Business

Malaysian Automotive Association lowers vehicle sales outlook

PETALING JAYA: The Malaysian Automotive Association (MAA) has revised its total industry volume for this year to 670,000 from 680,000 units earlier, owing to declining vehicle sales in the first half of this year.

Malaysian ringgit at 17-year low

S&P reaffirms Malaysia’s rating, Wahid says country better prepared to handle challenges, Technical analysts say ringgit will test the 4.00 mark against the US dollar

MAHB says only 2.3% of klia2 airport area affected by settlement

KUALA LUMPUR: Malaysia Airport Holdings Bhd (MAHB) says that the klia2 terminal, apron and taxiways are safe for operations and ruled out any suggestions that airlines can return to the low-cost carrier terminal (LCCT).

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AirAsia X sees shifting back to LCCT a good option for now

KUALA LUMPUR: AirAsia X Bhd contends that the ongoing resurfacing works at the KL International Airport 2 (KLIA2) is affecting its operations, according to AirAsia Bhd chief executive officer Aireen Omar. She said the continued works to address the soil depression of the tarmac could cause the airline to incur additional maintenance costs.

28 July 2015 | 12:00AM |

Airlines

Fairchild to sell Penang factory, 1,000 set to lose jobs

GEORGE TOWN: Fairchild Semiconductor International Inc, known as National Semiconductor when it first came to Malaysia in 1972, is selling its manufacturing facility in the Free Industrial Zone (FIZ), Bayan Lepas as part of its worldwide realignment exercise. About 1,000 people will lose their jobs.

27 July 2015 | 12:00AM |

Stocks

Keeping calm: Malaysia lets ringgit fall below 1998-2005 peg

KUALA LUMPUR: For the past three weeks, Malaysian authorities have allowed the ringgit to trade below levels that in 1998 prompted them to impose a dollar peg and capital controls. Economists expect more downside, with the Federal Reserve set to raise U.S. interest rates.

28 July 2015 | 7:17AM |

Economy

Rate hike: File picture shows a segment of PLUS’ North-South Expressway. Toll rates have not been increased for the past 10 years but highway operators have been compensated by the Government for their reduced income for keeping the rates unchanged.

Toll rate review next year, 5% seen

KUALA LUMPUR: Toll rates under the biggest highway operator in the country – PLUS Malaysia Bhd – will be up for review next year. However, instead of a 10% rate hike, the quantum that is being looked at is about 5%, said sources.

28 July 2015 | 12:00AM |

Stocks

Firm debut for Sunway Construction

KUALA LUMPUR: Sunway Construction Group Bhd made firm debut on the Main Market of Bursa Malaysia on Tuesday, opening at which was RM1.27 a premium of seven sen above its IPO price of RM1.20 amid a weak market.

28 July 2015 | 9:10AM |

Construction

Ringgit, rupiah at 17-year lows on Fed caution

SINGAPORE: Most emerging Asian currencies eased on Monday amid caution ahead of the U.S. Federal Reserve's policy meeting, while weak commodity prices sent the Malaysian ringgit and the Indonesian rupiah to 17-year lows.

27 July 2015 | 2:29PM |

Forex

Ringgit slumps to 17 year low versus US dollar

SINGAPORE: The ringgit hit a 17-year low on Monday as a global slump in commodity prices added to concerns over sluggish exports, while investors braced for a US Federal Reserve meeting that might take another step toward lifting interest rates.

27 July 2015 | 11:47AM |

Forex

Bank Negara to ease rules for Indonesian banks, says report

Malaysia's central bank will soon sign a bilateral agreement with Indonesia's financial services authority (OJK) on easier requirements for Indonesian banks to operate in Malaysia, the Kontan daily reported, quoting the chairman of OJK.

28 July 2015 | 10:25AM |

Banking

KLCI closes below 1,700 as MISC falls

KUALA LUMPUR: Malaysia’s blue chips index, the FBM KLCI closed below the critical 1,700 level on Tuesday on extended foreign selling while Sunway Construction ended its first trading day unchanged.

28 July 2015 | 6:12PM |

Markets

Mitsui partners Nusajaya Tech for Iskandar job

KUALA LUMPUR: Tokyo-based Mitsui and Co Ltd has entered into a joint venture (JV) agreement with Nusajaya Tech Park Sdn Bhd to undertake a 10.7ha development, comprising build-to-suit (BTS) properties for lease in Iskandar Malaysia.

28 July 2015 | 5:05PM |

Corporate News

Thai banks keen on Malaysian ringgit bond issues -

Thai banks and companies plan to issue ringgit-denominated bonds in Malaysia to diversify funding sources and lower funding costs after seeing strong interest in such a bond issue by Krung Thai Bank, the Nation reported, citing a top executive of CIMB Thai Bank.

28 July 2015 | 10:47AM |

Banking

Bank Negara to ease rules for Indonesian banks, says report

Malaysia's central bank will soon sign a bilateral agreement with Indonesia's financial services authority (OJK) on easier requirements for Indonesian banks to operate in Malaysia, the Kontan daily reported, quoting the chairman of OJK.

28 July 2015 | 10:25AM |

Banking

AmResearch keeps Buy call on Kossan

KUALA LUMPUR: AmResearch has reaffirmed its Buy call on Kossan Rubber with a fair value of RM8.40 a share to reflect a PE target of 27 times, which is on par with Hartalega Holdings’ PE given its comparable operational and financial performance.

28 July 2015 | 9:51AM |

Analyst Reports

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