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By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Dec 15) — Heres a roundup of local news:
*Hunt for Asia’s Next Big Currency Trade Lands on Ringgit, Yuan
Malaysias ringgit and Chinas yuan are emerging as Asias most-promising currencies for fund managers as they look for the best place to put their money in the new year. A rebound in exports, widening current-account surpluses for some nations and an ongoing global chase for yields are fueling optimism that regional currencies will extend their rally into 2018. A gauge of Asian currencies is up 5.5 percent this year, set for its best performance since 1998. South Koreas won is leading spot gains, while the ringgit tops in terms of total returns. – Bloomberg News
*McDonald’s Malaysia lodges police report over boycott calls
McDonald’s Malaysia has filed a police report against several individuals and non-governmental organizations for making false claims and calling for a boycott of the franchise. Gerbang Alaf, the local operator of McDonald’s Malaysia, said on Thursday that the report was lodged primarily to protect the livelihood of 12,000 employees and safeguard against a possible threat of damage to the companys property. – Channel News Asia
*Hovid lowers acceptance condition, again
The acceptance condition to take Ipoh-based Hovid private has once again been revised down. The manufacturer of pharmaceutical products said in an announcement to Bursa Malaysia that it has received a notice from Fajar Astoria and David Ho that the acceptance condition for the offer has been revised to 67%. – The Star
*EA proposes bonus issue, RM78m acquisition
EA Holdings has proposed a bonus issue of up to 1.6 million warrants on the basis of five free warrants E for every 16 existing shares in the company. The exercise price of the warrants is yet to be determined but the indicative price is four sen, a discount of about 0.5% to the five-day volume weighted average market price of EA shares up to Dec 13. – The Star
– By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
– Edited by Glen Nicol Perkinson
– Send Feedback to feedback@nikkeinewsrise.com
– Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd
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