The IOI brothers have made it into the top five of Forbes 50 Richest list for the first time, but the weak ringgit has caused a decline in the wealth of Malaysian billionaires. Bursa Malaysia opened lower due to negative developments on Wall Street and escalating tension in the Middle East.
Forbes 50 Richest: IOI brothers go into top five for first time but weak ringgit drags down Malaysian billionaires' wealth
At 9.15am, the FTSE Bursa Malaysia KLCI declined 2.70 points to 1,539.83 from yesterday's close of 1,542.53.On the broader market, decliners led gainers 521 to 92, while 266 counters were unchanged, 1,473 untraded and 11 others suspended.Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said that as the result of the latest retail sales print, the US 10-year Treasury yield ended at almost a six-month high of 4.61 per cent.
“Selling on the local bourse was broad-based as none of the sectors was spared. In the event of prevailing support at the 1,540 mark is smashed decisively, the next support is seen at around the 1,520 level,” he told Bernama.Among the heavyweights, Maybank inched down one sen to RM9.64, Tenaga Nasional fell four sen to RM11.56, and Petronas Chemicals slipped five sen to RM6.75.As for the actives, Ingenieur Gudang added 1.5 sen to 15.
Forbes IOI Brothers Top Five Malaysian Billionaires Weak Ringgit Bursa Malaysia Wall Street Middle East Wealth
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Forbes 50 Richest: Weak ringgit drags down Malaysian billionaires' wealth as IOI brothers go into top five for first timeKUALA LUMPUR, April 16 — The collective wealth of the 50 richest men in Malaysia rose by a mere 2 per cent to US$83.4 billion (RM398 billion) this year as a weak ringgit offset...
Read more »
Forbes 50 Richest: IOI brothers go into top five for first time but weak ringgit drags down Malaysian billionaires' wealthKUALA LUMPUR, April 16 — The collective wealth of the 50 richest men in Malaysia rose by a mere 2 per cent to US$83.4 billion (RM398 billion) this year as a weak ringgit offset...
Read more »
Nextgreen Global and IOI Corporation to Develop Malaysia's First Large-scale Paper Pulp PlantNextgreen Global Berhad (NGGB) and its wholly-owned indirect subsidiary, IOI Paper Pulp Sdn. Bhd., are partnering to develop Malaysia's first large-scale paper pulp plant in NGGB's Green Technology Park (GTP) in Pekan, Pahang. The plant, operated by Nextgreen IOI Pulp Sdn. Bhd. (NIP), will have an initial capacity of 100,000 metric tons of chemical dissolving pulp per year, made from oil palm empty fruit bunches (EFB) using NGGB's patented Preconditioning Refiner.
Read more »
Marriott Bonvoy: Moxy Hotel Putrajaya Dibuka Berdekatan Dengan IOI City MallMoxy Putrajaya terletak tidak jauh dengan Lapangan Terbang Antarabangsa Kuala Lumpur (KLIA) dan lebuh raya utama yang menghubungkan Lembah Klang dan kawasan sekitar.
Read more »
Tesla V4 Supercharger spotted at IOI Mall PuchongSeveral Tesla V4 Superchargers have been spotted at IOI Mall Puchong. This is the first known V4 Supercharger deployment in Malaysia.
Read more »
Nextgreen IOI Pulp inks MoU with Xiamen C&D for pulp production facilityKUALA LUMPUR: Pulp and paper manufacturer Nextgreen Global Bhd’s subsidiary, Nextgreen IOI Pulp Sdn Bhd (NIP), has inked a memorandum of understanding...
Read more »