News by TheEdgeMarkets.com

Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) on Wednesday (May 11) increased the overnight policy rate (OPR) by 25 basis points to 2% from a record low of 1.75% as global inflationary pressures have increased sharply and after taking into account that the sustained reopening of global economy and improvement in labour markets continue to support the recovery of economic activity from the impact of Covid-19-driven movement restrictions.

Construction outfit Nestcon Bhd has received a letter of award (LoA) for a job worth RM85 million to design and build an integrated offsite scheduled wastes recovery facility in Kerteh, Terengganu.

Sunsuria Bhd has announced its collaboration with Affin Bank’s Home Step Fast/-i campaign to offer homebuyers a lifestyle ownership programme with a financing solution that allows them to pay a lower instalment for the first five years

In a bourse filing, Pensonic said its wholly-owned Pensia Electronic Sdn Bhd (PESB) has inked a sale and purchase agreement (SPA) with HZGP on Monday (May 9) to dispose of the plot, which measures 1.2ha, together with the structures on it, comprising an office block and two two-storey warehouses, a guard house and ancillary buildings.

In a bourse filing, ES Ceramic said the acquisition will be satisfied via a combination of RM65 million cash and the remaining RM18 million will be paid in the form of new ES Ceramic shares, at an issue price of 32 sen per share.

Maybank IB analyst Yin Shao Yang said in a note that he understands that business at RWG has slowed from March due to the Omicron wave, and RWG has reopened only half of its about 10,000 rooms despite being allowed to reopen all from April 1.

In a statement on Friday (April 29), the property developer said it aims to become a stronger proponent of workplace safety and health in the property development industry in Malaysia.

This comes as revenue increased 10% to RM138.78 million from RM126.21 million on higher revenue rent and income from advertising, after more economic sectors and businesses were allowed to re-open under Phase 4 of the National Recovery Plan. 

In a bourse filing on Thursday (April  28), ACE Market-listed Vortex said it has entered into a conditional sale and purchase agreement with developer Aset Kayamas for the proposed acquisition.

In a trading stocks note today, the research house said the “higher high” bullish pattern that emerged yesterday may cause the stock to jump further towards hitting RM1.50, followed by the RM1.56 resistance.