Malaysia 2Q20 GDP to decline 18.5% y-o-y, UOB says
In a 2Q20 preview note today, the research house said this is lower compared to its initial estimate of 12% y-o-y and 1Q20’s +0.7% y-o-y.
BNM’s Shariah Advisory Council issues ruling on Islamic loan restructuring, profit compounding
The ruling, which is published on the central bank’s website, concerns the restructuring of an Islamic financing facility based on original shariah contracts, restructuring the facility into a conventional loan, and compounding profit on restructuring.
Boustead Holdings sues former chairman, ex-MD and four former directors for £6.4 million
Lodin resigned from Boustead and its related subsidiaries on Nov 30, 2018, while the others left the company last year.
Speaker rejects Pua's motion aimed at setting up panel to monitor 1MDB assets' recovery
Pua had proposed a motion to amend Datuk Seri Ahmad Maslan's (BN-Pontian) motion of thanks, to facilitate debate on the need for a special select committee to evaluate the actions taken by the government to recover cash and assets related to 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd.
Sivagangga, Kurau clusters linked to Hari Raya visiting activities — Health D-G
He said the two clusters saw an uptick in new infections following the festive season.
Covid-19: Malaysia records 11 new cases, three from Kurau cluster
Meanwhile, active cases fell further to 166 from 174 reported by the ministry yesterday, leaving only one patient in the intensive care unit.
Capital and rental values in global cities fall by 0.5% and 1.1% respectively in 1H20, says Savills
“Global uncertainty had been weighing on prime residential markets in 2019, with modest falls of 0.3% recorded in the six months to December 2019. Combined, the annual average price movement turned negative for the first time since 2009, down 0.8% for the year to June 2020,” according to Savills Prime Index: World Cities (August 2020) report.
Hartalega unit buys 60.57-acre land worth RM158.3m to expand glove manufacturing facilities
In a bourse filing today, the group said its wholly-owned subsidiary Hartalega NGC Sdn Bhd has accepted the offer for sale from Kumpulan Tanjung Balai Sdn Bhd for the land located in Mukim Labu, Sepang, Selangor.
Bersatu may consider abolishing chairman position, says Redzuan
“Bersatu was founded by party president Tan Sri Muhyiddin Yassin. Dr Mahathir, at that time, was invited [into Bersatu] as a member and he wanted to be the adviser,” Bersatu Supreme Council member Datuk Seri Mohd Redzuan Md Yusof told a press conference after the Parliament morning session here today.
AmBank: Sunway Construction could still turn in a small profit in 2QFY20
However, the research firm believes Sunway Construction’s current market valuations are still rich.
