Malaysia New Highlights for Tuesday

Posted by Trading Advisor on 6:09 PM with No comments
  • Malaysia share prices opened higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 3.5 points to 1812.01.
  • The ringgit opened higher against the US dollar today on short covering ahead of the congressional testimony by Federal Reserve Chairman.
  • Perak Corp Bhd (PCB), a 15.74% stakeholder in Integrax Bhd, has asked Tenaga Nasional Bhd (TNB) to up its offer for Integrax to RM3.25, after rejecting its current offer of RM2.75 a share.
  • TB Supply Base Sdn Bhd (TBSB), which has received interest from over 100 companies to utilise its facilities in Tok Bali, Kelantan, will spend RM100 million in 2015 for civil works and to build facilities such as additional warehouses, Customs and Immigration building, new offices, canteen, rigging loft, crew jetty and helipad.
  • A temporary increase in the budget deficit and government debt will not tarnish Malaysia's long-term economic performance as the government's efforts to alleviate these imbalances will likely yield positive results in the near future, said Malaysian Rating Corp Bhd (MARC).
  • Petronas Chemicals Group Bhd (PCG) has teamed up with German chemical producer, BASF SE to jointly build a new production plant for 2-Ethylhexanoic Acid (2-EHAcid) at the site of their existing joint venture, BASF Petronas Chemicals Sdn Bhd.
  • Malaysian Resources Corp Bhd (MRCB) recorded a net loss of RM5.28 million in the fourth quarter ended Dec 31, 2014 (Q4) compared with a net profit of RM2.22 million a year ago on higher finance costs and higher share of losses from joint ventures.
  • Pharmaniaga Bhd's net profit rose 76.44% to RM36.7 million for its fourth quarter (Q4) ended Dec 31, 2014 from RM20.8 million in the previous year, on improved revenue and lower provision for doubtful debts.
  • Hibiscus Petroleum Bhd (Hibiscus)’s jointly-controlled entity, Lime Petroleum Norway AS (Lime Norway), has executed an agreement with Lundin Norway AS to acquire a 30 per cent stake in a prospective resources referred to ‘PL338C’, located in the North Sea.
  • Short-term interbank rates are expected to remain stable today with Bank Negara Malaysia (BNM) intervening to absorb excess liquidity from the financial system.