Wednesday, January 30th, 2019

 

Govt policies key to Bursa Malaysia’s performance this year

KUALA LUMPUR, Jan 30 — Bursa Malaysia Bhd is positive over outlook for the local equity market, provided, the government introduces initiatives or policies that can lift it. “We are hoping some of the government initiatives being looked into or…


Minister: Malaysia’s total trade to grow 5pc in 2019

KUALA LUMPUR, Jan 30 — Malaysia’s total trade is projected to grow moderately by 5 per cent in 2019 from 5.9 per cent in 2018 due to uncertainties in the global market. International Trade and Industry Minister Datuk Darell Leiking said global…


ARK Resources to jointly develop RM600m Penang project

PETALING JAYA: ARK Resources Holdings Bhd has proposed an 80:20 joint venture with the landowner Koperasi Kampung Melayu Balik Pulau Bhd (KKMBPB) to develop 89.9 acres of land in Penang into a multi-phased integrated development.

The estimated minimum gross development value (GDV) of the project is RM600 million, the construction firm told the stock exchange.

ARK Resources said its unit ARK Resources Bhd has entered into a joint venture development (JVD) agreement with KKMBPB for the proposed development.

Under the agreement, KKMBPB will provide the JVD land with vacant possession and free from encumbrances and ARK Resources will develop the land at its own sole costs and expenses.

ARK Resources said the financial commitment of the group in participation in the proposed JV will be funded through internally generated funds and/or bank borrowings.

The group said the proposed JV is expected to enhance its core business of property development and in line with its strategy to seek for more strategic land to expand its existing landbank.

It is also expected to generate future income stream to the group on a long-term basis.


Genting unit to raise US$775m via 20-year senior notes

KUALA LUMPUR, Jan 30 — Genting Bhd’s 57.89 per cent-owned indirect subsidiary, LLPL Capital Pte Ltd, has completed the book-building process and priced its offering of US$775 million (RM3.18 billion) 6.875 per cent guaranteed secured senior…


Bursa Malaysia ends lower on continued selling

KUALA LUMPUR, Jan 30 — Bursa Malaysia ended lower for the third straight day today on continued selling in most index-linked stocks on weak buying sentiment amid a mixed regional performance, dealers said. At 5 pm, the benchmark FTSE Bursa…


Busy days ahead for new FGV CEO, say analysts

KUALA LUMPUR, Jan 30 — Analysts reckoned that the newly appointed FGV Holdings Bhd’s chief executive officer Datuk Haris Fadzilah Hassan will be very busy as he indulges in the housekeeping effort of the plantation giant, in an effort to set its…


Malaysia’s total trade up 5.9pc to RM1.876t in 2018

KUALA LUMPUR, Jan 30 — Malaysia’s total trade in 2018 remained resilient, expanding 5.9 per cent to RM1.876 trillion from RM1.771 trillion in 2017, due to stronger-than-expected export growth during the year under review. International Trade and…


Siemens profit halves in late 2018 slowdown

BERLIN, Jan 30 — German industrial giant Siemens today reported slumping profits in its first quarter, although order books were well filled ahead of a planned merger of its rail division with France's Alstom. The group booked a net profit of…


Nasdaq bids US$770m for Oslo bourse

NEW YORK, Jan 30 — US exchange operator Nasdaq said today it was launching a friendly offer worth US$770 million (RM3.2 billion) for the Oslo bourse, topping a bid from rival Euronext. In a statement, Nasdaq said it had already received…


Pound up after Brexit drop, eyes on Fed and trade talks

HONG KONG, Jan 30 — London stocks rose and the pound rebounded slightly Wednesday after suffering heavy losses on worries about a possible no-deal Brexit, while Asian equities were mixed ahead of crunch trade talks between China and the United…