Malaysia News Highlights- 21st Sept 2015

• Malaysian share prices opened lower today on weaker buying sentiment across-the-board on lack of fresh catalysts in the local market.
  The FTSE Bursa Malaysia Kuala Lumpur Composite was 13.65 points lower at 1,655.8 after opening 7.91 points easier at 1,661.54.
   
• The ringgit opened lower against the US dollar in early trading today on lack of demand.
   
• Economists agree that the US Federal Reserve's move last week to keep interest rates unchanged will provide short-term relief to Malaysian financial markets, but they don't think it will help spark a strong rebound in the ringgit

• Hong Leong Investment Bank (HLIB) Research has downgraded the automotive sector to "underweight" and reduced its total industry volume (TIV) assumptions for 2015, on the back of lower vehicle sales in August.
   
• Cruise and resort company Genting Hong Kong Ltd will invest some 17.5 million euros (RM84.4 million) to acquire a 70% stake in Lloyd Werft Shipyard in Bremerhaven, Germany, and a 50% ownership of the shipyard land.
   
• Taliworks Corp Bhd has confirmed that it is eyeing Silk Holdings Bhd's wholly-owned subsidiary Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd (SILK), but stressed it is still in the exploratory stage.
   
• WCT has clinched a construction contract for infrastructure jobs at Kwasa Damansara in Sungai Buloh valued at RM127.39mil.
   
•  Hwang Capital (Malaysia) Bhd reported a 5.51% drop in net profit to RM8.89 million for the fourth quarter ended July 31, 2015 compared with RM9.41 million in the previous corresponding period, partly due to higher operating costs.