KUALA LUMPUR, Aug 20 — Bank Negara Malaysia (BNM) and the People’s Bank of China recently entered into an agreement to renew the bilateral currency swap arrangement with a size of 180 billion yuan/RM110 billion for a further tenure of three…
KUALA LUMPUR: Malaysia will have a minimal impact on the US-China trade war since the country is a small open economy, says Bank Negara Malaysia (BNM). However, if the trade war continues to escalate, the whole global economy will be affected and there could be a reduction in global growth by 0.5 per cent by […]
KUALA LUMPUR: Malaysia’s economy is expected to remain on a steady growth path going forward with growth supported mainly by private sector activity, says Bank Negara Malaysia (BNM) Governor Datuk Nor Shamsiah Mohd Yunus. Positive labour market conditions and capacity expansion will continue to support robust private consumption and investment respectively, she said in a […]
KUALA LUMPUR, Aug 17 — Bursa Malaysia ended on a positive note today following continued buying momentum in selected heavyweights led by Public Bank, and lower liners, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM…
KUALA LUMPUR: Bursa Malaysia ended on a positive note today following continued buying momentum in selected heavyweights led by Public Bank, and lower liners, dealers said.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.20 points or 0.35% firmer at 1,783.47 from Thursday's close of 1,777.27.
The index opened 3.37 points higher at 1,780.64 and moved between 1,780.26 and 1,785.03 throughout the trading session.
On the broader market, gainers outpaced losers 466 to 403 with 451 counters unchanged, 561 untraded and 30 others suspended.
Volume eased to 2.0 billion units valued at RM2.03 billion from 2.10 billion units worth RM1.91 billion on Thursday.
M&A Securities Sdn Bhd Chief Dealing Officer R Sundararajah said market sentiment was boosted by news on the revival of trade talks between the US and China later this month and stronger corporate earnings by some companies in the US equity market.
“Closer to home, markets have yet to react on Bank Negara Malaysia's (BNM) announcement on the second-quarter gross domestic product (GDP) growth, which grew at 4.5% compared with 5.8% in the same period last year,” he told Bernama today.
Meanwhile, BNM had revised downwards the country's full-year GDP growth for 2018 to five per cent from the 5.5-6.0% projected earlier, due to prolonged disruptions in oil and gas production, and low production in the agriculture sector.
On the local bourse, heavyweights, Public Bank rose two sen to RM24.50 and CIMB added one sen to RM5.89.
Maybank was down one sen to RM9.78, Tenaga eased four sen to RM15.70 and Petronas Chemicals lost 10 sen to RM9.14.
Of the actives, QES perked two sen to 26.5 sen, Inari gave up 12 sen to RM2.28 while Euro bagged 2.5 sen to 23.5 sen.
Among top gainers, BAT increased 56 sen o RM35.90, IQ Group advanced 43 sen to RM1.88 and MPI was 34 sen higher at RM12.14.
The FBM Emas Index improved 40.84 points to 12,619.57, the FBMT100 Index climbed 41.38 points to 12,389.40 and the FBM 70 put on 44.98 points to 15,383.45.
The FBM Emas Shariah Index gained 46.19 points to 12,781.04 and the FBM Ace was 29.36 points higher at 5,552.40.
Sector-wise, the Finance Index shed 0.42 of-a-point to 17,388.79 but the Plantation Index was up 55.55 points to 7,627.19 and the Industrial Index rose 8.65 points to 3,232.90.
Main Market volume slipped to 1.25 billion shares worth RM1.84 billion, from 1.39 billion shares valued at RM1.72 billion on Thursday.
Warrants turnover declined to 329.55 million units valued at RM80.25 million, against 372.13 million units valued at RM105.98 million recorded yesterday.
Volume on the ACE Market increased to 412.33 million shares valued at RM106.64 million, versus Thursday's 339.35 million shares valued at RM80.82 million.
Consumer products accounted for 125.38 million shares traded on the Main Market, industrial products (271.68 million), construction (111.78 million), trade and services (412.80 million), technology (151.27 million), infrastructure (13.94 million), SPAC (3.07 million), finance (44.38 million), hotels (292,300), properties (98.76 million), plantations (21.04 million), mining (10,600), REITs (2.44 million), and closed/fund (5,000). — Bernama
KUALA LUMPUR, Aug 17 — Malaysia will have a minimal impact on the US-China trade war since the country is a small open economy, says Bank Negara Malaysia (BNM). However, if the trade war continues to escalate, the whole global economy will be…
KUALA LUMPUR, Aug 17 — The impact of the Sales and Services Tax (SST) on the country’s inflation would be much smaller compared to the Goods and Services Tax (GST), says Bank Negara Malaysia (BNM). Governor Datuk Nor Shamsiah Mohd Yunus said…
KUALA LUMPUR, Aug 17 — Exporters are allowed to automatically sweep export proceeds into their trade foreign currency accounts maintained with onshore banks to meet up to six months’ foreign currency obligations without the need to first convert…
KUALA LUMPUR: Bank Negara Malaysia (BNM) has revealed that the amount of fine imposed in 2016 by the central bank on 1Malaysia Development Bhd (1MDB) for non-disclosure of information to the central bank, amounted to RM15 million.
When asked if the amount of fine was ever revealed, newly minted governor Datuk Nor Shamsiah Mohd Yunus said at a press conference today that at that point of time BNM was prohibited from revealing the amount of the fine imposed.
In April 2016, the embattled organisation was fined by BNM for an undisclosed amount for its failure to fully comply with directions under the Financial Services Act.
Shamsiah added that there is now greater clarity in the investigation process of the 1MDB scandal and BNM has been assisting members of the task force and related agencies to carry out due diligence.
KUALA LUMPUR: Bank Negara Malaysia (BNM), which was previously prohibited from disclosing the amount of fine imposed by the central bank on 1Malaysia Development Bhd (1MDB) for non-disclosure of information, has revealed that the fine amounted to RM15 million.
When asked if the amount of fine was ever revealed, newly minted governor Datuk Nor Shamsiah Mohd Yunus (pix) said at a press conference last Friday that at that time BNM was prohibited from revealing the amount of compound imposed.
In April 28, 2016, the embattled state investment fund was fined by BNM for its failure to fully comply with directions under the Financial Services Act 2013.
Shamsiah said BNM, which is a part of the 1MDB investigation task force, has been assisting investigators and related agencies including by looking at money flow.
The taskf orce comprises Bukit Aman Special Branch director Datuk Abdul Hamid Bador, former attorney-general Tan Sri Abdul Gani Patail, and Malaysian Anti-Corruption Commission chief commissioner Datuk Seri Mohd Shukri Abdull and former chief of the anti-graft body, Tan Sri Abu Kassim Mohamed.
Shamsiah was also involved in investigations into 1MDB in her previous stint as deputy governor of BNM, before leaving the central bank in 2016. She returned to Bank Negara as governor in June this year.
On whether there is a need to relook the roles of banks, she said the central bank has stepped up supervision of banks that were seen as not being diligent in carrying out their responsibilities.
“A few banks are putting aside more than hundreds of millions of ringgit to enhance their systems, reskill their staff and trying to protect suspicious transactions. There is a lot of work done by the industry to improve their systems and we have also stepped up our supervision and taken enforcement actions where we think where the banks were not as diligent,” she said.
The Public Accounts Committee (PAC) and the auditor-general will relaunch an investigation into 1MDB following a motion passed by the Dewan Rakyat on Aug 16.
Newly appointed PAC chief Datuk Ronald Kiandee said the continuation of any future probe will be an extension of the previous investigation.
On another note, Shamsiah said, in a bid to strengthen the Anti-Money Laundering Act 2001, BNM is working towards accelerating the adoption of
e-payments which could reduce cash usage in the system and will have greater transparency and lower risk of leakages from illicit activities such as tax evasion and corruption in the economy.
Noting that mobile payment is still new in Malaysia, Shamsiah said it is also the way forward to accelerate Malaysia's migration to e-commerce as more players are coming on board.
The Interoperable Credit Transfer Framework, a shared payment infrastructure connecting banks and non-bank accounts, came into effect on July 1.