Members of the public will be able to replace their ATM cards at their banks for free.
Energy
Brent crude was 1.32% higher to US$54.62 per barrel at 3.15pm.
Forex
Ringgit was down 0.15% to 4.4510 sus S dollar at 3.20pm.
Top foreign stories
France’s Safran launches US$9b offer for Zodiac Aerospace: France’s Safran on Thursday launched a US$9 billion agreed cash offer worth 29.47 euros per share for aircraft seats manufacturer Zodiac Aerospace to create the world’s third largest aerospace supplier. — Reuters
HKEX proposes new board to list companies with different voting rights: Hong Kong Exchanges and Clearing Ltd (HKEX) is proposing to launch a new listing venue that would allow companies with different voting rights to go public in the city, in a bid to remain a global listings powerhouse. — Reuters
Gold under pressure as Fed’s Yellen backs gradual rate hikes: Gold prices were down on Thursday on a strong dollar after Federal Reserve chair Janet Yellen advocated lifting US interest rates gradually. Spot gold was down 0.1% to US$1,202 per ounce by 0600 GMT, after dropping to as much as US$1,197.31. The bullion hit an eight-week high of US$1,218.64 on Tuesday. — Reuters
Top local stories
Bank Negara maintains OPR at 3%: Bank Negara kept the overnight policy rate (OPR) at 3% at its Monetary Policy Committee meeting on Thursday, in line with economists’ view that the central bank would maintain the key benchmark rate at the current level after a 25 basis point cut in July last year. — StarBiz
Vehicle sales down 13% last year: Vehicle sales in Malaysia fell 13% year-on-year to 580,124 units in 2016, the first decline after six consecutive years of growth. Malaysian Automotive Association president Datuk Aishah Ahmad attributed the weaker sales to the moderating economy, lower consumer spending and cautious business sentiment. — StarBiz
StanChart and Allianz in Asian bancassurance tie-up: Standard Chartered Bank (Stanchart) and Allianz have signed a 15-year bancassurance agreement. The pact covers the distribution of Allianz’s general insurance products to StanChart’s retail banking clients in five key markets across Asia. — Bernama
MICCI voices out againt DBKL’s new ruling: The Malaysian International Chamber of Commerce (MICCI) has voiced concern over Kuala Lumpur City Hall’s (DBKL) requirement that all foreign-owned businesses have a minimum 50% local equity and workforce. — Bernama
Shell Refining board advises minorities to reject Malaysia Hengyuan offer: The board of Shell Refining Company (Federation of Malaysia) Bhd and the independent adviser have advised the minority shareholders to reject the takeover offer from Malaysia Hengyuan International Ltd. — StarBiz
Limited time offer:
Just RM5 per month.
