News by theedgemarkets.com

MARC Ratings has affirmed its rating of AA+ with a stable outlook for Sime Darby Property Bhd’s (SD Property) RM4.5 billion Islamic medium-term notes (IMTN) programme (Sukuk Musharakah). The outstanding under the rated programme stood at RM800 million as of Nov 30, 2022.

Economists, in general, are keeping their view that Bank Negara Malaysia (BNM) will raise the overnight policy rate (OPR) by another 50 basis points (bps) to 3.25% in 2023, amid expectation that inflationary pressure will ease.

Toyo Ventures Holdings Bhd's units have entered into an interim agreement with a consortium led by Sunway Construction Group Bhd (SunCon) to negotiate details for the consortium to undertake a US$2.2 billion (RM9.73 billion) job for the development of a 2,120 MW coal-fired power plant in Vietnam.

Tiong Nam Logistics Holdings has entered into a joint venture (JV) agreement with Johor Corp to develop a high-tech logistics industrial park on a 300-acre land at Sedenak Technology Valley, Johor.

A unit of Berjaya Corp Bhd (BCorp) is acquiring six parcels of freehold land collectively measuring about 20,977.15 square metres in Yokohama, Japan, for ¥12.66 trillion (RM408.82 million) cash.

Depending on the steelmaking route, both steelmaking and rolling processes consume up to 650 kWh electricity to produce one tonne of steel product. 

Samaiden Capital Management Sdn Bhd will operate and maintain the system, which has a capacity of 531 kilowatt-peak (kWp) for a duration of 20 years.

As robust consumer demand drove November's consumer price index up 4% year-on-year — with core inflation hitting a new high of 4.2% — economists expect the upbeat momentum to continue and result in Bank Negara Malaysia having to raise the overnight policy rate or OPR by another 25 basis points to 3% in its Monetary Policy Committee meeting next month.

Putrajaya MRT Line Phase 2 will be fully operational from March 2023, as the construction of the line has been completed.

There are also new and refreshed stores at both Genting Highlands Premium Outlets (Burbery and Salvatore Ferragamo) and Johor Premium Outlets (Balenciaga, Bally, Fendi, Hooga, Karl Lagerfeld, Kenzo, Sacoor Outlet and Valentino) to welcome visitors.