Funding Societies Malaysia said it has successfully disbursed RM300 million in Islamic business financing to more than 2,500 micro, small, and medium enterprises (MSMEs) since launching its comprehensive suite of Islamic products in June 2023.

Funding Societies has disbursed more than RM300 mil in Islamic business financing

KUALA LUMPUR: Their whereabouts may not be known, but Low Taek Jho (Jho Low) and four of his closest Malaysian associates were slapped in absentia with criminal breach of trust (CBT) and money laundering charges involving US$1.3 billion (RM5.4 billion) yesterday by the Attorney-General’s Chambers...

Jho Low charged over US$1b received by Good Star

KUALA LUMPUR: CIMB Group Holding Bhd said it is closing its offices in Sydney and Melbourne as it no longer believes its operation Down Under is profitable.

“We no longer believe that our Australian operations can be profitable given the minimum cost of operating in the market and dwind...

CIMB to shut its Australian offices

Meta CEO Mark Zuckerberg made a key concession at a US antitrust trial on Tuesday, saying he bought Instagram because it had a "better" camera than the one his company was trying to build for flagship app Facebook at the time.

At US antitrust trial, Meta's Zuckerberg admits he bought Instagram because it was 'better' 

Fraser & Neave Holdings Bhd (KL:F&N) marked a milestone with its first batch of 2,500 dairy heifers from Chile at its integrated dairy farm in Gemas, Negeri Sembilan.

F&N's first batch of 2,500 Chilean dairy cattles arrives in Gemas farm

OpenAI is working on its own X-like social media network, the Verge reported on Tuesday, citing multiple sources familiar with the matter.

OpenAI is working on X-like social media platform — report

Canadian Prime Minister Mark Carney said his government will allow automakers to import US-manufactured cars and trucks without tariffs, as long as the companies keep making vehicles in Canada.

Canada scraps tariffs for automakers that keep plants running

US importers looking to sidestep Trump administration tariffs are desperately seeking space in a type of warehouse that lets them stash merchandise for as long as five years without paying duties.

Trump trade war sparks run on US warehouses with tariff loophole

US consumer spending has benefited from strong wage growth and low unemployment so far, but it faces huge risks, bank executives warned, if the upheaval sparked by President Donald Trump's trade policy persists.

US banks flag risks to consumer spending from tariff policy uncertainties

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

Petronas Gas, RHB Bank, Lien Hoe, Mayu Global, Binastra, Skygate, Tomei, Binasat, Aurelius Technologies, Kerjaya Prospek, Scope Industries, Keyfield International, Bank Rakyat

Apple's main India suppliers Foxconn and Tata shipped nearly US$2 billion (RM8.83 billion) worth of iPhones to the US in March, an all-time high, as the US company airlifted devices to bypass President Donald Trump's impending tariffs, customs data shows.

Apple airlifted iPhones worth a record US$2 bil from India in March as Trump tariffs loomed

LONDON (April 15): European credit ratings agency Scope has warned that the United States could be downgraded if a lengthy trade war erodes long-term trust in the dollar, or if President Donald Trump implements even more extreme measures such as capital controls.

The fallout from Trump'...

European rating agency Scope sends US downgrade warning

The first phase of the 2025 PKR election, involving the Angkatan Muda Keadilan (AMK) and Women's Division levels, has been completed. 

The party polls were held in seven states from last Friday to Sunday, said Party Election Committee (JPP) chairperson Datuk Seri Dr Zaliha Mustafa.

First phase of PKR election completed, focus shifts to second phase — Zaliha

China hopes to begin another “50 golden years” in its bilateral relations with Malaysia, said President Xi Jinping, as he begins his three-day visit here for the first time in 12 years as part of his Asean tour.

China sees another ‘50 golden years’ with Malaysia, says Xi

RHB Bank Bhd (KL:RHBBANK),&nbsp;the country's fourth-largest lender by assets, has been named as the third defendant in a RM313.08 million lawsuit filed by Prismaworld Embassyview Sdn Bhd in the Kuala Lumpur High Court.

RHB confirms named as defendant in RM313m Taman U-Thant suit, to contest claims

The restoration of gas supply in Putra Heights, Subang Jaya — where a massive blaze took place two weeks ago after a pipeline leak — is currently estimated to take place no earlier than July 1, said Petronas Gas Bhd (KL:PETGAS).

Gas supply restoration in Putra Heights expected by July 1 at the earliest, says Petronas Gas

Chinese President Xi Jinping arrived in Malaysia on Tuesday for a three-day state visit at the invitation of the King,&nbsp;Sultan Ibrahim Sultan Iskandar.

China's Xi arrives in Malaysia for three-day state visit

China is "tearing down walls" and expanding its circle of trading partners, "shaking hands" instead of "shaking fists", its foreign ministry said on Tuesday, as Beijing works on diversifying ties amid an escalating trade war with the US.

China says it is 'tearing down walls' to expand trade alliances amid US stand-off

Signature Alliance Group Bhd, a subsidiary of kitchen and wardrobe maker Signature International Bhd (KL:SIGN), has secured M&amp;A Securities Sdn Bhd and Affin Hwang Investment Bank Bhd as the underwriters for its initial public offering on the ACE Market of Bursa Malaysia.

M&A Securities, Affin Hwang to underwrite Signature Alliance Group's IPO

Investor sentiment regarding economic prospects is the most negative in three decades, yet fund managers’ pessimism isn’t fully reflected in their asset allocation which could mean more losses for US stocks, a Bank of America Corp survey shows.

Investors haven’t been this bearish in 30 years, BofA poll shows

Lien Hoe Corp Bhd (KL:LIENHOE) announced that its audited accounts for the financial year ended Dec 31, 2024 (FY2024) raised a material uncertainty related to its ability to continue as a going concern, according to its independent auditors, UHY Malaysia PLT.&nbsp;

Lien Hoe’s independent auditors raise going concern doubts following FY2024 audit

Former 1Malaysia Development Bhd (1MDB) CEO Arul Kanda Kandasamy said it was within his rights to comment publicly about the company in 2018, even when he was on garden leave.

Arul Kanda denies breaching 1MDB duty with public remarks

Honda is considering switching some car production from Mexico and Canada to the United States, aiming for 90% of cars sold in the country to be made locally in response to new US auto tariffs, the Nikkei newspaper reported on Tuesday.

Honda to make 90% of US sales locally by relocating Mexico, Canada production — report

Bank Rakyat has appointed Ahmad Shahril Mohd Shariff as its new chief executive officer (CEO), effective April 9.

Ahmad Shahril has been serving as the acting CEO of the bank since Nov 9, 2024, following the resignation of Datuk Mohammad Hanis Osman, who held the top job for nearly three years from July 2022.

Ahmad Shahril appointed as Bank Rakyat CEO

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

Binasat Communications Bhd (KL:BINACOM) said a RM13.2 million civil works contract involving a high-voltage substation in Kuala Lumpur that was awarded to the group late last year has been terminated.

Binasat loses civil works job for Amazon-linked KL substation project

The federal government has approved an allocation of RM16.45 billion for the setting up of a helicopter assembly factory at the Melaka International Airport (LTAM) in Batu Berendam here, said Chief Minister Datuk Seri Ab Rauf Yusoh.

Putrajaya has greenlit RM16.4b helicopter assembly plant in Melaka, says CM

Skygate Solutions Bhd (KL:SKYGATE), formerly Ewein Bhd, is buying a 51% stake in Leader Range Technology (LRT) for RM10.71 million in cash. In a share sale agreement signed on Tuesday, Skygate said it will acquire 255,003 shares from founder and managing director Ong Chee Fui and Kumpulan Modal Perdana Sdn Bhd (KMP), along with all preference shares held by KMP.

Skygate Solutions buys 51% stake in engineering firm from MOF Inc unit and founder for RM10.7m

China has ordered its airlines not to take any further deliveries of Boeing jets in response to the US decision to impose 145% tariffs on Chinese goods, Bloomberg News reported on Tuesday, citing people familiar with the matter.

China orders airlines to suspend Boeing jet deliveries amid trade war — Bloomberg News 

Binastra Corp Bhd (KL:BNASTRA) has secured two construction contracts worth a combined RM458.5 million to build serviced apartments along Jalan Kebun Teh in Johor Bahru, Johor.

Binastra bags two serviced apartment contracts in JB worth RM459 mil

The US economy is set to lose billions of dollars in revenue in 2025 from a pullback in foreign tourism and boycotts of American products, adding to a growing list of headwinds keeping recession risk elevated.

US economy set to lose billions as foreign tourists stay away 

Malaysian oil and gas services firm Keyfield International Bhd (KL:KEYFIELD) is buying a new long cable-laying barge for US$20.55 million (RM90.8 million) cash, which it will then charter out for a year for US$9.1 million.

Keyfield International secures US$9.1m charter deal as it adds US$20.55m cable-laying barge to fleet

Loss-making Scope Industries Bhd (KL:SCOPE) is disposing of its wholly owned manufacturing unit to Singapore-based Luxshare Precision ingapore Pte Ltd for RM96.7 million.

In a filing with the exchange on Tuesday, Scope Industries said it had entered into an agreement with Luxshare for the disposal of its entire stake in Scope Manufacturers (M) Sdn Bhd (SMSB).

anufacturer in Taiwan.

Surindran Murugiah