Malaysian stock market skids in tandem with regional bourses
PETALING JAYA: Malaysian stocks fell for the second day this week as the trade spat between the US and China intensified, pushing the FBM KLCI down by 28.07 points or 1.61% to close at an intraday low of 1,715.36 points today. Losers outnumbered gainers 673 to 226, with 2.31 billion shares changing hands valued at […]
Trump ratchets up trade spat with China
WASHINGTON/BEIJING: US President Donald Trump threatened to impose a 10% tariff on US$200 billion (RM800 billion) of Chinese goods, prompting a swift warning from Beijing of retaliation, as the trade conflict between the world’s two biggest economies quickly escalated. Trump’s latest move, as Washington fights trade battles on several fronts, was unexpectedly swift and sharp. […]
Iskandar Waterfront City settles RM32.23m tax bill
PETALING JAYA: Iskandar Waterfront City Bhd (IWCity) has fully settled the RM32.23 million tax bill imposed by the Inland Revenue Board (IRB). IWCity told Bursa Malaysia that its wholly owned subsidiary Tebrau Bay Constructions Sdn Bhd (TBCSB), following the full settlement of the taxes claimed, today received the sealed court order dated May 20, 2018 […]
PRG Holdings in talks to extend deadline for purchase of Roopi Medical Centre
PETALING JAYA: PRG Holdings Bhd is in talks for an extension of time for the proposed acquisition of Roopi Medical Centre Sdn Bhd and its properties, after conditions under the agreements were not fulfilled within the stipulated time frame. PRG’s subsidiary PRG Healthcare Sdn Bhd (PHSB) entered into a share sale agreement (SSA) for the […]
Jiankun confident of turnaround this year
KUALA LUMPUR: Jiankun International Bhd is confident of returning to the black in this financial year ending Dec 31, 2018 (FY18) after missing its target last year, as most of its expenses will be significantly reduced this year, and revenue supplemented by by its two property projects. The projects are Bayu Heights 2 at Seri […]
Lay Hong allocates RM39 million as capex to boost broiler production
KUALA LUMPUR: Lay Hong Bhd has allocated RM39 million as capital expenditure (capex) for the financial year ending March 31, 2019 (FY19) and is to be utilised to increase broiler production. Group executive director Yap Chor How said the integrated livestock farming company planned to increase broiler production capacity to two million birds monthly from […]
Tokio Marine to buy two Southeast Asian insurers
TOKYO: Tokio Marine Holdings said today it has agreed to acquire two insurance companies in Southeast Asia from Insurance Australia Group for ¥42.8 billion (RM1.5 billion) to bolster its operations in a fast-growing market. The Japanese insurance company will take a 98.6% stake in Safety Insurance Public in Thailand and an 80% stake in PT […]
RAM projects higher inflation in May
PETALING JAYA: RAM Ratings expects Malaysia’s headline inflation rate for May to increase to 1.9% from 1.4% in April, mainly due to faster growth in retail fuel prices. The Department of Statistics is scheduled to release the inflation figures tomorrow. The rating agency said in a statement today, the increase in retail fuel inflation of […]
GHL Systems: RM40m from private placement to finance purchase of Paysys
PETALING JAYA: GHL Systems Bhd will be deploying RM40 million out of the RM84.5 million raised from a private placement exercise, to fund the proposed acquisition of Paysys (M) Sdn Bhd to expedite the process. The group had previously stated in a circular to its shareholders dated May 16, 2018 that the acquisition will be […]
Ringgit breaches the 4.0 level against US dollar
KUALA LUMPUR: The ringgit closed lower today at 4.0020/0050 against the US dollar, the first time it breached the 4.0 level in more than five months. Dealers said this was in tandem with other emerging Asian currencies, as sentiment was dampened by the weakness of equity markets. The last time the local currency closed at […]
