PM: Malaysia won’t peg ringgit or impose capital controls
Prime Minister Datuk Seri Najib Razak said that the government will not impose capital controls or peg the ringgit to the US dollar. Although the current level of the ringgit does not reflect its fundamentals, the government recognises the integration of the Malaysian and global economies, given the openness of its trade and financial market. The adjustments facing the global economy and financial markets would have implications of the domestic market and exchange rate, he said. (Astro Awani)

WCT profits fall 9% in Q2 from lower property sales
WCT Holdings Bhd reported a 9% drop to RM31.06 million in its net profit for the second quarter ended June 30 compared to the previous corresponding period, attributed to lower contributions from overseas projects and its property development segment. Its revenue during the quarter, however, increased RM20.84mil from a year earlier. The company is cautiously optimistic of achieving satisfactory results for its financial year ending Dec 31, with the implementation of the 11^th Malaysia Plan and rollout of infrastructure projects. (The Star Online)

YTL Corp 4Q net proft down 15.6%, announces 9.5 sen dividend
Infrastructure conglomerate YTL Corp Bhd saw a 15.6% decline in net profit for its fourth quarter ended June 30, 2015 (4QFY15) from a year ago, amidst wider loss in hotel division and lower contribution from property development. Its revenue also dropped to RM4.11 billion (10.63%) from RM4.6 billion last year. The drop was attributed to lower contribution from IT and e-commerce business, cement manufacturing and trading, property investment and development, hotels and utilities. (The Edge Markets)

Malaysian building materials mission collects RM618mil in sales
The Malaysia External Trade Development Corporation (Matrade) special building materials mission of 16 companies to Melbourne collected a total RM618.8 million in sales. The mission aims to tap into the Australian construction, hardware and building supplies retail industry, valued at about RM1 billion a year. Australia imported over A$500 million worth of construction and building materials from Malaysia in 2014. The companies involved are suppliers of light emitting diodes (LEDs) and decorative lightings, timber flooring and decking, stainless steel kitchenware, residential and commercial furniture, biomass materials, plaster ceilings, among others. (Bernama)

Billionaire disposes Beijing property project for RM6.8bil
Malaysian billionaire Tan Sri Quek Leng Chan is selling a property development project in Beijing – held under Singapore-listed GuocoLand Ltd – to a state-owned asset management company in China for 10.5 billion yuan (RM6.79bil). The mixed use development project is located in the Dong Cheng district of Beijing city and has a useable area of over 91,000 sq m for office, commercial, apartment and underground parking facilities. The proceeds from the transaction would be used for the general working capital of GuocoLand and an opportunity to realise the capital value of the project. (The Star Online)

Edward Holloway of Resorts World Genting receiving the certification from Alan Pixel, adjudicator from Guinness World Records (Photo from Travel Daily Asia)

World’s largest hotel in Malaysia
The First World Hotel in Genting Highlands is officially the largest hotel in the world. Following a recent expansion project, the 7,351-room property was officially recognised by Guinness World Records. The hotel held the title between 2006 to 2013, but it was overtaken by The Palazzo hotel in Las Vegas until its RM300 million extension was completed this year. (Travel Daily Asia)

Many clueless about waste separation rule
On September 1, two million households in the country will have to separate their rubbish, but many still have no idea about what they are supposed to do. Members of the public have expressed their ignorance of the implementation of the ruling, and felt there was not enough publicity or awareness campaigns by the government to educate residents. Under the Solid Waste and Public Cleansing Management Act 2007, households in Kuala Lumpur, Putrajaya, Pahang, Johor, Malacca, Negri Sembilan, Perlis and Kedah have to separate their trash starting next month, while other states are unaffected for now. (The Star Online)

You can also check out our infographic on waste separation or read up on how to categorize your household rubbish here. 🙂