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Difficult year ahead for Asia-Pacific financial firms

MELBOURNE: Potentially higher interest rates as well as volatile domestic currencies, bond markets, and property prices, would make financing conditions more difficult for Asia-Pacific financial institutions in 2019, according to S&P Global Ratings.

“Last year, only 7% of our pool of rated banks in Asia Pacific were either upgraded or downgraded. As of Dec. 31, 2018, the median rating across the portfolio of over 200 rated banks remained unchanged from a year ago at ‘A-’, with about 87% of our bank ratings at ‘BBB-’ or higher,” S&P Global Ratings said.

Goldstar’s legal claim puts DRB-Hicom under pressure

PETALING JAYA: Just a couple of weeks into 2019, shares of DRB-Hicom Bhd have come under pressure following a legal claim amounting to RM523mil by China-based Goldstar Heavy Industrial Co Ltd over a termination of a joint venture with Proton.

Negative impact: DRB-Hicom headquarters in Shah Alam. Analysts say the legal suit by Goldstar may have a negative impact on DRB-Hicom’s bottom line.

GSK chairman Hampton to step down ahead of split

BENGALURU: GlaxoSmithKline Plc (GSK) chairman Philip Hampton will step down after more than 3½ years in the role, as Britain’s biggest drugmaker prepares to split its business into two.

SilTerra sets sights on automotive industry

PETALING JAYA: Khazanah-owned SilTerra Malaysia Sdn Bhd, which specialises in the manufacture of semiconductor chips for integrated circuit (IC) design companies, is eyeing big opportunities within the booming automotive industry.

New venture: SilTerra’s plant in Kulim Hi-Tech Park. The company expects its tie-up with Beijing Yandong Microelectronics Co to help open doors to other China projects.