Latest news with #RM3.2
New Straits Times
20-05-2025
- Business
- New Straits Times
Foreign investors flock to Malaysian bonds with RM10.2bil inflow in April
KUALA LUMPUR: Foreign investors remained as net buyers of the Malaysian bond, with net inflows surging to RM10.2 billion in April, more than triple the RM3.2 billion recorded in March. According to RAM Ratings Service Bhd (RAM Ratings), the inflows were mainly driven by strong demand for Malaysian Government Securities (MGS) and Government Investment Issues (GII), which collectively drew RM9.7 billion in net foreign investment, up sharply from RM3.0 billion in March. Additionally, it said Malaysian Treasury Bills (MTB) and Islamic Treasury Bills (MITB) attracted RM480 million in net inflows — a notable reversal from the RM252 million net outflow seen in the previous month. RAM Ratings noted that the sweeping set of "reciprocal" tariffs announced at the start of last month sparked a sharp surge in market turmoil, with the volatility index published by the Chicago Board Options Exchange rising to a high not seen since the start of the Covid-19 pandemic. "Heightened risk aversion contributed to a weakening of the ringgit against the USD in the first week of April, as the local currency swiftly depreciated to 4.50 against the greenback as of 9 April from 4.43 as of end-March," it said. RAM Ratings said the 10-year US Treasury (UST) yield soared to a high 4.48 per cent as of April 11 from 4.23 per cent as of end-March. Market jitters, however, soon subsided amid signs of easing US-China trade tensions. "The ringgit rose to 4.32 against the US dollar at the end of April while the 10-year UST yield retreated to 4.17 per cent," it said. Meanwhile, RAM Ratings noted that at the May Federal Open Market Committee meeting, the Fed kept the interest rate unchanged at 4.25 per cent 4.5 per cent, citing persistent inflationary pressures and economic uncertainties stemming from recent tariff implementations. The rating agency said market consensus now expects the Fed's first rate cut to come in September, with a 71 per cent probability priced in. Adding further complexity to global yield dynamics, RAM Ratings said Moody's downgraded the US sovereign credit rating from Aaa to Aa1 on 16 May, citing long-term fiscal concerns. "This contributed to renewed weakness in US treasuries, triggering another round of repricing of US government debt. "The 10-year UST yield jumped to 4.46 per cent as of May 19, from 4.17 per cent as of end-April, as markets digest the downgrade alongside concerns of reduced foreign appetite for US debt. "The selloff pressure was relatively contained within the US as MGS yields largely trended sideways, with the benchmark 10-year MGS yield sitting at 3.64 per cent as of 19 May from 3.68 per cent as of end-April," it added.
New Straits Times
29-04-2025
- Health
- New Straits Times
A sip of hot tea with a side of microplastics
Previous Next When you buy hot tea or coffee at restaurants, they're typically delivered in plastic cups. Hot drinks can cause plastic cups to leach chemicals such as polystyrene and polypropylene into the beverage. Similarly, food is often delivered in plastic containers. Even the paper used to wrap nasi lemak typically has a plastic lining. These materials can release microplastics into food and drinks, which may then enter the our bloodstream. Authorities do regulate the composition of plastic food and drink containers. However, the effectiveness of these regulations depends on how well they are enforced. Authorities may need to conduct surveys to analyse the types of packaging materials used by restaurants. Authorities should remind restaurant owners, consumers and enforcement agencies that studies have shown higher levels of microplastics in the blood of people who frequently use plastic food containers. But plastic containers aren't the only way microplastics enter our bodies. We're also exposed to microplastics through inhalation and skin contact. What impact do microplastics have on human health? In addition to their potential link to cancer, microplastics may affect cardiovascular health, trigger inflammation, and interfere with blood clotting. Could microplastics be contributing to the rising prevalence of chronic kidney disease (CKD) in Malaysia? The prevalence of CKD in Malaysia rose from 9.1 per cent in the 2011 National Health and Morbidity Survey to 15.5 per cent in 2018. If this trend continues, the number of end-stage kidney disease patients may reach 106,000 by 2040 — costing the healthcare system RM3.2 billion annually. Microplastics in the bloodstream travel through the organs. The kidneys act as filters, removing toxic substances from the blood. Microplastics may attach to human cells, including nephrons — the kidney's filtering units — during the filtration process. Over time, microplastic buildup in nephrons could impair their ability to filter waste from the blood. The increase in CKD cases may be linked to frequent consumption of food and drinks from plastic packaging. This is a hypothesis worth testing with empirical evidence. Suppose microplastics from plastic containers do contribute to CKD in Malaysia.
Business Times
28-04-2025
- Business
- Business Times
Bursa Malaysia's Q1 net profit falls 8.8% on lower trading revenue
[KUALA LUMPUR] Bursa Malaysia's net profit declined 8.8 per cent year on year to RM68.4 million (S$20.6 million) for the first quarter of 2025, the exchange operator said on Monday (Apr 28). Revenue fell 1.5 per cent to RM184.4 million from a year earlier, as lower trading revenue and higher expenses weighed on performance, Bursa Malaysia chief executive officer Fad'l Mohamed said in a statement. The average daily trading value on the securities market dropped nearly 12 per cent to RM2.8 billion, compared to RM3.2 billion in the first quarter of 2024. Fewer trading days – 58 versus 60 a year earlier – also contributed to the revenue decline, he said. Trading velocity slipped to 33 per cent from 39 per cent over the same period. 'The first quarter of 2025 proved to be a challenging period for global markets, weighed down by external factors affecting equity market performance,' Fad'l said. Bursa Malaysia chief executive officer Fad'l Mohamed notes that Malaysia's capital market remains resilient, supported by strong economic fundamentals and government policy direction. PHOTO: BURSA MALAYSIA Still, he stressed that Malaysia's capital market remains resilient, supported by strong economic fundamentals and government policy direction, including national roadmaps for key growth sectors. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Despite softer trading activity, Bursa Malaysia has recorded 16 initial public offerings (IPOs) so far this year, keeping it on track to meet its full-year target of 60 listings, Fad'l said. As at Mar 31, Bursa Malaysia's market capitalisation stood at RM1.9 trillion, down 1.9 per cent from a year earlier. Last year, Bursa hosted 55 listings that raised RM7.4 billion, making it the most active exchange by deal count in South-east Asia. This year, market sentiment has been hit by global uncertainties. Cuckoo International and SPB Development deferred their IPO plans, citing unstable conditions. Bloomberg also reported that advisers for South Korea's OCI Holdings have paused work on the IPO of its Malaysian polysilicon unit due to market volatility. On Monday, the benchmark FBM KLCI closed at 1,521.59 points, 0.8 per cent higher from the previous trading day, with 2.6 billion shares traded. Year-to-date, the index has fallen nearly 7 per cent from 1,632.87 points at the start of the year. Robust activities in derivatives market The derivatives market provided some support, with revenue up 13.7 per cent to RM28.9 million, driven by higher trading activity in crude palm oil futures and FTSE Bursa Malaysia KLCI Futures contracts. Revenue from the Islamic capital market rose 23 per cent year on year to RM5.5 million. Non-trading revenue, which includes listing and issuer services as well as depository services, grew 4.9 per cent to RM66.5 million. Bursa Malaysia's financial results note indicated that securities market activity remains sensitive to global and local factors – including US policy uncertainties, risks of escalating trade tensions, monetary policy shifts, geopolitical risks and corporate earnings performance. 'The derivatives market's activity was influenced by volatility in commodity prices, delays in Indonesia's biodiesel policy implementation, production levels in palm oil-producing nations, and movements in the broader equity markets,' said the exchange. For Islamic markets, Bursa Malaysia noted that it remains focused on improving investor accessibility through its Islamic investing platform, and aims to attract a broader range of investors amid growing demand for ethical and syariah-compliant investments.
Malay Mail
26-04-2025
- Business
- Malay Mail
World Bank president urges developing nations to fast-track US trade negotiations amid Trump's tariff uncertainty
WASHINGTON, April 26 — Developing countries should strike swift trade deals with the United States at the 'earliest possible' opportunity, the president of the World Bank told AFP yesterday, after a busy week with global financial leaders in Washington. Ajay Banga was interviewed by AFP at the World Bank and International Monetary Fund's Spring Meetings, which have been held this year under a cloud of uncertainty about President Donald Trump's stop-start tariff rollout. The Bank has been advising developing countries to get a deal done quickly with the United States, and to then focus attention on cutting trade barriers and boosting regional flows of goods, Banga said. 'You need to negotiate trade systems with the US at the earliest possible (opportunity),' he said. 'If you delay, it hurts everyone.' Trump's tariffs have roiled financial markets, sent volatility surging and spooked investors and consumers. Since returning to office in January, the US leader has imposed a 'baseline' 10 per cent tariff on most countries, with much higher duties on China, and 25 per cent sector-specific levies on areas including steel, aluminum, and automobiles not manufactured in the United States. He also introduced much higher tariffs on dozens of countries — which have since been temporarily paused—accusing them of having an unfair trade balance with the United States. Bessent 'not wrong' on China Banga also addressed the criticism leveled by US Treasury Secretary Scott Bessent at the Bank earlier this week. Bessent criticised China's 'absurd' developing country status and called on Banga and IMF Managing Director Kristalina Georgieva to 'earn the confidence of the administration.' 'I don't think he's wrong,' Banga said of Bessent's comments on China. 'A country that is the size of China and the capability of China, at some point, should no longer be taking money from IBRD,' he said, referring to the International Bank for Reconstruction and Development — an arm of the World Bank that lends largely to middle-income countries. Such a move would require the support of the World Bank's executive board, which is made up by member states. World Bank Group President Ajay Banga speaks during an interview with AFP at the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. — AFP pic China, Banga said, borrowed around US$750 million (RM3.2 billion) from the IBRD last year, while paying billions of dollars to the institution in repayments and donations. 'My view is, I've brought it down to 750 (million), and I'm trying to figure out a way to deal with China to bring it down further,' he said. 'I want to get it done. And that's what I'm talking to the Chinese about.' Banga said the Trump administration's criticisms of the World Bank, which included 'expansive policy overreach,' were not unusual, citing newly elected governments in countries including France, Japan and Korea. 'I keep telling people this is a perfectly constructive request, to say, tell me and show me that you guys are the kind of people that advance the interests of my taxpayer, of my country,' he said. 'I take it in that spirit,' he said. 'There's nothing wrong with it.' Energy at 'lowest possible cost' Since taking the helm of the Washington-based development lender in 2023, Banga has pushed to streamline operations and encourage private sector participation, while focusing on job creation and electricity connectivity. Among the Bank's current priorities is a push with the African Development Bank to connect 300 million people in sub-Saharan Africa to electricity by 2030 — a process that will require a vast amount of new energy to be brought online. 'You should try and get (energy) in the best, accessible way and the lowest possible cost,' Banga said, suggesting that in addition to renewable power, nuclear and gas could help provide a base load—two energy sources the World Bank is currently hesitant to finance. The Bank's executive board is set to discuss its energy strategy in June, Banga said, adding that funding for both nuclear and gas would likely be on the agenda. Banga said the Bank is also pushing to encourage private sector job creation in developing countries — beyond simply outsourcing jobs from advanced economies. 'Because then you end up with challenges in (advanced economies), and you can see that people are speaking about them with their votes,' he added. — AFP
Yahoo
26-03-2025
- Business
- Yahoo
Appellate court denies bid by three individuals, company to reclaim RM3.2m in seized assets tied to ex-Johor exco member
PUTRAJAYA, March 26 — Three individuals and a company linked to former Johor executive council member Datuk Abdul Latif Bandi have failed in their bid to review the seizure of RM3.2 million in assets. A three-member Court of Appeal panel, chaired by Justice Hashim Hamzah, ruled that public policy requires finality in judgments and that reviews are only permitted in exceptional cases, such as breaches of natural justice or miscarriages of justice, according to a report published in Free Malaysia Today. The court found that the applicants were challenging the merits of a previous Court of Appeal decision, rather than raising a valid ground for review. The bench also included Justices Wong Kian Kheong and Noorin Badaruddin. The appeal stemmed from a ruling on July 17, 2024, when a separate Court of Appeal panel dismissed appeals from six individuals, including Latif, his son Ahmad Fauzan Hatim, real estate consultant Amir Shariffuddin Abd Raub, Mazita Mahmod, Hartini Jalani, and JLA Motorsports Sdn Bhd. During today's proceedings, lawyer Abdul Rahim Ali informed the court that Latif wished to withdraw from the case, while his son did not participate as an applicant. The prosecution was represented by deputy public prosecutors Wan Shaharuddin Wan Ladin, Zander Lim, and Asraf Tahir. The case dates back to May 2019, when the Sessions Court dismissed the prosecution's forfeiture application, ordering the return of the seized assets. However, the High Court overturned this ruling in December 2021, concluding that the properties were linked to illegal proceeds. The seized assets included 20 luxury vehicles, such as a Mercedes-Benz G63 AMG, Bentley Continental GT Coupe, Land Rover Sport, Nissan Skyline, Toyota Vellfire, Honda HRV, and a Harley-Davidson motorcycle, as well as branded watches, handbags, jewellery, and foreign currency in multiple denominations. In a separate case, Latif, his son Fauzan, and Amir Shariffuddin were acquitted of corruption and money laundering charges by the Johor Baru Sessions Court in 2022, a decision upheld by the High Court in 2023. While the prosecution dropped its appeal against Latif's acquittal, proceedings against Fauzan and Amir Shariffuddin are ongoing.
