MONEY MASTER

Foreign investors are back in Malaysia — and they’re placing big bets on utilities. Here’s what moved the market last week, and where the smart money went. Global Pulse US Jobs Data : 147k jobs added, unemployment at 4.1% →  Rate cuts now expected in September US Tariffs : 10% on EU exports →  DAX down -1.02% Commodities : Brent oil +0.78%, CPO +1.27% Asia Market Moves : India : +US$497m foreign inflow (manufacturing boom) Vietnam : +US$22.6m (after new tariff deals) South Korea : -US$336.5m (factory slump) Indonesia : -US$171.6m Malaysia :  2-week foreign buying streak continues Malaysia Highlights: Foreign Funds Target TENAGA Total Foreign Inflow : RM303 million Top Sectors Bought by Foreigners : Utilities : RM419m Industrials : RM183m Top 3 Foreign Picks : TENAGA : RM254m net buy WPRTS : RM56m SUNWAY : RM52m Retail Investors Shift Tactics Retail Net Outflow : RM364 million Top Retail Buys : MAYBANK : RM44m TOPGLOV : RM30m CIMB : RM18m Biggest Retail Sell-Offs : GAMUDA ...

1MDB near to $2.3 billion 1 Malaysia Development Bhd, which has been embroiled in much controversy for the high debt that it has accumulated is closing on an agreement to sell control of its power business to Chinese-led bidding group as part of its plan to wind down its' operations. An agreement with the consortium, which includes China General Nuclear Power Corp. and Qatar's Nebras Power QSC is coming to a near conclusion. The deal is said to have the 1MDB's Edra Global Energy Bhd. unit at about 10 billion ringgit ($2.3 billion), trumping a rival offer from Malaysian energy producer Tenaga Nasional Bhd.  With so much controversy surrounding the 1 Malaysia Development Bhd, the impending rising rate by the US Fed and the unconvincing economical data coming out from China, the Malaysian Ringgit has suffered an 18% drop this year, making it as the worst performing currency in Asia. This has been beneficial to the foreign bidders to buy the 1MDB power plants. T...