Top foreign and local stories at 4pm


  • Business
  • Monday, 13 Feb 2017

Energy

Brent crude was o.37% lower at US$56.49 per barrel at 3.23pm.

Forex

Ringgit down o.o7% to 4.4473 at 3.17pm.

Top foreign stories

China’s top developers plan to invest more in land this year: Chinese real estate developers surveyed by Reuters mostly plan to increase their land investments in 2017 as they shrug off record prices and government tightening measures while seeking to expand their market share. — Reuters

Why Trump can’t bully China: The US cannot “win” a trade war with China, and any victory will be Pyrrhic. The US needs to negotiate hard with China to protect its friends in Asia and deal with the rogue state of North Korea. - Project Syndicate

Top local stories

PTPTN announnces 4% dividend for SSPN-I, SSPN-I Plus: The National Higher Education Fund (PTPTN) has announced a 4% dividend for the education savings scheme SSPN-i and SSPN-i Plus for 2016. Chairman Datuk Dr Shamsul Anuar Nasarah said the dividend involves an allocation of RM76.74 million which will be paid starting from this month. — Bernama

Bumi Armada FPSO vessel to generate fresh cash flow: The first oil production through Bumi Armada Bhd’s Olombendo floating production storage and offloading (FPSO) vessel at the East Hub Development Project, off Angola shores, is expected to generate fresh cash flow to the company from mid-February. - StarBiz

Tecnic Group minority shareholders advised to reject Rohas-Euco offer: Tecnic Group Bhd’s minority shareholders have been advised to reject the takeover offer of 63 sen per share from Rohas-Euco Holdings Sdn Bhd. The independent board of Tecnic Group concurred with the independent adviser Mercury Securities Sdn Bhd that the offer as “not fair” and “not reasonable”.

Malaysia’s Q4 real GDP growth forecast 4.7%: Maybank Investment Bank Research estimates that the real gross domestic product growth for the fourth quarter of 2016 was 4.7% on-year, implying  a 4.3% full-year growth. The research house said on Monday that this forecast was slightly above its full-year estimate of 4.2%. - StarBiz

January stockpiles will support Q1 CPO prices at RM3,000: The Malaysian Palm Oil Board said that January 2017 stockpile, the lowest January level in six years, will continue to be supportive of 2Q17 CPO prices at around RM3,000 per tonne, said Maybank Investment Bank Research.
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