Malaysia Market Highlights - 12 Oct, 2015

Market Highlights

• Bursa Malaysia opened higher in the early session today with stronger investor optimism resulting in persistent buying interest in heavyweights.

• The FTSE Bursa Malaysia Kuala Lumpur key index was up 6.34 points to 1,712.88, after opening 3.3 points easier at 1,703.24.

• The ringgit opened softer against the US dollar today on profit taking after last week's rally. 

• Petroliam Nasional Bhd (Petronas) said it is committed to its Canadian liquefied natural gas (LNG) project despite the tumble in oil and gas prices which has hurt the state-owned oil company’s profitability.

• 1Malaysia Development Bhd (1MDB) has confirmed that it will hand over its US dollar-denominated cash deposits and part of its US dollar funds under management, either in cash or units, in exchange for International Petroleum Investment Co (IPIC) taking over US$3.5 billion bond principal and interest obligation.

• Mitrajaya Holdings Bhd has been awarded a RM52.19 million contract by the East Coast Economic Region Development Council for main infrastructure works at Pahang Technology Park in Gambang, Pahang.

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