Forex stability: The plantations giant says it does not expect to book a huge forex translation loss again for the third quarter ending March 31.
THE foreign exchange (forex) woes faced by IOI Corp Bhd
, whose underlying business improvement has been overshadowed by the impact of the weakening ringgit in the three months to December 2016, are expected to ease in the months ahead.
This comes as the Malaysian currency has become relatively more stable, thanks to Bank Negara’s newly implemented forex market stabilisation programme, while IOI itself has internally implemented a forex-risk diversification exercise involving its US dollar-denominated loans.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
