DANAVEST

By Christopher Johnson
LONDON: Oil fell below US$43 (RM156.09) a barrel on Dec 9, reversing earlier gains as investors expected US data to show another drop in fuel demand in the world’s top consumer.
US crude was down 54 cents at US$43.17 a barrel at 1418 GMT, after sinking earlier to US$42.89.
London Brent crude eased by 59 [...]

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SHARES of Malaysian power to gaming firm Genting tumbled 36 sen, or 8.1 per cent, to RM4.08, its biggest decline since February 28, 2007, the worst performer on the Kuala Lumpur Composite Index.
The company reported a third quarter loss of RM40.38 million and warned that its UK gaming operations would be hit.
The company said that [...]

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The Star
KUALA LUMPUR: DAP wants to know if the recent RM5bil injection into ValueCap Sdn Bhd is in fact a “rescue package” to repay its RM5.1bil debt due in February next year.
DAP National Publicity secretary Tony Pua (DAP- PJ Utara) said that The Malaysian Insider (www.themalaysianinsider.com) had reported that ValueCap had a RM5.1bil debt to [...]

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The Edge Daily
SYDNEY: Bank Negara Malaysia (BNM) is estimated to have spent US$12 billion (RM42.4 billion) during September to defend the ringgit, said Moody’s Economy.com.
Moody’s said the ringgit was among Asia-Pacific currencies that had depreciated despite current account surpluses, the others being the Singapore dollar and Philippine peso.
“Sound current accounts may have created a bottom [...]

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By Shannon Teoh, The Malaysian Insider
KUALA LUMPUR, Nov 4 - Finance Minister Datuk Seri Najib Razak defended the RM5 billion injection into ValueCap via a loan from the Employees Provident Fund (EPF) despite an outstanding RM5.1 billion debt, saying that the company has performed well so far.
“The shareholders are happy and have gotten returns. They [...]

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by Yantoultra Ngui Yichen, The Edge Daily
PETALING JAYA: Bursa Malaysia Securities Bhd has decided to delist Techventure Bhd on Nov 14, 2008 as the company does not have an adequate level of financial condition to warrant continued listing on the Second Board.
Bursa Securities said Techventure could make an appeal by Nov 11.
“In the event Techventure [...]

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TheStar.com
With Pakistan now joining Iceland, Hungary and Ukraine in the line forming outside the International Monetary Fund’s New York headquarters, fears are rising as to just how prepared the IMF is should more countries fall into financial catastrophe.
Though the fund is set up to float loans to central banks in times of financial crisis, some [...]

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Karl Ritter, THE ASSOCIATED PRESS
STOCKHOLM–Sweden’s Parliament on Wednesday approved a rescue package for the nation’s financial sector worth 1.5 trillion kronor (US$200 billion).
The measure allows the government to give the money in credit guarantees to banks and mortgage lenders to improve liquidity amid the global financial turmoil. It also creates a “stability fund” to bail [...]

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via BusinessTimes
Malaysian investors should take a long-term view of between three and five years and take advantage of the current cheap valuations, says CIMB-Principal CEO
THE global financial crisis may have wiped out trillion dollars worth of assets, but this should not deter local investors from investing in the stock market, said CIMB-Principal Asset Management Bhd [...]

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Warren Buffett warned several years ago about a financial crisis like the one currently engulfing Wall Street. But now that it’s here, the investing wizard has decided he might as well profit from it.
The legendary investor’s Berkshire Hathaway (BRKA) is making a $3 billion investment in General Electric (GE). The deal was announced Oct. 1, [...]

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