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Ringgit higher against US dollar

Ringgit higher against US dollar

KUALA LUMPUR: The ringgit opened higher against the US dollar Wednesday, lifted by continued buying interest from exporters, dealers said. At 9.25am, the ringgit was quoted at 4.0770/0840 against 4.0860/0920 at 5pm on Tuesday. “Many traders were seen covering their ringgit short positions against the greenback. “Exporters’ demand to sell and hedge foreign currencies for […]

August 19, 2015 | By | Reply More
Bursa Malaysia higher in early trade

Bursa Malaysia higher in early trade

KUALA LUMPUR: Share prices on Bursa Malaysia were higher, in early trade, on continued buying activity despite the overnight fall on Wall Street, dealers said. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,586.51, up 6.91 points, after opening 15.08 point higher at 1,594.68. Gainers led losers 149 to 71, while […]

August 19, 2015 | By | Reply More
IGB’s Q2 bottom line down 17.09%

IGB’s Q2 bottom line down 17.09%

PETALING JAYA: IGB Corp Bhd’s net profit for the second quarter ended June 30, 2015 fell 17.09% to RM55.35 million from RM66.76 million in the previous corresponding period, due to lower contributions from the property development and hotel divisions. The earnings was dragged down by the recognition of an employee benefit expense of about RM11 […]

August 18, 2015 | By | Reply More
AirAsia sees US$160m savings from lower fuel prices

AirAsia sees US$160m savings from lower fuel prices

KUALA LUMPUR: AirAsia Bhd foresees US$160 million (RM654.40 million) in cost savings next year from weakening crude oil prices as the group’s hedging tenure ends in 2015. “Sixty percent of the AirAsia fleet is hedged. Oil is a very big component of our costs and that has tumbled. No hedge next year,” said group CEO […]

August 18, 2015 | By | Reply More
Time dotCom plans RM1b sukuk to fund fibre expansion

Time dotCom plans RM1b sukuk to fund fibre expansion

PETALING JAYA: Time dotCom Bhd is planning a RM1 billion sukuk programme to expand its fibre footprint, among others. RAM Ratings has assigned a preliminary rating of AA3/Stable to the Islamic medium-term notes (MTN) programme (2015/2035). “The rating reflects Time dotCom’s sound business position in the fixed-line space and the earnings diversity from its international […]

August 18, 2015 | By | Reply More
Genting, IJM shares fall on Norway fund exclusion

Genting, IJM shares fall on Norway fund exclusion

PETALING JAYA: Shares of Genting Bhd and IJM Corp Bhd fell yesterday amid market barometer FBM KLCI’s 0.45% gain, after a continued exclusion by Norway’s sovereign wealth fund manager Norges Bank Investment Management. Genting’s share price went down 4 sen or 0.56% to close at RM7.10 on some 4.23 million shares done. IJM, meanwhile, slipped […]

August 18, 2015 | By | Reply More
RAM Credit Info, Experian team up to roll out I-Score

RAM Credit Info, Experian team up to roll out I-Score

KUALA LUMPUR: The success of small and medium enterprises (SMEs) is crucial for Asean to be truly integrated, says Deputy International Trade and Industry Minister Datuk Lee Chee Leong. “SMEs should explore opportunities from liberalisations under the Asean Economic Community (AEC) to expand trade and investment into neighbouring countries. Resilient SMEs should also start to […]

August 18, 2015 | By | Reply More
Auto sales down 2.69% in July

Auto sales down 2.69% in July

PETALING JAYA: Total vehicle sales in July fell 2.69% to 58,646 units from 60,269 units in the same month last year, according to the Malaysian Automotive Association (MAA). However, compared with June, it was up 2.1% on the back of Hari Raya festive season campaigns and aggressive sales promotions by industry players, said MAA in […]

August 18, 2015 | By | Reply More
Canadian fund manager in joint venture with Pavilion Group

Canadian fund manager in joint venture with Pavilion Group

KUALA LUMPUR: Canada Pension Plan Investment Board (CPPIB) will invest RM485 million for a 49% stake in the development of Pavilion Damansara Heights. The Canadian pension fund manager and real estate company yesterday announced its joint venture with Pavilion Group to develop the mixed-use development project in Damansara Heights, Kuala Lumpur. Representing CPPIB’s first direct […]

August 18, 2015 | By | Reply More
Bina Puri wins RM100m Kenyir resort job

Bina Puri wins RM100m Kenyir resort job

PETALING JAYA: Construction services provider Bina Puri Holdings Bhd has bagged a contract worth RM100 million from the Terengganu State Public Work director, to construct an island resort in Kenyir Lake, Terengganu. In a statement yesterday, the group said its wholly-owned subsidiary Bina Puri Sdn Bhd received the letter of award on June 22, 2015, […]

August 18, 2015 | By | Reply More