Saturday, September 28th, 2019


Most Thomas Cook holidaymakers back in UK

LONDON, Sept 28 — More than half of of the 150,000 holidaymakers left stranded abroad after the collapse of travel firm Thomas Cook have been repatriated to Britain, the Civil Aviation Authority regulator said today. The CAA said 76,000 people had…

Malaysia’s timber products export hits RM12.5b, says Malaysian Timber Industry Board D-G

KOTA BARU, Sept 28 — Malaysia has exported about RM12.5 billion worth of timber products between January and July this year, said Malaysian Timber Industry Board (MTIB) director-general, Mohd Kheiruddin Mohd Rani. Among the high value-added…

Foodpanda announces new payment scheme for riders from Sept 30

KUALA LUMPUR, Sept 28 — Online food delivery company, Foodpanda, has put in place a new payment scheme for all riders outside the Klang Valley, effective September 30, 2019.  Foodpanda Malaysia managing director Sayantan…

Petronas calls for progressive partnerships to foster sustainable LNG market

KUALA LUMPUR, Sept 28 — Petronas is calling for progressive partnerships by industry players in aligning to advocate Liquefied natural gas (LNG) as the preferred clean source of energy in the long-term. President and Group Chief Executive Officer,…

Battle to woo trade war’s corporate refugees intensifies in Malaysia, other Asian countries

CHONBURI (Thailand), Sept 28 — When trade war tariffs jolted Chinese tyre-maker Prinx Chengshan into speeding up foreign investment plans, the company wound up in Thailand, thanks to that country’s relentless courtship. With an initial…

Report: Singapore travel retailer DFS Group lays off about 60 staff

SINGAPORE, Sept 28 — Travel retailer DFS Group has reportedly laid off about 60 staff, most of them at its T Galleria by DFS outlet in Scotts Road, although the company’s only official comment is that it has decided to “rebalance its…

Ringgit to trade steadily against the us dollar between 4.18-4.20 next week

KUALA LUMPUR: The ringgit is expected to trade steadily against the US dollar within the 4.18 – 4.20 range next week, following news that the Malaysian government bonds are staying on index provider FTSE Russell’s watchlist.

On Friday, FTSE Russell announced that Malaysia remains on its benchmark World Government Bond Index (WGBI), along with China.

Axi Trader Asia-Pacific market strategist Stephen Innes said as the ringgit was traded sideways last week tracking the Chinese yuan’s performance, the news would be supportive to the local note’s performance in the coming week.

“The (ringgit) outlook looks relative stable next week with China heading for a long National Day holiday (Oct 1-7),“ he said.

Meanwhile, in an email to Bernama, FXTM market analyst Han Tan said Malaysia’s economic resilience – as evidenced by the 4.7% year-on-year growth in gross domestic product in the first half of 2019 – had weathered the current external headwinds.

“For the week ahead, a break above 4.20 for US dollar- ringgit should be met, with stiffer resistance at 4.23, while the 4.16 range continues to act as the near-term support level,“ he said.

For the week just ended, the local note was mostly lower throughout the week, mainly influenced by the uncertainties in the United States-China trade talks, weakening crude oil prices as well as FTSE Russell’s decision to review the Malaysian government bonds’ participation in the WGBI.

The ringgit ended the week lower at 4.1860/1900 against the greenback from 4.1680/1720 on Friday last week.

The local currency, however, traded mostly higher against most other major currencies, except the yen.

It strengthened against the Singapore dollar to 3.0292/0325 from 3.0297/0337, increased versus the euro to 4.5732/5793 from 4.6040/6.101 and surged against the pound to 5.1433/1499 from 5.2196/2254.

Vis-a-vis the yen, the local unit fell to 3.8774/8818 from 3.8589/8637 previously. – Bernama

Ringgit to trade steadily against US dollar between 4.18-4.20 next week

KUALA LUMPUR, Sept 28 — The ringgit is expected to trade steadily against the US dollar within the 4.18 — 4.20 range next week, following news that the Malaysian government bonds are staying on index provider FTSE Russell’s watchlist. On…

KLCI expected to trade sideways next week

KUALA LUMPUR, Sept 28 — Bursa Malaysia is expected to trade sideways next week as it awaits stronger local catalysts for the push into positive territory, with the benchmark FTSE Bursa Malaysia (FBM KLCI) expected to trade between 1,580 to 1,595….

Oil, shares fall on potential limit on China investments

NEW YORK, Sept 28 — Oil prices and a gauge of global equity markets fell yesterday on media reports that the administration of President Donald Trump may limit US portfolio investments into China, a move that would mark an escalation of US-Sino…