DE-CIX, a carrier- and data-centre-neutral internet exchange point headquartered in Frankfurt, Germany, believes that the Malaysian government is becoming more committed to advancing its digital infrastructure and its economy.

Putrajaya more committed to advancing digital infrastructure and economy — DE-CIX

Revised Budget 2023: Full speech of Prime Minister Datuk Seri Anwar Ibrahim

KUALA LUMPUR (Feb 25): RHB Investment Bank Research said consistent with its view, the revised Budget 2023 remains mildly expansionary with no major changes in the policies. The total allocation was revised upward to RM386.1 billion versus RM372.3 billion tabled by the previous government in October 2022.

No major surprises in revised Budget 2023, says RHB IB

Middle-income earners, more commonly known as the M40 group, were specifically mentioned in the revised Budget 2023, as they are also bearing the brunt of the rising cost of living, besides the B40 group.

Revised Budget 2023 offers various perks for M40 group

The revised Budget 2023 strikes a balance between the need to support the economy and the commitment on fiscal consolidation, said OCBC Bank.

Chief economist of OCBC Bank Selena Ling in a statement on Friday (Feb 24) said the budget tabled was in line with market and OCBC’s expectation, with a resolve to see the budget deficit reduced to 5% from 5.6% of GDP in 2022.

OCBC Bank: Revised Budget 2023 supports economy, prioritizes fiscal consolidation

The Federation of Malaysian Manufacturers (FMM) said that the revised Budget 2023 tabled on Friday (Feb 24) by Prime Minister Datuk Seri Anwar Ibrahim lacked support for the manufacturing industry.

“We are disappointed that Budget 2023 has not provided any assistance to support trade for industries to expand their market access as many face severe impact to their existing markets due to the prolonged Ukraine-Russia conflict,” said FMM president Tan Sri Soh Thian Lai in a statement.

FMM: Revised Budget 2023 lacks support for manufacturing

The revised Budget 2023 enables inclusive and sustainable economic growth, instils confidence through institutional and governance reforms, as well as advance social justice, said Khazanah Research Institute (KRI).

Revised Budget 2023 ensures inclusive growth for individuals and corporates, says KRI and ICDM

The government proposed another round of special voluntary disclosure programme (SVDP) with full penalty waiver starting June this year till end-2024.

The Inland Revenue Board and the Royal Malaysian Customs Department will be tasked to revive this programme again, said Prime Minister Datuk Seri Anwar Ibrahim during the tabling of revised Budget 2023 to Parliament on Friday (Feb 24).

Govt proposes new round of tax amnesty with full penalty waiver

Banks in Malaysia believe the Madani Budget has a good balancing act on improving the welfare of the rakyat while supporting the growth of businesses to move Malaysia forward, especially in the post-pandemic era and amid inflationary pressures.

Banks view Madani Budget as having fine balance to help businesses and citizens

The Malaysian Council for Tobacco Control (MCTC) has called on the government to include imposing an excise duty on electronic cigarettes and vaping products that do not contain nicotine as part of the revised Budget 2023 proposals.

In welcoming the government’s move to impose an excise duty on e-cigarettes and vaping products containing nicotine, MCTC said: "The government must also acknowledge that a large part of the e-cigarette and vaping product market consists of products which do not contain nicotine, and the consumption of these products make up a large part of the purported RM2 billion per year income reported by the vape industry.

Consider imposing excise duty on no-nicotine e-cigarettes, vapes, MCTC tells Govt

The Master Builders Association Malaysia (MBAM) urged the government to implement the Mass Rapid Transit Circle Line (MRT3) project, which will allow the construction industry to benefit from the multiplier effect, following the government’s decision to review the project.

Revised Budget 2023: MBAM urges govt to commence MRT3 project to revive construction sector

Some government-linked companies (GLCs) and private companies will take over the Technical Education and Vocational Training (TVET) programme.

Among them are Petroliam Nasional Bhd (Petronas), DRB-Hicom Bhd, Sunway Bhd and Malaysian Resources Corp Bhd, said Prime Minister Datuk Seri Anwar Ibrahim in his speech on the revised Budget 2023.

PM: GLCs and private companies to take over TVET programme

The roll-out of dual-class shares on Bursa Malaysia and capital gains tax on disposal of non-listed shares announced in the revised Budget 2023 may aid in reinvigorating the local capital market, MIDF Research said.

Touching on Putrajaya’s intent to review the implementation of a low-rate capital gains tax on the disposal of non-listing shares, the research house said the measure may attract more listings on the local bourse at the granular level.

Budget 2023 measures may aid capital market’s reinvigoration, says MIDF

The government’s plan to impose capital gains tax on disposal of non-listed shares in 2024 has caught the attention of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), which is concerned that it may eventually be widened to cover other asset classes.

Revised Budget 2023: ACCCIM concerned capital gains tax could be widened to cover other asset classes

Southeast Asia's e-commerce market has undergone significant transformation over the past five years, reaching milestones earlier than expected.

The sector saw rapid growth during the pandemic, hitting US$200 billion in gross merchandise value by 2022 — three years ahead of schedule, according to Google, Temasek and Bain & Company.

Addressing the hidden costs of adaptability in Southeast Asia’s E-commerce and logistics

CVC Capital Partners plc offered to take CompuGroup Medical SE & Co KGaA private in a deal that values the German software provider at €1.18 billion (US$1.2 billion or RM5.3 billion).

CVC offers to take CompuGroup private for US$1.2 bil 

Chinese billionaire Jack Ma rallied his troops during a speech at Ant Group Co’s 20th anniversary, making a rare appearance after a government crackdown forced the financial technology (fintech) giant to scrap what would have been the world’s largest initial public offering (IPO) four years ago.

Jack Ma pushes AI drive in rare speech since Ant crackdown

A summary of how key Bursa Malaysia indices and the ringgit performed on Monday.

FBM KLCI down 0.11% to 1,611.43 on Dec 9, 2024

DAMASCUS (Dec 9): Syrians awakened on Monday to a hopeful if uncertain future, after rebels seized the capital Damascus and President Bashar al-Assad fled to Russia, following 13 years of civil war and more than 50 years of his family's brutal rule.

With Assad ousted, a new era starts in Syria as the world watches

More cases of a mysterious flu-like illness labelled “Disease X” were reported in the Democratic Republic of the Congo, and the World Health Organization (WHO) has dispatched a rapid response team to help investigate.

‘Disease X’ outbreak widens as UN sends health team to Congo

Air fragrance maker Vanzo Holdings Bhd said on Monday that the 23.34 million shares made available to the Malaysian public for its initial public offering (IPO) were oversubscribed by 66.71 times.

Vanzo’s 23.34 mil IPO shares for public oversubscribed by nearly 67 times

Volkswagen AG workers are prepared to escalate walkouts if management and labour leaders fail to break through a stalemate over painful cuts at the carmaker’s namesake brand.

Thousands of VW employees are already poised to walk off their jobs on Monday morning — the second time this month — as management and the powerful IG Metall union sit down for a fourth round of deliberations.

VW faces more walkouts as union talks enter fourth round

The Ministry of Domestic Trade and Cost of Living blocked access to 3,553 websites, found to be in violation of the Copyright Act 1987 for engaging in piracy activities, between 2021 and October 2024.

Govt blocks access to 3,553 websites for copyright infringement

The Dewan Rakyat on Monday passed the Legal Profession (Amendment) Bill 2024 which, among other things, empowers the Auditor-General to audit the accounts of the Malaysian Legal Profession Qualifications Board.

Dewan Rakyat passes Legal Profession (Amendment) Bill 2024

In recent years, Malaysia has emerged as a data centre powerhouse in the Asia-Pacific region, driven by a global surge in demand and an established data centre sector.&nbsp;

With favourable conditions such as the availability of land, cheaper electricity, and an advantageous geographical location, the country has attracted numerous firms to establish data centre operations within its borders.

How Malaysia is setting itself up as an AI hub

In one of his rare interviews in January 1996, the late T Ananda Krishnan said his passion was to go into the business of the future.

Alternative Views: Ananda’s unfinished business leaves much to speculation

The Malaysian Anti-Corruption Commission (MACC) found no wrongdoing within the Human Resource Development Corporation (HRD Corp).

No offences under the MACC Act 2009 had been committed, according to investigators cited in a Public Accounts Committee (PAC) report on the government agency.

No offences found in HRD Corp probe, says MACC

Shares of Kawan Food Bhd (KL:KAWAN) climbed to their highest in nearly five months on Monday, after the frozen food manufacturer announced a venture into distribution of information technology (IT) equipment.

Kawan Food shares climb to near five-month high after news of IT venture

Tenaga Nasional Bhd (KL:TENAGA) and Sembcorp Power Pte Ltd have signed an agreement for the supply of 50 megawatts (MW) of renewable energy to Singapore.

The maiden renewable energy supply from Malaysia to the island-state is the result of the bidding process conducted through Energy Exchange Malaysia (Enegem) in June.

Tenaga, Sembcorp sign deal for supply of 50MW renewable energy to Singapore

US&nbsp;President-elect Donald&nbsp;Trump&nbsp;called on Sunday for an immediate ceasefire and negotiations between&nbsp;Ukraine&nbsp;and Russia&nbsp;to end "the madness", prompting Ukrainian President Volodymr Zelenskiy and the Kremlin to list their conditions.

Trump calls for immediate Ukraine ceasefire, Kyiv and Moscow cite conditions

Industrial services firm Swift Energy Technology Bhd has begun accepting applications from investors for its initial public offering (IPO) that would gross more than RM84 million on the ACE Market.

The IPO, priced at 28 sen per share, involves a public issue of 250.2 million new shares and an offer for sale of 50.04 million existing shares, according to its prospectus. All in, the listing offers investors a 25% stake in the Selangor-based company.

Swift Energy now selling IPO shares at 28 sen apiece for ACE Market listing

As Bashar Al-Assad fled to Moscow, the looters started raiding the presidential palace and people took the streets of Damascus to celebrate his demise. The Syrian president had tried to hang on until the bitter end, still desperately sending an SOS to anyone who would listen, including Donald Trump. The despot had run out of road.

Assad’s fall in Syria puts world on watch for more Middle East chaos

Imprisoned former prime minister Datuk Seri Najib Razak has once again claimed that there was a conspiracy by the US to prevent him from accessing evidence pivotal to mount his defence in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.

Najib now says US Democrats conspired with then-Opposition to suppress evidence pivotal to his defence

Malaysia’s retail sales growth accelerated in the third quarter, an industry research firm said on Monday, flagging faster growth in the next three months due to the year-end holiday season.

Retail sales growth accelerated to 3.8% in 3Q, may hit 4.4% in 4Q — Retail Group Malaysia

Global shares held steady on Monday, as investors took geopolitical tumult in their stride, leaving oil and gold modestly higher, while the dollar edged up ahead of US inflation data this week that could cement a December rate cut.

Stocks firm as US upbeat outlook absorbs geopolitical shocks

Facility management firm GFM Services Bhd (KL:GFM) said on Monday it has signed an agreement to explore a stake in oil-and-gas services firm Shapadu Energy Sdn Bhd for an indicative RM30 million cash.

GFM Services to explore 45% stake in energy services firm Shapadu for RM30m cash

Malaysia’s healthcare sector is set for sustained growth beyond its robust third-quarter results, amid steady increases in both capacity and demand, BIMB Securities said.&nbsp;

The research house, which kept an 'overweight'&nbsp;stance on the sector, expects private hospital operators to "sustain earnings growth of double digits, supported by steady increases in inpatient and outpatient visits”, which are likely to extend into 2025.

Healthy demand, capacity growth to drive healthcare earnings through 2025 — BIMB

Oil&nbsp;prices nudged higher on Monday, as heightened tensions in the Middle East following the overthrow of Syrian President Bashar al-Assad by rebels offset concerns over weak Chinese demand that was highlighted by Saudi Aramco's price cuts to Asian buyers.

Oil edges up as rising Mideast tensions offset demand fears

Former prime minister Datuk Seri Najib Razak said that he supported 1Malaysia Development Bhd's (1MDB)&nbsp;ambitions to acquire independent power producers (IPPs), by bringing down cost of power,&nbsp;for the well-being of Malaysians.

Najib says supported 1MDB's independent power producer ambitions for Malaysia's 'well-being'

US-based Omnicom Group is in advanced talks to acquire rival Interpublic Group in a deal that would create the world’s largest advertising company, The Wall Street Journal&nbsp;(WSJ) reported.

Omnicom, Interpublic in merger talks that would create world's largest ad company — WSJ

A white knight has emerged to take over the development of the stalled Penang World City (PWC) in Bayan Baru, Penang.

The white knight, who is a developer, is said to be in the midst of restructuring Hemat Tuah Sdn Bhd, in which the brother of MBI’s Tedy Teow and associates close to the...

White knight to take over RM10 bil Penang World City project

KUALA LUMPUR (Dec 9): The Public Accounts Committee (PAC) has called on the Malaysian Anti-Corruption Commission (MACC) to explain its investigation into the Human Resource Development Corporation (HRD Corp), which was classified as “no further action" (NFA).&nbsp;

Explain ‘no further action’ on HRD Corp investigation, PAC tells MACC

KUALA LUMPUR (Dec 9): UEM Sunrise Bhd (KL:UEMS) has received planning permit approval for a A$277.8 million (RM784.8 million) build-to-rent development in Collingwood, Melbourne, Australia.

UEM Sunrise gets nod for A$277.8m build-to-rent project in Melbourne

Former Kedah menteri besar Datuk Seri Mukhriz Mahathir told the High Court on Monday that he did not know that his aunt Habsah’s patronym is Mohamad Iskandar.

Budget 2023

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