Friday, April 12th, 2019


Bank Rakyat to pay 13pc dividend on April 15

CYBERJAYA, April 12 — The Bank Rakyat dividend for the financial year ended December 31 2018 is 13 per cent and will be paid out on April 15 (Monday), Entrepreneur Development Minister Datuk Seri Mohd Redzuan Mohd Yusof announced…

US oil giant Chevron says will acquire Anadarko for US$33b

NEW YORK, April 12 — US oil giant Chevron announced today it had agreed to acquire all outstanding shares of Anadarko in a stock and cash transaction valued at US$33 billion (RM136 billion), or US$65 per share. Based on Chevron’s Thursday…

Bursa Malaysia ends volatile week on firmer note

KUALA LUMPUR: Bursa Malaysia ended the week on a higher note after three consecutive days of losses, boosted by gains in heavyweights such as Tenaga, Axiata and Malaysia Airports.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.94 points to 1,630.17 from 1,624.23 at yesterday’s close.

The index opened 0.3 of-a-point higher at 1,624.53 and fluctuated between 1,623.44 and its intraday high of 1,631.09 throughout the day.

Market breadth was mixed with 399 gainers and 411 losers while 439 counters were unchanged, 630 untraded and 32 others suspended.

Volume was lower at 3.26 billion units worth RM2.08 billion from 3.58 billion units worth RM2.27 billion.

Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said the FBM KLCI managed to recover almost half of losses yesterday.

“The market is actually quite mixed, as we have more stocks down but active stocks are primarily related to two sectors – construction and oil and gas, which are mostly gainers.

“However, the construction index is down amid news the East Coast Rail Link (ECRL) will be resumed at RM44 billion,” he said.

In the meantime, regional Asian markets exhibited mixed tone after Chinese trade data showed imports fell more than expected, signalling ongoing fragility in the country, despite a rebound seen in exports data at a five-month high.

It was reported the Chinese’s dollar-denominated imports were down 7.6% in March from a year ago, while dollar-denominated exports rose 14.2%, with investors now seeking for fresh directions from new data, next week.

China is expected to released its gross domestic product numbers on April 17.

On the home front, heavyweights Tenaga rose 22 sen or 1.8% to RM12.28, after yesterday’s 4% fall.

Axiata added six sen to RM4.15, IHH Healthcare was five sen higher at RM5.60 and Malaysia Airports increased 21 sen to RM6.82.

Maybank inched up one sen to RM9.27 and Public Bank lost two sen to RM22.60.

Topping the active list, Sapura Energy rose one sen to 34.5 sen after bagging five new engineering, construction and drilling contracts worth RM1.3 billion.

Bina Puri gained three sen to 21.5 sen and Econpile Holdings was 3.5 sen higher at 61.5 sen, benefiting from the ECRL announcement.

Bumi Armada was flat at 20 sen.

The FBM Emas Index rose 28.06 points to 11,561.46, the FBMT 100 was 27.85 points higher at 11,385.97 but the FBM 70 shed 19.53 points to 14,478.49.

Meanwhile, the FBM Emas Shariah Index climbed 35.08 points to 11,762.39 and the FBM Ace Index rose 35.39 points to 4,749.40.

Sector-wise, the Financial Services Index added 7.8 points to 16,822.07, the Plantation Index put on 36.22 points to 7,269.34, while the Industrial Products and Services Index declined 0.99 of-a-point to 168.13.

Main Market volume decreased to 2.37 billion shares worth RM1.89 billion from 2.80 billion shares worth RM2.10 billion yesterday.

Warrants turnover declined to 401.6 million units valued at RM93.2 million from 469.5 million units valued at RM102.3 million previously.

Volume on the ACE Market swelled to 491.4 million shares worth RM89.7 million from 302.3 million shares worth RM70.1 million on Thursday.

Consumer products and services accounted for 324 million shares traded on the Main Market, industrial products and services (223.1 million), construction (541.3 million), technology (70.9 million), SPAC (nil), financial services (32 million), property (240.1 million), plantation (18.3 million), REITs (8.0 million), closed/fund (6,600), energy (757.3 million), healthcare (19.1 million), telecommunications and media (52.8 million), transportation and logistics (42.7 million), and utilities (40.6 million). — Bernama

Dataprep to collaborate with Indonesian firm in ICT areas

PETALING JAYA: Dataprep Holdings Bhd is collaborating with Indonesia’s PT Asia Pelangi Remiten (PT Asia) in the area of information and communication technologies (ICT).

In a filing with Bursa Malaysia, Dataprep said it has entered into a memorandum of collaboration with PT Asia, under which the two parties will work as a strategic partner and cooperate as well as coordinate efforts in ICT areas.

The two parties aim to provide specialised technology-oriented solutions such as software development expertise and sourcing of hardware, and develop integrated payment systems solutions including integration, networks and hardware requirements.

Dataprep and PT Asia are also looking to provide consultancy, technical support and managed ICT services to support operations such as data hosting, digital content and platform.

The two parties will explore new potential business and markets related to ICT in Indonesia as well as other areas of cooperation to be mutually agreed upon.

The memorandum of collaboration is effective for five years from April 12, 2019.

Oil scores best run in three years as dollar, stocks tread water

LONDON, April 12 — Signs of a stabilisation in China's giant economy and a soggy dollar helped oil markets cement their best run for more than three years today, though stocks weren't buoyed much after spending most of the week treading water….

China March new loans rebound sharply, more policy easing expected

BEIJING, April 12 — China’s new bank loans rebounded in March, rising far more than expected, as policymakers pushed lenders to support struggling smaller companies and shore up the slowing economy. Analysts say China needs to turn around weak…

China’s imports plummet in March

BEIJING, April 12 — China’s imports plummeted in March while exports rose sharply, official data showed today, adding to worries about slowing growth in the world’s number two economy amid a US trade war. Total imports sank 7.6 per cent…

Toyota sees new business opportunity in leveraging hybrid tech

TOYOTA CITY, April 12 — The head of Toyota Motor Corp’s electric vehicle (EV) business told Reuters the automaker has received enquiries from more than 50 companies since announcing last week that it would offer free access to patents for EV…

Asian markets mixed after fluctuating through week

HONG KONG, April 12 — Asian markets were mixed today as a volatile week drew to a close with investors preparing for the start of the corporate earnings season. With few fresh developments on the China-US trade talks, the rally that characterised…

China March exports rebound to five-month high but imports fall more than expected

BEIJING, April 12 — China's exports rebounded in March but imports shrank for a fourth straight month and at a sharper pace, painting a mixed picture of the economy as trade talks with the United States reach their endgame. Investors are hoping…