Energy
Brent crude was up 1.02% to US$47.75 per barrel at 2.51pm.
Forex
Ringgit up 0.04% to 4.4655 versus the US dollar at 2.57pm.
Top foreign stories
Samsung Elec considers structural split as investor pressure builds: South Korea’s Samsung Electronics Co Ltd said on Tuesday it will increase dividends and consider splitting itself, as the tech giant faces possibly the biggest structural change in its 47-year history. — Reuters
Australian regulator opposes collective bank bargaining on Apple Pay: Three of Australia’s four biggest banks will be barred from collectively bargaining with Apple Inc over its mobile digital payments system, under a draft decision released by the antitrust regulator on Nov 29. — Reuters
China forex regulator tightens controls to stem capital outflows: China is stepping up measures to stem capital outflows after the yuan currency skidded to more than eight-year lows, taking aim at outbound investment, sources said. The State Administration of Foreign Exchange has begun vetting transfers abroad worth US$5 million or more and is stepping up scrutiny of major outbound deals, including those with prior approval, they said. — Reuters
Singapore central bank says banks must guard against rising bad loans: Singapore’s central bank on Tuesday urged the city-state’s banks to guard against a potentially protracted economic slowdown amid a rise in bad loans, but said the financial system remains capable of withstanding a severe stress event. — Reuters
Top local stories
Flat Q2 earnings for AFG: Alliance Financial Group Bhd (AFG) posted flat earnings of RM132.59mil for the second quarter from RM134.66mil a year ago. Revenue dipped 1.7% to RM359.72mil from RM365.91mil while earnings per share stood at 8.7 sen compared with 8.8 sen previously. AFG declared an interim dividend of 8.5 sen a share compared with eight sen a year ago. — StarBiz
Sime property arm targets RM2.5b sales: Sime Darby Property Bhd
, the property arm of Sime Darby Bhd, targets higher sales of RM2.5 billion for its financial year ended June 30, 2017 compared with RM2 billion in FY16, says managing director Datuk Ir Jauhari Hamidi. — StarBiz
Sime Darby Property picks Turner International as project consultant: Sime Darby Property has signed on international construction services company Turner International as its project and construction management consultant for potentially three high-rise developments, collectively worth over RM1.3bil in gross development value. — StarBiz
Putrajaya Perdana unit clinches RM408m contract: Putrajaya Perdana Bhd subsidiary Putra Perdana Construction Sdn Bhd has clinched a RM408 million contract to build a 17-storey service apartment for Sime Darby Ara Damansara Development Sdn Bhd. — Bernama
Mida okays RM2b RE investments: The Malaysian Investment Development Authority (Mida) approved investments totalling RM2.07 billion for renewable energy (RE) projects in the first eight months this year, up from RM1.37 billion approved for the whole of 2015. — Bernama
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