KUALA LUMPUR: Malaysia's richest tycoons defied pandemic headwinds to record an increase in their collective wealth in 2021, contributed in part by the financial windfall experienced by Malaysian rubber glove manufacturers.
HONG KONG: Top Glove Corp’s plan to list in Hong Kong and raise up to US$1bil (RM4.13bil) has been delayed as the world’s largest rubber glove maker seeks to resolve a US import ban on its products, sources with direct knowledge of the matter said.
KUALA LUMPUR: Top Glove Corp Bhd said the company remained committed to its plans to list new shares in Hong Kong after news reports suggested that the proposed initial public offer (IPO) has been delayed.
(Bloomberg) Malaysian stocks dropped and the ringgit weakened after the government imposed a two-week nationwide lockdown to curb a relentless surge in Covid-19 infections.The FTSE Bursa Malaysia KLCI Index fell as much as 1.6% on Monday, before paring losses to 0.7% at the close in Kuala Lumpur. The ringgit slid as much as 0.4% to 4.1480 per dollar, while 10-year bond yields rose three basis points to 3.25%. The government said on Friday that most businesses will be shut from June 1 except for essential economic and service sectors.“The government is finally biting the bullet,” said Alexander Chia, an analyst at RHB Investment Bank Bhd. “Clearly, there are downside risks to FY21 earnings growth, even if it is essentially a postponement of growth to FY22.”Malaysia’s return to a hard lockdown comes in the wake of record daily infections that saw cases top 9,000 on Saturday. A resurgence in virus outbreaks in Asia has spurred some countries including
(Bloomberg) Malaysian stocks tumbled and the ringgit weakened after the government imposed a two-week nationwide lockdown to curb a relentless surge in Covid-19 infections.The FTSE Bursa Malaysia KLCI Index slumped as much as 1.6% on Monday, the most since March 31. The ringgit slid as much as 0.4% to 4.1480 per dollar, the biggest decline in Asia. Ten-year bond yields rose two basis points to 3.24%. The government said on Friday that most businesses will be shut from June 1 except for essential economic and service sectors.“The government is finally biting the bullet,” said Alexander Chia, an analyst at RHB Investment Bank Bhd. “Clearly, there are downside risks to FY21 earnings growth, even if it is essentially a postponement of growth to FY22.”Malaysia’s return to a hard lockdown comes in the wake of record daily infections that saw cases top 9,000 on Saturday. A resurgence in virus outbreaks in Asia has spurred some countries including Vietnam a