Business

Money flows out

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.

Education - is it alleviating poverty or causing it?

EDUCATION is the social game changer. In poor countries, it alleviates poverty. In developing nations like Malaysia, a more educated population can catapult us to developed status.

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.

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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

‘Surprise’ dividend in store for MISC shareholders

PETALING JAYA: MISC Bhd, an energy shipping as well as oil and gas services provider, may reward its shareholders with a “surprise” dividend for the financial year ending Dec 31, 2014, following an extraordinary gain from the recent sale of its 15.7% stake in port operator, NCB Holdings Bhd, for close to RM222mil in cash.

22 December 2014 | 12:00AM |

Stocks

Dialog shares up on Pengerang project

KUALA LUMPUR: Shares of Dialog Group rose at mid-morning on Monday following its pact with PRPC Utilities and Facilities Sdn Bhd and Vopak Terminal Pengerang BV to develop a RM6.3bil project in Pengerang, Johor.

22 December 2014 | 10:25AM |

Stocks Analysis

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

KLCI continues rebound, up 24 points at midday

KUALA LUMPUR: The local market is continuing its three-day rally from last week, surging 24.28 points at the break on Monday on a day when sentiments stayed bright and positive all around in Asian markets.

22 December 2014 | 1:07PM |

Stocks

Asian shares take cue from Wall Street's rally

TOKYO: Asian shares took their cues from Wall Street and kicked off a holiday-shortened week on a strong footing on Monday, while the euro touched a fresh two-year low against the greenback on divergent monetary policy expectations.

22 December 2014 | 12:03PM |

Corporate News

PNB appoints Idris Kechot as COO

KUALA LUMPUR: Permodalan Nasional Berhad (PNB) has appointed Datuk Idris Kechot as its deputy president and group chief operating officer effective December 2014.

22 December 2014 | 11:48AM |

Corporate News

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