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Malaysia’s central bank once again left rates on hold as economic stability gave it room to keep policy settings steady even as Middle East tensions flare, the Wall Street Journal reported. Bank Negara Malaysia on Thursday left its overnight policy rate at 2.75%, extending a pause stretching back to July last year, when it delivered a 25-basis-point cut due to threats to the economy from external uncertainties.
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Malaysia’s Asia Digital Engineering Sdn. Bhd. has secured a US$100mil bank loan to refinance part of its expensive private debt, a sign lenders are growing comfortable backing the company after its parent Capital A Bhd.’s exit from distressed status, TheStar.com reported. The proceeds of the loan received from Qatar’s QNB Group will be used to fund the aircraft maintenance firm’s planned expansion and capacity growth, the company said in a statement on Friday.
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Malaysia’s central bank once again left interest rates unchanged as inflation remains contained and the economy shows resilience amid disruptions caused by the Middle East conflict, the Wall Street Journal reported. Bank Negara Malaysia kept its overnight policy rate at 2.75% on Thursday, holding steady since it delivered a 25-basis-point cut in July last year.
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Goldman Sachs has agreed to settle a class-action lawsuit accusing the Wall Street bank of defrauding shareholders about its work for 1MDB, a Malaysian sovereign wealth fund that became embroiled in a corruption scandal, Reuters reported. In a letter filed on Wednesday in Manhattan federal court, Goldman and the shareholders said they reached an agreement-in-principle to settle, and plan to submit a settlement for preliminary approval by May 20.
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