Several flights have had to return to Australia in recent months, including an AirAsia Gold Coast to Kuala Lumpur service last month that the carrier said involved a suspected bird strike. - AFP
Energy
Brent crude was 0.45% higher to US$56.04 per barrel at 3.44pm.
Forex
Ringgit up 0.11% to 4.2275 versus the US dollar at 3.55pm.
Top foreign stories
Qantas raising A$350m in loan, allows switching aircraft types used as collateral: Qantas Airways is raising A$350 million (US$272 million) from a loan that allows it to switch the types of aircraft used as collateral, in what bankers and analysts said is the world’s first aviation financing of this type. — Reuters
Australia business activity holds strong despite retail woes: A measure of Australian business conditions held at its highest since early 2008 in September, with strength in construction and mining lifting sales and profits even as the retail sector struggles with cautious consumers. — Reuters
Gunvor CEO: Opec can’t ”afford to letup” as 2018 supplies rise: The oil market is rebalancing but Opec cannot ”afford to letup” on its production cuts in the face of rising non-Opec supplies next year, trading house Gunvor’s chief executive officer Torbjorn Tornqvist said. — Reuters
Chinese firms rush to hedge as yuan swings begin to sting: Hobbled by the yuan’s unexpected surge this year, more Chinese companies are trading currency derivatives to hedge risks, although many mainland firms remain exposed to swings in China’s increasingly volatile currency. — Reuters
Japan carmakers enjoy cruise in China fast lane: Japan’s top carmakers are enjoying strong growth in China, the world’s top auto market, bucking concerns about a slowdown in the market after tax incentives were cut back this year. Toyota Motor Corp and Honda Motor Co said on Tuesday vehicle sales in China grew close to 15% in September, after strong sales in August. Nissan Motor Co Ltd posted similar growth on Monday. — Reuters
Singapore central bank expected to keep policy unchanged in October as inflation subdued: Singapore’s central bank is expected to keep monetary policy unchanged at its semiannual review this week as inflation remains subdued, but improving economic momentum could open the way for a tightening in 2018. - Reuters
Kobe Steel scandal threatens confidence in Japanese manufacturing: Kobe Steel Ltd triggered an industrial scandal that reverberated across Asia’s second-largest economy on Tuesday after saying it falsified data related to strength and durability of some aluminum and copper products to make them look as if they met client quality standards.
Top local stories
Thailand’s Charoen eyes control of KFC chain in Malaysia: A group controlled by Thailand’s third richest man, Charoen Sirivadhanabhakdi, is said to be looking at taking control of the Kentucky Fried Chicken and Pizza Hut restaurant chain in Malaysia. A source said the tycoon is looking to aquire a 51% stake from QSR QSR Brands (M) Holdings Sdn Bhd shareholders, the Employees Provident Fund (25%) and CVC Capital Partners (24%) and Johor Corp (2%). — StarBiz
KNM UK unit awards RM1.9b project to China Western Power: KNM Group Bhd‘s UK unit Peterborough Green Energy Ltd has awarded a £346mil (RM1.9bil) contract to China Western Power Industrial Co Ltd to build a energy-from-waste power plant. — StarBiz
Mega First unit secures RM634m loan for Laos hydro power project: Mega First Corporation Bhd unit Mega First Investments (L) Ltd has secured loan facilities totalling US$150mil or RM634.87mil to part finance the building of its Don Sahong hydropower project in Laos. — StarBiz
Business confidence among Malaysian firms improves for the third consecutive quarter: Business sentiment among Malaysian companies improved further for the third consecutive quarter in the fourth quarter, reaching its new peak in six consecutive quarters, says Dun & Bradstreet Malaysia. — StarBiz
Vizione gets RM465m contract to build affordable homes, shoplots: Vizione Holdings Bhd has secured a RM465mil contract Hektar Aneka Sdn Bhd to build 2,400 affordable units in five blocks and 14 shoplots in Setapak, Selangor. — StarBiz
Bursa caps Sunway-WB price after surge: Bursa Malaysia has capped the upper limit for Sunway Bhd
’s warrants (Sunway-WB) on Tuesday after it surged for two consecutive days. The regulator said on Tuesday the upper limit was 60.6 sen. — StarBiz
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