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Ringgit starts the week on weaker note

Ringgit starts the week on weaker note

KUALA LUMPUR: The ringgit started the week on a weaker note against the US dollar today as foreign banks continued to offload the local unit, a currency trader said. At 9.20am, the ringgit was quoted at 4.1110/1190 to the greenback from 4.0750/0800 at 5pm on Friday. “Players continued to trade for long dollars and short […]

August 17, 2015 | By | Reply More
Bursa Malaysia opens lower

Bursa Malaysia opens lower

KUALA LUMPUR: Bursa Malaysia opened lower today, extending last week’s sell-off on the back of various external and internal developments, a dealer said. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.72 points down at 1,663.56, after opening 6.01 points easier at 1,590.81. A dealer said market sentiment was still poor amid […]

August 17, 2015 | By | Reply More
Petronas warns of dwindling operating cash flow

Petronas warns of dwindling operating cash flow

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which has been badly hit by the low oil price, has warned that its cash flow from operations this year is not expected to meet its capital expenditure (capex) and dividend commitments moving forward. “This means that we’ll have to persevere through with more austerity measures and will have […]

August 16, 2015 | By | Reply More
MaybankIB cut Malaysia’s 2015 current account forecast

MaybankIB cut Malaysia’s 2015 current account forecast

PETALING JAYA: Maybank Investment Bank Research (MaybankIB) has trimmed Malaysia’s current account surplus to RM34.4 billion or 3.0% of gross domestic product (GDP) from RM40.4 billion or 3.5% of GDP previously. “We continue to expect a challenging external trade environment in the second-half of 2015 (2H15) amid renewed weakness in commodity prices that matters to […]

August 16, 2015 | By | Reply More
Economists cautious of GDP growth in H2’2015

Economists cautious of GDP growth in H2’2015

PETALING JAYA: Most economists opted to stay conservative on the second half of 2015 (H215) outlook, given that both external and domestic downside risks have escalated in the current third quarter (Q315). This despite the higher than expected gross domestic product (GDP) growth of 5.3% recorded in 1H15. Hong Leong Investment Bank (HLIB) Research cautioned […]

August 16, 2015 | By | Reply More
FX costs hedged: GAB

FX costs hedged: GAB

PETALING JAYA: Guinness Anchor Bhd (GAB), which posted a 8.1% jump in net profit for the financial year ended June 30, 2015 (FY15), said over half of its foreign exchange (FX) cost exposure is “naturally hedged”. Finance director Atul Chhaparwal said out of its total costs, FX costs excluding duties, stood at a single digit. […]

August 16, 2015 | By | Reply More
AirAsia’s damage claims ‘wholly unjustified’, says MAHB

AirAsia’s damage claims ‘wholly unjustified’, says MAHB

PETALING JAYA: Malaysia Airports Holdings Bhd (MAHB) has categorically denied that it owes AirAsia Bhd for damages due to cracking and ponding at the klia2, saying that the low-cost carrier claims as “wholly unjustified.” In an announcement to Bursa Malaysia last Friday, MAHB said AirAsia’s demand for RM409 million were “unsupported by any particulars and […]

August 16, 2015 | By | Reply More
Gamuda awarded PDP for RM27b Penang project

Gamuda awarded PDP for RM27b Penang project

PETALING JAYA: Gamuda Bhd has been appointed as the Project Delivery Partner (PDP) by Penang government to implement the RM27 billion Penang Transport Master Plan (PTMP). Gamuda told the stock exchange that SRS Consortium received the letter of award (LoA) from the Penang state government last Friday. The master plan comprises the different public transport […]

August 16, 2015 | By | Reply More
Mah Sing aborts RM359.56m Seremban land acquisition

Mah Sing aborts RM359.56m Seremban land acquisition

PETALING JAYA: Mah Sing Group Bhd has aborted its plans to buy a piece of prime freehold land measuring 1,051.3 acres near Seremban for RM359.56 million. Its wholly-owned subsidiary, Grand Prestige Development Sdn Bhd, had through its solicitors sent a letter to the vendors informing that the sale and purchase agreement (SPA) is void and/or […]

August 16, 2015 | By | Reply More
Telent seeks listing on Bursa

Telent seeks listing on Bursa

XIAMEN: China-based Telent Outdoor (Hong Kong) Technology Co Ltd, which is seeking listing on the Main Market of Bursa Malaysia, expects its annual growth momentum of between 20-30% to continue, supported by higher demand for outdoor outfits. Ranked second in the China outdoor outfits market, Telent specialises in the design, manufacture, marketing, brand management and […]

August 16, 2015 | By | Reply More