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.