<div class=newsTextDataWrapInner>SINGAPORE (Nov 5): Singapore’s retail sales activity remained in the red in September, widening from the contractions registered in the previous months.</div>

<div class=newsTextDataWrapInner>The total retail sales value plunged 10.8% year-on-year in September, making this the metric’s seventh consecutive month of decline. It is also a larger fall from the 5.7% contraction registered in August, data released by the Department of Statistics (Singstat) on Nov 5 revealed.&nbsp;</div>

<div class=newsTextDataWrapInner>The poorer poor performance comes from poorer sales of mobile phones compared to the high base in September 2019 when there were new mobile phone launches, Singstat notes.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>For the full story, visit <a href="https://www.theedgesingapore.com/news/singapore-economy/decline-singapores-retail-sales-deepens-september-lower-mobile-phone-sales" target="_blank">www.theedgesingapore.com</a>.</div>

Singapore’s retail sales activity remained in the red in September, widening from the contractions registered in the previous months.

Decline in Singapore's retail sales deepens in September on lower mobile phone sales

Incoming US President Donald Trump’s transition team is recommending sweeping changes to cut off support for electric vehicles (EVs) and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters.

Trump transition team plans sweeping rollback of Biden's EV, emissions policies

Gamuda Bhd's (KL:Gamuda) Australian subsidiary DT Infrastructure Pty Ltd has secured a A$625 million (RM1.8 billion) engineering, procurement and construction (EPC) job for the Goulburn River Solar Farm project.

Gamuda's Australian unit bags RM1.8 bil EPC job for Goulburn River Solar Farm

The Social Security Organisation (Socso) and the Malaysian Aviation Commission (Mavcom) on Monday signed a Memorandum of Understanding (MoU) to facilitate the exchange of information regarding the statutory obligations of aviation service providers.

Socso chief executive officer Datuk Seri Dr Mohammed Azman Aziz Mohammed said the collaboration aims to ensure that employers and employees in the aviation industry are registered and contributing under the Social Security Act 1969 (Act 4) and the Employment Insurance System Act 2017 (Act 800).

Socso and Mavcom ink MOU to strengthen aviation sector compliance

Alibaba Group Holding Ltd is nearing a deal to sell its department store business to Youngor Fashion Co for around US$1 billion (RM4.45 billion), according to people familiar with the matter.

Alibaba close to selling Intime to Youngor Fashion for US$1 bil — Bloomberg

The shareholders of precision cleaning and surface treatment service provider MClean Technologies Bhd (KL:MCLEAN) have approved the company’s plan to diversify into plastic injection moulding and undertake a private placement.

MClean's shareholders approve firm's diversification into plastic moulding

The National Higher Education Fund Corp (PTPTN) expects dividends for its Simpan SSPN savings plan to increase in 2024, buoyed by improved investment performance and strategic fund management.

PTPTN sees better SSPN dividends amid stronger investment returns

(Dec 16): The Federal Reserve is likely to signal a slower future pace of easing when it meets later this week and then skip cutting interest rates in January, according to Goldman Sachs Group Inc. economists.

While the US bank sees policymakers still delivering a 25 basis-point re...

Goldman Sachs economists see Fed skipping a rate cut in January

Exchange operator Nasdaq is on track to beat the New York Stock Exchange on listings for the sixth straight year in 2024, as Wall Street looks for a bumper crop of initial public offerings in 2025.

Nasdaq tops NYSE in listings for sixth straight year as IPO optimism grows

KUALA LUMPUR (Dec 16): Proton's first electric vehicle (EV), the e.MAS 7, will be the official car for Malaysia's Asean Chairmanship in 2025, Prime Minister Datuk Seri Anwar Ibrahim unveiled on Monday.

He said Malaysia hopes to set an example in this region in promoting the development ...

e.MAS 7 to be Asean 2025 official car — Anwar

France’s new Prime Minister Francois Bayrou’s meeting with Marine Le Pen on Monday left the far-right leader “more positive” on his method, even if she said it wasn’t clear yet if the talks were useful.

Le Pen ‘more positive’ on method after meeting Bayrou 

KUALA LUMPUR (Dec 16): TNG Digital Sdn Bhd urges users to verify their TNG eWallet accounts for better security, according to its statement on Monday.

TNG Digital urges users to complete acct verification via eKYC tech from Dec 20

YTL Power International Bhd's (KL:YTLPOWR) data centres are well on track, with the second phase of 8MW under Johor Data Centre 1 (JDC1) expected to come online by end-2024, according to MIDF Research.

MIDF Research: YTL Power on track to deliver data centres, with second 8MW under Johor Data Centre 1 to come online by year end

TopVision Eye Specialist Bhd (KL:TOPVISN) ended its first day of listing on the ACE Market on Monday with a 3% rise from its initial public offering (IPO) price of 33 sen.

TopVision closes 3% above IPO price on ACE Market debut

KUALA LUMPUR (Dec 16): Shares in Supermax Holdings Bhd (KL:SUPERMX) rose to their highest in nearly three years in active trade on&nbsp;Monday morning, amid US’ efforts to boost nitrile-glove production there.

Supermax climbs to three-year high on active trade 

Gamuda Bhd's (KL:Gamuda) Australian subsidiary DT Infrastructure Pty Ltd has secured a A$625 million (RM1.8 billion) engineering, procurement and construction (EPC) job for the Goulburn River Solar Farm project.

DRB-Hicom Bhd (KL:DRBHCOM) said has inked memoranda of understanding (MOU) with two government bodies, namely with Malaysian Investment Development Authority (Mida) and Malaysia Automotive, Robotics and IoT Institute (MARii) to promote the enhancement and transformation of Malaysia’s automotive industry in the Automotive Hi-Tech Valley (AHTV) project in Tanjung Malim, Perak.

DRB-Hicom, Geely ink MOUs with Mida, MARii to spearhead next-gen vehicle production in Tanjung Malim

Shares around the world nudged lower on Monday on soft economic numbers from China and Europe and as surging bond yields challenged equity valuations, at the start of a week packed with central bank meetings and major economic data.

Markets wary of Fed rate plans, China retail disappoints

KUALA LUMPUR (Dec 16): The High Court here has ordered former prime minister Tan Sri Muhyiddin Yassin to pay RM400,000 to DAP chairman Lim Guan Eng by year’s end, and the remaining RM1 million by Jan 27 next year.&nbsp;

High Court orders Muhyiddin to pay RM400k to Guan Eng by year’s end, and balance RM1m by Jan 27

KUALA LUMPUR (Dec 15): The International Monetary Fund (IMF) has commended Malaysia’s economic reforms, notably the introduction of the Public Finance and Fiscal Responsibility Act (FRA) 2023, and the successful implementation of electricity and diesel subsidy reforms.&nbsp;

IMF credits Malaysia’s economic reforms, calls for further action to strengthen resilience

The International Monetary Fund (IMF) has assessed Malaysia's current monetary policy stance as appropriate but emphasised that Bank Negara Malaysia has to be ready to tighten policy in 2025 amid inflation risks.

IMF: Malaysia's neutral monetary policy 'appropriate' but brace for inflation risks in 2025

Malaysian autos firm Proton launched its first electric vehicle on Monday, the latest entry into the local market as the country seeks to boost EV and hybrid EV use and gain a foothold in the global supply chain.

Proton launches its first electric vehicle

TRX City Sdn Bhd, master developer of the 70-acre Tun Razak Exchange (TRX), is going to build another office tower, which is expected to have a net lettable area (NLA) of 800,000 sq ft. The new building will be on Lot C7-10, which is adjacent to HSBC Malaysia’s headquarters, Menara IQ.

...

TRX City to build another office block, secures PwC as anchor tenant

Grab Holdings Ltd’s ability to cut costs and edge out rivals in Southeast Asia’s ride-hailing arena helped push its share performance above global peers this quarter, with some analysts citing further gains ahead.

Grab stock’s big quarter has some analysts seeing further gains

THE Home Ministry is believed to have awarded Datasonic Group Bhd (KL:DSONIC) a new five-year contract for the supply of Malaysian passports. This is the first contract renewal since November 2021, when the original contracts expired.

According to sources privy to the deve­lopment, the ...

Datasonic finally secures new contract for Malaysian passports, say sources

KUALA LUMPUR (Dec 16): Yinson Holdings Bhd (KL:YINSON), whose share price dropped nine sen in the morning session on Monday, is expected to see strong earnings ahead, as it gears up to deliver multiple major floating production storage and offloading (FPSO) units, with new opportunities on the horizon, said analysts.&nbsp;

Yinson poised for strong earnings growth amid major FPSO deliveries, say analysts

China's industrial output growth quickened slightly in November, while retail sales disappointed, keeping pressure on Beijing to ramp up stimulus for a fragile economy as it braces for more US trade tariffs under a second Trump administration.

China's weak consumption drags on economy as Trump tariff threat looms

TOKYO/SINGAPORE (Dec 16): Bitcoin&nbsp;surged to a record high above US$106,000 (RM472,523) on Monday, after President-elect&nbsp;Donald Trump&nbsp;suggested he plans to create a US&nbsp;bitcoin&nbsp;strategic reserve&nbsp;similar to its strategic oil reserve, stoking the enthusiasm of&nbsp;crypto&nbsp;bulls.

Bitcoin surges above US$106,000 on strategic reserve hopes

Indonesia’s largest party has officially expelled former president Joko Widodo after he spurned the party’s own candidate in February elections and backed Prabowo Subianto’s successful campaign to become leader of Southeast Asia’s biggest economy.

Indonesia’s largest party expels Jokowi after he backed Prabowo

Offshore marine service provider Perdana Petroleum Bhd (KL:PERDANA) has secured a charter contract for an anchor handling tug and supply (AHTS) vessel from IPC Malaysia BV.

Perdana Petroleum secures anchor handling tug and supply vessel charter contract

Ningbo Deye Technology Co, a Chinese inverter producer, plans to invest up to US$150 million (RM667.5 million) in building a solar equipment manufacturing base in Malaysia.