Tuesday, July 14

The week at a glance 21 June 2015

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TA00698Sabah & Sarawak

BLD strives to keep costs low in midst of challenging outlook

BLD Plantation Bhd aims to keep its costs low amidst a challenging outlook for the palm oil industry as crude palm oil prices remain lacklustre. According to chairman Datuk Henry Lau, global demand for palm oil and its related products have not been as encouraging as expected. This was on the back of increasing costs of operations including minimum wages, goods and services which Lau said were generally on the uptrend.

 

FGV shares hit record low on Eagle High bid

Shares of Felda Global Ventures Holdings Bhd’s (FGV) fell to a record low on Monday following its proposed acquisition of a 37 per cent non-controlling stake in PT Eagle High Plantations Tbk (Eagle High). Felda shares fell by 11 per cent on Monday when trading in the stock resumed after a suspension was imposed pending an announcement.

 

Press Metal to look beyond temporary hiccups

Press Metal Bhd (Press Metal) will likely rebound from the myriad of setbacks faced this financial year 2015 (FY15) as RHB Research Institute Sdn Bhd (RHB Research) viewed the group to currently operate low-cost aluminium smelters in  in the first quartile of the global cost curve.

 

Sarawak stocks adequately supported by fundamentals

With speculation on a snap state election ramping up a few notches in recent days, analysts believe several of Sarawak’s stocks are adequately supported by fundamental and growth prospects, and are currently trading at undemanding valuations. AmResearch Sdn Bhd  said that while polls do not have to be called by June next year, the conjecture is for it to be held by the fourth quarter of 2015.

 

 

National

Govt committed to strengthening public finance

The government remains committed to strengthening public finance without jeopardising growth, while providing fiscal support for reform initiatives, said Prime Minister Datuk Seri Najib Tun Razak.

 

1MDB debunks claims by Dr M

1Malaysia Development Bhd (1MDB) on Tuesday debunked various claims by former Prime Minister Tun Dr Mahathir Mohamed in his blog entries entitled, “The 1MDB Story,” and “More Investments By 1MDB”.

 

Ministry can gauge total GST collection by August

The Finance Ministry will be able to gauge the total Goods and Services Tax (GST) collection by August this year, provided businesses file their statements on time, said Deputy Minister Datuk Chua Tee Yong.

 

AirAsia named Best Low Cost Airline for 7th consecutive year 

AirAsia has been named the World’s Best Low Cost Airline and Asia’s Best Low Cost Airline for the seventh consecutive year at the Skytrax World’s Airline Awards held at the Paris Air Show in Le Bourget.

 

ECO World scraps spac plan, plans to float shares on Bursa Malaysia

Eco World International Bhd (EWI) has scrapped its plan to set up a special-purpose acquisition company (SPAC) and aims to float its shares on Bursa Malaysia’s Main Market by year-end.

 

TNB sets condition for take over of 3B project

Tenaga Nasional Bhd (TNB)’s take over of the coal-fired 3B power plant project will be subject to terms and conditions, which includes the firm and final levelised tariff not exceeding 26.67 sen/kWh.