<div class=newsTextDataWrapInner>KUALA LUMPUR (July 11): The India International Bank Bhd (IIBB), a joint venture by the Bank of Baroda, Indian Overseas Bank and Andhra Bank was launched today. IIBM aims to capture Indian business interests with Malaysia as the Indian Private Sector has five existing key investments in Malaysia. The bank will also take advantage of growing bilateral trade flows between the two countries, expected to be further fueled by the full implementation of the India-Malaysia Comprehensive Economic Cooperation Agreement. IIBM is expected to contribute the the Malaysian banking sector by facilitating trade and investment between the two countries, said Naimo Narain Meena, the Indian government's Union Minister of State for Finance.</div></div><div class=inPageAd id=div-gpt-ad-inpage>

KUALA LUMPUR (July 11): The India International Bank Bhd (IIBB), a joint venture by the Bank of Baroda, Indian Overseas Bank and Andhra Bank was launched today.  IIBM aims to capture Indian business interests with Malaysia as the Indian Private Sector has five existing key investments in Malaysia.  The bank will also take advantage of growing bilateral trade flows between the two countries, expected to be further fueled by the full implementation of the India-Malaysia Comprehensive Economic Cooperation Agreement.  IIBM is expected to contribute the the Malaysian banking sector by facilitating trade and investment between the two countries, said Naimo Narain Meena, the Indian government's Union Minister of State for Finance.

India International Bank launched 

An elderly voter from Kampung Sungai Buaya here was pleasantly surprised when a political campaign visit to his home for the Sungai Bakap by-election revealed that Pakatan Harapan (PH) candidate Dr Joohari Ariffin was an old acquaintance.

Che Dan Razak, 85, took a moment to study Joohari's campaign poster before realising that they knew each other from his days as an imam at Masjid Kampung Besar and teaching religious studies in Sungai Bakap.

Sg Bakap polls: Former imam delighted by unexpected reunion with Joohari

The US Supreme Court on Monday revived a North Dakota convenience store's challenge to a Federal Reserve regulation on debit card "swipe fees" in a ruling that could make it easier for businesses to try to undo longstanding federal rules.

Supreme Court 'swipe fees' ruling may open US regulations to more suits

Country Heights Holdings Bhd (KL:CHHB) said on Monday that it is working closely with the Malaysian Department of Insolvency (MDI) to resolve the winding-up of its indirect wholly-owned subsidiary Mines Waterfront Business Park Sdn Bhd (MWBP) and return it to solvent status.

Country Heights working to return Mines Waterfront Business Park to solvent status

Private equity firm Creador is threatening legal action against Meta if it does not take the issue of scammers seriously, as it slammed the social media giant for being too slow in taking down fraudulent posts from its platforms.

Creador threatens to sue Meta over scammer issue

A car hit pedestrians near Seoul city hall, killing six people and injuring at least eight, South Korea's Yonhap news agency reported, citing a police official, who said there could be more casualties.

A police official told Reuters officers were investigating at the scene, and declined to give further information.

Six dead after car driven into crowd outside Seoul city hall

US manufacturing contracted for a third straight month in June and a measure of prices paid by factories for inputs dropped to a six-month low amid weak demand for goods, indicating that inflation could continue to subside.

US manufacturing mired in weakness; prices paid gauge hits six-month low

Digital payment solutions provider PUC Bhd (KL:PUC) said it has entered into a deal to sell some of its software and intellectual property (IP) rights for RM22 million cash.

The group's subsidiary Presto Technology Sdn Bhd is disposing of the software and IP — which includes patents, copyrights and trade secrets — to G Solution Tech Sdn Bhd, according to PUC's filing on Monday.

PUC to dispose of software, IP rights for RM22 mil

Sarawak has no intention of seizing Petronas' rights; instead, it views the company as a partner in the national oil and gas (O&G) industry, says Sarawak Premier Tan Sri Abang Johari Tun Openg.

He said that all the initiatives taken by Sarawak in O&G industry, particularly through Petroleum Sarawak Bhd (Petros), are based on existing rights and laws.

Sarawak Premier reaffirms partnership with Petronas in O&G industry

A workers' union at Samsung Electronics in South Korea said on Monday it would launch a general strike until its demands for better pay and time off were met, warning of more damaging action against the country's most powerful conglomerate than its one-day walkout last month.

Samsung Electronics union in South Korea declares general strike

The chief executive officer of a highway concessionaire who was arrested by the Malaysian Anti-Corruption Commission (MACC) in connection with the alleged bribery involving highway contracts worth RM1.67 billion has been released on bail.

The CEO, who has a "Datuk" title, was released on Monday, a day before his extended eight-day remand order expires on Tuesday. Arrested last Monday, he was originally remanded till Friday, until an order was obtained from the court to extend his remand.

CEO of highway concessionaire arrested over RM1.67 bil contracts released on bail

Brokers are demanding cash upfront payments for the purchase of Artroniq Bhd (KL:ARTRONIQ), APB Resources Bhd (KL:APB), Notion VTec Bhd (KL:NOTION) and YNH Property Bhd (KL:YNH) shares.&nbsp;Artroniq and Notion VTec's warrants — Artroniq-WA and NOTION-WD — are also affected.

Brokers demand cash upfront from investors for Notion VTec, YNH, Artroniq and APB Resources

After three straight years of growth, domestic consumption for steel is expected to grow further this year, to between 8.3 million tonnes and nine million tonnes this year, according to a forecast by the Malaysian Iron and Steel Industry Federation (Misif).

Data centre boom, chip industry expansion expected to boost local steel demand

Axiata Group Bhd (KL:AXIATA) has appointed Amrit Kaur as its independent non-executive director effective July 1.

Axiata appoints new director to board

The federal government intends to issue a request for proposal (RFP) as an alternative approach for the RM3.46 billion Multi-Lane Free Flow (MLFF) project, said Deputy Works Minister Datuk Seri Ahmad Maslan.

This move aims to potentially reduce the project's costs, Ahmad said, adding that the ministry had already announced its intention to issue the RFP.

Putrajaya to issue RFP as 'Plan B' for RM3.5 bil multi-lane free flow project

Singapore Airlines Ltd chief executive officer Goh Choon Phong was paid S$8.11 million (RM28.2 million) last financial year, a 21% increase from the previous period, as the airline benefited from a travel boom.

Goh, who has been on the carrier’s board since 2010, had a base salary of S$1.44 million, up from S$1.1 million in 2022, according to the airline’s annual report published on Monday. Similar to in previous years, the majority of his pay comes in the form of bonuses and share awards.

Singapore Airlines’ CEO gets pay jump after record annual profit

Kenanga Research has maintained its “underweight” rating on the property sector and said the sector's headwinds remain aplenty, including oversupply, high household debt, elevated interest rates, and weakened consumer sentiment resulting from high inflation and rising living costs.

Property sector's headwinds remain aplenty, says Kenanga Research

Private equity firm Creador is threatening legal action against Meta if it does not take the issue of scammers seriously, as it slammed the social media giant for being too slow in taking down fraudulent posts from its platforms.

Kinergy Advancement Bhd (KL:KAB) has partnered with Johor Corp (JCorp) to undertake and develop sustainable energy solutions projects with a specific focus on energy-efficient initiatives for data centres.

The project encompassing energy-efficient measures, renewable energy solutions, clean energy initiatives, and engineering construction across various energy-related facilities, was secured by Kinergy Advancement’s wholly-owned subsidiary, KAB Energy Holdings Sdn Bhd.

Kinergy Advancement collaborates with JCorp to provide sustainable energy solutions for data centres

Bank Negara Malaysia (BNM) announced that Project Nexus, a multilateral platform that seeks to enhance cross-border payments, is ready to proceed to phase four, following the successful completion of its comprehensive blueprint in phase three.

BNM: Regional payment platform Project Nexus is preparing to go live

Any polemics related to the BlackRock issue linked to the Israeli regime could affect Malaysia's interests as a developing country, said Prime Minister Datuk Seri Anwar Ibrahim.

Speaking at the July monthly assembly of the Prime Minister's Department here on Monday, Anwar reminded everyone not to be "excessive" in discussing the controversial BlackRock issue.

Don't go overboard in debating BlackRock issue, think of country's interests — Anwar

Investment analysts foresee Malaysia’s banking sector to continue its upward momentum underpinned by ongoing loan growth and stabilising net interest margin (NIM), as well as the potential of higher net interest income (NII). &nbsp;

The banking sector will likely continue to benefit from ongoing loan growth, improved gross domestic product (GDP) along with better margin retention, according to Kenanga Research in its monthly highlight report on Monday. This will be overshadowing industry headwinds like inflationary pressure and weaker ringgit, it noted. &nbsp;

Banking sector poised for continued growth on ongoing loan expansion, stabilising NIM, higher NII — analysts 

ViTrox Corp Bhd (KL:VITROX) will begin construction of the first block of its planned five-block ViTrox Institute of Technology (VIT) on July 8 after it had appointed South Island Building Sdn Bhd (SIB) as the contractor for the project in a deal worth RM45.99 million.

ViTrox to begin construction of training and industrial research center after RM46 mil contract award to SIB

On May 1 this year, BlackRock Inc set up a multi-class investment firm in Saudi Arabia with an initial seed funding of US$5 billion (RM23.6 billion) coming from the kingdom’s Public Investment Fund (PIF).

BlackRock Riyadh Investment Management is mandated to attract additional overseas ...

Alternative Views: Cut the political semantics around the MAHB deal

An Opposition member of Parliament (MP) has called on the Ministry of Defence to clarify whether the Armed Forces Fund Board (LTAT) is in talks to sell the petrol station operator Boustead Petroleum Marketing Sdn Bhd (BHPetrol).

Opposition MP alleges LTAT in talks to sell BHPetrol to Saudi Aramco

Shares in Hiap Teck Venture Bhd (KL:HIAPTEK) rose in early trade on Monday, after the steel company reported better-than-expected third quarter results.

Hiap Teck shares rise in active trade after 3Q results beat expectation

World’s first independent airport lounge operator Plaza Premium Group (PPG) said on Monday that its Plaza Premium Lounge has bagged the world's best independent airport lounge at the World Airline Awards 2024.

Plaza Premium Lounge named world’s best independent airport lounge for eight years in a row

Sapura Energy Bhd said it has been “advancing its plan” to regularise its financial position since being classified as a Practice Note 17 (PN17) company and given time extension to come up with the plan.

Sapura Energy says 'actively developing' financial regularisation plan

Prime Minister Datuk Seri Anwar Ibrahim on Monday assured that the government will maintain the Bumiputera quota for Sijil Pelajaran Malaysia (SPM) holders to continue their studies at the matriculation level.

Govt assures Bumiputera quota for matriculation will remain unchanged — Anwar

Mah Sing Group Bhd (KL:MAHSING) topped out both towers of M Arisa, its affordable residential development in Sentul. The project is slated to be completed by 4Q2024 with construction currently at around 85% completed.

Mah Sing tops out M Arisa in Sentul

The Ministry of Investment, Trade, and Industry (Miti) is working with the Construction Industry Development Board (CIDB) and the Works Ministry to explore ways to enforce a more stringent localisation programme for government construction projects, as one of the ways to address the issue of overcapacity faced by the iron and steel industry.

“The iron and steel industry is a very important yet delicate industry that requires a lot of attention from policy makers. The iron and steel industry is heavily influenced by global factors. Policy changes or market trends in China or the US would have a huge 'butterfly effect' on the profitability or even survival of the Malaysian steel industry,” said Deputy Investment, Trade and Industry Minister Liew Chin Tong.