The IMF is pressing Japan to raise the sales tax rate to 10% in October 2015, while also voicing support for the Bank of Japan's (HQ in pix) epic monetary injection into the economy - Reuters Photo.
Energy
Brent crude was 0.67% US$44.81 3.53pm.
Forex
Ringgit down 0.06% to 3.9028 at 4.18pm.
Top foreign stories
Investors look beyond Big Oil’s worst quarter yet: The world’s top oil companies are set to report their worst quarterly results yet in the current downturn but a recent recovery in crude prices is raising hopes the market has bottomed out. — Reuters
Bangladesh Bank hackers compromised SWIFT software: The attackers who stole US$81 million from the Bangladesh central bank probably hacked into software from the SWIFT financial platform that is at the heart of the global financial system, said security researchers at British defence contractor BAE Systems. - Reuters
BoJ likely to debate easing: Japan’s central bank is likely to cut its price forecasts on Thursday and debate whether a strong yen, weak global demand and soft consumption have hurt inflation expectations enough to warrant another blow of stimulus. — Reuters
Top local stories
EPF to take up 80% stake in MRCB subsidiary: The Employees Provident Fund (EPF) is taking up an 80% stake in Malaysian Resources Corporation Bhd
’s (MRCB) subsidiary which will receive 28.13 acres of land in Kuala Lumpur in exchange for upgrading and privatising the National Sports Complex in Bukit Jalil. — StarBiz
Sime kicks off planting of high-yeild palm oil geneme: Sime Darby has kicked off the first commercial planting of its new high-yielding oil palms genome, expected to increase yield by up to 15% using existing land. The group said it expects to see significant increases to its profits due to this breakthrough by financial year 2021. — StarBiz
Hektar REIT sets aside RM20mil for Landmark Central: Hektar Real Estate Investment Trust (Hektar REIT), which focuses on the management of retail shopping centres, will continue its series of mall enhancement initiatives with an allocation of RM20mil for Landmark Central in Kulim.
MAHB launches new five-year plan: Malaysia Airports Holdings Bhd (MAHB) will be launching its five-year plan, Runway to Success 2020, to chart its business directions for 2016-2020. The Runway to Success is a follow through from the airport operator’s earlier five-year business plan, Runway to Success 2010-2014 saw MAHB become the world’s second largest airport group in terms of number of passengers handled (2015:112 million). — StarBiz
Bursa first-quarter profit rises 6%: Bursa Malaysia posted a net profit of RM49.94mil in the first quarter, up 6.1% from a year ago, on the back of higher operating revenue. Revenue for the quarter was 5.4% higher to RM133.93mil from RM127.09mil in the previous year.
Foreign investor extend buying spree: Foreign investors stretched their equities buying spree to 10 consecutive weeks, bringing the total amount to RM7.32bil, said MIDF Research in a note on Monday. The amount had receded for five consecutive weeks from the peak recorded in the week ended March 18, when RM1.48bil was mopped up.
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