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Ringgit opens higher against US dollar

Ringgit opens higher against US dollar

KUALA LUMPUR: The ringgit opened higher today, supported by stronger demand for the local note. At 9am, the ringgit was quoted at 4.0770/0820 against the greenback from 4.0830/0900 last Friday. The strengthening of the ringgit against the greenback was partly due to the release of US jobs data last week, which signalled that any hike […]

September 5, 2016 | By | Reply More
Bursa Malaysia higher in early session

Bursa Malaysia higher in early session

KUALA LUMPUR: Bursa Malaysia was higher in the early session this morning as buying sentiment improved after weaker-than-expected US jobs data diminished concerns about a possible interest rate hike by the Federal Reserve. At 9.16am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.77 points better at 1,673.56 against Friday's close of 1,671.79. It […]

September 5, 2016 | By | Reply More
Bursa Malaysia plans market for SMEs, seeks public feedback

Bursa Malaysia plans market for SMEs, seeks public feedback

PETALING JAYA: Bursa Malaysia Bhd has published a consultation paper seeking public feedback on the proposal to establish a market on the exchange to provide small and medium companies (SMEs) greater access to the capital market. In a statement last Friday, Bursa Malaysia CEO Datuk Seri Tajuddin Atan said SMEs are a core contributor to […]

September 4, 2016 | By | Reply More
Atilze in talks with insurers

Atilze in talks with insurers

KUALA LUMPUR: Atilze Digital Sdn Bhd, which signed a collaboration agreement (CA) with Axiata Group Bhd last Friday, is in talks with insurance companies in Malaysia and Indonesia to provide connected car solutions for motor insurance. Atilze CEO Gerard Lim said there is huge interest from insurance companies offering motor coverage as the solutions would […]

September 4, 2016 | By | Reply More
VSI’s HK unit issues profit warning

VSI’s HK unit issues profit warning

PETALING JAYA: V.S. Industry Bhd’s (VSI) 43.7% subsidiary V.S. International Group (VSIG), which is listed on the Hong Kong Stock Exchange, has issued a profit warning in relation to its financial performance for the year ended July 31, 2016 (FY16). In a filing with Bursa Malaysia last Friday, VSI said VSIG is expected to register […]

September 4, 2016 | By | Reply More
Selangor: Up to 30% of SOHO, serviced apartment projects must be affordable uunits

Selangor: Up to 30% of SOHO, serviced apartment projects must be affordable uunits

SHAH ALAM: Property developers will have to allocate up to 30% of affordable units for their serviced apartment and boutique office projects, depending on type and location, according to the Selangor Housing and Property Board (LPHS). Its executive director Norzaton Aini Mohd Kassim said developers who build serviced apartments and small office home offices (SOHO), small […]

September 4, 2016 | By | Reply More
Corporate Malaysia Q2 earnings remain ‘underwhelming’

Corporate Malaysia Q2 earnings remain ‘underwhelming’

PETALING JAYA: Corporate Malaysia’s second quarter reporting season remained a disappointing one, although there was a slight improvement compared with the previous quarter. “Corporate earnings continued on a recessionary mode despite resilient GDP (gross domestic product) growth at 4.0% year-on-year in 2Q16,” HLIB Research analyst Sia Ket Ee said in a report last Friday. “In […]

September 4, 2016 | By | Reply More
Xi: World economy at risk from rising protectionism

Xi: World economy at risk from rising protectionism

HANGZHOU: The global economy is being threatened by rising protectionism and risks from highly leveraged financial markets, Chinese President Xi Jinping said at the opening of a two-day summit of leaders from Group of 20 (G20) nations. His warning yesterday followed bilateral talks with Barack Obama that the US president described as “extremely productive”, but […]

September 4, 2016 | By | Reply More
Ringgit likely to be lower against greenback next week

Ringgit likely to be lower against greenback next week

KUALA LUMPUR: The ringgit is expected to be lower against the US dollar next week, given the persistent subdued consumer sentiment, depressed crude oil prices and an expectation that the US Federal Reserve (Fed) would raise interest rates. Affin Hwang Investment Bank Vice-President/Retail Research Head Datuk Dr Nazri Khan Adam Khan said traders remained cautious […]

September 3, 2016 | By | Reply More
Bursa Malaysia likely to see cautious trading next week

Bursa Malaysia likely to see cautious trading next week

KUALA LUMPUR: Bursa Malaysia is likely to see cautious trading next week with sentiment weighed down by bearish internal developments, especially falling commodity prices and a weaker ringgit, a dealer said. Affin Hwang Investment Bank Vice-President/Retail Research Head Datuk Dr Nazri Khan Adam Khan said the weak Nikkei Malaysia Manufacturing Purchasing Managers' Index (PMI) which […]

September 3, 2016 | By | Reply More