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Ringgit higher against  US dollar at opening

Ringgit higher against US dollar at opening

KUALA LUMPUR: The US dollar weakness lifted the ringgit higher against the greenback at opening today but trading sentiment remained cautious amid the lingering trade war concerns, a dealer said. At 9 am, the ringgit was quoted at 3.8620/8655 compared with Monday’s 3.8690/8730. Oanda Head of Trading Asia-Pacific Stephen Innes said the ringgit is struggling […]

April 10, 2018 | By | Reply More
Bursa Malaysia mixed in early trade

Bursa Malaysia mixed in early trade

KUALA LUMPUR: Bursa Malaysia reversed its gains momentum to open mixed this morning on weak sentiment following the retreat on Wall Street’s overnight performance. At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.11 points easier at 1,847.6 from Monday’s 1,837.01, after opening 2.18 points weaker at 1,847.53. However, on the broader […]

April 10, 2018 | By | Reply More
Measures in manifestos will give near-term boost to consumption: Moody's

Measures in manifestos will give near-term boost to consumption: Moody's

PETALING JAYA: Barisan Nasional (BN) and Pakatan Harapan’s manifestos for the 14th general election (GE14) are unlikely to have material impact on Malaysia’s economy although they are expected to boost the country’s consumption over the near term. In a statement today, Moody’s Investors Service assistant vice-president and analyst Anushka Shah said this is due to […]

April 9, 2018 | By | Reply More
Splash sues Syabas, claims RM4.22b in outstanding receivables

Splash sues Syabas, claims RM4.22b in outstanding receivables

PETALING JAYA: Gamuda Bhd’s indirect 40% associate company Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) is suing Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) for RM4.22 billion in outstanding receivables owing to Splash, excluding interest and costs, ahead of the outcome in the Selangor water restructuring saga. “Splash will commence legal proceedings against Syabas […]

April 9, 2018 | By | Reply More
Bursa ends broadly higher on ease in US-China trade war tensions

Bursa ends broadly higher on ease in US-China trade war tensions

KUALA LUMPUR: Bursa Malaysia closed broadly higher today in line with the gains on regional peers as risk appetite improved on the back of the ease in US-China trade war tension. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 12.7 points up at 1,849.71 from Friday’s 1,837.71, backed by persistent buying interests […]

April 9, 2018 | By | Reply More
Ringgit ends easier against US dollar

Ringgit ends easier against US dollar

KUALA LUMPUR: The ringgit closed easier against the US dollar today on firmer buying interest in the greenback, dealers said. At 6pm, the local unit was quoted at 3.8690/8730 against the US dollar from Friday’s close of 3.8680/8720. A dealer said the US dollar continued to strengthen on the back of rising stock markets which […]

April 9, 2018 | By | Reply More
It's time to switch focus to big-cap stocks

It's time to switch focus to big-cap stocks

PETALING JAYA: Kenanga Research believes it is time to switch focus to big-cap stocks as the current sentiment is not in favour of mid- and small-cap stocks. This is in view of the weak yet volatile second quarter as the general election looms, with lacklustre trading volume and market interest ahead of the Muslim fasting […]

April 9, 2018 | By | Reply More
SERC raises 2018 GDP growth forecast to 5.5%

SERC raises 2018 GDP growth forecast to 5.5%

KUALA LUMPUR: The Socio-Economic Research Centre (SERC) has revised its 2018 gross domestic product (GDP) growth forecast to 5.5% from 5.1% previously, on firmer domestic demand. “Firstly, why I revised from 5.1% to 5.5%, is mainly to reflect a firmer domestic demand. On the consumption side, I also factored in the budget measures that are […]

April 9, 2018 | By | Reply More
Kumpulan Perangsang Selangor to produce carton boxes with Chinese firm

Kumpulan Perangsang Selangor to produce carton boxes with Chinese firm

PETALING JAYA: Kumpulan Perangsang Selangor Bhd’s (KPS) 99% subsidiary Century Bond Bhd (CBB) has entered a joint venture (JV) with China’s Honda Printing Holdings Ltd to produce offset carton boxes for the manufacturing sector at an investment cost of RM2.87 million. CBB’s wholly owned subsidiary Pro Pulp Packages Sdn Bhd and Honda Printing will each […]

April 9, 2018 | By | Reply More
‘Outperform’ call on MMC maintained

‘Outperform’ call on MMC maintained

PETALING JAYA: Kenanga Research is keeping its “outperform” call on MMC Corp Bhd with an unchanged target price of RM2.50, although the group’s planned acquisition of Sabah Ports from Suria Capital Holdings has been aborted recently. In a note today, the research house said it also kept its financial year 2018-2019 (FY18-19) earnings forecasts and […]

April 9, 2018 | By | Reply More