KL FIRMS PLAN PALM OIL PLANTS IN MYANMAR
MALAYSIAN companies are planning to build palm-oil factories in Myanmar, according to a Malaysian minister.
Minister of Plantation Industry and Commodities Douglas Uggah Embas told reporters that Malaysian companies are arranging to invest in the construction of palm-oil factories in Myanmar.
ELEVEN MEDIA/ASIA NEWS NETWORK
UBS STARTS GOLD-VAULT SERVICE IN SINGAPORE
UBS AG, Switzerland's biggest bank, has started storing gold for wealth-management clients at a facility in Singapore, citing interest from investors in the region even after the metal slumped into a bear market.
The leased vault in the Singapore FreePort is available for clients in the country and from Hong Kong.
PIANO MAKER STEINWAY BOUGHT FOR $555m
STEINWAY Musical Instruments, owner of the 160-year-old piano maker, agreed to be bought by private-equity firm Kohlberg & Co for about US$438 million (S$555 million).
The deal includes a 45-day period during which Steinway can solicit other proposals, said a statement yesterday.