Business

Ekuinas O&G arm sees heavy selling as lockup period ends

PETALING JAYA: On a day when most stocks were on an uptrend on the back of the market gaining 28 points, Icon Offshore Bhd, the oil and gas (O&G) service provider of Ekuiti Nasional Bhd (Ekuinas), saw some heavy selling.

Tajuddin says the introduction of the index would let people look at value from a new perspective.

Bursa unveils Environmental, Social and Governance Index

KUALA LUMPUR: Bursa Malaysia Bhd has announced the launch of the Environmental, Social and Governance (ESG) Index.

Auto sales up on year-end campaigns November TIV rises to 55, 313 units

PETALING JAYA: Malaysia’s automotive total industry volume (TIV) in November increased 5.9% to 55,313 units from 52,252 units in the previous corresponding period, driven by year-end promotional campaigns and new model launches, according to the Malaysian Automative Association (MAA).

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As much as RM70bil stands to flow out of Malaysia

PETALING JAYA: Tracking the flow of global investment funds is a tricky business. But the ringgit’s recent sharp depreciation against the US dollar has led to suggestions by some economists that as much as RM70bil stands to flow out of the country, largely due to foreign investors liquidating their position in the bond market.

22 December 2014 | 12:00AM |

Economy

There are advantages to a weakening currency. It makes Malaysian exports competitive and attracts more foreign investments as cost of doing business becomes cheaper. Tourists’ arrivals should also see a rise.

Malaysia is getting wealthier but are you feeling it?

LAST week, I was on the hot seat of a live call-in radio programme organised by the ETP (Economic Transformation Programme). On air now for over a year, the show calls for Pemandu (the Performance Management and Delivery Unit) and government officials to bravely front a hotbed of issues, fielding no-holds barred questions from some smart people.

22 December 2014 | 12:00AM |

Personal Finance

Philip Capital Management says the present foreign-selling of shareholdings are temporary and stems largely from reluctant sellers who fear a weaker ringgit would erode their investment based on exchange rate.

Foreign-selling temporary, market to bounce back: Philip Capital

KUALA LUMPUR: The foreign-selling of Malaysian bonds and shares in the last two months leading to depressing market sentiments is due to a weaker ringgit rather than a bleak economy, and as such the trend is temporary, according to Philip Capital Management.

22 December 2014 | 10:51AM |

Stocks

Saudi minister on reasons for oil price fall

DUBAI: Saudi Arabia’s oil minister said non-cooperation by producers outside of the Organisation of the Petroleum Exporting Countries and the actions of speculators had led to the oil price fall, but he was confident the market would improve.

22 December 2014 | 12:00AM |

Oil & Gas

China says its will extend a helping hand to Russia if needed but believes the country has the ability to overcome its current economic problems - AFP Photo.

China says willing to help Russia

BEIJING: China is willing to help Russia if needed but believes that the country has the ability to overcome its current economic problems, Chinese Foreign Minister Wang Yi was quoted as saying in a state newspaper on Monday.

22 December 2014 | 11:38AM |

Economy

Apollo Food Q2 net profit falls 27% to RM4.8mil

KUALA LUMPUR: Apollo Food Holdings Bhd’s net profit in the second quarter ended Oct 31, 2014 fell 27% to RM4.8mil from RM6.6mil despite revenue climbing 6.5% to RM51.4mil from RM48.2mil in the corresponding period a year earlier.

22 December 2014 | 5:44PM |

Earnings

MAS welcomes 100th Boeing 737 aircraft

SEPANG: Malaysia Airlines (MAS) today welcomed the arrival of its 100th Boeing 737 aircraft, celebrating more than 40 years of partnership with the aircraft manufacturer.

22 December 2014 | 4:47PM |

Airlines

M’sian bond yield under pressure due to weaker ringgit and oil price

PETALING JAYA: Although most analysts are not revising their bond projections target for next year, many agree that bonds, especially the Malaysian Government Securities (MGS), will come under intense pressure in terms of yields with lower crude prices coupled with the weaker ringgit.

22 December 2014 | 12:00AM |

Stocks

Oil and stocks go their separate ways

NEW YORK: Investors have wrung their hands over the last several weeks over the effect of lower oil prices on the broader S&P 500, but the relationship between the two is actually starting to break down.

22 December 2014 | 12:00AM |

Oil & Gas

Salcon’s 50% JV secures RM470mil sewerage contract

PETALING JAYA: Water facilities and sewerage player Salcon Bhd and its 50% partner Loh & Loh Constructions Sdn Bhd have been awarded an RM470mil sub-contract from MMC Corp Bhd for a centralised sewage treatment plant project.

23 December 2014 | 12:00AM |

Stocks

Dialog’s participation in Rapid EPCC project lauded, 'buy';NTPM 'neutral'

DIALOG Group Bhd’s subsidiary Dialog Equity (Two) SB had inked a shareholders agreement with PRPC Utilities and Facilities Sdn Bhd and Vopak Terminal Pengerang BV to develop a RM6.3bil project for the handling, storing and distribution of crude oil and petrochemical feedstock/products to and from Refinery and Petrochemical Integrated Development (Rapid).

23 December 2014 | 12:00AM |

Analyst Reports

Foreign reserves lower in first half of Dec

PETALING JAYA: Malaysia’s foreign reserves dropped RM17.6bil in the first half of December, reflecting the heavy outflow of funds from the country’s capital markets during the period.

23 December 2014 | 12:00AM |

Banking

Azmi set to join Prasarana next month

PETALING JAYA: Land Public Transport Commission (SPAD) chief development officer Azmi Abdul Aziz will be rejoining Prasarana Malaysia Bhd as its group managing director effective Jan 1, 2015.

23 December 2014 | 12:00AM |

Stocks

Apollo Food Q2 net profit falls 27% to RM4.8mil

KUALA LUMPUR: Apollo Food Holdings Bhd’s net profit in the second quarter ended Oct 31, 2014 fell 27% to RM4.8mil from RM6.6mil despite revenue climbing 6.5% to RM51.4mil from RM48.2mil in the corresponding period a year earlier.

22 December 2014 | 5:44PM |

Earnings

KLCI ends Monday almost 29 points up

KUALA LUMPUR: The FBM KLCI extended its gains on Monday and ended the day nearly 29 points higher in tandem with the firmer Asian equities, as the oil price recovery helped in aiding investors' sentiments.

22 December 2014 | 5:23PM |

Markets

MAS welcomes 100th Boeing 737 aircraft

SEPANG: Malaysia Airlines (MAS) today welcomed the arrival of its 100th Boeing 737 aircraft, celebrating more than 40 years of partnership with the aircraft manufacturer.

22 December 2014 | 4:47PM |

Airlines

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