Energy
Brent crude was down 0.05% to US$43.51 per barrel at 3.42pm.
Forex
Ringgit was up 1.07% versus the US dollar at 3.49pm.
Top foreign stories
Didi to buy Uber China operations in deal valuing combined firm at US$35b: China’s dominant ride hailing firm Didi Chuxing will buy Uber Technologies Inc’s operations in China in a deal that will end bruising competition between the two firms, the Wall Street Journal reported. Bloomberg separately reported that the combined company would be valued at US$35 billion and that investors in Uber China, owned by San Francisco-based Uber, Baidu Inc and others, would receive a 20% stake in the combined company. — Reuters
China July factory activity unexpectedly dips on softer orders, flooding: Activity in China’s manufacturing sector eased unexpectedly in July as orders cooled and flooding disrupted business, an official survey showed, adding to fears the economy will slow in coming months unless the government steps up a huge spending spree. — Reuters
Asian factories face fitful activity as world sputters: Factories in China and Japan - the world’s second and third largest economies - saw scant sign of demand recovering in July, with surveys across Asia offering only crumbs of comfort after weak growth readings in the United States and Europe. — Reuters
Delphi, Singapore to launch test of self-driving taxis: Delphi Automotive Plc will launch a small test fleet of automated taxis in Singapore next year, aiming to ferry passengers around a city district in one of the first real-world tests of automated rides on demand, the company said on Monday. — Reuters
Top local stories
Coastal Contracts
taps into Indonesian LNG supply chain: Coastal Contracts Bhd is tapping into the growing liquefied natural gas (LNG) supply chain in Indonesia with the purchase of a 49% stake in T Jaya Samudra Karunia for US$6.55mil (RM27mil). — StarBiz
Bina Puri secures RM80mil contract: Bina Puri Holdings Bhd has secured a contract worth RM80mil from Arus Sutera Sdn Bhd for the Program Perumahan Rakyat in Sabah. Its unit Bina Puri Sdn Bhd will design, construct and complete 440 units of five storey walkup flats in Pitas, Sabah. — StarBiz
MMHE in the red in Q2 as heavy engineering orders slump: Malaysia Marine and Heavy Engineering Bhd (MMHE) stayed in the red in the second quarter, with net losses of RM2.56mil compared with net profit of RM18.02mil a year ago as heavy engineering orders slumped. Its revenue fell 49% to RM297.44mil from RM582.14mil a year ago. Loss per share was 0.2 sen compared with earnings per share of 1.1 sen previously. — StarBiz
Maxis to boost average revenue per unit with “Pokemon GO”: Maxis Bhd is striving to raise average revenue per unit (ARPU) for its prepaid plan, Hotlink, by introducing digital initiates involving the “Pokemon GO” game, alongside the focus on the foreign worker segment. — Bernama
KAF Investment eyes RM100m from first feeder fund: KAF Investment Funds Bhd aims to generate RM100 million from its first feeder fund, KAF Australian Islamic Property Fund, within the first six months of its launch. — Bernama
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