Business

The Edge Markets:

Situation in KLIA improves, queues manageable

SEPANG (Aug 24): The situation at the KL International Airport, which is beset with a systems breakdown, improved today with the airport less crowded and manageable queues at the check-in counters.

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The Edge Markets:

If you eat these foods, you're probably spending less now

This article first appeared as 'Food prices have come down, says minister' in The Edge Malaysia Weekly, on August 5, 2019 - August 11, 2019.

The Edge Markets:

Politics and Policy: Malaysia is in a political situation that is uncertain and...

WHEN Abim, the Muslim Youth Movement of Malaysia, joined Bersih, the Coalition for Clean and Fair Elections, in calling for the prime minister to put in place a clear transition plan for Datuk Seri An...

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Malay Mail:

Trump says he won't stop Jerome Powell from resigning as Fed Chair

WASHINGTON, Aug 24 ― US President Donald Trump sharply criticised Federal Reserve Chairman Jerome Powell yesterday and said he wouldn't try to stop the chief US central banker if he offered to resig...

Malay Mail:

Trump: US will tax French wine in response to digital tax

WASHINGTON, Aug 24 ― US President Donald Trump yesterday reiterated criticism of a French proposal to levy a tax aimed at big US technology companies and threatened again to retaliate by taxing Fren...

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The Edge Markets:

Business Of Sports: How the power of one could change the world

Among the many people who have tried to change the world, you will find inventors, scientists, philosophers, humanitarians and the odd psychopath.

The Star:

When debt is cash

IS the world turning upside down or is it real? Early this month, Denmark’s third largest bank, Jyske Bank, set the lending rate for mortgages at an unbelievable interest...

The Star:

REITs become preferred option for cautious investors

WITH the current global economic uncertainties and sluggish Malaysian property market, real estate investment trusts (REITS) have become a favoured...

The Edge Markets:

The Edge Special Report: The Real New Malaysia

KUALA LUMPUR (Aug 24): A short year since the first change in government gave the people hope for a resetting of the national direction, grave doubts about the pace of scope of reforms are clouding th...

Malay Mail:

On-off trade tariffs wreak havoc on US company planning

CHICAGO, Aug 24 ― Win Cramer thought his company was out of the firing line in the escalating Sino-US trade war after his “Made-in-China” wireless headphones, speakers and earbuds were taken off...

Malay Mail:

Bursa Malaysia to trade higher next week on bullish divergence

KUALA LUMPUR, Aug 24 ― Bursa Malaysia is expected to trade higher next week on the back of bullish divergence.

Malay Mail:

Ringgit to trade within tight range next week

KUALA LUMPUR, Aug 24 ― The ringgit is expected to remain stuck in a tight range as the market seeks more direction from key US economic data expected to be released next week.

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Malay Mail:

What tools can Trump use to get US firms to quit China?

WASHINGTON, Aug 24 ― Hours after China announced retaliatory tariffs on US goods yesterday, President Donald Trump ordered US companies to “start looking for an alternative to China, including bri...

Malay Mail:

Nikkei: Japan, US reach framework trade pact, no tariff cuts on Japan cars

TOKYO, Aug 24 ― The United States and Japan have reached the broad framework of a trade agreement, with Washington maintaining tariffs on Japanese autos but Tokyo cutting tariffs on US beef and pork...

The Star:

CPO futures to decline on profit-taking next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to decline next week on profit-taking activities.

CPO | KUALA LUMPUR | Bursa Malaysia Derivatives | Jim Teh | Bernama | CPO price | Interband Group of Companies Senior Palm Oil Trader | CPO market | South | September 2019 | October 2019 | November 2019 | December 2019 | RM2 | 100 | RM2 | 150 | RM67 | RM2 | 210 | RM76 | RM2 | 244 | RM70 | RM2 | 262 | RM64 | RM2 | 282 | RM60 | RM2 | 200 | RM2 | 140

The Star:

The poor get poorer as rates drop

Conventional economic theory presumes that when interest rates are brought down, households will tend to borrow more and spend on houses, cars and themselves...

Malay Mail:

From phone makers to farmers, the toll of Trump's trade wars

WASHINGTON, Aug 24 ― The world's two largest economies, China and the United States, yesterday exchanged blows in the latest escalation in their trade war that has roiled supply chains and whipsawed...

Malay Mail:

World needs to end risky reliance on US dollar, says BoE's Carney

JACKSON HOLE (Wyoming), Aug 24 ― Bank of England Governor Mark Carney took aim at the US dollar's “destabilising” role in the world economy yesterday and said central banks might need to join to...

Malay Mail:

Global trade disputes likely to thwart unity at G7 summit in France

PARIS, Aug 24 ― Leaders of the G7 nations arrive in France today for a summit as a brewing US-China confrontation over protectionism highlighted President Emmanuel Macron's tough task in delivering ...

The Star:

Oil heads for back-to-back weekly gain on hints of trade thaw

SINGAPORE: Oil headed for its first back-to-back weekly gain since June on signs the United States and China could be edging closer to a trade deal and as a growing list of central banks start easing policy to shore up growth.

The Star:

Eye On Stock - MI Technovation

MI TECHNOVATION Bhd (stock code: 5286) made a break out of a 11-month descending trend line it has been dwindling under in Friday trading, marking just the...

MI TECHNOVATION Bhd | SMA | MACD | RM2. | RM1.94 | RM2.02 | RM1.80 | RM1.55

The Star:

Late pick-up lifts index above 1,600

REVIEW: The paralysis on the local market comes at a time when investors are weighing the negative impact of the trade war with the prospect of more stimulus and...

The Star:

Tourism contributes RM42bil to economy

PUTRAJAYA: Malaysia welcomed 13.35 million international tourists and recorded a 6.8% growth in tourist receipts, contributing RM41.69bil to the country’s...

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The Star:

DRB-Hicom returns to the black

PETALING JAYA: DRB-Hicom Bhd has posted a net profit of RM46.21mil for the first quarter ended June 30,2019 (1Q19) from a net loss of RM66.59 mil a year ago due to...

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The Star:

Dayang posts RM55.1mil profit for Q2

KUALA LUMPUR: Oil and gas service provider, Dayang Enterprise Holdings Bhd’s net profit for the second quarter ended June 30,2019 (Q2 2019) rose to...

Malay Mail:

Wall Street tumbles as US-China trade war intensifies

NEW YORK, Aug 24 ― Wall Street tumbled yesterday after the US-China trade war escalated in dramatic fashion, with President Donald Trump demanding that American companies seek alternatives to doing ...

Malay Mail:

Answering Trump, UPS, FedEx and USPS say they already fight illegal drug shipments

NEW YORK, Aug 24 ― FedEx Corp, United Parcel Service Inc and the US Postal Service said yesterday they are already working to stop traffickers from using their services after US President Donald Tru...

Malay Mail:

Britain wants US trade deal quickly, but terms have to be right, says UK spokeswoman

LONDON, Aug 24 ― Britain wants to agree a post-Brexit trade deal with the United States quickly, but the terms have to work for both sides, a British spokeswoman said yesterday ahead of a meeting be...

Malay Mail:

Global stocks fall, yen rallies as US and China escalate trade war

NEW YORK, Aug 24 ― Stocks, the dollar and oil prices fell yesterday while safe havens rose after President Donald Trump demanded US companies look at alternatives to China for manufacturing, followi...

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The Star:

Proton launches first 4s centre in Kota Kinabalu

PROTON Holdings Bhd has launched its first 4S (sales, service, spare parts and body and paint services) flagship dealership in Malaysia to meet rising customer demand...

The Star:

Petronas Dagangan Q2 earnings fall to RM172.75mil

KUALA LUMPUR: Petronas Dagangan Bhd’s (PetDag) net profit slipped 45% to RM172.75mil for the second quarter ended June 30,2019 (2Q19) from RM314.42mil due to...

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The Star:

Malakoff posts Q2 net profit of RM52.2mil

KUALA LUMPUR: Independent power producer Malakoff Corporation Bhd posted net profit of RM52.2mil in the second quarter ended June 30,2019, which was a a slight...

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The Star:

Motor Image launches latest Forester SUV

PETALING JAYA: Motor Image, a wholly-owned subsidiary of Tan Chong International Ltd and the exclusive distributor of Subaru vehicles across eight...

The Star:

SDS Group looks to expand outside Johor

THE story of SDS Group Bhd, which is aiming to list on the ACE Market in October, began with a small traditional bakery in Tampoi, Johor in the 1970s, selling tau sar piah...

The Star:

Banking on less

Digitisation and automation in the global banking sector coupled with an environment of low interest rates and slow capital market activities have changed the way...

Digitisation

The Star:

Analogue switch off sparks opportunities

After some delays, Malaysia is set to switch off its free-to-air analogue TV broadcasting service in less than two months.

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Malaysia | TV broadcasting service | TV1 | TV3 | TV2 | Electronic Program Guide | Sept 30

The Star:

Short Position; Magnum, Gojek, YNH Property,

THE effect of having a cascading jackpot by Magnum Bhd is proving to be a recipe for its fight against illegal operators.

The Edge Markets:

Should govt flip public land for charity? This is what happened in KL.

This article first appeared as 'Regulators in business - Profit, charity & conflict' in The Edge Malaysia Weekly, on August 12, 2019 - August 18, 2019.

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Malay Mail:

Mercosur reaches trade deal with European countries

BUENOS AIRES, Aug 24 ― South American trade bloc Mercosur reached a free trade agreement yesterday with four European countries, Argentine officials and Brazil's President Jair Bolsonaro said after ...

Malay Mail:

IMF to hold weekend meetings in Argentina with advisers for Macri, Fernandez

BUENOS AIRES, Aug 24 ― The International Monetary Fund (IMF) said yesterday that a team will meet with the economic advisers to Argentina's main presidential contenders, incumbent Mauricio Macri and...

Malay Mail:

Trump heaps another 5pc tariff on Chinese goods in latest tit-for-tat escalation

WASHINGTON, Aug 24 ― US President Donald Trump yesterday lashed back at a new round of Chinese tariffs by heaping an additional 5 per cent duty on some US$550 billion (RM2.3 trillion) in targeted Ch...

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The Star:

Fed's commitment to act upstaged by Trump's furor

JACKSON HOLE, Wyo.: Federal Reserve Chair Jerome Powell said the central bank would "act as appropriate" to keep the U.S. economy healthy in a deteriorating global...

The Star:

Wall Street Weekahead: Investors look at dollar stores as US recession fears increase

NEW YORK: More investors are watching the shares of discount retailers like Dollar General Corp and Dollar Tree Inc , which perform better during economic downturns, in...

The Star:

Indonesian walks 800 kilometers backwards to save a forest

Jakarta: An Indonesian man on Friday managed to complete the incredible feat of walking 800 kilometers in reverse, walking for more than month from his village in...

The Star:

Oil prices slide as US-China trade war escalates

NEW YORK: Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods including crude oil, another escalation of a...

The Edge Markets:

IMT-GT can be model for economic progress — Penang CM

GEORGE TOWN (Aug 23): Provinces in the Indonesia, Malaysia and Thailand Growth Triangle (IMT-GT) can be models for economic progress if a balance can be struck between environmental protection and dev...

The Edge Markets:

MSOSH outlines guidelines for Gojek service

KUALA LUMPUR (Aug 23): The Malaysian Society For Occupational Safety and Health (MSOSH) has recommended eight guidelines for the authorities to consider before allowing motorcycle e-hailing services...

The Edge Markets:

Selangor to develop early disaster warning system

SHAH ALAM (Aug 23): Selangor will have its own early disaster warning system by 2022 with the completion of a joint study between the state government and two universities, including one from Japan.

The Edge Markets:

Nik Mohd Hasyudeen is new CEO of Tabung Haji

KUALA LUMPUR (Aug 23): Nik Mohd Hasyudeen Yusoff has been appointed the new group managing director and chief executive officer of the Pilgrims Fund Board (Tabung Haji) effective Sept 1.

The Edge Markets:

Stop all actions which can jeopardise public order — IGP

KUALA LUMPUR (Aug 23): Police have warned all quarters to stop raising sensitive issues and to immediately cease all forms of action that can aggravate the situation, including planned peaceful assemb...

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The Edge Markets:

Govt will study UN's poverty rate claim — Dr Mahathir

PETALING JAYA (Aug 23): Prime Minister Tun Dr Mahathir Mohamad said the Government will study the claim made by United Nations human rights experts on the rate of poverty in the country.

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The Edge Markets:

MyCar wants Govt to reconsider green light for Gojek

PETALING JAYA (Aug 23): A Malaysian-owned e-hailing service, MyCar, wants the Government to reconsider its decision to introduce the motorcycle taxi service or Gojek.

The Edge Markets:

RAM assigns AA3 rating to Press Metal’s proposed sukuk

KUALA LUMPUR (Aug 23): RAM Rating Services Bhd (RAM Ratings) has assigned an AA3/Stable rating to Press Metal Aluminium Holdings Bhd’s proposed Islamic medium-term notes (IMTN) programme of up to RM...

The Edge Markets:

Changes to driving test method needed to implement e-testing — Loke

KEPALA BATAS (Aug 23): The Transport Ministry is making changes to the existing driving licence test method to enable the implementation of e-testing.

The Edge Markets:

Go-Jek: Religious, legal aspects should be considered, says Pahang Mufti

KUANTAN (Aug 23): The proposed introduction of motorcycle-based ride-hailing services like Go-Jek to Malaysia should take into account the views of all quarters before it can be implemented, said Paha...

The Edge Markets:

What MAHB now faces after the unprecedented systems outage at KLIA

KUALA LUMPUR (Aug 23): As the systems outage at Kuala Lumpur International Airport hits its two-day or 48th hour mark, there have been concerns about how the situation at the key Malaysian airport wil...

Malaysia Airports Holdings Bhd | Raymond Yap | KUALA LUMPUR | Malaysian | Kuala Lumpur International Airport | CGS | CIMB | Quality of Service | Malaysian Aviation Commission | CGS-CIMB | Regulatory Asset Base | Sepang | Aug 23 | Aug 21 | September 2018 | Dec 31 | 2019 | Jan 1 | 2020 | 2020 | 2022 | 2017 | 2019 | RM8.55 | RM8.63 | RM1.65 million | RM811 million | RM5 billion | RM1.16 billion | RM1.40 billion | RM117 million

The Edge Markets:

V Ultimate Wellness eyes listing on Bursa Malaysia next year

KUALA LUMPUR (Aug 23): V Ultimate Wellness Bhd, a beauty services company which has been growing exponentially since its establishment 14 years ago, is on track for a listing on Bursa Malaysia's ACE M...

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The Edge Markets:

DRB-Hicom, Boustead Heavy Industries, Dayang, Pharmaniaga, PetDag and MAHB

KUALA LUMPUR (Aug 23): Based on corporate announcements and news flow today, companies in focus next Monday (Aug 26) could include DRB-Hicom Bhd, Boustead Heavy Industries Corp Bhd, Dayang Enterprise ...

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The Edge Markets:

London Biscuits raises RM11m via share placement but defaults in loan payment

KUALA LUMPUR (Aug 23): London Biscuits Bhd, which defaulted on a RM9.8 million loan payment, has managed to place out its last tranche placement share at an average issue price of 32.4 sen per share, ...

The Edge Markets:

MAHB launches annual shopping campaign 'Licence to Win'

KUALA LUMPUR (Aug 23): Malaysia Airports Holdings Bhd (MAHB) has launched its annual shopping campaign ‘Licence to Win’, which runs from Aug 1 till Jan 31, 2020, in line with the airport operator'...

The Edge Markets:

Saifuddin confident Cabinet's decision on Lynas extension made responsibly

KUANTAN (Aug 23): Indera Mahkota MP Datuk Saifuddin Abdullah is confident that the Cabinet had taken into account all considerations before deciding to extend the operating licence of Lynas Malaysia S...

The Edge Markets:

Loke: Penang ferry service upgrade to begin next year, catamarans will be...

GEORGE TOWN (Aug 23): Transport Minister Anthony Loke today gave a commitment that the systems upgrade for the Penang ferry service will begin next year.

The Edge Markets:

Waytha suggests peninsular civil servants in Sabah be given permanent residency

KOTA KINABALU (Aug 24): Minister in the Prime Minister's Department P Waytha Moorthy today expressed hope that civil servants from Peninsular Malaysia who have served in Sabah for a long time and wish...

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Malay Mail:

China strikes back at US with new tariffs on US$75b in goods

BEIJING, Aug 23 — China said today it will impose retaliatory tariffs against about US$75 billion (RM314 billion) worth of US goods, putting as much as an extra 10 per cent on top of existing rates ...

Malay Mail:

Powell: Fed will act ‘as appropriate’ to sustain US expansion

WASHINGTON, Aug 23 — Federal Reserve Chair Jerome Powell stressed today that the central bank will act to ensure the US economic expansion continues, even in the face of “significant risks” pose...

Malay Mail:

US stocks open lower as China announces new tariffs

NEW YORK, Aug 23 — Wall Street stocks opened lower today after China announced another round of tariffs on US goods, the latest escalation in the protracted trade war between the countries.

The Edge Markets:

Harnessing youths for nation's progress

PETALING JAYA (Aug 23): Prime Minister Tun Dr Mahathir Mohamad said tonight youths figure prominently in all aspects of the Government's new initiatives and programmes for the nation to move forward.

The Edge Markets:

Four directors of MGSB jailed and fined for illegal deposit taking, money...

KUALA LUMPUR (Aug 23): MGSB Bhd and its four directors pleaded guilty to the charges for accepting money from depositors without a valid licence under Section 10 of the Financial Services Act (FSA) an...

The Edge Markets:

Nestle launches Starbucks capsules and other 'at home' products in Msia, Spore

KUALA LUMPUR (Aug 23): Nestle (M) Bhd has launched Starbucks at Home, a new range of premium coffee products — including Starbucks capsules — for consumers across Malaysia and Singapore.

The Edge Markets:

Etiqa to pay flight delay claims for travellers affected by KLIA/klia2 IT glitch

KUALA LUMPUR (Aug 23): Etiqa is paying out claims to policy holders of its travel insurance or takaful product who are affected by flight delays arising from a computer glitch at the Kuala Lumpur Inte...

Etiqa | Kamaludin Ahmad | KUALA LUMPUR | Kuala Lumpur International Airport | Aug 23

The Edge Markets:

Govt stands by its 0.4% poverty rate figure, says Azmin Ali

KUALA LUMPUR (Aug 23): The Ministry of Economic Affairs (MEA) is disappointed by the remarks made by United Nations special rapporteur on extreme poverty and human rights Professor Philip Alston, who ...

Malaysia | Philip Alston | Mohamed Azmin Ali | PLI | The Ministry of Economic Affairs | Canberra Group Handbook | KUALA LUMPUR | MEA | United Nations | Poverty Line Income | Government | Household Income Statistics | Sustainable Development Goal 1 | Second Edition | Minister | Sabah | Sarawak | Aug 23 | 2016 | 2011 | RM980 | US$1.25 | RM1 | 180 | RM1 | 020

The Edge Markets:

EVENING 5: Five things you need to know today

Dirty dealings. Corporate battles.

The Edge Markets:

High Proton sales drive DRB-Hicom onto profitable path for three consecutive...

KUALA LUMPUR (Aug 23): DRB-Hicom Bhd, whose share price soared to a 19-year high of RM2.95 today, posted a net profit of RM46.21 million for the three months ended June 30, 2019, versus a net loss of ...

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The Star:

Tokyo new mega project set to eclipse Roppongi

Tokyo: Tokyo is about to get another mound of capitalism

The Star:

Hong Kong faces worst earnings recession since 2008 crisis

Hong Kong: Hong Kong stocks are poised for their worst quarter since 2015 and corporate earnings are unlikely to save them.

The Edge Markets:

Sarawak Oil Palms suffers net profit nosedive of 84% in 2Q

KUALA LUMPUR (Aug 23): Sarawak Oil Palms Bhd suffered an 84% year-on-year fall in its net profit to RM1.68 million in its second quarter ended June 30, 2019 (2QFY19) from RM10.53 million before, as a ...

KUALA LUMPUR | Sarawak Oil Palms Bhd | 2QFY19 | 2QFY18 | Shares | FFB | Aug 23 | June 30 | 2019 | RM1.68 million | RM10.53 million | RM590.2 million | RM774.91 million | RM10.02 million | RM36.6 million | RM1.33 billion | RM1.68 billion | RM7 | RM2 | 263 | RM2.05 | RM1.17 billion

The Edge Markets:

Dayang posts 'best second-quarter' earnings on better margin, higher revenue

KUALA LUMPUR (Aug 23): Dayang Enterprise Holdings Bhd's net profit grew 42% on-year in its second quarter, thanks to higher profit margin and revenue, with lower finance costs and expenses.

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Malay Mail:

US fines Deutsche Bank US$16m to settle China, Russia corruption charges

WASHINGTON, Aug 23 — Deutsche Bank has agreed to pay more than US$16 million (RM67 million) to settle charges that it violated US corruption laws by hiring relatives of foreign government officials ...

Malay Mail:

Irish PM: Ireland could try to block Mercosur trade deal on Amazon concerns

DUBLIN, Aug 23 — As wildfires rage through the Brazilian Amazon, Irish Prime Minister Leo Varadkar has said Dublin will vote against a trade deal between the European Union and South American trade ...

Malay Mail:

As bond e-trading takes off, debt sales business may be ripe for automation

LONDON, Aug 23 — With banks’ bond trading desks increasingly going electronic, another of the last bastions of old-school banking — the business of helping companies and countries raise capital ...

The Star:

Petronas Dagangan posts lower profit in Q2

KUALA LUMPUR: Petronas Dagangan Bhd, the country's biggest petrol station operator, said the retail market is expected to remain challenging amid rising numbers of energy efficient cars, as well as th...

The Star:

Positive close for KLCI on Maybank, Sime Plant gains

KUALA LUMPUR: Maybank, Sime Plantation and Tenaga Nasional led the FBM KLCI to a higher close on Friday as buying interest picked up in afternoon but overall trading...

KUALA LUMPUR | FBM KLCI | Tenaga Nasional | Reuters | Turnover | Sime Plantation | Maybank | Shanghai Composite Index | 0.14% | CSI300 index | US | China | RM1.74bil | Kospi | Hang Seng Index | Public Bank | Hong Leong Bank | RHB Bank | IWCity | Ekovest | Bursa | Bandar Malaysia | Singapore | STI 0.49 | South Korea | Hong Kong | Japan | AdChoicesADVERTISING | Nikkei 225 | Ambank | CIMB | GentingM | Genting | Sime Darby | PPB Group | Crude palm oil | Petronas Chemical | Petronas | Dialog | Brent | Petronas Gas | KLK | IOI Corp | RM1.74bil. | RM8.64 | RM5.57 | RM5.07 | RM20.82 | RM4.13 | RM16.98 | RM4 | RM2 | 260 | RM4.82 | RM4.38 | RM23.80 | RM18.80 | RM13.76 | RM2.14 | RM6.01 | RM3.10 | US$55.30 | US$59.81 | RM7.22 | RM23.26 | RM16 | RM3.48

The Star:

Huawei says impact of US trade curbs less than feared

HONG KONG: Chinese smartphone maker Huawei Technologies said on Friday its business has been less impacted by U.S. trade restrictions than the company had...

The Star:

Quick take: Ekovest, IWCity up in active trade again

KUALA LUMPUR: Shares in companies linked to businessman Tan Sri Lim Kang Hoo - Iskandar Waterfront City Bhd (IWCity) and Ekovest Bhd rose in active trade...

The Star:

VW explores buying stakes in Chinese auto suppliers

NEW YORK: Volkswagen AG is exploring potential investments in Chinese automotive suppliers as it seeks to secure access to key technology in the world’s largest car...

The Star:

Japan’s first minus-yield agency bond prices as rates plunge

TOKYO: A Japanese agency priced a bond with a negative yield for the first time, in a sign that such debt sales may increase in the nation amid the global tumble in interest...

The Star:

Hasbro buys Peppa Pig owner in US$4bil deal

NEW YORK: After years of longing, Hasbro Inc. can finally call itself a full-fledged entertainment company.

The Star:

Singapore cuts 2019 core inflation forecast as prices hit three-year low

SINGAPORE: Singapore's core inflation eased to its slowest pace in more than three years in July, data showed on Friday, prompting authorities to downgrade their full-year forecast amid firming bets f...

The Star:

Additional RM58b borrowings to pay previous govt's commitment, 1MDB debts, Guan Eng says

KUALA LUMPUR: The additional government borrowings of RM58bil in the first six months of this year are used to pay, among others, ongoing commitments made by the...

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The Star:

Bakery products SDS Group on expansion mode after IPO

KUALA LUMPUR: Bakery products manufacturer and distributor SDS Group Bhd, which expected to raise RM23.99mil from its proposed listing on the ACE...

The Star:

Muted trading on Bursa ahead of Powell's speech

KUALA LUMPUR: The FBM KLCI was en route to ending the week above the 1,600 mark after making little headway over the week ahead of US Federal Reserve...

The Star:

Maybank IB Research upgrades AmBank to buy with higher TP

KUALA LUMPUR: Maybank Investment Bank Research has upgraded AmBank to buy with a higher target price of RM4.75 after its stronger operating growth in the first...

The Star:

AmInvest Research sees stronger earnings for Kossan

KUALA LUMPUR: AmInvestment Research expects an even better second half for Kossan Rubber Industries...

KUALA LUMPUR | YoY | Kossan | Buy | AmInvestment Research | Kossan Rubber Industries | Hold | PBT | FY20F P/E | P/E | TRP | 1HFY19 | YoY drop | YoY increase | AmInvest Research | NR -1 | US | 2QFY19 | 1QFY19 | RM4.80 | RM114.6mil | RM1 | 112.0mil | RM975.0mil | RM129.9mil | RM478.0mil | RM61.9mil

The Star:

Public Mutual launches PB Global Opportunities Fund

KUALA LUMPUR: Public Bank’s unit Public Mutual launched the PB Global Opportunities Fund (PBGOPF) on Thursday.

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Public Mutual | PB Global Opportunities Fund | PBGOPF | Public Bank | KUALA LUMPUR | Yeoh Kim Hong | 98% | NAV | Aug 22 | Sept 11 | RM1 | 000 | RM100

The Edge Markets:

Pharmaniaga 2Q net profit leaps 72%; declares 2.5 sen interim dividend

KUALA LUMPUR (Aug 23): Pharmaniaga Bhd’s net profit for the second quarter ended June 30, 2019 (2QFY19) ballooned 72%, on the back of higher demand for its products in Indonesia and a lower tax bill...

The Edge Markets:

Wellcall 2Q19 profit up 21%, declares 1.4 sen dividend

KUALA LUMPUR (Aug 23): Wellcall Holdings Bhd net profit increased 21.3% to RM9.45 million in the third quarter ended June 30, 2019 (3QFY19) from RM7.79 million thanks to lower input costs, it said in ...

The Edge Markets:

FBM KLCI ends at intraday high ahead of Powell's speech

KUALA LUMPUR (Aug 23): The FBM KLCI closed up 6.86 points or 0.43% after an 11th-hour spike as global stock markets rose ahead of US Federal Reserve chair Jerome Powell's speech, which will offer clue...

The Edge Markets:

Meet the Yayasan Wilayah Persekutuan donors who happened to win tenders from...

This article first appeared as 'Who are YWP’s donors?' in The Edge Malaysia Weekly, on August 12, 2019 - August 18, 2019.

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Malay Mail:

Hasbro to buy ‘Peppa Pig’ owner for US$4 billion

WASHINGTON, Aug 23 — US toymaker Hasbro announced yesterday that it is acquiring studio Entertainment One, which owns popular cartoon series Peppa Pig among other children’s content, for approxima...

Malay Mail:

Swedish regulator delays Swedbank money-laundering probe report

STOCKHOLM, Aug 23 — The Swedish Financial Supervisory Authority (FSA) will publish the conclusions of its probe into alleged money laundering in the Baltics by the beginning of next year, it said to...

The Star:

Hong Kong rents set to fall as protests curb housing demand

Hong Kong: Hong Kong housing rents are set to decline as anti-government protests continue to rock the city.

The Star:

Thai economy weakens, with a twist: The baht’s too strong

THE policy torpor in Bangkok is over. After sitting out interest-rate cuts and growth warnings that have swept both the developed world and emerging markets for...

The Star:

Asia’s chocolate bonanza spurs quest for local beans

KUALA LUMPUR: Asia’s cocoa industry is scouring for ways to boost local bean supplies as the region’s chocoholics munch through more candy than ever.

The Star:

A US$53bil fund is looking for illiquid assets

HELSINKI: One of the Nordic region’s biggest pension funds is busy reducing its stash of government bonds as it hunts for far less liquid assets in the hope of generating higher returns.

The Edge Markets:

1MDB trial fixed on next Wed, six prosecution witnesses to be called

KUALA LUMPUR (Aug 23): The High Court has fixed next Wednesday (Aug 28) morning to start the trial on former Prime Minister Datuk Seri Najib Razak's alleged involvement in the 1Malaysia Development Bh...

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The Edge Markets:

RON97 up 2 sen to RM2.51 per litre for Aug 24-30, RON95 and diesel stay the same

KUALA LUMPUR (Aug 23): The retail price of RON97 will rise by 2 sen to RM2.51 a litre for the week of Aug 24-Aug 30, while the pump prices of RON95 and diesel will stay the same, according to the Fina...

KUALA LUMPUR | RON95 | RON97 | Finance Ministry | Aug 23 | Aug 24 | Aug 30 | RM2.51 | RM2.08 | RM2.18

Malay Mail:

Bursa Malaysia ends at intra day high on institutional support

KUALA LUMPUR, Aug 23 — Bursa Malaysia ended at an intra-day high backed by institutional support in selected heavyweights, especially government-linked counters at the eleventh hour.

The Edge Markets:

1MDB trial to start Aug 28

Datuk Seri Najib Razak's 1Malaysia Development Bhd (1MDB) trial is set to start at 9.30am on Wednesday (Aug 28).

Najib Razak | 1Malaysia Development Bhd | Aug 28

The Edge Markets:

Bursa says FBM KLCI price feed resumes after interruption

KUALA LUMPUR (Aug 23): Bursa Malaysia said today its FBM KLCI price feed has resumed disseminating prices since 4:25pm following nearly an one-hour long interruption.

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KUALA LUMPUR | FBM KLCI | Bursa Malaysia | Bursa | Aug 23

The Edge Markets:

FBM KLCI closes up 6.86 points at 1,609.33

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FBM KLCI

The Edge Markets:

DAP Central Executive Committee yet to decide on Yong's position — Loke

GEORGE TOWN (Aug 23): DAP’s Central Executive Committee (CEC) has yet to meet and discuss the matter involving Perak state executive councillor (exco) Paul Yong, the party’s organising secretary A...

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The Edge Markets:

MACC officer says up to court to decide on ex-SRC chief Suboh's inconsistencies...

KUALA LUMPUR (Aug 23): The investigating officer in Datuk Seri Najib Razak's SRC International Sdn Bhd case admitted that there were inconsistencies in former SRC International Sdn Bhd director Datuk ...

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The Edge Markets:

Bernama's Mokhtar Hussain promoted to editor-in-chief

KUALA LUMPUR (Aug 23): The Malaysian National News Agency (Bernama) today announced the promotion of Datuk Mokhtar Hussain as its editor-in-chief with immediate effect.

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The Edge Markets:

Transport minister checks out KLIA situation before flying to Penang

SEPANG (Aug 23): Despite the ongoing systems disruption at the Kuala Lumpur International Airport which has caused flight delays, Transport Minister Anthony Loke Siew Fook successfully boarded his fli...

The Edge Markets:

Malaysia to see healthy investment inflow from Chinese firms in 2H — Ong Kian...

KUALA LUMPUR (Aug 23): Malaysia is expected to attract quite a healthy inflow of investments from Chinese companies in the second half of the year, Deputy International Trade and Industry Minister Ong...

Malay Mail:

European shares grind higher ahead of Powell speech

LONDON, Aug 23 — European shares inched higher early today, with all eyes on a speech by US Federal Reserve Chief Jerome Powell for signs that the central bank is on course to deliver another cut in...

Malay Mail:

Sterling falls as doubts about Brexit backstop hopes grow

LONDON, Aug 23 — The pound today gave back some of the gains it made the day before as investors reassessed whether British Prime Minister Boris Johnson had made any progress in convincing the Europ...

Malay Mail:

Hong Kong unions urge Cathay Pacific to end ‘white terror’

HONG KONG, Aug 23 — Cathay Pacific Airways , which is caught in the crosswinds between authorities in Beijing and anti-government protesters in Hong Kong, must put an end to “all forms of white te...

Malay Mail:

Hong Kong stocks finish week on positive note

HONG KONG, Aug 23 — Hong Kong shares ended the week with a healthy rise today as investors look ahead to a key speech later in the day by Federal Reserve boss Jerome Powell hoping for hints at furth...

Malay Mail:

Bursa Malaysia remains mixed at mid-afternoon

KUALA LUMPUR, Aug 23 — Trading on Bursa Malaysia remained mixed at mid-day as the benchmark index inched closer to positive territory while market breadth stayed in red.

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Malay Mail:

FTSE rebounds ahead of Powell speech as Entertainment One soars

LONDON, Aug 23 ― London's FTSE 100 bounced back today ahead of US Federal Reserve Chairman Jerome Powell's much-anticipated speech, while Peppa Pig owner Entertainment One rose to a life high after ...

Malay Mail:

India Inc grows impatient as economy dips and Modi is distracted

MUMBAI, Aug 23 ― When Prime Minister Narendra Modi was re-elected in May with a sweeping majority, Indian stock markets jumped to all-time highs as investors anticipated big bang pro-business reform...

The Edge Markets:

The Edge Court Judgments Report

THIS monthly report is compiled and briefly summarised by a group of lawyers on a voluntary basis for the benefit of readers of The Edge.

The Edge Markets:

Politics and Policy: An unnecessary controversy that has divided us

"KHAT” as defined by Merriam-Webster is “a shrub of the staff tree family that is cultivated in the Middle East and Africa for its leaves and buds, which are a source of a habituating stimulant wh...

The Edge Markets:

SDS Group aims for Ace Market listing in October

KUALA LUMPUR (Aug 23): Family-run SDS Group Bhd is aiming to list on Bursa Malaysia's ACE Market on Oct 7.

The Edge Markets:

Sept 19-20 hearing for Tengku Adnan, businessman's corruption case

KUALA LUMPUR (Aug 23): The High Court here today set two days from Sept 19 for hearing of a RM1 million corruption case involving former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Man...

The Edge Markets:

Samsung Galaxy Note10 on sale, prices start from RM3,699

KUALA LUMPUR (Aug 23): The Samsung Galaxy Note10 and Note10+ smartphones are finally on sale in Malaysia, in conjunction with Samsung Malaysia Electronics's nationwide roadshow.

The Edge Markets:

MBO Cinemas and Me Books Asia collaborate to release children storybooks

KUALA LUMPUR (Aug 23): Malaysia's third largest cinema chain MBO Cinemas and storytelling app Me Books Asia are collaborating to produce a series of storybooks for children.

The Edge Markets:

Merbau is Malaysia's national tree

KUALA LUMPUR (Aug 23): The Merbau (Malacca teak) tree is Malaysia’s National Tree.

The Edge Markets:

Drugs worth US$161 million seized in Malaysia's biggest haul

KUALA LUMPUR (Aug 23): Malaysian authorities on Friday said they had seized nearly 3.7 tonnes of ketamine and cocaine worth about US$161 million in the country's biggest drugs haul to date.

The Edge Markets:

36 hours in, how bad are the KLIA disruptions now?

KUALA LUMPUR (Aug 23): The network issue at Kuala Lumpur International Airport (KLIA) which began on Wednesday night remains unresolved.

The Edge Markets:

Tony Fernandes: AirAsia's ancillary growth to compensate for M'sia processing...

KUALA LUMPUR (Aug 23): AirAsia Group Bhd group chief executive officer Tan Sri Tony Fernandes said today ancillary business growth will compensate for the loss in the budget airline's income from the ...

The Edge Markets:

Green Packet, K-Star, Mieco, Redtone, Salutica, Sealink

KUALA LUMPUR (Aug 23): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close today.

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The Edge Markets:

LTKM shareholders advised to accept takeover offer by MD

KUALA LUMPUR (Aug 23): Shareholders of LTKM Bhd have been advised to accept the takeover offer extended by the company's managing director Datuk Tan Kok and his family.

Datuk Tan Kok | Mercury Securities Sdn Bhd | Shareholders | LTKM Bhd | LTKM | KUALA LUMPUR | LTKM share | SOPV | VWAPs | PACs | Tan | LTD | Aug 23 | Aug 19 | July 18 | July 2019 | Aug 21 | 2019 | July 22 | RM1.35 | RM1.09 | RM1.20 | RM2.44 | RM2.55

The Edge Markets:

KLCI claws back to positive zone above 1,600 level

KUALA LUMPUR (Aug 23): The FBM KLCI clawed back at the midday break to reverse its earlier loss and reclaim the 1,600-point level, despite the muted regional markets.

The Edge Markets:

Sarawak governor's son wins RM2.31m in counterclaim against interior design firm

KUALA LUMPUR (Aug 23): A company owned by Sarawak Governor Tun Abdul Taib Mahmud's son won a counterclaim in the High Court in a suit initiated by a Bangsar-based interior design firm.

Malay Mail:

Indonesia tells some Jakarta supermarkets to remove 'palm oil-free' products

JAKARTA, Aug 23 ― Indonesia, the world's top palm oil producer, has told some retailers in Jakarta to remove food products with “palm oil-free” labels from their shops, a government official sai...

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Malay Mail:

Russia’s Rosneft becomes top Venezuelan oil trader, helping offset US pressure

MOSCOW, Aug 23 ― Russian state oil major Rosneft has become the main trader of Venezuelan crude, shipping oil to buyers in China and India and helping Caracas offset the loss of traditional dealers ...

The Edge Markets:

Everyday Matters: What does nationalism mean to you?

“Ask not what your country can do for you — ask what you can do for your country.” — John F Kennedy, (1917-1963) 35th president of the US There we were on Aug 4, a motley crew — five undergr...

The Edge Markets:

Perak Transit looks attractive at current price levels: TA Securities

KUALA LUMPUR (Aug 23): Perak Transit is a great buying opportunity as a domestic play that is unsusceptible to the U.S.-China trade conflict, TA Securities says.

Perak Transit | KUALA LUMPUR | TA Securities | U.S. | China | IPO | 2Q earnings | PerakTransit | Malaysian | 70% | Aug 23 | 2016

The Edge Markets:

Astro eases following data breach

KUALA LUMPUR (Aug 23): Share prices of satellite television provider, Astro Malaysia Holdings Berhad fell in early trading after it suffered another data breach, the second known leak in the span of 1...

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The Edge Markets:

Putrajaya incurred added RM58b debt to address existing commitments, says Guan...

KUALA LUMPUR (Aug 23): The additional debt of RM58.05 billion incurred by the Pakatan Harapan government in the first half of the year was made to service the existing commitments by the federal gover...

The Edge Markets:

Mahathir dismisses claims linking palm oil to deforestation

KUALA LUMPUR (Aug 23): Prime Minister Tun Dr Mahathir Mohamad today dismissed as baseless the claims linking palm oil to deforestation, saying they are unfair and unjustified.

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The Edge Markets:

Flurry of downward earnings revisions after AAX flies into whopping 2Q net loss

KUALA LUMPUR (Aug 23): Analysts have revised downwards their earnings projections for AirAsia X Bhd (AAX) after its just-announced "whopping quarterly loss", taking into account of a more conservative...

Malay Mail:

Asian stocks shaky before Powell's speech as growth woes weigh

TOKYO, Aug 23 ― Asian shares struggled to make any headway today as weak US manufacturing activity and uncertainty over how much further the Federal Reserve would cut rates added to the general air ...

The Edge Markets:

Grab recommends motorcycle-specific features under Malaysia PSV rules

KUALA LUMPUR (Aug 23): Grab said today it strongly recommends that Malaysia's Public Service Vehicle (PSV) regulations mandate the development of a separate set of stringent, motorcycle-specific safet...

The Edge Markets:

Media Prima requires significant ops overhaul — CGS-CIMB Research

KUALA LUMPUR (Aug 23): Media Prima Bhd has been downgraded to "reduce" by CGS-CIMB Research with more losses projected going forward, regardless of whether a mandatory general offer (MGO) — the only...

The Edge Markets:

KLCI pares loss, crosses 1,600 level

KUALA LUMPUR (Aug 23): The FBM KLCI pared some of its loss at mid-morning Friday and crossed the 1,600-point level, while regional markets remained shaky.

The Edge Markets:

Ringgit slightly higher at opening

KUALA LUMPUR (Aug 23): The ringgit opened slightly higher against the US dollar as investors squared off their position from holding the greenback ahead of US Federal Reserve chairman Jerome Powell sp...

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Malay Mail:

Bursa Malaysia opens lower as financial counters slide

KUALA LUMPUR, Aug 23 ― Bursa Malaysia slipped lower at the opening as heavyweight financial counters led the sell-off ahead of the widely anticipated speech by the US Federal Reserve Chair Jerome Po...

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