Vietnam Dong Slumps to Record Low as Adviser Warns of ‘Shock’

By Bloomberg News

Aug. 19 (Bloomberg) -- Vietnam’s currency dropped for a fourth straight day to a record low after an adviser to the Prime Minister said the country risks a foreign-currency liquidity ‘shock.’

The warning came after the central bank yesterday devalued the currency for a third time in the past year to boost exports and shore up the nation’s trade deficit that has nearly doubled in the seven months through July. The currency has slumped 5.2 percent in 2010, the worst performance among 16 currencies in Asia monitored by Bloomberg. Forwards contracts signal traders are betting on an 8.5 percent drop in the coming year.

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BNM - Liberalisation of the Foreign Exchange Administration Rules

Liberalisation of the Foreign Exchange Administration Rules

As part of Bank Negara Malaysia's continued effort to enhance flexibility of the economy, the Bank wishes to announce the further liberalisation of administrative rules on foreign exchange transactions. This aims to promote greater efficiency in the conduct of international trade and a conducive business environment in Malaysia so as to strengthen the linkages with the regional and global economies.

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UMW secured contract for Naga 2

UMW secured a contract for Naga 2. Read the research view by Maybank investment.

Sime Darby - Bakun Cost Overrun

Sime Darby: Bakun Cost Overrun Research report by CIMB research. Read it more here.

Sime Darby - Trouble Looming

KUALA LUMPUR, Aug 12: Is Sime Darby heading for another round of trouble after suffering losses topping RM3 billion last year?

Kumpulan Guthrie Berhad, a company now part of the embattled Sime Darby, recently lost a civil suit to Indonesian firm PT Adhiyasa Saranamas in the Indonesian Supreme Court in excess of US$25 million, which has now ballooned to US$41 million.

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