Maybank Islamic Bhd, HSBC Amanah Malaysia Bhd and RHB Islamic Bhd have effectively finished up a seven-year RM610 million Islamic fund office for Columbia Asia Sdn Bhd.
Columbia Asia will utilize the Islamic office to renegotiate its current obligation and to part-back its new healing facility improvements in Klang (Selangor), Batu Kawan (Penang), Tebrau (Johor), alongside related development works for the current doctor’s facility in Nusajaya (Johor).
The development of the new healing centers is relied upon to be finished by 2019.
“This exchange is a historic point raising money for the gathering. The financing would encourage our natural development arranges in Malaysia to satisfy our central goal to convey the best clinical results in the best, proficient and minding condition,” Columbia Asia Group CFO Dilip Kadambi said in an announcement as of late.
“Columbia Asia Group is resolved to extend its operations to take care of the developing demand in human services needs crosswise over Asia,” he included.
Maybank Islamic (CEO) Datuk Rafique Merican said the most recent arrangement is another confirmation of the bank’s dedication to give Islamic financing in the market.
“Working intimately with the Columbia Asia group and understanding their needs, we could build up an answer that bolstered their long haul development arranges,” HSBC Amanah CEO Arsalaan Ahmed said.
Best Stock Recommendation Malaysia
Rubber Gloves:We keep up our OVERWEIGHT rating on the elastic gloves area. The stage is set for a strong 2H17 after 75% of frail quarterly profit development. We expect Top Glove and Hartalega to lead the path, according to their previous two quarterly outcomes, which are get-together force led by higher ASPs and edge development indicating towards a strong 2H17. Moving into 2H17, we anticipate that profit development will be driven by new limit extension taking after the slower-than-anticipated increase. Our venture case depends on: (i) investigation that the new limit extension is slower-thanexpected, which ought to help keep up the supply-request harmony, (ii) income development supported by new limit extensions coordinated and powered by repressed interest for elastic gloves, particularly nitrile gloves, (iii) higher ASPs desire, and (iv) maintained shortcoming of Ringgit (RM) versus US dollar (USD). Our TOP PICK is TOPGLOV with an OUTPERFORM rating. Target Price is RM5.92 in light of 20x FY17E EPS. The PER valuation of Top Glove (17.1x FY17E PER) has lingered behind Hartalega (27.4x CY17E PER). The valuation hole ought to limited when we consider that Top Glove has more elevated amount of aggregate limit and net benefit contrasted with Hartalega.
Coordinations players kept on piqueing financial specialists’ advantage yesterday, days after the Digital Free Trade Zone (DFTZ) was propelled and the KLIA Aeropolis declared as Alibaba’s planned local dispersion center point.
Share costs of calculated firms are exchanging at multi-year high, if not record high.
GD Express Carrier Bhd (GDex) is standing out. The organization’s shares are as of now exchanging at value profit proportion of over 70 times — presumably the most astounding among the strategic counters.
Tasco Bhd — another outperformer — took off to an unsurpassed high of RM2.28 yesterday, up 11 sen or 5.07%. The stock has increased 52% since the begin of the year.
he additional RM3.08 billion that the administration is looking for from the Supplementary Supply (2016) Bill 2017 is not going to influence Malaysia’s financial shortfall of 3.1% that year, said the Ministry of Finance.
In wrapping up his discourse on the supplementary spending today, Second Finance Minister Datuk Johari Abdul Ghani said the additional monies are identified with government’s 2016 working consumption (OE).
Johari said the real OE spent a year ago was RM2.25 billion not exactly the planned RM215.2 billion.
“So we exchanged RM2.25 billion to DE (improvement use), however in government’s bookkeeping strategy, we can’t simply exchange that way, we have to make divulgence like the supplementary bill today, so that is not really a spending,” he said.
Daily Market Update
Dow Jones: 20,550.98 pts (-45.74pts, -0.22%)
U.S. stockmarkets edged lower as the Dow (-0.2%) recorded its eight consecutive losing streak after trimming most of its intraday losses. The 20,000 will serve as the immediate support level.
FBM KLCI: 1,744.95 pts (-0.80pts, -0.05%)
The FBM KLCI (-0.1%) succumbs to last minute selling pressure as the key index recorded its fourth straight losing streak. The immediate support level is located around the 1,730 level.
Crude Palm Oil: RM2,695 (-RM59, -2.14%)
Crude palm oil prices sank below the RM2,700 psychological level, taking cue from the weakness in soybean oil prices. The RM2,600 level will serve as the immediate support level.
WTI Crude Oil: $47.73 (-$0.24, -0.50%)
Crude oil prices closed lower after the rising U.S. oil rigs dampened market sentiment. Crude oil prices might trend between the US$45-US$50 levels.
Gold: $1,254.86 (+$11.29, +0.91%)
Gold prices rebounded on increase demand in safe haven assets. The US$1,200 will serve as the immediate support level.
Bursa Malaysia Trade Statistics – 27 Mar 17
Institutions: Net SELL 65.9 mln (60.0%)
Retail: Net SELL 10.8 mln (23.3%)
Foreign: Net BUY 76.7 mln (16.7%)
Potential Momentum Stocks – 28 Mar 17
Stock Name: TNLOGIS (8397)
Entry: Buy above RM1.74
Target: RM1.90 (9.2%), RM2.00 (14.9%)
Stop: RM1.67 (-4.0%)
Technical: Monitor for breakout
Stock Name: OCK (0172)
Entry: Buy above RM0.88
Target: RM0.95 (8.0%), RM1.00 (13.6%)
Stop: RM0.85 (-3.4%)
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