The Malaysian Pulse
Beat of the Nation
Fri, 18 Oct 2019, 4:19 AM
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Penang expects GDP to exceed RM100 bil with Smart Trade Facilitation hub
GEORGE TOWN (Oct 17): Penang’s Gross Domestic Product (GDP) is expected to surpass RM100 billion in the next few years following the State Government’s move to set up a Smart Trade Facilitation hu...
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PM: Govt to study rail system and emulate Tokyo Station's efficiency
KUALA LUMPUR (Oct 17): The Government will undertake a study on how to ensure Malaysia's rail system is fully utilised.
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MARA digital malls in two States closed due to low sales
KUALA LUMPUR (Oct 13): The operation of MARA digital malls in two States have been halted due to low sales, the Ministry of Rural Development (KPLB) said today.
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Stocks, sterling rise on long-awaited Brexit deal
LONDON, Oct 17 — A deal on Britain’s departure agreed with the European Union sent sterling to a five-month high today and hoisted European stocks to a year-and-a-half peak before doubts about UK ...
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IMF chief hopes ‘the will holds’ for a Brexit deal
WASHINGTON, Oct 17 — IMF chief Kristalina Georgieva welcomed news that Britain has reached a deal to leave the European Union but cautioned today the details remain to be seen.
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Brexit deal will minimise short-term economy hit, says Irish finance minister
WASHINGTON, Oct 17 — The Brexit deal struck by Britain and the rest of the European Union will minimise much of Brexit’s short-term impact on the economies of Ireland and Northern Ireland, Irish F...
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Avillion plans private placement to raise up to RM22.7m and issue free warrants
KUALA LUMPUR (Oct 17): Avillion Bhd plans to raise up to RM22.67 million via a private placement involving up to 20% of its total number of issued shares to independent third party investors to be ide...
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Selangor Dredging’s RM71m land disposal in Damansara Heights falls through
KUALA LUMPUR (Oct 17): Selangor Dredging Bhd’s proposed disposal of 16 pieces of freehold land in Damansara Heights for RM71 million has fallen through.
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Dollar slips as euro bounces on Brexit deal; sterling volatile
NEW YORK, Oct 17 — The US dollar fell against the euro today as the common currency got a lift from the European Union and Britain striking a long-awaited Brexit deal.
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Auditor of Multi-Usage issues qualified opinion on financial statement
KUALA LUMPUR (Oct 17): The external auditor of Multi-Usage Holdings Bhd (MUH), Messrs UHY, has deemed the company’s financial statement as at 30 June 2019, to be a true and fair account except for t...
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PEPS: Unfair to have same maintenance rate for mixed developments
PETALING JAYA (Oct 17): Imposing a flat maintenance rate for mixed-use strata developments will result in inequity and complications, said the Association of Valuers, Property Managers, Estate Agents ...
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Doha-Langkawi: MAHB offers one-year landing fee waiver to Qatar Airways
LANGKAWI (Oct 17): Malaysia Airports Holdings Bhd (MAHB) will offer a landing fee waiver for one year to Qatar Airways with the launch of flights to Langkawi via Penang from Doha.
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Green Packet sees 4.05% stake traded off market
KUALA LUMPUR (Oct 17): Green Packet Bhd saw 37 million shares representing a 4.05% stake in the company traded off-market today.
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Five-minute ruling to prevent congestion, not to generate more revenue: MAHB
KUALA LUMPUR (Oct 17): The implementation of the five-minute waiting time ruling for all e-hailing drivers at the Kuala Lumpur International Airport (KLIA) is meant to prevent any potential congestion...
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Wall Street opens higher on Brexit deal, earnings cheer
NEW YORK, Oct 17 — US stocks opened higher today, as worries over geopolitics eased after Britain struck a preliminary last-minute deal with the European Union, with sentiment also boosted by upbeat...
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Perak Corp's unit defaults on RM280 mil syndicated loan repayment
KUALA LUMPUR (Oct 17): Animation Theme Park Sdn Bhd (ATP), a 51%-owned unit of loss-making Perak Corp Bhd (PCB), has defaulted on its repayment of a syndicated term loan facility of up to RM280 millio...
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In wake of Delta deal, Qatar Airways says could consider raising LATAM stake
LANGKAWI, Malaysia (Oct 17): Qatar Airways CEO Akbar al-Baker said his airline would consider lifting its 10% stake in LATAM Airlines Group SA if the opportunity came up — comments which come after ...
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EVENING 5: Five things you need to know today
Dirty dealings. Corporate battles.
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Stock market tunes in to Netflix after subscriber bounce
NEW YORK, Oct 17 — Wall Street cheered a rebound in Netflix subscribers in the third quarter, driving shares in the firm 9 per cent higher today even as analysts warned conservative estimates for th...
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Berlin blames trade wars and Brexit for falling growth prospects
BERLIN, Oct 17 — Germany today slashed its growth outlook for next year, saying it expects trade conflicts, Brexit and other sources of uncertainty abroad to continue weighing on an economy that rem...
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Environmentalists slam banks over Aramco IPO support
LONDON, Oct 17 — Banks aiding a stock market float for Saudi oil giant Aramco will be “devoid of all sincerity” regarding environmental and social concerns, green and rights groups jointly said ...
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Malaysia working to clear hundreds of plastic waste shipments at ports —...
KUALA LUMPUR (Oct 17): Malaysia is negotiating with countries sending their plastic waste to the Southeast Asian nation to take back the trash and is waiving storage fees to clear hundreds of containe...
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Malaysia orders China map cut from 'Abominable' film as furore widens
KUALA LUMPUR (Oct 17): Malaysia's film censors have ordered a scene removed from the animated movie "Abominable" which shows China's "nine-dash line" in the South China Sea, an official said on Thursd...
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DFIs merger won’t impact entities’ ratings, says RAM
KUALA LUMPUR (Oct 17): The proposal to merge SME Bank, Bank Pembangunan Malaysia Bhd, Exim Bank Malaysia (MEXIM) and Danajamin Nasional Bhd into a new financial institution is not expected to affect t...
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Futures rise on Brexit deal; Netflix, Morgan Stanley earnings adds to cheer
NEW YORK, Oct 17 — Wall Street was set for a higher open today, after Britain struck a preliminary last-minute deal with the European Union helping to ease some geopolitical jitters, while upbeat ea...
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Saudi Arabia plans bumper Aramco IPO, relying on easy loans and rich locals
RIYADH, Oct 17 — Saudi Arabia is setting the stage for a blockbuster listing of state oil giant Saudi Aramco in Riyadh, relying on easy credit for retail investors and pushing rich locals to invest ...
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Morgan Stanley profit beats estimates on bond trading strength
NEW YORK, Oct 17 — Morgan Stanley beat estimates for quarterly profit today, buoyed by higher revenue from bond trading and M&A advisory fees.
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AEON Mall Kinta City lifts KIP REIT Q2 income
KUALA LUMPUR: KIP Real Estate Investment Trust (KIP REIT), the first community-centric retail REIT listed on Bursa Malaysia, said its income in the first quarter ended...
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RTS to proceed, but will take some time – PM
KUALA LUMPUR (Oct 17): Prime Minister Tun Dr Mahathir Mohamad confirms today that the government will proceed with the Johor Bahru-Singapore Rapid Transit System (RTS) project, but says “it will tak...
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NTP 2019: Private sector encouraged to propose and invest in railway, says PM
KUALA LUMPUR (Oct 17): Prime Minister Tun Dr Mahathir Mohamad has suggested that the private sector come up with railway proposals, as well as to invest in or rent existing railway infrastructure give...
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Malaysia's A-G says no negotiation to drop charges against Goldman Sachs
KUALA LUMPUR (Oct 17): Malaysia's Attorney General Tan Sri Tommy Thomas said there are no plans to drop charges against Goldman Sachs and its directors as part of a settlement with the US investment b...
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S&P Global puts Malaysia’s banking sector in Group 4
KUALA LUMPUR (Oct 17): S&P Global Ratings has classified Malaysia’s banking sector as “Group 4” under its Banking Industry Country Risk Assessment.
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KIP REIT NPI rises 36%, declares 1.37 sen distribution
KUALA LUMPUR (Oct 17): KIP Real Estate Investment Trust (KIP REIT)’s net property income jumped 36% to RM13.5 million for the first quarter ended Sept 30, 2019, (1QFY20) from RM9.94 million in the p...
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Opposition head tells 'uninterested' PH MPs to quit after lack of reps halt...
KUALA LUMPUR (Oct 17): Dewan Rakyat Opposition head Datuk Seri Ismail Sabri Yaakob has told Pakatan Harapan (PH) MPs to quit if they are not interested in attending Parliament sittings, after proceedi...
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Ringgit ends higher on renewed Brexit optimism
KUALA LUMPUR, Oct 17 — The ringgit ended higher today following renewed optimism in the foreign exchange market after the United Kingdom and the European Union have agreed on a new Brexit deal, said...
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Minister: Madrid Protocol will facilitate international trademark registration for Malaysian entrepreneurs
KUALA LUMPUR, Oct 17 — The Trademarks Act 2019 which was passed by Parliament in July, allowed the nation to join the Madrid Protocol to enable local entrepreneurs to register their product brands i...
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KLCI closes off day low on Sime Plant, IOI Corp's gains
KUALA LUMPUR: Blue chips closed off their intra-day low on Thursday, underpinned by gains in Sime Plantation and IOI Corp as crude palm oil (CPO) prices inched up.
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Malaysia, Goldman discuss dropping 1MDB charges
KUALA LUMPUR: Malaysia is open to more talks with Goldman Sachs after having two rounds of discussions to drop criminal charges against three units of the bank over...
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Politics and Policy: After Sabah recognises UEC, will Putrajaya be next?
SO the Sabah government has recognised the Unified Examination Certificate (UEC) of Chinese independent secondary schools.
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Politics and Policy: Syed Husin’s outburst reflects growing frustration
TUN Dr Mahathir Mohamad would have his reasons for not making public a definite date for handing over the premiership to Datuk Seri Anwar Ibrahim.
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FBM KLCI ends on tepid note as no news on US-China trade deal
KUALA LUMPUR (Oct 17): The FBM KLCI closed 0.03% or 0.4 points lower to 1574.50 as the broader market was mostly lukewarm today, in line with the region, on a lack of updates on the US-China trade dea...
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Former FIC CEO denies implicating Isa Samad
KUALA LUMPUR (Oct 17): Felda Investment Corp Sdn Bhd (FIC) ex-chief executive officer (CEO) Mohd Zaid Abdul Jalil denied at the High Court here today that he had during his remand in August 2017, impl...
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Taiwan's IDB hopes to foster further cooperation with Malaysia
KUALA LUMPUR (Oct 17): Taiwan’s Industrial Development Bureau (IDB) hopes to further develop economic collaboration with Malaysia in line with its newly-created southbound policy of becoming less de...
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Widad Group to take over RM861.6m UiTM concession via Serendah Heights buy
KUALA LUMPUR (Oct 17): Widad Group Bhd, which is principally involved in construction and integrated facilities management, is forking out RM95.89 million to take up a 90% stake in Serendah Heights Sd...
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Only healthy foreign workers can work in Malaysia — Dr Dzulkefly
KUALA LUMPUR (Oct 17): Only foreign workers who are confirmed healthy and free from any dangerous or contagious diseases will be allowed to work in Malaysia and get a Temporary Employment Visit Pass (...
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BIMB Investment expects 10%-15% growth for Shariah-ESG Equity Fund
KUALA LUMPUR (Oct 17): BIMB Investment Management Bhd expects between 10 per cent and 15 per cent growth for its Global Shariah-ESG Equity Fund over the next 12 months as the fund is now open for reta...
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Go into vegetable and fruit farming — Dr M
KUALA LUMPUR (Oct 17): In a bid to address the country's huge food import bill, Tun Dr Mahathir Mohamad said farmers should diversify and venture into vegetable and fruit farming as well using modern ...
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FBM KLCI closes down 0.4 point at 1,574.50
FBM KLCI closes down 0.4 point at 1,574.50
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Bursa Malaysia ends marginally lower in cautious trade
KUALA LUMPUR, Oct 17 — Bursa Malaysia ended marginally lower on cautious and range bound trade, in tandem with regional peers, following a lack of market catalysts, said a dealer.
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Ericsson sales rise but earnings hit by corruption provision
STOCKHOLM, Oct 17 — Ericsson today reported rising sales, but the bottom line of the Swedish maker of telecommunications network equipment was hit as it set aside €1.1 billion (RM5.1 billion) to s...
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Stocks turn higher, pound rallies on Brexit deal
LONDON: US equity-index futures turned higher with European stocks on Thursday as a new Brexit deal was announced and investors digested a string of corporate...
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Singapore REITs are on a record fundraising spree
SINGAPORE (Bloomberg): Singapore real estate investment trusts are back for more cash, pushing secondary share sales to record levels.
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Politics and Policy: Human rights apply to everyone
DATUK Seri Mohd Hishamudin Mohd Yunus has held high the torch of judicial independence in a career of almost 23 years in the judicial service.
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Cover Story: Boustead Plantations to tackle debt-cash flow mismatch
GIVEN public disclosures in 2019 so far, minorities of Boustead Plantations Bhd may rightly wonder if they will be asked to pump cash into the planter soon.
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Cover Story: Ways and means to raise cash
THE need for cash may explain why Boustead Holdings Bhd was looking to sell its petrol station business under Boustead Petroleum Marketing Sdn Bhd (BPM), though that was blocked by other shareholders ...
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Cover Story: High debt, shrinking cash flow hurting Boustead Holdings
THERE was a time when Boustead Holdings Bhd, with its sprawling interests, was seen as the local equivalent of the great “hongs” of Hong Kong’s yesteryears.
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MATRADE hopes India will not proceed with restricting imports from Malaysia
KUALA LUMPUR (Oct 17): Malaysia External Trade Development Corporation (MATRADE) hopes the Indian government will not proceed with restricting the imports of Malaysian products including palm oil, sai...
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Malaysia to garner over US$100m investments from summit in Samara, Russia
PETALING JAYA (Oct 17): The Malaysian business delegation which recently attended the Volga Investment Summit & World Halal Day 2019 in Samara, Russia, is expecting over US$100 million worth of invest...
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Court rules MIA cannot release findings of probe on ex-1MDB auditor until he...
KUALA LUMPUR (Oct 17): The High Court today ruled that the Malaysia Institute of Accountants’ (MIA) Disciplinary Committee cannot make public the findings of its investigations on Deloitte PLT partn...
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Ahmad Maslan: Attempts to form govt without DAP and Amanah halted after...
KUALA LUMPUR (Oct 17): Umno’s attempts to form a government with certain MPs in Pakatan Harapan but excluding those from DAP and Parti Amanah Negara were discountinued after Muafakat Nasional, accor...
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China says hopes to reach phased trade pact with US as early as possible
BEIJING, Oct 17 — China’s commerce ministry said today that China hoped to reach a phased agreement with the United States over trade as early as possible, and make progress on cancelling tariffs ...
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Emerging markets stocks rise on trade optimism; Turkish lira holds steady
NEW YORK, Oct 17 — Emerging market stocks rose for the sixth straight session today buoyed by lingering trade optimism, while the Turkish lira held steady ahead of a top-level meeting between Turkey...
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Pound sinks as key ally rejects Johnson Brexit plan
HONG KONG, Oct 17 — Sterling tumbled today after Prime Minister Boris Johnson’s key ally in parliament said it “could not support” his plans for a Brexit deal, throwing a spanner in the works ...
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Manish Gupta appointed head of commercial banking at StanChart Malaysia
KUALA LUMPUR: Standard Chartered Malaysia has appointed Manish Gupta as its head of commercial banking, with effect from Oct 1.
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India to miss fiscal deficit target by 30-50 bps - sources
NEW DELHI: India is likely to miss its fiscal deficit target of 3.3% of gross domestic product for the current financial year by 30-50 basis points, two sources said, due to the...
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NTP 2019: Optimising the full potential of rail connectivity
KUALA LUMPUR (Oct 17): As roads become increasingly congested and carbon emissions rise with more cars getting on the road, there is a need to promote modal shift from road to rail.
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Wan Azizah, Azmin extend condolences over Turkey bus accident
KUALA LUMPUR (Oct 17): Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail and Economic Affairs Minister Datuk Seri Mohamed Azmin Ali today expressed their condolences to the family of a Malaysi...
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Wisma Putra to extend assistance over bus accident in Turkey
KUALA LUMPUR (Oct 17): The Foreign Ministry, Wisma Putra, is to extend assistance to the family of the Malaysian who was killed and the 10 other Malaysians who were injured in a road accident in Turke...
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Second flying car with new technology in Q3 next year — minister
KUALA LUMPUR (Oct 17): The country’s second flying car using a different technology from the first car could perform its inaugural flight in the third quarter of next year, Entrepreneur Development ...
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Functions of cooperative institutions need to be strengthened —  PM Mahathir
KUALA LUMPUR (Oct 17): The function of cooperative institutions, especially those in rural areas, need to be strengthened as a platform for the development of smallholders, Prime Minister Tun Dr Mahat...
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NTP 2019: Malaysia to coordinate all transport safety under a single entity
KUALA LUMPUR (Oct 17): There is an urgent need to strengthen safety guidelines, regulations and enforcements related to road safety to reduce road accidents and fatalities, which resulted in an estima...
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NTP 2019: Govt to push local transport operators to expand overseas
KUALA LUMPUR (Oct 17): Given the increasing integration among countries in ASEAN, the government aims to facilitate local transport operators to export their services overseas.
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NTP 2019: Future of transport must cater to expanding e-commerce market
KUALA LUMPUR (Oct 17): The future of the transport sector in Malaysia will need to take into account the expansion of the e-commerce market, which is expected to increase commercial traffic and increa...
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NTP 2019: Urban planning to integrate with public transport development
KUALA LUMPUR (Oct 17): The National Transport Plan (NTP) 2019 wants to encourage the use of public transportation as part of its move towards a greener transport ecosystem, by prioritising public tran...
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RAM Ratings projects Malaysia’s 2020 GDP growth at 4.5pc
KUALA LUMPUR, Oct 17 — RAM Ratings has projected a marginally lower 4.5 per cent gross domestic product (GDP) expansion for Malaysia in 2020, compared to an estimated 4.6 per cent for 2019.
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RAM Sustainability member of Global Green Social Bond Advisory Council
KUALA LUMPUR: RAM Sustainability has been selected a member of the 2019/2020 Advisory Council to the Green Bonds Principles (GBP) and Social Bonds Principles (SBP)...
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Nestle SA to return US$20b to investors
ZURICH: Nestle SA plans to return as much as $20 billion to shareholders by 2022 and indicated an appetite for acquisitions to help Chief Executive Officer Mark...
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Hong Kong protest demands are unrealistic, Singapore PM says
SINGAPORE: Protesters in Hong Kong are making unrealistic demands in an effort to take down the government, Singaporean Prime Minister Lee Hsien...
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Cover Story: Righting the LTAT ship
AS Lembaga Tabung Angkatan Tentera (LTAT) declared the lowest dividend in its 46-year history, it was a nightmare for its chief executive Nik Amlizan Mohamed, who joined the pension fund in October 20...
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Hong Kong tycoons are US$3b richer on Lam’s housing policy
HONG KONG: In her annual policy address Wednesday, Hong Kong’s embattled leader Carrie Lam vowed to help citizens get on the property ladder.
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TSMC’s revenue outlook beats thanks to solid iPhone demand
BEIJING: Taiwan Semiconductor Manufacturing Co., the primary chip supplier to Apple Inc., projected current-quarter revenue ahead of analysts’ estimates after the...
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Fitch Solutions: Malaysia's medical devices sector to gain from trade war
KUALA LUMPUR: Fitch Solutions Macro Research expects Malaysia's medical devices industry, including gloves, to benefit from the increasingly acrimonious trade...
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Off-Market Trades: Green Ocean Corp Bhd, Green Packet Bhd, Prinsiptek Corp Bhd...
BETWEEN Sept 25 and Oct 1, the most notable off-market transaction was at Green Ocean Corp Bhd, where Tawaria Sdn Bhd ceased to be a substantial shareholder after disposing of 26.34 million shares or ...
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Markets tepid as trade optimism ebbs; Indonesia ticks up
(Oct 17): Most Southeast Asian stock markets were tepid on Thursday, as hopes of a Sino-U.S. trade deal waned amid a lack of concrete details, while the Indonesian index extended gains ahead of Presid...
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Perdana Petroleum on track for turnaround in FY20
KUALA LUMPUR (Oct 17): Perdana Petroleum Bhd (PPB) is on track to return to the black in its coming financial year ending Dec 31, 2020 (FY20), since its shareholders have given their nod for the group...
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Malaysia needs to be ready for the worst in South China Sea - foreign minister
KUALA LUMPUR (Oct 17): Malaysia needs to boost its naval capabilities to prepare for possible conflict in the South China Sea, its foreign minister said on Thursday, even as Southeast Asia's third-lar...
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S P Setia's Setia City Mall set to be largest in Shah Alam
SETIA ALAM (Oct 17): Setia City Mall — joint venture between S P Setia Bhd and Lendlease — is set to be the largest mall in Shah Alam, after the Phase 2 expansion completion by second half of next...
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US embargo on Cuba affects all sectors, all Cubans — ambassador
KUALA LUMPUR (Oct 17): The US embargo against Cuba, which was officially imposed in February 1962, has affected all sectors on the island nation, as well as the country's over 11 million population fo...
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PTrans, Goodway, Notion, Hexza, Master-Pack, OCR
KUALA LUMPUR (Oct 17): theedgemarkets.com has highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today.
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KLCI pares loss as regional markets trade mixed
KUALA LUMPUR (Oct 17): The FBM KLCI pared some its loss at midday break against the backdrop of mixed regional markets.
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KLCI dips on profit-taking at midday
KUALA LUMPUR: Investors turned to profit-taking on the domestic market after a brief advance in the early morning session, on the back of strong gains in the previous...
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China reduces holdings of US Treasuries in August
WASHINGTON: China reduced its holdings of U.S. Treasuries to 1.1035 trillion U.S. dollars in August, the second consecutive month in which the holdings...
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Everyday Matters: Are we promoting good business leaders?
Anyone can hold the helm when the sea is calm.
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Terra Firma founder in management buyout deal for Aussie farm CPC
SYDNEY: Terra Firma founder and chairman Guy Hands is leading a consortium to buy the firm’s Australian cattle company, Consolidated Pastoral Co (CPC), off its funds in a management buyout, CPC’s chief executive Troy Setter said yesterday.
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BNP Paribas Malaysia appoints Anthony Lo as new CEO
KUALA LUMPUR (Oct 17): BNP Paribas Malaysia Bhd has appointed Anthony Lo as its chief executive officer (CEO) effective Oct 1, the group said in a statement today.
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International Sukuk Issuance volumes expected to grow in coming years - Fitch
KUALA LUMPUR (Oct 17): International sukuk issuance from major Islamic finance markets were almost unchanged in the first nine months of 2019 year-on-year (y-o-y), Fitch Ratings said.
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Pantech rises 2.86% on positive technical outlook
KUALA LUMPUR (Oct 17): Shares in Pantech Group Holdings Bhd rose 2.86% at mid-morning following a positive technical outlook on the stock.
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HLB commits RM500mil to fund RE projects
PETALING JAYA: Hong Leong Bank Bhd has approved nearly RM300mil in financing for renewable energy (RE) projects as of August this year out of its RM500mil...
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Ringgit higher against US dollar at opening on weaker US retail sales
KUALA LUMPUR (Oct 17): The ringgit opened higher against the US dollar on renewed interest from investors after the US retail sales showed a negative data figure, a dealer said.
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Favelle Favco rises 2.27% on bagging supply contracts worth RM77.2m
KUALA LUMPUR (Oct 17): Shares in Favelle Favco Bhd rose 2.27% this morning after it bagged nine supply contracts worth a total of RM77.2 million, involving the supply of tower cranes, offshore cranes,...
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Malaysia Airlines launches Fly Malaysia campaign to promote Visit Malaysia 2020
KUALA LUMPUR (Oct 17): In conjunction with Visit Malaysia 2020 (VM2020), Malaysia Airlines has its Fly Malaysia campaign.
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Yinson up 1.72% on securing Brazil jobs worth US$5.4 billion
KUALA LUMPUR (Oct 17): Yinson Holdings Bhd shares rose 1.72% this morning after it secured contracts worth US$5.4 billion from Petróleo Brasileiro S.A. (Petrobras).
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KLCI dips on mild profit taking in line with tentative region
KUALA LUMPUR (Oct 17): The FBM KLCI dipped in early trade Thursday, on some mild profit taking in line with tentative regional markets.
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Global shares lose steam on weak US retail sales, Brexit in focus
TOKYO: Global stocks barely moved on Thursday as soft U.S. retail sales data raised concerns about the health of the world's largest economy and risk of global recession...
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Blue chips treading water as key Asian markets dip
KUALA LUMPUR: Blue chips were treading water early Thursday awaiting fresh leads and directions from institutional players but plantations KL Kepong and PPB...
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Serba Dinamik expected to hit RM10bil outstanding order book target, says AmInvestment
KUALA LUMPUR: Serba Dinamik Holdings Bhd is expected to achieve its outstanding order book target of RM10bil by end FY19F given the pace of its recent...
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LPI Capital 'market perform', RHB Bank 'buy", GD Express 'neutral'
LPI Capital’s nine-month financial year 2019 (9M19) profit after tax and minority interest of RM235.8mil came in below estimates due to higher claims incurred.
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Maybank, National Bank of Cambodia boost cross-border remittance
KUALA LUMPUR: Malayan Banking Bhd (Maybank) and the National Bank of Cambodia will work together to boost cross-border payment and remittance between...
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M'sia can keep strong growth despite global tensions
KUALA LUMPUR: Malaysia’s well-diversified export base will help the economy maintain a relatively strong growth despite global trade tensions, Fitch Ratings says.
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Kenanga IB Research raises target price for Power Root to RM2.45
KUALA LUMPUR (Oct 17): Kenanga IB Research has maintained its “Outperform’ rating on Power Root Bhd at RM2.16 with a higher target price of RM2.45 (from RM2.30) and said it expects FY20 to see a g...
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Yinson wins big in Brazil
KUALA LUMPUR: Yinson Holdings Bhd has secured a 25-year floating, production, storage and offloading (FPSO) contract in Brazil that is worth US$5.4 billion (RM22.7 billion) from Petróleo Brasileiro S...
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Possible for upside in Karex, says PublicInvest Research
KUALA LUMPUR (Oct 17): PublicInvest Research said Karex Bhd is showing initial signs of potential recovery from its prior downtrend.
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RHB maintains 'Buy' on GenM as overhang on potential tax hike lifted
KUALA LUMPUR: Genting Malaysia Bhd should be seeing improved investor sentiment as concerns over a potential gaming tax hike has been lifted following Budget 2020.
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RHB Research retains Buy on Yinson, TP RM8.22
KUALA LUMPUR: RHB Research is retaining its Buy call and target price of RM8.22 for Yinson Holdings Bhd after it secured contracts worth US$5.40bil or RM22.70bil in...
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Sunway sets up Singapore trust to invest in student housing
PETALING JAYA: Sunway Bhd has established a private trust in Singapore with an initial asset under management of approximately RM202mil that will invest in...
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Halim Saad and Wong make RM5.2bil offer to take over PLUS
PETALING JAYA: Businessman Tan Sri Halim Saad and Datuk Wong Gian Kui have joined the race to take over PLUS Malaysia Bhd (PMB) with a RM5.2bil offer.
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Indian restriction on palm oil imports will lower prices
PETALING JAYA: A potential restriction by India on palm oil imports from Malaysia will lead to higher stockpiles and lower crude palm oil prices here, CGS CIMB Research says
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Drone services firm raising RM126mil to spur growth
KUALA LUMPUR: Aerodyne Group, a Malaysian-based drone services company, is raising US$30mil (RM126mil) from top regional venture capital firms to fuel growth.
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Women representation on PLC boards is still low
KUALA LUMPUR: Women representation in boardrooms of public-listed companies (PLCs) on Bursa Malaysia is moving at a slower pace, says Institute of Corporate...
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Serba Dinamik wins five jobs in Malaysia, Central Asia and Middle East
PETALING JAYA: Serba Dinamik Holdings Bhd has strengthened its foothold in Central Asia and the Middle East after its wholly owned subsidiaries won two...
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Yinson doubles order book, gets RM22bil project in Brazil
PETALING JAYA: Yinson Holdings Bhd has secured a US$5.4bil (RM22.65bil) contract from a Brazilian multinational oil company for a floating facility that can...
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RHB’s Small-Cap Jewels outperform FBM KLCI
PETALING JAYA: RHB Research Institute’s 2019 Small-Cap Jewels have collectively outperformed the FBM KLCI and FBM Small Cap Index over the last five months, even...
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Asia Stock Futures Mixed; Treasuries Advance
(Oct 17): Asian stocks were set for a mixed start Thursday as investors gauged a weak U.S. consumer report that triggered a rally in Treasuries.
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US, France and OECD ‘getting closer’ to tech tax agreement, says Mnuchin
WASHINGTON, Oct 17 — Washington is inching toward an agreement with Paris and the Organisation for Economic Cooperation and Development on taxing global tech giants, US Treasury Secretary Steven Mnu...
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MISC says tanker units comply with US curbs on Venezuela
KUALA LUMPUR: MISC Bhd’s petroleum shipping arm, AET is operating in full compliance with the US guidelines on Venezuela.
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Southeast Asia's mobile payments face shakeout as market booms
HO CHI MINH CITY/HONG KONG/SINGAPORE: Just next to Ho Chi Minh City's financial district, two dozen street vendors' stalls display colourful adverts for...
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Trump says likely won't sign China trade deal until he meets with Xi
WASHINGTON: U.S. President Donald Trump on Wednesday said he likely would not sign any trade deal with China until he meets with Chinese President Xi...
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Palm oil price rises as Malaysia looks to repair ties with India
SINGAPORE: Malaysian palm oil futures rose over 1.5% on Wednesday after the government said it will import more products from top palm buyer India in a bid to...
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Oil price rises on hopes OPEC will extend supply cuts, weaker US$
HOUSTON:  Oil rose on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as...
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Wall Street slips as weak economic data offsets earnings strength
NEW YORK:  Wall Street lost ground on Wednesday as weak U.S. economic data and simmering geopolitical tensions spooked buyers away from the equities market...
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South-East Asia has a weight problem
Starting next year, Singapore will treat packaged sugary drinks such as Coca-Cola the way that other countries treat cigarettes. Advertisements will be banned, and a...
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Profit warnings plague corporate China as economy worsens
SHANGHAI: After a bleak first half for corporate earnings in China, the current reporting season is bringing more grim news.
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Govt to share business risk
PUTRAJAYA: Risk-sharing between the government and the private sector is one of the key elements of Budget 2020 that aspires to create more business opportunities...
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Cabinet to get KLIA systems disruption investigation report this month — MOT
KUALA LUMPUR (Oct 16): The results of an investigation into the systems disruption at Kuala Lumpur International Airport (KLIA) are expected to be presented to the cabinet later this month, according ...
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Proceeds from assets liquidation not credited into Govt account
KUALA LUMPUR (Oct 16): Proceeds from the assets disposal of government-linked investment companies (GLiCs) were not credited directly into the government account, said Economic Affairs Deputy Minister...
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PLUS to introduce smartlane test initiative on NKVE
KUALA LUMPUR (Oct 16): Beginning Oct 23, PLUS Malaysia Berhad (PLUS) plans to introduce a SmartLane Test Initiative manually to overcome traffic congestion along the Setia Alam route to the Shah Alam ...
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Only 15% foreign workers in nation's work force by 2020
KUALA LUMPUR (Oct 16): The Government has fixed the number of foreign workers in the country’s work force at 15 percent by 2020, said the Ministry of Human Resources.
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SME Bank approved RM769 mil financing so far this year
KUALA LUMPUR (Oct 16): Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has approved a total of RM769 million in financing from January to date.
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Two months to complete Fuel Subsidy Programme mechanism — Saifuddin
KUANTAN (Oct 16): The Ministry of Domestic Trade and Consumer Affairs has two months to complete the Fuel Subsidy Programme (PSP) mechanism for the middle-income group (M40), said its Minister Datuk S...
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Global Testbed initiative to attract emerging technologies to innovate
PUTRAJAYA (Oct 16): A Global Testbed initiative will be established to attract next-gen emerging technologies in the country to innovate, said the Malaysia Digital Economy Corporation (MDEC). It said ...
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US Fed: Firms say near-term outlook dimming amid slow growth
WASHINGTON, Oct 17 — Less than stellar US growth in recent weeks has caused many businesses to lower their outlooks and they now expect the economy to weaken, the Federal Reserve said yesterday.
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EU-US airliner war in nobody’s interests, says Airbus chief
WASHINGTON, Oct 17 — Airbus chief executive Guillaume Faury urged the European Union and United States yestrday to reach a negotiated solution to a long-running dispute over airline subsidies and ta...
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IMF: US-China trade tensions fuel downturn risks, spillover for emerging markets
WASHINGTON, Oct 17 — Trade tensions between the United States and China — the world’s two largest economies — are a significant source of risk for the global economy, with “real spillover ef...
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Wall Street inches lower as trade concerns linger
WASHINGTON, Oct 17 — Wall Street edged lower yesterday, as concerns over an escalation in the US-China trade war and weak economic indicators persisted, while a raft of upbeat results underlined a s...
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Trump broaches tariffs to solve US-EU trade problems, but says ‘would be too harsh’
WASHINGTON, Oct 17 — President Donald Trump yesterday said that charging additional tariffs on European imports could instantly resolve trade issues between the United States and European Union but ...
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Yinson, Genting Malaysia, Hong Leong Bank, Favelle Favco, Mestron, AE Multi,...
KUALA LUMPUR (Oct 16): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Oct 17) may include the following: Yinson Holdings Bhd, Genting Malaysia Bhd, Hong...
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Reject extremism and give Pakatan the five years it deserves, says Rafidah
KUALA LUMPUR: The rakyat should give the Pakatan Harapan Government more time to prove itself before assessing its successes, says former International Trade and Industry Minister Tan Sri Rafidah Aziz...
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Ramada by Wyndham Meridin hotel in JB officially opens
JOHOR BAHRU (Oct 16): Mah Sing Group Bhd’s Ramada by Wyndham Meridin hotel here held its grand opening yesterday.
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