Sabah & Sarawak

SEB to undertake more CSR programmes in 2017

Sarawak Energy Bhd (SEB) will continue to strengthen its operations by further improving its infrastructure and facilities to serve the people of Sarawak.

Aside from corporate development, SEB will also undertake several corporate social responsibility programmes this year.

Analysts expect no major changes in state government policies

Analysts do not expect any major changes in Sarawak’s state government policies following the passing of Chief Minister Datuk Patinggi Tan Sri Adenan Satem.

The research arm of MIDF Amanah Investment Bank Bhd said Adenan’s continued emphasis on achieving autonomy for the state government through the devolution of power away from the federal government during his tenure has been highly popular and successful with many efforts bearing fruit.

Magnum confident of maintaining strong operations in Sarawak

ENE (East Malaysia) Sdn Bhd, a subsidiary of Magnum 4D Bhd, is confident of maintaining its strong operations in Sarawak. Having 53 outlets throughout the state, the gaming operator is poised to prosper with the opening of its new office located at Trinity Hub, Jalan Datuk Tawi Sli here.

Gadang JV consortium procures solar PV plant project in Sabah

A joint venture consortium between Gadang Holdings Bhd and BT Solar Sdn Bhd has secured a solar photovoltaic plant project in Sabah.

RAM assigns AA3 Stable rating to CMS proposed Islamic MTN programme

RAM Ratings has assigned an AA3 stable rating to Cahya Mata Sarawak Bhd’s proposed RM2 billion Islamic Medium Term Notes Programme (2017/2037). The firm also reaffirmed the AA3 stable P1 corporate credit ratings of CMS.

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National

GFM debuts on Ace Market at 46 sen

GFM Services Bhd made its debut on the Ace Market of Bursa Malaysia at 46 sen, an eight sen premium above its issue price of 38 sen. The integrated facilities management firm, which recently completed a reverse takeover of AsiaEP Resources Bhd, saw 3.28 million shares changing hands at the opening bell.

Corporate Malaysia positive about business outlook in first half

Sentiments are positive for the first half of 2017 with corporates displaying a slightly higher positive outlook with 56.9 as compared to small and medium enterprises (SMEs), which recorded 53.2.

HLT Global debuts on Bursa Malaysia at 55 sen for 10 sen premium

HLT Global Bhd made its debut on the Ace Market of Bursa Malaysia at 55 sen, a 10 sen premium above its issue price of 45 sen each. The glove-dipping lines manufacturer, which had an oversubscription rate of 24.64 times during balloting, saw 5.37 million shares changing hands at the opening bell.

World bank expects Malaysia’s economy to grow by 4.3 pct in 2017

The World Bank expects Malaysia’s economy to grow by 4.3 per cent in 2017 and further expand by 4.5 per cent next year as an adjustment to lower energy prices eases and commodity prices stabilise. This signals a moderate expansion path from a low of 4.2 per cent growth expected in 2016.

New PCAP Regulation 2016 to benefit consumers in short-run, but price increases still imminent

The Ministry of Domestic Trade, Co-operatives and Consumerism’s new Price Control and Anti-Profiteering (PCAP) Regulation 2016, to be fully effective April 2017, is expected by analysts to be beneficial for consumers in the short-run but price increases are still imminent. The research arm of Kenanga Investment Bank Bhd hoped for an easing of regulation on pricing matters with the expiration of the PCAP Regulation 2014, as companies suffered margin compression from the rising production overheads with limited means to pass costs down to consumers via higher prices.

Deferment of levy the right move

A one year moratorium on the payment of the levy by employers under the Employer Mandatory Commitment (EMC) until next year is suitable in the current challenging economic situation, says the Malaysian Rubber Glove Manufacturers Association (MARGMA).

SC expects companies to raise up to RM105 bln in capital in 2017

The Securities Commission (SC) expects companies to raise between RM90 billion and RM105 billion in capital this year, with a bulk of it from bonds and sukuk.

Chairman Tan Sri Ranjit Ajit Singh said here, of this amount, about RM85 billion would be raised through bonds and sukuk, RM7 billion each from Initial Public Offerings and equities respectively, and the rest from the secondary market.