Bursa Malaysia News HighLights for Thrusday

Posted by Trading Advisor on 6:06 PM with No comments
  • Malaysia share prices opened flat on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.77 points to 1803.79.

  • The ringgit opened lower against the US dollar and most other major currencies on lower buying sentiment for the local unit.

  • RAM Ratings has reaffirmed the AA1/Stable rating of YTL Power International Bhd's  Medium-term note programme of up to RM5 billion (2011/2036). It continues to reflect the group's stable business profile, underscored by its diversified business base across various countries.

  • Aluminium maker Press Metal Bhd (PMB) expects its production capacity to increase by 10% to 15% this year, driven by the second phase of its RM2 billion expansion project for its aluminium smelter plant in Samalaju Industrial Park, Sarawak.

  • The Malaysian government should adopt a medium term fiscal framework to help maintain its budget discipline, said World Bank senior economist. It is useful for Malaysia to look at a broader management of contingent liabilities and fiscal risks, as well as providing an analysis of scenarios based on the expected change in oil prices going forward.

  • Government-owned UDA Holdings Bhd together with Eco World Development Group Bhd and the Employees Provident Fund Board have entered into an agreement to jointly participate in the development of Bukit Bintang City Centre (BBCC) at the former Pudu Jail site, with a gross development value (GDV) of RM8 billion.

  • The Malaysian property market will see further pressure on prices if the US Federal Reserve increases the interest rate, which would affect all Asian economies, said VPC Alliance (Malaysia) Sdn Bhd managing director.
  • The domestic equity market will not be smooth sailing this year due to expected rising treasury yields come the latter half of the year, strengthening of the US dollar and weakness in commodity prices.

  • AirAsia X Bhd (AAX) shares saw a drop of nearly 4% yesterday after it announced a fund raising exercise and changes in top management.