Bank Negara Malaysia (BNM) has given banking institutions until end- 2019 to revise “unfair” terms and conditions, and improve clarity by using  plain language for both new and existing housing loan and financing contracts.

BNM tells banks to use plain language in housing loan contracts

Bank Negara Malaysia (BNM) has found that some terms and conditions in housing loans and financing contracts are disproportionately skewed in favour of banking institutions, to the detriment of consumers.

Unfair housing loan terms to be revised by end 2019

Bank Negara Malaysia (BNM) has classified 2018 as a year that insurance and takaful players proving their resiliency, with profitability for the sector going down in the year.

Insurance industry proves resilient in 2018 despite lower profitability

Bank Negara Malaysia (BNM) said the monetary value of mobile banking financial transactions doubled to RM100.1 billion last year, with 257.4 million transactions, from RM50.7 billion with 107.7 million transactions in 2017.

Value of mobile banking transactions doubled in 2018

PETALING JAYA (March 28): The rejection rate of housing applications has declined to below the average rate of about a quarter of all cases, said Bank Negara Malaysia (BNM) in its Financial Stability and Payment Systems Report 2017.

The report stated that the rejection rate of ...

Rejection rate of housing loan applications drops below average, says Bank Negara

PETALING JAYA (March 28): The authorities, property developers, owners, and other stakeholders in the real estate sector are urged to come up with specific measures to reduce the severe imbalances in the office and shopping complex segments that threaten the rest of the economy, according to the ...

Stakeholders must collaborate to reduce severe imbalances in the retail, office segments

PETALING JAYA (March 28): Loans for the purchase of residential properties remain the largest component of household debt, representing 52% of total household loans, according to Bank Negara Malaysia’s (BNM) Financial Stability and Payment Systems Report 2017 released today.

...

Housing loans make up half of household debt, reflects affordability issues

KUALA LUMPUR (March 23): Malaysia's household debt-to-gross domestic product (GDP) ratio contracted to 88.4% as at end 2016 from 89.1% in 2015, as households cut loan exposure for purchases of non-residential properties, cars and securities.

Bank Negara said in its 2016 Financial St...

Malaysia's 2016 household debt to GDP ratio falls to 88.4% 

KUALA LUMPUR (March 23): Malaysia's household debt-to-gross domestic product (GDP) ratio contracted to 88.4% as at end 2016 from 89.1% in 2015, as households cut loan exposure for purchases of non-residential properties, cars and securities.

Bank Negara said in its 2016 Financi...

KUALA LUMPUR (March 23):  The greater flexibility provided for the insurance industry to price motor and fire products under the new liberalisation initiative will promote competition, says Bank Negara Malaysia (BNM), adding this in turn will drive improvements in underwriting and claims man...

Premium rates for motor, fire products will be priced fairly over time

KUALA LUMPUR (March 23): The level of household debt-to-gross domestic product (GDP) ratio continued to be elevated at 89.1% amid the more moderate growth in nominal GDP in 2015, according to Bank Negara Malaysia.

"The capacity of households to service debt has however generally remaine...

Household debt-to-GDP elevated at 89.1%

President Donald Trump said he would ask Saudi Arabia and other Opec nations to “bring down the cost of oil” and reiterated his threat to use tariffs to bring manufacturing back to the US as he addressed world leaders gathered in Davos on Thursday.

Trump also said he would demand an immediate drop in interest rates, which he said had ratched up deficits and resulted in what he cast as economic calamity under the tenure of his predecessor, Joe Biden.

Trump urges to lower oil prices, interest rate cuts at Davos

Top diplomats from China and India will meet next week in Beijing as the nuclear-armed neighbors try to repair ties marred by a border dispute nearly five years ago.

India’s Foreign Secretary Vikram Misri will meet his Chinese counterpart during a two-day trip to Beijing starting Sunday, India’s External Affairs Ministry said on Thursday.

India, China diplomats to meet in Beijing to pursue better ties

US President Donald Trump told business leaders gathered at the World Economic Forum (WEF) in Davos, Switzerland, on Thursday that he is working to reverse inflation and illegal immigration while boosting fossil fuels production in the US.

"What the world has witnessed in the past 72 hours is nothing less than a revolution of common sense," Trump said via video conference, adding that he would focus on deregulation and making the US  a hub of artificial intelligence and cryptocurrencies while extending tax cuts passed during his first term in office.

Trump tells Davos business elite he wants to reverse inflation, cut taxes

Tianqi Lithium Corp warned that it expects to post a net loss of as much as 8.2 billion yuan (RM4.97 billion) for 2024, and is halting an expansion project in Australia as a downturn in the battery metals markets drags on.

A slump in lithium prices contributed to a sharp drop in operating profitability over the course of 2024, even as production and sales of lithium products grew, the company said in a notice to investors on Thursday.

China’s Tianqi Lithium issues profit warning and halts expansion on metals downturn

Persistently high US bond yields will force private investors to turn their backs on emerging markets desperately in need of financing to fight global warming.

That’s according to Srini Nagarajan, head of Asia at British International Investment, which is the UK government’s development finance unit.

Juicy US yields may sap funding desperately needed in emerging-market climate finance

The authorities’ strict action in shutting down illegal crossings at the Malaysia-Thailand border in Rantau Panjang here forced the operators of the illegal jetties to move their operations to the neighbouring country two days ago.

The General Operations Force (GOF) Southeast Brigade commander, Datuk Nik Ros Azhan Nik Ab Hamid, said this move, enforced on Dec 1, reflects the growing compliance of the communities in border areas with the ban on illegal border crossings.

Border crossing ban cripples illegal jetties in Rantau Panjang

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

YTL Corp, YTL Power, MRCB, Westports, IGB REIT, IGB Commercial REIT, Axis REIT, KIP REIT, Destini, Citaglobal, T7 Global, Oriental Kopi, Econframe, Unitrade 

Denmark’s defence minister wants to raise the Nordic country’s total military spending to more than 500 billion kroner (US$70 billion) through 2033 as it seeks to ramp up investment in security in the Arctic region.

Denmark wants to spend more on Greenland defence amid Trump spat

Friedrich Merz, the conservative front-runner in the race to be Germany’s next chancellor, warned domestic companies against making bigger investments in China.

“The decision to invest in China is a decision with great risk,” Merz said at a foreign policy event in Berlin on Thursday. “If you take this risk, do it in such a way that it doesn’t endanger the entire company group if you have to write off this investment from one year to the next.”

German frontrunner Merz warns companies against China investment

The world’s top beef exporter Brazil is in advanced talks to begin shipments to Japan, according to a major industry group, in a move that may hurt US sales to the Asian nation.
  
Brazil has provided Japan with information about its production system and shipments for two decades, and now the industry is optimistic that the world’s third-biggest importer of the meat will finally open up its market, according to Roberto Perosa, who formerly served in the country’s agriculture ministry and is the current president of the Brazilian Association of Beef Exporters.

Brazil in talks for beef shipments to Japan in threat to US

YTL Corp Bhd (KL:YTL) and YTL Power International Bhd (KL:YTLPOWR) have each proposed a bonus issue of free warrants, on the basis of one free warrant for every five shares held in the respective companies. The warrants are planned to be exercised at a discount to the share prices of each company —&nbsp;at 37% discount for YTL Corp, and a 39.5% discount for YTL Power based on their closing prices on Thursday&nbsp;— bourse filings showed.

YTL Corp, YTL Power plan free warrants; exercise prices at discount to market prices

Sime Darby Property Bhd (KL:SIMEPROP) has signed five anchor tenants for its upcoming KLGCC Mall, marking a significant milestone in the company's retail expansion strategy.

The tenants include Jaya Grocer, Serai Group’s flagship concept, ACE Hardware, Asia Ballet Academy, and the first HarborLand kids playland in Malaysia.

Sime Darby Property secures five anchor tenants for KLGCC Mall

BYD Co has beaten out Toyota Motor Corp to take the title of most popular car brand in Singapore for the first time.

BYD outsells Toyota to becomes Singapore’s most popular car

KUALA LUMPUR (Jan 23): KIP Real Estate Investment Trust (KL:KIPREIT) unitholders have approved the acquisition of four industrial properties associated to its largest shareholder Datuk Eddie Ong Choo Meng, for a total purchase price of RM98.3 million.

KIP REIT unitholders approve RM98m industrial properties buy from Eddie Ong

Kepala Batas Member of Parliament Dr Siti Mastura Muhammad has settled the payment of RM830,034.75 in damages and legal costs (including interest) to three DAP stalwarts.

PAS MP Siti Mastura settles payment of RM830k to Kit Siang, Guan Eng and Teresa Kok pending defamation appeal

The Securities Commission Malaysia (SC) has issued a statement to give the assurance that&nbsp;it is closely monitoring recent takeover activities in the Malaysian market&nbsp;to ensure compliance with relevant regulations, and to safeguard the integrity of the capital market, citing recent interest in such matters.

SC says it is keeping close watch on takeovers amid public interest in MAHB deal

KUALA LUMPUR (Jan 23): KIP Real Estate Investment Trust (KL:KIPREIT) said it remains in acquisition mode, aiming to expand its portfolio with more retail and industrial properties.

KIP REIT remains in acquisition mode, says CEO

Malaysian Resources Corp Bhd (KL:MRCB) is partnering Ipoh Sentral Sdn Bhd (ISSB) to jointly develop the Ipoh Sentral project, with an estimated gross development value of RM6.25 billion.

MRCB to jointly undertake RM6.25b GDV Ipoh Sentral development project

Prime Minister Datuk Seri Anwar Ibrahim said the government is working on a more targeted approach for the provision of toll exemptions during festive seasons.

Govt working on targeted toll exemptions for festive seasons, to benefit only B40, M40 — PM

KUALA LUMPUR (Jan 23): Westports Holdings Bhd (KL:WSPRTS) reported a record-high net profit of RM256.7 million for the fourth quarter ended Dec 31, 2024 (4QFY2024), a 25% increase from RM206.1 million a year ago, driven by higher container revenue.

Westports books record revenue and profit for FY2024, declares 10.86 sen dividend

Former prime minister Datuk Seri Najib Razak on Thursday sought to portray a contrast between his leadership style with the 'work-in-silo' culture in 1Malaysia Development Bhd (1MDB).

1MDB-Tanore trial: Work-in-silo not my leadership style, says Najib

Singapore has charged Wang Junjie, the former director of a local corporate service provider linked to individuals caught up in the city-state’s record S$3 billion (US$2.2 billion or RM9.7 billion) money-laundering case.

Singapore charges former director in record laundering case

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Cover Story 2: Investing ideas for 2025

Digital investment platform StashAway will be offering Bitcoin and Ethereum exchange traded funds (ETFs) on its platform, enabling Malaysians to invest in the two largest cryptocurrencies through a regulated and trusted platform.

StashAway brings Bitcoin and Ethereum ETFs to its platform

The Ipoh Sentral project, a transit-oriented development (TOD) covering an area of 27.11 hectares, is set to commence in six months, with the first phase focusing on landscaping, enhancements, and preservation of heritage and cultural elements.

Ipoh Sentral project to begin in six months

US President Donald Trump downplayed the national security risk posed by TikTok in an interview with Fox News on Wednesday, days after offering the social video app a reprieve from legislation that would have forced it to shut down.

Trump downplays threat of China using TikTok to spy on Americans

Constitutionalism and the independence of the judiciary took centre stage in the speech of The Right Honourable the Chief Justice of Malaysia, Tun Tengku Maimun Tuan Mat, at the opening of the legal year on Jan 8, 2025.

The Chief Justice’s speech: A timely reminder to all Malaysians

Cathay Pacific Airways Ltd is planning to slash its profit share payout to its workers by almost 50%.

Cathay Pacific to cut profit-share payout to staff by around 50%

TNG Digital Sdn Bhd (TNG Digital) has introduced a new feature, SOS Balance, to ensure users are able to pass through toll booths despite insufficient balance in their TNG eWallet.&nbsp;

It will be introduced to selected TNG eWallet users starting Thursday at no cost, giving them a 24-hour grace period to top up their eWallet and settle any outstanding toll charges.

TNG Digital launches free feature in eWallet allowing toll pass-throughs

The 1Malaysia Development Bhd (1MDB)-Tanore trial revisited the termination of KPMG as the company’s external auditor, with former prime minister Datuk Seri Najib Razak asserting that it was not his "character" to threaten anyone.

BNM Financial Stability And Payment Systems Report

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BNM Financial Stability And Payment Systems Report

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