HONG KONG, Nov 21 — Tokyo’s Nikkei led a rally across Asian markets today, boosted by a weaker yen while traders took heart from a healthy run on Wall Street, though German uncertainty kept pressure on the euro. While concerns about the…
Asian markets rally after Wall St lead, euro struggles
Petronas Dagangan upbeat on liquefied petroleum gas market
KUALA LUMPUR: Petronas Dagangan Bhd, which currently holds about 50% share of the domestic liquefied petroleum gas (LPG) market, remains positive on the LPG industry in the country.
“We have positive outlook on the industry as it is still growing in Malaysia. We plan to grow naturally with the market, depending on the market growth,” its head of LPG business division Ramzulhakim Ramli told reporters at a media briefing here today.
“The market growth last year was about 1.5%,” he added.
The principal domestic marketing arm of Petroliam Nasional Bhd (Petronas) had previously announced its plans to exit the LPG business in the Philippines, with the disposal of its entire stake in Petronas Energy Philippines Inc and 40% stake in Duta Inc for RM532.5 million.
Following that, the group had also sold its LPG bottling and distribution operations in Vietnam, citing the divestment was in line with its portfolio rationalisation.
Malaysian ringgit up 0.1pc, highest for more than a year
KUALA LUMPUR, Nov 20 — Most Asian currencies were muted this morning in the face of political uncertainty in Germany and lingering doubts about the prospects for US tax reform, dimming sentiment. The dollar index, which measures the greenback…