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Metro News

Honouring a Malaysian hero

HUMAN Resources Minister M. Kulasegaran has paid tribute to VT Sambanthan for his contribution towards Indian society and the independence of then Malaya.

Markets

Tenaga, telcos weigh down KLCI, banks rebound

KUALA LUMPUR: Bursa Malaysia resumed its slide in Friday morning trade as Asian equity slid to yearly lows as the US trade war threatened to erode corporate profits.

Construction

MRT Corp, CEP discuss reducing MRT 2 costs

KUALA LUMPUR: MRT Corp is finding ways to reduce the cost for the Mass Rapid Transit 2 (MRT2) project.

Corporate News

RAM Ratings reaffirms AmMortgage One's RM339m notes at AAA

KUALA LUMPUR: RAM Rating Services Bhd has reaffirmed the AAA/Stable rating of AmMortgage One Bhd’s RM339.38mil medium-term notes (MTN) (first notes series).

Forex

Mahathir says ringgit’s fair value at 3.8, same as Asia crisis peg

KUALA LUMPUR: Prime Minister Tun Dr Mahathir Mohamad said the ringgit’s fair value today is the same as the peg that his previous government established in 1998 in a controversial move during the Asian financial crisis.

Business

Mahathir seeks to recover RM18bil of 1MDB funds, Goldman Sachs fees

KUALA LUMPUR: Malaysia will seek to recoup US$4.5bil (RM18bil) of funds that were potentially lost through 1MDB, as well as fees paid to Goldman Sachs Group Inc., according to Prime Minister Tun Dr Mahathir Mohamad.

Nation

HRDF chief Vignaesvaran resigns amidst allegations

KUALA LUMPUR: Human Resource Development Fund (HRDF) chief executive officer Datuk Vignaesvaran Jeyandran has tendered his resignation effective June 21.

Nation

Zeti on Nor Shamsiah as Bank Negara governor: She will hit the ground running

KUALA LUMPUR: Datuk Nor Shamsiah Mohd Yunus’ appointment as the new Bank Negara Malaysia (BNM) governor is an excellent decision, says former governor Tan Sri Dr Zeti Akhtar Abdul Aziz.

Markets

KLCI barely snaps nine-day losing streak, Public Bank lifts

KUALA LUMPUR: Blue chips barely managed to snap the nine straight days of losses on Friday, underpinned by Public Bank, IHH and Digi but the overall mood of investors was still cautious following the heavy foreign selling since the May 9 general elections.

Nation

Penang Forum raises concerns over state Transport Master Plan

KUALA LUMPUR: The Penang state government should engage an independent global agency to review mega infrastructure projects in the state including the proposed Penang Transport Master Plan (PTMP), said Penang Forum.