Corporate News

S P Setia achieves RM3.89bil property sales in 9M23

KUALA LUMPUR: S P Setia Bhd secured total sales of RM3.89bil for the nine months ended Sept 30, 2023, with local projects contributing RM3.37bil or approximately 87% of total sales.

Corporate News

TM net profit more than doubles to RM538.2mil in 3Q

KUALA LUMPUR: Telekom Malaysia Bhd (TM) is poised to meet its 2023 market guidance based on its current performance trajectory.

Corporate News

TNB partners Perak state govt to drive large-scale renewable energy initiatives

KUALA LUMPUR: Tenaga Nasional Bhd's (TNB) wholly-owned subsidiary, TNB Power Generation Sdn Bhd (TNB Genco), has inked a partnership with the Perak State Development Corporation (PKNPk) to harness floating solar potential in the Sungai Perak Hydroelectric Scheme, Dam and Reservoir.

Corporate News

TSH Resources cautiously optimistic on FY23 performance

KUALA LUMPUR: TSH Resources Bhd expects crude palm oil (CPO) price to be supported at around the current price level of RM3,700 to RM3,800 per tonne and is cautiously optimistic of achieving satisfactory performance for 2023.

Markets

FBM KLCI ends easier for second straight day

KUALA LUMPUR: Despite opening higher at the start of the opening bell, the FBM KLCI succumbed to mild profit taking activities on Thursday.

Corporate News

RHB to allocate more for sustainable financial services next year

PETALING JAYA: RHB Banking Group is planning a higher allocation for sustainable financial services after its aim to mobilise RM20 billion for the segment by 2026 reached a 99 per cent target.

Energy

Oil down more than 1% as uncertainty swirls over delayed OPEC+ meeting

OIL prices fell by more than 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a ministerial meeting, leading to speculation that producers might cut output less than earlier anticipated.

Banking

Indonesia c.bank maintains all rates, as expected

JAKARTA: Indonesia's central bank kept interest rates unchanged on Thursday, as expected, despite renewed volatility in the rupiah exchange rate as investors speculate over the possibility of an end to U.S. monetary tightening.

Corporate News

Matrix Concepts registers RM616.1mil new property sales in 1HFY24

KUALA LUMPUR: Matrix Concepts Holdings Bhd achieved RM310.8mil in new property sales in the second quarter of its 2024 financial year, with the lion's share of the sales stemming from Sendayan Developments.

Markets

Asia stocks hold gains as confidence grows on rate outlook

HONG KONG: Asian shares were flat on Thursday with markets holding onto their gains for the week as confidence grows that interest rates globally will head lower next year, while oil prices fell on the prospects for smaller-than-expected output cuts by OPEC+.

Banking

CIMB unveils 2030 targets for sustainable palm oil production

KUALA LUMPUR: CIMB Group Holdings Bhd is formalising its 2030 climate target for its palm oil sector portfolio, focusing on sustainable palm oil production.

Corporate News

MSM Malaysia's net loss narrows to RM36.06mil in 3Q

KUALA LUMPUR: After eight consecutive quarters of losses, MSM Malaysia Bhd continues to rein in the deficit and strive towards a return to profitability amid elevated production costs.

Corporate News

Tune Protect continues turnaround with RM3.76mil net profit in 3Q

KUALA LUMPUR: Tune Protect Group Bhd is confident of delivering favourable investment returns with its investment strategy moving forward.

Economy

Singapore Oct core inflation picks up to 3.3% y-o-Y

SINGAPORE: Singapore's key consumer price gauge rose 3.3% in October on a yearly basis, higher than economists' forecasts, official data showed on Thursday.

Markets

FBM KLCI continues to slip amid earnings releases

KUALA LUMPUR: Indecision over the outlook of global interest rates in the coming year have equities markets staying cautious and travelling on a horizontal channel.

Commodities

MPRC to introduce national oil and gas sustainability framework by end 2024

KUALA LUMPUR: The Malaysia Petroleum Resources Corporation (MPRC) will introduce the national oil and gas services and equipment (OGSE) sustainability framework by the end of 2024, which will provide a detailed guide for how OGSE companies can implement and report on their sustainability practices.

Economy

Business confidence improves in 4Q - DoSM

KUALA LUMPUR: Business confidence indicator increased by 3.2 per cent in the fourth quarter of 2023 (4Q23), up from 0.7 per cent in 3Q 2023 as businesses anticipate a better business situation in the fourth quarter.

Forex

Ringgit opens lower against greenback on encouraging US economic data

KUALA LUMPUR: The ringgit opened lower to extend its downtrend against the greenback on Thursday after the American dollar continued to strengthen on the back of encouraging US economic data, a trader said.

Markets

Bursa moves sideways as investors await leads

KUALA LUMPUR: While the corporate earnings results continue to stream in, there has been an absence of fresh leads for the key index to move out of a consolidation channel.

Business

Trading ideas: Widad, AMMB, Skyworld, Dutch Lady, Taliworks, Maybank, Sunway, MST Golf, MFM, Pos, Supercomnet and Boustead Plantations

KUALA LUMPUR: Recent companies making headlines that could spark trading interest include Widad, AMMB, Skyworld, Dutch Lady, Taliworks, Maybank, Sunway, MST Golf, MFM, Pos, Supercomnet and Boustead Plantations, said Apex Securities Research.