The just concluded 13th General Election (GE13) yesterday, 5 May 2013, ended
with the ruling coalition Barisan Nasional (BN) retaining power with a slightly
lesser majority than in the 12th General Election (GE12).
BN won 133 (60%) of the 222 Parliament seats contested, down from the 140
(63%) won in GE12.
OTHERS
Allianz: General insurance unit expects to beat industry growth rate.
Allianz General Insurance Co (M) Bhd, a unit of Allianz Malaysia Bhd (AMB),
expects to exceed the industry's projected growth rate this year by registering
a double digit-growth for its gross written premiums. On the whole, it aims to
at least match last year's performance in the current financial year. (Source:
Star)
MNRB: Expects earnings boost from new products. MNRB
Holdings Bhd said it expects its takaful insurance business as operated by
Takaful Ikhlas Sdn Bhd to churn out higher earnings this year due to its new
products and better distribution channels. Currently, more than 90 per cent of
MNRB's net profit comes from Malaysian Reinsurance Bhd, a general reinsurance
company. The rest is derived from Takaful Ikhlas, MNRB Retakaful Bhd, Malaysian
Re (Dubai) Ltd (MRDL) and MMIP Services Sdn Bhd. (Source: Business
Times)
Market: Foreigners net buyers of local stocks for 21 days.
Foreign investors were net buyers of equities traded on Bursa Malaysia for
21 consecutive days, with the buying frenzy threatening to overshadow the
current record of 20 weeks of consecutive buying by them. Interest by overseas
investors has helped to boost the market by more than six per cent this year.
YTD, foreign funds have a net investment totaling MYR13.2b in the local stock
market, which is a huge sum considering that for 2012, the net investment from
the funds was MYR13.7b. (Source: Business Times)
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