Friday, April 20th, 2018

 

No fun and games for new Mattel chief as shares sink

NEW YORK, April 20 ― Shares of US toymaker Mattel Inc sank 7 per cent today as the appointment of a fourth chief executive in three years left investors with little faith that the maker of Barbie and Hot Wheels was any nearer a recovery. Chief…


Sterling extends slide after Carney punctures BoE rate hike bets

LONDON, April 20 ― Sterling extended its drop to a two-week low against the dollar today after Bank of England Governor Mark Carney signalled that the central bank may not rush to raise interest rates in May because economic data was…


Wells Fargo agrees to pay US$1b to settle customer abuses

NEW YORK, April 20 ― Wells Fargo & Co has agreed to pay US$1 billion (RM3.89 billion) in penalties to federal regulators to settle a probe into abuses at its auto and mortgage businesses, the bank and regulators said today, confirming an earlier…


Fernandes: Robust economy spurred AirAsia to hit record numbers

KUALA LUMPUR, April 20 ― Malaysia’s robust economy has helped low-cost carrier AirAsia hit record numbers, its Group Chief Executive Officer, Tan Sri Tony Fernandes said. He said tourism would be the future growth driver for Malaysia….


GM Korea fails to reach wage deal, edging closer to bankruptcy filing

SEOUL, April 20 ― General Motors’ (GM) South Korean unit and its labor union failed to reach a wage deal by today, breaching a deadline set by the US automaker to seek bankruptcy protection for the loss-making unit. A source familiar with the…


Oil falls after Trump criticises Opec for artificially high prices

LONDON, April 20 ― Oil prices fell today after US President Donald Trump criticised Opec and said oil prices were artificially high, but they were still set for a weekly gain. Brent crude oil futures were at US$73.26 (RM285.30) per barrel at…


German police arrest Porsche manager over diesel scandal

BERLIN, April 20 ― German police have detained a Porsche manager in a probe into the diesel emissions cheating scandal that the luxury car brand’s parent company Volkswagen has struggled to shed. “Porsche chief Oliver Blume informed the…


US futures inch higher after strong GE, Honeywell results

NEW YORK, April 20 ― US stock index futures nudged higher today following strong earnings from industrial heavyweights General Electric and Honeywell. GE shares rose more than 5 per cent in premarket trading after its quarterly profit from…


Samsung Electronics to expand production in Vietnam

HANOI, April 20 ― Samsung Electronics Co is determined to further expand production in Vietnam, co-CEO Koh Dong-jin told Vietnamese Prime Minister Nguyen Xuan Phuc today. Samsung will recruit more Vietnamese employees and develop electronics…


OSK establishes MTN programme

PETALING JAYA: OSK Holdings Bhd has established a medium term note (MTN) programme, which together with the sukuk programme that was initially lodged on March 9, 2018, will have a combined limit of up to RM1.8 billion nominal value in aggregate.

In a filing with Bursa Malaysia, OSK said its wholly owned subsidiary OSK I CM Sdn Bhd has lodged the MTN programme and re-lodged the sukuk programme with the Securities Commission Malaysia.

The MTN programme is unrated and has a perpetual tenure. The MTNs to be issued under the MTN programme will have a tenure of more than one year.

The proceeds raised from the issuance of the MTNs will be used to fund the investment activities, capital expenditure, working capital requirements, general corporate purposes and refinancing of existing financings/borrowings of the OSK group, as well as to defray all fees and expenses related to the establishment of the MTN programme.

Maybank Investment Bank Bhd and RHB Investment Bank Bhd are the joint principal advisers, joint lead arrangers, joint lead managers and joint bookrunners for the programmes.

OSK’s share price fell 0.51% or half sen to close at 97 sen today, with a total of 385,700 shares changing hands.