Malaysian Rating Corp Bhd (MARC) is expecting higher allocations in development expenditure (DE) and operating expenditure (opex) in the upcoming Budget 2021, although these allocations, as a percentage of Gross Domestic Product (GDP), are expected to be lower at 4% and 18.7% respectively.

In a statement, the ratings agency said the budget balance should also moderate to between -5.5% and -5% of GDP, supported by the economic recovery as well as the fact that fiscal policy had done most of the heavy lifting in 2020. Meanwhile, debt should come in at between 55% and 58% of GDP.

MARC: Higher development expenditure, opex allocations in Budget 2021 expected

Grants and loans, support for marketing and promotion as well as job creation are the top three priorities on the Malaysian creative industries’ wishlist for the upcoming Budget 2021.

Creative industries seek continuation of govt grants in Budget 2021, says poll

The Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) has proposed that the government waive the real property gains tax (RPGT) across all property sectors involving transactions of less than RM10 million in 2021 to stimulate the property market.

Budget 2021: Waive RPGT on all properties below RM10m — PEPS

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said Budget 2021 is not the usual scheme as announced in previous years because the budget this time involves a combination of solutions to support citizens’ livelihoods and the country’s economic growth as it fights against the Covid-19 pandemic.

Budget 2021 unusual as Malaysia bucks economic theory amid Covid-19, says Tengku Zafrul

A windfall tax being imposed on the glove sector in Malaysia will be difficult to execute, opined CGS-CIMB Research, adding that should this materialise in the upcoming Budget 2021, it would likely be a one-off collection or payment to the government.

Difficult to execute windfall tax on glove players, likely a one-off payment to govt, says CGS-CIMB

The government can further encourage companies and institutions to tap into sustainable financing under the upcoming Budget 2021 that will be tabled this Friday (Nov 6), according to Maybank Investment Bank (Maybank IB).

Govt should encourage more corporate players to tap into sustainable financing, says Maybank IB

Mobile food delivery marketplace foodpanda Malaysia is hoping to see digital tax waiver and gig economy worker benefits in the upcoming Budget 2021.

In a statement today, foodpanda Malaysia managing director Sayantan Das said elimination of digital taxes for 2021 would encourage consumer spending online and enable companies to reinvest in Malaysia.

foodpanda hopes to see digital tax waiver, gig economy worker benefits in Budget 2021

Last week, opposition leader Datuk Seri Anwar Ibrahim called for the government to work with the opposition to develop a bipartisan national budget to address the Covid-19 pandemic. If it materialises, it will be the first such budget in Malaysia’s history.

Should it be done? How will it work?

A bipartisan budget and the factors to consider

Prime Minister Tan Sri Muhyiddin Yassin has urged Members of Parliament (MPs) to set aside their political differences and ensure Budget 2021, set to be tabled on Nov 6, is passed, saying the well-being of Malaysians should be put first in the face of the Covid-19 pandemic.

PM urges MPs to put aside political differences, ensure Budget 2021 is passed

Malaysia needs to deliver a more impactful social aid system, given that success in preventing long-term damage of the COVID-19 pandemic to the lives of the children in low-income families “depends on the quality of social policy responses to the particularly vulnerable group in society”, Stephen Barrett, UNICEF Malaysia’s chief of social policy said.

Budget 2021, 12MP need to lift children of the urban poor out of poverty

The National Union of Bank Employees (NUBE) has urged government and opposition lawmakers to jointly urge the finance minister to reinstate the blanket moratorium on bank loans for at least six months through Budget 2021.

Union urges MPs from both sides to jointly seek reinstatement of loan moratorium via Budget 2021

Datuk Seri Anwar Ibrahim says the government and the opposition should work together in developing an effective strategy in the upcoming national budget to address the Covid-19 pandemic.

Anwar calls for bipartisan Budget 2021 to be crafted and tabled to Parliament

The debt ceiling may be raised again to 65% to accommodate Budget 2021, as the level of federal government debt is expected to hit 63.6% of gross domestic product (GDP) next year, said KAF Research.

Debt ceiling could be raised again to 65% to accommodate expansionary Budget 2021 — KAF Research

RHB Investment Bank Bhd said Budget 2021 will be expansionary, albeit at a lower magnitude.

In a Budget 2021 preview today, RHB projected an improvement in the fiscal deficit to 5% of gross domestic product (GDP) in 2021 from 6.5% in 2020, in line with the need for fiscal consolidation.

RHB expects spending on social assistance to remain significant

OM Holdings Ltd’s (KL:OMH) near-term outlook appears cloudy as metal prices soften, while market uncertainties dampen demand for its manganese ore and ferroalloys, said BIMB Securities.

OM Holdings' near-term outlook cloudy as metal prices soften — BIMB

Maybank Investment Bank has warned Asean investors of potential economic turbulence and a surge in trade tensions, amid anticipation of more import tariff hikes if Donald Trump wins a second term as the US president.

Maybank IB tells clients to go defensive, warns of potential economic risks brought by new US president

The liquidator of Semantan Estate (1952) Sdn Bhd, the firm embroiled in the ‘Duta Enclave’ dispute, is appealing against the High Court’s decision on Sept 12 to allow a stay to the Federal Territory Land Registrar of having to register the transfer of ownership from the Malaysian government to the company within three months of its Aug 7 decision.

Semantan Estate liquidator also appealing stay granted to FT Land Registrar

(Nov 5): Standard Chartered Plc is going to use Wise Plc’s payments platform to offer multi-currency money transfers in Asia and the Middle East.

StanChart partners Wise for faster FX transfers in Asia, Middle East

(Nov 4): U.S. equity funds saw substantial outflows in the week to Oct. 30 as investors exercised caution ahead of Tuesday's presidential election and a Federal Reserve policy decision on Wednesday.

According to LSEG data, investors divested a net $5.83 billion worth of U.S. equity...

US equity funds record biggest weekly outflow in five weeks

In the world of sports, football is a mean business and is not for the faint-hearted. In Sir Jim Ratcliffe, Britain’s fourth richest man, and co-owner of Manchester United Football Club, you have someone who means business.

Reviving Manchester United, since the legendary manager Sir Ale...

My Say: With Ten Hag sacked, what now Manchester United?

(Nov 5): China’s top legislative body reviewed a proposal to move some off-balance-sheet debt of local governments to their official accounts, paving the way for the first mid-year increase in the borrowing limit since 2015.

The National People’s Congress Standing Committee met on ...

China reviews debt swap plan as top legislature meeting begins

(Nov 5): Foreign investors are souring on India’s stock market, selling a record amount of shares amid signs the South Asian nation’s post-pandemic economic boom is losing steam.

Record foreign exodus casts a pall over India’s stock market

New Zealand's central bank painted a bleak economic picture on Tuesday, citing rising unemployment and delayed business investment plans due to financial hardships.

New Zealand central bank paints grim economic outlook

Stock markets moved sideways and an uneasy calm settled over currencies and bonds, as investors waited for the US to choose a new leader on Tuesday, with polls showing the contest on a knife edge.

Stocks, dollar on tenterhooks with all eyes on US election day

WHILE equity analysts are mixed on the possible outcome of the much-anticipated US presidential election on Tuesday (Nov 5), they observe that investors are taking a wait-and-see approach since a Democratic or Republican victory will have a different impact on market sentiments and performance.

Trump or Harris win will impact market differently, say analysts

Stock&nbsp;markets&nbsp;moved sideways and an uneasy calm settled over currencies and bonds, as investors waited for the US to choose a new leader on Tuesday, with polls showing the contest on a knife edge.

KUALA LUMPUR (Nov 5): The method for determining the T15 group, the search efforts for flight MH370 and measures taken by&nbsp;the government&nbsp;to address delays in&nbsp;flood mitigation projects&nbsp;will be&nbsp;among highlights of Tuesday’s&nbsp;Dewan Rakyat sitting.

MH370 search efforts, T15 determination method among highlights of Parliament on Tuesday

IHH Healthcare Bhd (KL:IHH) has completed the acquisition of Island Hospital, a 600-bed facility in Penang, for an equity consideration of approximately RM3.9 billion.

IHH Healthcare completes acquisition of Island Hospital in Penang for RM3.9 bil

SEATTLE/MONTREAL (Nov 4): Boeing’s US West Coast factory workers were voting on an improved contract offer on Monday, that could end a seven-week strike and restart most jet production at the troubled planemaker.

Boeing workers vote on wage deal that could end strike

The liquidator of Semantan Estate (1952) Sdn Bhd, the firm embroiled in the ‘Duta Enclave’ dispute, is appealing against the High Court’s decision on Sept 12&nbsp;to allow a stay to the Federal Territory Land Registrar of having to register the transfer of ownership from the Malaysian government to the company within three months of its Aug 7 decision.

Maybank Investment Bank has warned Asean investors of potential economic turbulence and a surge in trade tensions, amid anticipation of more import tariff hikes&nbsp;if Donald Trump wins a second term as the US president.

Stocks failed to gain traction and bonds climbed, with polls continuing to depict a tight race in the US presidential election ahead of the Federal Reserve (Fed) rate decision.

Wall Street shuns risk before coin-toss election

Escalating tensions in the Middle East and US relations with China pose the greatest concerns for Big Oil, according to some of the industry’s top executives.

“The conflict in the Middle East is probably the top risk of all right now,” BP plc chief executive officer Murray Auchincloss said during panel discussion at the Adipec summit in Abu Dhabi. “We operate across five or six countries in the region — we are worried obviously about the security of our people and the security of energy supplies.”

Big Oil chiefs see Middle East conflict, China as top concerns

The public have been reminded to be vigilant with the dissemination of invitations for a meeting on the implementation of a 5G tower project and the Jendela 2 project in Sabah, which will allegedly take place at a hotel in the capital on Tuesday.

MCMC warns about fake invitations for 5G tower and Jendela 2 projects

Several industrial firms in China are eyeing investment opportunities in Labuan, particularly within the island's financial and development sectors.&nbsp;

Minister in the Prime Minister's Department (Federal Territories) Dr Zaliha Mustafa emphasised the significance of these interests, underscoring Labuan’s potential as a viable economic hub in Asia.

Chinese industrial firms interested in Labuan, says Zaliha

A late season tropical storm predicted to intensify into a category 2 hurricane in the US&nbsp;Gulf of Mexico this week could reduce US&nbsp;oil production by about four million barrels, researchers said.

Late season storm could disrupt four million barrels of US oil output, researchers say

ON Tuesday, Nov 5, Americans will go to the polls to elect their 47th president. Incumbent Joe Biden’s four-year term of office ends at noon on Jan 20 next year, when a new president will be sworn in. Since mid-July when Biden, 82, announced that he would not seek re-election, the race has litera...

Who will win the US election and should you care?

A security fence rings a Las Vegas building where Nevada tabulates votes. An Arizona sheriff has his department on high alert to guard against potential violence with drones and snipers on standby. Governors of at least three states have called for National Guard troops to help maintain the peace.

US states worried about election unrest take security precautions

KPMG will lay off&nbsp;4%, or about 330 people, of its audit workforce in the US, a source familiar with the matter said on Monday.

Besides KPMG, Ernst &amp; Young, Deloitte, PricewaterhouseCoopers make up the Big Four of accounting firms.

KPMG to lay off 4% of US audit workforce, source says

Melaka plans to set up a consortium to develop idle farming land for paddy farming to increase its paddy production, said State Rural Development, Agriculture and Food Security Committee chairman Datuk Dr Muhamad Akmal Saleh.

Melaka plans to set up consortium to develop abandoned land for paddy farming

In the world of sports, football is a mean business and is not for the faint-hearted. In Sir Jim Ratcliffe, Britain’s fourth richest man, and co-owner of Manchester United Football Club, you have someone who means business.

Reviving Manchester United, since the legendary manager Sir Ale...

CapitaLand Investment (CLI) announced on Tuesday that it had secured S$261 million (RM865.14 million) capital commitment from a new Japanese capital partner, Mitsui OSK&nbsp;Lines, for its Southeast Asia and India private funds.

CapitaLand Investment raises S$261m for Southeast Asia and India funds

North Korea fired an unidentified ballistic missile towards the sea east of the Korean Peninsula, South Korea's Joint Chiefs of Staff said on Tuesday.

South Korean military detects ballistic missile fired by North

NEW YORK (Nov 4): A consortium of financial technology and cryptocurrency companies including Robinhood, Kraken and Galaxy Digital&nbsp;introduced a joint stablecoin pegged to the US dollar on Monday.

Budget 2021 Preview

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Budget 2021 Preview

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