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

Perikatan Nasional (PN) has postponed announcing its candidate for one remaining state seat allocated to the coalition under an understanding with Barisan Nasional (BN) for the 16th Melaka state election.

Perikatan delays announcement of one Melaka state seat candidate

Perikatan Nasional (PN) has announced five candidates for the 16th Melaka state election next month.

Perikatan names five candidates for Melaka polls

Parti Pribumi Bersatu Malaysia (Bersatu) announced eight candidates who will contest in the 16th Melaka state election on Nov 14.

Melaka polls: Bersatu announces candidates for eight seats

Parti Pribumi Bersatu Malaysia (Bersatu) will use its official party logo in the 16th Melaka state election on Nov 14, said its secretary general Datuk Seri Mohamed Azmin Ali.

Bersatu confirms use of own logo in Melaka polls

Cuscapi Bhd (KL:CUSCAPI) saw boardroom changes on Thursday, including the resignation of businessman Datuk Jayakumar Panneer Selvam.

Cuscapi sees boardroom changes as businessman Jayakumar resigns

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

Big Caring, Zetrix AI, Heitech Padu, SD Guthrie, YTL Power, Mega Fortris, GIIB, JF Technology, TSH Resources, BAT Malaysia, Mi Technovation, Axis REIT, Chin Teck Plantations, Taghill &SLGC 

The cost of insuring against losses on Alphabet Inc’s debt rose on Thursday as its shares plummeted, after disappointing results intensified fears that its massive bet on debt-funded artificial intelligence (AI) spending may fail to pay off.

Google debt-risk gauge rises as earnings revive AI debt jitters

Mi Technovation Bhd (KL:MI) posted record earnings in the third quarter ended Sept 30, 2026 (3QFY2026), driven by higher sales volume, improved average selling prices and optimised product mix.

Mi Technovation 3Q profit surges 85% on strong semiconductor demand

SD Guthrie Bhd (KL:SDG) has partnered with YTL Power International Bhd (KL:YTLPOWR) and Bumi Assets Sdn Bhd to develop a 1,623-acre industrial park in Bukit Kerayong, Selangor.

SD Guthrie to join hands with YTL Power, Bumi Assets to develop 1,623-acre Klang industrial park

Oil eased as fresh diplomatic efforts in the Middle East eroded some risk premium associated with a resumption of US military strikes on Iran.

Oil slides as traders weigh signs of tentative Iran diplomacy

The Court of Appeal (COA) has reversed a High Court decision and granted leave (permission) for lawyer Rosli Dahlan to challenge the Police and the Public Prosecutor's move to seize his four Amanah Saham Nasional Bhd (ASNB) accounts under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds from Unlawful Activities Act (AMLA).&nbsp;

Court of Appeal gives green light for lawyer Rosli Dahlan to challenge Public Prosecutor's move to seize his ASNB accounts

GENTING Bhd (KL:GENTING) made a cash call on Oct 9 to raise RM1.25 billion — 53 years after its first one.

The conglomerate, which was listed in 1971, called for a rights issue in 1973.

At that time, Genting’s call for more cash from shareholders was acceptable. It was a perio...

Cover Story: No further fundraising planned for now, says Genting 

Zetrix AI Bhd (KL:ZETRIX) told Bursa Malaysia in response to its queries that a dissolution event for its RM2 billion sukuk was triggered after it breached a covenant requiring managing director Wong Thean Soon to remain its largest shareholder.

Zetrix AI tells Bursa dissolution event for RM2 bil sukuk triggered but no immediate repayment of RM2.16 bil required

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Summary

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	<li>Long considered a safe- haven stock by retail investors, Genting Bhd’s status as a cash cow diminished after the company called for...

Cover Story: Debt repayment looms for Genting

SD Guthrie Bhd (KL:SDG) has partnered with YTL Power International Bhd (KL:YTLPOWR) and Bumi Assets Sdn Bhd to develop a 1,623-acre industrial park in Bukit Kerayong, Selangor.

A total of 13 members of Parliament, including former prime minister and Bersatu president Tan Sri Muhyiddin Yassin and Muda’s Syed Saddiq Syed Abdul Rahman, signed a confidence-and-supply agreement (CSA) with the federal government on Thursday, strengthening Prime Minister Datuk Seri Anwar Ibrahim’s position in Parliament.

Govt signs confidence-and-supply deal with 13 MPs, including Muhyiddin and Syed Saddiq, strengthening support for Anwar 

Zetrix AI Bhd's (KL:ZETRIX) wholly owned unit MyEG Sdn Bhd has received a RM353.13 million tax bill from the Inland Revenue Board (IRB) over transfer pricing matters for the years of assessment 2021 to 2023.

Zetrix AI’s MyEG unit hit with RM353.13 mil tax bill, govt files suit

Investors flocked to SKA Capital Bhd’s initial public offering (IPO) ahead of its ACE Market listing, with demand exceeding the shares available to the Malaysian public by 80.42 times.

SKA Capital’s ACE Market IPO oversubscribed by 80.42 times

Property developer Parkland Bhd has secured approval from the Securities Commission Malaysia for its proposed listing on the Main Market.

Parkland: Regulator green-lights Main Market IPO

Big Caring Group Bhd, Malaysia’s biggest pharmacy chain operator en route to the Main Market, said it is aiming to add up to 50 stores annually over the next five years.

Big Caring aims to add up to 50 stores a year in next phase of growth

FROM a single casino in Genting Highlands, established by the late Tan Sri Lim Goh Tong in the 1960s, the Genting group has grown into a diversified conglomerate with interests spanning gaming, hospitality, leisure and property. It now has gaming operations in multiple markets worldwide.

<...

Cover Story: As the group expanded, so too did its debt burden 

British American Tobacco (Malaysia) Bhd (KL:BAT) reported a 66.54% decline in net profit for the third quarter amid higher restructuring expenses.

BAT Malaysia 3Q net profit falls 67% as restructuring costs bite

The government is gathering industry feedback on a proposal to temporarily suspend crude palm oil (CPO) export duties to ease stock pressure and boost exports, Plantation and Commodities Minister Datuk Seri Dr Noraini Ahmad said.

Govt gathering industry feedback on proposal to suspend CPO export duties — minister

HeiTech Padu Bhd (KL:HTPADU) said it is no longer collaborating with Zetrix AI Bhd (KL:ZETRIX) on the RM1.05 billion National Integrated Immigration System (NIISe) project, after both parties mutually agreed not to extend their teaming agreement.

HeiTech Padu says no longer working with Zetrix AI on NIISe, assures no impact on project

Two companies linked to businessman Datuk Ng Meng Kee saw sharp declines in their share prices on Thursday, prompting Bursa Malaysia to query one of them.

Two companies linked to businessman Ng Meng Kee see sharp dive in share price, Bursa queries one of them

This year is an exciting year for investors, with the initial public offerings (IPOs) of some of the world’s most exciting technology companies, including Space Exploration Technologies Corp (SpaceX) and the upcoming artificial intelligence (AI) firm Anthropic.

Getting a slice of Anthropic before its IPO

One of the three Court of Appeal (COA) judges hearing the federal government’s appeal over the Sabah revenue issue on Thursday quizzed parties as to what had transpired between the federal and Sabah governments between 1969 to 2021 that had resulted in them not agreeing to a review between them to increase the state’s revenue.

What happened during 'the lost years', asks COA judge on decades-delayed Sabah-federal revenue review

Australian mining and materials company, Lynas Rare Earths Ltd is planning a month-long &nbsp; shutdown of its Malaysian processing plant in the quarter ending in December, but is confident it has enough stockpiles to meet customer demand.

Lynas to shut Malaysia plant for a month, but confident stockpiles can fulfil orders

Geely Automobile Holdings Ltd’s third-quarter performance failed to convince investors concerned about a worsening outlook in the Chinese manufacturer’s main export markets. 
&nbsp;

Geely's profit fails to soothe investor worries about Europe

The federal government will continue to implement the sales and service tax (SST), as the goods and services tax (GST) will not be considered due to the ongoing burden of the cost of living.

Budget 2017

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