Business

SUBANG, Six airlines will resume narrow-body aircraft operations on Aug 1, 2024, at the Sultan Abdul Aziz Shah Airport (LTSAAS) in Subang, Selangor. Transport Minister Anthony Loke said the six airlines are FireFly, AirAsia Malaysia, Batik Air Malaysia, SKS Airways, Transnusa, and Scoot Pte Ltd. ‘The first jet operation, by Batik Air Malaysia, is scheduled for take-off on Aug 1 to Penang at noon and the arrival of Transnusa’s flight from Jakarta is scheduled at 2 pm on the same day,’ he told a press conference after a walkabout at LTSAAS, also known as Subang Airport, today. He said flight

KUALA LUMPUR, CIMB Group Holdings Bhd’s (CIMB) share price was up at mid-morning ahead of the announcement of its second quarter of 2024 (2Q 2024) results on Aug 30. At 11 am, CIMB increased 1.0 sen to RM7.25 with 3.44 million shares traded. In a note today, Maybank Investment Bank Bhd said CIMB Group’s financial performance to-date appears to be trending towards its return on equity (ROE) target of 11-11.5 per cent for the year. ‘Another special dividend could further boost sentiment towards the stock. ‘We maintain a ‘buy’ call on CIMB’s shares and our target price (TP) of RM7.70

KUALA LUMPUR, Malaysia Airports Holdings Bhd’s (MAHB) airport maintenance cost will rise to 34 per cent in 2024. To ensure that all airports it operated nationwide were well maintained, MAHB’s outgoings for maintenance totalled RM546 million in 2023, the Transport Ministry said. It added that MAHB allocated RM19.1 million in 2023 to maintain Sarawak’s airports and airstrips. “Maintenance allocation increased to RM27.1 million in 2024, which is a 41.9 per cent rise compared to 2023,” the ministry said in Parliament today in response to Pele Peter Tinggom who said the country’s airports, especially Sarawak’s, need to be upgraded, repaired and

KUALA LUMPUR, The National Chamber of Commerce and Industry of Malaysia (NCCIM) has appointed Datuk Seri N. Gobalakrishnan as president for the 2024 – 2026 term. Gobalakrishnan, who succeeds Tan Sri Soh Thian Lai, said his leadership will focus on further enhancing NCCIM’s stature within government circles, and local and international business communities, as well as supporting the MADANI Government’s policies and fostering sustainable economic growth. The association said it is excited about the fresh perspectives Gobalakrishnan will bring. “His extensive experience and proactive leadership are expected to lead NCCIM to new heights of success and cooperation,” it said in

KUALA LUMPUR, The Malaysian Competition Commission (MyCC) has imposed financial penalties of more than RM570 million on nearly 100 companies involved in cartel activities in the country, the Dewan Negara was told today. The Ministry of Domestic Trade and Cost of Living (KPDN) in a written reply to Senator Datin Ros Suryati Alang said the MyCC is also actively investigating 18 cartel cases involving more than 500 enterprises. ‘Fourteen out of the 18 cartel cases involved fraudulent bid-rigging in government procurement with a cumulative value exceeding RM3.3 billion,’ it said. To ensure effective and efficient enforcement, KPDN said that it