News Highlights-

Posted by Trading Advisor on 8:17 PM with No comments
  • The ringgit opened easier against the US dollar Wednesday on profit-taking after yesterday's gains.
  • Share prices on Bursa Malaysia were lower in early trade today, tracking overnight losses on Wall Street, FBM KLCI stood at 1,796.88, down 6.29 points, after opening 8.41 points lower at 1,794.76.
  • According to a survey done by HSBC, Up to 88% of Malaysians are concerned that they will not have enough money after retiring.  it showed that the respondents here was the highest in Asia. Paying off debts is stopping them from preparing adequately (for retirement) and they see repaying their mortgage as a barrier.
  • Loss-making K-Star Sports Ltd said it will take another three years to turnaround the sports footwear maker as market conditions in China remain challenging due to the current oversupply situation in the manufacturing segment.
  • Software solution provider Systech Bhd was once again slapped with an unusual market activity (UMA) query by Bursa Malaysia yesterday following the rise in its share price and trading volume. The last UMA it received was in November last year after its share price soared by more than threefold. In response, it said it is unaware of any corporate development, rumour and other possible explanation that might have contributed to the spike in share price and trading volume.
  • Benalec Holdings Bhd will start work on its 3,485 acre Tanjung Piai Integrated Petroleum & Petrochemical Hub and Maritime Industrial Park next month, with the approval of its detailed environment impact assessment (DEIA) study by the Department of Environment (DOE).
  • The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) is still hoping for lower electricity tariff despite the government ruling out such possibility. In a statement it said Tenaga Nasional Bhd should lower electricity tariff with immediate effect to bring down the cost of doing business and to stabilise the cost of living.
  • Asia Bioenergy Technologies Bhd's (AsiaBio) proposed venture into the oil and gas transportation industry. It signed a heads of agreement (HOA) with Hoe Leong Corp Ltd (HCL), Sumatec and Reachmont Logistics Sdn Bhd (RLSB) to facilitate the acquisition of Semua Shipping Sdn Bhd (SSSB) and Semado Maritime Sdn Bhd (SMSB) for RM168 million by the group.
  • Many of the 50 largest publicly-listed insurance companies in Asia Pacific by market capitalisation have been found wanting in best practices in corporate governance, with transparency being the key shortcoming.
  • Caring Pharmacy Group Bhd's pre-tax profit for the second quarter ended Nov 30, 2014 (Q2 FY15) fell 17.18% to RM2.96 million from RM3.57 million a year ago due to lower profit margin arising from lower selling price as a result of market competition.