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HNA touts assets for sale as funding crunch intensifies

BEIJING: China’s indebted HNA Group met bankers to tout the latest assets that the sprawling conglomerate is putting on the block as it looks to raise funds and stave off an intensifying cash crunch.

Embattled group: Chen Feng, co founder and chairman of the conglomerate speaking to reporters at an aviation event in Haikou, Hainan province recently. The finance-to-aviation group has been ramping up asset sales over the past year due to soaring debt and increased government scrutiny of aggressive deal-making. — Reuters

Gagason bullish on affordable housing sector

KUALA LUMPUR: Gagasan Nadi Cergas Bhd, which made an impressive debut on the ACE Market with a 30% premium on its issue price, is bullish over the affordable housing sector.

Bursa debut: Gagasan chairman Dr Muhamad Fuad Abdullah hitting the gong to mark the company’s listing ceromony on Bursa Malaysia. With him are (from left) non-execitive director Siti Naaishah, group managing director Wan Azman Wan Kamal, non-executive directors Ch’ng Boon Huat and Datuk Seri Subahan Kamal, and TA Securities Bhd executive director Datuk Hamzah Mohd Tahir.

Knight Frank sees property market sentiment improving in 2019

KUALA LUMPUR: Sentiment in Malaysia's property market is expected to improve in 2019, especially the residential property market, as policies announced under Budget 2019 are expected to strengthen demand, particularly among first-time home buyers, said property advisor Knight Frank Malaysia.

M'sian corporates, SMEs cautious as business confidence weakens

PETALING JAYA: After a weak purchasing managers’ index (PMI) cast a pall over the economy, business confidence expectations for the first half of the year has weakened among corporates and small and medium enterprises (SMEs), according to the RAM Business Confidence Index (RAM BCI).

Lee Heng Guie, the executive director of the Socio Economic Research Centre, told StarBiz that the slippage in the RAM BCI for the corporate and SME segments mirrored the general undertone of the cautious investor sentiment on the domestic economic and external conditions.  He said it is good for the government to have a contingency plan should the global slowdown become a reality eventually.