Items filtered by date: May 2018

Pakatan Harapan’s The Council of Eminent Persons earlier today announced the formation of the Committee on Institutional Reforms aimed to assist the newly-formed Pakatan Harapan government on economic and financial matters.

In a statement, the council also stated that it had appointed five prominent figures, to sit in the reform committee.

Published in GENERAL

RAM Rating Services Bhd, expects Malaysia's gA2 sovereign rating to remain intact, following Pakatan Harapan's (PH) victory in the recent 14th General Election.

The rating agency said some economic and fiscal policy changes would create uncertainties in the near term, as details are scant at this juncture, but the strong emphasis by the new leadership on governance and institutional reforms is a long-term positive for the nation's fundamentals.

Published in GENERAL

Malaysia can meet its revenue requirements even after shelving the Goods and Services Tax (GST) by prioritising its projects, increasing the efficiency of the public sector, avoiding wastage and exploring new sources of revenue, says Tan Sri Zeti Akhtar Aziz.

The former Bank Negara governor also expressed her confidence in the country's economy which can be steered towards the right direction and the 100-day time frame is certainly adequate to provide clarity and make necessary adjustments and changes.

Published in GENERAL

Tan Sri Zeti Akhtar Aziz said there will be no turning back on the proposed abolishment of the Goods and Services Tax (GST) which came into effect on April 1, 2015.

"It's (decision to abolish) is final and work is in progress towards the abolishment," said the former central bank governor who is also part of the five-member Council of Eminent Persons.

Published in GENERAL

Malaysia is leading efforts for convergence of Islamic and green financing following the country’s issuance of the world’s first green sukuk in July 2017. To date, five green sukuk have been issued under the Securities Commission Malaysia’s (SC) Sustainable and Responsible Investment (SRI) Sukuk Framework totalling RM2.407 billion, with more expected during the year.

This trend, along with the numerous enabling components for this class of innovative, inclusive and sustainable financial assets, are discussed and showcased at a joint conference today organised by the SC, World Bank Group Global Knowledge and Research Hub in Malaysia and the International Organisation of Securities Commissions (IOSCO) Asia Pacific Hub also located in Malaysia.

Published in GENERAL
Tuesday, 15 May 2018 15:48

Ranhill Poised for Growth

Ranhill Holdings Berhad (Ranhill) achieved a solid year of progress, delivering an improved performance by leveraging on its proven track record. The Group is focused on strengthening prospects for its core businesses by tapping into opportunities in the environment and power sectors, both locally and overseas. 

For its financial year ended 31 December 2017, the Group posted a higher profit after tax of RM120.6 million, up by 24.1% compared with RM97.2 million in the previous financial year. Profit before tax increased by 17.6% to RM198 million and revenue grew by 1.6% to RM1.479 billion while profit after tax attributable to owners of Ranhill grew by 30.9% to reach RM72.4 million from RM55.3 million.  Earnings per ordinary share (EPS) also rose to 8.14 sen from 6.73 sen in the previous financial year.

Published in GENERAL
Tuesday, 15 May 2018 15:46

Maybank Announces Senior Appointment

Maybank wishes to announce the appointment of Dato’ John Chong Eng Chuan as the new Group Chief Executive Officer (CEO), Community Financial Services (CFS) effective 18 July 2018, taking over from Datuk Lim Hong Tat who will retire from Maybank effective that same day.

Dato' John, who is currently the CEO of Maybank Investment Bank (Maybank IB) & Maybank Kim Eng (MKE), has 25 years of experience in investment banking with the Maybank Group, having joined Maybank IB (then Aseambankers Malaysia Berhad) in March 1993 as an officer in the Banking Department. 

Published in GENERAL

Blue chips fell more than 40 points early Monday when the stock market resumed trading after Pakatan Harapan's shocking victory in last Wednesday's defining 14th General Election.

The KLCI fell 40 points at the start but managed to reduce its losses as local funds stepped in to pick up oversold counters due to the knee-jerk reaction.

Published in MARKETS

The ringgit opened easier against the US dollar and other major currencies.

As at 9.00 am, the local unit was quoted at 3.9850/9880 against the greenback from Tuesday's close of 3.9480/9530.

Published in MARKETS

After 15 years, Tun Dr Mahathir Mohamad was sworn in once again as Malaysia’s Prime Minister last Thursday.

The 92-year-old statesman took his oath as the nation’s seventh Prime Minister before the Yang di-Pertuan Agong, Sultan Muhammad V, at the Istana Negara’s Balairong Seri.

Published in GENERAL
Page 5 of 8