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Top 10 Malaysia Finance & Bursa News (from 6-12 Aug 2017)

Global equities Top 10 Finance and Bursa news

Sabah & Sarawak SEDC signs MOU with UDA Holdings The Sarawak Economic Development Corporation (SEDC) has entered into a Memorandum of Understanding (MOU) with a federal government linked property developer – UDA Holdings Bhd (UDA). This MOU will allow the SEDC and UDA to collaborate in identifying and developing potential land and properties of the […]

Toyota, Mazda to spend US$1.6b on joint US auto plant

TOKYO, Aug 5 — Toyota Motor Corp and Mazda Motor Corp agreed to buy stakes in each other and jointly build a US$1.6 billion (RM6.84 billion) US factory, the auto industry’s first new assembly plant to be announced under President Donald Trump….

Homegrown startup makes it BIG

KUALA LUMPUR (Aug 5): The Edge weekly in its latest edition said that Air Asia and Grab are arguably Malaysia’s best known mass consumer brands…

Dollar bears are undaunted after getting burned by rally on jobs

NEW YORK, Aug 5 — Dollar bears, singed by the currency’s biggest rally since January, say they’re still holding their ground. Bloomberg’s dollar index surged as much as 0.8 per cent yesterday on a government report showing that the US …

Bursa Stocks in Focus Next Week (7/8/2017)

KUALA LUMPUR (Aug 4): Based on corporate announcements and news flow today, stocks in focus on Monday (Aug 7) may include Malakoff Corp Bhd, Matrix…

Ringgit likely to see range-bound trading next week

KUALA LUMPUR: The ringgit is expected to see range-bound trading against the US dollar next week as the local unit stabilised against the greenback, a dealer said.

Inter-Pacific Securities Head of Research, Pong Teng Siew, said the ringgit was expected to trade around 4.28 against the US dollar as the measures taken by the Bank Negara Malaysia to stabilise it against the greenback continued to reduce the volatility between the two currencies.

However, he said, while the measures were able to protect the ringgit against the US dollar, it did not protect the ringgit against the other currencies as the local unit was locked with the US dollar trend against the other currencies.

“If the US dollar weakened against the other currencies, the ringgit also weakened against other currencies,” he told Bernama.

On a Friday-to-Friday basis, the ringgit was traded lower at 4.2770/2800 against the US dollar from 4.2760/2790 in the previous week.

The local note was also traded lower against other major currencies.

It declined versus the Singapore dollar to 3.1534/1570 from 3.1471/1514 previously and weakened against the Yen to 3.8857/8895 from 3.8377/8418 last Friday.

The local note fell against the British pound to 5.6264/6312 from 5.6187/6239 the previous week and depreciated against the Euro to 5.0811/0864 from 5.0106/0154. — Bernama

M’sia trade surplus widens to RM9.88 bln, exports up 10 pct

KUALA LUMPUR: Malaysia’s export growth continued to outpace import, with June 2017 trade surplus at RM9.88 billion, marking the 236th consecutive month of trade surplus since November 1997 and the highest surplus since April 2016. In a statement yesterday, the Ministry of International Trade and Industry (MITI) said exports in June 2017 showed a stronger […]

Malakoff to benefit from dispute settlement at Tanjung Bin Power plant

KUALA LUMPUR: Malakoff Corporation Bhd’s 90 per cent-owned subsidiary, Tanjung Bin Power Sdn Bhd, has signed an agreement with parties involved in a litigation and arbitration procedure related to the power station consisting of three 700MW coal-fired units owned and operated by it. The parties are IHI Corporation Japan, ISHI Power Sdn Bhd and IHI […]

Sunway’s move turning property into REIT a positive development

KUCHING: Analysts are positive on Sunway Bhd’s (Sunway) surprise move to dispose its Sunway Clio Property (Sunway Clio) to Sunway Real Estate Investment Trust (SunREIT). Analysts also believe the disposal would have positive implications on SunREIT as the property has been reporting positive occupancy rate since its opening early last year. According to a filing […]

Bursa Companies Quarterly Results Announcement in August 2017

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