Business

Ringgit risk reverses, volatility reduced

KUALA LUMPUR: The difference in the trade between the offshore and onshore ringgit market narrowed yesterday, indicating that the volatility in the domestic currency has reduced for now.

Report time: Razali (middle) shaking hands with a Felda settlers’ representative after presenting the report. Looking on are Emir (left) and Felda management staff members.

Felda Global stake buy on track, no fallout in Eagle High deal

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) has quashed speculation of a fallout in its acquisition of a 37% stake in PT Eagle High Plantations Tbk. Group president and chief executive officer Datuk Mohd Emir Mavani Abdullah maintained that the due diligence exercise on the Indonesian planter was on track and would likely be concluded by the end of this month.

The speakers: (from left) Wong, Goh, Foo and Koong at the forum.
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China is the way to go, market offers tremendous opportunities

KUALA LUMPUR: By virtue of its size, China is a market that small and medium enterprises (SMEs) must strive to tap into in order to achieve greater growth for their businesses, said Malaysian billionaire Goh Peng Ooi.

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Pressure on ringgit remains unabated

PETALING JAYA: At RM3.85 to the US dollar, the selling pressure on the ringgit remains unabated on the back of two probable developments – first, the widely speculated put option that traders had gone into a few months ago offering RM4 for every US dollar.

4 August 2015 | 12:00AM |

Economy

Gold rush: A 1kg gold bar on display at the Korea Gold Exchange in Seoul. South Koreans are estimated to hold 800 tonnes in households and private vaults. – Reuters

S. Koreans set to buy record amount of gold

SEOUL: South Koreans are on course to buy a record amount of gold in 2015, worried that a meltdown in China's stock markets will destabilise South Korean equities and keen to replenish a traditional store of value in an era of low interest rates.

5 August 2015 | 12:00AM |

Commodities

KLCI gives up all of Monday gains

KUALA LUMPUR: Blue chips closed sharply lower on Tuesday on profit taking of key stocks including Maxis, Axiata and Tenaga Nasional as the last-minute surge the previous day proved to be unsustainable.

4 August 2015 | 5:36PM |

Markets

Crude oil price in danger of another breakdown

KUALA LUMPUR: West Texas Intermediate traded on the New York Mercantile Exchange, also known as light sweet crude had a nice rebound recently, up from a six-year low of US$42.03 on March 18 to a high of US$62.58 on May 6 in the wake of renewed buying interest.

4 August 2015 | 12:08PM |

Oil & Gas

Yong Tai signs 5 MoUs involving 5 property projects with GDV of RM7bil

PETALING JAYA: Garment-maker-turned-property developer Yong Tai Bhd has entered into five separate memorandums of understanding (MoUs) to acquire land and businesses that can provide the company with five potential property development projects in the Klang Valley, Malacca and Johor. Yong Tai told Bursa the five projects were expected to carry a combined gross development value (GDV) of RM7bil over the next eight years.

4 August 2015 | 12:00AM |

Stocks

Hibiscus Petroleum unit awarded concession in Egypt

KUALA LUMPUR: Hibiscus Petroleum Bhd’s wholly-owned unit, Gulf Hibiscus Ltd, has been awarded the South East Ras El Ush concession (Block 2) in Egypt by the Ganoub El-Wadi Petroleum Holding Co, an entity of Egypt’s Ministry of Petroleum.

5 August 2015 | 12:00AM |

Oil & Gas

UK takes one billion pounds hit in RBS sell-off

LONDON: Britain took a 1.1 billion pound (US$1.7 billion) loss on its first sale of shares in Royal Bank of Scotland on Tuesday, sparking accusations of poor timing from opposition politicians.

5 August 2015 | 6:58AM |

Stocks

Kellogg to stop using artificial products in cereals, snack bars

NEW YORK: Kellogg Co's Corn Flakes and Rice Krispies are set to turn all-natural soon. The 109-year old company, whose cereals have been a popular breakfast choice for decades, said on Tuesday it was aiming to stop using artificial colors and flavors in its cereal and snack bars by the end of 2018.

5 August 2015 | 6:51AM |

Stocks

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