Daily Industry News Update (27 May 2022)

UEM Sunrise says no profit erosion from construction cost hike this year

UEM Sunrise Bhd chief executive officer Sufian Abdullah said on Thursday that the hike in construction cost is not eroding the group’s profitability for the financial year ended Dec 31, 2022 (FY22).

Ringgit opens marginally higher against greenback

The ringgit opened marginally higher against the US dollar today in the absence of hawkish surprises from the US Federal Open Market Committee (FOMC) meeting minutes.