KUALA LUMPUR (May 23): Kossan Rubber Industries (KL:KOSSAN) expects only a minimal impact on its sales volume, anticipating a slight dip in the second quarter due to weakened demand from US customers and intense competition in non-US markets.

Kossan faces slight sales dip amid intense competition, policy shifts — analysts

Mercato has commenced operations at Tropicana Metropark’s SouthPlace Shoppes, occupying a 21,069 sq ft space as the anchor tenant of the commercial precinct.

Tropicana Metropark boosts retail mix with Mercato opening

KUALA LUMPUR (May 23): Lawyers for the late Tun Daim Zainuddin’s family have questioned the basis for the Malaysian Anti-Corruption Commission (MACC)’s recent comments that the former finance minister’s undeclared assets should be seized.

Lawyer questions basis for MACC’s comments that late Daim’s undeclared assets should be seized

A Luxembourg court on Thursday fined Edmond de Rothschild over RM119 million for the bank's role in a money-laundering scandal involving 1Malaysia Development Bhd (1MDB), Agence France-Presse reported.

European bank fined RM119m over role in 1MDB scandal by court in Luxembourg

KUALA LUMPUR (May 23): A remand order and travel ban on Datin Seri Pamela Ling Yueh stood in contrast to her role as a witness for the Malaysian Anti-Corruption Commission (MACC), her family lawyer said on Friday.

Family lawyer doubts abducted Pamela Ling’s status as witness for MACC

At least two research houses have downgraded YTL Power International Bhd (KL:YTLPOWR) given a more cautious earnings outlook after the group delivered weaker-than-expected results.

Analysts downgrade YTL Power following weaker-than-expected results

AME Elite Consortium Bhd (KL:AME) has proposed to provide up to RM100 million in financial assistance to Suling Hill Development Sdn Bhd, a 50%-owned jointly controlled entity of its wholly owned subsidiary Northern Industrial Park Sdn Bhd.

AME Elite to provide up to RM100m financial assistance for Penang industrial park project

Bursa Malaysia Securities Bhd on Thursday granted Pharmaniaga Bhd (KL:PHARMA) a three-month extension up to Aug 29 to implement its regularisation plan.

Pharmaniaga gets three-month extension to implement regularisation plan

KUALA LUMPUR (May 23): Eco-Shop Marketing Bhd (KL:ECOSHOP) rose in its trading debut on the Main Market of Bursa Malaysia, after the dollar-store retail chain lowered the offering price of its shares.

Eco-Shop Marketing opens higher in Main Market trading debut

KUALA LUMPUR (May 23): Former prime minister Datuk Seri Najib Razak has initiated contempt of court proceedings against former attorney general (AG) and sitting apex court judge Tan Sri Ahmad Terrirudin Mohd Salleh, over an alleged order which allows the ex-PM to serve his jail sentence under house arrest.

Najib initiates contempt proceedings against ex-AG Ahmad Terrirudin over addendum order

Goldman Sachs Group Inc said the banker at the heart of a scandal linked to 1Malaysia Development Bhd (1MDB) engaged in “serial lies” and deception about the fraud, days before he is scheduled to be sentenced.

In a letter to a US judge, Goldman said that Tim Leissner, the bank’s former Southeast Asia chairman, has never taken responsibility for his actions in the multibillion-dollar fraud that brought down the Malaysian government.

Goldman accuses 1MDB banker Leissner of ‘serial lies’ ahead of sentencing

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

CelcomDigi, Sunway, YTL Corp, YTL Power, Malayan Cement, Press Metal, Batu Kawan, KLK, UEM Sunrise, Kossan, Dutch Lady, Bumi Armada, DRB-Hicom, Cahya Mata Sarawak, Prolintas, MSM, Petron, Mesiniaga

Malaysia is targeting to establish 10,000 electric vehicle (EV) charging stations nationwide by the end of 2025, according to Deputy Prime Minister Datuk Seri Fadillah Yusof.

Malaysia aims for 10,000 EV charging stations by end of the year

The federal government's fiscal deficit shrank by 17% in the first quarter of 2025 (1Q2025), backed by improved tax collections and reduced subsidy spending, according to the Ministry of Finance (MOF).

Federal govt’s fiscal deficit narrowed 17% y-o-y in 1Q on higher tax revenue, lower subsidies — MOF

BANFF, Alberta/OTTAWA, Canada/BENGALURU (May 22): Finance ministers and central bank governors from the Group of Seven (G7) democracies papered over their differences on Thursday, pledging to address "excessive imbalances" in the global economy and saying they could increase sanctions on Russia.

G7 glosses over tariffs, pledges to cut global economic imbalances

Despite a succession of shocks since 2020, the global economy has held up remarkably well – so far. But the margin for error is dwindling. Total global debt is now nearly 25% higher than it was on the eve of the COVID-19 pandemic, when it already was at an all-time high. This overhang could undercut all economies’ ability to shield themselves against the latest shock: higher trade tariffs.

Frontiers of Growth: The Looming Global Debt Disaster

JOHANNESBURG (May 23): U.S. President Donald Trump showed a screenshot of Reuters video taken in the Democratic Republic of Congo as part of what he falsely presented on Wednesday as evidence of mass killings of white South Africans.

"These are all white farmers ...

Trump's image of dead 'white farmers' came from Reuters footage in Congo, not South Africa

NEW YORK (May 23): Phillips 66 is expected to lay off most workers at its 139,000-barrel-per-day Los Angeles-area refinery in December, sources familiar with the matter said on Thursday.

The company announced in October it would close the facility and begin winding down operations in Oc...

Phillips 66's Los Angeles refinery layoffs to begin in December, sources say

South Korea’s Democratic Party (DP) presidential candidate Lee Jae Myung is ahead of his People Power Party (PPP) rival Kim Moon Soo with 45% support against Kim’s 36%, the Yonhap news agency reported citing a Gallup Korea survey released on Friday.

Democratic Party’s Lee Jae Myung holds lead in South Korea’s presidential race

(May 23): Mexico's Pemex, the world's most indebted energy company, plans to restructure parts of its business in an attempt to save costs, a May document seen by Reuters showed on Thursday.

Earlier reports, citing another document from last month suggesting it could include a ...

Mexico's Pemex plans restructuring to save costs, document shows

KUALA LUMPUR (May 23): Eco-Shop Marketing Bhd (KL:ECOSHOP) rose in its trading debut on the Main Market of Bursa Malaysia, after the dollar-store retail chain lowered the offering price of its shares.

Goldman Sachs Group Inc&nbsp;said the banker at the heart of a scandal linked to 1Malaysia Development Bhd (1MDB) engaged in “serial lies” and deception about the fraud, days before he is scheduled to be sentenced.

In a letter to a US judge, Goldman said that Tim Leissner, the bank’s former Southeast Asia chairman, has never taken responsibility for his actions in the multibillion-dollar fraud that brought down the Malaysian government.

An institutional investor’s multi-billion dollar bullish bet on US stocks has become the talk of the options market.

Over the past month, market participants have noted steady buying of mostly June 2027 call options across a swath of large US companies. Estimates vary of the total premium being spent, with Nomura Holdings Inc&nbsp;tallying nearly US$3 billion (RM12.81&nbsp;billion).&nbsp;

Mystery options buyer bets some US$3b on US stock rally

At least&nbsp;two research houses have downgraded YTL Power International Bhd&nbsp;(KL:YTLPOWR) given a more cautious earnings outlook after the group delivered weaker-than-expected results.

Asian shares posted a modest gain on Friday after a rebound in Treasuries and the dollar eased some concerns about US fiscal policy.

Asian equities advance while Treasuries hold gains

KUALA LUMPUR (May 23): Former prime minister Datuk Seri Najib Razak has initiated contempt of court proceedings against former attorney general (AG) and sitting apex court judge Tan Sri Ahmad Terrirudin Mohd Salleh, over an alleged order which allows the ex-PM to serve his jail sentence under house arrest.

Wall Street struggled to regain confidence in the wake of a&nbsp;Treasury sell-off&nbsp;that shook markets amid fiscal concerns, with stocks dropping in the last stretch of US trading. Bonds and the dollar rose.

After a brief pause in equity selling, the S&amp;P 500 lost steam to finish lower for a third consecutive day.

US stocks lose steam in final minutes of US trading

KUALA LUMPUR (May 23): A remand order and travel ban on Datin Seri Pamela Ling Yueh stood in contrast to her role as a witness for the Malaysian Anti-Corruption Commission (MACC), her family lawyer said on Friday.

Japan may consider asking government-owned entities to support the nation’s bond market if the sell-off in longer-dated debt doesn’t abate, according to Barclays plc’s global chair of research.&nbsp;

Firms with significant state influence like Japan Post Holdings Co&nbsp;and the Government Pension Investment Fund could be “quietly told” to buy more domestic bonds, Barclays’ Ajay Rajadhyaksha said in an interview.

Japan could ask state-owned firms to buy bonds, Barclays says

JOHANNESBURG (May 23):&nbsp;U.S. President&nbsp;Donald Trump&nbsp;showed a screenshot of Reuters video taken in the Democratic Republic of Congo as part of what he falsely presented on Wednesday as evidence of mass killings of white South Africans.

"These are all white farmers ...

AME Elite Consortium Bhd (KL:AME) has proposed to provide up to RM100 million in financial assistance to Suling Hill Development Sdn Bhd, a 50%-owned jointly controlled entity of its wholly owned subsidiary Northern Industrial Park Sdn Bhd.

KUALA LUMPUR (May 23): Lawyers for the late Tun Daim Zainuddin’s family have questioned the basis for the Malaysian Anti-Corruption Commission (MACC)’s recent comments that the former finance minister’s undeclared assets should be seized.&nbsp;

Bursa Malaysia Securities Bhd on Thursday granted Pharmaniaga Bhd (KL:PHARMA) a three-month extension up to Aug 29 to implement its&nbsp;regularisation plan.

A Luxembourg court on Thursday fined Edmond de Rothschild over RM119 million for the bank's role in a money-laundering scandal involving 1Malaysia Development Bhd (1MDB), Agence France-Presse reported.

NEW YORK (May 22): Billionaire investor&nbsp;Bill Ackman told clients on Thursday that his hedge fund bought Amazon shares last month, betting earnings will continue to grow at the online retailer, as US President Donald Trump's tariffs bite less than consumers initially feared.

Ackman's hedge fund Pershing Square bets on Amazon, exits Canadian Pacific

（吉隆坡23日讯）宜购市场（Eco-Shop Marketing Bhd）（KL:ECOSHOP）在大马交易所主板亮丽登场，首宗交易取得开门红。

主板亮丽登场 宜购市场首开溢价

BANFF, Alberta/OTTAWA, Canada/BENGALURU (May 22): Finance ministers and central bank governors from the Group of Seven (G7) democracies papered over their differences on Thursday, pledging to address "excessive imbalances" in the global economy and saying they could increase sanctions on Russia.

(May 23): TD Bank on Thursday said it would lay off 2% of its workforce to cut costs and scale up its digital and AI investments, as the bank restructures following its historic anti-money laundering settlement under new CEO Ray Chun.

The layoff involving some 2,000 employees is part of...

Canada's TD Bank to lay off 2,000 employees of workforce in restructuring

NEW YORK (May 23): Phillips 66 is expected to lay off most workers at its 139,000-barrel-per-day Los Angeles-area refinery in December, sources familiar with the matter said on Thursday.

The company announced in October it would close the facility and begin winding down operations in Oc...

South Korea’s Democratic Party (DP) presidential candidate Lee Jae Myung&nbsp;is ahead of his People Power Party (PPP) rival Kim Moon Soo with 45% support against Kim’s 36%, the&nbsp;Yonhap news agency reported citing a Gallup Korea survey released on Friday.

Malaysia

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