Malaysian Stock News Highlights for Friday

Posted by Trading Advisor on 1:06 PM with No comments
  • Malaysia share prices opened higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 5.87 points to 1806.31  lifted by firmer external sentiment following gains overnight gains on Wall Street.
  • The ringgit opened higher against the US dollar Friday on renewed demand for the domestic currency. Against other currencies like Euro, Singapore dollar, Yen and pound, the domestic currency traded mostly higher.
  • Lower oil prices led to fuel subsidy reforms in Malaysia (A3 positive), Indonesia (Baa3 stable) and India (Baa3 stable), supporting their sovereign credit profiles, says Moody's Investors Service. But in Indonesia and Malaysia, lower hydrocarbon-related government revenues will erode the impact of these gains on the budget balance.
  • The State Secretary, Johor (SSI Johor) is taking a 10% stake in two terminals at Petroliam Nasional Bhd's (Petronas) Pengerang Integrated Complex (PIC).
  • YNH Property Bhd has appointed Hilton Worldwide Manage Ltd to manage its proposed hotel, to be branded "Hilton Kuala Lumpur City Centre & Residences" in Menara YNH in Kuala Lumpur.
  • Masterskill Education Group Bhd (MEGB) plans to dispose properties in Selangor and Johor to Brilland Property Sdn Bhd, a company controlled by major shareholder and executive director Siva Kumar M. Jeyapalan, for RM79.7 million cash.
  • Malaysia Marine and Heavy Engineering Holdings Bhd's (MMHE) net profit for the fourth quarter ended Dec 31, 2014 fell 84% to RM16.48 million from RM102.03 million due to lower profit from the offshore and marine segments.
  • Malaysia's trade and exports are expected to grow at a moderate pace of 2% to 3% each this year, lower than the 5.9% and 6.4% achieved respectively in 2014, said Minister of International Trade and Industry.
  • The Bukit Bintang City Centre (BBCC) development among landowner UDA Holdings Bhd, the Employees Provident Fund (EPF) and Eco World Development Group Bhd (Eco World) is expected to see more land deals between the EPF and Eco World.