Jum, Nov

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has clarified that none of the company’s bank accounts have been frozen.

In a late statement issued on Wednesday, 1MDB sought to clarify recent media reports that certain bank accounts were frozen in Switzerland over a probe launched by the Swiss authorities.

Below is the statement:

We refer to recent media reports concerning certain bank accounts being frozen in Switzerland, in relation to a probe being conducted by the Swiss authorities. As far as 1MDB is aware, none of the company's bank accounts have been frozen. 

1MDB is in the process of developing a better understanding of the on-going investigations in Switzerland so the company can cooperate to its fullest extent.

-The Star Online

ZURICH: Swiss authorities said they had frozen funds in Swiss banks amid a probe into people linked to Malaysia's troubled state investment fund, 1Malaysia Development Bhd (1MDB), on suspicion of corruption and money laundering, Reuters reported.

"The Office of the Attorney General of Switzerland (OAG) has frozen assets amounting to several tens of millions of US dollars on Swiss bank accounts," an OAG spokeswoman said by email in response to an enquiry.

"At this early stage of the procedure

PUTRAJAYA: Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar has been named chairman of the Economic Special Committee.

Other members in the 10-men committee are former Minister in the Prime Minister's Department in charge of Economic Planning Unit Tan Sri Nor Mohamed Yakcop, Khazanah head Tan Sri Azman Mokhtar, economist Tan Sri Andrew Sheng, Tan Sri Azman Yahya, CIMB Group chairman Datuk Seri Nazir Tun Razak, Datuk Seri Dr K. Govindan, Prof Datuk Dr Noor Azlan Ghazali

SINGAPORE: The ringgit hit afresh pre-peg 17-year low on Monday as sustained worries about China's economy dented global risk appetite with European and Wall Street stocks suffering their largest one-day drop in nearly four years.

The ringgit lost 0.9% to 4.2200 per dollar,its weakest since Aug 31, 1998.

The ringgit was pegged at at 3.8000 to the dollar in September 1998 and maintained there until 2005.

Malaysia's international reserves fell to US$94.5 billion as of Aug 14 from US$96.7

KUALA LUMPUR: The FBM KLCI surged 42 points in early trade on Tuesday toa  high of 1,655, kicking off the new month of September on a very strong note despite the weaker overnight close on Wall Street.

At 9.19am, the KLCI was up 19.85 points to 1,632.50. Turnover was 268.80 million shares valued at RM230.17mil. There were 289 gainers, 121 losers and 116 counters unchanged.

However, key Asian markets were cautious after activity in China's vast manufacturing sector contracted at its fastest

KUALA LUMPUR - Share prices on Bursa Malaysia opened sharply lower in early trade this morning and in tracking its regional peers, as concerns over China's slowing growth continued to dominate investors sentiment, dealers said.

At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,546.97, down 27.70 points, after opening 21.42 points lower at 1,553.25.

Losers outpaced gainers 447 to 42, while 90 counters remained unchanged, 1,222 untraded and 10 others suspended.


KUALA LUMPUR: Key Asian markets were hammered early Friday while at Bursa Malaysia, the FBM KLCI fell more than 17 points after the overnight tumble on Wall Street.

At 9.23am, the KLCI was down 17.35 points or 1.10% to RM1,560.06. Turnover was 268.13 million shares valued at RM151.27mil. There were 403 losers  to 74 gainers while 131 counters were unchanged.

Reuters reported Asian stocks followed Wall Street lower, as fears took hold of a China-led deceleration in global growth.

The report

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