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Axiata, Dialog boost KLCI as consumer stocks top gainers list

KUALA LUMPUR: Investor sentiment towards Axiata turned positive after the sale of its 28.67% stake in Singapore's M1 Ltd while Dialog Group advanced after its firm earnings and upgrade by analysts.

Hyflux unveils survival plan as Singapore bondholders watch

SINGAPORE: Cash-strapped Singapore water-treatment company Hyflux Ltd. unveiled a restructuring plan that’s been highly anticipated by retail investors in the city-state, who own millions worth of the firm’s debt.

Hyflux said its Chief Executive Officer Olivia Lum and the board of directors intend to distribute their preference shares and perpetual capital securities to other holders when the proposed revamp is completed.

Axiata’s sale of M1 stake will lower debt, S&P says

KUALA LUMPUR: Axiata Group Bhd’s sale of its ts 28.67% stake in Singapore's M1 Ltd has improved its financial headroom and the sale proceeds will help cut debt, S&P Global Ratings says in a report.

DBS profit driven by loans as turmoil hurts wealth, trading

SINGAPORE: DBS Group Holdings Ltd. relied on lending to boost fourth-quarter profit as financial-market turbulence hit its trading, wealth and investment banking operations.

DBS Chief Executive Officer Piyush Gupta said in a presentation that he expects mid-single-digit loan growth and continued progress on net interest margins this year.

KLCI posts conservative gains as Asian equities rally

KUALA LUMPUR: The FBM KLCI retraced some of its earlier gains by midday but remained ahead of the previous close as global equities surged on renewed optimism.

Ringgit gets lift from higher oil prices

KUALA LUMPUR: The ringgit was higher against the US dollar in early session today on better demand for the local note, said a dealer.

Trading ideas: Axiata, Luxchem, London Biscuits, APFT

KUALA LUMPUR: JF Apex Research expects Axiata Group Bhd, Luxchem Corp Bhd, London Biscuits Bhd and APFT to see trading interest following its latest corporate news.

Oil hits 2019-high on Opec supply cuts, US sanctions on Iran and Venezuela

SINGAPORE: Oil prices rose to their highest levels in 2019 on Monday, lifted by OPEC-led supply cuts and by U.S. sanctions on Iran and Venezuela.

U.S. West Texas Intermediate (WTI) crude oil futures hit $56 per barrel for the first time this year, before edging back to $55.89 per barrel by 0051 GMT. That was still 0.5-percent above their last settlement.  International Brent crude futures hit a 2019-high of $66.61 per barrel early on Monday before easing to $66.47 per barrel, still up 0.3 percent from their last close.  For both benchmarks, those were their highest levels since November 2018.

Only fools rush in: Beware of love fraudsters

Malaysians are falling hard for online love scammers.

Scammers would try to meet their victims through social media platforms and use a caring, charming persona to gain their trust. — KAMARUL ARIFFIN/The Star

Exclusive: U.S. blocks North Korean air traffic revival ahead of Trump-Kim summit - sources

MONTREAL/SEOUL (Reuters) - The United States has blocked efforts by a U.N. agency to improve civil aviation in North Korea at a time when Pyongyang is trying to reopen part of its airspace to foreign flights, three sources familiar with the matter told Reuters.