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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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

US and allies confrontation with Russia and China on scale never seen since Cold War

The shooting last July down of Malaysia Airlines flight MH17 over eastern Ukraine, where government forces have been fighting pro-Russian separatist rebels, was a reminder of the dangers to civil aircraft flying over contested air space. NATO said earlier this month that its jets had scrambled more than 400 times this year as Russian air force jets approached its air space, twice the level from 2013

23 December 2014 | 7:58AM |

Stocks

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

NO, no, no way: As Saudi Arabian Oil Minister Ali Al-Naimi once again quashed hopes that oil production would be cut to stabilise falling prices, equity investors are now focusing on the benefits of low fuel prices on consumer spending power - AFP Photo.

Asia pauses after Wall St peak, dollar stands tall

SYDNEY: A holiday lull settled over Asian markets on Tuesday after Wall Street closed at historic highs while oil prices suffered a stinging setback after Saudi Arabia quashed all thought of curbing supply.

23 December 2014 | 11:36AM |

Stocks

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

Yinson earnings soar on unit disposal gains

PETALING JAYA: Oil and gas services provider Yinson Holdings Bhd saw its net profit soar more than four-fold to RM85.79mil in its third quarter ended Oct 31 from RM15.51mil in the same quarter a year ago, thanks to gains from the disposal of a subsidiary, increase in forex exchange gains and an improvement in its marine segment business.

23 December 2014 | 12:00AM |

Stocks

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

NO, no, no way: As Saudi Arabian Oil Minister Ali Al-Naimi once again quashed hopes that oil production would be cut to stabilise falling prices, equity investors are now focusing on the benefits of low fuel prices on consumer spending power - AFP Photo.

Asia pauses after Wall St peak, dollar stands tall

SYDNEY: A holiday lull settled over Asian markets on Tuesday after Wall Street closed at historic highs while oil prices suffered a stinging setback after Saudi Arabia quashed all thought of curbing supply.

23 December 2014 | 11:36AM |

Stocks

Goldman leads AsiaPac ECM ranking

HONG KONG: Goldman Sachs led underwriting rankings in Asia ex-Japan equity capital markets (ECM) in 2014, preliminary data released by Thomson Reuters showed. Total ECM deal volumes for the region rose 18 percent from 2013 to $215.8 billion, according to the data.

23 December 2014 | 10:00AM |

Banking

Argentina to cut fixed price of its crude by 7%

BUENOS AIRES: Argentina's central government and oil producing provinces have agreed to cut the fixed price of crude oil produced and sold in the South American country by 7 percent to US$78 per barrel, the head of an influential oil union said on Monday.

23 December 2014 | 9:55AM |

Oil & Gas

RHB Research maintains Neutral on WCT

KUALA LUMPUR: RHB Research has maintained its Neutral call on WCT with a target price of RM1.64 based on 12 times revised fully-diluted FY15F EPS of 13.7 sen, in line with its benchmark sector one-year forward target P/Es of 10-16 times.

23 December 2014 | 9:42AM |

Analyst Reports

KLCI continues upward trend

KUALA LUMPUR: The FBM KLCI has continued its upward momentum and rose nearly three points during early trade on Tuesday underpinned by banks and key heavyweights, while analysts are expecting the index to hover around 1,780 and the 1,800 levels.

23 December 2014 | 9:16AM |

Markets

US and allies confrontation with Russia and China on scale never seen since Cold War

The shooting last July down of Malaysia Airlines flight MH17 over eastern Ukraine, where government forces have been fighting pro-Russian separatist rebels, was a reminder of the dangers to civil aircraft flying over contested air space. NATO said earlier this month that its jets had scrambled more than 400 times this year as Russian air force jets approached its air space, twice the level from 2013

23 December 2014 | 7:58AM |

Stocks

U.S. existing home sales hit six-month low

WASHINGTON: U.S. home resales tumbled to a six-month low in November after two straight months of strong increases, underscoring the uneven nature of the housing market recovery.

23 December 2014 | 7:50AM |

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