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KUALA LUMPUR: Maybank Investment Bank Research sees the potential crystallisation of a few long anticipated major construction projects in Sarawak could generate massive construction works.

It said on Tuesday these include the RM15bil Pan Borneo Sarawak Highway that finally kicked off officially recently.

The RM9bil Baleh hydroelectric power project could also take-off soon, for new energy supply is vital to attract new investments into Sarawak.

As for the long delayed Kuching Centralised Wastewater Management System Package 2 with an estimated cost of RM700mil to RM800mil should also be awarded soon, since works on the first package have completed. 

“Thus, there would be a strong pipeline of jobs in Sarawak. Based on the major projects’ construction timeline, we expect awards to start accelerating in 2H15 and into 2016 especially ahead of the Sarawak state election which must be held by mid-2016,” it said. 

Maybank Research said that positive sentiment would gain momentum as the state election looms and it could be held earlier in September or October 2015.

“Historically, share prices of Sarawak construction stocks have mainly displayed positive trends before the previous

KUALA LUMPUR: BIMB Securities Research expects the local market to remain positive on Tuesday following improved investor sentiment and attractive valuations.

It said the immediate resistance for the FBM KLCI to be at 1,725 to 1,730 after it closed marginally higher on Monday.

On Monday, trading participation saw net selling by foreign institutions and local retail while local institutions were net buyers.

Foreign funds were net sellers at –RM85.4mil and retail investors also net sellers at

KUALA LUMPUR: The ringgit extended yesterday’s gains against the US dollar on continued buying interest, dealers said.

In early trading, the ringgit was quoted at 3.7840/7870 to the greenback versus yesterday’s 3.7945/7975. At 9.15 am, the ringgit was firmer against other major currencies, except the euro.

“The downside is very limited for the ringgit against the greenback.

“Bank Negara Malaysia has strongly signalled that the local note was not trading according to its fundamentals and has

BANGKOK: Southeast Asian stock markets were mixed on Thursday, with the Malaysian benchmark ending three days of losses ahead of the central bank's decision to hold rates steady, while Indonesian large caps retreated amid selling led by foreign investors.

Malaysia's central bank held its overnight policy rate at 3.25 percent on Thursday, as expected, keeping policy steady while the Southeast Asian nation and its markets were rocked by corruption allegations against Prime Minister Najib

The following table shows rates for Asian currencies against the dollar at 0138 GMT(0938 Malaysian time) on Friday July 10.

  CURRENCIES VS U.S. DOLLAR

  Change on the day at 0138 GMT

  Currency    Latest bid   Previous day    Pct Move

  Japan yen       121.83         121.32       -0.42

  Sing dlr        1.3474         1.3498       +0.18

 *Taiwan dlr      31.230         31.230       +0.00

  Korean won     1128.70        1133.90       +0.46

  Baht             33.91          33.96

KUALA LUMPUR: Greece’s new reform proposals to creditors could provide a much needed boost to Bursa Malaysia on Friday.

Reuters reported the reforms raised hopes of a cash-for-reform deal at a weekend summit of European leaders. This saw US stock futures jump and the euro gain in early Asian trade.

Overnight on Wall Street, the key indices ended off highs as investors remained cautious on China and Greece. 

The DJIA and S&P500 gained 0.19% and 0.23% respectively to end at 17,548.62 and

KUALA LUMPUR: A weaker ringgit will attract more foreign investment into the country's property sector, Guocoland (Malaysia) Bhd managing director Tan Lee Koon said on Thursday.

The property arm of Hong Leong Group expects the current exchange rate scenario to spur demand for luxury residences in its Damansara City development, which has a gross development of RM2.5 billion.

On Monday, the ringgit breached the 3.80 level against the US dollar, the level at which it was pegged against the

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