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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
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
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
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
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
No conclusion in sight for TPP talks: Mustapa

No conclusion in sight for TPP talks: Mustapa

KUALA LUMPUR: Minister of International Trade & Industry Datuk Seri Mustapa Mohamed has hinted that Malaysia will take a longer time to make a decision on whether to join the Trans-Pacific Partnership (TPP) following a failure to make strides at the TPP ministerial meeting in Hawaii in July. “There was an expectation that the negotiation […]

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
A duty-free approach

A duty-free approach

THERE is a good reason why airport shopping seems overpriced. Air-side concessions can claim the undivided attention of millions of people who have little to do but shop while waiting for flights. There are a few savings to be made in the duty-free shops on cigarettes, spirits or cosmetics, but even these can be false […]

August 13, 2015 | By | Reply More
Third time lucky?

Third time lucky?

JUST one month ago Greece was on the verge of leaving the euro. Germany had raised the prospect of a “time out” lasting at least five years, following a breakdown in trust between euro-zone countries and the Greek government. Even when an acrimonious weekend summit in Brussels ended on July 13th with a tentative plan […]

August 13, 2015 | By | Reply More
Asset-rich, cash-poor

Asset-rich, cash-poor

IT WAS not a hard sell. On August 10th Saudi Arabia issued bonds worth 20 billion riyals ($5.3 billion). Local banks, the only institutions allowed to take part in the sale, have lots of spare cash. The price was appealing, too: the ten-year bonds (there were also five- and seven-year issues) will yield almost half […]

August 13, 2015 | By | Reply More