Market Round-Up (weekly ended 19/04/2022)

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Sharing some Investing and Economic insights:

  • Serba Dinamik Sdn Bhd is being compounded by the Securities Commission Malaysia (SC) last Wednesday for submitting a false statement involving a revenue of RM6.01 billion for its financial period ended 31 Dec 2020, which was previously red-flagged by the company’s external auditor KPMG.
  • The Bank of Canada raised its interest rate by 50 basis points (0.50%) in its biggest hike in 22 years. S&P Global Ratings anticipates Malaysia’s policy rate to increase by 50 basis points or less this year.
  • UK inflation leapt to its highest level in thirty years last month, intensifying the pressure on the government to ease the cost-of-living. The annual inflation rate climbed to 7% in March from 6.2% in February, its highest since March 1992.
  • Elon Musk has made a “best and final” offer to buy Twitter Inc, saying the company has extraordinary potential and he is the person to unlock it. The world’s richest person will offer US$54.20 per share in cash, valuing Twitter at about US$43 billion.


Do You Know?

Securities Commission Malaysia (SC)

Body that regulates capital market players.

For example, PNB, Public Mutual, Raiz Malaysia are regulated by the SC. Bank Negara regulates banks and insurance companies.


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