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

The Malaysian Meteorological Department (MetMalaysia) has issued a continuous rain warning affecting eight states namely Kelantan, Terengganu, Perak, Pahang, Perlis, Kedah, Penang and Johor, until Saturday.

MetMalaysia warns of continuous heavy rain in eight states

BUSAN, South Korea (Nov 29): The chairman of talks aiming for an international treaty to rein in pollution from plastics issued a document on Friday, outlining measures that could furnish the basis of a pact, in an attempt to spur discussions as a Dec 1 deadline approaches.

UN talks struggle for breakthrough on plastics treaty as deadline looms

The sentence against Muar Member of Parliament Syed Saddiq Syed Abdul Rahman in his criminal case was not excessive, partly because as a lawmaker and an "idol" for youngsters, he should be held to a "higher standard", said the judge who convicted the young MP for misappropriation of party funds.

High Court: Sentence in Syed Saddiq's criminal case, which includes two strokes of the cane, not excessive

Malaysia’s gross loan growth accelerated in October, thanks to higher growth in business loans and corporate bonds, the central bank said on Friday.

Credit to the private non-financial sector grew by 5.1% year-on-year in October compared with the 4.8% reported in the previous month, Bank Negara Malaysia (BNM) said in its monthly highlights report for October 2024.

Malaysia's loan growth accelerates in October, BNM data show

Sapura Energy Bhd (KL:SAPNRG) announced on Friday the impending departure of its chairman Datuk Mohammad Azlan Abdullah and chief executive officer Datuk Mohd Anuar Taib.

Sapura Energy announces departure of chairman and CEO

Casual wear giant Uniqlo is facing calls for a consumer boycott in China, after the chief executive officer of the clothing company's owner said it does not source cotton from the Chinese region of Xinjiang, which has faced allegations of forced labour in recent years.

Uniqlo risks boycott in China after CEO's Xinjiang comment

HONG KONG (Nov 28): A consortium including Starwood Capital Group and Warburg Pincus aims to finalise a deal to take ESR Group Ltd private in the coming weeks, valuing the Hong Kong-listed real estate fund manager at more than US$7 billion (RM31 billion), two sources said.

Consortium aims to seal ESR buyout at more than US$7b — Reuters

Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest bank by assets, said on Friday that its net profit rose 12% in the third quarter from a year earlier, thanks to operating income growth.

Public Bank’s 3Q net profit rises 12% as both interest, non-interest income grow

Britain's Transport Minister Louise Haigh has resigned, after pleading guilty to an offence in connection with misleading police over a work mobile phone she said was stolen in 2013, in another blow to Prime Minister Keir Starmer.

UK transport minister quits in new blow to PM Starmer

Protesters clashed with police in the capital of Georgia after the ruling party announced it was delaying talks with the European Union (EU) on the country’s potential membership in the bloc.

Georgian protesters clash with police after EU talks were frozen

Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest bank by assets, said on Friday that its net profit rose 12% in the third quarter from a year earlier, thanks to operating income growth.

Hextar Industries Bhd (KL:HEXIND) said on Friday it has signed an agreement to bring in Chinese coffee house chain Luckin Coffee to Malaysian shores.

Hextar Industries gets exclusive rights to bring in Luckin Coffee chain

Capital A Bhd (KL:CAPITALA) slid in early trade on Friday after the aviation group's third-quarter results, which were mainly boosted by forex gains, came in below most analysts' expectations.

Capital A slides in early trade after forex-boosted 3Q largely misses expectations

The sentence against Muar Member of Parliament Syed Saddiq Syed Abdul Rahman in his criminal case was not excessive, partly because as a lawmaker and an "idol" for youngsters, he should be held to a "higher standard", said the judge who convicted the young MP for misappropriation of party funds.

RHB Bank Bhd (KL:RHBBANK), the country’s fourth-largest lender by assets, announced that its third-quarter net profit grew 28% from a year earlier, as sharp currency gains of RM659.86 million boosted non-interest income.

RHB Bank's 3Q earnings grow 28% 

Shares of Supreme Consolidated Resources Bhd (KL:SUPREME) gained 48% in its trading debut on Friday after the frozen food processor’s initial public offering (IPO) on the ACE Market raised RM17.50 million.

Supreme Consolidated surges 48% on ACE Market debut

A port, a theme park and maybe even a Formula 1 race — those are just some of the things that one of Indonesia’s richest men believes can be hosted at his ambitious real estate project in North Jakarta.

Indonesian tycoon eyes theme park, F1 in US$16b project

CelcomDigi Bhd (KL:CDB) on Friday named Dennis Chia as chief financial officer effective Jan 2, 2025 at the country’s largest mobile network operator by subscribers.

CelcomDigi names ex-StarHub CFO Dennis Chia as new finance chief

Shares of Tenaga Nasional Bhd (KL:TENAGA) fell on Friday to their lowest in nearly four months, after the national electric utility reported weaker-than-expected third-quarter earnings.

TNB falls to near four-month low on weaker-than-expected 3Q

KUALA LUMPUR (Nov 29): Maybank Asset Management Sdn Bhd (Maybank AM)&nbsp;has launched the&nbsp;MAMG Alpha Capital &amp; Income Opportunities Fund&nbsp;to enhance diversification, and deliver both income and capital growth.&nbsp;

Maybank Asset Mgmt partners Fidelity Int’l to launch multi-asset fund

KUALA LUMPUR (Nov 29): Shares of Axiata Group Bhd (KL:AXIATA) rose to a one-month high on Thursday, as investors welcomed a better-than-expected third quarter, while&nbsp;analysts stayed divided amid earnings uncertainties ahead.

Axiata shares rise to one-month high after better-than-expected 3Q, analysts still divided

KUALA LUMPUR (Nov 29): CIMB Group Holdings Bhd (KL:CIMB) is expected to achieve its return on equity (ROE) target for 2024, after its 3QFY2024 results exceeded expectations, analysts said on Friday.

CIMB on track to meet ROE target after 3Q results beat estimates

Asian shares slipped on Friday while the yen was aiming for its best week in four months as strong local inflation data had traders favouring an imminent rate hike from the Bank of Japan (BOJ).

Asian shares slip, yen aims for best week in four months on BOJ hike bets

(Nov 29):&nbsp;A return to profitability in e-commerce for Sea Ltd&nbsp;has analysts turning even more bullish on its stock, after a rally that has added US$43 billion (RM190.9 billion) to its market value so far this year.

Sea’s profit draws bullish analyst calls after US$43b rally

Australia’s controversial new law barring under-16s from social media is one of the toughest crackdowns yet on platforms including Facebook and TikTok as governments worldwide grasp for ways to protect children from harmful content.

TikTok, Meta brace for Australian social media ban fallout

The yen extended gains through the key psychological level of 150 against the dollar as the market priced in a greater chance of the yield gap between the US and Japan narrowing next month.

Yen breaches key 150 level as bets on smaller yield gap increase

France’s benchmark bond yield matched Greece’s for the first time on record, the latest milestone in a week marked by mounting anxiety over the fate of Prime Minister Michel Barnier’s government.

French 10-year borrowing costs match Greece’s for first time

International coffee traders are on tenterhooks after Brazil-based traders Atlantica and Cafebras sought to negotiate with creditors in court, having been hit by a surge in global arabica prices.

Coffee market on tenterhooks after Brazil traders seek creditor protection

European bond issuance has reached a record-breaking €1.705 trillion (US$1.8 trillion or RM8.02 trillion) this year, passing the high-water mark previously set in 2020.&nbsp;

Europe’s €1.705 trillion bond sales in 2024 beat pandemic record

K-pop superstars NewJeans pulled the plug on their partnership with Hybe Co, escalating an unprecedented uprising that’s transfixed South Korea, wiping out as much as 7% of the studio’s value on Friday.

Budget 2023

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