The findings from the review concluded that Datuk Seri Nazir Razak did not misuse his position as the group chief executive at that time nor was there any inappropriate use of the bank
Energy
Brent crude was 0.44% lower to US$52.49 per barrel at 3:53pm.
Forex
Ringgit was flat at 4.2898 versus the US dollar at 3.09pm.
Top foreign stories
Sempra snatches Oncor from Buffett with US$9.45b bid: Bankrupt Texas utility Energy Future Holdings will abandon a deal to sell power transmission company Oncor to Warren Buffett’s Berkshire Hathaway Inc for US$9 billion and will accept a US$9.45 billion bid for Oncor by Sempra Energy instead, sources said. — Reuters
Thai Q2 GDP growth fastest in over 4 years: Thailand’s gross domestic product (GDP) grew a seasonally adjusted 1.3% in the June quarter from the first, the National Economic and Social Development Board said on Monday, faster than the 1.0% forecast in a Reuters poll and matched the March quarter’s pace. On a yearly basis, growth was 3.7%, the quickest rate in more than four years, and easily beating the median forecast of 3.2% and the 3.3% pace clocked in January-March. — Reuters
China’s HNA boosts Dufry stake: Chinese conglomerate HNA Group has completed the acquisition of a 16.2% stake in Swiss airport retailer Dufry AG from Singaporean sovereign funds GIC and Temasek, Dufry and HNA said on Monday. No value for the deal was given, but the stake would be worth about US$1.4 billion, given Dufry’s current market capitalisation of US$8.5 billion. — Reuters
Hong Kong property investors go trophy hunting in London despite Brexit: Chinese investment in London commercial property has more than trebled since before Britain voted to leave the European Union, most of it channelled through Hong Kong at a time of heightened political uncertainty in the former British colony. — Reuters
Japan’s manufacturers most optimistic in a decade as economy grows: Confidence at Japanese manufacturers rose in August to its highest level in a decade led by producers of industrial materials, a Reuters poll showed, in a further sign of broadening economic recovery. The poll found the service-sector mood fell but still remained at a relatively high level, underscoring the firmness in domestic demand which drove robust expansion in the second quarter. — Reuters
Top local stories
Nazir expects growth to ease in second half: CIMB Group Holdings Bhd chairman Datuk Seri Nazir Razak expects economic growth to ease in the second half of the year. “I think we should lower down our expectation for the second half of this year,” he said. — StarBiz
Malakoff Q2 earnings down 20% to RM103m: Malakoff Corporation Bhd reported a 20.3% decline in earnings to RM103.26mil in the second quarter and it expects results for FY17 to be affected by the revised power purchase agreement. The independent power producer said revenue rose 13.6% to RM1.73bil. Earnings per share were 2.07 sen compared with 2.59 sen. It announced a dividend of 2.5 sen a share compared with 3.5 sen a year ago. — StarBiz
PNB looking to hold less cash: Permodalan Nasional Bhd is looking to hold less cash even as it struggles to make acquisitions that would generate attractive returns. A fifth of PNB’s RM266bil of assets under management is in cash and money markets, and chairman Abdul Wahid Omar said the fund could reduce such holdings by at least five percentage points. That would free up about RM13.3bil according to Bloomberg calculations. — Bloomberg
EMAS Offshore to seek legal advice on Perisai announcement: Singapore-listed EMAS Offshore Ltd is seeking legal advice in response to Perisai Petroleum Teknologi Bhd’s recent announcement that a put option on the sale of its equity in SJR Marine to the former has been revived. — StarBiz
Malindo Air partners All-Nippon: Malindo Air has teamed up with All Nippon Airways (ANA), Japan’s largest and only 5-Star airline, to offer passengers seamless travel and connectivity when travelling between Asean and over 200 routes on ANA’s network. ANA is the fifth addition to Malindo Air’s interline partners. — StarBiz
Malaysia reiterates commitment to sustainable palm practices: Malaysia reiterates its commitment to practise the three pillars of sustainable palm oil industryto overcome various challenges in the global market, including the European Union Parliament’s resolution on palm oil and deforestation, says Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong. — Bernama
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