The ringgit extended yesterday's uptrend to open higher against the US dollar Tuesday, ahead of Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) meeting today, with the market expecting a 25 basis point cut in interest rates today.
At 9.01am, the local note stood at 4.1990/2030 against the greenback from 4.2010/2040 recorded at 6pm on Monday.
Chocolate maker Guan Chong Bhd’s share price jumped 15 sen or 5.7% to an intraday high of RM2.78 today on news that its Singaporean subsidiary had concluded its acquisition of German chocolate maker Schokinag Holding GmbH for RM137.84 million at the end of January.
In a Bursa Malaysia filing yesterday, Guan Chong said its unit GCB Pte Ltd had completed the purchase of Schokinag on Jan 30.
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