Latest
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Corporate News
YTL-REIT’s earnings to be enhanced by AC Hotels
YTL Hospitality Real Estate Investment Trust’s (YTL-REIT) bottom line will be enhanced following rental adjustments made for AC Hotels.
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Insurance
US home insurance ‘bubble’ close to popping
Home insurance costs that have soared in much of the United States may get even higher.
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Markets
Wall St set for higher open as yields slip ahead of Fed rate verdict
U.S. stocks were set to rise at open on Wednesday as Treasury yields retreated ahead of a likely pause in the Federal Reserve's policy tightening campaign, though concerns over rates staying higher for longer kept investor sentiment in check.
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Property
The Exchange TRX set to open in November 2023
KUALA LUMPUR: Lifestyle hub The Exchange TRX, which sits at the nucleus of Kuala Lumpur’s new international financial district, will open its doors to visitors on Nov 29, 2023.
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Business
Ahmad Maslan: MoF analysing feedback, proposals for Budget 2024
KUALA LUMPUR: The Ministry of Finance (MOF) is analysing new proposals and suggestions from several parties for inclusion in Budget 2024 before it is tabled on Oct 13, 2023, said Deputy Finance Minister I Datuk Seri Ahmad Maslan.
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Forex
Ringgit ends higher vs US dollar ahead of FOMC decision
KUALA LUMPUR: The ringgit ended higher against the US dollar today ahead of the US Federal Open Market Committee (FOMC) interest rate decision due later tonight.
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Corporate News
Daud Ahmad ceases to be Cypark's substantial shareholder
KUALA LUMPUR: Cypark Resources Bhd co-founder and chief executive officer Datuk Daud Ahmad has ceased to be a substantial shareholder of the renewable energy company.
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SME
SME Corp channels RM100mil to aid 20,700 MSMEs
PUTRAJAYA: SME Corporation Malaysia (SME Corp) has channelled RM100 million via the Micro Madani Strengthening Programme (Micro Madani) to help 20,700 entrepreneurs nationwide from the micro, small and medium enterprise (MSME) sector.
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Energy
Malaysia’s largest renewable energy power plant commences operation
KUALA LUMPUR: Malaysia’s largest renewable energy power plant at Bukit Tagar Enviro Park (BTEP), Hulu Selangor, Selangor with a capacity of 12 megawatts (MW) has commenced operations.
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Corporate News
Capital A's ADE partners with Sivilai Asia for Cambodia MRO venture
KUALA LUMPUR: Capital A Bhd’s wholly owned subsidiary, Asia Digital Engineering Sdn Bhd (ADE) has entered into a shareholders agreement (SHA) with Sivilai Asia Co Ltd to establish a maintenance repair and overhaul (MRO) business in Cambodia.
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Corporate News
EcoWorld International heads towards RM1.4bil sales target
KUALA LUMPUR: Eco World International Bhd (EcoWorld International) has achieved RM1.003bil sales plus reserves of RM157mil in the first 10 months of the financial year ending Oct 31, 2023 (FY23), adding up to a total of RM1.16bil.
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Markets
KLCI ends lower for third straight day
KUALA LUMPUR: The FBM KLCI finished lower on Wednesday, its third straight session in negative territory as markets awaited a decision on interest rates by the US Federal Reserve.
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Economy
Asean ties seen as key to region
MORE efforts are needed to enhance cooperation between China and the Association of Southeast Asian Nations in industrial and supply chains for accelerated regional development, government officials and industry experts said during the 20th China-ASEAN Expo, or CAEXPO.
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Forex
Thai baht, stocks hit multi-month lows on high oil prices
THE Thai baht, stocks and bonds slid to multi-month lows under foreign selling pressure on Wednesday, with investors worried that high oil prices and government spending plans would widen the Southeast-Asian nation's current account deficit.
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Aviation
Qantas ex-CEO Alan Joyce to get tenfold higher pay of US$13.8mil for 2023
AUSTRALIA'S Qantas Airways said on Wednesday it would pay Alan Joyce, its former CEO who retired earlier this month, a remuneration of A$21.4 million ($13.8 million) for fiscal 2023, a near 10-fold jump from last year.
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Markets
Stocks stalled as oil surge sets stage for longer US rate peak
SINGAPORE: Stocks struggled for headway on Wednesday while U.S. yields stood at or near decade highs along the curve as surging oil prices stoked inflation and set the scene for the Federal Reserve to project interest rates staying higher for longer.
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Corporate News
Arm closes IPO, full exercise of underwriters' option to purchase ADSS
KUALA LUMPUR: Arm Holdings plc (Arm) announced the closing of its initial public offering (IPO) of 102.5 million American depositary shares (ADSs), representing its ordinary shares, at a price to the public of US$51.00 per ADS. (US$1=RM4.69)
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Corporate News
US Customs lifts import ban on Supermax gloves
KUALA LUMPUR: The import ban on Supermax Corp Bhd's disposable gloves in the US has been lifted following the remediation of forced labour indicators in the company's supply chain.
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Economy
UK inflation unexpectedly falls, raising questions about BoE rates plan
LONDON: British annual consumer price inflation (CPI) unexpectedly fell to 6.7% in August, official data showed on Wednesday, raising questions about how much higher the Bank of England will take interest rates a day before its next policy announcement.
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Corporate News
Scientex posts net profit of RM114.89mil in 4Q as packaging demand slows
KUALA LUMPUR: Scientex Bhd recorded a weaker bottomline in the final quarter of its 2023 financial year as its packaging business experienced softer market demand across its product segments.
