Trending News: Hanoi leads in implementing OCOP programmeMOF Hands Over 25 Boats To 10 Villages In Hulu BesutGovernment Initiatives Boost Malay Language Mastery In Vernacular Schools – MOEMA63: Govt Increases Interim Special Grant For Sabah, Sarawak To RM600 Million – DPM FadillahMalaysian Shopee Live Sellers Achieve 6.5x Sales Increase On 9.9 Super Shopping DayRinggit Ends Higher Against Major Currencies Except Us DollarOratory Competition Platform For Students To Embrace Rukun NegaraTwo KRTs In Perlis Achieve Progressive StatusLabuan Customs Seizes Over RM1.1 Mil In Contraband, Vehicles In Five-day OperationFBM KLCI Futures End Mostly Lower On Last-minute SellingFBM KLCI Dips Into Red At Close, Bucking Regional Trend But Small Caps Support Broader MarketDialysis Centre In Felda Sahabat To Ease Burden On Settlers, Nearby VillagersHannah Urges NSC, MPM To Resolve Misunderstandings ProfessionallySAS 2024 Hits RM1.3 Billion Potential Transaction TargetKelantan APM Ready To Face Northeast MonsoonMbpp Enforcement Officers To Be Equipped With Body Cameras To Enhance Transparency, SafetyPahang Records 5.9 Million Tourist Arrivals Spending Rm5.3 BillionNo More ‘Closed En-Counter’ as JPJ State Chiefs Warned of SOP Ahead of SpotchecksLPPKN Targets 70 Pct Response Rate In MPFS-6 2024Shah Alam Section 7 Lake Resumes Recreational ActivitiesSafety Of Fishermen Not An Issue In South China Sea – Mohamad SabuRamanan Receives SSAP Award With ‘Datuk Seri’ TitleThree Arrested In Connection With Death Of Former Malaysian GP RacerDomestic Tourism Expenditure Soars To RM78.7 Bln In 2023 – DOSMBenchmark Celebrates Grand Opening Of New Facility In PenangWorlskills Lyon: Malaysian Youth Continue To Show Quality And Skill At Global StageRestaurant In Sunway Mentari Fulfills Cravings For Traditional Bajau CuisineTwo Suspected Loan Sharks Nabbed In IpohTengku Meriam Heads Pahang Honours ListPreparations In Full Swing For Malaysia Day Celebrations In Sabah – AlesiaMOSTI Encourages Greater Private, State Involvement In Aerospace SectorSabah Welcomes RM600 Million Interim Special Grant From Federal GovtRXZ Members 6.0: JPJ Reminds Organisers, Participants To Comply With Rules1MDB Only Paid Us$2.2 Bln To Aabar – Financial Fraud InvestigatorShopee Sees 6.5-fold Sales Increase For Local Sellers During 9.9 Super Shopping DayPenang Tackles Persistent Flooding With New RTB Projects‘GPP KiTa’ Launched To Streamline Plant Factory Approvals, Boost Urban AgricultureKKR To Work With JPS To Overcome Flood Issues In Jalan Kampung Sembrong DalamGovt, Felda To Discuss Return Of NCR Land To Rightful Owners In Tambisan – PM AnwarTribute To Hanif Omar: Far-sighted And Meticulous Top CopAnwar Chairing MTPMA63 Meeting In SabahMA63: 11 Demands Resolved, More To Be Addressed – DPM FadillahUnemployed Man Jaiiled, Fined For Seditious Posting On TikTokCPO Futures Close Lower Tracking Weaker Soybean Oil PricesThe WatchFund SG and Konvi Reach pound 2 million in Assets Under Management350 Made Homeless In Bintulu Longhouse FireGOF Seizes 1,000 Kg Of Smuggled Rice In Pasir MasJHEAINS Seals Two Houses Used As Unregistered Madrasah In Kuala PilahNAFAS Unveils New Marinade Products At MAHA 2024National Archives open To Collaborations On Film Depicting 1972 Sg Kerian Ferry TragedyFelda’s Success Owes Much To Resilience of Early Settlers, Says PM AnwarBudget 2025: Call For Govt To Continue Advancing Social Well-beingLabourer Jailed 72 Years, 60 Strokes Of The Cane For Raping DaughterBank Islam Celebrates Seven Al-Awfar Draw WinnersAvnet to Support South East Water’s Mass Digital Meter DeploymentPhlexcell, NanoMalaysia and Universiti Teknologi Petronas Ink MoU To Advance Solar Technology And Flexible ElectronicsVietnamese, German parties hold 9th dialogue in BerlinCIMB collaborates with Samsung to introduce innovative solutions for selected Galaxy devicesNajib Still Hospitalised, 1MDB Trial Postponed To Sept 1719-year-old Assistant At Childcare Centre Charged With Abusing Four ChildrenMCMC’s MIV With Community Programme Helps Boost Digital Literacy In SelangorNational Shuttlers Can Spring Surprises In World Junior Meet – CoachSchool Bus Driver Charged Again For Offensive TikTok CommentMalaysia Aims To Maintain Good Relations With All Countries – PM AnwarMan Charged With Murdering Parents Jailed Nine Years For Causing Hurt To NieceFujitec Co., Ltd.: First Japanese Company To Receive Certification For Maintenance Using Advanced Remote Monitoring In Singapore, A Leading Country In Elevator MaintenanceCourt Allows Govt’s Application For Stay Over Land Transfer To Semantan EstateSmooth Rehearsal For Trooping Of The ColoursMandatory Halal Certification: Conference Of Rulers Will Have Final Say – DPM ZahidFormer Research Officer Of Politician Charged With Drug TraffickingSelangor Zakat Board Receives Over RM300,000 In Business Zakat From FGV Holdings BerhadBoosting Farmers’ Incomes With Solar PanelsMan-Eating Croc Shot Dead In Lahad DatuKPDN Raids Premises Used To Misappropriate LPG In Negeri SembilanInvest Malaysia 2024 Hong Kong Attracts 350 Investors With AUM Of Over US$3 TrillionBeyond The Three Highs: The Silent Threat Of Obesity In MalaysiaKBS Exploring Suitable Incentives To Attract Youth To Join Rakan Muda ProgrammeYIA Targets RM7.2 Mln In Annual Waqf Collections32,929 Students Nationwide Benefit From MACC’s WAR ProgrammeTwo Entertainment Centres Raided For Copyright InfringementKnowledge Is Key To Youth Success, Nation’s Progress – Dr MahathirFBM KLCI Makes Swift Rebound At Opening, Expected To Hover In 1,640-1,650 RangeJohor Leads Malaysia’s Agriculture Sector With Strong Vision, Strategy – ArthurMalaysia To Increase Participation At Next WSCOp Global: 171 Individuals Remanded For Seven Days From Today – IGPBUSINESSNEXT recognized in the 2024 Gartner® Sales Force Automation Magic Quadrant S, for 11 years runningSingapore based publishers focussed startup by Ex-Googlers, Crackle Technologies raises USD 1.7 Mn to Revolutionize Adtech with AI-Powered SolutionsTop leader gives encouragement to flood victims in Phu ThoWWF’s climate resilient project yields efficiency in Bac Lieu provinceParty membership badges bestowed upon former, incumbent National Assembly officialsVietnamese, Lao Party Central Committees’ Organisation Commissions strengthenQuang Nam, Da Nang, Thua Thien-Hue promote tourism in AustraliaLaos commends cooperation between Vietnam, Lao Journalists AssociationsYSIJ Donates 111 Smart Televisions To Schools In JohorVietnam, Maldives explore economic opportunitiesMalaysia Ready To Collaborate With Other Nations In Defence Technology – Mohamed KhaledNA Chairman directs settlement of aftermaths of Typhoon Yagi in Thai Nguyen52 Years On: Family Members Share Emotional Accounts Of Sg Kerian Ferry TragedyTop Lao leader meets with former Vietnamese PresidentsSeniority No Longer A Guarantee For Promotion In Public Service, Says Melaka CM
Sat. Sep 14th, 2024
Trending News: Hanoi leads in implementing OCOP programmeMOF Hands Over 25 Boats To 10 Villages In Hulu BesutGovernment Initiatives Boost Malay Language Mastery In Vernacular Schools – MOEMA63: Govt Increases Interim Special Grant For Sabah, Sarawak To RM600 Million – DPM FadillahMalaysian Shopee Live Sellers Achieve 6.5x Sales Increase On 9.9 Super Shopping DayRinggit Ends Higher Against Major Currencies Except Us DollarOratory Competition Platform For Students To Embrace Rukun NegaraTwo KRTs In Perlis Achieve Progressive StatusLabuan Customs Seizes Over RM1.1 Mil In Contraband, Vehicles In Five-day OperationFBM KLCI Futures End Mostly Lower On Last-minute SellingFBM KLCI Dips Into Red At Close, Bucking Regional Trend But Small Caps Support Broader MarketDialysis Centre In Felda Sahabat To Ease Burden On Settlers, Nearby VillagersHannah Urges NSC, MPM To Resolve Misunderstandings ProfessionallySAS 2024 Hits RM1.3 Billion Potential Transaction TargetKelantan APM Ready To Face Northeast MonsoonMbpp Enforcement Officers To Be Equipped With Body Cameras To Enhance Transparency, SafetyPahang Records 5.9 Million Tourist Arrivals Spending Rm5.3 BillionNo More ‘Closed En-Counter’ as JPJ State Chiefs Warned of SOP Ahead of SpotchecksLPPKN Targets 70 Pct Response Rate In MPFS-6 2024Shah Alam Section 7 Lake Resumes Recreational ActivitiesSafety Of Fishermen Not An Issue In South China Sea – Mohamad SabuRamanan Receives SSAP Award With ‘Datuk Seri’ TitleThree Arrested In Connection With Death Of Former Malaysian GP RacerDomestic Tourism Expenditure Soars To RM78.7 Bln In 2023 – DOSMBenchmark Celebrates Grand Opening Of New Facility In PenangWorlskills Lyon: Malaysian Youth Continue To Show Quality And Skill At Global StageRestaurant In Sunway Mentari Fulfills Cravings For Traditional Bajau CuisineTwo Suspected Loan Sharks Nabbed In IpohTengku Meriam Heads Pahang Honours ListPreparations In Full Swing For Malaysia Day Celebrations In Sabah – AlesiaMOSTI Encourages Greater Private, State Involvement In Aerospace SectorSabah Welcomes RM600 Million Interim Special Grant From Federal GovtRXZ Members 6.0: JPJ Reminds Organisers, Participants To Comply With Rules1MDB Only Paid Us$2.2 Bln To Aabar – Financial Fraud InvestigatorShopee Sees 6.5-fold Sales Increase For Local Sellers During 9.9 Super Shopping DayPenang Tackles Persistent Flooding With New RTB Projects‘GPP KiTa’ Launched To Streamline Plant Factory Approvals, Boost Urban AgricultureKKR To Work With JPS To Overcome Flood Issues In Jalan Kampung Sembrong DalamGovt, Felda To Discuss Return Of NCR Land To Rightful Owners In Tambisan – PM AnwarTribute To Hanif Omar: Far-sighted And Meticulous Top CopAnwar Chairing MTPMA63 Meeting In SabahMA63: 11 Demands Resolved, More To Be Addressed – DPM FadillahUnemployed Man Jaiiled, Fined For Seditious Posting On TikTokCPO Futures Close Lower Tracking Weaker Soybean Oil PricesThe WatchFund SG and Konvi Reach pound 2 million in Assets Under Management350 Made Homeless In Bintulu Longhouse FireGOF Seizes 1,000 Kg Of Smuggled Rice In Pasir MasJHEAINS Seals Two Houses Used As Unregistered Madrasah In Kuala PilahNAFAS Unveils New Marinade Products At MAHA 2024National Archives open To Collaborations On Film Depicting 1972 Sg Kerian Ferry TragedyFelda’s Success Owes Much To Resilience of Early Settlers, Says PM AnwarBudget 2025: Call For Govt To Continue Advancing Social Well-beingLabourer Jailed 72 Years, 60 Strokes Of The Cane For Raping DaughterBank Islam Celebrates Seven Al-Awfar Draw WinnersAvnet to Support South East Water’s Mass Digital Meter DeploymentPhlexcell, NanoMalaysia and Universiti Teknologi Petronas Ink MoU To Advance Solar Technology And Flexible ElectronicsVietnamese, German parties hold 9th dialogue in BerlinCIMB collaborates with Samsung to introduce innovative solutions for selected Galaxy devicesNajib Still Hospitalised, 1MDB Trial Postponed To Sept 1719-year-old Assistant At Childcare Centre Charged With Abusing Four ChildrenMCMC’s MIV With Community Programme Helps Boost Digital Literacy In SelangorNational Shuttlers Can Spring Surprises In World Junior Meet – CoachSchool Bus Driver Charged Again For Offensive TikTok CommentMalaysia Aims To Maintain Good Relations With All Countries – PM AnwarMan Charged With Murdering Parents Jailed Nine Years For Causing Hurt To NieceFujitec Co., Ltd.: First Japanese Company To Receive Certification For Maintenance Using Advanced Remote Monitoring In Singapore, A Leading Country In Elevator MaintenanceCourt Allows Govt’s Application For Stay Over Land Transfer To Semantan EstateSmooth Rehearsal For Trooping Of The ColoursMandatory Halal Certification: Conference Of Rulers Will Have Final Say – DPM ZahidFormer Research Officer Of Politician Charged With Drug TraffickingSelangor Zakat Board Receives Over RM300,000 In Business Zakat From FGV Holdings BerhadBoosting Farmers’ Incomes With Solar PanelsMan-Eating Croc Shot Dead In Lahad DatuKPDN Raids Premises Used To Misappropriate LPG In Negeri SembilanInvest Malaysia 2024 Hong Kong Attracts 350 Investors With AUM Of Over US$3 TrillionBeyond The Three Highs: The Silent Threat Of Obesity In MalaysiaKBS Exploring Suitable Incentives To Attract Youth To Join Rakan Muda ProgrammeYIA Targets RM7.2 Mln In Annual Waqf Collections32,929 Students Nationwide Benefit From MACC’s WAR ProgrammeTwo Entertainment Centres Raided For Copyright InfringementKnowledge Is Key To Youth Success, Nation’s Progress – Dr MahathirFBM KLCI Makes Swift Rebound At Opening, Expected To Hover In 1,640-1,650 RangeJohor Leads Malaysia’s Agriculture Sector With Strong Vision, Strategy – ArthurMalaysia To Increase Participation At Next WSCOp Global: 171 Individuals Remanded For Seven Days From Today – IGPBUSINESSNEXT recognized in the 2024 Gartner® Sales Force Automation Magic Quadrant S, for 11 years runningSingapore based publishers focussed startup by Ex-Googlers, Crackle Technologies raises USD 1.7 Mn to Revolutionize Adtech with AI-Powered SolutionsTop leader gives encouragement to flood victims in Phu ThoWWF’s climate resilient project yields efficiency in Bac Lieu provinceParty membership badges bestowed upon former, incumbent National Assembly officialsVietnamese, Lao Party Central Committees’ Organisation Commissions strengthenQuang Nam, Da Nang, Thua Thien-Hue promote tourism in AustraliaLaos commends cooperation between Vietnam, Lao Journalists AssociationsYSIJ Donates 111 Smart Televisions To Schools In JohorVietnam, Maldives explore economic opportunitiesMalaysia Ready To Collaborate With Other Nations In Defence Technology – Mohamed KhaledNA Chairman directs settlement of aftermaths of Typhoon Yagi in Thai Nguyen52 Years On: Family Members Share Emotional Accounts Of Sg Kerian Ferry TragedyTop Lao leader meets with former Vietnamese PresidentsSeniority No Longer A Guarantee For Promotion In Public Service, Says Melaka CM
Sat. Sep 14th, 2024

CIMB Upgrades GDP Forecast To 5.2 Pct, Expects Ringgit To Strengthen To 4.22 Level In 2024


KUALA LUMPUR, CIMB Group Holdings Bhd has upgraded its 2024 gross domestic product (GDP) growth forecast to 5.2 per cent after the country reported a strong second quarter of 2024 (2Q 2024) GDP growth of 5.9 per cent.

Group chief financial officer Khairul Rifaie said CIMB also expects the ringgit to further strengthen to the 4.22 level versus the US dollar in 2024.

‘In terms of our house view of GDP, because of the very strong 2Q growth that we recorded so far, we usually upgrade in terms of our forecast for 2024. We are looking at about 5.2 per cent GDP growth for 2024.

‘For the ringgit, we are looking at further strengthening to 4.22 level in 2024,’ he told reporters in a media briefing for the group’s 2Q 2024 financial results here today.

On Aug 16, Bank Negara Malaysia (BNM) said Malaysia’s economy saw a robust expansion of 5.9 per cent in 2Q 2024 exceeding earlier prediction of 5.8 per cent, bolstered by resilient household spending, vigorous investment activities and a significant increase in touri
sm arrivals.

BNM governor Datuk Seri Abdul Rasheed Ghaffour said the 5.9 per cent GDP growth in 2Q 2024 is the highest since the fourth quarter in 2022.

At Friday’s (Aug 30) closing, the local currency was slightly lower to 4.3185/3225 versus the greenback from Thursday’s close of 4.3080/3140.

In a filing with Bursa Malaysia today, CIMB’s net profit rose by 10.6 per cent to RM1.96 billion in the second quarter ended June 30, 2024 (2Q FY2024) compared to RM1.77 billion a year ago.

Revenue increased by 5.0 per cent to RM5.60 billion for the quarter under review from RM5.33 billion previously, underpinned by stronger net interest income and non-interest income from trading and non-performing loan sale gains.

Source: BERNAMA News Agency

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