Archive for August, 2012

Lowest close in a month

Friday, August 31st, 2012

STOCKS closed 1.19 per cent lower yesterday, pulled down by property stocks and after a weak lead from Wall Street as markets await a key speech by US Federal Reserve chairman Ben Bernanke today. The benchmark Hang Seng Index fell 235.60 points to 19,552.91 in light trade to its lowest close since July 27. Hong […]

Zurich interested in takaful

Friday, August 31st, 2012

KUALA LUMPUR: Zurich Financial Group Ltd (Zurich), Switzerland’s biggest insurer, has not ruled out venturing into the takaful business in Malaysia. “If an opportunity arises in Malaysia, then we will definitely consider it,” said Chee Cheong, chief executive officer of Zurich Insurance Malaysia Bhd, the local insurance arm of the Swiss insurance giant. He said […]

Benchmark index falls 1pc

Friday, August 31st, 2012

MOST Southeast Asian stock markets fell yesterday after a subdued session as investors were cautious ahead of a speech by the US Federal Reserve chairman today, while weakness in the rupiah sent Indonesia’s main index to a one-month closing low. In Singapore, the benchmark Straits Times Index closed 0.98 per cent, or 29.75 points, lower […]

KL bourse higher on gains in blue chips

Friday, August 31st, 2012

The FBM KLCI earned 0.53 point to 1,646.11 after opening 0.86 point lower at 1,644.72. A dealer said heavyweight stocks like Sime Darby gained due to positive financial results posted recently. As for global sentiments, he said, investors were cautiously awaiting the outcome of a meeting of central bankers and economists today. “Investors are waiting […]

Ringgit eases against US dollar

Friday, August 31st, 2012

RINGGIT KUALA LUMPUR: The ringgit traded marginally lower against the US dollar in the late session yesterday, as investors took short position ahead of the National Day celebrations today, dealers said. The ringgit was quoted at 3.1245/1285 per US dollar compared with 3.1215/1245 on Wednesday. Another dealer said other emerging currencies led by the rupiah […]

US companies keen to expand investments in Malaysia

Friday, August 31st, 2012

SIEM REAP: US COMPANIES have expressed confidence in the Malaysian economy and are keen to expand investments in the country. In its 2012-2013 business survey of the region, the American Malaysian Chamber of Commerce said: “Overall, Malaysia has fared well in the survey.” Malaysia’s major strengths include the availability of good infrastructure facilities, ease of […]

Ninetology optimistic of buying Ingenuity by Sept

Friday, August 31st, 2012

NINETOLOGY Marketing Sdn Bhd says it is optimistic of taking over ACE Market-listed Ingenuity Solutions Bhd in a cash deal worth RM360 million by September. Chief executive and managing director, Sean Ng said Ninetology has secured “enough” financing from foreign investors for the acquisition, and to expand its business over the next five to ten […]

Genting Q2 net hit by S’pore Casino takings

Friday, August 31st, 2012

Genting Q2 net hit by S’pore Casino takings http://www.btimes.com.my/articles/20120830115439/Article/ L. C. Chong’s Investment and Trading Blog

Xinguan: Standalone stores in China will boost margins, revenue

Friday, August 31st, 2012

KUALA LUMPUR: Xinguan International Sports Holdings Ltd is expected to increase its earnings in the next couple of years, once it comes out with more standalone stores around China. Its chairman and chief executive Datuk Wu Qing Quan said the company will be garnering higher margins once it opens its own point-of-sales in department stores […]

CPO futures close higher

Friday, August 31st, 2012

CPO FUTURES KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives closed higher yesterday. Spot month September 2012 rose RM10 to RM2,925 a tonne, nearby October 2012 was RM1 higher to RM2,969 a tonne, November 2012 increased RM19 to RM3,019 a tonne and December 2012 surged RM26 to RM3,042 a tonne. Volume rose to […]