Ringgit returns to 2016 levels as revival against US dollar continues
KUALA LUMPUR, Jan 19 — The Malaysian currency rose by half a per cent versus the US dollar in trading today, reaching a level not seen in nearly two years. In further signs of the ringgit’s recovery, the local note briefly touched 3.935 to the…
Asian currencies firm as US dollar wallows near three-year low
SINGAPORE, Jan 19 — Asian currencies strengthened today as the US dollar languished on fears over a US government shutdown and as China’s strong economic growth figures boosted sentiment in the region. The US dollar index was down 0.165 at…
Tide of money drowns out HK property warning by central banker
HONG KONG, Jan 19 — Why are official warnings of the threat that rising interest rates pose to Hong Kong’s red-hot housing market falling on deaf ears? The Hong Kong Monetary Authority and the International Monetary Fund have both…
Most South-east Asia stocks firm, Indonesia slips after hitting record
SINGAPORE, Jan 19 — Most South-east Asian stock markets firmed today and were on track to end the week higher as broader Asian shares climbed to an all-time top on data that showed China’s growth accelerated in 2017 for the first time in seven…
CIMB banks on fintech speed to be a game changer
KUALA LUMPUR, Jan 19 — CIMB Group’s head of consumer banking Samir Gupta said the bank is aiming to use its financial technology (fintech) strategy to reinforce its position as a leading player in the consumer banking sector. The bank became…
Perodua aims for 2% growth in car sales this year
PETALING JAYA: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is targeting for the sale of 209,000 vehicles this year, which is a 2% jump from the 204,900 units sold in 2017.
Speaking to reporters at the 2017 full year review briefing, Perodua's president and CEO Datuk Dr Aminar Rashid Salleh said, this year the car maker is focusing on maximising the sales potential of all its models to meet its target.
Production of vehicles is also expected to be ramped up to 215,334 units compared to the 200,146 vehicles produced last year.
Aminar said that due to unfavourable foreign exchange conditions the company may focus more on the exports of parts and accessories instead of complete built-ups.
Perodua currently exports to countries such as Indonesia, Mauritius, Sri Lanka and Fiji.
HSS rises 4.40% after being invited to submit proposal for bridge project
PETALING JAYA: HSS Engineers Bhd's rose seven sen or 4.40% this morning, after its associate company HSS Integrated Sdn Bhd (HSSI) received invitation to submit a proposal to provide consultancy services for the execution of the Labuan-Menumbok Bridge Link.
At 10.59am, the stock stood at RM1.66 with 394,400 shares changing hands. The group has a market capitalisation of RM532.9 million.
Yesterday, the group said HSSI received the letter of invitation from the Federal Territories Ministry for the execution of the bridge project feasibility study, which has a ceiling contract value of RM14.31 million.
The contract is expected to contribute positively to the revenue and earnings of the group for the financial years ending Dec 31, 2018 and Dec 31, 2019.
RAM Ratings reaffirms Malaysia’s global, Asean and domestic ratings
KUALA LUMPUR, Jan 19 — RAM Ratings has reaffirmed Malaysia’s respective global, Asean and domestic-scale sovereign ratings of gA2/stable/gP1, seaAAA/stable/seaP1 and AAA/stable/P1. The ratings reflect the country’s resilient economic…
India’s NSE said to seek Singapore delay on stock futures
MUMBAI, Jan 19 — The National Stock Exchange of India Ltd., operator of the country’s biggest bourse, is asking Singapore Exchange Ltd. to delay the planned introduction of single-stock futures that would track some of the subcontinent’s…