Malaysia’s central bank on Thursday kept the benchmark interest rate unchanged as widely expected, amid resilient economic growth and manageable inflation.
The overnight policy rate (OPR) was maintained at 3% following the Monetary Policy Committee’s two-day meeting, Bank Negara Malaysia (BNM) said in a statement. Earlier, a survey of 22 economists by Bloomberg unanimously called for the central bank to stand pat in the fourth of six reviews scheduled for th...

The steel industry is expected to experience positive growth in 2024, with demand to be spurred by the commencement of infrastructure projects, says the Malaysian Iron and Steel Industry Federation (Misif).
‌Misif president Datuk Lim Hong Thye said if the government is able to kickstart the construction of infrastructure projects such as the mass rapid transit line three or MRT3 by this year, it will boost steel demand from the expected 8.3 million tonnes to...

As Artificial Intelligence (AI) becomes more of a realisation than just another buzzword, investors’ capital are flocking towards REAL integrators of AI solutions. However, not many investors had realised the potential of this company, YET.
Systech Berhad, a major player in HR management solutions, cybersecurity, and e-logistics, has partnered with EH Integrated Systems Sdn. Bhd. (EISSB). This collaboration is all about supercharging Malaysia’s dig...

Oil prices rose slightly on Thursday in up-and-down trade, supported by an Opec forecast for demand growth and as data showing an US easing labor market and slowing inflation which stoked hopes for Federal Reserve rate cuts despite recent comments form Fed officials.
Brent crude futures settled at US$82.75 a barrel, up 15 cents, or 0.2%. West Texas Intermediate (WTI) US crude futures settled at US$78.62 a barrel, gaining 12 cents, or 0.2%. Both ...

Malaysia’s Producer Price Index (PPI), which measures the price changes of goods at the producer level, increased by 1.9 per cent year-on-year (y-o-y) in April 2024, said the Department of Statistics Malaysia (DoSM).
In March 2024, the PPI was up 1.6 per cent y-o-y, it added.
In its latest monthly report on the PPI Local Production for April 2024, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said all sectors registered an increase durin...

Malaysia’s new vehicle sales surged 21 per cent to 57,991 units in April 2024 from 47,802 in the same month last year, according to the Malaysian Automotive Association (MAA).
The association noted that the total industry volume (TIV), however, was 18 per cent lower compared with March 2024’s TIV of 71,052 units.
"(April was a) short working month due to the Hari Raya festive holidays,” it explained in a statement today.
A total of 53,253 passenge...

Bursa Malaysia could be seeing some positive spillover from Wall Street markets following the release of a US producer inflation report.
The FBM KLCI opened on a cautious note, barely moved at 1,605.75 as investors stayed on the sidelines while they digested the recent developments in the US.
Overnight, the technology-heavy Nasdaq climbed 0.75% to a new record of 16,511.18 points. The Dow Jones Industrial Average gained 0.32% to 39,558.11 while the S&P50...

The flow of foreign funds into Bursa Malaysia accelerated 3.6 times from the week before to RM1.06bil net, which represents the largest recorded net inflow in over two years.
The jump in foreign buying interest in Malaysian stocks came in tandem with an increase in foreign inflow to regional markets, spurred on by improved risk appetite for equities.
"Foreign funds returned to Asia at a rate of US$1.09bil last week after two weeks of net se...

Oil prices were down 1% on Monday, erasing gains from Friday as Israel-Hamas peace talks in Cairo eased fears of a wider conflict in the Middle East and U.S. inflation data further dimmed the prospects of interest rate cuts anytime soon.
Brent crude futures fell by as much as 98 cents, or 1.09%, to $88.52 a barrel by 0644 GMT. West Texas Intermediate (WTI) futures were down 83 cents, or 0.99%, at $83.02 a barrel.
Stepped-...