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The market is expecting BNM to hold its benchmark OPR to shore up the ringgit. – Reuters

All eyes on Bank Negara meeting on Wednesday

PETALING JAYA: There is little change in the ringgit, which is near its lowest level in more than a year, ahead of Bank Negara’s scheduled interest rate meeting tomorrow. The market is expecting the central bank to hold its benchmark overnight policy rate (OPR) to shore up the local currency.

“There is interest and parties from both sides are said to be waiting for the central bank’s green light to begin negotiations officially,” said a banking source. “However, the challenge would be meeting the demands of AFB’s diverse shareholders,” noted a banker.

MBSB in M&A talks again?

PETALING JAYA: After two failed merger attempts, Malaysia Building Society Bhd (MBSB) is rumoured to be in merger and acquisition talks again, this time with Asian Finance Bank Bhd (AFB), sources say. AFB is one of the three stand-alone Middle Eastern-based Islamic banks operating in Malaysia.

Enterprising move: Sultan Ibrahim (3rd from left) unveiling the IIBD brand and logo at the Persada International Convention Centre. Looking on are (from left) Johor Mentri Besar Datuk Mohamed Khaled Nordin, Kamaruzzaman and Tunku Mahkota Johor Tunku Ismail Sultan Ibrahim.

Johor’s new business district needs special incentives, tax breaks

JOHOR BARU: The Government should give special incentives and tax breaks to spur development of the Ibrahim International Business District (IIBD).

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Although cyber criminals have been attacking cash machines for at least five years, the early campaigns mostly involved small numbers of ATMs.

Cyber hackers target ATMs, Europe and Malaysia hit

CYBER criminals have remotely attacked cash machines in more than a dozen countries across Europe this year, using malicious software that forces machines to spit out cash, according to Russian cyber security firm Group IB.

22 November 2016 | 7:01AM |

Banking

Ringgit halts a five-day decline

KUALA LUMPUR: The ringgit rebounded from five consecutive days of losses to open higher against the US dollar Tuesday morning, lifted by stronger oil prices.

22 November 2016 | 11:00AM |

Forex

Ringgit pares early gains

KUALA LUMPUR: The ringgit, which rebounded from five consecutive days of losses to open higher against the US dollar Tuesday morning, pared down its gains.

22 November 2016 | 1:30PM |

Markets

FGV Q3 net loss widens to RM94.86mil

PETALING JAYA: Felda Global Ventures Holdings Bhd’s (FGVH) loss attributable to shareholders for the third quarter of financial year 2016 widened to RM94.86mil, driven by a 57.7% lower profits registered by all five segments of FGVH.

22 November 2016 | 3:54PM |

Earnings

This 2014 file photo shows Supermax staff showing the company's range of gloves during the 7th International Rubber Glove Conference and Exhibition in Kuala Lumpur.

Supermax expects profit margin to rise 9% to 11%

KUALA LUMPUR: Supermax Corp Bhd expects its profit margin for financial year ending June 30, 2017 to rise by between 9% and 11%, given the growing demand for rubber gloves, consumption of contact lenses and through distribution of products.

22 November 2016 | 6:36PM |

Corporate News

Less than sweet outlook for MSM

PETALING JAYA: MSM Malaysia Holdings Bhd’s earnings will continue to be impacted by the weakening ringgit and higher raw sugar price in the fourth quarter.

22 November 2016 | 12:34PM |

Analyst Reports

Felda still leads Malaysian palm oil

KUALA LUMPUR: Felda Global Ventures Holdings Bhd remains the Malaysian palm oil sector leader while IOI Corp Bhd exhibits a stronger business profile, owing to its highly efficient upstream operations and integrated business model, Moody’s Investors Service said.

22 November 2016 | 12:00AM |

Felda

This 2014 file photo shows Supermax staff showing the company's range of gloves during the 7th International Rubber Glove Conference and Exhibition in Kuala Lumpur.

Supermax expects profit margin to rise 9% to 11%

KUALA LUMPUR: Supermax Corp Bhd expects its profit margin for financial year ending June 30, 2017 to rise by between 9% and 11%, given the growing demand for rubber gloves, consumption of contact lenses and through distribution of products.

22 November 2016 | 6:36PM |

Corporate News

FGV Q3 net loss widens to RM94.86mil

PETALING JAYA: Felda Global Ventures Holdings Bhd’s (FGVH) loss attributable to shareholders for the third quarter of financial year 2016 widened to RM94.86mil, driven by a 57.7% lower profits registered by all five segments of FGVH.

22 November 2016 | 3:54PM |

Earnings

Eurozone nations turn to hedge funds to meet borrowing needs

LONDON: Eurozone governments are increasingly relying on hedge funds to help them meet their borrowing needs, which risks leaving them vulnerable to a debt market sell-off driven by a class of investors dubbed "fast money" for their speculative approach.

22 November 2016 | 3:33PM |

Economy

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UOBKay Hian ups AMMB’s target price to RM4.05

PETALING JAYA: AMMB Holdings Bhd’s (AMMB) provision write-backs cushioned the second quarter of financial year 2017 (2QFY17) and is likely to extend into the second half of financial year 2017 (2HFY17), said UOBKayHian Malaysia Research on Tuesday.

22 November 2016 | 2:04PM |

Analyst Reports

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