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4.9pc GDP growth considered positive: BMMB CEO

4.9pc GDP growth considered positive: BMMB CEO

KUALA LUMPUR: Malaysia’s gross domestic product (GDP) growth of 4.9 per cent in the second quarter of 2015 is positive considering the signs of global economic slowdown. “It shows the country’s resilience in terms of exports despite the rest of the world slowing down,” said Bank Muamalat Chief Executive Officer, Datuk Mohd Redza Shah Abdul […]

August 13, 2015 | By | Reply More
KL shares on the uptrend at mid-afternoon

KL shares on the uptrend at mid-afternoon

KUALA LUMPUR: Bursa Malaysia maintained its strong uptrend momentum at mid-afternoon today on gains in heavyweights led by finance-related stocks, dealers said. At 3.05 pm, the key index, FTSE Bursa Malaysia KLCI (FBM KLCI), rose 14.40 points to 1,624.33 points. Among the gainers in finance-related stocks were Maybank, which added 19 sen to RM8.60, CIMB […]

August 13, 2015 | By | Reply More
PIAM revises premium growth downwards

PIAM revises premium growth downwards

KUALA LUMPUR: The General Insurance Association of Malaysia (PIAM) has revised growth for the sector’s gross written premiums to three to four per cent for 2015 from 5.5 per cent to 6.5 per cent previously. This was due to the anticipated weakening of the ringgit against the US dollar, cautious economic outlook, as well as […]

August 13, 2015 | By | Reply More
Bursa remains positive at midday

Bursa remains positive at midday

KUALA LUMPUR: Bursa Malaysia remained in positive territory at mid-day today lifted by continous buying in blue-chip counters amid the announcement of Malaysia’s positive gross domestic product, dealers said. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 16.19 points or one per cent to 1,626.12 after moving between 1,605.46 and 1,626.12 throughout […]

August 13, 2015 | By | Reply More
Kenanga maintains ‘market perform’ call on Nestle

Kenanga maintains ‘market perform’ call on Nestle

KUALA LUMPUR: Kenanga Research has maintained a ‘market perform’ call on Nestle (Malaysia) Bhd following a better first half 2015 performance. Nestlé registered a pre-tax profit of RM403.81 million for its first half ended June 30, 2015, up from RM393.87 million in the corresponding period last year, with revenue at RM2.42 billion compared to RM2.54 […]

August 13, 2015 | By | Reply More
No need to peg ringgit to US dollar: Zeti

No need to peg ringgit to US dollar: Zeti

KUALA LUMPUR: Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz said there is no need to peg the ringgit to the US dollar to address the currency’s depreciation. She said there is no need for capital controls either as the current flexible exchange rate regime helps Malaysia to adjust. Malaysia pegged the ringgit […]

August 13, 2015 | By | Reply More
Bank Negara officials investigated over 1MDB: Zeti

Bank Negara officials investigated over 1MDB: Zeti

KUALA LUMPUR: Seven central bank officials were investigated by the police in connection with 1Malaysia Development Bhd, said Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz. “It was on the purported leakage of information,” she said in response to questions during a media briefing on the economy here today. Zeti also said Bank […]

August 13, 2015 | By | Reply More
Bursa remains in positive territory at mid-day

Bursa remains in positive territory at mid-day

KUALA LUMPUR: – Bursa Malaysia remained in positive territory at mid-day today lifted by continous buying in blue-chip counters amid the announcement of Malaysia’s positive gross domestic product, dealers said. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 16.19 points or one per cent to 1,626.12 after moving between 1,605.46 and 1,626.12 […]

August 13, 2015 | By | Reply More
Zeti: I'll stay on until retirement

Zeti: I'll stay on until retirement

KUALA LUMPUR: Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz says she will stay on till her term expires end April next year. The 68-year-old said she would write a book upon her retirement. By then, she would have served 16 years as the central bank head out of the 35 years there, […]

August 13, 2015 | By | Reply More
Mustapa: Govt to take steps to defend ringgit and overcome impact on SMEs

Mustapa: Govt to take steps to defend ringgit and overcome impact on SMEs

KUALA LUMPUR: – The government will take steps to defend the ringgit and overcome its impact on small medium enterprises (SMEs). Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said the move is also to assist local entrepreneurs, particularly Bumiputeras, affected by the uncertain global economy. “Looking back at the 1997-1998 financial crisis, […]

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