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Sundaily (Asia) 10/14/2019 07:39
GEORGE TOWN:. Small and medium enterprises (SMEs) need to venture into e-commerce to counter the present stagnation in the market as the world evolves to embrace technology, said the Malaysia SME Media Group CEO Wayne Lim. Lim, who is also the SME newsletter group chief editor, said that at present SMEs, particularly those of the micro to small scale cannot compete online with multinationals or government-linked companies. "They cannot also compete with startups of whom many are well funded and can afford to sell things cheaper online.
Sundaily (Asia) 10/14/2019 07:35
PETALING JAYA:. AME Elite Consortium Bhd shares made a strong debut on the Main Market of Bursa Malaysia with a premium of 25 sen or 19.2% over its offer price of RM1.30. Despite falling to a low of RM1.27 in the early trade, the counter was quick to rebound as much as 29 sen or 22.3% to a high of RM1.59 before ending the day at RM1.55 on 49.75 million shares changing hands, giving it a market capitalisation of RM662.03 million. Managing director Kelvin Lee is upbeat on the Johor-based integrated industrial property solutions provider’s future prospects, targeting double-digit growth in profit for 2020. Executive director Simon Lee elaborated that the optimistic view is based on the government’s announcement that approved foreign direct inve.
Sundaily (Asia) 10/14/2019 06:56
KUALA LUMPUR: The ringgit ended lower today on the back of stronger greenback following positive reaction in the US-China trade tension talks. At 6pm, the ringgit was quoted at 4.1860/1900 against the greenback compared with Friday’s close of 4.1840/1870. An analyst said that the local sentiment had managed to push the local note in early trade, but external factors led the US dollar to strengthen over a period of time. “With the current trade talks going well, along with the US decision to shelve new tariffs against Beijing and Beijing would buy between US$40 billion and US$50 billion worth of American agricultural products, the dollar had received a strong push backed by the positive economic outlook,“ she said. She added the fell of oil
Sundaily (Asia) 10/14/2019 05:45
KUALA LUMPUR : Bursa Malaysia ended on a firm note across the board, tracking the gains on regional bourses, amid optimism on the latest round of the US-China trade negotiation, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.75 points to 1,567.59 from last Friday’s 1,556.84. The index, which opened 5.81 points higher at 1,562.65, moved between 1,562.65 and 1,568.96 throughout the day. Market breadth was positive as gainers led losers 487 to 367, with 407 counters unchanged, 737 untraded and 42 others suspended. Turnover widened to 2.99 billion shares worth RM1.84 billion from 2.33 billion shares worth RM1.6 billion last Friday. Regionally, Japan’s Nikkei improved 1.15% to 21,798.87, Hong Kong’s Hang Seng In.
Sundaily (Asia) 10/14/2019 04:59
GENEVA: The World Trade Organization (WTO) formally authorised the United States on Monday to impose tariffs on up to $7.5 billion of imports of EU goods after an arbitrator's decision over subsidies to planemaker Airbus . The WTO's dispute settlement body, made up of representatives from its 164 members, cleared Washington to take countermeasures against the European Union and Airbus-producing countries Britain, France, Germany and Spain. The authorization was a formality after a WTO arbitrator awarded a record right to retaliate over illegal subsidies this month.
Sundaily (Asia) 10/14/2019 03:47
KUALA LUMPUR: Malaysia’s deal activity outlook is brightening, with research and analysis consultancy Oxford Economics expecting the number of mergers and acquisitions (M&A) transactions in Malaysia to increase to 221 deals in 2020, from an expected 218 deals in 2019. “But the value of these deals to fall to US$6.5 billion from US$8.9 billion,“ according to law firm Wong & Partners’ fifth annual Global Transactions Forecast report, which is produced in conjunction with Oxford Economics released today. Commenting on the report, Wong & Partners deputy managing partner from the corporate, commercial and securities practice, Munir Abdul Aziz expects the M&A and capital market activities in the country in 2019 and 2020 would be driven by three p.
Sundaily (Asia) 10/14/2019 02:48
PETALING JAYA: Regal Path Sdn Bhd has secured syndicated banking facilities of up to RM1.1 billion for the acquisition of Pavilion Bukit Jalil mall from Malton Bhd’s wholly owned subsidiary Pioneer Haven Sdn Bhd. Regal Path said in a statement that it had on October 10 signed the facilities agreement with four banks, namely CIMB Bank Bhd, Malayan Banking Bhd, OCBC Bank (Malaysia) Bhd and United Overseas Bank (Malaysia) Bhd.
Sundaily (Asia) 10/14/2019 02:13
PETALING JAYA: Cookware manufacturer Ni Hsin Resources Bhd will invest RM10 million in Satumarin Sdn Bhd for its business expansion into the marine and oil & gas sectors. Ni Hsin had agreed to acquire a 49% stake in Satumarin for RM735,000 cash. Upon the successful transfer of the sale shares to Ni Hsin, Ni Hsin would subscribe for up to 9.27 million redeemable preference shares for RM9.27 million cash in Satumarin within a period of five years. Satumarin is in the business of providing professional offshore marine services and logistics support, project management and marine technical consultancy services in the oil & gas industry. The bumiputra company holds the license to supply product/service to exploration and oil/gas companies in Mal.
Sundaily (Asia) 10/14/2019 01:55
PETALING JAYA: Foreign investors sold RM276.6 million net of local equities last week, compared to RM770.8 million net sold the week before. "Offshore investors continued to reduce their exposure on stocks listed on Bursa for the fourth consecutive week albeit at a slower pace," MIDF Research said in its fund flow report. It said Bursa had a slightly rough start to the week as foreign investors disposed of RM65.5 million net last Monday.
Sundaily (Asia) 10/14/2019 01:47
PETALING JAYA: Carlsberg Brewery Malaysia Bhd has appointed Stefano Clini ( pix ) as its new managing director effective October 26, 2019. Steafano, an Italian aged 53, will succeed outgoing managing director Ted Akiskalos in managing the group’s operations in Malaysia and Singapore as well as representing the group in Lion Brewery (Ceylon) PLC, Sri Lanka as a board member. Clini is currently Carlsberg Vietnam Breweries Ltd managing director since September 2017. “Under his leadership, Carlsberg Vietnam has had a successful turnaround with record growth in both top and bottom line,” said Carlsberg Malaysia in a filing with the stock exchange. Prior to joining Carlsberg Vietnam, Clini was British American Tobacco Malaysia managing director r.
Sundaily (Asia) 10/14/2019 01:01
KUALA LUMPUR : Petroliam Nasional Bhd (Petronas), through its subsidiary, Petronas LNG Ltd (PLL), recently completed its third successful delivery of liquefied natural gas (LNG) cargo through its break bulking ship-to-ship (STS) transfer to two buyers. This LNG break-bulking STS transfer which took place in Brunei Bay, Sabah, is the first for Petronas in expanding its customer base by providing solutions to two buyers.
Sundaily (Asia) 10/14/2019 00:24
SINGAPORE : Singapore eased monetary policy for the first time in more than three years on Monday as the US-China trade war bites, while the export-reliant economy narrowly avoided recession in the third quarter. The financial hub's central bank joins others around the world, from Europe to the US, in loosening policy as fears mount of a global economic slowdown. The city-state has traditionally been the first among Asia's export-driven economies to be affected during a downturn, making it a closely watched barometer of demand for goods and services for the rest of the region. And it has been hard hit in recent months, with growth rates and exports plummeting, as US-China tensions upend the global trading system. The Monetary Authority of S.
Sundaily (Asia) 10/13/2019 23:37
KUALA LUMPUR : AME Elite Consortium Bhd shares made a weak debut on the Main Market of Bursa Malaysia as it opened at RM1.28, a 1.5% discount from its offer price of RM1.30. At 10.26am, the counter, however, was trading 20 sen or 15.4% higher at RM1.50 with 29.71 million shares changing hands. AME’s listing raised RM111.1 million, of which RM69.1 million has been earmarked for future industrial property development and investment projects.
Sundaily (Asia) 10/13/2019 23:34
KUALA LUMPUR: The new tax band of 30% for those with a chargeable income of RM2 million a year is expected to generate about RM100 million for the government, according to Finance Minister Lim Guan Eng ( pix ). Speaking at the Budget 2020 Forum this morning, he said the announcement was based on a proposal by the World Bank. “According to the World Bank, even the rate of 30% is considered low, compared to other countries who levy a much higher rate on their top earners. “We don’t expect to raise that much, but I think it would be roughly RM100 million,“ he said. Meanwhile, Lim said the government’s expectation for revenue collection in the coming year still stands. “I think what was said for collection is what we are sticking to,“ he told t.
Sundaily (Asia) 10/13/2019 22:45
KUALA LUMPUR: The ringgit opened higher against the US dollar on improved buying demand for the local note, a dealer said. At 9am, the local note was at 4.1780/1810 versus the greenback from Friday’s 4.1840/1870. “Our ringgit received a boost following the tabling of 2020 Budget, which not just aimed at improving the country’s economy but also tackling issues faced by the people including job opportunities, ensuring women’s wellbeing and placing more emphasis on education and religious institutions. “We hope this will further increase the confidence level among foreign investors,” he said. The ringgit however traded mixed against other major currencies. It appreciated against the yen to 3.8589/8627 from 3.8691/8729 and improved against the
Sundaily (Asia) 10/13/2019 22:36
KUALA LUMPUR: Bursa Malaysia opened higher today, tracking the gains of regional peers amid positive sentiment following a truce in US-China year-long trade war last Friday. The US suspended a tariff escalation due this week on US$250 billion (RM1.04 trillion) of Chinese exports set for US shores as part of a “phase one” trade accord. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.05 points to 1,564.89 from last Friday’s 1,556.84 . The benchmark index opened 5.81 points higher at 1,562.65 . On the broader market, gainers outpaced losers 243 to 64, while 156 counters were unchanged, 1,535 untraded and 42 others suspended. Turnover amounted to 174.62 million shares worth RM914.66 million. Malacca Securities Sdn Bhd said i.
Sundaily (Asia) 10/13/2019 08:09
PETALING JAYA:. While one of Budget 2020’s allocations for the property sector is aimed at reducing the supply overhang in the country, not all property players think this will solve the problem. To reduce supply overhang of condominiums and apartments amounting to RM8.3 billion in the second quarter of 2019, the government has announced that it will lower the threshold on high-rise property prices in urban areas for foreign ownership from RM1 million to RM600,000 in 2020. After tabling the Budget in Parliament, Finance Ministry Lim Guan Eng explained that the move is only applicable to existing unsold units and does not cover new projects that are yet to be launched. However, National House Buyers Association (HBA) secretary-general Datuk C.
Sundaily (Asia) 10/13/2019 08:02
PETALING JAYA:. The proposed consolidation of development financial institutions (DFIs) in Budget 2020 could help reshape the roles and functions to be more specific, targeted and effective, according to Sunway University Business School Professor of Economics Dr Yeah Kim Leng ( pix ). “It is a welcome move to consolidate the DFIs given the fast-changing economic landscape whereby most of their functions are better served by the commercial and investment banks,” he told SunBiz . Yeah said the rationalisation of the institutions will also reduce the contingent risks and liabilities to the government. In Budget 2020, Finance Minister Lim Guan Eng announced that Bank Negara Malaysia has proposed a two-phase restructuring plan for Malaysia’s DFI.
Sundaily (Asia) 10/13/2019 07:51
Malaysia’s. GDP seen growing faster at 4.8% in 2020. > Gross domestic product (GDP) growth is projected to improve marginally to 4.8% in 2020 from 4.7% in 2019. > Household spending, which accounts for 58% of GDP, will continue to spearhead growth, supported by a stable labour market and benign inflation. > Domestic demand is expected to expand 4.8% in 2020 against 4% in 2019. > Private consumption is estimated to grow 6.9% in 2020 from 6.8% in 2019, underpinned by sustained economic activities, including major events such as Visit Malaysia 2020, Apec meetings and World Congress on Information Technology 2020. > Private investment is expected to rise 2.1% in 2020 from 1.5% in 2019, given the resumption of strategic projects and higher exports,
Sundaily (Asia) 10/13/2019 04:00
PETALING JAYA: Malaysian small and medium enterprises (SMEs) and mid-tier companies are urged to fully leverage on the perks announced in Budget 2020. This can be done through incorporating export plan in their business strategy or enhancing their readily-available export plan for 2020 and beyond, according to Malaysia External Trade Development Corp (Matrade). Local companies will enjoy more benefits from Matrade’s Market Development Grant (MDG) and export promotion efforts following the increment of the claim ceiling per company for the MDG, from the current RM200,000 to RM300,000. The ceiling for the participation in international trade fairs will also be revised upwards from RM15,000 to RM25,000. The government will also allocate RM50 m.

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