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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
At least 40 migrants 'suffocated' in hold of boat off Italy

At least 40 migrants 'suffocated' in hold of boat off Italy

ROME: More than 40 migrants have died in the Mediterranean Saturday, the Italian navy said, after apparently suffocating below deck on the boat taking them to Europe. “Operation underway… many migrants saved. At least 40 dead,” the navy said on Twitter, while the Corriere della Sera newspaper said those who died were found in the […]

August 15, 2015 | By | Reply More
Bursa likely to extend downward momentum next week

Bursa likely to extend downward momentum next week

KUALA LUMPUR: Bursa Malaysia is expected to extend its downward momentum next week, in line with regional peers on the back of multi-year low Asian currencies, China-Japan currency war and the impending US rate hike. Affin Hwang Investment Bank Vice-President and Head of Retail Research Datuk Dr Nazri Khan Adam Khan said that local stocks […]

August 15, 2015 | By | Reply More
Ringgit expected to trade cautiously next week

Ringgit expected to trade cautiously next week

KUALA LUMPUR: The ringgit is likely to experience cautious trading next week, amid the uncertain global sentiment, said a trader. “Emerging Asian currencies are expected to continue to be affected by external factors such as the performance of global crude oil and uncertainty on the policy direction in major economies particularly the United States on […]

August 15, 2015 | By | Reply More
Malaysian ringgit at 17-year low on oil, politics, yuan

Malaysian ringgit at 17-year low on oil, politics, yuan

KUALA LUMPUR: Malaysia’s ringgit currency suffered one of its worst one-day declines on Friday, falling to a fresh 17-year low in a protracted slide blamed on concerns over low oil prices and political uncertainty. The ringgit has declined more than 25% over the past year and it weakened another 1.74% to 4.0805 to the dollar […]

August 14, 2015 | By | Reply More