Budget 2021 was formulated with a balancing act in mind, a treasury official said today, adding that it is important for the government to spend on development expenditure to stimulate new growth in the country.

Budget 2021 formulated with balancing act in mind — MoF

The government is allocating RM322.5 billion for Budget 2021, or 20.6% of the country’s gross domestic product, higher than the previous year’s allocation of RM297 billion.

Operating expenditure (OE) will account for 73.3%, or RM236.5 billion of the government’s expenditure, while development expenditure (DE) will be at RM69 billion or 21.4% of the Budget. On top of that, there is a new item — another RM17 billion or 5.3% of the amount will be reserved for the COVID-19 Fund.

Government to allocate RM322.5b in Budget 2021

Smile-Link Healthcare Global Bhd (KL:SMILE) is seeking a temporary suspension of trading of its shares, on the same day it announced it is unable to release its latest audited financial statements.

Smile-Link seeks trading suspension, says unable to release audited statements due to outstanding fee 

Integrated logistics solutions provider Tasco Bhd (KL:TASCO) saw its net profit fall 48.7% to RM8.13 million for its second financial quarter ended Sept 30, 2024 (2QFY2025) from RM15.85 million a year earlier, on the back of a lower contribution from its supply chain solutions (SCS) division within the international business solution (IBS) segment.

Tasco 2Q net profit down 49%, sees challenging operating environment ahead

The federal government plans to open up bids from the private sector as an alternative financing approach to help reduce the cost borne by the government to address the issue of high non-revenue water (NRW) in Malaysia, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

Govt to tap private sector to curb water loss

1Malaysia Development Bhd (1MDB) spent over RM300 million in the last five years, between Aug 30, 2019 and Aug 30, 2024, mainly on legal fees in its efforts to recover its assets, the High Court heard on Tuesday.

1MDB spent over RM300 mil on legal fees to recover its assets since 2019, court told

KUALA LUMPUR (Oct 29): Fortified food and supplement maker OB Holdings Bhd (KL:OBHB) ended 4.17% higher on its ACE Market debut, the same as its opening price when trading kicked off.

OB Holdings ends maiden trading day on Bursa with flat 4.17% gain

European shares edged higher on Tuesday as investors girded for three days of megacap tech earnings reports on Wall Street, while the dollar held near a three-month high before key labour market data.

European shares nudge higher, dollar steadies before megacap earnings, jobs data

The International Air Transport Association (IATA) announced that it will offer digital currencies in the financial settlement systems it operates for the aviation industry.

The first digital currency to be offered is the digital renminbi, which will be available in the China Billing and Settlement Plan (BSP) by year-end, it said in a statement on Tuesday.

IATA to offer digital currencies in financial settlement systems

Porsche AG staff at the German carmaker's site in Stuttgart will join a wave of strikes in key German industries on Tuesday, said IG Metall union's local branch, as part of national action planned to push for higher pay.

Porsche staff to join wave of strikes in key German industries

The police are still baffled by the booming sound that rattled Ipoh on Oct 21, which left many residents shocked and worried.

Deputy Inspector General of Police Datuk Seri Ayob Khan Mydin Pitchay said the police are continuing their investigation into the incident.

Ipoh loud bang remains a mystery, probe ongoing, says deputy IGP

(Oct 29): Colin Bell, who is stepping down from running HSBC Holdings Plc’s European operations at the end of the year, will join the board of Singapore-based investment firm Serendipity Capital.

Departing HSBC Europe exec to join Serendipity Capital board

KUALA LUMPUR (Oct 29):&nbsp;Prime Minister Datuk Seri Anwar Ibrahim said on Tuesday that the proposed 2% tax will apply to dividends income received from both listed and privately held companies.

PM: 2% tax to apply to dividends from both listed and private firms

Malayan Banking Bhd (KL:MAYBANK) has officially named insider Michael Oh-Lau as the head of its investment banking operations in Malaysia, on top of his regional role.

Maybank IB officially names Michael Oh-Lau as CEO

Shares of fortified food and supplement maker OB Holdings Bhd (KL:OBHB) rose 4.17% on their ACE Market trading debut on Tuesday.

OB Holdings edges higher on ACE Market debut after RM29 mil IPO

The federal government may consider handing over undeveloped land within the disputed Duta Enclave — a 263.27-acre (106.54-hectare) plot in Mukim Batu — to Semantan Estate (1952) Sdn Bhd, Prime Minister Datuk Seri Anwar Ibrahim said.

Govt may hand over undeveloped Duta Enclave land to Semantan Estate, conditional upon collaboration with GLCs — PM

Tun Dr Mahathir Mohamad, the 99-year-old statesman&nbsp;known for his quick wit and sharp, poignant, and direct remarks throughout his years as the country's prime minister, demonstrated just that a day after being discharged from the National Heart Institute (IJN).

I am no 'kacang putih' seller, but a leader of a party and country, Mahathir tells court

Aluminium products manufacturer Winstar Capital Bhd said on Tuesday it has secured an approval from Bursa Malaysia for its ACE Market listing.

Winstar Capital gets Bursa's nod for ACE Market listing by year end

General insurer LPI Capital Bhd (KL:LPI) said on Tuesday its net profit rose 27% in the third quarter ended Sept 30, 2024 (3QFY2024)&nbsp;from a year earlier, thanks to higher investment returns and lower reinsurance expenses.

LPI Capital's 3Q net profit rises 27% on higher investment returns, lower reinsurance expenses

Targeted subsidies for RON95 petroleum and the mechanism that will be used regarding the implementation of the 2% tax on dividend income exceeding RM100,000 for an individual shareholder are among the matters that will be discussed in the Dewan Rakyat on Tuesday.

Targeted RON95 subsidies, dividend tax, Duta Enclave land title in focus for the day

Apple Inc’s iPhone exports from India jumped by a third in the six months through September, underscoring its push to expand manufacturing in the country and reduce dependence on China.

Apple ships US$6b of iPhones from India in six months, as it shifts manufacturing from China

KUALA LUMPUR (Oct 29): Fortified food and supplement maker OB Holdings Bhd (KL:OBHB) expects annual production capacity to more than double with the completion of a new factory in Serendah, Selangor.

OB Holdings to more than double production capacity with new factory

The Biden administration finalised restrictions on investments by US individuals and companies into advanced technology in China, including semiconductors, quantum computing and artificial intelligence.&nbsp;

Biden finalises curbs on US investment in Chinese chip, AI tech

European shares edged higher on Tuesday as investors girded for three days of megacap tech earnings reports on Wall Street, while the dollar held near a three-month high before key labour market data.

JAKARTA (Oct 28): Malaysian state energy firm Petroliam Nasional Bhd (Petronas) plans an "aggressive" expansion in Indonesia that will see it create a hub for its operations in East Java, and invest in exploration in the country's far-flung eastern regions, its Indonesia head said on Monday.

Petronas plans significant expansion in Indonesia, country head says

Kumpulan Kitacon Bhd (KL: KITACON) has secured a contract worth RM131.9 million to build terraced houses in Bandar Puncak Alam, Ijok, Selangor, for Tropicana Alam Sdn Bhd, a unit of Tropicana Corp Bhd (KL:TROP).

Kumpulan Kitacon secures RM131.9 mil residential buildings job from Tropicana unit

Singapore-based steel firm Green Esteel Pte Ltd will emerge as Southern Steel Bhd's (KL:SSTEEL) new controlling shareholder after completion of its proposed issuance of 752.06 million new shares, which represents 50.1% of Southern Steel's enlarged issued capital, to Esteel for 42 sen apiece or a total of RM315.86 million.

Singapore's Green Esteel one step closer to becoming Southern Steel's controlling shareholder

Singapore’s state-owned investment firm is warning that a Donald Trump election victory might not necessarily be a plus for the world economy and financial markets.

Singapore’s Temasek says Trump win would slow global growth

The High Court is set to deliver its decision on Wednesday on whether imprisoned former prime minister Datuk Seri Najib Razak has a case to answer for in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial or whether he will be acquitted.

D-Day for Najib on whether he will be called for defence or acquitted in 1MDB-Tanore trial

HSBC Holdings beat third quarter profit expectations on Tuesday thanks to rising wealth and wholesale banking revenue, but kept investors waiting for more detail on how a sweeping overhaul of its structure will deliver cost savings.

HSBC coy on cost savings of revamp as quarterly profit tops expectations

IOI Properties Group Bhd (KL:IOIPG) has unveiled the 100-acre integrated development IOI Rio City located within its Bandar Puteri Puchong township in Puchong, Selangor, at a media showcase held at the Four Points by Sheraton Puchong on Tuesday.&nbsp;

IOI Properties unveils RM12 bil IOI Rio City integrated development at Bandar Puteri Puchong

Frontken Corp Bhd (KL:FRONTKN) net profit surged 32% in its latest quarter ended September, as strong demand for its products drove revenue and utilisation higher at its Taiwan facility.

Budget 2021 Highlight

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Budget 2021 Highlight

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