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Foreign funds batter Bursa, send KLCI into tail spin

KUALA LUMPUR: Sustained foreign selling on Bursa Malaysia sent the FBM KLCI into a tail spin early Thursday as the 30-stock index fell below the critical 1,800 level with more downside seen. At 9.19am, the KLCI was down...

Guan Eng orders 1MDB to come clean on ability to service debts

KUALA LUMPUR: New Finance Minister Lim Guan Eng has ordered 1Malaysia Development Bhd (1MDB) to brief him on the company’s ability to make the RM143.75mil interest payment due on May 30. “Besides the RM143.75mil that is...

CIMB Research cautious on construction as HSR, ECRL under review

KUALA LUMPUR: CIMB Equities Research is underweight on the construction sector as it sees pessimism brewing for Gamuda, YTL Corp and MRCB as the new federal government reviews the large-scale construction projects. It s...

Malaysia can meet fiscal deficit target even after GST is removed

PETALING JAYA: The audacious move by the Pakatan Harapan government to abolish the goods and services tax (GST) may not necessarily derail Malaysia from its fiscal deficit target, as feared by many economic pundits. Whi...

Higher oil prices to weigh on AirAsia X

KUALA LUMPUR: CIMB Equities Research expects significantly weaker performance for the rest of the year for long-haul low-cost carrier AirAsia X  due to higher oil prices, with FY18F estimated to be loss-making. The res...

Moody’s sees SST, high oil price to offset GST but not long-term solution

KUALA LUMPUR: Moody's Investors Service forecasts the introduction of the Sales and Services Tax (SST) and higher crude oil price to offset the zeroising of the 6% Goods and Services Tax (GST) which takes effect on June ...

US DOJ says pursuing investigations related to Malaysia’s 1MDB

KUALA LUMPUR: The U.S Department of Justice said on Tuesday it would continue to pursue investigations into 1 Malaysia Development Berhad (1MDB) and looked forward to working with Malaysian law enforcement authorities, w...

EPF buys Polish retail mall for RM1.4bil

PETALING JAYA: The Employees Provident Fund (EPF) has bought a retail mall in Poland but declined to say for how much or the annual net yield for the investment. A source from Britain said the EPF bought it for “close t...

Ringgit higher against US$ on renewed interest in emerging currencies

KUALA LUMPUR: The ringgit rebounded to be higher against the US dollar early Tuesday on renewed interest in emerging currencies, said dealers. At 9.05 am(0105gmt), the local note was quoted at 3.9680/9730 versus the gre...

CMS sees boost to bottomline on demand from Pan Borneo Highway

KUCHING: Cahya Mata Sarawak Bhd  (CMS) expects to see a boost to its bottomline with increasing demand for its construction materials from the ongoing Pan Borneo Highway project. Newly appointed group chief executive...

Onshore financial market activities continue to operate effectively

KUALA LUMPUR: The Malaysian onshore financial markets activities continued to operate effectively during the first week after the general election, recording a healthy daily average FX transaction volume of US$15 billion...

Fiscal deficit target within reach

PETALING JAYA: With the pressure mounting to narrow the country’s fiscal deficit to below the projected 3% of the gross domestic product (GDP) level for this year, some economists are optimistic the Pakatan Harapan gover...

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