December, 2018

 

European shares in tentative New Year’s Eve rise after bruising 2018

LONDON, Dec 31 — European shares closed slightly higher today as soothing comments from Washington and Beijing about trade frictions between the world’s top two economies provided some comfort for investors as a bruising year in equity markets…


US dollar edges lower as risk appetite grows

NEW YORK, Dec 31 — The dollar edged lower in thin year-end trading today, as increased risk appetite weighed on demand for safe haven currencies, but the greenback remained on pace for its strongest annual performance in three years. The dollar…


€500 note gets last print run

PARIS, Dec 31 — The eurozone is moving to stop printing €500 (RM2,365) banknotes, the violet-coloured bills that authorities fear are favoured by criminals, with most of the 19 nations in the currency bloc to halt issuing them next month. …


Stocks pin hopes on US-China trade talks after brutal year

LONDON, Dec 31 — World share and commodity prices rose today as hints of progress on the Sino-US trade standoff provided a rare glimmer of optimism in what has been a punishing end of year for markets globally. Europe’s STOXX 600 followed…


Singapore’s economy grew 3.3pc in 2018, says PM Lee

SINGAPORE, Dec 31 — Singapore’s economy grew 3.3 per cent in 2018 but major global economic uncertainties lie ahead including trade tension between the United States and China and nervous financial markets, Prime Minister Lee Hsien Loong said…


Ringgit’s performance mixed in 2018 mainly due to external factors

KUALA LUMPUR, Dec 31 — The ringgit saw a mixed performance in 2018 despite entering the year on a bullish footing, as the local currency was dragged down by a sharp change of sentiment in the second quarter, heavily influenced by external drivers….


Pintaras Jaya secures RM103m piling jobs

PETALING JAYA: Pintaras Jaya Bhd’s (PJB) sub-subsidiary in Singapore, Pintary Foundations Pte Ltd, has secured three new piling contracts collectively worth about RM103 million.

Pintary Foundations is a wholly-owned subsidiary of Pintary International Pte Ltd, which in turn is PJB’s wholly-owned subsidiary in Singapore.

The projects will commence in the period between December 2018 and January 2019. The contract period ranges from three to eight months.

“These contracts are expected to contribute positively to PJB group’s earnings,“ PJB said.


Vizione awarded RM377.6m road job

PETALING JAYA: Vizione Holdings Bhd’s wholly-owned subsidiary Wira Syukur (M) Sdn Bhd (WSSB) has bagged a RM377.60 million contract from Permata Rebana Sdn Bhd (PRSB) for the supply of materials and labour and project management services relating to road works in the vicinity of Kota Kinabalu, Sabah.

The duration of the contract is 24 months subject to any extension of time granted under the construction contract to be entered into at a later stage. PRSB is principally engaged in construction activities.

“Vizione is delighted to participate in this roadworks related project which will further add to its track record. It further enlarges the group’s order book and is expected to provide a steady stream of revenue for the group over the next two financial years,“ it said.

Barring any unforeseen circumstances, this awarded project is expected to contribute positively to the earnings and earnings per share of the group for the next two financial years as the earnings and attributable profits would be realised in stages over the tenure of the contract.


A euro curse? European banking stocks’ lost decades

LONDON, Dec 31 — Paris, December 31, 1998: Fearing his country’s pay-as-you-go pension scheme is unsustainable, a 40-year old French engineer — let’s call him Jean Dupont — makes a New Year resolution. Hoping the introduction of the euro…


Voon replaces Azman as Ambank chairman

KUALA LUMPUR, Dec 31 — AMMB Holdings Bhd has appointed Voon Seng Chuan as AmBank (M) Bhd’s new chairman, replacing Tan Sri Azman Hashim, effective January 1, 2019. In a filing with Bursa Malaysia today, the group said Voon, 60, had been a member…