Energy
Brent crude was 0.97% higher at US$49.05 per barrel at 3.37pm.
Forex
Ringgit up 0.68% to 4.0495 versus the US dollar at 3.45pm.
Top foreign stories
Sony upbeat on games and robots but cuts outlook for image sensors: Japan’s Sony Corp on Wednesday lifted the sales target for its games division next year on hopes for its new virtual reality headset, and said it would re-enter robots a decade after it last abandoned the business. But the electronics giant cut its outlook for image sensor sales amid slowing demand for smartphones, and maintained its operating profit target of 500 billion yen (US$4.9 billion) for the year beginning April. — Reuters
Japan PM Abe pledges broad policy support to weather Brexit shock: Japanese Prime Minister Shinzo Abe on Wednesday pledged to use all available policy tools to keep the wheels of the economy turning as financial markets were gripped by uncertainty in the wake of Britain’s shock vote to exit the European Union. — Reuters
China aluminium makers boost output, risking new trade tensions: After signs China was curbing aluminium output late last year, the world’s biggest producer is gradually increasing output again, raising the risk of fresh tensions with global trading partners from any spike in exports. — Reuters
Top local stories
PTP to invest over RM8.6b to expand capacity: The Port of Tanjung Pelepas (PTP) will invest more than RM8.6 billion to expand the port’s capacity over the next five to 15 years. Chairman Datuk Seri Che Khalib Mohamad Noh said the immediate plan was to embark on a comprehensive upgrading, refurbishment of quay cranes and rubber-tyred gantries. — Bernama
UEM Sunrise
signs land accord with S. Korea cosmetics giant: UEM Land Bhd, a subsidiary of UEM Sunrise Bhd, the master developer of Iskandar Puteri, has inked an agreement with South Korean cosmetics firm AMOREPACIFIC Corp. The accord is for the sale of land parcels within the Southern Industrial and Logistics Clusters (SiLC) in Iskandar Puteri in Johor. — Bernama
Eastern & Oriental says no impact from Brexit: Eastern & Oriental Bhd (E&O) says Britain’s exit from the European Union will not have any negative impact on the total net realisable value of its properties in the UK. — StarBiz
MAHB hopes for more passengers in H2 of 2016: Malaysia Airports Holdings Bhd (MAHB) hopes to increase the number of passenger movements in the second half of this year with its new international flights and existing carriers. — StarBiz
Gas Malaysia hikes tariffs for non-power sector by nearly 6%: Gas Malaysia Bhd is raising the natural gas tariffs for the non-power sector in Peninsular Malaysia by 5.95% with effect from July 15. The company said the average gas tariff will be revised upwards by RM1.52 per one million British terminal unit (MMBtu) to RM27.05 per MMBtu from RM25.53 before. — StarBiz
HSS Engineers to raise RM31.9m from IPO: HSS Engineers Bhd is looking to raise RM31.91mil from its proposed listing on the ACE Market of Bursa Malaysia. About 75.2% of the proceeds will be used for its expansion into India as well to provide support services as it seeks to foray into the water and power sectors in Malaysia. — StarBiz
Ann Joo’s long-term profit hinges on safeguard measures: Although Ann Joo Resources Bhd could see supernormal earnings in the second quarter of this year, its long-term profitability hinges on measures to curb cheap imports of bars and rods from China. — StarBiz
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