Business

KUALA LUMPUR, Sunway Property, the property arm of Sunway Bhd, has recorded RM1.1 billion in bookings across its 14 properties nationwide under its Signature Series 2024 campaign. In a statement today, the company announced that this marked the third consecutive year of growth, surpassing RM1 billion in bookings last year and RM800 million in 2022. The campaign featured special deals and the launch of two new Signature Homes. Sunway Velocity 3 in Klang Valley achieved 60 per cent of its unit sales during its opening weekend in May, while Sunway Aviana in Johor achieved a remarkable 100 per cent take-up

KUALA LUMPUR, Bursa Malaysia closed on a weaker note today in tandem with the downbeat regional market performance as investors took profits amid the global sell-off, said Rakuten Trade Sdn Bhd. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) shaved off 8.54 points, or 0.52 per cent, to 1,621.14 from Tuesday’s close of 1,629.68. The key index opened 1.63 points higher at 1,631.31, to mark its intraday high and hit a low of 1,619.71 before the midday session. On the broader market, losers surpassed gainers 773 to 341, with 487 counters unchanged, 870 untraded, and six others suspended.

KUALA LUMPUR, The retail prices for RON97 and RON95 petrol as well as diesel will remain unchanged at RM3.47, RM2.05 and RM3.35 per litre, respectively, from July 25 until 31. In a statement today, The Ministry of Finance said the diesel retail price in Sabah, Sarawak and Labuan would also remain unchanged at RM2.15 per litre. It said the prices were fixed based on the price of petroleum products using the Automatic Pricing Mechanism formula. ‘The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of

KUALA LUMPUR, The lower-than-expected inflation rate of two per cent in Malaysia for June 2024 suggests that the impact of diesel subsidy rationalisation appears minimal, said an economist. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the diesel subsidy rationalisation implemented on June 10 accounted for just 0.2 per cent of the total Consumer Price Index (CPI) weight. ‘However, the risk of higher inflation going forward will depend on business pricing behaviour, as companies might raise prices to maintain profit margins,” he told Bernama. The recent subsidy adjustment resulted in a significant increase in diesel prices

KUALA LUMPUR, Japan’s leading maritime newspaper, The Japan Maritime Daily is set to host the global seminar, The Future of Shipping with Alternative Fuels, on the theme of ‘New Era Fuels for Ships’ on Sept 16, in Singapore. According to a statement, the seminar, co-organised with the Singapore Exchange (SGX) will feature the future of new fuels through the initiatives of major shipping companies and panel discussions, with applications open to the public without any charges. The keynote speaker will be CORE POWER Chairman and Chief Executive Officer, Mikal Bøe, who will explain the nuclear energy for net-zero emission shipping.