Malaysia News Highlights : 11th Sept 2015

• Malaysian share prices defended its 1,600-point despite being weighed by losses including at index-linked banking stocks.
  The FTSE Bursa Malaysia Kuala Lumpur Composite was down 6.38 points to 1,607.64.
   
• MIDF Research expects the ringgit to strengthen to between 4.00 and 4.20 against the US dollar within the next few months and in turn positively impact the local stock market.
   
• Foreign funds and retail investors were net sellers on Bursa Malaysia on Thursday, according to BIMB Securities Research.
   
• IOI Corporation Bhd is buying the entire oleochemicals business of Germany's Cremer Oleo GmbH & Co KG for 89.4 million euros, or about RM433 million.
   
• KNM Group Bhd's indirect 70%-owned joint venture company CNI Engineering & Construction Malaysia Sdn Bhd has been awarded a US$42 million (RM183 million) erection work contract by Toyo Thai Malaysia Sdn Bhd.
   
• SP Setia Bhd’s net profit for the third quarter ended July 31, 2015 rose 2.5 times to RM261.79 million from RM103.32 million a year ago on the back of a strong sales pipeline and timely handover of its maiden Australian property project, Fulton Lane.
   
• AirAsia Bhd has clinched the best low-cost airline title at the Business Traveller Asia-Pacific Travel Awards 2015, becoming the only airline that has won the title since the inception of the category in 2012.
   
• Berjaya Auto Bhd (BAuto) saw a marginal increase in revenue for the first quarter ended July 31, 2015 to RM512.55 million from RM507.95 million in the previous year’s corresponding quarter from the sales of Mazda vehicles in both the Malaysian and Philippine markets.
   
• Tune Ins Holdings Bhd has changed the company’s name to Tune Protect Group Bhd, as part of its rebranding initiative to better align with its future strategy and product roadmap.
   
• UEM Sunrise Bhd (UEMS) were the most actively traded at mid-morning today and jumped 7.61% on renewed buying interest.