Ganeshwaran Kana

Recent and archived articles by Ganeshwaran Kana

17 May 2019 | 7:00 AM

Economy grows 4.5% in first quarter

KUALA LUMPUR: Malaysia’s economy performed above expectations in the first quarter of 2019 (1Q19) and the country’s foreign investments staged a strong improvement, amid elevated external challenges. However, despite these positive developments, more warnings signs on the economy have begun to crop up.

Malaysia's Economic Performance Chart. Source: Department of Statistics Malaysia.
16 May 2019 | 12:09 PM

Economy expands by 4.5% in Q1 of 2019, above forecast

KUALA LUMPUR: The economy expanded by 4.5% at in the first quarter of March 31, 2019 (Q1 2019), which was slightly above economists' forecast of 4.3%, underpinned by services and manufacturing.

15 May 2019 | 7:00 AM

Higher loan growth can offset impact of rate cut

KUALA LUMPUR: Banks in Malaysia will benefit from the recent cut in the overnight policy rate (OPR) if the move results in a higher loan growth, according to AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir (pic).

Sulaiman also hinted that AmBank will be lowering its base rate by this week, following the lending rate cuts by other major banks in the country.
14 May 2019 | 7:00 AM

AmInvestment Bank: Bursa Malaysia may stage major comeback

PETALING JAYA: Bursa Malaysia may be the underdog among key Asian stock markets at the moment, but the stock exchange could stage a major comeback over the next seven months.

AmInvestment Bank Research analyst Joshua Ng expects the FBM KLCI to hit 1,820 points by end-2019, potentially rising by over 13% from the current level of 1,601.09 points on May 13.
11 May 2019 | 7:00 AM

Economists give the thumbs up

The Pakatan Harapan government has just completed its first year in office on May 9, but the “New Malaysia” euphoria has started to fade away, faster than expected.

9 May 2019 | 7:00 AM

OPR cut affects BIMB, Alliance Bank the most

PETALING JAYA: The profitability of banks in Malaysia will be negatively affected in the short term following the recent cut in the overnight policy rate (OPR), with banks with higher floating rate loans being impacted the most.

8 May 2019 | 7:00 AM

Limited impact seen from Bank Negara's rate cut

PETALING JAYA: Bank Negara’s decision to cut the benchmark interest rate may have limited impact on borrowing cost as several banks in the country have raised their lending rates prior to the central bank’s announcement.

Alliance Bank chief economist Manokaran Mottain told StarBiz that the rate cut by Bank Negara came earlier than expected, signalling the country’s weak economic outlook.
3 May 2019 | 7:00 AM

Malaysian business and households borrowing less

PETALING JAYA: New loan applications by Malaysian businesses and households have been continuously falling over the past few months, indicating a weakening sentiment in the domestic economy.

1 May 2019 | 7:00 AM

Govt bonds downgraded

PETALING JAYA: DBS Research has downgraded Malaysian government bonds to “neutral”, even as the local debt papers rank as the third-best performer among Asian emerging markets year-to-date.

In a research note issued yesterday, DBS Research attributed the rating downgrade to Malaysian government bonds’ rising valuation and mounting risk.
30 Apr 2019 | 7:00 AM

PetChem plans RM2.7b capex

KUALA LUMPUR: Petronas Chemicals Group Bhd (PetChem) plans to spend RM2.6bil to RM2.7bil in capital expenditure (capex) this year, with the bulk of it allocated for its targeted plant turnaround exercise and to finance the group’s growth strategies.