<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 6): The Malaysian ringgit continue to weaken against the US dollar today and is approaching to its 17-year low of 3.9340 recorded on September 1, 1998.</p></div>

<div class=newsTextDataWrapInner><p>As at 11.26am, the ringgit weaken by 0.36% to quote at 3.8915 against the greenback. It had earlier fallen to a low of 3.8950 before paring losses.</p></div>

<div class=newsTextDataWrapInner><p>According to <em>Bloomberg</em> data, this was the weakest level since Sept 2, 1998.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The ringgit had fallen to a low of 4.7125 on Jan 9, 1998 against the greenback before the Bank Negara Malaysia (BNM) pegged the ringgit to the US dollar in September 1998 at 3.8000.</p></div>

<div class=newsTextDataWrapInner><p>In a currency note on Thursday, Ambank foreign exchange research said it expects Malaysia's ringgit to trade in the range of 3.8670 to 3.9120 against the greenback today.</p></div>

<div class=newsTextDataWrapInner><p>"This morning ringgit opened at 3.8793 against the US dollar. If the resistance of 3.9120 is breached, we expect the ringgit to trade higher to 3.9220. If the support of 3.8670 is broken, the next support is at 3.8590," it added.</p></div>

<div class=newsTextDataWrapInner><p>In comparison, the ringgit also depreciated by 0.39% against the Singapore dollar to be quoted at 2.8120 at the time of writing.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (Aug 6): The Malaysian ringgit continue to weaken against the US dollar today and is approaching to its 17-year low of 3.9340 recorded on September 1, 1998.

As at 11.26am, the ringgit weaken by 0.36% to quote at 3.8915 against the greenback. It had earlier fallen to a low o...

Ringgit at almost 17-year low against US dollar

The government is looking at the need to formulate policies and amend any relevant legislation so that Malaysia is always investor-friendly and can support the development of artificial intelligence (AI) infrastructure, said Prime Minister Datuk Seri Anwar Ibrahim.

However, he said data security should be given priority.

Govt mulls drafting policy, amend legislation to be investor-friendly and support AI development — PM

KUALA LUMPUR (April 19): Iconic Worldwide Bhd has raised a total of RM95.6 million through its rights issue exercise with free warrants, which was oversubscribed.

Iconic Worldwide’s rights issue oversubscribed, raises RM95.6 mil

KUALA LUMPUR (April 19): Proposals for improvement, including efforts to increase the net income rate of civil servants, will be announced by Prime Minister Datuk Seri Anwar Ibrahim at the Labour Day rally to be held later.

Anwar, in his Facebook post, said the Meeting No 3/2024 of the ...

Proposal to improve salary of civil servants to be announced at Labour Day gathering — PM

Prime Minister Datuk Seri Anwar Ibrahim said on Friday he does not want to be dragged into discussions over the purported addendum order on house arrest involving former premier Datuk Seri Najib Tun Razak.

Anwar said this was because the matter falls under the jurisdiction of the Federal Territories Pardons Board and also involves the Yang di-Pertuan Agong and the Malay Rulers.

Addendum order issue under Pardons Board's purview, says Anwar

SINGAPORE (April 19): CGS-CIMB Securities has officially rebranded as CGS International Securities (CGS International), as the integrated financial services provider launched its new identity in Singapore on Thursday (April 18).

CGS-CIMB Securities rebrands as CGS International, aims to double revenue to S$700 mil by 2030

KUALA LUMPUR (April 19): Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement, the company said on Friday.

Trading in Sapura Energy suspended pending announcement

KUALA LUMPUR (April 19): Silver Ridge Holdings Bhd said its wholly owned unit is being sued by a subcontractor over alleged outstanding contract payments.

Silver Ridge’s unit slapped with suit over alleged unpaid contract sums

A weekly round-up of tanker and dry bulk market (April 19, 2024)

Baltic Exchange shipping updates: April 19, 2024

Malaysia’s economic growth will likely pick up pace in the quarters ahead, economists say, though some are cautioning that global uncertainties raise the risk of undershooting the official target for 2024.

This follows the Department of Statistics Malaysia's advanced gross domestic product (GDP) estimate of 3.9% for the first quarter of 2024 (1Q2024).

Malaysia's economy will pick up pace but global uncertainties remain key risks — economists

DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.

Tehran signals no retaliation against Israel after drones attack Iran

<p>KUALA LUMPUR (April 19): Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement, the company said on Friday.</p>


Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

<p>MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;</p>


Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

<p>The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.</p>


Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


KLCI up 0.43% with focus on energy, plantation, financial stocks

<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</p>


Malaysia’s March exports down 0.8%, imports surge 12.5%

<p>Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.</p>

<p>In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.</p>


MIDF confirms cyber security incident

<p>Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.</p>


Sime Darby Property gets commitment for balance 30% of RM1b industrial development fund

<p>Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.</p>


Kenanga sees Main-Market bound Keyfield International cashing in on OSV boom, sets target price at RM1.90

<p>Automotive electronic parts manufacturer MCE Holdings Bhd has commenced the construction for its MCE Auto Hub, the company’s new manufacturing facility in Serendah, Selangor, with an initial investment of RM50 million for the first phase of the development.&nbsp;</p>


MCE Holdings commences construction for RM50 mil manufacturing facility in Serendah 

<p>PUTRAJAYA (April 19): Payment of fees&nbsp;for training or classes in esports, equestrian, swimming, motorsports and taekwondo is&nbsp;eligible for&nbsp;tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.</p>


Payment of fees for sports training eligible for tax relief from next year — Hannah

<p>KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.</p>


Yinson’s unit places US$500 mil five-year senior secured bonds

<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>


Melaka State Secretary Zaidi dies of heart attack

<p>Batik Air will suspend its operations to Istanbul, Turkiye, effective May 1, 2024, and affected passengers will be notified via email and text, said the airline operator, Malindo Airways Sdn Bhd.</p>


Batik Air to suspend operations to Istanbul from May 1

<p>KUALA LUMPUR (April 19): Meta Bright Group Bhd is forming a joint venture company (JVco) with a Bumiputera firm to bid for renewable energy (RE) projects with a Bumiputera equity requirement.</p>


Meta Bright forms JVco with Bumiputera firm for RE projects

<p>EG Industries Bhd has secured a second letter of intent (LOI) from US-based Cambridge Industries Group (CIG) to produce a new 1.6 terabit optical signal transmitter and receiver for a 5G wireless network at EG Industries’ new smart factory 4.0 in Penang.</p>


EG Industries expands partnership with US-based Cambridge Industries Group

<p>KUALA LUMPUR (April 19): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close today. Four stocks displayed negative momentum while one stock displayed positive momentum</p>

<h3>Stocks with negative momentum were:</h3>

<ul>
	<li>Kimlun Corp Bhd - unch...

Kimlun, Mclean, Poh Kong, Tomei, BM Greentech

<p>Bursa Malaysia ended the week mixed on Friday with buying in selected heavyweights and commodity-related stocks amid the negative sentiment on regional markets, said an analyst.&nbsp;</p>
