- EPF chief government officer Datuk Seri Amir Hamzah Azizan mentioned the inventory market continued to be the primary revenue contributor for the fund, accounting for 54% of complete gross funding revenue at RM7.5bil.
- After considering the price write-down, RM13.86bil of web funding revenue was recorded for the third quarter of FY21.
- Meanwhile, the EPF’s investments in mounted revenue devices contributed RM5bil, or 36%, of the third quarter FY21 gross funding revenue, which was decrease than the RM8.18bil revenue generated a yr earlier, on account of decrease buying and selling positive factors.
Genting’s shipbuilding units in Germany file for bankruptcy
- With journey nonetheless severely restricted through the coronavirus pandemic, notably in Asia, the corporate has seen demand for enormous cruise ships or luxurious mega-yachts dwindle.
- Designed to hold near 10,000 passengers, the large ship had been on account of depart the shipyard in 2021 – however the pandemic has knocked the corporate’s timetable off track and crimped its funds.
- Around 600mil (RM2.85bil) is critical to finance the completion of the vessel, for which the shipbuilder has been looking for help from the federal government.
Corporate News
Top Glove appoints two independent non executive directors
- Top Glove mentioned to foster goal and unbiased deliberation, assessment and determination making of the board, it has restricted the tenure of INEDs to 9 years with out additional extension, consistent with the Malaysian Corporate Governance Code.
- Lester Garson Huang Huang, a practising solicitor and notary, is at the moment the managing accomplice and co chairman of P. C. Woo & Co, a authorized agency in Hong Kong.
- He is at the moment serving as INED on the boards of Hong Kong public listed firms Guoco Group Limited, Lam Soon Hong Kong Limited and Kidsland International Holdings Limited.
AirAsia
-taking-all-necessary-steps-to-address-pn17-status” goal=”_blank”>Airasia taking all vital steps to deal with PN17 standing
- AirAsia Group Bhd (AAGB) is within the midst of formulating a plan to regularise its monetary situation with the intention to tackle its Practice Note 17
- Group chief government officer Tan Sri Tony Fernandes mentioned AirAsia’s strong and various firm portfolios will enable it to quick observe the regularisation of its monetary place and has affirmed the sturdy viability of its enterprise shifting ahead.
- Importantly, we’re not simply an airline anymore (that’s) solely reliant on airfares.
Banking
Citigroup to exit its biggest branch network
- Citigroup Inc is planning to exit retail-banking operations in Mexico – the place it has its largest department community on the planet – as a part of chief government officer Jane Fraser’s continued push to overtake the agency’s technique.
- The exit might in the end take the type of a sale or a public-market various, and can be topic to regulatory approval, Citigroup mentioned.
- Citigroup in 2001 agreed to pay US$12.5bil (RM52bil) for what was then generally known as Grupo Financiero Banamex-Accival, Mexico’s second-largest financial institution on the time.
Lim Chee Sing appointed external member of Bank Negara MPC
- Bank Negara has appointed Lim Chee Sing as an exterior member of the financial coverage committee for a two-year time period efficient Jan 1, 2022.
- In a press release, the central financial institution mentioned Lim was the manager director and chairman of RHB Research Institute Sdn Bhd from 2013 to 2017.
- He was additionally the group chief economist of the RHB Banking Group and an fairness market strategist for the Malaysian marketplace for RHB Research Institute.
Omar Siddiq appointed CEO of HSBC Malaysia
- HSBC Bank Malaysia Bhd has appointed Omar Siddiq to the put up of CEO, succeeding incumbent Stuart Milne who’s retiring at end-March 2022.
- In a press release, the financial institution mentioned Omar, who was most lately the deputy CEO, Malaysia, and CEO of group wholesale banking at CIMB Group Holdings Bhd, will report back to Surendra Rosha, co-chief government for HSBC, Asia Pacific.
- Omar will even be a part of the boards of HSBC Bank Malaysia Bhd and HSBC Amanah Malaysia Bhd as an government director, in addition to a member of the Asia Pacific government committee.
Asean
AirAsia addressing PN17 status, says Fernandes
- Group chief government officer Tan Sri Tony Fernandes mentioned AirAsia’s strong and various firm portfolios will enable it to quick observe the regularisation of its monetary place and has affirmed the sturdy viability of its enterprise shifting ahead.
- Importantly, we’re not simply an airline anymore (that’s) solely reliant on airfares.
- Bursa Malaysia had on Jan 13 dismissed AAGB’s attraction looking for to increase an 18-month reduction interval from being labeled as a PN17 firm that ended on Jan 7, 2022, Bernama reported.
Investment
Investing is about stock picking
- WHAT if firstly of 2021, you got a selection between selecting an exchange-traded fund (ETF) that tracks all the primary Bursa Malaysia Index collection, which index would you select’ Other than the FBM KLCI, Bursa Malaysia has some 20-odd indices that sometimes do not solely observe the assorted sectors, however are additionally damaged into varied classes just like the FBM Mid 70 Index, FBM Top 100 Index, the FTSE4Good Bursa Malaysia Index, FBM Small Cap Index, FBM Mids Cap Index, the FBM Emas Index, FBM ACE Index, and the FBM Fledgling Index.
- At the identical time, firstly of 2021, you had been additionally knowledgeable that previously two years, the very best performing index amongst all of the indices was the Bursa Malaysia Healthcare Index, which rose 174%, adopted by the FBM ACE Index, which was up by 149%, and the BM Technology Index, which jumped 138%.
- The Bursa Malaysia Property Index, which was down 16%, adopted by the Bursa Malaysia Finance Services Index, which fell by 11%, and the third-worst performing index was the Bursa Malaysia REITs Index, which gave up about 10% in worth.
Forex
Ringgit retreats against US dollar
- The ringgit has retreated from its positive factors over the previous few days to open decrease in opposition to the US greenback on Friday regardless of the weaker buck, dragged down by the declining oil worth, an analyst mentioned.
- At 9.03 am, the native foreign money was buying and selling at 4.1800/1830 in opposition to the US greenback in contrast with 4.1750/1775 at yesterday’s shut.
- He advised Bernama that the short-term outlook for crude oil nonetheless has many dangers, however optimism continues to be excessive.
by 
