KUALA LUMPUR (Oct 21): The special fund of up to RM3 billion, to be allocated by government-linked investment companies (GLICs) to licensed fund managers for investments into small and mid-cap firms, will improve market transactions and banks’ non-interest income, said Ambank Group chairman Tan S...

AmBank: RM3b special fund for small, mid-cap investments will boost banks non-interest income

KUALA LUMPUR (Oct 21): Penang Institute, the Penang government’s think tank, said a balanced Budget is unlikely to be achieved in the foreseeable future due to the large civil service expenditure.

Budget 2017 has a total allocation of RM260.8 million, up 3.4% from the Recalibrated Budge...

Large civil servant outlay will hamper balancing of Budget, says Penang think tank

KUALA LUMPUR (Oct 21): An economist said the emphasis on expenditure allocations in Budget 2017 belied Prime Minister Datuk Seri Najib Razak’s dismissal of talks earlier that it would be an election budget.

“Although Najib dismissed talks of this being an election budget, the emphasis o...

Budget 2017: An election budget it is, says economist

KUALA LUMPUR (Oct 21): Franklin Templeton Investments said infrastructure development projects will benefit the economy and people (rakyat), if it is "targeted and transparently distributed".

Franklin Templeton Investments executive director and head Malaysia fixed income and sukuk, Han...

Franklin Templeton: Infrastructure development to benefit the economy & people if transparently distributed

Malaysia's Budget 2017: An election budget it is, says economist

KUALA LUMPUR (Oct 21): An opposition parliamentarian has accused the government of being over-optimistic about the economy in Budget 2017.

Liew Chin Tong , the DAP MP for Kluang, said the Budget did not address significant challenges that Malaysia is facing amid the global economic slow...

Opposition MPs say PM over-optimistic about the economy

KUALA LUMPUR (Oct 21): The establishment of the Collection Intelligence Arrangement (CIA) under the Ministry of Finance (MOF) is expected to decrease potential tax evasion by companies.

The setting up of the CIA, which consists of the Inland Revenue Board (IRB), Royal Malaysian Customs ...

Experts: Time’s up for tax evaders with the establishment of CIA

KUALA LUMPUR (Oct 21): The Federation of Malaysian Manufacturers (FMM) welcomes the incentives for the development of small and medium enterprises (SMEs) in Budget 2017, but expressed disappointment that more funds had not been allocated to the sector’s growth.

“FMM welcomes the numerou...

FMM: More funds should have been allocated to develop SMEs

KUALA LUMPUR: The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) is concerned that there is only a 2.22% increase in the development expenditure in Budget 2017.

Its president Datuk Ter Leong Yap said there should have been a higher allocation for development e...

ACCCIM: Govt should have allocated more money for development

KUALA LUMPUR (Oct 21): Khazanah Nasional Bhd said Budget 2017 balances growth, fiscal stability and improving living standards for the Bottom 40 (B40) group of Malaysian households.

Khazanah managing director Tan Sri Azman Mokhtar said the fund is committed to deliver on the initiatives...

Khazanah: Budget 2017 balances growth, fiscal stability and better B40 living standards

KUALA LUMPUR (Oct 21): The Transport Ministry (MoT) is happy that its allocation has been increased by 13% in Budget 2017, said minister Datuk Seri Liow Tiong Lai.

The additional funds is mainly for development purposes, he told reporters while leaving Parliament after Budget 2017 was a...

Transport Ministry to buy more trains after getting bigger allocation

KUALA LUMPUR (Oct 21): The Master Builders Association Malaysia (MBAM) said the government should take note that the construction industry needs foreign workers to fill in the demand-supply gap for manpower in the industry.

Noting the infrastructure spending announced in Budget 2017 tod...

MBAM: Construction industry needs foreign workers

KUALA LUMPUR (Oct 21): The Real Estate And Housing Developers' Association Malaysia (REDHA) is calling on the government to extend the special step-up financing scheme of 90%-100% loan given to buyers of PR1MA homes in Budget 2017, to private developers too.

"In areas where PR1MA is not...

REDHA: Extend PR1MA 'step-up' financing scheme to private developers too

KUALA LUMPUR (Oct 21): Prime Minister Datuk Seri Najib Razak lambasted opposition Members of Parliament for staging a walkout during his presentation of Budget 2017 in Dewan Rakyat earlier today, saying they were a disgrace to Parliament.

“In developed countries, they can have different...

Najib: Opposition MPs' walkout a disgrace to Parliament

Global fabless semiconductor companies and foundries rely on their production and assembly facilities in East Asia and Southeast Asia to manufacture 73% of their chips and semiconductor equipment. East Asian countries such as Japan, South Korea, China and Taiwan have developed a mature chip ecosy...

Condivergence: Chip packaging’s place in Malaysia’s semiconductor strategy

(Oct 23): Donald Trump has rejoined the Bloomberg Billionaires Index for the first time since Aug. 6 as his media startup’s stock surges alongside his odds in political betting markets.

The former president’s fortune rose to $6.5 billion Tuesday, ranking him 481st on the l...

Trump enters world’s 500 richest list for first time in 11 weeks

Investors counting on corporate results to give China’s stock rally a fresh leg up may have to look beyond the current quarter for clues, given an ailing economy and constraints on stimulus efforts.

While forward earnings per share projections for members of China’s benchmark CSI 300 Index have seen an upward revision of about 1.5% since a September trough, they remain close to a six-year low, Bloomberg-compiled data show. The gauge has pared some gains from a 35% surge since the September low as traders await further fiscal measures.

China’s historic stock jump unlikely to find support in earnings

Analysts have raised their earnings forecasts and target prices (TPs) after Gamuda Bhd (KL:GAMUDA) grew its order book to RM28.7 billion after securing a NT$32 billion (RM4.3 billion) contract for the Xizhi Donghu Mass Rapid Transit (MRT) project in Taiwan.

Analysts raise forecasts after Gamuda boosts order book to RM28.7b with Taiwan MRT job

US billionaire entrepreneur Elon Musk warned of the risk of the United States going bankrupt if government spending is not cut, reported Sputnik, reported by Bernama-Sputnik.

Musk warns of risks of US going bankrupt — report

Malaysia Airlines Bhd (MAB) has expressed its commitment to focusing on improving training and recruitment to address the increasing demand and complexity of modern aircraft.

The Ministry of Finance (MoF) said that MAB has also strengthened its competitive salary offerings to attract new workers and retain existing employees while also implementing a recruitment process directly from the market.

MAB focuses on enhancing training, hiring workers to address demand, modern aircraft

Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for US$23.5 million (RM101.99 million) in cash and over US$63 million in debt relief, cancelling its plans for an open-market auction of its assets.

Tupperware cancels auction, agrees to lender takeover

Three companies had met all the requirements to participate in the online bidding on June 16, 2024 for a pilot project to supply renewable energy (RE) across borders to Singapore via Energy Exchange Malaysia (ENEGEM).

The Ministry of Energy Transition and Water Transformation (PETRA) said that two Singaporean companies were successful in their bid to secure 100 megawatts (MW) of green electricity, with cross-border supply agreements currently being finalised.

Three companies qualify for online bid to supply renewable energy

South Africa sees Russia as a valued ally, President Cyril Ramaphosa said at a bilateral meeting with Russia's Vladimir Putin on Tuesday, on the eve of the BRICS summit of emerging economies that will take place in the Russian city of Kazan.

South Africa sees Russia as a valued ally, Ramaphosa tells Putin

The last time US government bonds sold off this much as the Federal Reserve started cutting interest rates, Alan Greenspan was orchestrating a rare soft landing.

Treasuries plunge like it’s 1995 as traders see soft landing

Stocks struggled in late hours after downbeat news from some key American companies, with traders also mulling prospects for a slower pace of Federal Reserve rate cuts.

A US$600 billion exchange-traded fund tracking the S&amp;P 500 (SPY) wavered after the close of regular trading.

Stocks struggle in late hours as McDonald’s slumps

Gold prices jumped to record high and the dollar was on the rise again on Wednesday, keeping the pressure on the yen and the euro, while stocks in Asia stuttered as investors were reluctant to place major bets ahead of a hotly contested US election.

Stocks stumble, dollar and gold rise as traders weigh US rates, election

In April, sovereign fund Khazanah Nasional Bhd announced RM1 billion in ‘national fund-of-funds’ initiatives at the KL20 Summit to support local venture capital funds and attract international managers. With the increased interest from both domestic and foreign investors in Malaysia’s start-up ecosystem, a crucial question arises: Are there enough investment- or IPO-ready private companies in the country?

Are Malaysian private companies investment-ready?

Chinese President Xi Jinping told Russia's Vladimir Putin that the international situation was gripped by chaos but that Beijing's strategic partnership with Moscow was a force for stability amid the most significant changes seen in a century.

Xi tells Putin the world is in chaos but friendship with Russia will endure

HSBC Holdings plc’s new chief executive officer just unveiled the biggest overhaul of the company in at least a decade, but it was missing some key details for employees and investors.

HSBC revamp by new CEO Elhedery stumps staffers, investors alike

&nbsp;Top financial regulators around the globe are voicing concern about private credit valuations, whether lenders are hiding troubled loans, and the deep entanglement between private markets and insurance money.&nbsp;

“Valuation risks are where we see a core issue,” Andrew Dean, the co-chief of the Division of Enforcement Asset Management at the US Securities and Exchange Commission, said.

Top regulators call out valuation risks in private credit

The International Monetary Fund (IMF) said the US election is creating “high uncertainty” for markets and policymakers, given the sharply divergent trade priorities of the candidates.

US election creates ‘high uncertainty’ for fragile markets, IMF says

A total of 7,400 companies have adopted the e-invoice system, with 58 million e-invoices issued as of Oct 14, according to the Ministry of Finance (MOF).

This reflects the positive reception among companies in complying with the implementation of e-invoicing, the ministry said.

7,400 companies using e-invoice system, 58 mil e-invoices issued as at Oct 14 — MOF

Japan’s 40-year government bond yield climbed to its highest level in 16 years amid growing speculation that the nation’s central bank will push ahead with interest rate increases in coming months.

Japan’s 40-year yield rises to highest since 2008 on BOJ outlook

Three companies had met all the requirements to participate in the online bidding on June 16, 2024 for a pilot project to supply renewable energy (RE) across borders to Singapore via Energy Exchange Malaysia (ENEGEM).

The Ministry of Energy Transition and Water Transformation (PETRA) said that two Singaporean companies were successful in their bid to secure 100 megawatts (MW) of green electricity, with cross-border supply agreements currently being finalised.

Tokyo Metro Co’s stock soared 36% in its trading debut on Wednesday after the initial public offering (IPO) drew strong demand from investors.

Tokyo Metro shares soar 36% on trading debut after strong IPO

Arm Holdings plc is cancelling a licence that allowed longtime partner Qualcomm Inc to use Arm intellectual property to design chips, escalating a legal dispute over vital smartphone technology.

Arm to cancel Qualcomm chip design licence in escalation of feud

The institutional reform agenda, the construction of a new nuclear reactor and the misappropriation of subsidised diesel in the country will be among the matters discussed in the Dewan Rakyat on Wednesday.

Institutional reform agenda among highlights of Parliament on Wednesday

One person died and dozens fell ill from E coli infections linked to McDonald's Quarter Pounder hamburgers in 10 states, led by Colorado, where 26 people were sickened, the US Centers for Disease Control said on Tuesday.

E coli outbreak tied to McDonald's Quarter Pounder kills one, sickens dozens in US

The chief executive officer (CEO) of GISB Holdings Sdn Bhd (GISBH) and his wife are among 22 individuals who will be charged in the Selayang Sessions Court on Wednesday.

According to Inspector-General of Police Tan Sri Razarudin Husain, all of them will be charged under Section 130V (1) of the Penal Code for being members of an organised crime group.

Top GISBH leader, wife among 22 individuals to be charged on Wednesday

Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for US$23.5 million (RM101.99 million) in cash and over US$63 million in debt relief, cancelling its plans for an open-market auction of its assets.

The last time US government bonds sold off this much as the Federal Reserve started cutting interest rates, Alan Greenspan was orchestrating a rare soft landing.

Donald Trump touted his pledge to provide tax breaks for purchasing cars, highlighting that the benefit would only apply to vehicles made in the US as he rallied voters in a crucial swing state with just two weeks until Election Day.

Trump excludes Asian, European cars from vehicle tax-break plan

Bank of America Corp chief executive officer Brian Moynihan has urged Federal Reserve (Fed) policymakers to be measured in the magnitude of interest rate reductions.

Bank of America CEO urges Fed to not go too hard on rates

US billionaire entrepreneur Elon Musk warned of the risk of the United States going bankrupt if government spending is not cut, reported Sputnik, reported by Bernama-Sputnik.

Budget 2017

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