Latest news with #KenangaInvestmentBank
Mint
7 hours ago
- Business
- Mint
Malaysia PM announces cash aid, fuel price cut to address rising living costs
By Danial Azhar and Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia's Prime Minister Anwar Ibrahim announced new measures on Wednesday to address growing public disquiet about the rising cost of living, including a cash handout for all adult citizens and a promise to lower fuel prices. His statement in a televised broadcast came ahead of a planned protest to be held in Malaysia's capital Kuala Lumpur on Saturday, aimed at forcing Anwar to step down over escalating prices and a failure to deliver on promised reforms. Anwar's administration has carried out a number of measures to boost revenue and productivity this year, including a minimum wage hike, increased electricity tariffs on heavy power users and an expanded sales and services tax. Anwar has said the moves were mainly targeted at large businesses and the wealthy, but critics have voiced fears that higher costs would eventually be passed down to consumers, including lower and middle-income earners. On Wednesday, Anwar said all Malaysians above 18 will receive 100 ringgit ($23.67) in a one-off cash handout to be disbursed from August 31. The government will spend a total 15 billion ringgit ($3.55 billion) in cash aid in 2025, up from 13 billion ringgit originally allocated for the year, he said. Police have said they expect between 10,000 and 15,000 people to attend Saturday's protest, which has been organised by opposition parties. "I acknowledge the complaints and accept that the cost of living remains a challenge that must be addressed, even though we have announced various measures thus far," Anwar said, adding that more initiatives to aid those in poverty will be launched on Thursday. Anwar said the government will also announce details of a long-awaited plan to adjust blanket subsidies on the widely used RON95 transport fuel before the end of September. Once the subsidy changes are implemented, Malaysians will see fuel prices at the pump drop to 1.99 ringgit per litre, compared to the current price of 2.05 ringgit, Anwar said. Foreign nationals however will have to pay unsubsidised market prices for the fuel, he said. Anwar did not provide details on how the measure will be enforced. Analysts say changes to the fuel subsidy rationalisation scheme - originally set for mid-2025 and aimed at also removing subsidies for the wealthy - could affect Malaysia's fiscal consolidation plans. Kenanga Investment Bank economist Muhammad Saifuddin Sapuan said the cash handout and subsidy measures were necessary to boost domestic demand, amid external headwinds arising from ongoing global uncertainty. "Nevertheless, this comes at a cost, especially on how the government will finance it, and likely put pressure on its fiscal target," he said. Kathleen Chen, of Fitch Ratings' Sovereigns team, said further delays or insufficient progress on subsidy rationalisation could jeopardise the government's goal to reduce its deficit to 3% by 2028. Fitch expects Malaysia's general government debt to remain high, at around 76.5% of GDP in 2025, with only a gradual decline in the medium term, she said.
Malay Mail
07-07-2025
- Business
- Malay Mail
Kenanga Investment Bank's NagaWarrants Unlocks New Trading Frontiers with HSCEI and HSTECH Warrants
From left to right: Kenneth Teoh, Deputy Head, Equity Derivatives, Kenanga Investment Bank Berhad ("KIBB"); Luk Wai Hong, William, Non-Independent Non-Executive Director, KIBB; Angeline-Ong Su Ming, Independent Non-Executive Director, KIBB; Philip Lim, Head, Equity Markets & Group Head, Equity Derivatives, KIBB; Datuk Chay Wai Leong, Group Managing Director, KIBB; Datuk Lee Kok Khee, Executive Director, Head of Group Equity Business, KIBB; Jeremy Nasrulhaq, Senior Independent Non-Executive Director, KIBB; Anita Mo, Chief Executive Officer, Hang Seng Indexes Company; Isabelle Zhen, Head, Group Equity Marketing, KIBB Bursa Excellence Awards: Best Structured Warrants Issuer (2021 and 2024) (Equity and Index) Best Structured Warrants Issuer (2021 and 2024) (Equity and Index) Global Banking & Finance Awards (UK): Best Warrants Issuer & Best Market Maker (2024 and 2025) Best Warrants Issuer & Best Market Maker (2024 and 2025) FinanceAsia (HK): Most Innovative Use of Technology (2024 and 2025) KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 7 July 2025 - Kenanga Investment Bank Berhad ("" or ""), Malaysia's no. 1 issuer of structured warrants, proudly announces the launch of its first-ever Hang Seng China Enterprises Index ("") structured warrants – HSCEI-CAA and HSCEI-HBA – and Hang Seng TECH Index ("") structured warrants – HSTECH-C30 and HSTECH-H27 – under its flagship brand, NagaWarrants by Kenanga ("").This launch marks a strategic expansion of the Group's East Asia footprint, following the successful introduction of Hang Seng Index ("HSI") structured warrants – HSI-CIW and HSI-HMO – in 2021. With HSCEI and HSTECH now listed on Bursa Malaysia, Malaysian investors will gain diversified access to two of Hong Kong's most influential indices, offering new opportunities to tap into China's financial and technology HSCEI tracks heavyweight mainland enterprises listed in Hong Kong, including financial and infrastructure giants such as ICBC, China Construction Bank, PetroChina, and Ping An Insurance. It serves as a key benchmark for tracking the performance of China's largest state-owned HSTECH, on the other hand, captures the growth of China's leading tech innovators such as Tencent, Meituan, Xiaomi, and With its focus on fast-evolving technology and innovation, HSTECH is ideal for traders with higher risk appetites looking for volatility and growth Group's presence in the structured warrants market is underscored by its 64% market share in HSI warrants. In 2024, the structured warrants segment on Bursa Malaysia recorded a turnover of RM30.3 billion, contributing approximately 4% to the exchange's total market turnover of RM848.7 launch of HSCEI and HSTECH structured warrants is expected to broaden market participation, diversify product offerings, and boost overall liquidity – particularly among retail traders already familiar with Hang Seng Index warrants."The launch of HSCEI and HSTECH structured warrants marks a pivotal step in our mission to democratise access to global markets. As Malaysia's leading issuer, Kenanga Group remains committed to driving innovation, expanding investor opportunities, and shaping the future of structured warrants. This initiative reflects our long-term vision to empower a new generation of traders while reinforcing our leadership in the region's capital markets," said Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad."In 2024, NagaWarrants achieved a record-breaking market share of 52%, with a total turnover of RM15.7 billion. This milestone also marks our 300Hang Seng-listed structured warrant on Bursa Malaysia – a testament to our relentless drive to innovate and serve the evolving needs of Malaysian traders," added Datuk Lee Kok Khee, Executive Director, Head of Group Equity Business of Kenanga Investment Bank product innovation, NagaWarrants continues to empower investors through a blend of educational outreach and advanced analytics. In 2024, it hosted over 50 webinars and events, earning thein 2022, 2023 and 2025. At the same time, its adoption of machine learning models – which analyse interest rate movements, market trends, and regional dynamics to anticipate demand fluctuations – has enhanced precision in warrant recognition of its leadership and innovation, Kenanga Group has received several prestigious accolades, including:Looking ahead, Kenanga Group remains committed to supporting investors through innovation, education and access to global markets. To explore trading opportunities and stay informed, visit or join our Telegram community (@NagaWarrants).Hashtag: #KenangaInvestmentBank The issuer is solely responsible for the content of this announcement. Kenanga Investment Bank Berhad (197301002193 (15678-H)) Established for over 50 years, Kenanga Investment Bank Berhad ("The Group") is a leading financial group in Malaysia, offering a wide range of services, including equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending, and trade financing. The Group's digital innovations include the launch of KDi GO, a wealth-centric app, along with game- changing products such as Rakuten Trade, Malaysia's first fully digital stockbroking platform, and Kenanga Digital Investing, an A.I. robo-advisor. Kenanga has garnered multiple awards, including top honours at the Bursa Excellence Awards 2024 and The Edge Malaysia Centurion Club 2023. The Group also secured the Top 20 Overall Excellence and the Niche Cap Excellence Award at the National Corporate Governance and Sustainability Awards 2024. As one of the highest- scoring constituents of the FTSE4Good Bursa Malaysia Index and a Participant of the United Nations Global Compact, Kenanga continues to drive collaboration, innovation, and sustainability in the financial industry. For more information, please visit
Malay Mail
26-06-2025
- Business
- Malay Mail
Kenanga sees Malaysian bond yields inching up amid global trade jitters
KUALA LUMPUR, June 26 — Malaysia's bond yields may rise modestly in the near term amid renewed global trade tensions, said Kenanga Investment Bank Bhd (Kenanga Research). The investment bank said markets are growing wary of escalating United States-European Union (US-EU) tariff frictions, Donald Trump's forthcoming fiscal bill, and the potential reimposition of tariffs in the weeks ahead. 'Investors will closely monitor upcoming US economic data for signs of weakness that could justify rate cuts by the US Federal Reserve (Fed),' it said in a research note today. According to Kenanga Research, yields on Malaysian Government Securities (MGS) and Government Investment Issues (GII) fell by 0.1 to 7.9 basis points (bps) across the curve over the week. The 10-year MGS eased by 4.6 bps to 3.54 per cent, while the 10-year GII slipped by 3.6 bps to 3.54 per cent. 'Initial risk-off sentiment, spurred by US involvement in the Iran-Israel conflict, dissipated following the announcement of a ceasefire. 'Market sentiment was further buoyed by the signing of a free trade agreement with the European Free Trade Association (EFTA) members—Switzerland, Norway, Iceland, and Liechtenstein—alongside deepening economic ties with Kyrgyzstan and Uzbekistan,' it said. Additionally, constructive developments in Malaysia-US tariff negotiations and reports of Intel's planned semiconductor expansion added to the positive tone, strengthening Malaysia's appeal as an investment destination. — Bernama
BusinessToday
26-05-2025
- Business
- BusinessToday
Kenanga Revises Ringgit Forecast To 4.08 Amid Accelerating Global De-Dollarisation
Kenanga Investment Bank has revised its year-end 2025 forecast for the Malaysian ringgit to 4.08 against the US dollar, citing accelerating structural shifts in the global monetary landscape and rising momentum in de-dollarisation efforts worldwide. In its latest Economic Viewpoint report, the investment house highlighted that the dominance of the US dollar as the world's primary reserve currency is steadily eroding, as central banks increasingly diversify into alternative assets such as gold and even cryptocurrencies like Bitcoin (BTC). This shift, once considered a long-term trend, is now materialising more rapidly due to geopolitical risks, unsustainable US fiscal deficits, and growing global reliance on non-USD trade settlement systems. 'The USD's supremacy is no longer absolute. Central banks are diversifying away from USD reserves, gold demand is surging, and new payment systems are circumventing US financial infrastructure,' the report noted. Ringgit's Re-Emergence in a New Currency Order According to Kenanga, Malaysia is well-positioned to benefit from these global realignments. The ringgit, which has traded within various psychological bands over the years, is now set to re-enter a stronger trading range last seen before the COVID-19 pandemic, buoyed by Malaysia's steady current account surplus, trade resilience, and a stable policy backdrop. It noted that the ringgit hovered in the 4.50–5.00/USD range for most of 2023 and 2024 but is likely to appreciate into the 3.50–4.00/USD band by mid-2026, if reform momentum is sustained. This is not a tactical shift,' the report stressed. 'It reflects a reconfiguration of capital flows, remapped reserve strategies, and a growing fiscal discount on US assets.' Regional Trade and Digital Currency Systems Gaining Ground Malaysia's alignment with regional de-dollarisation trends was also noted, with Bank Negara Malaysia pushing for increased trade settlement in local currencies, particularly with China, Indonesia, and Thailand. Projects like the cross-border digital currency platform 'Project mBridge' are expected to reduce reliance on the US dollar while increasing monetary autonomy in Asia. Kenanga highlighted that conducting 20% of trade in local currencies is no longer aspirational but now viewed as a strategic necessity. Competing with Gold and Bitcoin Despite these positives, the ringgit's upward potential now faces competition from alternative assets. Kenanga warned that capital which once flowed into emerging market currencies is now being split three ways—with gold and BTC becoming increasingly attractive hedges against inflation and systemic risk. Gold purchases by central banks are at record highs, and BTC's inclusion in institutional portfolios following US ETF approvals is reshaping capital allocation. 'The ringgit now competes not just with the USD, but with gold, BTC, and digital alternatives,' Kenanga stated. 'Malaysia must differentiate not just through macro stability, but through reform-driven credibility, ESG alignment, and financial innovation.' Outlook: Malaysia Could Emerge as Regional Safe Haven Kenanga concluded that the ringgit's recent gains are not merely a product of USD weakness but reflect genuine investor interest in credible, reform-oriented markets like Malaysia. If the US continues down a fiscally unsustainable path while Malaysia presses ahead with its National Industrial Master Plan 2030 (NIMP 2030) and structural reforms, the ringgit could be revalued as a stable proxy in Asia's emerging financial architecture. Kenanga has also revised its forecast for the ringgit to strengthen further to 3.95/USD by end-2026. 'Malaysia's fundamentals are improving at the margin,' the report concluded. 'In a world where the USD hegemony is fading, the ringgit could quietly emerge as a relative winner.' This bullish long-term outlook hinges on Malaysia maintaining policy credibility and accelerating reform implementation—especially in boosting productivity, supply chain integration, and attracting quality investments. Related
BusinessToday
22-05-2025
- Business
- BusinessToday
April CPI Reading Points To OPR Hold For 2025: Kenanga
Malaysia's headline inflation rate remained unchanged at 1.4% year-on-year in April, marking the lowest level in 50 months, according to Kenanga Investment Bank's Consumer Price Index (CPI) analysis of today's report released by DOSM. The figure was in line with both market consensus and house expectations. Although annual inflation held steady, price pressures inched up month-on-month (MoM) by 0.15%, reversing a flat reading in March. The uptick was driven by increased costs in housing, miscellaneous goods and communication services. These gains were partially offset by a slight monthly decline in food prices, which slipped by 0.06% after rising 0.06% in the previous month. Core inflation, which strips out volatile items such as food and fuel, rose modestly to 2.0% year-on-year (MoM: 0.23%), up from 1.9% in March. This suggests resilient underlying demand in the domestic economy despite the subdued headline figure. Price Pressures Shift Beneath the Surface Housing costs rose slightly to 2.0% (March: 1.9%), underpinned by a notable rise in repair and security costs for dwellings, which surged 6.7%. rose slightly to 2.0% (March: 1.9%), underpinned by a notable rise in repair and security costs for dwellings, which surged 6.7%. Miscellaneous goods and services posted a 4.1% increase (March: 3.6%), led by higher prices for jewellery and watches (up 19.6%). posted a 4.1% increase (March: 3.6%), led by higher prices for jewellery and watches (up 19.6%). Communication deflation eased to -4.5% (March: -5.4%) as mobile service charges rose 2.4% MoM. eased to -4.5% (March: -5.4%) as mobile service charges rose 2.4% MoM. Food and beverage inflation moderated to 2.3% (March: 2.5%)—a six-month low—largely due to the Aidilfitri 2025 Festive Season Maximum Price Control Scheme. Prices of fresh meat and fish dropped by 0.7% and 0.2%, respectively. moderated to 2.3% (March: 2.5%)—a six-month low—largely due to the Aidilfitri 2025 Festive Season Maximum Price Control Scheme. Prices of fresh meat and fish dropped by 0.7% and 0.2%, respectively. Global Inflation Trends Mixed Inflation remained uneven across global markets: United States saw inflation ease to 2.3%, the lowest since early 2021. However, core inflation stayed high at 2.8%, leaving the Federal Reserve cautious despite growing speculation over rate cuts. saw inflation ease to 2.3%, the lowest since early 2021. However, core inflation stayed high at 2.8%, leaving the Federal Reserve cautious despite growing speculation over rate cuts. United Kingdom experienced a spike to 3.5%, a 15-month high, due to Easter-related airfare and utility hikes—dampening expectations of a Bank of England rate cut in August. experienced a spike to 3.5%, a 15-month high, due to Easter-related airfare and utility hikes—dampening expectations of a Bank of England rate cut in August. China remained in deflationary territory for the third month at -0.1%, although MoM prices rose slightly by 0.1% on stronger holiday spending. Demand concerns linger amid weak retail sales. remained in deflationary territory for the third month at -0.1%, although MoM prices rose slightly by 0.1% on stronger holiday spending. Demand concerns linger amid weak retail sales. Outlook: Inflation Seen at 2.7% in 2025 Kenanga maintains its 2025 inflation forecast at 2.7% (2024: 1.8%), with the outlook highly contingent on the government's July fuel subsidy rationalisation plan. Other key domestic drivers include a revised electricity tariff structure under RP4 and a potential hike in nationwide water tariffs. While some market watchers expect a possible interest rate cut by Bank Negara Malaysia (BNM) in the fourth quarter of 2025, Kenanga sees the central bank holding steady. The Overnight Policy Rate has remained unchanged since mid-2023, and with inflation under control and growth stable, BNM is likely to maintain its current policy stance unless GDP growth slips below 3.5%. 'Delaying necessary reforms to avoid inflation spikes may hurt economic credibility in the long run,' the report concluded, highlighting the balancing act between price stability, fiscal discipline, and sustainable growth. Related
