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BNM cuts OPR by 25 bp to 2.50%
KUALA LUMPUR: The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) decided to reduce the Overnight Policy Rate (OPR) by 25 basis points to 2.50% at its meeting today. In a statement today, BNM said the ceiling and floor
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Political intervention in corruption case involving UMNO leaders
I refer to statements by political and non-political parties calling for no political intervention in the case of corruption involving UMNO leaders. (And investigation of corruption cases against PAS leaders) The call is of course a futile call and a
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Khazanah, govt to further review proposals for Malaysia Airlines
KUALA LUMPUR: Malaysia’s sovereign wealth fund Khazanah Nasional Bhd says it will continue to work closely with the government and Malaysia Airlines to further review the proposals and finalise a decision on the appropriate strategic option moving forward. Managing director Shahril
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Khazanah reports RM7.36 bln profit
KUALA LUMPUR: Khazanah Nasional Bhd, in the first full year of its refreshed mandate, reported a turnaround in overall performance for 2019 with record profits from operations contributed by higher divestment gains and lower impairments, and robust portfolio returns. It
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Net outflow dominates market amid political turmoil
KUALA LUMPUR: Malaysia saw its net outflow dominated the equity market last week, surpassing a net sell of over RM1.15 billion compared with the previous week’s RM447.9 million due to the unnerving political turmoil which culminated in the scramble among political parties seeking to
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Stimulus package will add 1.4 percentage to the country’s GDP this year
KUALA LUMPUR: The RM20 billion economic stimulus package will roughly add about 1.4 percentage points to the country’s Gross Domestic Product (GDP) in 2020, which has already been revised lower to between 3.2-4.2% from the government’s earlier target of 4.8%.
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BHB’s net profit increase to RM 786.92 mln last year compared to 2018
KUALA LUMPUR: BIMB Holdings Bhd’s (BHB) net profit rose to RM786.92 million in its financial year ended Dec 31, 2019 (FY19) versus RM682.06 million in the preceding year. Revenue increased to RM5.38 billion from RM4.52 billion previously, it said, in
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COVID-19: Global shares heads to its worst week since 2008 global financial crisis
TOKYO: Global share prices headed for the worst week since the darkest days of the world financial crisis in 2008 as investors braced for the coronavirus to become a pandemic and rapidly spread around the world. Hope that the epidemic
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COVID-19: Dr M announces RM20 bln economic stimulus package (full story)
PUCHONG: Interim Prime Minister Tun Dr Mahathir Mohamad today announced a RM20 billion economic stimulus package to help rejuvenate the nation’s economy, by helping sectors badly affected by the COVID-19 outbreak. Speaking in a live address, Mahathir also took time
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RHB Bank profits soar to RM2.48 bil last year compared to 2018
KUALA LUMPUR: RHB Bank Bhd’s net profit jumped 7.7% to RM2.48 billion, for the financial year ended Dec 31, 2019, compared with RM2.31 billion in the year before. The better performance was mainly due to higher net income, lower expected
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