Latest news with #RM9.8
New Straits Times
26-05-2025
- Business
- New Straits Times
Foreigners reverse trend with RM392.3mil outflow after four weeks: MIDF
KUALA LUMPUR: Foreign investors reversed their position to net selling after a four-week buying streak that saw cumulative inflows of RM3.29 billion. In a note today, MIDF Research said that the week ending May 23 recorded a net foreign outflow of RM392.3 million, bringing the year-to-date (YTD) net foreign outflow to RM9.8 billion. Notably, the firm said the past four weeks marked the only period of foreign inflows for the year. "Foreign investors were net sellers on every trading day, with outflow ranging from RM0.9 million to RM207.7 million. "The largest outflow was recorded on Thursday at RM207.7 million, followed by Tuesday with RM80.5 million," it added. Meanwhile, MIDF Research said the three sectors that recorded the highest net foreign inflows were utilities (RM56.5 million), construction (RM54.4 million), and telecommunications and media (RM48.1 million). The top three sectors that recorded the highest net foreign outflows were financial services (RM240.9 million), consumer products & services (RM139.1 million) and industrial products & services (RM86.2 million). The firm also noted that local institutions ended their four-week selling streak with net inflows amounting to RM222.9 million, bringing their YTD net buying to RM7.9 billion. It added that local retailers also reversed their five-week outflow trend, recording a net inflow of RM169.4 million. "The average daily trading volume (ADTV) saw a broad-based decline last week. "Local institutions and local retailers saw a decrease of 36.8 per cent and 28.1 per cent respectively, while foreign investors saw a decline of 29.1 per cent," it said.
Malay Mail
06-05-2025
- Politics
- Malay Mail
Union chief Ng Chee Meng declines Cabinet post after backlash over past behaviour, dinner with money launderer Su Haijin
SINGAPORE, May 6 – Newly-elected PAP MP Ng Chee Meng has today apologised after several posts about his past conducts went viral following his Jalan Kayu SMC win in the general election over the weekend. Ng, who is also the National Trades Union Congress secretary-general, said he has asked Singapore Prime Minister Lawrence Wong not to assign him any position in the government. 'The PM has agreed to consider this. My heart will always be for Singapore and Singaporeans,' he said in a statement here. The response came following online remarks about his conduct at a Ministry of Education dialogue in 2017, and a photo that has surfaced of him with convicted money launderer and Fujian gang member Su Haijin. 'I could have handled the situation better. I sincerely apologise. I have received and accepted the feedback, and will continue to do better,' he said. This comes as Ng had allegedly reacted angrily to a question from the audience, and that he had asked attendees if they read fiction or serious books. Ng also dismissed the dinner with Su, which he said took place some time back and he had no further interactions with the latter after police investigations and criminal charges were brought against him. 'As the secretary-general of NTUC, it is part of my work to engage with different companies and private-sector leaders. 'These engagements help me better understand the concerns and challenges in different industries,' he said. This follows a statement from the press secretaries of Ministers Ong Ye Kung and Chee Hong Tat, who said in a joint statement that the ministers do not know Su personally, and do not have any contact with him. Su, a Cypriot national, was among 10 foreigners arrested in a S$3 billion (RM9.8 billion) money laundering case on August 15, 2023. He was sentenced to 14 months' jail in April 2024, after admitting to one charge of resisting arrest and two money laundering charges. Another 11 charges were taken into consideration during sentencing.
Malay Mail
06-05-2025
- Politics
- Malay Mail
Singapore health, transport ministers deny links to Fujian gangster Su Haijin after dinner photos spark scrutiny
SINGAPORE, May 6 – Singapore Ministers Ong Ye Kung and Chee Hong Tat have clarified that they had no personal connection with Su Haijin, a known member of a Fujian gang, after photos surfaced showing them at the same dinners as him. In a joint statement released by their press secretaries, the ministers said they attended the gatherings at the invitation of a friend and were unaware that Su would be present. 'As ministers, they meet a diverse range of people at various events and gatherings,' the statement read. It added that Ong recalled encountering Su again at a separate dinner months later. Ong Ye Kung is serves as the Singapore health minister, while Chee Hong Tat is transport minister and second finance minister. The statement stressed that the ministers had no dealings or contact with Su before or after those dinners. The statement added that the PAP government upholds a high standard of integrity, and the ministers are determined to uphold this although they may inadvertently come into contact with people who are later established to be unsavoury. Su, a Cypriot national, was among 10 foreigners arrested in a S$3 billion (RM9.8 billion) money laundering case on August 15, 2023. He was sentenced to 14 months' jail in April 2024, after admitting to one charge of resisting arrest and two money laundering charges. Another 11 charges were taken into consideration during sentencing. Photos of Ong and Chee with Su were posted on the Instagram account of former Reform Party president Charles Yeo.
