ubs

 
 

Indian banks may take more than US$3b hit from PNB fraud, says tax dept

NEW DELHI, Feb 18 — Indian banks could take a hit of more than US$3 billion (RM11.7 billion) from loans and corporate guarantees provided to diamond companies at the centre of a massive alleged fraud at the state-run Punjab National Bank, the…


After stunning growth streak, Amazon ambitions seem boundless

SAN FRANCISCO, Feb 18 ― Triumphant in online retail, cloud computing, organic groceries, and streaming television, Amazon founder and chief disruptor Jeff Bezos is turning his seemingly limitless ambition to health care. Amazon, launched as an…


China vows to protect interests as US eyes trade sanctions

CHINA, Feb 17 — China today warned it would take necessary measures to protect its interests if the US imposes tough trade sanctions against its steel and aluminium exports. The US Commerce Department today recommended imposing heavy tariffs…


Uber plans to sell SE Asia business to Grab

SAN FRANCISCO, Feb 17 — Uber Technologies is preparing to sell its Southeast Asia ride-hailing business to Singapore-based Grab in return for a substantial stake in the company, CNBC reported, citing two sources familiar with the matter. No…


Sterling headed for best week in five months as dollar tumbles

LONDON, Feb 16 — The pound is headed for its best weekly performance in five months against a dollar down across the board, although data today showing British retail sales barely budged in January took some of the shine off sterling. The…


Nikkei rises on relief over Kuroda’s BOJ reappointment; posts 1.6pc weekly gain

TOKYO, Feb 16 — Japanese stocks rose today, with investors relieved to see the government appoint Bank of Japan Governor Haruhiko Kuroda for another term and choose an advocate of bolder monetary easing as one of his deputies. The Nikkei ended…


Bursa M’sia closes half-day trading on higher note

KUALA LUMPUR: Bursa Malaysia closed higher in half-day trading on the eve of Chinese New Year festive, supported by continued buying interest in selected heavyweights and low-liners, dealers said.

At close, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished at 1,838.28, up 3.35 points or 0.18 per cent, versus Wednesday's close of 1,834.93.

After opening 5.80 points better at 1,840.73, the local barometer moved within a narrow range of 1,837.99 and 1,842.73 in the morning session.

Affin Hwang Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan Adam Khan said the volume transacted was healthy despite the half-day trading, following the better-than-expected Gross Domestic Product growth data announced by Bank Negara yesterday.

The Malaysian economy expanded by 5.9 per cent in 2017 versus 4.2 per cent in 2016.

He told Bernama that sentiment was supported by the stronger ringgit, which stood at 3.8, and the benchmark Brent crude oil futures which fetched US$62.33 a barrel.

Gainers outpaced losers 544 to 213 while 354 counters were unchanged, 781 untraded and 20 others were suspended.

Volume stood at 1.11 billion shares, worth RM1.07 billion, up from 1.93 billion shares, worth RM1.98 billion, recorded yesterday.

The FBM Emas Index improved 45.76 points to 13,117.49, FBMT 100 Index rose 39.50 points to 12,829.58 and the FBM 70 increased 104.07 points to 16,105.29.

The FBM Emas Shariah Index surged 60.39 points to 13,453.10 and the FBM Ace advanced 60.27 points to 6,242.42.

Sector-wise, the Finance Index was 13.62 points lower at 17,594.41, Industrial Index fell 4.72 points to 3,202.66 and the Plantation Index added 2.88 points to 7,996.97.

The Main Market volume fell to 601.53 million units, worth RM979.37 million, from Wednesday's 1.27 billion units valued at RM1.85 billion.

Volume on the ACE Market decreased to 221.85 million shares, valued at RM45.74 million, from 310.60 million shares valued at RM61.21 million yesterday.

Warrants volume decreased 286.69 million units, worth RM45.93 million, from Wednesday's 337.42 million units valued at RM64.98 million.

Consumer products accounted for 24.70 million shares traded on the Main Market, industrial products (183.22 million), construction (19.87 million), trade and services (276.85 million), technology (32.63 million), infrastructure (2.85 million), SPAC (30,400), finance (27.70 million), hotels (231,200), properties (19.76 million), plantations (10.89 million), mining (79,800), REITs (2.67 million) and closed/fund (2,000).

Bursa Malaysia and its subsidiaries will be closed tomorrow (Feb 16) and will resume trading on Monday (Feb 19).

The physical price of gold as at 5pm stood at RM163.92/g, up RM1.29 from RM162.63 at 5pm yesterday. — Bernama


Bursa closes half-day trading on higher note

KUALA LUMPUR, Feb 15 — Bursa Malaysia closed higher in half-day trading on the eve of Chinese New Year festive, supported by continued buying interest in selected heavyweights and low-liners, dealers said. At close, the FTSE Bursa Malaysia…


Minda Global’s listing on Feb 19

PETALING JAYA:The listing of Minda Global Bhd, through the takeover of Asiamet Education Group Bhd's slot on Bursa Malaysia’s Main Market, will happen next Monday.

The announcement comes after Asiamet told the stock exchange earlier in the day that the listing, which was scheduled for February 15, will be “deferred to a later date to be advised.”

In subsequent announcements Asiamet said the Bursa Malaysia Depository Sdn Bhd had confirmed that all the central depository system (CDS) accounts of entitled shareholders have been duly credited with the new Minda Global Shares on Feb 14 2018, marking the completion of the proposed share exchange of one MInda Global share for every existing Asiamet shares.

Minda Global received the approval of Bursa Malaysia Securities for its admission on to the bourse, on January 19.

The education group’s shares have been suspended from trading since February 5.


Kumpulan Perangsang Selangor’s share price up 2.31% on new biz

PETALING JAYA: Kumpulan Perangsang Selangor Bhd’s (KPS) share price gained 2.31% or 3 sen to RM1.33 after it announced that it is buying CPI (Penang) Sdn Bhd for RM250 million cash, in a bid to enter into the electronic manufacturing services (EMS) industry.

Some 141,500 shares were traded.

KPS has entered into a share sale agreement for the acquisition of 100% equity in CPI from HK Resources Sdn Bhd and TCS Resources Sdn Bhd.

Founded in 1990, CPI offers complete EMS solutions to its customers, from end-to-end plastic injection moulding services encompassing product design or conceptualisation, tool fabrication and production, to complete box-build services.

CPI currently operates from the Bayan Lepas Industrial Zone in Penang and has a clientele of more than 90 corporations worldwide.

It recorded a consistent revenue growth trend in financial years 2015 and 2016 with year-on-year growth of 16% and 17% respectively. Over 50% of the annual revenue is from exports while local sales are primarily to Malaysia-based subsidiaries of multinational groups