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Stock Market / Finance in Malaysia

  • Malaysian company secures credit line for project in Angola

    MALAYSIA, 2015/12/31 The Armanda Cabaca company, a subsidiary of Malaysian group Bumi Armada, has secured a credit line of up to US$1.12 billion with a banking syndicate to partially fund a project in Angola, the group said in a statement. The banking syndicate is led by the Oversea-Chinese Banking Corporation of Singapore and Sumitomo Mitsui Banking Corporation of Japan, and its members include the Korean Development Bank, the National Bank of Abu Dhabi, Societe Generale and Standard Chartered.
  • Malaysia's Najib frames budget to woo support, cut deficit

    MALAYSIA, 2015/11/01 Malaysia's Prime Minister Najib Razak delivered a budget on Friday to help the less well off and bolster economic growth in a country hit hard by weak global energy prices, but raised income tax rates to help bring down the fiscal deficit. Under fire over allegations of corruption at state-fund 1Malaysia Development Bhd, Najib will hope the budget measures, which included increased cash support for low income families, extra funds for affordable housing projects and higher development spending, will help soothe criticism of his leadership. A government economic report, released before the budget speech, forecast Malaysia's current account surplus would be more than halved in 2016 to 11.3 billion ringgit ($2.63 billion), extending a negative trend that has been a key factor behind the ringgit's 17 percent fall this year.
  • Bursa Malaysia’s equities market started to slow,

    MALAYSIA, 2015/01/31 High in a building in central Kuala Lumpur, not far from the twin Petronas Towers that dominate the Malaysian capital’s skyline, staff at Oriental Pacific Futures are busy broking futures for some of the group’s 1,000 or so clients. Since late last year, at the same time as trading volume on Bursa Malaysia’s equities market started to slow, there has been additional interest in trading futures in Southeast Asia’s third-major economy, says Ryan Chua, manager of dealing. “People see there’s additional volatility with futures so they are additional willing to give it a try,” he says.
  • Malaysia Development Bhd plans to raise about US$1 billion

    MALAYSIA, 2013/06/24 Sovereign wealth fund 1Malaysia Development Bhd plans to raise about US$1 billion through a public listing of its power assets in Malaysia next year, Dow Jones Newswires has reported. The proposed initial public offering is the new in a string of announced or rumored listings that could return Malaysia to the ranks of top regional IPO markets. The funds raised through the share sale will help pay off some of the debts of the Malaysian investment company, Dow Jones said in its statement Monday, quoting people familiar with the plans. 
  • Ringgit rises to highest since August 2011

    MALAYSIA, 2013/05/07 Malaysia’s ringgit strengthened to its highest since August 2011 and government bonds rose next Prime Minister Datuk Seri Najib Razak’s coalition retained power in the weekend poll, bolstering the outlook for economic reforms. Najib’s Barisan Nasional alliance, as well known as the National Front, won 133 of 222 parliamentary seats in the May 5 election, extending a 55-year policy.
  • Reducing Malaysia’s debt burden

    MALAYSIA, 2013/04/28 At 52.9 % of GDP in 2012, Malaysia’s public deficit level is nowhere near those of a lot of advanced economies, with much of the deficit increase due to the 6.7 % fiscal deficit incurred during the Great Recession. From presently on public sector deficit remains far above the regional average and, while not in itself dangerous, limits the government’s ability to counteract next crises.
  • Investment program

    MALAYSIA, 2013/03/12 The Economic Transformation Programme (ETP) will continue to attract both local and foreign investor interest to the Malaysian property sector, said Performance Management and Delivery Unit (Pemandu) chief executive and minister in the Prime Minister's Department Idris Jala.
  • Stable outlook for Malaysian growth

    MALAYSIA, 2012/12/22 Malaysia's economic outlook should remain stable next year with the support of domestic consumption and investments, which will continue to be resilient, said an International Monetary Fund (IMF) representative. Malaysia's gross domestic product (GDP) next year should be strong, according to Dr Rodrigo Cubero, IMF deputy division chief of Asia and Pacific department. “We see strength in domestic request and investments, and expect them to remain robust in Malaysia entering 2013,” he told reporters after delivering a public lecture on “The World and Asia and Pacific Economies: Outlook and Risks” in Kuala Lumpur on Tuesday.
  • Dewan Rakyat approves 2013 Budget

    MALAYSIA, 2012/12/11 The Dewan Rakyat today approved the Supply Bill 2013 (Budget 2013) totalling RM251.6 billion. The bill was approved at about 5.30 pm at the third reading, and was announced by Speaker Tan Sri Pandikar Amin Mulia. Prime Minister Datuk Seri Najib Tun Razak had tabled on Sept 28 the budget which had allocated RM201.9 billion for operating spending and RM49.7 billion for development spending. The Dewan Rakyat will sit again on Monday. — Bernama