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

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

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

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

Spot gold was little changed at US$1,194.95 an ounce by 0023 GMT on Monday, after losing about 2% last week on worries over a US interest rate hike next year - Reuters Photo.

Gold struggles below US$1,200 as equties, dollar rise

SINGAPORE: Gold was stuck below US$1,200 an ounce on Monday, struggling to get past last week's losses, hurt by a stronger dollar and equities which dulled the metal's safe haven appeal, and expectations of higher US interest rates.

22 December 2014 | 9:40AM |

Commodities

‘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

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

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

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

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

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

RHB upgrades NTPM to Neutral from Sell

KUALA LUMPUR: RHB Research has upgraded NTPM Holdings to Neutral from Sell with a target price of 67 sen pegged to 15.5 times P/E on CY15 EPS, which is at a 22% discount to its peer average of 20 times.

22 December 2014 | 9:50AM |

Analyst Reports

Kenanga Research maintains Outperform on Dialog

KUALA LUMPUR: Kenanga Research has maintained its Outperform call on Dialog with a target price of RM1.67 and reduced its CY15 PER valuation for the core businesses to 15 times in lieu of the weak sentiment of the oil and gas sector.

22 December 2014 | 9:45AM |

Analyst Reports

Spot gold was little changed at US$1,194.95 an ounce by 0023 GMT on Monday, after losing about 2% last week on worries over a US interest rate hike next year - Reuters Photo.

Gold struggles below US$1,200 as equties, dollar rise

SINGAPORE: Gold was stuck below US$1,200 an ounce on Monday, struggling to get past last week's losses, hurt by a stronger dollar and equities which dulled the metal's safe haven appeal, and expectations of higher US interest rates.

22 December 2014 | 9:40AM |

Commodities

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