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Forex 21h ago

Ringgit lower against US$ on global growth and oil price worries

KUALA LUMPUR: The ringgit was lower against the US dollar early Tuesday on concerns over slowing global growth and weaker oil prices.

At 9.11 am (0111 gmt), the local note stood at 4.1770/1810 against the US dollar from 4.1700/1750 at Monday's close.
Corporate News 53m ago

Huawei clash shows deeper US-China battle for global influence

HONG KONG: The Trump administration has insisted the arrest of a top Huawei executive has nothing to do with trade talks. In Beijing, it’s just the latest US move to contain China’s rise as a global power.

Bail hearings proceeded this week after Meng Wanzhou(pic), the chief financial officer of Huawei Technologies Co, was arrested in Canada on Dec 1 because of alleged violations of US sanctions against Iran. The case threatens to derail a trade truce struck the same day between Donald Trump and Xi Jinping.
Corporate News 16h ago

Petronas expects volatile oil prices to continue

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) expects the volatile oil prices to persist in 2019 and it is cautiously optimistic particularly on new capital projects.

Corporate News 18h ago

Lower LTAT dividend due to volatile local equities market

KUALA LUMPUR: The lower dividend from the Armed Forces Fund Board (LTAT) for three consecutive years since 2015 was due to the decline in dividend income received from LTAT's investment in companies and the sale of equities following the volatile domestic equity market, said Defence Minister Mohamad Sabu.

Defence Minister Mohamad Sabu: “For the past three years (2015-2017), LTAT's income from investment dividends and shares trading activities was affected due to the volatility in the local share market."
Corporate News 17h ago

Top Apple suppliers post solid sales as iPhone concerns persist

TAIPEI: Apple Inc.’s two largest Asian suppliers unveiled decent jumps in monthly revenue, potentially assuaging investors who fear the worst about iPhone demand.

Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co. both posted a 5.6 percent rise in November sales.
Corporate News 1d ago

Chinese state media distance Huawei arrest from US trade talks

BEIJING: Chinese state media on Monday denounced the arrest of a top executive at tech giant Huawei , but did not link it to talks to resolve a trade dispute with the United States, an apparent effort not to undermine prospects for a deal.

Senior White House administration officials on Sunday insisted that Canada's arrest of Huawei Chief Financial Officer Meng Wanzhou on a U.S. extradition request was solely a law enforcement matter that would not derail talks with China.
Corporate News 16h ago

Private equity-owned firms behind Asia high-yield corporations, says Moody's

KUALA LUMPUR: Asian high-yield corporates owned by private equity firms benefit from strong margins despite high leverage, says Moody's Investors Service.

CVC Capital Partners Asia Fund IV acquires 100% stake in Munchy Food Industries Sdn Bhd.
Stock on the Move 22h ago

Prestariang shares continue to slide after SKIN contract loss

KUALA LUMPUR: Shares in Prestariang Bhd continued to slide in early trade in the wake of cancellation of the RM3.5bil national immigration control system (SKIN) concession.

Corporate News 1d ago

Prestariang tumbles 16% as Home Ministry confirms cancellation

KUALA LUMPUR: Shares of Prestariang Bhd fell to a a multi-year low of 37 sen at midday on Monday as the Home Ministry confirmed the Immigration Department's RM3.5bil national immigration control system (SKIN) concession has been cancelled.