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Ringgit could benefit from US govt shutdown

Ringgit could benefit from US govt shutdown

PETALING JAYA: The Greenback could potentially weaken in light of the political development in the United States, as the shutdown of government services moved into the third day, spelling good news for the ringgit. FXTM Research Analyst Lukman Otunuga told SunBiz that the US Dollar could see further loses should the shutdown persist longer than […]

January 22, 2018 | By | Reply More
GHL starts Alipay services in Philippines

GHL starts Alipay services in Philippines

KUALA LUMPUR: GHL Systems Bhd will offer Alipay payment acceptance services to in-stores merchants as well as online merchants in the Philippines. The rollout will start with physical merchants this month and eventually extend to e-commerce merchants. Philippines marks the third Asean country after Malaysia and Thailand since GHL’s tie-up with Alipay to offer a […]

January 22, 2018 | By | Reply More
MSM CEO leaves, claims ‘constructive dismissal’

MSM CEO leaves, claims ‘constructive dismissal’

PETALING JAYA: MSM Malaysia Holdings Bhd group’s president/ CEO by Datuk Mohamad Amri Sahari @ Khuzari has left the group claiming “constructive dismissal” 20 months into the job. The group has appointed chief technical officer Mohd Shaffie Said as its new acting CEO, effective today. In a statement, MSM said the appointment is following the […]

January 22, 2018 | By | Reply More
ManagePay aims to  launch money-lending business in April

ManagePay aims to launch money-lending business in April

PETALING JAYA: ManagePay Systems Bhd (MPay) is targeting to launch its money-lending business in April after receiving approval from the government. The group told Bursa Malaysia today that its wholly owned subsidiary ManagePay Resources Sdn Bhd (MRSB) had on Jan 19 received a letter of approval (LoA) dated Jan 17 from the Moneylenders and Pawnbrokers […]

January 22, 2018 | By | Reply More
Keep tabs on inflation risks, investors advised

Keep tabs on inflation risks, investors advised

PETALING JAYA: UOB Asset Management (Malaysia) Bhd cautioned investors to stay alert to any possible rise in inflation, which may adversely affect the value of both equity and fixed income securities, despite the current stock market rally. “For example, in the near-term, a sudden rise in inflation may heighten uncertainty about the economy, leading to […]

January 22, 2018 | By | Reply More
Foreign funds maintain buying momentum on Bursa

Foreign funds maintain buying momentum on Bursa

PETALING JAYA: Foreign investors continued with the purchase of Malaysian equities for the fourth consecutive week last week ended Jan 19, although the level seems to be gradually decreasing, MIDF Research said. Based on preliminary data from Bursa, which excluded off market deals, foreign investors acquired RM702.2 million net amount last week, lower than the […]

January 22, 2018 | By | Reply More
Ringgit ends higher on firmer oil prices

Ringgit ends higher on firmer oil prices

KUALA LUMPUR: The ringgit remained constructive to close higher against the US dollar today, backed by the firmer oil prices coupled with the anticipated Bank Negara Malaysia’s (BNM) Overnight Policy Rate (OPR) announcement on Thursday. At 6pm, the local note finished at 3.9330/9370 against the greenback from 3.9360/9400 on Friday. OANDA Head of Trading for […]

January 22, 2018 | By | Reply More
Bursa Malaysia rebounds to close higher

Bursa Malaysia rebounds to close higher

KUALA LUMPUR: Bursa Malaysia reversed earlier losses and finished today’s session higher on the back of buying support recovery in penny stocks, as well as big capital stocks. At 5pm, the benchmark FTSE Bursa Malaysia KLCI finished at 1,833.15, up 4.32 points from Friday’s close of 1,828.83. It opened 6.38 points higher at 1,835.21. The […]

January 22, 2018 | By | Reply More
Bursa Malaysia closes for Thaipusam, Federal Territory day

Bursa Malaysia closes for Thaipusam, Federal Territory day

KUALA LUMPUR: Bursa Malaysia Bhd and its subsidiaries would be closed for trading on Jan 31 and Feb 1, 2018 in conjunction with the Thaipusam and Federal Territory Day public holidays. In a statement today, Bursa Malaysia said, the exchange and its subsidiaries would resume operations on Friday, Feb 2, 2018. — Bernama

January 22, 2018 | By | Reply More
HSBC: Ringgit financing stays relevant for China's Belt and Road Initiatives

HSBC: Ringgit financing stays relevant for China's Belt and Road Initiatives

KUALA LUMPUR: Ringgit financing remains relevant for the Belt and Road Initiatives in Malaysia, even as demand for Chinese renminbi (RMB) soars, according to HSBC. HSBC’s global head of RMB business development Candy Ho foresees increasing demand for RMB, but at the same time, the ringgit is also becoming important. She said corporates need to […]

January 22, 2018 | By | Reply More