Markets
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New leaders propel Indonesia, 20 years after `wrong advice'

For Fuad Bawazier, the financial crisis that moved like a wrecking ball through the Indonesian economy two decades ago remains a source of deep regret.As finance minister in the dying days of Suharto’s dictatorship, Bawazier said he tried to warn the president against accepting a bailout of more than $40 billion put together by the International Monetary Fund because of the strict austerity conditions linked to it.

6 July 2017
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Semiconductor industry to record positive sales growth in the immediate term

The global semiconductor industry, which has registered higher sales of US$31.9 billion in May, is expected to continue to record positive sales growth on a year-on-year basis in the immediate term, says Malaysian Industrial Development Finance (MIDF) Research.“Going forward, we expect the sales growth momentum emanating from China to remain robust in the foreseeable term.

6 July 2017
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Audit firms urged to strengthen capacity building and improve quality controls

Audit firms are urged to strengthen their capacity building and improve their quality controls to demonstrate the importance of value of audits and its relevance to ensuring good governance of companies, says Securities Commission Malaysia (SC).SC’s audit oversight board (AOB) in its 2016 annual report highlighted that promoting reliability of audited financial statements, high quality audit practices and addressing inspection findings of audit firms in Malaysia remain a key focus for the reg

5 July 2017
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Second half to be positive but valuation is expensive

The second half of 2017 will continue to be positive but valuations are getting rather expensive, said Pacific Mutual Fund Bhd.“In the first half of 2017, market bullishness was driven by ‘Trumpflation” and the continuation of a global economic recovery.

5 July 2017
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Chinese court freezes LeEco assets over late debt payments

LeEco is trying to resolve a dispute with one of China’s largest banks over unpaid interest on debt, a spat that’s prompted a Shanghai court to freeze 1.24 billion yuan ($182 million) of assets held by the tech conglomerate and its billionaire founder Jia Yueting.The ailing firm’s disagreement with China Merchants Bank Co. arose over loans to a smartphone subsidiary called Leview Mobile, both companies said separately Tuesday.

5 July 2017
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