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AmBank Research raises fair value for PetChem image

AmBank Research raises fair value for PetChem to RM11.10, sees benefits from Swedish acquisition

KUALA LUMPUR (May 18) Petronas Chemicals Group Bhd (PetChem)’s acquisition of Swedish specialty chemical group Perstorp for€1.538 billion ( roughly RM7.018 billion) is anticipated to strengthen the group’s introductory petrochemicals portfolio and accelerate its expansion into advanced margin derivatives, specialty chemicals, and solutions, according to AmBank Research. In a research note on Wednesday (May 18), […]

Malaysia to Keep Growing Amid Potential Headwinds image

Malaysia to Keep Growing Amid Potential Headwinds From Slowdown in Major Economies

KUALA LUMPUR As its economy grew faster than agreement protuberance in the first quarter, Analysts now anticipate Malaysia’s gross domestic product to expand more than 5.0 percent this time. Indeed as the strength in the Q1 data was comforting, they advised that implicit headwinds posed by retardation in the major economies were likely to present […]

Malaysia Touts Trade Access as US Indo-Pacific Plan Only a ‘Good Beginning’

WASHINGTON (May 14) Malaysia views US President Joe Biden’s proposed Indo-Pacific economic bloc as a welcome action but sees a bigger immediate occasion in dealing with its access to a China-led trade pact to bait investment from global companies, Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said on Friday […]

Ringgit Expected to Trend Downwards on Lack of Catalysts Next Week

KUALA LUMPUR (May 14) the ringgit is expected to trend down against the US dollar next week on a lack of catalysts, according to an analyst. He said there were multiple factors that sounded to negatively affect the economic recovery instigation. Meanwhile, Bank Islam Malaysia Bhd principal economist Mohd Afzanizam Abdul Rashid said despite the […]

Strong oil and gas market lifts Malaysian economy image

Strong Oil and Gas Market Lifts Malaysian Economy in 2022

KUALA LUMPUR, May 9 — Strong oil and gas and higher commodity prices will bolster the Malaysian government’s balance sheet, leading to further structure investments, which will directly relate to gross domestic product (GDP) growth, said Juwai IQI group co-founder and group chief executive officer, Kashif Ansari. In a statement moment, Kashif said advanced revenue […]

Bursa Energy index up the most after oil prices jumped image

Bursa Energy Index Up the Most After Oil Prices Jumped 6%

KUALA LUMPUR (May 12) Bursa Malaysia’s Energy index, which tracks oil and gas ( O&G) companies’ share prices, rose about 2 on Thursday (May 12) to come the top percentage gainer among the bourse’s 30 needles following crude oil prices’6 late jump on Wednesday due to crude oil request query after overflows of Russian gas […]

India Wants Lot More Malaysian Palm Oil, Offers Countertrade That Includes Military Equipment

INDIA, which has been importing an normal of just over three million tonnes of palm oil from Malaysia over the once five times, is keen to raise its periodic significances from Malaysia by two million tonnes or about 67 over that five- time normal, and is in addresses with the Malaysian government to secure the fresh force via countertrade. This was revealed by the Indian High Commissioner to Malaysia, B N Reddy, during an interview with The Edge in Kuala Lumpur last Wednesday.Addresses started about three months back and a specific time has yet to be set on when effects have to be finalised though India — Malaysia’s […]

UOB Malaysia’s 2021 net profit up 12.2% image

UOB Malaysia 2021 net profit is up 12.2% y-o-y to RM1.14b on higher operating income

KUALA LUMPUR (May 10) UOB Malaysia said Tuesday (May 10) that the bank recorded a12.2 time-on-time (y-o-y) increase in net profit to RM1.14 billion in 2021 on advanced operating income and lower total allowance for anticipated credit losses. The bank said in a statement its total operating income grew4.3 to RM3.35 billion, on the reverse […]

RHL Ventures on Track to Closing RM300 Million Fund

KUALA LUMPUR Venture capital establishment RHL Ventures Sdn Bhd is on track to close its Hibiscus Fund at RM300 million ($71.4 million) by the middle of this time. RHL Venture co-founder and managing mate Raja Hamzah said the company’s focus is to completely commit to planting the Hibiscus fund this time and enabling its launch-ups to grow.Raja said the fund’s main ideal is to accelerate Malaysian profitable recovery by digitalizing Malaysian businesses through invention from colorful stage companies and start-ups. “This is particularly in the Series A and Series B stages. We’ve raised roughly$ 65 million and plan to close our Hibiscus Fund by the middle of this time, within the range we’ve set,” he told the News Woe Times in an interview. Managed by RHL […]

Affin Hwang Downgrades Kelington, Cuts Target Price to RM1.39

KUALA LUMPUR, May 6: Affin Hwang Investment bank downgraded Kelington Group Bhd to “hold” (from “buy”) and lowered its target price from RM2.10 to RM1.39 based on a lower earnings growth trajectory and a higher interest rate. Tan Jianyuan, Affin Hwang’s Tan Jianyuan, stated in a note that the Shanghai lockdown from late March 2022 […]