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

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

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

Japanese businessmen walk past an electric quotation board flashing share prices of the Tokyo Stock Exchange. The Nikkei 225 index was up 13.74 points to 17,635 yesterday in Tokyo. –  AFP

Bursa rebounds in line with region

PETALING JAYA: Equity markets across Asia jumped, led by a sharp rebound on Bursa Malaysia, as buyers waded in to pick up battered stocks after a heavy sell-off by foreign investors last week brought valuation down to attractive levels.

23 December 2014 | 12:00AM |

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

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

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

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

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 |

Exminister Kudrin warns of fullfledged crisis in Russia

MOSCOW: Russia's government has pushed the country into an economic crisis by not tackling its financial problems fast enough, former finance minister Alexei Kudrin said on Monday, as evidence mounted of trouble spreading through the economy.

23 December 2014 | 7:43AM |

Stocks

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