Author Archive: The Sun Daily

rss feed

Author's Website

Ringgit breaches 4.0 amid yuan devaluation

Ringgit breaches 4.0 amid yuan devaluation

KUALA LUMPUR: The ringgit closed 1.96% lower, breaching the psychological level of 4.0 against the US dollar today, amid China’s central bank weakening the midpoint for the yuan for a second day. At 5pm, the local note was quoted at 4.0375/0415 against the greenback from 3.9600/9630 yesterday. “Spot yuan eased further today to 6.3870 per […]

August 12, 2015 | By | Reply More
KL shares close lower on persistent selling

KL shares close lower on persistent selling

KUALA LUMPUR: Share prices on Bursa Malaysia closed lower across the board today on persistent selling in line with the easier regional markets, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 26.78 points, or 1.64 per cent, to close at 1,609.93. The benchmark index had opened 7.5 points lower at 1,629.21 […]

August 12, 2015 | By | Reply More
Malaysia ringgit falls below 4 per dollar to 17-year low

Malaysia ringgit falls below 4 per dollar to 17-year low

SINGAPORE/KUALA LUMPUR: Malaysia’s ringgit weakened past the psychologically important 4 per dollar level on Wednesday as regional currencies lost ground after China allowed the yuan to drop for the second straight day.The ringgit fell 1.1 percent to 4.0040 to the dollar as of 0335 GMT, its weakest since Sept. 1, 1998.Malaysia pegged the ringgit at […]

August 12, 2015 | By | Reply More
Living the legacy of J. C. Jacobsen

Living the legacy of J. C. Jacobsen

CARLSBERG Malaysia has been named the most outstanding Danish investment in Malaysia. It was also bestowed the prestigious Diploma of the Danish Export Association & His Royal Highness (HRH) Prince Henrik’s Medal of Honour. HONOURED AND RECOGNISEDAt an exclusive award ceremony held recently at Marini’s on 57, Crown Prince Frederik of Denmark presented the diploma […]

August 12, 2015 | By | Reply More
Ringgit breaches 3.99 in early trade

Ringgit breaches 3.99 in early trade

KUALA LUMPUR: The ringgit continued its slump in early trade today, breaching the 3.99 level per dollar for the first time since the Asian financial crisis 17 years ago. At 9.30am, the ringgit was quoted 0.8% lower at 3.9920/9970 against the greenback from 3.9600/9630 at 5pm yesterday. Dealers said foreign banks continued to offload the […]

August 12, 2015 | By | Reply More
Bursa M'sia opens lower

Bursa M'sia opens lower

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower today, tracking the performance of regional peers and Wall Street over China’s move to devaluate the yuan by two per cent, dealers said. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.88 points down at 1,624.83, after opening 7.5 points easier at 1,629.21. […]

August 12, 2015 | By | Reply More
Bursa publicly reprimands Benalec and three others

Bursa publicly reprimands Benalec and three others

PETALING JAYA: Bursa Malaysia Securities Bhd has publicly reprimanded Benalec Holdings Bhd and its three executive directors, including former managing director Datuk Leaw Seng Hai, in relation to a land disposal deal involving related party transactions. In a filing with the stock exchange, Benalec said former executive directors Datuk Leaw Ah Chye and Datuk Leaw […]

August 11, 2015 | By | Reply More
Bank Islam to focus on organic growth

Bank Islam to focus on organic growth

KUALA LUMPUR: Bank Islam Malaysia Bhd has ruled out merger and acquisitions in the near term, but admits that the matter will need to be revisited in the future, in order to stay ahead of the competition. “I don’t think it (merger & acquisition) will happen in one or two years. (But) Going forward, in […]

August 11, 2015 | By | Reply More
Hong Leong Bank plans RM3b rights issue

Hong Leong Bank plans RM3b rights issue

KUALA LUMPUR/SINGAPORE: Hong Leong Bank Bhd is planning to raise up to RM3 billion in rights issues this year to strengthen its capital, two sources with direct knowledge of the matter told Reuters. The bank, Malaysia’s fifth largest by assets, is the last of its peers to bolster its capital to meet more stringent central […]

August 11, 2015 | By | Reply More
Kronologi Asia to appoint four directors

Kronologi Asia to appoint four directors

PETALING JAYA: An EGM has been scheduled on August 26 for Kronologi Asia Bhd to appoint four new directors despite it being rejected by the board earlier this month. The EGM is to be convened by the requisitionist Piti Pramotedham, who is Kronologi founder, executive chairman and group CEO. Piti owns a 53.03% stake in […]

August 11, 2015 | By | Reply More