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Bursa Malaysia opens slightly higher

Bursa Malaysia opens slightly higher

KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened slightly higher today despite a decline in Wall Street’s overnight performance, said a dealer. At 9.10 am, the index was 3.44 points better at 1,625.06, after opening 2.29 points higher at 1,623.91. Gainers led losers 140 to 94, with 148 counters unchanged, 1,418 untraded […]

August 14, 2015 | By | Reply More
Ringgit continues decline against US dollar

Ringgit continues decline against US dollar

KUALA LUMPUR: The ringgit opened lower against the US dollar Friday as foreign banks continued to offload the local note, a currency trader said. At 9.20am, the ringgit was quoted at 4.0360/0430 against the greenback from 4.0080/0130 at 5pm yesterday. “After taking a breather with a mild rebound against the US dollar yesterday, ringgit continued […]

August 14, 2015 | By | Reply More
Malaysian firms can withstand stock market and ringgit shock

Malaysian firms can withstand stock market and ringgit shock

PETALING JAYA: CIMB Research analyst Terence Wong said Malaysian companies are much stronger now compared to that of the 1997 Asian financial crisis despite having been hit by the plunge in the ringgit, which has subsequently ignited renewed selling pressure in the local stock market. He is maintaining its end-2015 KLCI target of 1,800 points, […]

August 13, 2015 | By | Reply More
Ewein's unit inks MoU with Consortium Zenith

Ewein's unit inks MoU with Consortium Zenith

KUALA LUMPUR: Ewein Bhd’s sub-subsidiary Ewein Zenith Sdn Bhd yesterday signed a memorandum of understanding (MoU) with Consortium Zenith BUCG Sdn Bhd (CZBUCG) to develop a wellness hub to be known as “Wellness City of Dreams” in Penang, which could have a potential gross development value (GDV) of RM15 billion. The MoU was inked for […]

August 13, 2015 | By | Reply More
Barakah to tap deepwater installation segment

Barakah to tap deepwater installation segment

PETALING JAYA: Barakah Offshore Petroleum Bhd’s wholly-owned subsidiary PBJV Group Sdn Bhd has entered into a memorandum of collaboration (MoC) with Norwegian subsea service provider Ocean Installer Ltd to exclusively work together in Malaysia to provide deepwater installation of subsea umbilicals, risers and flowlines (SURF) and related services. In a statement yesterday, Barakah said the […]

August 13, 2015 | By | Reply More
Bina Darulaman targets RM193 million GDV from TTIS project

Bina Darulaman targets RM193 million GDV from TTIS project

KUALA LUMPUR: Kedah-based property developer Bina Darulaman Bhd (BDB) is targeting to realise a gross development value (GDV) of RM193 million next year, from its Taman Tunku Intan Safinaz (TTIS) township, via the development of 611 units of affordable apartments and houses. The TTIS township, which is targeted to be fully completed by 2021, entails […]

August 13, 2015 | By | Reply More
BMW launches new 640i Gran Coupe

BMW launches new 640i Gran Coupe

PETALING JAYA: BMW Group Malaysia has unveiled the new BMW 6 Series Gran Coupé, the latest interpretation of the first four-door coupe in the history of the brand, with an injected expression of sportiness, called the M Sport Package. The M Sport package offers the M Aerodynamic kit which includes front and rear apron, as […]

August 13, 2015 | By | Reply More
GDP grew 4.9% in Q2 driven by domestic demand

GDP grew 4.9% in Q2 driven by domestic demand

KUALA LUMPUR: Malaysia achieved a gross domestic product (GDP) growth of 4.9% in the second quarter of this year (2Q15), slower growth compared with the 5.6% it saw in 1Q15, but above expectations given projections of reduced private consumption with the implementation of the Goods and Service Tax (GST) early in the quarter. Bank Negara […]

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 3-4% for 2015 from 5.5-6.5% previously. This was due to the anticipated weakening of the ringgit against the US dollar, cautious economic outlook, as well as moderation in consumer spending following the Goods and Services Tax […]

August 13, 2015 | By | Reply More
BNM: Volatility likely to continue for several months

BNM: Volatility likely to continue for several months

KUALA LUMPUR: A better than expected set of data that contributed to a 4.9% growth in gross domestic product did little to bolster the ringgit yesterday, underlining Bank Negara Malaysia’s (BNM) long-held theory that the local currency has deviated from its fundamentals and become hostage to uncertainties plaguing its domestic and external markets. The ringgit […]

August 13, 2015 | By | Reply More