<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'

Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.

SimeProp, Yinson Holdings, T7 Global, Pesona Metro Holdings, Datasonic Group, Willowglen MSC, CapitaLand Malaysia Trust, Annum Bhd, Sunway Bhd

US manufacturing activity improved in November, with orders growing for the first time in eight months and factories facing significantly lower prices for inputs.

US manufacturing improves in November as orders rebound, input price gains slow

The S&P 500 and the Nasdaq gained on Monday, with the benchmark index briefly hitting a record high boosted by technology stocks, while investor focus remained on a slew of economic data this week.

S&P 500, Nasdaq climb on tech boost; focus remains on data

Greece isn’t planning to impose any extraordinary tax on its banks, according to people familiar with the matter.

Prime Minister Kyriakos Mitsotakis conveyed that message at an event in London on Monday hosted by Morgan Stanley and the Athens Stock Exchange, the people said, speaking on condition of anonymity because the conversation was private.

Greece says it has no plans for extra tax on banks

Donald Trump’s fresh pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say.

The dollar looks likely to dominate the world economy for the foreseeable future and emerging nations’ idea of setting up their own single currency is “hot air”, said Mark Sobel, a retired 40-year veteran of currency policy who worked at the US Treasury.

Trump weaponising dollar seen as needless BRICS provocation

Property developer Encorp Bhd (KL:ENCORP) announced on Monday that it has removed its group chief executive officer, Hazurin Harun, with immediate effect following an internal investigation by the board of directors.

Encorp fires CEO after internal probe linked to MACC charge

Intel chief executive Pat Gelsinger has stepped down less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement.

Intel CEO Pat Gelsinger steps down from struggling chipmaker

France’s government offered a final-hour concession to Marine Le Pen on the 2025 budget, seeking to avoid being ousted from power in a no-confidence vote that would plunge the country into financial and political uncertainty.

French premier offers final-hour budget concession to Le Pen

EVENING 5: MRT Corp begins tender process for Penang LRT

EVENING 5: Five things you need to know today

THERE has been a noticeable rise in the number of companies declaring special dividends since Budget 2025 was tabled in parliament in October. Market observers believe that the rush to pay out special dividends is likely due to the 2% tax on individuals with dividend income exceeding RM100,000 an...

Special dividends on the rise with dividend tax looming

Mass Rapid Transit Corp Sdn Bhd (MRT Corp) is inviting local and foreign companies to participate in the tender for the Penang Light Rail Transit (LRT) Mutiara Line project, which the federal government has allocated RM10 billion for.

MRT Corp begins tender process for Penang LRT contractor

The US will launch on Monday its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies including chip equipment maker Naura Technology Group, among other moves, said two people familiar with the matter.

Latest US strike on China's chips hits semiconductor toolmakers

KUALA LUMPUR (Dec 2): Pensioners and army veterans have asked Prime Minister Datuk Seri Anwar Ibrahim to look into their plight, especially those who retired before 2013, as they are receiving less pension over the years, owing to the Pensions Adjustment (Amendment) Act 2013 (PAA 2013), which the courts have declared as being unconstitutional, but no action has been taken as yet by the government to set the matter right.

Are pensioners of ‘lower status’ than judges, ask pensioners and army vets, who want the PM to look into their plight, too

Late last week, cash-strapped Practice Note 17 (PN17) counter Sapura Energy Bhd (KL:SAPNRG) announced that both its chairman Datuk Mohammad Azlan Abdullah and group CEO and executive director Datuk Mohd Anuar Taib were resigning due to “other personal commitments” and “personal endeavours” respec...

Frankly Speaking: Uncertain times again for Sapura Energy

Sunway Bhd (KL:SUNWAY) founder and executive chairman Tan Sri Jeffrey Cheah Fook Ling, and his private vehicle Sungei Way Corp Sdn Bhd, have sold a combined total of 100 million shares in the diversified company for RM485 million or RM4.85 per share.

Jeffrey Cheah, private vehicle offload 100 mil shares in Sunway for RM485 mil

THE FBM KLCI is highly likely to end the year in the positive zone — the first time after three consecutive years of closing lower, barring any unforeseen circumstances that may unfold before the countdown to the new year.

Year to date, the benchmark index has risen almost 10%, although...

Is 1,700-level a reachable target for FBM KLCI?

Malaysia has urged Chinese companies to refrain from using it as a base to "rebadge" products to avoid US tariffs, its deputy trade minister said on Monday, amid increasing export restrictions and concerns of a US-China trade war.

Malaysia urges firms from China to avoid using it to dodge US tariffs

Former prime minister Datuk Seri Najib Razak said he was “extremely prejudiced [against]” by the Malaysian Anti-Corruption Commission's (MACC) investigations into him in the 1MDB scandal, and said that it was akin to “blindfolding” him in a “fistfight”.

Anwar should understand, says Najib, claiming that he was metaphorically blindfolded and punched by MACC investigations

A total of RM10.78 billion had been withdrawn from the Employees Provident Fund's (EPF)&nbsp;Flexible Account (Account 3) as of the end of September, according to the Finance Ministry (MOF).

In a written parliamentary response to Wan Saiful Wan Jan (Perikatan Nasional-Tasek Gelugor), the MOF said that the withdrawals were made by 3.86 million EPF members, representing 29.4% of those below the age of 55.

Nearly RM11b withdrawn from EPF Account 3 as of end-Sept — MOF

The Monetary Authority of Singapore (MAS) has imposed a civil penalty of S$2.4 million (RM8.0 million) on JPMorgan Chase Bank for failing to prevent and detect misconduct committed by its relationship managers (RMs).

Singapore fines JPMorgan Chase for failing to detect relationship managers' misconduct

Despite reporting a significant year-on-year (y-o-y) jump in earnings, analysts have cut their earnings forecasts for Velesto Energy Bhd (KL:VELESTO),&nbsp;citing a challenging outlook for the company's rigs in the coming year.

Analysts downgrade Velesto Energy amid weaker charter rates, utilisation ahead

Shares in Johor-based logistics provider Xin Hwa Holdings Bhd (KL:XINHWA) fell to their lowest on Monday, despite announcing that its cargo transport unit's goods transport licence suspension is set to be lifted a month ahead of schedule.

Xin Hwa shares fall to record low despite early suspension lift of cargo transport unit’s licence

KUALA LUMPUR (Dec 2): Former prime minister Datuk Seri Najib Razak said that the inception of 1Malaysia Development Berhad’s (1MDB) former iteration, the Terengganu Investment Authority (TIA), was the brainchild of former Yang Di-Pertuan Agong Sultan Mizan Zainal Abidin and fugitive businessman L...

1MDB-Tanore: TIA was the brainchild of Sultan Mizan, Jho Low and Tun Badawi — I had no vested interest, claims Najib

Majuperak Holdings Bhd (KL:MJPERAK), a 51.41%-owned subsidiary of the Perak State Development Corp, announced on Monday the appointment of Muhammad Yazurin Sallij Muhammad Yasin as its new chief executive officer (CEO).

Majuperak names Rapid Bus’ Muhammad Yazurin as its new CEO

Datuk Seri Najib Razak told the court on Monday that he was "left speculating" on what specific personal interest was related to the first abuse of power charge he faces in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.

1MDB-Tanore: Najib says still left speculating on what his personal interest is in abuse of power charge

Intel chief executive Pat Gelsinger has stepped down less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement.

Former prime minister Datuk Seri Najib Razak has maintained that funds at the heart of the 25 charges he faces in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial were donations from the Middle East.

1MDB-Tanore: Najib maintains belief that funds were donations

Construction and trading group Pesona Metro Holdings Bhd (KL:PESONA) has secured a RM181.8 million contract for the construction of two blocks of 28-storey condominiums&nbsp; in Cyberjaya.

The developer of the project, comprising 606 units of condominiums on Persiaran Semarak Api in Cyber 11, is Lakefront Residence Sdn Bhd, a wholly-owned subsidiary of Avaland Bhd (KL:AVALAND), said Pesona Metro in a bourse filing on Monday.

Pesona Metro bags RM182m condo construction job in Cyberjaya

Datasonic Group Bhd (KL:DSONIC) has clinched two contract extensions worth a combined RM81.24 million from the Home Ministry.