The ringgit opened easier against the US dollar and other major currencies.
As at 9.00 am, the local unit was quoted at 3.9850/9880 against the greenback from Tuesday's close of 3.9480/9530.
The Securities Commission Malaysia (SC) yesterday called upon venture capital (VC) management companies to apply for the RM1 billion fund committed by major institutional investors, as announced in Budget 2018.
The Venture Capital Fund Co-ordination Committee, comprising senior representatives from major institutional investors and chaired by the SC, has been established to co-ordinate the assessment and selection process of potential submissions by VC management companies.
Bursa Malaysia Bhd registered a Profit After Tax and Minority Interest (PATAMI) of RM63.8 million for the first quarter ended 31 March 2018 (1Q2018), an increase of 12.6% from RM56.6 million reported in the previous first quarter ended 31 March 2017 (“1Q2017”), and an increase of 15.4% compared to the preceding quarter ended 31 December 2017.
Both cost-to-income ratio and annualised return on equity (“ROE”) saw improvements by 3 and 4 percentage points respectively. The growth in PATAMI is primarily due to higher operating revenue of RM144.8 million, a 7.5% increase from the previous corresponding quarter. Earnings per share for the first quarter rose to 7.9 sen from 7.0 sen in the previous corresponding quarter (after adjusting for the effects of the bonus issue).