Wong: ‘There’s a substantial amount of foreign holdings on MGS.’

Analysts: Greece fallout unlikely to affect Malaysia, concern about ringgit

PETALING JAYA: The fallout from Greece’s possible exit from the European Union following its debt crisis is unlikely to have a contagion effect on the Malaysian economy for now. But the concern is more on Fitch’s credit rating of Malaysia that could impact the ringgit, which is seeing minimal effects from the Greece problem.

Project 3B plant ops date delayed due to transfer from 1MDB to TNB

PETALING JAYA: The earliest date of commercial operation for the 2x1,000 MW coal-fired power plant in Jimah, coded Project 3B, in Negri Sembilan, has been postponed to June 2019 from the original October 2018.

Yinson focuses on O&G

PETALING JAYA: The founding shareholders of Yinson Holding Bhd have made an offer to buy the company’s logistics and trading businesses for RM228mil, allowing Yinson to focus on its oil and gas (O&G) venture. Group executive chairman, Lim Han Weng said proceeds from the exercise would be used to fund its expansion in the O&G industry.

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Unexpected move: Pensioners queue outside a closed bank in Athens. Greece will keep banks shut at least until after July 5, the date of the referendum, and withdrawals from automated teller machines – which were shut yesterday – will be limited to 60 euros a day when they reopen today. — AFP

Greece reels in shock as banks shut

ATHENS: Greeks woke up to shuttered banks, closed cash machines and a climate of rumours and conspiracy theories yesterday as a breakdown in talks between Athens and its creditors pushed the austerity-battered country to the brink.

30 June 2015 | 12:00AM |


Greece is the word

PETALING JAYA: The problems in Greece have been well-articulated over the last six years. Almost every investor knows that it has a deadline to meet today or may be forced out of the European Union. But when the banks in Greece shut down for a week, it wreaked havoc on global markets.

30 June 2015 | 12:00AM |


Asia Forex hit: Ringgit around 9-1/2-yr low

SINGAPORE: Emerging Asian currencies lost ground on Monday with the Malaysian ringgit around a 9-1/2-year low as Greece was seen on course to a default on its debt repayment this week, causing investors to seek safer assets.

29 June 2015 | 9:56AM |


AIIB formed: Lou prepares to deliver a speech during the signing ceremony for the articles of agreement of the AIIB in Beijing. – AFP

Malaysia delays AIIB membership

BEIJING: Malaysia has delayed its membership to the Asian Infrastructure Investment Bank (AIIB), being part of the remaining seven members yet to sign the bank’s articles of agreement. Fifty out of the 57 prospective founding members signed the agreement at the Great Hall of the People here yesterday. The remaining seven have until end of the year to complete their internal procedures and sign the agreement.

30 June 2015 | 12:00AM |


Sunway Construction dangles dividend payout

KUALA LUMPUR: Sunway Construction Group Bhd is hoping to lure investors to its initial public offering (IPO) with the promise of bigger job wins and a steady dividend payout.

30 June 2015 | 12:00AM |


Xin Hwa stages firm debut as KLCI stages mild rebound

KUALA LUMPUR: Integrated logistics service provider Xin Hwa Holdings Bhd made a firm debut on Bursa Malaysia at 79 sen, or nine sen above its offer price of 70 sen, on Tuesday amid the global rout of world equities sparked by the Greece debt crisis.

30 June 2015 | 9:06AM |

Corporate News

AmBank, CIMB underpin KLCI rebound

KUALA LUMPUR: AmBank and CIMB helped the FBM KLCI rebound past the key 1,700 level in late morning trade on some window dressing activities after the recent selldown.

30 June 2015 | 11:41AM |


PNB declares 3.45 sen income distribution for ASN2

Amanah Saham Nasional Bhd, a subsidiary of Permodalan Nasional Bhd (PNB), declared an income distribution of 3.45 sen per unit for the Amanah Saham Nasional 2 (ASN2) fund for the financial year ending June 30, 2015.

30 June 2015 | 2:09PM |


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