MarketWatch: Technology companies have been a driving force behind the US stock market's recent record rally, and despite mounting evidence of stretched valuations the sector remains a top pick for investors expecting a wave of capital expenditures by US corporations. - Reuters
Top foreign stories
Deutsche Bank to raise 8 billion euros, plans major reorganisation: Deutsche Bank plans to raise capital, list its asset management business and overhaul its business structure as it tries to reinvent itself after spending two years dealing with its past misdeeds and huge losses. Deutsche plans to launch an 8 billion euro (US$8.5 billion) rights issue of 687.5 million new shares on March 21, priced at around a 39% discount to Friday's closing price of 19.14 euros. - Reuters
China cuts growth goal, puts focus on reform and 'firewall' against risks: China has cut its growth target this year as the world's second-largest economy pushes through painful reforms to address a rapid build-up in debt, and erects a "firewall" against financial risks. China aims to expand its economy by around 6.5%, Premier Li Keqiang said in his work report at the opening of the annual meeting of parliament on Sunday. - Reuters
Peugeot poised to buy GM's Opel: France's PSA Group is set to announce a deal to buy Opel from General Motors on Monday after striking an agreement with the US carmaker and winning the blessing of its board for the acquisition. - Reuters
Top local stories
Press Metal to raise production on increasing demand for aluminium: Press Metal Bhd plans to increase production by 20% to 760,000 tonnes this year, in the process gaining better margins following the recovery of aluminium prices. - StarBiz
Texchem invests RM74m to gain better footing: Texchem Resources Bhd plans to spend RM74mil for existing and new businesses this year to boost its performance. The planned investments should position the company on a stronger footing after poor seafood landing caused its food division to decline in the financial year ended Dec 31, 2016. - StarBiz
RAM expects lower value of global sukuk issues in 2017: RAM Rating Services Bhd projects global sukuk issues of a total US$60bil to US$70bil in 2017 amid the ramping up of infrastructure-led projects in core sukuk markets. Last year, a total of US$72.9bil worth of sukuk was issued globally. - StarBiz
MSC set to ride on global tin price recovery: Analysts expect the spike in tin prices, together with the strengthening of the US dollar, will bring significant improvement to Malaysia Smelting Corp Bhd’s profits in the coming quarters. Global tin prices have surged by almost 40% to about US$19,500 per tonne. - StarBiz
MSC chief Yong: English is key for M’sia to remain competitive: Royal Selangor International Sdn Bhd chairman Tan Sri Yong Poh Kon says a good grasp of English by Malaysians will “definitely be the X-factor that improves the country’s competitiveness”. - StarBiz
CIMB-Principal obtains renminbi licence: CIMB-Principal Asset Management Bhd has become the first asset management company in Malaysia to obtain the Renminbi Qualified Foreign Institutional Investor licence, which gives it direct access to China’s capital markets. - StarBiz
L&G minority shareholders in a bind: Land & General Bhd (L&G) is giving its minority shareholders a hard question to answer — whether they should vote for or against the proposed asset injection by its ultimate controlling shareholder Malaysia Land Properties Sdn Bhd. - Edge FD
CAB Cakaran expects 20% rise in revenue: CAB Cakaran Corp Bhd expects to see a further growth of at least 20% in its current year’s revenue after reporting a record high turnover of RM1.1 billion in the previous year. Its broiler output has increased to six million birds a month from five million in the financial year ended Sept 30, 2016. - Edge FD
IMF: Malaysia should continue reforms in bid for high-income status: Malaysia should continue its structural reforms, including improving the quality of education, enhancing productivity and addressing skill mismatches in the labour market, in its bid to achieve its target of becoming a high-income country, says the International Monetary Fund. - Edge FD
Cycle & Carriage sees better year ahead: After reporting lower 2016 earnings, Cycle & Carriage Bintang Bhd, the largest dealer of Mercedes-Benz vehicles in Malaysia, is hopeful of a better showing in 2017 with the launch of several facelifted models and locally assembled E-Class cars. - Edge FD
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