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Bursa Malaysia was slightly higher in early trade on Wednesday (Feb 8), as bargain-hunting emerged following Tuesday's sell-off, a dealer said. At 9.15am, the benchmark FBM KLCI had risen by two points to 1,478.38, from Tuesday's close at 1,476.38.
PETALING JAYA: Although economic experts are forecasting the gross domestic product (GDP) to grow by a decent 4% to 5.5% this year, they say global headwinds could potentially suppress corporate Malaysia’s economy.
RAM Rating Services Bhd has upgraded and reaffirmed the credit quality of three listed entities of YTL Group on the back of improved earnings and dividend paying capabilities, along with a proven operating track record.
Malaysia’s cost of borrowing increased for the fourth time this year as Bank Negara Malaysia (BNM) hiked the Overnight Rate Policy (OPR) by another 25 basis points to 2.75% at the sixth and final Monetary Policy Meeting (MPC) for 2022. Though the hike was widely anticipated by the market, the central bank is far from done and remains keen to rein in inflation by continuing to increase OPR next year until it reaches a neutral rate of 3.25%-5%.
United Overseas Bank (Malaysia) Bhd has successfully priced RM1 billion of Tier 2 subordinated medium-term notes (MTN) due in October 2032.