Plane wreckage found on French island to be sent for investigation
A two-metre long piece of plane wreckage was washed up on the rocky beach of La Reunion, a small French island in the Indian Ocean, some 4,000km from the area where missing flight MH370 was thought to have gone down last year. The debris will be sent to France for investigation and Malaysian investigators rushed to the scene, as hopes and expectations mounted around the object. Some experts are convinced it was a flaperon from the wing of a Boeing 777, which was the same model used for MH370. (The Malay Mail Online)
Minimum RM9 for cigarettes from Aug 1
The government has announced that the minimum retail price of cigarettes, currently set at RM7, will be increased to RM9 starting from August 1, and going up to RM10 after a year. In addition, a rule will be fully enforced by Jan 1 next year which declares all public parks and public areas in national parks as no-smoking zones, as well as air-conditioned eateries. (The Star Online)
TA Enterprise expands property to Australia and Canada
TA Enterprise Bhd is planning to expand its property development and hotel operations to Australia and Canada, where it already has a presence for over 10 years. Its portfolio includes the Little Bay Residential Development project in Sydney and Trump International Hotel & Tower Vancouver. According to managing director and CEO Alicia Tiah, the company is keen to buy if they spot a good deal, as there is a shortage of housing in Sydney and Vancouver, and the rental market is good. (The Sun Daily)
Malaysia ideal spot for foreign investor regional offices
The Malaysian Investment Development Authority (Mida) said that Malaysia is the ideal location for foreign investors to set up regional offices, due to its strong and diversified base across multiple industries. In the first quarter of the year, Mida had approved 3,569 regional establishment projects, including representative offices, regional offices, operational headquarters, international procurement centres, and others. Investments in the first half were strong and the trend was expected to continue in the second half despite the challenging global and local economy. (The Star Online)
Triplc net profit drops 80.9% in 4Q
Property construction investment holding company Triplc Bhd saw its net profit plunge 80.9% for the fourth quarter (4Q) ended May 31, while its revenue and annual revenue shrunk substantially as well. However, the completion of the UITM Zone 1 Phase 2 construction project, as well as commencement of maintenance services, is expected to contribute positively to the group’s future earnings and cash flows. (The Edge Markets)
