EIGHTEEN months after its decision to abandon the single wholesale network (SWN) structure and transition to a dual 5G network, Malaysia sprang yet another surprise by selecting U Mobile Sdn Bhd, the third and smallest of the three bidders that qualified, for the coveted second 5G spectrum bid on...

Cover Story: Untangling the second 5G network puzzler 

AMONG the surprises sprung by Budget 2025 were the silence on the previously planned high value goods tax (HVGT) on luxury goods and that avocado and salmon would be among “non-essential items” and “imported premium goods” taxed under the expanded sales and service tax (SST) from May 1, 2025....

The State of the Nation: Is the expanded SST the new GST?

A new three-letter (bad) word continues to be hotly debated more than a week after the tabling of Budget 2025 — not the demonised goods and services tax (GST) but “T15” — individuals in the top 15% income group being equated with the maha kaya (ultra rich) who will soon have to pay more for salmo...

The State of the Nation: Setting the record straight on T15 and progressive taxes

LIVING up to his reputation as a skilled orator, Prime Minister Datuk Seri Anwar Ibrahim not only cited from the Quran when tabling Budget 2025 in Malay on Oct 18 but also used words of wisdom in Chinese (¤@¦A [yi cuo zai cuo] to refer to the fatal mistake of continuing down the wrong path) and a...

Cover Story: The State of the Nation - Changing the narrative on taxes and subsidy reforms under the Madani administration

CelcomDigi Bhd said it is “considering several options at hand” on 5G without naming them, after the government picked U Mobile Sdn Bhd to lead Malaysia’s second 5G network.

CelcomDigi weighing ‘several options’ on 5G without mentioning stake in U Mobile, DNB

MALAYSIA expectedly raised 2024 economic growth projections to between 4.8% and 5.3% and signalled the potential for further expansion next year. Gross domestic product (GDP) is forecast to grow between 4.5% and 5.5% for 2025, “anchored by the implementation of outlined strategic initiatives” und...

The State of the Nation/Economic Report: Malaysia projects higher GDP growth, tables record-sized Budget 2025 with promise  of more tax and subsidy reforms from mid-2025

CelcomDigi Bhd (KL:CDB) CEO Datuk Idham Nawawi plainly admits that the group prefers to lead the second 5G network rather than take over the existing 5G network under state-owned Digital Nasional Bhd (DNB) when Malaysia transitions to a dual network model for 5G versus a single wholesale network ...

Why CelcomDigi prefers to lead second 5G network

COMING to two years since completing its merger that gave it the No 1 spot among Malaysian listed telecommunications companies and a wide market share lead versus rivals, CelcomDigi Bhd (KL:CDB) CEO Datuk Idham Nawawi says the group is reaping merger synergies and economies of scale, but admits m...

CelcomDigi says merger synergies target ‘on track’ despite revised 2024 guidance

Go here for all about Budget 2025

MALAYSIA’s Budget 2025, themed “Madani Economy: Negara Makmur, Rakyat Sejahtera” to be tabled on Oct 18, was originally slated for a week earlier on Oct 11, the day Prime Minist...

The State of the Nation: What Anwar’s Budget 2025 could look like

AS an international hub and a small country, Singapore is always looking out for talent and constantly evaluating and nudging its pool based on investment trends and economic needs to ensure relevance, says Zaqy Mohamad, the city state’s senior minister of state, Ministry of Defence and Ministry ...

Foresight, ‘kiasuism’ in manpower planning

A weekly round-up of tanker and dry bulk market (Nov 22, 2024)

Baltic Exchange shipping updates: Nov 22, 2024

Here is a brief recap of some corporate announcements that made the news on Friday.

Allianz Malaysia, Bumi Armada, Bintulu Port, D&O, Sarawak Plantation, Favelle Favco, CSC Steel, BM Greentech, SkyWorld, Lagenda Properties, Solarvest, SMI, Icon Offshore, Top Glove, MNRB, Chin Hin Group Property

The S&P 500 and the Dow touched over one-week highs on Friday after data showed a still robust economy, while small-cap stocks outperfomed large-cap indexes.

The S&P flash PMI showed manufacturing activity stood at 48.8 in November, in line with estimates from a Reuters poll of economists.

S&P 500, Dow touch over one-week highs after business activity data

Vizione Holdings Bhd (KL:VIZIONE) said its unit has served a notice to Inspirasi Langkawi Sdn Bhd to terminate its employment as main contractor for the development of a 14-storey hotel in Langkawi, claiming it had not been properly paid for its works so far.

Vizione quits RM116 mil hotel construction job over alleged unpaid works

A measure of US business activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies from President-elect Donald Trump's administration next year.

US business activity gauge rises to 31-month high in November

Global investment conglomerate Bin Zayed International Group of Companies (BZI) has committed to investing US$2 billion (RM8.93 billion) in Malaysia over the next five years. 

Bin Zayed International (M) Bhd managing director Datuk Seri Dr Shamir Kumar Nandy said as part of its strategic expansion plan, the group would tap into real estate, renewable energy and financial services to attract investments into the country.

Bin Zayed International commits US$2 bil investment in Malaysia over next five years

Property developer SkyWorld Development Bhd (KL:SKYWLD), which made its Main Market debut in July last year, said it is on target to launch developments with an estimated gross development value of RM4.6 billion by 2026, having achieved RM1.1 billion worth of launches so far.

SkyWorld nears deal for Vietnam joint venture on completion of due diligence, says on track for RM4.6b launch target by 2026

Lagenda Properties Bhd (KL:LAGENDA) said on Friday that an indirectly owned subsidiary of the company has secured the right to develop a 139-acre land in Kota Tinggi, Johor, for RM99.62 million, cash. The final purchase price may still vary.

Lagenda Properties secures right to develop another Kota Tinggi plot for RM99.62 mil

The flood situation in Terengganu and Perak has grown worse, while Kelantan has become the latest state hit by floods as of 8pm on Friday night.

In Terengganu, the number of evacuees rose drastically to 221 people being housed in 10 relief centres compared to 29 in the morning.

Floods worsen in Terengganu, Perak while Kelantan latest state hit

Loss-making Classita Holdings Bhd (KL:CLASSITA) is mulling diversifying into the property investment business as it foresees growing demand.

Lingerie maker Classita to diversify into property investment

Affin Bank Bhd (KL:AFFIN) on Friday cut some of its key financial expectations for the full year even as net profit surged in the third quarter, as the company continues efforts to improve profitability.

Affin Bank cuts key expectations even as 3Q net profit surges

Top Glove Corp Bhd (KL:TOPGLOV) has entered into a joint venture (JV) with US glove importer Tronex (Asia) Ltd, and Polywel International Trade Co Ltd for the production and distribution of high-density polyethylene (HDPE) gloves.

Top Glove in JV for high density polyethylene glove biz

Sunway Bhd (KL:SUNWAY) became the best performing constituent member of the FBM KLCI index year to date after its share price breached the RM5 mark on Friday, ahead of its third-quarter (3Q) earnings announcement expected next week. &nbsp;

Sunway is best FBM KLCI constituent YTD after shares shoot past RM5

KUALA LUMPUR (Nov 22): Hong Kong-based energy services firm Unity Group Holdings International Ltd said it is planning a secondary listing in Malaysia.

Hong Kong-based Unity Group pursues secondary listing on Bursa Malaysia

Malaysia's international reserves rebounded and added about US$400 million (RM1.79 billion) by the middle of November.

Malaysia's foreign exchange reserves rebounded to US$118b in mid-November, BNM data show

Mah Sing Group Bhd's (KL:MAHSING) M Luna condominium development in Kepong has achieved a Qlassic score of 86%, the highest for an M Series project, according to a press statement on Friday.

Mah Sing's M Luna condo in Kepong achieves 86% Qlassic score

KUALA LUMPUR (Nov 22): Master Builders Association Malaysia (MBAM) supports the Construction Industry Development Board (CIDB) Malaysia’s decision to retract its quality guidebook for homeowners, said MBAM president Oliver HC Wee.&nbsp;

MBAM supports CIDB’s decision to retract quality guidebook for homeowners

Offshore oil-and-gas services firm Bumi Armada Bhd (KL:ARMADA) said on Friday its third quarter net profit rose 19% from a year earlier as operating margins expanded with lower costs.

Bumi Armada's 3Q net profit rises 19%, no update on merger with MISC's offshore unit

Analysts are projecting a stronger showing from Sunway Construction Group Berhad (KL: SUNCON) in 4Q2024, driven by significant job progress, especially data centre (DC)-led projects.

Analysts expect stronger 4Q for Sunway Construction

Solarvest Holdings Bhd (KL:SLVEST)’s wholly owned subsidiary Atlantic Blue Sdn Bhd has been awarded a RM142 million engineering, procurement, construction and commissioning (EPCC) contract from SM01 Sdn Bhd, a special purpose vehicle (SPV) in which the group owns a 33% stake.

Solarvest bags RM142 mil EPCC job for 30MWac solar plant in Kedah

Malaysia’s Anti-Corruption Commission (MACC) said on Friday it will continue to investigate the late Tun Daim Zainuddin, his wife and other family members.

MACC says will continue to investigate late Daim, wife, family members

Buyout firm Affinity Equity Partners is in talks to acquire Malaysian seafood supplier Golden Fresh Sdn Bhd, according to people familiar with the matter.

Affinity is said to be in talks to buy Malaysian seafood supplier Golden Fresh, Bloomberg reports

KUALA LUMPUR (Nov 22): Chin Hin Group Property Bhd (KL:CHGP)&nbsp;has established a RM500 million perpetual notes programme.&nbsp;

Chin Hin Group Property establishes RM500m perpetual notes programme

The largest shareholder of South Malaysia Industries Bhd (KL:SMI) has called for an upcoming extraordinary general meeting (EGM) scheduled for Jan 9, 2025, to appoint six new directors to the company’s board, including former Perak police chief Datuk Pahlawan Mior Faridalathrash Wahid.

SMI's largest shareholder calls for EGM to appoint six new directors including ex-Perak police chief

Sarawak Plantation Bhd (KL:SWKPLT) has announced a second interim dividend of 15 sen per share, as its latest third quarter net profit rose 14.6%, despite lower revenue, thanks largely to a higher fair value gain on its biological assets.

Sarawak Plantation pays bumper 15 sen dividend as 3Q profit hits record

India will offer up to US$5 billion (RM22.4 billion) in incentives to local electronics companies to make components for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.

India to offer up to US$5b in incentives to local electronics firms, wean off China

Thailand’s Constitutional Court dismissed a complaint against former premier Thaksin Shinawatra and his-family backed ruling party, a major reprieve for his daughter’s less than three-month old government.&nbsp;

Thai court rejects case against Thaksin in reprieve for PM 

GEORGE TOWN (Nov 22): Frequent water supply disruptions, high industrial land prices&nbsp;and talent shortages are among challenges faced by the Penang&nbsp;government in its effort to position the state as the Silicon Valley of the East.

Chow: Water supply disruptions, land prices among challenges in Penang’s Silicon Valley ambitions

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EVENING 5: Five things you need to know today

Global investment conglomerate Bin Zayed International Group of Companies (BZI) has committed to investing US$2 billion (RM8.93 billion) in Malaysia over the next five years.&nbsp;

Bin Zayed International (M) Bhd managing director Datuk Seri Dr Shamir Kumar Nandy said as part of its strategic expansion plan, the group would tap into real estate, renewable energy and financial services to attract investments into the country.

Cindy Yeap

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