29 May 2017 11pm

Proton Sells 49.9% Stake To Geely, No Longer Owns Lotus

China-based automotive company, Geely Automobile (Geely) has become the strategic partner to Perusahaan Otomobil Nasional Sdn Bhd (Proton) after signing an agreement to purchase 49.9 per cent of the company's equity.

Read more: Proton Sells 49.9% Stake To Geely, No Longer Owns Lotus

Proton-Geely Partnership To Ensure Future Growth Of National Carmaker

KUALA LUMPUR -- News that China's Geely Automobile Holdings Ltd has emerged as the foreign strategic partner for Proton augurs well for Malaysia as the partnership will place the national carmaker on a firm footing towards future growth.

Read more: Proton-Geely Partnership To Ensure Future Growth Of National Carmaker

RHB Pre-Tax 1Q Pre-Tax Profit Trimmed To RM658.27 Mln

KUALA LUMPUR: RHB Bank Bhd’s pre-tax profit for the first quarter (1Q) ended March 31, 2017 was reduced at RM658.27 million from RM755.27 million recorded in the same quarter in 2016.

Read more: RHB Pre-Tax 1Q Pre-Tax Profit Trimmed To RM658.27 Mln

Moody's Downgrades China, Warns Of Fading Financial Strength As Debt Climbs

Moody's Investors Service downgraded China's credit ratings on Wednesday, saying it expects the financial strength of the world's second-biggest economy will erode in coming years as growth slows and debt continues to rise.

Read more: Moody's Downgrades China, Warns Of Fading Financial Strength As Debt Climbs

Malaysia's GDP Growth Is Beyond Expectations Of Many - Wahid

Pic: BernamaSHAH ALAM: Malaysia's robust economic growth of 5.6 per cent in the first quarter of 2017 is beyond the expectations of many, said Permodalan Nasional Bhd Chairman Datuk Seri Abdul Wahid Omar.

Read more: Malaysia's GDP Growth Is Beyond Expectations Of Many - Wahid

Geely Expected To Announce Deal To Buy Controlling Stake In Proton, Take Control Of Lotus

Pic: Reuters

China-based Zhejiang Geely Holding Group reportedly will acquire 49 per cent of Proton from DRB-Hicom, beating out rival bidder PSA Group.

Read more: Geely Expected To Announce Deal To Buy Controlling Stake In Proton, Take Control Of Lotus

FCC Won't Take Action Against Colbert Over Trump Joke

"Consistent with standard operating procedure, the FCC's Enforcement Bureau has reviewed the complaints and the material that was the subject of these complaints," the FCC said in a statement. "The Bureau has concluded that there was nothing actionable under the FCC's rules."

Read more: FCC Won't Take Action Against Colbert Over Trump Joke

Dollar Firm After Bounce From Multi-Month Lows, Focus Shifts To Fed

Pic: Reuters

TOKYO: The dollar held firm early on Wednesday, having rebounded from 6-1/2-month lows against its major peers thanks to a rise in U.S. Treasury yields, with investor focus now turning towards the Federal Reserve's monetary policy stance.

Read more: Dollar Firm After Bounce From Multi-Month Lows, Focus Shifts To Fed

Greece Says Lenders Have Moral, Political, Legal Duty To Meet Obligations

Pic: Reuters

Greece said on Tuesday it has done its part on reforms and that foreign creditors had a "moral, political and legal" duty to meet their obligations toward it.

Read more: Greece Says Lenders Have Moral, Political, Legal Duty To Meet Obligations

RHB Bank Records RM500.3m Net Profit For The First Quarter 2017

PETALING JAYA: RHB Bank Bhd's net profit declined 11.4% to RM500.3 million in the first quarter (Q1) ended March 31, 2017, from RM564.9 million in the previous corresponding quarter, mainly due to lower total income and higher impairment losses for loans.

Read more: RHB Bank Records RM500.3m Net Profit For The First Quarter 2017