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Corporate News 10h ago

Leong Hup’s much-awaited return to the stock market

IT was in February last year when Tan Sri Francis Lau Tuang Nguang – dubbed the “chicken king” – first revealed to StarBiz his plan to relist the company his family co-founded – Leong Hup International Bhd – by 2019 or 2020.

Corporate News 7h ago

Ringgit seen to trade lower against US$ next week

KUALA LUMPUR: The ringgit is likely to trend lower against the US dollar next week, mainly weighed by prospects of higher US interest rates.

FXTM Research Analyst Lukman Otunuga said with the US dollar heavily supported by the interest rate hikes expectations, the ringgit had the scope to trade towards the 4.17 level against the greenback in the near term.  "Other than that, external factors in the form of trade war worries and global growth concerns also present downside risks to the ringgit," he said.
Corporate News 1d ago

Datasonic says no payment made to Ahmad Zahid

KUALA LUMPUR: Datasonic Group Bhd has refuted a news report alleging that it had issued payment to Datuk Seri Ahmad Zahid Hamidi over the supply of 12.5 million chips for the Malaysian passport.

Markets 1d ago

MyEG, Datasonic face furious selldown; telcos lead KLCI lower

KUALA LUMPUR: MyEG Services Bhd and Datasonic Group Bhd saw a steep selloff in late-morning trade on news that the companies had been implicated in graft charges against former deputy prime minister Datuk Seri Ahmad Zahid Hamidi.

Forex 1d ago

Ringgit hits lowest in nearly a year, undervalued among Asian peers

KUALA LUMPUR: The ringgit fell to the lowest in almost a year early Friday after Malaysia cut its economic growth target and scrapped plans to balance the state budget by 2020.

The ringgit is among Asian FX that are undervalued, which helps to explain why it’s been more resilient amid the sell-off in regional currencies, according to a Bank of America Merrill Lynch note.
Corporate News 1d ago

MACC not investigating MyEG over charges against Zahid (updated)

KUALA LUMPUR: My EG Services Bhd said the anti-graft agency has confirmed the company and its directors are not being investigated over corruption charges against former Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi.

Construction 10h ago

Construction settles down on commencement of major projects

THE construction sector, which has been volatile over the last few weeks, has now calmed down after the government announced that it is proceeding with the light rail transit 3 (LRT3) project and the Klang Valley Mass Rapid Transit (MRT2), but at a reduced cost.

Corporate News 16 Oct 2018

Trading of Barakah Offshore halted for corporate news

KUALA LUMPUR: Trading in the securities of Barakah Offshore Petroleum Bhd was suspended in the afternoon session on Tuesday.

Banking 21h ago

CIMB appoints Nasir to succeed Nazir as chairman

KUALA LUMPUR: CIMB Group Holdings Bhd said it has received approval from Bank Negara to appoint Datuk Mohd Nasir Ahmad as new chairman effective Saturday.