Malaysia: Shares open higher

Malaysia share prices opened higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 8.29 points to 1,830.12.

Volume was 100.56 million lots worth RM74.1 million.
Gainers outnumbered losers 215 to 76.

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Stocks to watch: CCFH, Sino Construction, IPC, KepCorp, A-Reit

THE following stocks had announcements or developments that could affect trading activity on Tuesday.

CCFH: The company intends to diversify into fund management, helicopter leasing, and solar plants in the Caribbean islands. The Catalist-listed group owns bedlinen brand Friven.

Sino Construction: Its share price rose 20.7 per cent to 3.5 Singapore cents on Monday, after the company said it would raise S$6.5 million through the placement of 262 million new shares.

IPC Corporation: The company is in negotiations to sell its remaining seven hotels in Japan. The proposed sale price for the properties is in the region of S$150 million subject to agreement between the parties.

Keppel Corp: Its shareholding in Keppel Land had inched up 0.5 percentage point to 93.9 per cent by 5pm on Monday. This is still 1.6 percentage points short of the 95.5 per cent compulsory acquisition threshold for the higher offer price of S$4.60 per share to kick in. The final closing deadline of the offer is 5.30pm on March 31.

Ascendas Real Estate Investment Trust (A-Reit): It has completed the acquisition of The Kendall at 50 Science Park Road for a purchase consideration of S$112 million from Singapore Science Park Ltd, a wholly owned subsidiary of Ascendas Group, the sponsor of A-Reit.

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Malaysia: Shares open higher

Malaysia share prices opened higher on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 2.38 points to 1,815.75.

Volume was 108.7 million lots worth RM36.7 million.
Gainers outnumbered losers 119 to 85.

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KLCI news Highlights for Wednesday

• Share prices on Bursa Malaysia opened firmer today riding on Tuesday’s uptrend momentum.  The benchmark FTSE Bursa Malaysia KLCI stood at 1,820.7, up 6.66 points after opening 1.61 points lower at 1,812.43.
• The slump in crude oil prices and the weaker global economy are expected to weigh down on Malaysia’s export growth.
• Fajarbaru Builder Group Bhd has got a RM109 million Kelana Jaya line extension project job from Prasarana Malaysia Bhd.  Which is expected to affect the Group’s earnings and net assets in a positive manner.
• The State Bank of Vietnam (SBV) has allowed Malaysia's Public Bank Bhd to acquire all stakes owned by Vietnamese lender BIDV in their $62.6 million joint venture VID Public Bank.
• Kenanga Investment Bank Bhd is issuing 8 new European style cash-settled call warrants (CW) over ordinary shares of Bumi Armada Bhd (Armada), Astro Malaysia Holdings Bhd (Astro),  CIMB Group Holdings Bhd (CIMB), Datasonic Group Bhd (Dsonic), Inari Amertron Bhd (Inari), Mah Sing Group Bhd (MahSing), Pos Malaysia Bhd (Pos) and UOA Development Bhd (UoaDev).  The warrants will be listed tomorrow at the structured warrants board of Bursa Malaysia with an issue size of up to 100 million each. The main focus is on the trading/services, properties and technology sector.  The new call warrants are priced at 15 sen each with effective gearing ranging from 2.66 times to 4.58 times.
• Sime Darby Bhd which had secured 98.8% of NBPOL will compulsorily acquire all the remaining New Britain Palm Oil Ltd (NBPOL) shares under the proposed privatisation of the in UK and Papua New Guinea-listed company.
• Berjaya Land Bhd's (BLand) third quarter ended Jan 31, 2015 (Q3) pre-tax profit shows an increased by 7.8% to RM81.3 million from RM75.4 million due to higher profit from its principal subsidiary,  Berjaya Sports Toto Bhd (BToto) and a RM18 million refund after the aborted listing of Sports Toto Malaysia Trust on the Singapore Exchange Securities Trading Limited.
• Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed mentioned that Malaysia expects growth in the export of electrical & electronics (E&E) products to almost halve this year to between 4% and 5%,  compared with the 8.1% achieved in 2014,  
• Integrax Bhd's major shareholder and co-founder Amin Halim Rasip is continuing his campaign against Tenaga Nasional Bhd's offer for Integrax, urging Perak Corp Bhd (PCB)  to reconsider its recommendation for the acceptance of TNB's RM3.25 a share offer at an extraordinary general meeting (EGM) to be held this Friday.
• Motor insurer Pacific & Orient Bhd (P&O) is cautious on its business outlook for the financial year ending Sept 30, 2015 in view of the uncertainties in the global economy.

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ECONOMIC FACTORS for KLCI today(Tuesday)

• Malaysia's ringgit rose the most in a month on growing speculation the Federal Reserve will delay raising interest rates until the second half, supporting demand for the nation's stocks and bonds.The ringgit gained 0.7 per cent, the biggest advance since Feb 25, to 3.7060 a dollar

• Bank Negara Malaysia said it will review the global economic conditions but stressed that the country's interest rates remain

• The Consumer Price Index grew by only an annualised 0.1 per cent in February from 1.0 per cent in January.

• Parkson Holdings Bhd (PHB) was moved to issue a statement to shore up investors confidence in the group after its share price accommodative and supportive of the economy continued its downtrend to close at RM1.99 last Friday, from heaving selling pressure which started more than a week ago.

• The majority shareholders of Qualitas Healthcare Corp Bhd have postponed the initial public offering (IPO) of Qualitas that was slated for listing next month.

•  The major shareholder of Hunza Properties Bhd has proposed to take the Penang-based property company private at RM2.50 a share.

• Christoph Mueller will assume his role as Malaysian Airline System Bhd (MAS) managing director and CEO effective May 1 instead of July 1 as initially planned.

• Allianz Malaysia Bhd, one of the largest listed insurance players in the country, sees 2015 as a very challenging year for the company and the industry per se as it grapples with the economic uncertainties further compounded by the fall in oil prices.

• Halex Holdings Bhd's wholly-owned unit, Halex Realty Sdn Bhd, has entered into a conditional share acquisition agreement with

• Bestempire Ltd to purchase the remaining 75 per cent equity interest in Kensington Development Sdn Bhd for RM21 million

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KLSE Stock Highlights Tuesday

• Malaysia share prices opened higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 2.90points to 1,798.75.

• The ringgit extended yesterday’s rally against the US dollar on continued buying interest.

• Malayan Banking Bhd (Maybank) was ranked one of the "Top 100 Global Bank Brands", with a brand rating of AA+ in 2015, moving up to 91st position from 93rd in 2014.

• Foreign funds bought back Malaysian equity last week after two weeks of relatively intense selling, despite rating agency Fitch raising the odds that it may downgrade the country's sovereign rating.

• Fordington Pte Ltd has extended the closing date for the unconditional take-over offer for Yokohama Industries Bhd from March 25 to April 8.

• APFT Bhd's wholly-owned subsidiary, APFT Services Sdn Bhd has yesterday entered into a sale and purchase agreement with Solaire Sdn Bhd to dispose its used Robinson R66 Turbine Helicopter for US$870,000.

• Tanjung Offshore Bhd's substantial shareholder Tan Sri Tan Kean Soon, appears to have turned the tide at Tanjung Offshore, managing to uplift a suspension on his role in the company, get re-designated to an executive role and appoint three others on the board without going through with an extraordinary general meeting (EGM).

• Perak Corp Bhd (PCB) has rejected Amin Halim Rasip’s offer to buy its 5% stake in Integrax Bhd saying that Tenaga Nasional Bhd's (TNB) offer is "superior" to his despite him offering a higher price.

• Kejuruteraan Samudra Timur Bhd (KSTB) has received a take over offer from its major shareholders for 48 sen a share, just a week before it is due to submit its regularisation plan.

• Hibiscus Petroleum Bhd's jointly-controlled entity, Lime Petroleum Norway AS (Lime Norway) has secured a NOK700 million (RM323 million) loan to fund its four drilling programmes in 2015.
  

• After its failed venture into the silver mining business, loss-making precision parts manufacturer Notion VTec Bhd is diving into the mobile phone business with the launch of its smartphone brand "Trendi" in May this year.

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Ringgit rises most in a month on bet Fed to hold rates past June

KLSE stock picks [KUALA LUMPUR] Malaysia's ringgit rose the most in a month on growing speculation the Federal Reserve will delay raising interest rates until the second half, supporting demand for the nation's stocks and bonds.

The ringgit gained 0.7 per cent, the biggest advance since Feb 25, to 3.7060 a dollar as of 9:46 am in Kuala Lumpur, data compiled by Bloomberg show. The Bloomberg Dollar Spot Index was little changed after posting its steepest loss last week since 2011.

Atlanta Fed President Dennis Lockhart and Chicago Fed chief Charles Evans acknowledged that a stronger dollar was a headwind to economic growth, after the central bank indicated it will go slowly with policy tightening once it starts. That may help ease pressure on the ringgit, Asia's worst-performing currency in the past six months, after Fitch Ratings warned last week that there's more than a 50 per cent chance of a credit downgrade.

"The markets have become more confident of the Fed delaying rate hikes," said Masashi Murata, a currency strategist at Brown Brothers Harriman & Co in Tokyo. "They have priced in that the Fed would likely start to hike rates in September, not June." The FTSE Bursa Malaysia KLCI Index of shares rose 0.3 per cent Monday, adding to last week's 1.2 per cent increase. Five-year government bonds were steady after the yield fell three basis points to 3.64 per cent in the five days to March 20.

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Hot Stock Noble surges as it readies to sue following third Iceberg report

SHARES of Noble Group rose 3.4 per cent on heavy trading on Monday, after the company said it will start legal proceedings following the third Iceberg report.

The counter gained three Singapore cents to S$0.905. It was the most actively traded stock in early morning trade, with nearly 16 million shares changing hands.

Noble said it will start legal proceedings against Hong Kong resident Arnaud Vagner, Enlighten Ace Ltd, a Seychelles company, and any associates, at the Hong Kong High Court "for conspiracy to injure Noble Group".

"Noble Group refers to the statements made by Iceberg Research in their three reports. We reject their allegations as inaccurate, unreliable and misleading," the company said in a statement on Monday.

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Malaysia: Shares open lower on Monday

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 5.09points to 1,798.56

Volume was about 142 million lots worth RM64 million. Gainers outnumbered losers 156 to 100.

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Market Forecast for week ahead-

The trend of market is expected to be bullish for this week . Currently we have seen unusual volatility in markets due to Federal Reserve meeting. We may see bullish really in next week trading session because it has taken rebound from 3374 and we may expect that it will reach up to 3456.

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Stocks to watch: Noble Group, Cambridge Industrial Trust, S-Reits

NOBLE Group on Monday said it will start legal proceedings against Hong Kong resident Arnaud Vagner, Enlighten Ace Ltd, a Seychelles company, and any associates, at the Hong Kong High Court "for conspiracy to injure Noble Group".

THE manager of Cambridge Industrial Trust (CIT) said on Monday that RBC Investor Services Trust Singapore Limited, in its capacity as trustee of CIT, has agreed to buy the remaining 40 per cent it does not own of Cambridge SPV1 LLP for S$11 million. The stake in Cambridge SPV1 LLP - which holds an industrial property at 3 Tuas South Avenue 4 - will be purchased from Oxley Projects Pte Ltd.

SINGAPORE Reits offer value against their Hong Kong and US peers, said Pearly Yap, a portfolio manager with Eastspring Investments, in an interview with The Business Times. But the depreciating Singapore dollar, and too many leveraged private clients in local Reits in the face of an interest rate hike, are causes for concern.

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Singapore's STI up 4.21 points at opening, tracing gains in US, Europe

SINGAPORE Stock Picks[SGX]- Singapore share prices opened higher on Monday with the Straits Times Index (STI) up 4.21 points to 3,416.65 as at 9.08 am, following gains in US and European markets on Friday.

Top gainers in early morning trade included UOB, DBS and Singapore Exchange. Shares of Noble Group rose on heavy trading after the company said it will start legal proceedings following the third Iceberg report.

Some 86.7 million shares worth S$120.9 million changed hands, with gainers outnumbering losers 85 to 56.

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ECONOMIC FACTORS Of KLCI March week 3rd

Technical indicators:

RSI for this week is 50.537 with CCI at 29.138. Besides, difference line of MACD -5.540 and crossed its signal line 11.385.

 

ECONOMIC FACTORS:

• The ringgit is  expected to to depreciate further to 3.95 against the dollar by September, before ending the year at RM3.82, boosting exports and  trade surplus.
• Fitch Ratings' likely downgrade of Malaysia's rating does not reflect the country's true economic fundamentals, says Minister in the Prime Minister's Department.
• Foreign investors remain optimistic about the country's economic and business prospects despite Fitch Ratings’ possible downgrade of     Malaysia’s sovereign rating.   
• Kian Joo Can     Factory Bhd and Aspire Insight Sdn Bhd have agreed to extend the deadline for the fulfillment of all conditions in regards to Kian Joo's plan to dispose of entire business to Aspire Insight.
• Crest Builder     Holdings Bhd's subsidiary Crest Builder Sdn Bhd has clinched a RM197.82 million contract from UDA Holdings Bhd for the construction of super-structure works of a 30-storey serviced apartments in Kuala Lumpur.
• Malaysia Airports Holdings Bhd (MAHB) has signed a long-term concession agreement with National Aerospace and Defence Industries to support the government's initiative to enhance the development of aerospace industry in Malaysia.
• Petron Malaysia is expected to invest over US$1 billion (RM3.7 billion) over the next     few years in the country.
• Property developer KSL Holdings Bhd has set a dividend policy of paying a minimum of  40% of annual core net profit from operations, excluding fair value gains, to shareholders with effect from the financial year ending Dec 31, 2015.
• Asia Brands Bhd has proposed to raise RM100 million through the issuance of 15-year     Islamic notes. In a filing with Bursa Malaysia, it said proceeds will be used for syariah-compliant purposes only, including financing investments, capital expenditure, working capital and     other corporate purposes.   
• IJM Corp Bhd has appointed Datuk Soam Heng Choon as its CEO and managing director effective April 6, 2015, replacing current CEO and managing director.    
  
  

A joint initiative between the Construction Industry Development Board (CIDB) and Germany-based Bayer MaterialScience for affordable housing solutions will see lower prices for properties.

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Weekly wrap of KLCI March 3rd week

The week started with gap down opening. The FBM KLCI index lost 5.48 points or 0.30% on Friday. The Finance Index fell 0.40% to 15968.45 points, the Properties Index up 0.00% to 1303.7 points and the Plantation Index down 0.11% to 7802.05 points. The market traded within a range of 8.16 points between an intra-day high of 1806.90 and a low of 1798.74 during the session.

 

The KLCI dropped 5.48 points to end at 1803.65 points, taking cue from lower overnight closing in Wall Street. The performance of our benchmark index was dragged down by selling in banking counters.

 

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Malaysia News Highlights for Thrusday

Malaysia News

• Malaysia share prices opened higher on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 6.21 points to 1798.22.

• Compugates Holdings Bhd (CHB) is proposing a renounceable rights issue of up to 304.9 million redeemable preferance shares (RPS) together with up to 304.9 million free detachable warrants to raise up to RM30.49 million.

• Kian Joo Can Factory Bhd and Aspire Insight Sdn Bhd have agreed to extend the deadline for the fulfillment of all conditions in regards to Kian Joo's plan to dispose of entire business to Aspire Insight.

• Top Glove Corp Bhd is on the lookout for potential mergers and acquisitions (M&As) in rubber glove-related businesses, as part of its plans to expand its business to meet the strong demand in natural rubber gloves.

• The Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) seized goods worth RM436,568.70 in its anti-profiteering operation from Jan 15 to March 17.

• Crest Builder Holdings Bhd's subsidiary Crest Builder Sdn Bhd has clinched a RM197.82 million contract from UDA Holdings Bhd for the construction of super-structure works of a 30-storey serviced apartments in Kuala Lumpur.

• Tanjung Offshore Bhd's non-independent, non-executive director Tan Sri Tan Kean Soon, who has called for an EGM to remove three directors, plans to carry a forensic audit on all the deals in the group after the EGM.

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Malaysian Shares open higher on Wednesday

Malaysia stock news[KLSE]- MALAYSIA share prices opened higher on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 2.17 points to 1790.04.

Volume was 150 million lots worth RM44 million.

Losers outnumbered gainers 104 to 102.

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Hot stock SIA shares soar in early-morning trade

Singapore Stock tips[SGX]- SHARES of Singapore Airlines (SIA) soared in early-morning trading on Wednesday to S$12.04, up 24 Singapore cents or 2.03 per cent, as at 10.23am, making it one of the top gainers on Singapore Exchange.

The movements come after SIA confirmed on Tuesday that it is in talks to potentially acquire a stake in South Korea's budget carrier Jeju Air, which would give it a foothold in the buoyant North Asian market.

It had said that the discussions may not result in a transaction and that the airline would make further announcements as necessary.

SIA, Jeju Air and the latter's parent Aekyung Group started talks late last year over a possible stake sale, Reuters had said, quoting a Jeju Air spokesman. A report out of South Korea suggests that the stake could be in the region of 20 per cent.

The proposed acquisition comes as the SIA group - which includes regional wing SilkAir as well as budget subsidiaries Scoot and Tigerair - faces formidable competition from full-service and low-cost carriers alike, which has been putting pressure on margins.

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SGX issues 'trade with caution' warning on Civmec

SINGAPORE Exchange (SGX) on Wednesday morning issued a "trade with caution" regarding Civmec Limited, an investment holding company that provides heavy engineering and construction services to resources and infrastructure sectors in Australia.

The caution comes after SGX issued a query on Tuesday regarding Civmec's substantial decrease in share price by 20.7 per cent between March 13 and 17.

Civmec had responded on the same day that it was not aware of any reasons that could possibly explain the trading in its securities.

SGX said in view of the trading activities observed and Civmec's response, shareholders and potential investors should exercise caution in dealing with the securities. As at 10.04am, the counter fell two Singapore cents to S$0.48.

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Malaysia News Highlights for Tuesday-

Malaysia KLSE Stock Picks-

• Malaysia share prices opened higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 4.50 points to 1785.02.

• The ringgit opened slightly higher against the US dollar this morning, on renewed buying interest.

• Foreign selldown of Malaysia-listed equities intensified to RM1.16 billion last week, exceeding RM1 billion for the second time this year, but heavy foreign selling is not expected to persist this week.

• Property developer KSL Holdings Bhd has set a dividend policy of paying a minimum of 40% of annual core net profit from operations, excluding fair value gains, to shareholders with effect from the financial year ending Dec 31, 2015.

• Asia Brands Bhd has proposed to raise RM100 million through the issuance of 15-year Islamic notes. In a filing with Bursa Malaysia, it said proceeds will be used for syariah-compliant purposes only, including financing investments, capital expenditure, working capital and other corporate purposes.

• Astino Bhd's subsidiary Astino Agro-House Multi System Sdn Bhd (AAH) has proposed to buy three parcels of land in Penang for RM19.47 million.

• IJM Corp Bhd has appointed Datuk Soam Heng Choon as its CEO and managing director effective April 6, 2015, replacing current CEO and managing director.

• A joint initiative between the Construction Industry Development Board (CIDB) and Germany-based Bayer MaterialScience for affordable housing solutions will see lower prices for properties.

• PUC Founder (MSC) Bhd's subsidiary MaxGreen Energy Sdn Bhd (MGE) has become a Feed-in-Tariff Approval Holder by the Sustainable Energy Development Authority Malaysia to develop and operate a solar photovoltaic plant with 1 megawatt power (MWp) capacity to produce electricity to be supplied to Tenaga Nasional Bhd (TNB).

• Gabungan AQRS Bhd and Suria Capital Holdings Bhd will be working together to develop a mixed development with an estimated net sale value (NSV) of RM1.8 billion within the vicinity of Kota Kinabalu Port.

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Stocks to watch: Vard, Singapore Press Holdings

SHIPBUILDER Vard Holdings said on Saturday two affiliates of a customer, E.R. Offshore, have filed for insolvency at a local court in Germany.Consequently, it has terminated two shipbuilding contracts for one platform supply vessel per affiliate, the company said.

Singapore Press Holdings (SPH) has invested S$2 million in a data analysis firm for a 20 per cent stake. DC Frontiers owns and operates the Handshakes app, which applies social network analysis to capital markets. SPH publishes The Business Times.

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Malaysian Shares open lower on Monday

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 5.29 points to 1776.46.

Volume was 130 million lots worth RM35 million.

Losers outnumbered gainers 103 to 97.

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Malaysia News Highlights for Friday

• Malaysia share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.25 points to 1784.98.

• CIMB Group Bhd yesterday announced several key leadership appointments, including the appointment of Tigor M. Siahaan as president director of CIMB Niaga.

• Lee Swee Kiat Group Bhd has received an unusual market activity (UMA) query from Bursa Malaysia after its share price jumped 9.52% yesterday.

• Yinson Holdings Bhd, via its indirect wholly-owned unit, Yinson Production (West Africa) Pte Ltd (YPWA) has secured a US$780 million (RM2.88 billion) term loan facility with five major banks to part finance its project in Ghana.

• Quill Capital Trust (QCT), which yesterday received shareholders' nod for the acquisition of Platinum Sentral from Malaysia Resources Corp Bhd (MRCB) for RM740 million, aims to double its total assets value to RM3.2 billion within the next one to two years.

• Bank of America Merrill Lynch Global Research expects Bank Negara Malaysia (BNM) to cut its policy rate by 25bps by the third quarter of 2015, as the central bank shifts its monetary policy focus to growth and away from inflation.

• The federal government's debt position remains manageable and is categorised as a moderate-indebtedness country, according to the Ministry of Finance (MOF).

• Bursa Malaysia Securities has cautioned investors for the trading in Wintoni Group Bhd securities following a sharp spike in its share price. The regulator said investors should made known of Wintoni's response to the UMA query, that it was not aware of any corporate development or explanation that could give rise to the unusual trading.

• Petroliam Nasional Bhd (Petronas) has priced a US$5 billion (RM18.5 billion) multi-tranche offering comprising a US$1.25 billion 5-year sukuk and US$750 million 7-year, US$1.5 billion 10-year and US$1.5 billion 30-year conventional notes.

• The intra-Asean trade which has been on an increasing trend over the years is expected to surpass the global average by 2% to 3% this year, said Minister of International Trade and Industry.

• Malaysia's industrial production index (IPI), which grew anuary 2015 IPI growth of 7% in January from 3.7% a year ago, is expected to be commendable for the first quarter of 2015 to cushion the impact of economic uncertainty.

• The Saudi-based oil exploration and services company PetroSaudi International (PSI) has today dismissed as inaccurate online criticisms of its former joint venture with the Malaysian strategic development company, 1Malaysia Development Bhd (1MDB).

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Singapore: Wall St's Tues blowout weighs on local stocks

Singapore[SGX}TRADERS who bet that the Straits Times Index's Tuesday weakness foretold a plunge ahead on Wall Street would have got it right as the US market closed weaker during its Tuesday session. However, even though those traders would have got the direction right, few would have anticipated the size of Wall Street's plunge - the Dow Jones Industrial Average lost 1.9 per cent and the S&P 500 1.7 per cent.

A sudden upward burst in the US dollar was blamed for Wall St's blowout, though underlying the move was probably the spectre of interest rates being raised sooner rather than later. Whatever the case, the outcome was yet more selling here that pulled the Straits Times Index 19.67 points down to 3,378.59 - its third consecutive fall this week.

Turnover, which has hovered around the S$1.2 billion mark for the previous few sessions, amounted to 1.4 billion units worth S$1.2 billion and excluding warrants, there were 114 rises versus 309 falls.

Index stocks that contributed the most to the fall were the banks and Jardine group. Genting Singapore also continued its recent downtrend on worries over its earnings in view of slower VIP traffic, the counter slipping S$0.005 to S$0.93 on volume of 31 million. In the buying-in market, the largest trade was one million Genting shares bought-in at S$0.945 per share.

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Malaysia central bank sees slower growth in 2015, sliding oil prices a risk

KUALA LUMPUR[KLSE] Malaysia's economy is expected to expand 4.5 to 5.5 per cent this year as strong domestic demand and resilient exports will anchor growth, although the risks of declining oil prices affecting its outlook linger, the central bank said on Wednesday.

Southeast Asia's second-largest oil and natural gas producer has seen slumping global energy prices hit revenue, putting pressure on the country's fiscal position and knocking the ringgit to a six-year low.

Problems stemming from a heavily-indebted investment fund, 1Malaysia Development Bhd and the prospect of the first rise in US interest rates in almost a decade, have also added to the risk of a sovereign downgrade and capital outflows.

Bank Negara, in its annual outlook, said growth would be supported by sustained expansion in services, manufacturing and construction sectors, broadening of the government's revenue base and from managing expenditure.

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Singapore-listed Noble chairman boosts stake as stock falls

SINGAPORE[SGX} The chairman of Singapore-listed Noble Group, Richard Elman, has boosted his stake in the firm, according to a filing on Wednesday, after the shares dropped to more than a one-year low.

Noble shares have been under pressure since mid-February after a little known firm Iceberg Research raised questions about the company's accounting practises, claims denied by Noble.

Mr Elman increased his stake to 20.956 per cent from 20.926 per cent, the filing showed.

Noble shares slumped as much as 5.3 per cent to the lowest since late January 2014 on Wednesday before closing 1.6 per cent lower.

Noble was founded by Mr Elman in 1987 and currently ranks as one of Asia's biggest commodities trading firms

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Malaysia Shares open higher on Thursday

MALAYSIA[KLSE] share prices opened higher on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 3.31 points to 1781.47.

Volume was 82.25 million lots worth RM23.41 million.

Gainers outnumbered losers 117 to 53.

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Singdollar bond market surges, S$1.1b raised in March so far

[SGX] THE Singapore dollar bond market is perking up, with funds raised so far this month more than three times the amount in the same period last year, as issuers dangle higher yields.

Including Wednesday's CWT Ltd issue, there have been eight issues, with over S$1.1 billion.

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