Latest news with #RM9.65
New Straits Times
2 days ago
- Business
- New Straits Times
Bursa opens higher, tracking Wall Street's rally last Friday
KUALA LUMPUR: Bursa Malaysia opened higher today, tracking Wall Street's rally last Friday, which was led by gains in Apple shares following the announcement of its planned investments in the United States (US). At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.05 points, or 0.07 per cent, to 1,558.03 from last Friday's close of 1,556.98. The benchmark index had earlier opened 0.76 of a point higher at 1,557.74. However, market breadth was negative, with decliners exceeding gainers 128 to 121. Another 287 counters were unchanged, 1,987 untraded and nine suspended. Turnover stood at 103.16 million shares worth RM42.80 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng, however, sees the overall trading pattern to be dictated by how traders interpret the ongoing tariff dynamics on the US economy. "Meanwhile, the US 10-year yield edged higher at 4.285 per cent. "Over in Hong Kong, the Hang Seng Index tumbled to the 24,850 level amid some profit-taking activities, citing disappointing corporate earnings and deflationary fears in China," he told Bernama. Back home, he said the FBM KLCI maintained its impressive run-up as it ended higher towards the 1,560 mark last Friday. "Buying has been broad-based but mainly centred on the laggards again. "Despite the positive index performance, daily volume remained less than desirable at around 2.49 billion shares," he added. Therefore, he expects the index to trend within the 1,550-1,560 range today. Among the heavyweights, Maybank went up 4.0 sen to RM9.65, Public Bank gained 1.0 sen to RM4.34, CIMB put on 3.0 sen to RM6.89, but Tenaga Nasional eased 8.0 sen to RM13.72 and IHH Healthcare fell 5.0 sen to RM6.91. On the actively traded list, Classita and Magma increased 1.5 sen each to 9.5 sen and 41 sen, Capitaland inched up half-a-sen to 61.5 sen, while NexG and Vantris Energy were flat at 53.5 sen and 4.0 sen, respectively. On the broader market, the FBM Emas Index perked up 8.0 points to 11,609.79, the FBMT 100 Index widened 8.47 points to 11,388.38, the FBM Mid 70 Index advanced 15.66 points to 16,521.19, while the FBM ACE Index trimmed 0.31 of a point to 4,606.57 and the FBM Emas Shariah Index shed 3.68 points to 11,630.50. By sector, the Financial Services Index strengthened 39.26 points to 17,620.08, the Plantation Index climbed 13.38 points to 7,439.50, and the Industrial Products and Services Index was 0.16 of a point better at 157.92; however, the Energy Index slid 0.08 of a point to 736.64.
New Straits Times
5 days ago
- Business
- New Straits Times
Bursa opens nearly flat on lingering US tariff worries
KUALA LUMPUR: Bursa Malaysia opened nearly flat on Friday after a mixed overnight performance on Wall Street, as investors turned cautious over the impact of US President Donald Trump's tariffs. Tariffs of between 15 per cent and 50 per cent on major economies took effect on Thursday, even as negotiations with Washington continued. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.28 of a point, or 0.02 per cent, to 1,549.39 from Thursday's close of 1,549.11. The benchmark had earlier opened 0.11 of a point lower at 1,549.00. Market breadth was slightly negative, with decliners outnumbering gainers 157 to 111. Another 255 counters were unchanged, 1,990 untraded and nine suspended. Turnover stood at 158.25 million shares worth RM69.68 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street's mixed close reflected investor caution over the potential impact of Trump's tariffs, which could be felt in the coming months. In the region, Hong Kong's Hang Seng Index extended its uptrend, supported by an unexpected improvement in China's July exports, which rose 7.2 per cent against market expectations of 5.6 per cent. "Additionally, while we believe there could be some foreign buying, we hope this time they will stay a tad longer. For today, we expect the FBM KLCI to trend between the 1,545 and 1,555 range," Thong told Bernama. Among the heavyweights, Maybank and Tenaga Nasional gained two sen each to RM9.65 and RM13.78 respectively, CIMB rose three sen to RM6.81, and Public Bank was flat at RM4.29. IHH Healthcare fell four sen to RM6.91. On the actively traded list, TWL was unchanged at 2.5 sen, Ekovest slipped one sen to 39.5 sen, and Genting lost four sen to RM2.96. NexG and Malayan United Industries added half a sen each to 53.5 sen and 6.5 sen respectively. On the broader market, the FBM Emas Index eased 0.39 of a point to 11,566.15, the FBM Emas Shariah Index shed 7.58 points to 11,598.58, and the FBMT 100 Index edged up 0.41 of a point to 11,341.07. The FBM 70 Index fell 6.69 points to 16,522.28, while the FBM ACE Index dropped 14.72 points to 4,616.16. By sector, the Financial Services Index advanced 20.22 points to 17,514.68, the Plantation Index gained 27.14 points to 7,375.88, the Energy Index rose 0.49 of a point to 735.17, while the Industrial Products and Services Index slipped 0.17 of a point to 157.85.
New Straits Times
03-07-2025
- Business
- New Straits Times
Time dotCom names Loh Jenkim as group CEO, redesignates Afzal as executive vice chairman
KUALA LUMPUR: Time dotCom Bhd has named Loh Jenkim as its new group chief executive officer effective from Sept 23. In a filing to Bursa Malaysia, the company said Loh, 53, will succeed Afzal Abdul Rahim. Afzal, 47, will be redesignated as executive vice chairman from his current role as group chief executive officer, also effective Sept 23. Afzal was involved in the founding and growth of the AIMS and Global Transit Groups before joining Time in 2008, where he has since served as group chief executive officer. Meanwhile, Loh brings over 25 years of experience across the telecommunications, energy and professional services sectors. She currently serves as Time's chief commercial officer, responsible for driving the group's commercial strategy to ensure sustainable profitability, return on investments, and alignment with long-term objectives. Prior to joining Time, she held leadership roles at Maxis, Talisman Energy and PwC. At the time of writing, Time's share price was down two sen or 0.38 per cent at RM5.22, giving the group a market value of RM9.65 billion.
New Straits Times
01-07-2025
- Business
- New Straits Times
Sabah Bank's net loss narrows to RM82mil in 2024, from RM684mil in 2023
KUALA LUMPUR: Sabah Development Bank Bhd significantly narrowed its net loss to RM82 million for the financial year ended 2024, from RM684 million net loss in FY2023. The 2023 losses were primarily due to extensive provisions for non-performing loans (NPLs) and diminished asset values accumulated over the past years. Sabah Bank, in a statement today, said it expects to report a modest profit in FY2025. "This progress reflects positive momentum in Sabah Bank's ongoing three-year transformation journey, which commenced in the second half of 2023 under a new board and management," it said. "Following a rigorous restructuring exercise, the bank's total capital ratio had dropped to 7.9 per cent by end 2023. However, as of end-2024, the capital ratio has rebounded to a strong 20.71 per cent, backed by strong support from the Sabah state government," it added. On June 4, RAM Rating Services Bhd (RAM) affirmed Sabah Bank's debt instrument ratings at AA1/Stable/P1. The AA1 rating indicates a high safety for payment of financial obligations, while the "Stable" outlook reflects RAM's expectations that the long-term rating will be unchanged over the intermediate term. The bank's commercial papers were also affirmed at P1, the highest short-term rating assigned by RAM, reflecting high safety for payment of short-term obligations. In alignment with its mandate from the state government, the bank is now focused on financing development projects in Sabah, predominantly in the infrastructure, power and water sectors. The state has positioned the bank as the lead lender for local-content in major investment projects, reinforcing its pivotal role in driving Sabah's economic growth. Between January 2024 to June 2025, Sabah Bank approved RM1.76 billion loan applications within its developmental mandate. During the same period, the bank turned down RM9.65 billion in loan applications that either fell outside its mandate or did not meet its enhanced credit standards. The bank said since the setup of an independent professional recovery team in September 2023, notable progress has been made in addressing the NPLs. The bank's board has approved RM965 million in settlement proposals. This is in addition to RM2 billion in pledged securities currently placed under receivership.
The Sun
16-05-2025
- Business
- The Sun
Taylor's University introduces pioneering Bachelor of Mechatronics Engineering with Honours
TAYLOR'S UNIVERSITY has introduced Bachelor of Mechatronics Engineering with Honours, aligning with the nation's Industry 4.0 policy. The programme highlights advancements across 12 key industries and prepares graduates with the essential skills to lead the sector. The programme is the first to offer specialised tracks in Robotics Systems and Artificial Intelligence (AI), aligning with Malaysia's Industry 4.0 policy. It also features a comprehensive curriculum that meets the highest international standards, accredited by the Engineering Accreditation Council (EAC). Upon completion, graduates are eligible to register with the Board of Engineers Malaysia, a signatory to the Washington Accord, and pursue careers as professional engineers. Professor Technologist (Ts) Dr Sim Yee Wai, Acting Executive Dean of the Faculty of Innovation & Technology, delivering an opening speech at the launch event. 'With the global mechatronics market projected to reach US$2.25 (RM9.65) billion by 2031, this programme equips our students not just to meet the demand for job-ready engineers, but to be strategically poised to shape the future of technological innovations driving Industry 4.0 globally. 'The programme places Taylor's students at the heart of innovation,' said Professor Ts Dr Sim Yee Wai, Acting Executive Dean of the Faculty of Innovation and Technology, Taylor's University. Sim also emphasised that the programme aims to develop engineers who will define the future of technology. 'By blending critical thinking, innovation, and hands-on experience, we are empowering students to lead advances in robotics, automation, and AI. Our graduates will not just adapt to change – they will drive it, accelerating Malaysia's transformation into a digital-first nation,' he added. Taylor's University has also collaborated with global tech leaders such as DJI Academy Malaysia and Unitree Robotics, providing students with exposure to cutting-edge technologies through its in-house Engineering Undergraduates for Industrial Adoption (EUFORIA) and EUFORIA Type-Research (R) programmes. Students engage directly with industry partners from Year 2, ensuring they gain practical skills and research experience that position them for high-demand roles in today's competitive job market. 'At DJI Academy Malaysia, we recognise the importance of real-world collaboration with academia in fostering the next generation of engineers. As our first-ever academic partnership, the institution's forward-thinking programme presents an exciting opportunity for us. 'We are proud to play a pivotal role in developing engineers who will push the boundaries of robotics and automation technologies, creating global solutions that transform industries,' said Darren Teh, General Manager of DJI Academy Malaysia. Furthermore, students can apply their skills in real-world, cross-disciplinary projects through Taylor's Robotics Club. Students may also opt to pursue a fast-tracked Master's degree in Mechatronics and Robotic Engineering via a 2+2 programme with the University of Birmingham, expanding their global education experience.
