<div class=newsTextDataWrapInner>SINGAPORE (June 4): CIMB Bank Singapore announced Wednesday (June 3) that it will reduce its deposit rates and cost of deposits. This will allow the bank to maintain its floor rate at 0.1% for its existing consumer mortgage loans pegged to the one-month and three-month Singapore Interbank Offered Rate (SIBOR) and three-month Swap Offer Rate (SOR).</div>

<div class=newsTextDataWrapInner>The move comes as the bank factors in the market’s declining cost of deposits, which allowed the bank to reduce its deposit rates and cost of deposits to maintain its flor rate at 0.1%, says Victor Lee, CEO of CIMB Bank Singapore.</div>

<div class=newsTextDataWrapInner>“With a volatile mortgage interest rate market, we are offering for a limited time only<a href="https://www.theedgesingapore.com/news/banking-finance/cimb-bank-singapore-maintains-sibor-and-sor-floor-rate-01-offers-lowest-fixed" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (June 4): CIMB Bank Singapore announced Wednesday (June 3) that it will reduce its deposit rates and cost of deposits. This will allow the bank to maintain its floor rate at 0.1% for its existing consumer mortgage loans pegged to the one-month and three-month Singapore Interbank Offered Rate (SIBOR) and three-month Swap Offer Rate (SOR).

CIMB Bank Singapore maintains SIBOR and SOR floor rate at 0.1%, offers 'lowest fixed rates for SIBOR and SOR packages'

US investment group KKR is in talks with troubled British utility Thames Water and its advisers about participating in a £3 billion (US$3.88 billion or RM16.99 billion) share sale which forms part of a wider recapitalisation plan, Sky News reported on Saturday.

KKR exploring investment in Thames Water share plan — report

The government will introduce stricter laws to tackle cyberbullying, which is becoming more concerning, said Prime Minister Datuk Seri Anwar Ibrahim.

Govt to introduce stricter laws to tackle cyberbullying, says Anwar

TGI Fridays, an American casual dining chain, said on Saturday that it has filed for Chapter 11 bankruptcy protection after grappling with prolonged financial challenges and a collapsed deal with UK-based Hostmore.

TGI Friday's operator files for bankruptcy amid financial woes

British Prime Minister Keir Starmer promised reforms to speed up the economy and overhaul the public sector after the Labour government's first budget failed to boost the growth outlook and sent government bond prices into a two-day dive.

UK's Starmer pledges more growth reforms after budget hit to markets

Cooperation between Pakatan Harapan (PH) and Barisan Nasional (BN) should continue in the next general election following the political stability the country is currently enjoying.

PH-BN cooperation should continue, says Anwar

Prime Minister Datuk Seri Anwar Ibrahim has instructed Khazanah Nasional Bhd to conduct an internal audit following the RM43.9 million investment loss in FashionValet Sdn Bhd.

Anwar directs Khazanah to audit RM43.9m FashionValet investment loss

The West Coast Expressway (WCE) from Banting, Selangor, to Gelang Patah, Johor, will serve as an alternative route to alleviate the traffic congestion frequently faced by motorists on the North-South Expressway (NSE).

Loke: WCE to ease NSE congestion, boost local economy

Leakages and wastage in government subsidies allocated to the people must be effectively addressed through accurate data and information provided by the Department of Statistics Malaysia (DOSM), said Prime Minister Datuk Seri Anwar Ibrahim.

Accurate data needed to curb leakages in govt subsidies, says Anwar

The Malaysian Anti-Corruption Commission (MACC) has opened an investigation into the investment losses of Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) in a local online fashion business.

MACC opens investigation on Khazanah and PNB investment in online fashion business

The auditor general has been empowered to conduct audits on the accounts of 1,856 other companies, including the government-linked companies (GLCs) which came into effect on Friday.

Auditor general empowered to audit account of 1,856 other bodies, GLCs

AMMB Holdings Bhd (KL:AMBANK) — better known as AmBank Group — has been busy putting into action a five-year strategic plan, in which delivering better returns to shareholders is one of its key goals.

AmBank off to a good start

The wife of Zhu Su, the co-founder of collapsed cryptocurrency hedge fund Three Arrows Capital, has managed to sell a mansion she owns in Singapore for S$51 million (US$38.5 million or RM168.45 million), despite a court-imposed freeze against some of the couple’s other assets.

Disgraced Three Arrows founder’s wife sells US$39m Singapore mansion

U Mobile Sdn Bhd, which has been selected to implement the country’s second 5G network, will reduce its foreign majority shareholding to 20% to ensure greater Malaysian control and invite participation from local investors.

U Mobile to reduce foreign majority shareholdings to 20%

The Malaysian Anti-Corruption Commission (MACC) has opened an investigation into the investment losses of Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) in a local online fashion business.

Prime Minister Datuk Seri Anwar Ibrahim has instructed Khazanah Nasional Bhd to conduct an internal audit following the RM43.9 million investment loss in FashionValet Sdn Bhd.

Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has appointed Nazaiful Affendi Zainal Abidin as the chief strategy and services officer effective Nov 1, 2024.

KWAP appoints Nazaiful Affendi as chief strategy and services officer

Intel will be replaced by Nvidia on the blue-chip Dow Jones Industrial Average index after a 25-year run, underscoring the shift in the chipmaking market and marking another setback for the struggling semiconductor firm.

Nvidia to take Intel's spot on Dow Jones Industrial Average

Investors are bracing for a busy week packed with economic data, the third-quarter earnings season and, more importantly, the results of the US presidential election on Tuesday.

The Week Ahead: Attention on US presidential election, monetary policy decisions, economic data

The West Coast Expressway (WCE) from Banting, Selangor, to Gelang Patah, Johor, will serve as an alternative route to alleviate the traffic congestion frequently faced by motorists on the North-South Expressway (NSE).

Prime Minister Datuk Seri Anwar Ibrahim has insisted that he will not block and interfere in the investigation of the National Farmers' Organisation (Nafas) and Khazanah Nasional Bhd by the authorities including the Malaysian Anti-Corruption Commission (MACC).

Anwar: No obstruction, no interference in probe on Nafas, Khazanah

A double dose of potentially market-moving events arrives in the coming week as Americans vote on their next president and the Federal Reserve (Fed) offers more insight on the path of interest rates at its monetary policy meeting.

US election, Fed meeting loom in big week for markets

Elon Musk was dealt a significant setback in a court fight over his purge of Twitter Inc’s top executives when he took over the company in 2022.

Musk loses bid to dismiss ex-Twitter CEO’s severance lawsuit

Cooperation between Pakatan Harapan (PH) and Barisan Nasional (BN) should continue in the next general election following the political stability the country is currently enjoying.

Chevron Corp indicated potential US job cuts as part of a new cost-cutting plan.

The US$3 billion (RM13.14 billion) in targeted “structural” cost savings will come from asset sales, the use of new technology and workflow changes, chief executive officer Mike Wirth said during an interview. Chevron recently opened up a US$1 billion innovation hub in Bengaluru, India, which is hiring workers for engineering and digital services.

Chevron flags possible job cuts in US$3b cost plan

The auditor general has been empowered to conduct audits on the accounts of 1,856 other companies, including the government-linked companies (GLCs) which came into effect on Friday.

Leakages and wastage in government subsidies allocated to the people must be effectively addressed through accurate data and information provided by the Department of Statistics Malaysia (DOSM), said Prime Minister Datuk Seri Anwar Ibrahim.

British Prime Minister Keir Starmer promised reforms to speed up the economy and overhaul the public sector after the Labour government's first budget failed to boost the growth outlook and sent government bond prices into a two-day dive.

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TGI Fridays, an American casual dining chain, said on Saturday that it has filed for Chapter 11 bankruptcy protection after grappling with prolonged financial challenges and a collapsed deal with UK-based Hostmore.