Energy
Brent crude was up 0.37% to US$46.02 per barrel at 3.36pm.
Forex
Ringgit down 0.69% to 4.1528 versus the US dollar at 3.43pm.
Top foreign stories
Japan govt to raise around US$3.8b via JR Kyushu IPO: The Japanese government will raise around US$3.8 billion through the privatisation of Kyushu Railway Co in the country’s biggest initial public offering this year, a regulatory filing by the railway operator on Thursday showed. — Reuters
Philippines approves tender for US$1.6b upgrade of clogged Manila airport: A Philippine inter-agency panel chaired by President Rodrigo Duterte said on Thursday it has approved for auction a 74.56 billion peso (US$1.57 billion) contract to overhaul Manila’s over-stretched international airport. — Reuters
McDonald’s gets final bids for N. Asia stores: Fast-food giant McDonald’s Corp has received final offers from at least three bidding groups for its China and Hong Kong outlets, with global private equity firms Carlyle Group and TPG Capital teaming up with Chinese partners for the business worth up to US$3 billion, sources said. — Reuters
Apple says initial quantities of iPhone 7 Plus sold out: Initial quantities of the iPhone 7 Plus have sold out globally as Apple Inc prepares to roll out its new gadget in stores on Sept 16, the company said. — Reuters
Top local stories
Fitch: Property developer lending can stoke risks: The decision to grant lending licences to property developers can add to the risks associated with rising household debt, says Fitch Ratings. The scheme is likely to encourage unregulated lending to households with weak financial profiles, and undermine the strength of the financial system if not implemented prudently, it said on Thursday. — Bernama
Japan’s Taisei Lamick ups takeover price for Maypak: Japan’s Taisei Lamick Co Ltd, which owns 54.95% of Malaysia Packaging Industry Bhd (Maypak), has launched an unconditional mandatory takeover offer for remaining stake at a whopping 65 sen a share. — StarBiz
Rising protectionist sentiment temporary, says Mustapa: The rising tide of protectionism against trade globally is expected to be temporary and would depend on respective governments’ efforts to tackle the issue, said Datuk Seri Mustapa Mohamed. — Bernama
Aemulus
in RF test system tie-up with China firm: Aemulus Holdings Bhd is teaming up with China’s Shanghai Testrong Technologies Co Ltd to market the Aemulus radio frequency (RF) test system to Chinese-owned companies. — StarBiz
Perak Transit to use RM20m of IPO proceeds for expansion: Ipoh-based bus company, Perak Transit Bhd, is allocating RM20 million of its initial public offering (IPO) proceeds totalling RM36.75 million for expansion. Chief finance officer John Loh Kwang Yean said the company plans to build a new integrated public transportation terminal in Kampar, Perak, and to buy 25 new express buses. — Bernama
Crude palm oil export tax to rise to 6.5% in October: The crude palm oil export tax will increase to 6.5% in October from 5% currently. The Customs Department said the new tax was calculated based on a reference price of RM2,879.47 per tonne. — Bernama
Limited time offer:
Just RM5 per month.
