Budget 2020 is not able to stimulate the Malaysia economy next year as it does not feature any tax relief while the cost of living is expected to continue rising, said former Prime Minister Datuk Seri Najib Razak.

“Budget 2020 is not enough to stimulate the economy, not even materialising their promises. Our plan in the past was to reduce income tax gradually, especially for the middle-income group, and reduce corporate tax, because our corporate tax is higher than Singapore's,” he told reporters at Parliament lobby today.

Budget 2020 not able to stimulate economy, Najib says

PETALING JAYA (Nov 2): The Securities Commission Malaysia (SC) said the Budget 2019 has identified key priorities to support the transition of the Malaysian economy towards a more balanced, sustainable and inclusive growth.

In a press release issued today, it said technology has encoura...

SC supports use of tech such as property crowdfunding platforms in driving economy

PETALING JAYA (Nov 2): It would make more sense for the government to increase the Real Property Gains Tax (RPGT) rates within the first five years instead of imposing a 5% tax rate for Malaysian individuals after the fifth year, said the Association of Valuers, Property Managers, Estate Agents a...

Increase RPGT rates within first 5 years would make more sense, says PEPS

PETALING JAYA (Nov 2): The National House Buyers Association (HBA) has urged the government to take measures to slow down escalating property prices by raising the supply of homes in the affordable housing segment through  government-linked corporations, state economic agencies and  bod...

HBA urges measures to slow down property price growth

PETALING JAYA (Nov 2): The Institute for Democracy and Economic Affairs (IDEAS) senior fellow Dr Carmelo Ferlito has applauded the commitment made by the Real Estate and Housing Developers’ Association Malaysia (Rehda) to reduce house prices by 10% for new projects that are not subject to price c...

IDEAS applauds REHDA’s commitment to lower house prices by 10%

PETALING JAYA (Nov 2): The Malaysian Institute of Estate Agents (MIEA) has described Budget 2019 as a budget with “more answers than questions”.

“At first glance, I feel Budget 2019 is very different from the previous one as it has more answers than questions. The budget has a very clea...

A budget with 'more answers than questions', says MIEA

PETALING JAYA (Nov 2): Kenanga Head of Equity Research Sarah Lim (pictured) said it will be interesting to know how the current government will monitor the selling prices of new houses.

She was commenting on the Budget 2019 announcement that states the Real Estate and Housing Developers...

How will govt monitor new home prices, asks Kenanga

KUALA LUMPUR (Nov 2): The absence of an excise duty hike in Budget 2019 comes as a relief to brewers like Carlsberg Brewery Malaysia Bhd today.

That's because a further hike in excise duties, if any, will lead to a dramatic increase in contraband beers, which already account for approxi...

Carlsberg breathes sigh of relief on no excise duty hike

KUALA LUMPUR (Nov 2): United Oversea Bank (Malaysia) Bhd (UOB) views Malaysia’s higher headline fiscal trajectory as outlined in Budget 2019 as temporary, although it is concerned about execution risks and revenue uncertainties.

“Despite higher fiscal targets, we see it as a temporary d...

Higher fiscal deficit targets seen as temporary

KUALA LUMPUR (Nov 2): The Government will use some RM30 billion in special dividends from  Petroliam Nasional Bhd (Petronas) to partly repay RM37 billion worth of outstanding GST and income tax refunds, said Finance Minister Lim Guan Eng.

Lim has said back in September that the Gov...

Mixed views on taxes refund resolution via Petronas’ cash dividends

KUALA LUMPUR (Nov 2): Following the Government’s guidance of a wider fiscal deficit in 2018 than targeted by the previous administration, rating agencies have voiced concerns over the level of Malaysia’s national debts.

Finance Minister Lim Guan Eng, in presenting Budget 2019 today, ann...

Rating agencies raise concern over widened fiscal deficit in 2018

KUALA LUMPUR (Nov 2): Organisations may not have enough time to implement the new minimum wage by the new year, says recruitment specialist Kelly Services.

“While employees will be celebrating increase in minimum wages from RM1,050 to RM1,100, we are concerned about the impact of this s...

'Short notice for new minimum wage may be problematic for employers'

KUALA LUMPUR (Nov 2): Malaysian Industrial Development Finance Bhd (MIDF) said the initiatives announced in Budget 2019 to assist the Bottom 40% (B40) income earners and measures to improve the well-being of Malaysians will be positive towards reducing the income gap between the rich and the poor...

Budget 2019 measures will help narrow income gap, says MIDF

KUALA LUMPUR (Nov 2): Budget 2019 is likely to improve Malaysia’s social protection system as it balances long-term imperatives with short term economic needs, according to the Employees’ Provident Fund (EPF). 

Notable initiatives under the budget include a reduction in the statuto...

EPF: Budget 2019 improves Malaysia’s social protection

The international trade system needs urgent reforms as the world continues to witness unfair trading practices, said Prime Minister Datuk Seri Anwar Ibrahim.

He highlighted that despite the presence of the World Trade Organisation, the world faces protectionist measures and the imposition of non-tariff barriers also undermines developing nations.

Anwar urges world trade system reforms to address unfair practices

EVEN before the US Department of Government Efficiency (DoGE) formally came into existence last week, fans and critics of both Space X and Tesla billionaire CEO Elon Musk and businessman turned politician Vivek Ramaswamy are poring over everything said, written and tweeted to gain insights into j...

The State of the Nation: What Malaysia can learn from US DoGE discussions

PUTRAJAYA (Dec 2): Prime Minister Datuk Seri Anwar Ibrahim said Malaysia has expressed full support for Timor Leste's accession as a permanent member of  Asean.

Anwar: Malaysia fully supports Timor-Leste’s accession as a permanent Asean member

The Ombudsman for Financial Services (OFS) and Securities Industry Dispute Resolution Centre (SIDREC) are in the final process of merger completion towards the full operation of the Financial Markets Ombudsman Service (FMOS) by 2025, according to Deputy Finance Minister Lim Hui Ying.

She said the merger is aligned with the continuous commitment of Bank Negara Malaysia (BNM) and the Securities Commission to boost the dispute resolution scheme’s effectiveness and accessibility for financial consumers and investors.

OFS-SIDREC merger is in final process of completion

THE FBM KLCI is highly likely to end the year in the positive zone — the first time after three consecutive years of closing lower, barring any unforeseen circumstances that may unfold before the countdown to the new year.

Year to date, the benchmark index has risen almost 10%, although...

Is 1,700-level a reachable target for FBM KLCI?

Shares in Johor-based logistics provider Xin Hwa Holdings Bhd (KL:XINHWA) fell to their lowest on Monday, despite announcing that its cargo transport unit's goods transport licence suspension is set to be lifted a month ahead of schedule.

Xin Hwa shares fall to record low despite early suspension lift of cargo transport unit’s licence

Former prime minister Datuk Seri Najib Razak said that he was neither the only prime minister, nor the first, to hold the minister of finance position concurrently, adding that current PM Datuk Seri Anwar Ibrahim also holds both posts.

1MDB-Tanore: Najib says he's not first PM to hold finance minister post, and not the last, citing his late father and Anwar

KUALA LUMPUR (Dec 2): Permodalan BSN Bhd (PBSN) has announced an interim and final income distribution of 1.60 sen per unit, amounting to RM4.1 million for Amanah Saham Nasional Bhd (ASBSN), effective Nov 30, 2024.

Permodalan BSN announces RM4.1m income distribution for Amanah Saham Nasional

FROZEN food distributor Supreme Consolidated Resources Bhd (KL:SUPREME) will be transferring its listing status to the ACE Market on Friday (Nov 29). Listed on the LEAP Market in January 2019, the Sarawak-based firm’s ACE Market initial public offering (IPO) involves the issuance of 70 million ne...

IPO Watch: Supreme Consolidated to take centre stage on Friday 

T7 Global Bhd (KL:T7GLOBAL) has won a contract from Jadestone Energy (M) Pte Ltd for the provision of Pan-Malaysia maintenance, construction, modification (MCM) and hook-up and commissioning (HUC) services for Package B3.

T7 wins third Pan Malaysia contract with Package B3 from Jadestone Energy

Public Bank Bhd (KL:PBBANK) rose to its highest in more than a month on Monday, after the release of its third-quarter results last Friday, as analysts expect the country’s third-largest bank by assets to further write-backs of loan loss provisions in the coming quarters.&nbsp;

Public Bank climbs over one-month high as analysts see more write-backs in coming quarters

KUALA LUMPUR (Dec 2): The High Court on Monday has deferred in delivering its decision on a class action suit by pensioner Aminah Ahmad against the Public Services Department and the government, to compel them to enforce the Court of Appeal’s (COA) mandamus order, which mandates the government to pay them pre-2013 pension adjustment arrears prospectively from January 2022.

Pension arrears decision: Court postpones judgement on Aminah Ahmad’s case to Jan 16, 2025

KUALA LUMPUR (Dec 2): Sime Darby Property Bhd (KL:SIMEPROP) said it has signed an agreement for a 20-year lease of data-centre facilities to Pearl Computing Malaysia Sdn Bhd for up to RM5.6 billion, beginning as early as 2027.

SimeProp inks data-centre lease agreement worth up to RM5.6b

Press Metal Aluminium Holdings Bhd (KL:PMETAL) jumped on Monday to its highest in more than one month, after the group's third-quarter results beat analysts' expectations last Friday, boosted by higher aluminium prices.

Press Metal shares top one-month high after 3Q surprise, boosted by aluminium prices

CGS International views the recent lacklustre market performance as an excellent buying opportunity, as it&nbsp;sees potential price-earnings (P/E) expansion going into 2025.&nbsp;

CGS sees market dip as prime buying opportunity, predicts P/E growth by 2025

KUALA LUMPUR (Dec 2): In November, the Malaysian manufacturing sector experienced a slowdown as demand conditions remained subdued, according to a statement by S&amp;P Global on Monday.

Malaysian manufacturing saw eased production and new orders in November, while exports rose — S&P Global PMI

LBS Bina Bhd (KL:LBS) surged in early trade on Monday, after the group declared special dividends, subsequent to&nbsp;posting quarterly earnings which were boosted by a one-off disposal gain.

LBS surges in early trade after disposal gain boosts earnings and special dividends

KUALA LUMPUR (Dec 2): Pensioners and army veterans have asked Prime Minister Datuk Seri Anwar Ibrahim to look into their plight, especially those who retired before 2013, as they are receiving less pension over the years, owing to the Pensions Adjustment (Amendment) Act 2013 (PAA 2013), which the courts have declared as being unconstitutional, but no action has been taken as yet by the government to set the matter right.

Are pensioners of ‘lower status’ than judges, ask pensioners and army vets, who want the PM to look into their plight, too

Fresh from having charges dropped in one criminal case, former prime minister Datuk Seri Najib Razak is back again in court, this time defending himself in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.

1MDB-Tanore: Najib takes stand in his defence

The foreign labour market is a lucrative business in Malaysia. Every year, up to 2.7 million foreign workers come into the country seeking employment legally

Alternative Views: How a lucrative immigration IT system survived five prime ministers and is poised to rake in billions

The government has decided to maintain the current price of raw water supplied to Singapore, as Malaysia may fall short of achieving the target of "zero dependency" on treated water from the city state by 2030.

Price of raw water sold to S'pore unchanged, as M'sia still needs treated water from city state — deputy minister

Local institutions were net&nbsp;buyers of Malaysian equities for the fourth consecutive week, with net buying of RM207.7 million last week.

However, this was&nbsp;lower than the RM250.6 million recorded in the week prior.

Foreign investors continue to sell on Bursa for fourth straight week at RM259.8m

Asian stocks rose for a second day, following gains on Wall Street last Friday. The dollar strengthened after US President-elect Donald Trump told BRICS nations not to&nbsp;create a currency&nbsp;to rival the greenback.

Asian stocks follow US gains; Treasuries drop

KUALA LUMPUR (Dec 2): Analysts continued to be divided towards the prospects of banks, despite better-than-expected third quarter results and improving industry indicators, amid intense competition for deposits which could still hit net interest margin (NIM) in the near term.

Analysts divided on prospects for banks after strong 3Q but lifted 2024 earnings forecast

Despite reporting a significant year-on-year (y-o-y) jump in earnings, analysts have cut their earnings forecasts for Velesto Energy Bhd (KL:VELESTO),&nbsp;citing a challenging outlook for the company's rigs in the coming year.

Analysts downgrade Velesto Energy amid weaker charter rates, utilisation ahead

JPMorgan Chase &amp; Co&nbsp;is turning its back on a trend that’s been embraced by many of its Wall Street peers.

JPMorgan rejects transition-finance trend gripping Wall Street

Investors are scrambling to decide if Donald Trump’s impending return to the White House will sustain or derail the rally in emerging-market (EM) bonds witnessed under Joe Biden.

Stocks versus bonds dilemma hits EM investors as Trump returns

Stellantis chief executive Carlos Tavares resigned abruptly on Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year.

Stellantis CEO Carlos Tavares abruptly quits as US Jeep, Ram sales falter

Shares in Johor-based logistics provider Xin Hwa Holdings Bhd (KL:XINHWA) fell to their lowest on Monday, despite announcing that its cargo transport unit's goods transport licence suspension is set to be lifted a month ahead of schedule.

Former prime minister Datuk Seri Najib Razak said that he was neither the only prime minister, nor the first, to hold the minister of finance position concurrently, adding that current PM Datuk Seri Anwar Ibrahim also holds both posts.&nbsp;

Budget 2019

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