Garuda gets new CEO
Jakarta: Garuda Indonesia picked former telecom executive Irfan Setiaputra as its new president director, after the airline’s previous chief executive was fired for allegedly smuggling a classic Harley-Davidson motorcycle on a flight to Jakarta.
Ringgit opens almost flat against greenback
KUALA LUMPUR (Jan 23): The ringgit opened almost flat today after Bank Negara Malaysia’s (BNM) Monetary Policy Committee slashed the overnight policy rate (OPR) to 2.75 per cent from 3.0 per cent as...
Ringgit opens almost flat against US dollar
KUALA LUMPUR, Jan 23 ― The ringgit opened almost flat today after Bank Negara Malaysia’s (BNM) Monetary Policy Committee slashed the overnight policy rate (OPR) to 2.75 per cent from 3.0 per cent ...
KLCI edges lower, Tenaga weighs
KUALA LUMPUR: Bursa Malaysia fell in early Thursday trade, mirroring the cautious key Asian markets, as investors worried about the new spread of the flu-like virus in China.
Trading ideas: Rimbunan Sawit, WTK, Leader Steel, LBS, TSR Capital, CMMT
KUALA LUMPUR: Stocks to watch on Thursday include Rimbunan Sawit Bhd, WTK Holdings Bhd, Leader Steel Holdings Bhd, LBS Bina Group Bhd, TSR Capital Bhd and CapitaLand Malaysia Mall Trust (CMMT), according to JF Apex Research.
This US$1.6 trillion fund says short selling is wrong
JAPAN’S Government Pension Investment Fund (GPIF) has been a trailblazer in promoting the need to incorporate environmental, social and governance issues into the day-to-day job of portfolio construction. With US$1.6 trillion under management, it has a lot of firepower in the investing world.
Libra spurs central banks
TOKYO: The challenge posed by Facebook’s Libra cryptocurrency likely prodded major central banks to set up a new group to study the potential for issuing their own digital currencies, according to a former Bank of Japan (BoJ) executive.
Iron output uncertain on Vale charges
RIO DE JANEIRO: Vale SA was dealt back-to-back blows on Tuesday as Brazilian officials announced criminal charges including for homicide in the wake of last year’s deadly dam collapse, while a prosecutor indicated additional output cuts may be on the horizon.
Hedge fund goes climate radical
LONDON: The hedge fund industry’s British billionaire Chris Hohn is bringing his hardball tactics to the fight against global warming.
OPR cut to nine-year low
KUALA LUMPUR: Bank Negara Malaysia’s (BNM) move to cut the overnight policy rate or OPR by 25 basis points (bps) yesterday to 2.75%, while a surprise to many going by poll results prior to the annou...
Powerwell aces its debut
PETALING JAYA: Electricity distribution product manufacturer Powerwell Holdings Bhd ended its debut day on the Ace Market with a 14% increase to 28.5 sen, from its initial public offering (IPO) price of 25 sen per share.
Bursa Malaysia and Maybank join Bloomberg Gender-Equality Index
KUALA LUMPUR: Bloomberg has announced that Bursa Malaysia Bhd and Malayan Banking Bhd joined the 2020 Bloomberg Gender-Equality Index (GEI), which distinguishes companies committed to transparency in gender reporting and advancing women’s equality.
Digi Q4 profit at RM343mil
PETALING JAYA: Digi.Com Bhd’s net profit for the fourth quarter ended Dec 31,2019 fell by 9.23% year-on-year (y-o-y) to RM342.92mil from RM377.80mil in the same period a year ago.
Boeing's new CEO orders rethink on key jetliner project
LONDON/CHICAGO: Boeing Co's new chief executive has sent the aerospace giant back to the drawing board on proposals for a new mid-market aircraft, effectively shelving in their current form plans worth US$15 billion-$20 billion that had been overtaken by the 737 MAX crisis
Volvo records highest delivery
PETALING JAYA: Despite a tough year, premium carmaker Volvo Car Malaysia (VCM) recorded its highest delivery to date for 2019 with a total of 1,883 units and saw a growth of up to 36.1%
Air France-KLM not involved in MAS sale talks
DUBLIN: Air France-KLM said it had previously held talks with the owners of Malaysia Airlines Bhd (MAS), but was not engaged in current efforts to find new investors for the carrier.
Inflation up 1% in Dec, within forecast
KUALA LUMPUR: Malaysia’s inflation rose by 1% in December last year, in line with a Bloomberg forecast, underpinned by higher food prices, with Kuala Lumpur exceeding the national average.
China will keep buying palm oil from M’sia, says minister
SINGAPORE: Malaysia is unlikely to suffer any loss in its palm oil business from China, despite Beijing pledging to boost soybean purchases from the US amid the trade war, according to International Trade and Industry Minister Darell Leiking.
BNM's OPR cut surprises the market — Economists
KUALA LUMPUR (Jan 22): Bank Negara Malaysia's (BNM) decision to cut the overnight policy rate (OPR) by 25 basis points to 2.75 percent — a level not seen since March 11, 2011 — has surprised the m...
Selangor targets RM12 bil investments this year
SHAH ALAM (Jan 22): Selangor targets to achieve investments worth RM12 billion in 2020 compared with RM10 billion last year, said State Investment, Industry and Commerce, and Small and Medium Enterpri...
Don't blame others for Warisan's loss in Kimanis
KOTA KINABALU (Jan 22): Parti Warisan Sabah (Warisan) president Datuk Seri Mohd Shafie Apdal does not want other quarters blamed for the party candidate's defeat in the Kimanis Parliamentary by-electi...
10% toll discount on second Penang Bridge for CNY
BATU KAWAN (Jan 22): Jambatan Kedua Sdn Bhd (JKSB), the concessionaire for the Sultan Abdul Halim Mu'adzam Shah Bridge (JSAHMS), is offering a 10 percent discount on toll for motorists using the bridg...
US stocks bounce led by IBM, Tesla
NEW YORK, Jan 22 — Wall Street stocks bounced early today, boosted by a strong earnings report from IBM while Tesla surged above US$100 billion (RM406.6 billion) in market capitalisation.
Developments in online-only bank licensing in Asia
HONG KONG/SEOUL (Jan 22): Financial regulators across Asia are creating new rules for online-only banks, as they seek to shake up often staid markets, helped by technology companies which can operate...
Trump relaunches trade battle with Europe
DAVOS, Jan 22 — US President Donald Trump relaunched a major trade offensive against Europe today, threatening to hit the EU with damaging auto tariffs if Europeans failed to agree a long-delaye...
Trump calls Boeing a ‘big, big disappointment’
DAVOS, Jan 22 — President Donald Trump today criticised Boeing as a “very disappointing company” because of the aerospace giant’s recent problems after the grounding of the 737 MAX plane, whic...
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.
Banks fall on surprise OPR cut, glove makers rally
KUALA LUMPUR: Bank Negara Malaysia's suprise move to cut the overnight policy rate (OPR) by 25 basis points to 2.75% – the lowest since 2011 – prompted investors to cut their holdings in banks and sent the FBM KLCI into the red.
Berjaya Corp teams up with govt to promote palm oil
KUALA LUMPUR (Jan 22): As part of the ongoing Love MY Palm Oil campaign, the Ministry of Primary Industries (MPI), Malaysian Palm Oil Council and Berjaya Corp Bhd have teamed up to boost palm oil awar...
Digi posts net profit of RM1.43b in FY19
KUALA LUMPUR, Jan 22 — Digi.com Bhd posted a net profit of RM1.43 billion in its financial year ended December 31, 2019 (FY19) compared with RM1.54 billion recorded in the previous year.
New low-cost iPhone to enter mass production in February
TAIPEI: Apple Inc. suppliers plan to begin assembling a new low-cost iPhone in February, people familiar with the plan said, as the company looks to address a wider swath of the global smartphone market ahead of its 5G handsets later this year.
KLCI dips as investors weigh China virus outbreak
KUALA LUMPUR (Jan 22): The FBM KLCI settled down 0.8 point or 0.05% at Bursa Malaysia's afternoon break today as a global outbreak of a pneumonia-causing virus, which started in China, dictated world ...
Mix calls on Malaysia’s glove sector outlook
KUALA LUMPUR, Jan 22 — Maybank IB Research has upgraded its outlook on Malaysia’s gloves sector to “positive” following expectations of a strong global demand for the product.
Wuhan virus compounds Hong Kong’s economic woes
HONG KONG, Jan 22 — The emergence of a SARS-like virus in China is the last thing Hong Kong’s struggling economy needs, analysts say, as the city reels from the twin storms of the global trade war...