The country’s gross domestic product (GDP) is expected to recover in 2021 and to grow in the range of 6.5%-7.5%, said Bank Negara Malaysia (BNM) governor Datuk Nor Shamsiah Yunus.

Bank Negara forecasts GDP growth of 6.5% to 7.5% but downside risks remain

The FBM KLCI closed 4.17 points or 0.26% higher today on bargain hunting and as global equity and commodity investors cheered positive China and US manufacturing data.

At 5pm, the KLCI closed at 1,632.8. The KLCI closed higher today after investors bargain hunted for Malaysian shares following the KLCI's 14.97-point or 0.91% decline yesterday.

KLCI rises on bargain hunting amid positive China, US data

Only 47% of Malaysian firms surveyed by PwC said they were well-prepared for the Covid-19 pandemic.

According to a statement announcing PwC's Global Crisis Survey 2021, a quarter of Malaysian organisations said they did not have any response plans in place before Covid-19.

PwC: Less than half of Malaysian firms surveyed well-prepared for Covid-19 crisis

Construction services company Tuju Setia Bhd has inked an underwriting agreement with Alliance Investment Bank Bhd and CIMB Investment Bank Bhd for its planned initial public offering (IPO) on Bursa Malaysia.

Construction services firm Tuju Setia inks IPO underwriting agreement

Car-upholstery specialist Pecca Group Bhd’s share price rose to a record high today after rising as much as 32 sen or 9.64% to RM3.64 in morning trade on Bursa Malaysia.

Car-upholstery specialist Pecca rises to record high

A Tenaga Nasional Bhd (TNB)-backed bond issuer, Special Power Vehicle Bhd, is redeeming securities under its Class A and Class B Islamic medium term notes (IMTNs) with a combined issuance facility of up to RM1.02 billion.

TNB-backed bond issuer Special Power Vehicle redeems MTN facility

KUALA LUMPUR (April 5): CIMB Investment Bank and Malayan Banking Bhd (Maybank) are amongst several other banks listed as joint lead and co-lead managers in the recent launch of the £500 million UK sovereign sukuk.

The joint lead managers on the syndication were CIMB Investment Bank, Dub...

CIMB Investment, Maybank listed as lead managers in £500m UK sovereign sukuk

Foreign investors were net sellers for the third consecutive week after selling off equities listed on Bursa Malaysia amounting to RM173.24 million on a net basis, compared to RM239.8 million the week before, according to MIDF Research.

Foreign selling of local equities narrowed to RM173.24m last week — MIDF

The Malaysia Digital Economy Corporation (MDEC) has teamed up with CIMB Islamic Bank Bhd to extend micro-financing opportunities to catalyse digital agriculture technology (digital agtech) in Malaysia.

MDEC partners CIMB Islamic to provide up to RM25m in financing to catalyse digital agtech

Genting group is among a few strategic investors involved in the recent round of funding for financial technology company, Sightline Payments.

Sightline Payments, on its website, announced today US$100 million in strategic growth investment.

Genting group among key investors in recent funding of US$100m for Sightline Payments

Ryanair Holdings plc pressed European authorities to limit the sale of alcohol at airports, renewing its call for a crackdown after a spate of costly passenger disruptions.

The Irish low-cost carrier said it backs a two-drink maximum at airports, citing an April 2024 incident that ended up costing Ryanair more than €15,000 (RM69,039).

Ryanair demands airport booze limits to deter unruly flyers

Hillcove Sdn Bhd, which was the largest shareholder of Sersol Bhd (KL:SERSOL), has disposed of its entire 13.67% stake in the chemical manufacturer.

Hillcove sold the stake, comprising 100 million shares, in an off-market deal on Jan 9, according to Sersol’s bourse filing on Monday. The filing did not indicate the transaction value.

Sersol's largest shareholder Hillcove sells entire stake to ED Mohamed Suffian

Southern Japan was hit by a strong earthquake on Monday that authorities said did not warrant the kind of megaquake warning that was triggered for the first time last year.

A quake with a preliminary magnitude of 6.9 struck the Kyushu region at 9.19pm (0019 GMT) on Monday, the Japan Meteorological Agency (JMA) said.

Southern Japan hit by strong quake near Nankai Trough region

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

Gamuda, Yinson, YTL Power, Eden, Infomina, Kimlun, Solarvest, Sapura Energy, Apex Equity

(Jan 13): The property services arm of Chinese builder Country Garden is expecting a drop of up to 1.10 billion yuan (US$150.03 million) in annual earnings as its sanitation business plans to record an impairment charge for goodwill and tangible assets.

The unit, Country Garden Services...

Country Garden's property services arm expects annual earnings to fall

South Malaysia Industries Bhd (KL:SMI) is challenging the Securities Commission Malaysia's (SC) decision to allow the appointment of six new directors nominated by a company that is seeking to take over SMI before the offer document has been dispatched, alleging that the regulator's decision had breached takeover rules designed to protect minority shareholders.

SMI takes SC to court over board appointments amid takeover bid

Police have the authority to check a person’s mobile phone if there is suspicion or information suggesting he or she has committed a crime.

Inspector-General of Police Tan Sri Razarudin Husain said that this is stipulated under Section 23 (1) of the Criminal Procedure Code, to ensure the absence of obscene or offensive content and threatening communication.

IGP: Police can conduct mobile phone checks based on reasonable suspicion

The US Supreme Court buttressed efforts by environmental advocates to hold oil companies accountable for climate change, letting Honolulu press a lawsuit that accuses the industry of deceiving customers about the risks posed by fossil fuels.

The high court, without comment on Monday, refused to consider company arguments that federal law bars the suit, one of more than two dozen similar cases around the country.

Oil industry spurned by Supreme Court on Hawaii climate suit

Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Monday, extending its gains from last Friday.

Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said the gains were supported by sharply higher related vegetable oils futures on the Dalian Commodity Exchange, reinforced by the idea of tight supplies resulting from poor weather conditions, and the recent Malaysian Palm Oil Board (MPOB) data for December.

CPO futures extend gains driven by stronger vegetable oil market in China

Prime Minister Datuk Seri Anwar Ibrahim said that his meetings with major companies from the United Arab Emirates (UAE) during his three-day working visit to the country will strengthen bilateral relations and boost the trade and investment cooperation that has been established.

Meetings with UAE companies to strengthen bilateral ties, boost trade and investment — Anwar

Gamuda Bhd (KL:GAMUDA) said its consortium has been appointed as the main contractor to deliver the first civil works package worth over RM8 billion for the Penang Light Rail Transit (LRT) project.

Gamuda gets first package worth over RM8 bil of Penang LRT project

Malaysian stocks were broadly lower on Monday led by construction and property companies, while the country’s benchmark index fell to a five-month low.

Investors in Asia reacted poorly to the latest jobs data in the US that pointed to a robust economy, threatening the prospects of rate cuts by the Federal Reserve. The ringgit also depreciated along with other emerging Asian currencies under pressure from a strengthening US dollar.

Malaysian stocks broadly lower as KLCI falls to five-month low, ringgit weakens

YTL Power International Bhd (KL:YTLPOWR), which is in the midst of setting up its own artificial intelligence (AI) data centres using the latest chips by US chip giant Nvidia Corp, does not expect to be impacted by the proposed US rules on advanced chip&nbsp;exports into countries like Malaysia.

YTL Power ‘confident’ not affected by potential US chip export curbs amid Nvidia partnership

The Joe Biden administration's plans to introduce new export restrictions on artificial intelligence (AI) chips under a three-tiered system by country have sparked concerns in Malaysia.

How will restricted AI chip access impact Malaysia?

Europe’s largest pension fund sold its entire €571 million (US$585 million or RM2.63 billion) stake in Tesla Inc&nbsp;in the third quarter, partly due to disagreement with Elon Musk’s remuneration package.

Europe’s largest pension fund sold Tesla stake over Musk’s pay

Bursa Malaysia Bhd (KL:BURSA) has introduced a new renewable energy (RE) subsector within its energy and utilities sector classification. This move aims to provide more focused classification for public listed companies (PLCs) operating in the RE space.

The new RE classification includes PLCs involved in providing equipment and services for RE production, as well as those producing or distributing electricity through RE sources.&nbsp;

Bursa reclassifies 13 companies as it introduces new renewable energy subsector

Allianz Malaysia Bhd’s (KL:ALLIANZ) earnings outlook is clouded by uncertainties over future premium increases, Maybank Investment Bank said and downgraded the country’s largest general insurer.

Allianz Malaysia's earnings outlook clouded by premium uncertainties, Maybank says in downgrade to 'hold'

Energy infrastructure firm Yinson Holdings Bhd (KL:YINSON)&nbsp;is close to signing up investors for a funding round in its unit that makes equipment used by the offshore oil and gas industry, according to people with knowledge of the matter.

Yinson close to deal with investors including Abu Dhabi for US$1b funding — Bloomberg

Former 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy told the High Court on Monday that there was no merit to the allegations made by his former company, that he had failed to inquire, investigate or ascertain, and recover the investments the company had lost.

Testifying in his defence to 1MDB’s US$6.59 billion suit against him and former Treasury secretary-general and former 1MDB board of advisors chairman Tan Sri Mohd Irwan Serigar Abdullah, before judge Datuk Raja Ahmad Mohzanuddin Raja Mohzan, Arul Kanda also disagreed that he had acted against 1MDB’s interests.

Arul Kanda: 1MDB loss inquiry was not my job

Eden Inc Bhd (KL:EDEN) said on Monday that it has been selected to develop a 29.99-megawatt (MW) large-scale solar photovoltaic plant in Gebeng, Kuantan.

Eden picked to develop 29.99MW solar plant in Kuantan

The Malaysian ringgit could face downward pressure due to the possibility of new US tariffs on China and uncertainties over the direction of the US Federal Reserve's (Fed) terminal rate, economists cautioned.

US interest rate cut uncertainty, China tariffs pose risks to ringgit — economists

The Islamic digital bank consortium led by KAF Investment Bank Bhd (KAF IB) has received approval from Bank Negara Malaysia (BNM) and the Ministry of Finance (MOF) to commence operations, effective from Dec 20, 2024.

KAF Digital Bank gets regulatory green light to commence operations

The Semiconductor Industry Association (SIA) and Nvidia Corp, two prominent voices in the global chip industry, have criticised the US government’s new export curbs on artificial intelligence (AI) chips.

Semiconductor Industry Association and Nvidia slam Biden administration’ new export controls on AI chips

KUALA LUMPUR (Jan 13): Former prime minister Datuk Seri Najib Razak said that he returned the purported Arab donation, because the 13th general elections were over and he didn’t need a large sum of money.

1MDB-Tanore: Najib says GE13 over, no need for such large sum, returned monies

Gifts and tokens of appreciation to those in power are above board, so long as it doesn't sway the decision-making process, the court heard on Monday.

Former prime minister Datuk Seri Najib Razak said this while testifying in his defence in the ongoing 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial regarding the US$681 million (RM2.081 billion) purported donation&nbsp;from Saudi Arabia into his personal accounts.

1MDB-Tanore: Receiving gift OK, as long as it doesn't impact integrity, says Najib

（吉隆坡13日讯）金务大（Gamuda Bhd）（KL:GAMUDA）指出，其财团获委为槟城轻快铁（LRT）项目首个土木工程配套的主要承包商，价值超过80亿令吉。

金务大获槟轻快铁首份工程 价值逾80亿

Paramount Property unveiled Na Reva, its luxury Bangkok condominium project, at an exclusive Malaysian premiere at its sales gallery in Jalan Ampang, Kuala Lumpur last Saturday (Jan 11). Na Reva was first launched in Bangkok last year and was introduced to the Malaysian market last Saturday. At time of print, 30% of the units have been sold.

Paramount Property unveils Na Reva, a Bangkok riverfront condo project, in Malaysia

Traders in the options market are preparing for the pound to tumble as much as 8% more as fiscal woes that prompted a painful selloff across UK markets last week weigh on the currency.

Pound traders are ready for another 8% slump after selloff

Thailand’s Cabinet approved in principle a bill seeking to legalise casinos, with the government pitching the initiative as a major step to boost tourism and tackle rampant illegal gambling in the Southeast Asian nation.

Thai Cabinet approves draft casino bill in boost for tourism

Malaysia is benefiting from shifts in supply chains, with the emergence of data centres, tech companies and semiconductor manufacturers in the country, said HSBC Global&nbsp;Research.

Syahirah Syed Jaafar

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Syahirah Syed Jaafar

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