PETALING JAYA: The initial public offering (IPO) exercise of machinery and equipment unit Borsig GmbH on the Singapore Exchange (SGX) should uplift KNM Group Bhd by aiding its repayments to creditors, says Borsig chief executive officer (CEO) Jurgen Stegger. In a statement yesterday, he highlighted that Borsig has continued to shine as a valuable asset within the KNM...
PETALING JAYA: The government needs to be bold and brave in terms of implementing strategies and reforms to tighten the fiscal screws in the upcoming Budget 2024, says Pankajkumar Bipinchandra, who is managing director of Datametrics Research and Information Centre. One of the effective ways to address the budget deficit is to cut fuel subsidies by...
KUALA LUMPUR: Bumi Armada Bhd's approval from the American Bureau of Shipping (ABS) for a proposed floating LNG (FLNG) concept is expected to open doors for the company. In an announcement yesterday, the offshore services provider said it had developed the barge-based liquefaction unit for a standardised LNG design capacity based on a modularised and repeatable compact...
KUALA LUMPUR: Investors on Bursa Malaysia continued to position themselves for the tabling of Budget 2024 on Friday amid a global market rally as recent comments from US Federal Reserve officials suggested fears of another rate hike were overdone. At 12.30pm, the benchmark FBM KLCI was up 9.05 points to 1,445.54 while the overall market was...
HONG KONG: The Special Administrative Region’s affluent become Hong Kong dollar millionaires at the age of 33 on average and are expected to build HK$10mil in liquid assets by an average age of 62, the latest HSBC Premier 2023 Affluent Survey finds. According to the survey, 61% of respondents bank on savings from their salary...
KUALA LUMPUR: The ringgit snapped two consecutive days of gains to open lower against the US dollar on cautious sentiment despite the weaker performance of the greenback. The US Dollar Index (DXY) declined from as high as 106.01 points to 105.82 points despite the US Producer Price Index for September coming in higher than expected. At 9...
KUALA LUMPUR: Low-cost carrier MYAirline has announced it will suspend its operations from Oct 12, 2023, until further notice due to "significant financial pressures" pending a shareholder restructuring and recapitalisation of the airline. "We have worked tirelessly to explore various partnership and capital raising options to prevent this suspension. "Unfortunately, the constraints of time have left us...
KUALA LUMPUR: Malaysia’s wholesale and retail trade recorded sales value of RM142.5 billion, an increase of 6.7 per cent year-on-year (y-o-y) in August 2023, said the Department of Statistics Malaysia (DoSM). On a month-on-month comparison, sales value grew 2.0 per cent, it added. Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the increase of 6.7 per...
MOSCOW (Reuters) - Russian President Vladimir Putin's foreign intelligence chief said on Wednesday that the issue of support for Ukraine was becoming toxic in the United States and that the divisions would deepen ahead of next year's U.S. presidential election. Since Russia invaded Ukraine in February last year, the United States and the European Union have...
PORT DICKSON: A 20-year-old Port Dickson Polytechnic student was killed after the car he was travelling in crashed into a highway guardrail, here. The deceased, who was travelling with four friends from the same polytechnic in a car, died due to serious head injuries in the 6.55am accident at KM28 of the Seremban-Port Dickson highway.. Port Dickson...
