Financial Roundup: Sep 9, 2016

2018-05-01T11:28:27+00:00By |Banks, Investing, Properties, REIT, Roundup, Scam, Shares|0 Comments

This week’s financial roundup on property developers turned ah longs, stock market manipulation, oil prices, new Tiong Nam REIT, Maybank branch closures & more.

 

mypf-v7-financial-roundup

 

Developers Can Now Apply to Offer Home Loans

Home loans

With the property market still in slowdown especially for properties above RM500k, developers can now offer home loans & package attractive deals for buyers
Source: thestar.com.my

 

Maybank Kim Eng Trader Fined & Suspended for Layering

Click to enlarge

Click to enlarge

Layering & creating false markets appears to be quite common yet this ex Maybank Kim Eng trader was penalized by Singapore Exchange’s (SGX) disciplinary committee for “stock manipulation”

Source: smr.theedgemarkets.com

 

Oil Market Stability in the Near Future, Hopefully?

putin-saudi-king

Saudi Arabia & Russia talk on oil market stability via production output ceiling but stop short of concrete plan. Oil prices went up & then dipped again. It will have significant positive impact on Malaysia (including the Ringgit) if oil prices stabilize.

Source: bloomberg.com

 

Under Armour CEO Sells Stock

under-armour-my

In ths US markets, Under Armour (NYSE.UA) CEO Kevin Plank planning to sell part of his holdings valued at US$72m causing stock price to drop further.

Source: bloomberg.com

 

Tiong Nam Warehouse REIT Listing

tiong-nam

Tiong Nam warehouse REIT listing announcement expected to be in mid-October 2016. Markets first heard significant progress on this earlier this year.

Source: tiongnam.com

 

Maybank Closing Branches

maybank-branch

Maybank next after CIMB to close branches as cost cutting measure in Y2016-2017. Believed to be 27 branches (7% of total branches). Maybank statement that it’s normal to relocate & close branches.

Affected branches (neither confirmed/denied by Maybank)

  • Ayer Keroh
  • Bachok
  • Bandar Baru Bangi
  • Bandar Kinrara
  • Batu Kawan
  • Batu Pahat
  • Bayan Baru
  • Bukit Mertajam
  • Desa Pandan
  • Kajang Prima
  • KL Sentral
  • Kota Damansara
  • Langkap
  • Padang Besar
  • Rantau Panjang
  • Salim Commercial Center
  • Segambut
  • Senai
  • Skypark
  • Sunway City
  • Sunway Pyramid (2)
  • Taman Intan
  • Taman Kinrara
  • Tudan
  • Tumpat

Source: therakyatpost.com

 

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