News by theedgemarkets.com

Bank Negara said all economic sectors of the country registered an improvement in 1Q21, particularly the manufacturing sector. 

“The return of a nationwide lockdown raises the estimated daily economic loss in Malaysia’s economy to RM300 million per day versus RM200 milion per day for a targeted MCO 3.0, and our baseline asumption of the CMCO (conditional MCO) (RM150 million per day)."

The entitlement date and exercise price of the warrants will be determined later, the property developer said in a bourse filing yesterday.

The group, however, denied that the enterprise value of the sale would be RM5.2 billion.

In a filing with Bursa Malaysia, the property developer said Bakke's resignation, effective immediately, was "due to the cessation of Sime Darby Bhd as a major shareholder of the company".

"Based on the increasing trend of daily Covid-19 cases, the government has decided to take more drastic and stringent measures to curb the spread of Covid-19 infections in the community and prevent a sharp increase in cases," Muhyiddin said.

In a Twitter update, Health director-general Tan Sri Dr Noor Hisham Abdullah said Selangor topped the list again with most Covid-19 infections at 1,149, followed by Sarawak (649), Kelantan (329) and Kuala Lumpur (320).

540 out of 1,283 beds in intensive care units were occupied by Covid-19 patients, while 356 beds were used by non-Covid-19 patients.

The ministry said all proceeds from the 1MDB asset recovery efforts, including any future settlements, are deposited into the Asset Recovery Trust Account under the custody of the Accountant-General’s Department of Malaysia. However,  these settlements will not affect or compromise Malaysia’s claims against other wrongdoers for the losses caused to 1MDB and SRC and that they will continue to be pursued through both the criminal and civil justice systems.

In a research note today, Kenanga highlighted that by undertaking the proposal, the government gets to save on toll compensations worth RM5.3 billion over the toll concessions’ remaining tenures while also indirectly help Gamuda raise PFI (private funding initiative) equity to jump-start the intended Mass Rapid Transit 3 (MRT 3) project.