Published at 03:24 (GMT) 05 Mar
Star: Although Petronas posted an 8.4% y/y rise in profit for 2013 to MYR 54.11bn, its dividends to the government fell MYR 1bn to MYR 27bn. The state oil company is committed to pay out 30% of its income as dividends to the Federal Government. President and CEO Tan Sri Shamsul Azhar Abas refrained from providing a profit forecast for this year, saying challenges could persist on costs and softening demand from emerging and developed countries, as well as declining margins.
USD/MYR had a brief dip to seven-week lows of 3.2655 before rebounding to mid-3.27, tracking USD/SGD bounce. 3.2640 seen as strong support, 3.2760 immediate hurdle. BA
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