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Malaysia’s corporate landscape saw a mix of  fundraising activities, renewable energy expansion, IPO enthusiasm and balance sheet restructuring  dominate headlines, reflecting continued investor appetite for growth and defensive sectors despite broader market caution. Tenaga Advances Renewable Energy Push KL: TENAGA  strengthened its renewable energy ambitions after its subsidiary issued  RM1.05 billion in Asean Green SRI Sukuk  to finance a  500MW solar photovoltaic project in Kedah . The issuance highlights increasing institutional support for  green financing  and reinforces Tenaga’s long-term transition towards cleaner energy infrastructure. Investors may view the move positively as ESG-linked investments continue gaining traction across regional markets. Mr DIY Expands Funding Flexibility KL: MRDIY  raised  RM540 million via its maiden bond issuance , with proceeds earmarked for refinancing, working capital and expansion plans. The ...
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AmBank expects USD/MYR to trade a tighter range of 3.968 to 4.078

A forex report by AmBank said that it expects the USD/MYR to trade a tighter range of 3.968 to 4.078 on shorter trading days due to Hari Raya holidays, gridlock formation in oil prices and depreciation pressure on CNY.

Ringgit
Last week, USD/MYR broke key supports of 50- and 100-day MA to close below 4.00 level.

It was impressive follow a rather downtrend after the Brexit but the pair has rebounded strongly after that. The currency pair was the second best performing currency with a 2.30% gain against US dollar due to declining 1-month volatility, reduced expectation of higher US
rates and declining cross SGD/MYR below psychological level of 3.00. 

This week, we envisage the pair to trade in a tighter range of 3.968 to 4.078 on shorter
trading days due to Hari Raya holidays, gridlock formation in oil prices and depreciation pressure on CNY.

Chart wise, RSI continued to head south, and along with widening MACD gap, it suggests that the currency pair is likely to be range bound trading. Uptick in 50- day MA crossing above 100-day MA at 4.0456 points to a possibility that the USD/MYR to trade on strengthening bias.

(Source: AmBank FX Weekly report)


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