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

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

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 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

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

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

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

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 there is a very low risk of the government imposing a windfall tax on the rubber glove sector.

RHB: Low risk of windfall tax on rubber glove sector

The US plans to award Micron Technology Inc US$6.1 billion (RM29.14 billion) in grants and as much as US$7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing.

Micron clinches up to US$13.6b in US grants, loans

US Treasury Secretary Janet Yellen said on Thursday the strong dollar reflected the strength of the US economy and high interest rates, insisting that interventions by governments in currency markets were acceptable only in rare circumstances.

Yellen says currency intervention acceptable only in rare situations

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds four entities to Investor Alert List, two being potential clones

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

HLIB is positive on how AME REIT ended the year.

MORNING CALL: 26/4/24

China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.

China prepares UN resolution to tap AI for good

RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

VS Industry poised to continue bullish trajectory, says RHB Retail Research 

RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

YTL Corp eyeing to extend upside movement, says RHB Retail Research 

One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other — Sunday's short trip to arch-rivals Tottenham Hotspur.

Arsenal face derby test with title up for grabs

Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.

UK warns universities about research threat from foreign states

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

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

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EVENING 5: Five things you need to know today

Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

US growth may get revised up, inflation will ebb

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

Infoline Tec Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

Infoline Tec seeks transfer from ACE Market to Main Market

RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla fires back at investor who doesn’t want pay fight in Texas

Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.

Trump advisers discuss penalties for nations that move away from the dollar

Malaysia nevers forget the sacrifices Australian and New Zealand heroes made during the World War II particularly in Sandakan and the lessons of history will be carried forward to the new generation.

Malaysia never forgets sacrifices of Australian, New Zealand war heroes in Sandakan

Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.

Google parent Alphabet announces first-ever dividend, shares soar

One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other — Sunday's short trip to arch-rivals Tottenham Hotspur.

Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990.

Equities fall amid earnings gloom, as persistent inflation lifts Treasury yields

China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.

Budget 2021 Preview

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Budget 2021 Preview

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