KUALA LUMPUR: Proton Holdings Bhd’s share price plunged 18.6% to a seven-year low of RM4.02 yesterday as investors dumped the stock after the government backtracked from an earlier decision to seek a foreign partner for the beleaguered national carmaker.

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KUALA LUMPUR: Hong Kong led Asian markets lower yesterday, with the Hang Seng Index closing more than 4% down, as investors turned jittery after US oil prices neared US$100 (RM338) a barrel and the Federal Reserve lowered US growth projections.

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KUALA LUMPUR: Selangor will pay 10 sen for every cubic metre of raw water supplied by Pahang under the inter-state water transfer agreement which will be signed in Kuantan today.

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KUALA LUMPUR: Welli Multi Corp Bhd’s three main shareholders have collectively sold just over 16% of the company to its group managing director Datuk Abdul Ghani Ali Kadir, the company said yesterday.

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PETALING JAYA: CIMB Bank Bhd was named the “Most Improved Retail Bank in Asia” at the Asian Banking & Finance Retail Banking Awards held on Nov 6 in Singapore.

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PETALING JAYA: Dialog Group Bhd expects a 20% to 30% annual earnings growth over the next few years amid high oil prices and on the back of bright prospects for all its divisions, particularly for its tank terminal facilities and catalyst handling services.

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KUALA LUMPUR: The government’s decision that Proton Holdings Bhd should go it alone in its quest to turn around its business has thrown a spanner in the works for local players who wanted to take up a strategic stake in the national carmaker.

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KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd’s net profit for its third quarter ended Sept 30, 2007 (3Q07) rose 9.3% to RM26.63 million from RM24.36 million a year earlier, despite sales slipping 4.7% over the same period.

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KUALA LUMPUR: Edaran Otomobil Nasional Bhd posted a net profit of RM14.92 million in the third quarter ended Sept 30, 2007 from a RM13.96 million net loss a year earlier, driven by higher sales of Proton vehicles.

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KUALA LUMPUR: Construction group Ahmad Zaki Resources Bhd (AZRB) is looking to secure some RM1billion in construction projects in the East Coast Economic Region (ECER), said its managing director Datuk Wan Zakariah Muda.

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KUALA LUMPUR: Magnum Corporation Bhd’s share price closed 20 sen or 6.5% higher to RM3.28 yesterday, bucking the weaker market as investors picked up the stock after Multi-Purpose Holdings Bhd’s (MPHB) announcement to take it private.

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KUALA LUMPUR: Synergy Drive Bhd has received the government’s approval in-principle to subscribe for a 60% stake in a consortium to be set up to lay the undersea cables for the transmission of electricity from the Bakun hydroelectric dam to Peninsular Malaysia.

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KUALA LUMPUR: Honda Malaysia Sdn Bhd targets to sell 600 of its fully imported new Honda Stream multi-purpose vehicles (MPV) per annum from next year, managing director and chief executive officer Atsushi Fujimoto said yesterday.

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KUALA LUMPUR: Maxis Communications Bhd is hopeful that the authorities will work with the industry for the proper development of the 2.5GHz and 3.5GHz spectra in alignment with international standards.

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HIAP Teck venture’s success in obtaining its American Petroleum Institute (API) certification will enable the company to officially place its footprint into the burgeoning cum lucrative oil & gas (O&G) industry, says OSK Investment Research.

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HLG Research has reduced its price target for Tenaga Nasional Bhd by 9% to RM9.40 from RM10.30 to reflect the lower-than-expected earnings for fiscal year ended Aug 31, 2007 (FY07) and management’s guidance for a difficult FY08.

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KENANGA Investment Bank Research is maintaining a Buy on LCL Corporation Bhd at RM6.65 with a revised target price of RM8.38 as the company’s ventures into Dubai, Kazakhstan and India take shape.

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KUALA Lumpur Kepong Bhd’s earnings are expected to grow by 30% to RM904.8 million in its fiscal year ending Sept 30, 2008 from RM694.2 million in FY07, boosted by higher crop production and crude palm oil (CPO) price, TA Securities Research said.

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RAM Ratings has placed the AA2/P1 ratings of IOI Corporation Bhd’s RM300 million al-murabahah commercial papers/medium-term notes facility (2001/2008) on rating watch, with a negative outlook.

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CYBERJAYA: IC Microsystems Sdn Bhd (ICmic) has been appointed as consultant by King Abdulaziz City for Science and Technology (KASCT) of Riyadh, Saudi Arabia for the development of a national plan for science and technology for the kingdom in the areas of microelectronics and integrated circuit (IC) design.

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KUALA LUMPUR: Dynaura Trading Sdn Bhd disposed of 12.84 million shares of Landmarks Bhd, or a 2.67% stake, on Nov 6 at an average price of RM2.96 a piece.

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PETALING JAYA: Bank Kerjasama Rakyat Malaysia Bhd expects to win over 1million new credit card users over the next five years with the launch of its new Islamic Credit Card-i early next year.

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KUALA LUMPUR: Great Eastern Life Assurance (Malaysia) Bhd targets more than RM1 billion in new business premiums in its financial year ending Dec 31, 2008 from an expected RM800 million this year, its chief executive officer Alex Foong Soo Hah said.

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KUALA LUMPUR: US-based Tiger Global Management LLC disposed of 3.14 million shares, or a 1.53% stake, in Jobstreet Corporation Bhd on Nov 14 and ceased to be a substantial shareholder.

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SEPANG: AirAsia Bhd will continue to focus on building a sustainable business amid soaring oil prices, which hit above US$99 (RM334.62) per barrel yesterday, via the expansion of routes and lowering of operating costs, said its group chief executive officer Datuk Tony Fernandes.

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KUALA LUMPUR: Malayan Banking Bhd (Maybank) is targeting to grow its trade finance market share to 30% in its financial year ending June 30, 2008 from 28% currently, with the launch of its online trade finance services next April.

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