Malaysia Update's : 17th Sept 2015

• Malaysian share prices opened higher in early trade today, jumping more than 37 points higher boosted by gains in Tenaga and select blue chips, in tandem with the stronger Asian equities.
  The FTSE Bursa Malaysia Kuala Lumpur Composite is at 37.49 points to 1,683.47.There were 377 gainers, 100 decliners and 174 counters unchanged.
   
• The ringgit extended its gain on Tuesday to open higher against the US dollar today on continuous buying momentum.
   
• Oil prices jumped on Wednesday, after the largest US crude drawdown in seven months at the key US delivery point eased worries about over supply, helping to boost battered energy stocks.
   
  
  
  
  
  
• AmResearch has initiated coverage on Inari Amertron Berhad with a Buy and a fair value of RM3.83 a share, based on a PE of 15 times FY16F earnings, due to surging growth and demand for its radio frequency (RF) chips.
   
• Government bonds or sovereign yields trended upwards across the entire maturity spectrum in August, amid a weak ringgit and subdued oil prices, which steepened Malaysian Government Securities (MGS) yield curves from a year ago.
   
• Inter-Pacific Research Sdn Bhd has assigned a “neutral” rating on Johor Corp’s new Islamic real estate investment trust (REIT) Al-Salam, with a target price of RM1.14, based on a discount rate of 7.6% and a dividend growth of 2%.