Thursday, March 15th, 2018

 

SC : RM146.6b raised in Malaysian capital market in 2017

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KUALA LUMPUR (March 15): Fundraising total jumped nearly 49% in Malaysia’s capital market to RM146.6 billion in 2017, compared with RM98.5 billion in 2016 against a positive global backdrop. In its Annual Report 2017 released today, the Securities Commission Malaysia (SC) said primary market issuances amounted to RM132.11 billion, while the remaining RM14.5 billion was raised through the secondary market through rights issues and private placements. A total of RM124.9 billion was raised in the corporate bond and sukuk market, while RM7.2 billion was raised via new equity listings withRead More


Malaysia polls could be in late April or early May

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Malaysia could dissolve Parliament this month, cutting short its current sitting and paving the way for polls next month or in May, sources told The Straits Times. As government and opposition leaders criss-crossed the country this past month to prepare for the upcoming polls, Prime Minister Najib Razak is expected to table new electoral maps next week, which critics say favour his ruling coalition Barisan Nasional (BN). Approval of these new maps could be the last business for this Parliament, which had been scheduled to sit until April 5. TheRead More


Toys ‘R’ Us plans to close all U.S. stores; 33,000 jobs at risk: source

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(March 15): Bankrupt Toys ‘R’ Us Inc is preparing to sell or close all 885 stores in its U.S. chain, risking up to 33,000 jobs, after failing to reach a deal to restructure billions of dollars in debt, a person familiar with the matter said on Wednesday. With shoppers flocking to online platforms like Amazon.com Inc and children choosing electronic gadgets over toys, Toys ‘R’ Us has struggled to service debt from a $6.6 billion leveraged buyout by private equity firms KKR & Co LP and Bain Capital and real estate investor VornadoRead More


Ringgit eyes opposing cues from oil, trade war

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KUALA LUMPUR (March 15): Ringgit erases early gains as concern over increasing U.S. trade protectionism offsets the supportive effects from a rebound in energy prices. * USD/MYR is little changed at 3.9070 after dropping 0.1% to 3.9005 ** Support 3.8857, 3.8663, 3.8465; resistance 3.9313, 3.9326, 4.0055 ** Brent crude +0.1% * MYR has been affected by portfolio outflows although it has fared better than some regional peers such as INR, says ANZ senior currency strategist Irene Cheung ** Remains constructive on MYR given Malaysia’s improving current-account balance, robust commodity pricesRead More


KLCI dips 0.25% as regional markets get rattled by trade war fears

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KUALA LUMPUR (March 15): The FBM KLCI dipped 0.25% early today as resurgent  trade war fears rattled regional markets. At 9.05am, the FBM KLCI fell 4.59 points to 1,852.47. The losers included Nestle (M) Bhd, Ajinomoto (M) Bhd, Petronas Gas Bhd, Hengyuan Refining Company Bhd, Heineken Malaysia Bhd, Hartalega Holdings Bhd, Carlsberg Brewery Malaysia Bhd, JAKS Resources Bhd, Hong Leong Financial Group Bhd and Genting Bhd. Stock markets sagged broadly on Thursday while government bonds attracted safe-haven demand amid mounting investor concerns that growing trade tensions would hurt the globalRead More


Stocks sag, bonds supported as simmering trade woes curb risk appetite

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TOKYO (March 15): Stock markets sagged broadly on Thursday while government bonds attracted safe-haven demand amid mounting investor concerns that growing trade tensions would hurt the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.05 percent. The Asian markets took their cues from Wall Street shares, which fell for the third straight session overnight after U.S. President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war. Boeing Co, seen to be particularly vulnerable to retaliation from U.S. trade partners, fell 2.5Read More


Global airline industry sees robust 4Q17 earnings

KUALA LUMPUR: The global airline industry saw robust earnings before interest and tax (EBIT) profit margin of 8.6 per cent of revenues in the fourth quarter of 2017 (4Q 2017) — broadly unchanged compared with the same period in 2016. The International Air Transport Association (IATA) said the industry’s performance reaffirmed signs that industry profitability […]


Moody’s sees crude oil medium-term price at US$45 to US$65 per barrel

KUALA LUMPUR: Moody’s Investors Service (Moody’s) has raised its medium-term price band for crude oil to US$45 to US$65 per barrel (bbl), from US$40 to US$60 per bbl. In a statement yesterday, Moody’s said the continued Organisation of Petroleum Exporting Countries (OPEC)-led production restraints and strong global demand growth have contributed to declining global inventories, […]


Last chance to prevent EU discriminatory path

KUALA LUMPUR: Palm oil industrial players have their last chance to prevent the move to phase out palm oil-based biofuels by the European Union (EU) if it were to continue the discriminatory path, said the Malaysian Palm Oil Council (MPOC). Chief executive officer Dr Kalyana Sundram said as the three EU institutions had internally agreed […]


bZBee extends services to become fully-integrated marketing, communications outfit

KUALA LUMPUR: bzBee Consult Sdn Bhd (bzBee) has extended its services to  become a fully-integrated marketing and communications outfit to include events management, branding, online and social media services, creative work and advertising. In a statement here yesterday, bzBee said, it would also expand into other ventures with the establishment of Batique, Baybees and Todds, […]