LET us start with the definition of myth: (a) a widely held but false belief; and (b) an exaggeration or idealised conception of a thing.

The dominant narrative in the discourse on home ownership and affordability in Malaysia is best captured in this one-page highlight in the Bank Negar...

Tong's Portfolio: Home ownership and affordability in Malaysia: Facts and myths

We have written a series of articles addressing economic issues and challenging certain prescriptions by the Malaysian government, including on targeting labour share of income and the need to end state capture. This week, we address direct wage intervention. We have done so to articu...

Should Malaysia force wages to rise through direct wage policy intervention?

We are growing increasingly worried about Malaysia’s fiscal position. The government’s operating balance will fall into a deficit this year, for the first time since 1987 — unless Petroliam Nasional Bhd (Petronas) makes yet another bumper dividend payout. In fact, the call for special dividends f...

Tick tock tick tock … time is running out ... Malaysia needs a credible fiscal consolidation plan now

When the support structures are weak, it is short-sighted to replace the furniture as a means to make the home more attractive.


 

What does it take to get the Malaysian economy back on track? We hope the lessons we have articula...

End ‘state capture’ to enable economic transformation and improve livelihoods

Why do some countries prosper and continue to grow from strength to strength while the economic development and growth in others stagnate or, worse, falter and decline? We asked this question some weeks back and, last week, we highlighted two nations — South Korea and South Africa — whose starkly...

The story of the two Souths: education, competition and corruption

Democracy (and a market economy) alone does not automatically set the nation on the path to economic prosperity. There are perhaps no better contrasting examples that underscore this than the economic developments in two countries — South Africa and South Korea. We will attempt to highlight and p...

Democracy is an ideology, not a solution

Star Media Group held its extraordinary general meeting (EGM) as scheduled on May 31. The resolution on the disposal of properties — two units of double-storey semi-detached factory and warehouse annexed with a 1½-storey office building plus other ancillary buildings — to Matang in exchange for a 13% stake in the latter (plus RM4.1 million cash for a total consideration of RM33 million) was voted down by the majority shareholdings.

Tong's Portfolio: Share investors like outcome of Star Media Group’s EGM

The following questions were sent to Star Media Group last Tuesday (May 23) ahead of its EGM on the proposed disposal of land/buildings to Matang for RM33 million:


	Why did Star agree to the disposal consideration to be satisfied primarily in M...

Tong's Portfolio: Star Media Group: An unreasonable, value-destructive related-party transaction with Matang

OVER the past year and more, strong opinions have been articulated on how Malaysia should roll out access to 5G. They have come from those who favoured the innovative Single Wholesale Network (SWN) solution under Digital Nasional Bhd (DNB) and those who opposed, supporting instead a Dual Wholesal...

My Say: Is the government setting up DNB, which it fully owns, to fail with second network? And why?

AFTER my last article on Digital Nasional Bhd (DNB) and the Single Wholesale Network (SWN) rollout model for 5G in Malaysia (please scan the QR code to read the full article titled “The context of how and why the 5G Single Wholesale Network model was chosen in Malaysia”), I had not intended to wr...

My Say: Do not ‘gift’ DNB to the telcos, please

JPMorgan Chase & Co expects to pay more than US$350 million (RM1.67 billion) to settle regulatory claims that it failed to feed information on trades into market-surveillance systems.

JPMorgan to pay over US$350m for trade-reporting lapses

OpenAI has completed a deal allowing employees to sell stakes in the company, according to a person familiar with the matter.

The tender offer values the artificial intelligence start-up at US$86 billion (RM411.08 billion), a price that makes OpenAI one of the most valuable start-ups in the world. Bloomberg previously reported the value and that Thrive Capital, the venture capital firm led by Josh Kushner, would lead the deal.

OpenAI deal said to allow employees to sell shares at US$86b valuation

Following Minister of Economy Rafizi Ramli’s comment that Malaysia was studying Singapore’s Progressive Wage Model (PWM), the government released a white paper last November that outlined a pilot PWM. The PWM as envisioned by Rafizi will coexist with the national minimum wage, which stands at RM1,500 per month, with an exemption for micro firms with fewer than five employees.

My Say: Lessons from Singapore’s experience with the Progressive Wage Model

The government has yet to decide on introducing a single grade of white rice known as the Malaysia Madani white rice.

Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said any announcement or decision made must be in accordance with the Control of Padi and Rice Act 1994 (Act 522), and be communicated to the Cabinet.

Govt yet to decide on single-grade white rice — minister

The return of foreign funds to the region is expected to provide a fillip to Bursa Malaysia next week, as buying momentum for domestic equities persists on renewed optimism.

Foreign funds expected to boost Bursa in coming week

The ringgit is expected to remain soft next week, with a possible range of around 4.76 to 4.77 against the US dollar, said an analyst.

Ringgit seen remaining soft at 4.76-4.77 against US dollar next week

OpenAI chief executive officer Sam Altman is working to secure US government approval for a massive venture to boost global manufacturing of artificial intelligence (AI) chips, an effort that risks raising national security and antitrust concerns in Washington, according to people familiar with the matter.

OpenAI’s Sam Altman seeking US blessing to raise billions for AI chips — sources

SoftBank Group Corp founder Masayoshi Son is seeking as much as US$100 billion (RM478 billion) to bankroll a chip venture to compete with Nvidia Corp and supply semiconductors essential for artificial intelligence (AI), according to people with knowledge of the matter.

Masayoshi Son seeking to build US$100b AI chip venture, Bloomberg reports

The Biden administration is in talks to confer more than US$10 billion (RM47.80 billion) in subsidies to Intel Corp, people familiar with the matter said, in what would be the largest award yet under a plan to bring semiconductor manufacturing back to US soil.

Intel in talks for more than US$10b in Chips Act incentives — sources

Two Federal Reserve (Fed) officials who vote on policy in 2024 indicated an openness to three interest-rate cuts this year should inflation progress continue.

Two Fed voters indicate openness to three rate cuts this year

KUALA LUMPUR (Feb 16): Here is a brief recap of the corporate announcements that made the news on Friday:

KPJ Healthcare Bhd's net profit rose nearly 16% in the fourth quarter ended Dec 31, 2023 from a year earlier thanks to higher patient numbers and tax writeback. Net profit for the q...

KPJ, BHIC, MRCB, KNM, SNS Network, ICT Zone Asia and MyEG

One of the smaller brokerages in a highly competitive stockbroking industry, the boardroom and shareholding changes in Apex Equity Holdings Bhd in the last five years have grossly overshadowed its history, where it displayed tenacity to remain in business even in the worst of times.

Apex Equity addresses lingering questions

The return&nbsp;of foreign funds to&nbsp;the region is expected to provide a fillip to Bursa Malaysia next week, as buying momentum for domestic equities persists on renewed optimism.

Next&nbsp;week’s earnings report from chipmaker Nvidia could prove a gut check for one of the market’s hottest names, and for the artificial intelligence (AI) fever that has&nbsp;helped power&nbsp;gains for US&nbsp;stocks in recent months.

High-flying Nvidia's earnings could test US stock market’s AI dreams

SoftBank Group Corp&nbsp;founder Masayoshi Son is seeking as much as US$100 billion (RM478&nbsp;billion) to bankroll a chip venture to compete with Nvidia Corp&nbsp;and supply semiconductors essential for artificial intelligence (AI), according to people with knowledge of the matter.

The Social Security Organisation (Socso) made benefit payments of up to RM5.73 bil to Insured Persons (IPs) and their dependents last year, said Human Resources Minister Steven Sim Chee Keong.

He said that the agency made similar payments of RM5.1 billion in 2022 and Socso’s overall financial performance in 2023 was the best since Socso was established in 1971.

Socso paid RM5.73 billion in benefits last year — Sim

US&nbsp;Treasury yields rose and the dollar edged up against the yen on Friday after data showed US producer prices increased more than expected in January, adding to the view that any interest rate cuts by the Federal Reserve (Fed) are not imminent.

Yields, dollar rise after stronger-than-expected US PPI data

Goldman Sachs CEO David Solomon was awarded US$31 million in compensation for 2023, up 24% from US$25 million in 2022, the company said in a filing on Friday.

Solomon's pay comprises a US$2 million base salary, unchanged from the previous year, and a bonus of US$8.7 million in cash and US$20.3 million in performance-linked stock, the bank said.

Goldman Sachs CEO Solomon gets 24% pay bump to US$31 million

The Madani government will add 186 new Digital Economic Centres (PEDi), bringing the total to 1,097&nbsp; nationwide by the end of this year, Prime Minister Datuk Seri Anwar Ibrahim said.

He said there are currently 911 PEDi, and the effort to add more such centres, especially in areas often overlooked, is the government's initiative to address the digital and income gap, while adding that digital transformation is a crucial agenda in realising the vision of the Madani Economic Framework.

Govt to set up 186 more PEDi to bridge digital divide — PM

Two Federal Reserve (Fed) officials who vote on policy in 2024 indicated an openness to three interest-rate cuts this year should inflation progress continue.

Nintendo Co&nbsp;is advising game publishers that its next-generation console will be delayed until the first quarter of 2025, according to people with knowledge of the matter.

Nintendo telling game publishers Switch 2 will be delayed, Bloomberg reports

Seafarers have the right to refuse to sail on ships passing through the Red Sea in a new industry agreement as the situation escalates and further vessels are attacked by Yemen's Iran-aligned Houthis, a labor union and industry groups said on Friday.

Seafarers can refuse to sail through Red Sea as Houthis step up attacks — industry

The Biden administration is in talks to confer more than US$10 billion (RM47.80 billion) in subsidies to Intel Corp, people familiar with the matter said, in what would be the largest award yet under a plan to bring semiconductor manufacturing back to US soil.

OpenAI chief executive officer Sam Altman is working to secure US government approval for a massive venture to boost global manufacturing of artificial intelligence (AI) chips, an effort that risks raising national security and antitrust concerns in Washington, according to people familiar with the matter.

The ringgit is expected to remain soft next week, with a possible range of around 4.76 to 4.77 against the US dollar, said an analyst.&nbsp;

Reddit Inc&nbsp;has signed a contract allowing a company to train its artificial intelligence (AI) models on the social media platform’s content, according to people familiar with the matter, as it nears the potential launch of its long-awaited initial public offering (IPO).

Reddit said to have signed AI content licensing deal ahead of IPO

The government has yet to decide on&nbsp;introducing&nbsp;a single&nbsp;grade of white rice known as the Malaysia Madani white rice.

Agriculture and Food Security Minister&nbsp;Datuk Seri Mohamad Sabu said any announcement or decision made must be in accordance with&nbsp;the Control of Padi&nbsp;and Rice Act 1994 (Act 522), and be communicated to&nbsp;the Cabinet.

OpenAI has completed a deal allowing employees to sell stakes in the company, according to a person familiar with the matter.

The tender offer values the artificial intelligence start-up at US$86 billion (RM411.08 billion), a price that makes OpenAI one of the most valuable start-ups in the world. Bloomberg&nbsp;previously reported&nbsp;the value and that Thrive Capital, the venture capital firm led by Josh Kushner, would lead the deal.&nbsp;

Tong Kooi Ong

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