by superadmin | Aug 14, 2015 | NEWS
KUALA LUMPUR: – The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped below the psychological level of 1,600 points at mid-morning today and in line with the poor performance of its regional peers, dealers said. At 11.15 am, the key index declined 23.64 points to 1,597.98. A dealer said China’s devaluation of the yuan continued to impact regional markets as well as currencies, with the ringgit touching 4.1000/4.1080 against US dollar at 10.57am. Falling commodity prices have also negatively impacted markets. US oil prices were at a 6 1/2-year low at US$42 per barrel on high stockpiles. On the broader market, losers thumped gainers 651 to 124, while 184 counters were unchanged, 841 untraded and 20 others suspended. Turnover stood at 865.56 million shares worth RM584.44 million. On the scoreboard, the FBM Emas Index lost 157.20 points to 10,972.94, the FBMT100 Index slid 147.64 points to 10,704.56 and the FBM Shariah Index depreciated 167.32 points to 11,384.93. The FBM 70 decreased 123.06 points to 11,797.99 and the FBM Ace lost 180.18 points to 5,443.98. On a sectoral basis, the Plantation Index was down 73.95 points to 6,988.79, the Finance Index slid 217 points to 14,332.19 and the Industrial Index went down 35.76 points to 3,075.13. Among actives, Ingenuity Consolidated and APFT were flat at 6.5 sen and 23.5 sen respectively, while Tiger Synergy slid half-a-sen to 9.5 sen and IFCA MSC fell 5.5 sen to 75.5 sen. Of the heavyweights, Maybank contracted 21 sen to RM8.39, Public Bank depreciated 10 sen to RM18.20, TNB trimmed 24 sen to RM10.62 and Axiata declined 12 sen to RM5.79. —...
by superadmin | Jul 14, 2015 | NEWS
GEORGE TOWN: Gamuda Berhad has emerged as one of three successful bidders for the RM27 billion Penang Transport Master Plan (TMP) The Penang government today announced the appointment of SRS Consortium – comprising Gamuda (60 per cent), Penang-based Loh Phoy Yen Holdings Sdn Bhd (20 per cent and Ideal Property Development Sdn Bhd (20 per cent) – as the successful bidders. Chief Minister Lim Guan Eng in a statement today said the TMP is aimed at mitigating traffic congestion by 2030 and ensure Penang’s prosperity beyond 2050. “After comprehensive study of all the proposals received, the State executive council on Aug 12 has appointed SRS Consortium as the project delivery partner (PDP) for the implementation of the TMP, based on their extensive expertise on mass rail transit and related public transport infrastructure, as well as large-scale township development. “Following today’s announcement, the PDP will be working closely with the State Government in the next six months to ascertain the detailed execution masterplan, engineering designs, gather public feedback, and most crucially obtain all state and federal approvals for each TMP component.” Lim said the appointed PDP will be tasked to execute the TMP with no cost-overruns and delays resulting from the non-performance of contractors. “At the same time, the PDP will employ strict safety and environment protection standards and measures to minimise the TMP’s environmental and social impact. “The State Government emphasizes that all costs and expenses incurred will be fully borne by the PDP in the event that no approvals for each TMP component is obtained from the Federal Government. “In other words the PDP fully bears the risk...
by superadmin | Apr 14, 2015 | NEWS
KUALA LUMPUR: The ringgit opened lower against the US dollar Friday as foreign banks continued to offload the local note, a currency trader said. At 9.20 am, the ringgit was quoted at 4.0360/0430 against the greenback from 4.0080/0130 at 5pm yesterday. “After taking a breather with a mild rebound against the US dollar yesterday, ringgit continued to be pressured. “External factors such as reaction to devaluation of the yuan will continue to play a major role in determining the direction of Asian currencies, including the ringgit,” a dealer said. Asian currencies weakened against the greenback following the surprise change in China’s foreign exchange policy recently, to devaluate the tightly-controlled yuan. The ringgit also traded lower against a basket of major currencies. It depreciated further against the Singapore dollar to 2.8882/8939 from 2.8725/8765 on Thursday and traded lower against the yen at 3.2420/2482 from 3.2172/2215. The local note eased against the pound sterling to 6.3022/3148 from 6.2561/2655 and weakened against the euro at 4.5014/5100 from...
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