KUALA LUMPUR (Feb 27): PLUS Malaysia Bhd’s wholly-owned subsidiary Projek Lebuhraya Usahasama Bhd will convene an informal call with the holders of the latter’s RM23.35 billion Islamic bonds or sukuk to discuss, among others, the proposed further extension on the execution of the toll highway operator’s supplemental concession agreements with the Malaysian government to June 30, 2022 amid ongoing negotiations on toll restructuring between the highway concessionaire and the government.
CIMB Investment Bank Bhd, which is the principal adviser and lead arranger of Projek Lebuhraya Usahasama’s Islamic medium term notes of up to RM23.35 billion in nominal value, said in a statement on Thursday (Feb 25) that the scheduled informal call on Thursday (March 4, 2021) at 10am is pursuant to the letter from Projek Lebuhraya Usahasama to the sukuk trustee Maybank Trustees Bhd on Tuesday (Feb 23, 2021).
KUALA LUMPUR (Feb 9): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Feb 10) include: Sarawak Consolidated Industries Bhd, Mitrajaya Holdings Bhd, Top Glove Corp Bhd, Supermax Corp Bhd, Eonmetall Group Bhd, LKL International Bhd, Gets Global Bhd, Dialog Group Bhd, Berjaya Food Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, Teo Seng Capital Bhd, Oriental Interest Bhd, Genting Malaysia Bhd, AirAsia Group Bhd, Sapura Energy Bhd and Scomi Energy Services Bhd.
Sarawak Consolidated Industries Bhd’s units have bagged contracts worth RM821.32 million in Malaysia and Qatar for engineering, procurement, construction and commissioning (EPCC) projects. The first contract is for an EPCC project in Kuching worth RM421.97 million for the proposed mixed development in the Muara Tuang Land District and part of River Bank reserve, with an expected duration of 108 months. The second contract is for an EPCC contract in Qatar worth US$98 millio
Malaysian Rating Corp Bhd (MARC) expects the country to record 5.6% economic growth in 2021, a lower forecast versus its previous projection of 6.4% announced last month. In a statement today, the ratings agency said Malaysia’s growth in 2021 will be supported by trade, as exports outpace imports, although it will be lower versus pre-pandemic levels
04 Feb 2021 / 09:30 H. Noticeably less traffic on the highways during MCO 2.0. MARC expects another round of fiscal stimulus this year. – BERNAMAPIX
PETALING JAYA: The extension of the latest movement control order (MCO 2.0) until Feb 18, 2021 will continue to take a toll on businesses and the country’s economy, putting further hurdles in the path to recovery.
The CEO of think-tank Center for Market Education, Dr Carmelo Ferlito, opined that if no modifications are brought in to the extension, this will heavily affect the economy, starting with small and medium enterprises and then affecting bigger players as a domino effect, depending on the duration of the restriction.
Continued foreign inflow into country bodes well for sector
PETALING JAYA: The Malaysian bond market is set to remain robust amid lingering risks after witnessing eight consecutive months of net foreign inflows into the market.
With the economic recovery underpinned by the financing of infrastructure projects, the government’s deficit financing due to stimulus measures and yield hunting activities by foreign investors, it spells good news for domestic bonds.
The government’s fiscal deficit in 2021 is projected to be at 5.4% of gross domestic product (GDP), despite a slight reduction from an estimated 6% last year.
The country’s GDP growth forecast for this year is expected to be between 6.5% and 7.5%, according to the Finance Ministry.