KUALA LUMPUR: A Member of Parliament from Johor is all excited about the possible entry of the Shinkansen, Japan’s world-famous bullet train system, in Malaysia amidst its ongoing strong bid to win the contract to build the Kuala Lumpur-Singapore High-Speed Rail (HSR) project. Anuar Manap, the MP for Sekijang, said the benefits of the HSR […]
KUALA LUMPUR, March 18 — Permodalan Nasional Bhd (PNB), established some 40 years ago, is today the country’s largest fund manager, managing funds worth RM279 billion, said its Group Chairman, Tan Sri Abdul Wahid Omar. He said 98 per cent of…
KUALA LUMPUR, March 18 — Bursting into the local start-up scene last year, CO3 Social Office Sdn Bhd is now collaborating with Medini Iskandar Malaysia (MIM) to develop what it ambitiously calls the “world’s most liveable work space.” The…
The sky’s the literal limit for Malaysia’s aerospace industry, being designated by the government as a strategic sector with high growth potential in the country’s industrialisation and technological development programmes. Globally, aircraft production is expected to reach 41,030 units and valued at US$6.1 trillion – excluding regional jets – over the next 20 years. Malaysia […]
KUALA LUMPUR: The weakening sentiment for the US dollar will likely help to boost the demand for the ringgit next week, to trade between 3.88-3.92 against the greenback, a dealer said.
He said mounting concerns over the political turmoil in the US, including President Donald Trump's decision to replace the National Security Advisor, H.R. McMaster and to fire the Secretary of State, Rex Tillerson, had negatively weighed on interest for the safe-haven currency.
“This will help boost sentiment for other currencies, especially the emerging market currencies.
“Nevertheless, fears of a potential trade war would likely reduce the appetite globally,” he told Bernama.
Earlier this week, Trump had announced that the country would impose tariff on up to US$60 billion (US$1 = RM3.92) of Chinese imports, specifically targeting the technology and telecommunications sectors.
The White House said the move was to pressure China into cutting its trade surplus with the US by US$100 billion.
On a Friday-to-Friday basis, the local note finished firmer against the greenback at 3.9070/9120 from 3.9100/9140 the previous week.
The ringgit had started the week higher, spurred by upbeat local economic reports and weaker performance of the greenback.
Worries over increased protectionism under the Trump administration had muted risk appetite globally, including for the ringgit, thus pushing the currency to retreat.
However, the local unit rebounded following the emergence of fresh political concerns at the White House.
Meanwhile, the ringgit was traded mostly lower against a basket of major currencies.
It fell against the Singapore dollar to 2.9761/9810 from 2.9653/9694 last Friday and declined against the yen to 3.6953/6010 from 3.6610/6662 last week.
The ringgit depreciated against the euro to 4.8138/8215 from 4.8093/8158 last Friday and weakened vis-a-vis the British pound to 5.4565/4643 from 5.3997/3060 previously. — Bernama
KUALA LUMPUR, March 16 — The ringgit rebounded to close higher against the US dollar today on fresh concerns over the political turmoil in the US, a dealer said. At 6pm, the local note was quoted at 3.9070/9120 against the US dollar compared…
KUALA LUMPUR, March 16 — Big Centure Sdn Bhd and Styleicon Prestige launched today a business and social networking app to expand networking and to get consumers to buy from brick-and-mortar businesses. The app Flipbizz allows business owners…
KUALA LUMPUR, March 16 — Bursa Malaysia closed marginally higher today on increased equities demand, after being in the red throughout the day, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 1.12 points higher at 1,846.39…
KUALA LUMPUR (March 16): Shares in MWE Holdings Bhd jumped as much as 29.2% — just shy of the 30% limit-up threshold — as news broke of the privatisation offer extended by tycoon Tan Sri Surin Upatkoon for the diversified entity at RM1.75 per share. At 3.18pm, the stock slipped to RM1.62 a share after hitting an intra-day high of RM1.68 — its highest since May last year. The current stock price is up 32 sen or 24.6% from yesterday’s close, which gives it a market capitalisation of RM299.31 million.Read More