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KUALA LUMPUR: Shares of Perisai Petroleum Teknologi Bhd slipped 12% in early trade Wednesday after its unit’s landlord demanded a RM2.75mil payment for a breach of agreement.
Brent crude was 0.50% lower to US$55.72 per barrel at 3.48pm. Forex Ringgit up 0.24% to 4.2270 versus the US dollar at 3.58pm. Top foreign stories India seeks to raise up to US$1.7b from state-run reinsurer GIC Re’s IPO: State-run reinsurer General Insurance Corp of India (GIC Re)’s initial public offering of shares next week seeks to raise as much 113.7 billion rupees (US$1.7 billion) in what will be India’s second-biggest IPO. (0-1)
MarketWatch: US stocks sold off on Thursday, with the S&P 500 recording its biggest daily percentage drop in three months as escalating worries about the Trump administration's ability to push through its economic agenda rattled investors. The DJIA ended down 274.14 points, or 1.24%, to 21,750.73, the S&P 500 lost 38.1 points, or 1.54%, to 2,430.01 and the Nasdaq dropped 123.20 points, or 1.94%, to 6,221.
UOB Asset Management (M) Bhd CEO Lim Suet Ling(pic) told StarBiz that investors are turning more cautious on the local debt market in the second half of this year pressured by rising global rates.
PETALING JAYA: Nam Cheong Group Bhd is the latest company that is unable to service its debts due to the prolonged downturn in the oil and gas (O&G) industry.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,764.90, up 2.16 points, against last Friday's close of 1,762.74. — Reuters picKUALA LUMPUR, May 8 — Bursa Malaysia remained in positive territory at mid-day prompted by continuous buying momentum in selected heavyweights led by Maybank.
Conservative estimates suggest that in the wake of oil prices crashing in late 2014, the Malaysian oil and gas services and equipment (OGSE) sector contracted by at least 11%. Analysis of overall financials for the OGSE sector by the Malaysian Petroleum Resource Corp, an agency under the Prime Minister's Department, reveal that revenue for 2015 fell by 11%, while profits contracted by a severe 52.3%.
ALL is not well yet for Perisai Petroleum Teknologi Bhd, as the Malaysia-based upstream oil and gas services provider is hit with a triple whammy, hampering its return to profitability.
KUALA LUMPUR (March 8): Based on corporate announcements and news flow today, the companies in focus on Thursday (March 9) may include the following: Iskandar Waterfront City, Alam Maritim, Enra, LBS Bina, CIMB Group, GHL Systems, AmBank, Engtex and Wintoni.
THE Malaysian oil services firm that defaulted on US$89.3 million in bonds last October is trying again to settle its debts with bond holders.
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KUALA LUMPUR (Feb 27): The FBM KLCI struggled to to remain above the 1,700-point level at the midday break today as sellling persisted on Bursa Malaysia, despite the regional markets reversing earlier losses.
KUALA LUMPUR (Feb 27): Perisai Petroleum Teknologi Bhd’s shares were up as much as 1.5 sen or 21.4% this morning to 8.5 sen, as the Practice Note 17 company returned to the black in its second financial quarter ended Dec 31, 2016 (2QFY17).
KUALA LUMPUR (Feb 27): The FBM KLCI clawed back to above the 1,700-point level at mid-morning today,lifted by select blue chips.
KUALA LUMPUR (Feb 27): The FBM KLCI is expected to remain below the crucial 1,700-point level today with support seen beetwen 1,690 – 1,695.