IOI Corp expects operating environment to remain challenging

PETALING JAYA: IOI Corp Bhd expects the foreign exchange (forex) rate to remain volatile during the next three months and anticipates the risk of it strengthening further to be lower, in light of the potential pause in the increase of US treasury rates.

In a filing with Bursa Malaysia, the group said the dollar-ringgit exchange rate that affects the forex translation gain/ loss arising from its US dollar-denominated borrowings, had strengthened to around 4.60 level in May.