NST Online Business Times : latest
NST Online Business Times : latest |
| MAS to cut unprofitable routes, focus on Asia Posted: 21 Nov 2011 05:15 PM PST Malaysian Airline System Bhd, which posted a third-quarter loss, expects fourth-quarter earnings to be weaker and said it will cut unprofitable routes and focus on higher-yielding destinations in Asia. "With the adoption of a leaner network, management shall also be accelerating the return of ageing aircraft, and in so doing improve the fuel efficiency of our fleet," the carrier said in a statement to the Kuala Lumpur stock exchange. The stock fell to a six-week low in Kuala Lumpur trading after reporting a third-quarter loss of RM477.6 million. Its shares dropped 1.5 percent to RM1.34 at 9:11 a.m local time, set for their lowest close since Oct. 10. -- Bloomberg  Full content generated by Get Full RSS. |
| Posted: 21 Nov 2011 07:13 PM PST [unable to retrieve full-text content]Harvest Court Industries Bhd shares plunge following news that Mohd Nazifuddin Mohd Najib resigned yesterday as the non-executive director of the company. Mohd Nazifuddin holds 3.982 million shares in Harvest Court. As at 9.55 am, the counter fell 42 sen to 98 sen and was the major loser thus far. On Nov 15, Bursa Malaysia Securities suspended trading in the counter saying that securities of Harvest Court Industries and Harvest Court Industries warrants were designated securities with effect from Nov 16 due to excessive speculation in trading of both securities. With the designation, trading in the counter was allowed but required upfront payment before purchase and a free balance of securities before disposal can be made. Yesterday, the counter closed four sen higher at RM1.40. Harvest Court operates in four segments namely timber product manufacturing; construction; property development; and investment holding and others.-- Bernama |
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