Walmart said on Tuesday it had formed a strategic partnership with Meituan under which the Chinese firm has begun providing delivery services for Walmart goods and the US company will be featured on its popular app.

Walmart teams up with delivery firm Meituan in bid to boost China e-commerce sales

(Dec 17): Tyme Group, a digital lender controlled by South African billionaire Patrice Motsepe, raised US$250 million (RM1.11 billion) in a funding round that made it one of Africa’s few unicorns.

Tyme valued at US$1.5b with backing from fellow fintech Nu

Since Tera Feng started documenting her enviable Shanghai lifestyle, including visits to art galleries and fashion events on Chinese social media eight years ago, she has built up a following of more than 500,000 people.

China's Instagram-like Xiaohongshu making inroads with e-commerce sales

Mitsubishi UFJ Financial Group Inc (MUFG) plans to buy Japanese robo-adviser WealthNavi Inc for as much as ¥99.7 billion (US$665 million or RM2.96 billion), as it looks to expand its financial technology (fintech) capabilities and cater to households going online to invest more of their savings.

MUFG offers to buy robo-adviser WealthNavi in fintech push

Alibaba has raised US$5 billion (RM22.3 billion) in a dual-currency bond, China's biggest e-commerce company said on Wednesday, marking the largest deal of its kind in the Asia-Pacific this year.

Alibaba raises US$5b in dual currency bond deal

KUALA LUMPUR (Nov 19): Bank Negara Malaysia (BNM), in collaboration with the Bank for International Settlements (BIS) and four other central banks, is advancing Project Nexus to enhance the efficiency of instant payment systems (IPS) for seamless cross-border transactions globally, with full operations expected by 2027.

BIS partners BNM, four other central banks to advance Project Nexus for global cross-border instant payments

China's biggest e-commerce company Alibaba Group is aiming to raise US$5 billion (RM22.3 billion) in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter.

Alibaba aims to raise US$5b in dual currency bond deal — Reuters

SINGAPORE  (Nov 7): An updated version of Singapore’s unified QR code, which will consolidate all payment needs with a single merchant acquirer, has been rolled out by the Network for Electronic Transfers (NETS).

Network for Electronic Transfers launches updated version of Singapore’s unified QR code SGQR+

SINGAPORE (Nov 6): The Land Transport Authority of Singapore (LTA) will be piloting a blockchain-based conditional payments solution from Oversea-Chinese Banking Corpo­ration (OCBC), to disburse mobilisation advance payments efficiently with greater transparency to its main contractors.

Singapore’s Land Transport Authority to pilot blockchain-based conditional payments solution with OCBC

SINGAPORE (Nov 6): Against the backdrop of one of the tightest US presidential elections in history, the ninth edition of the Singapore Fintech Festival (SFF) kicked off on Tuesday (Nov 5).

MAS’ Global Finance & Technology Network expands on four key strategic biz at Singapore Fintech Festival

(Nov 6): JPMorgan Chase & Co will soon offer instant settlement for foreign-exchange (FX) conversions between the dollar and the euro via its Kinexys blockchain platform and plans to add sterling to the service over time.

JPMorgan to offer instant dollar-euro settlement via blockchain, plans to add sterling over time

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 with Wise for faster FX in Asia and Middle East

Superscrypt, a blockchain venture capital company backed by Temasek Holdings Pte Ltd, plans to raise up to US$100 million (RM437.75 million) for its second investment fund, according to people familiar with the matter.

Temasek-backed blockchain fund eyeing US$100m fundraise — Bloomberg

SINGAPORE (Nov 1): UBS Asset Management has announced the launch of its first tokenised investment fund, UBS USD Money Market Investment Fund Token (uMINT), in a press release on Friday.

UBS Asset Mgmt announces launch of its first tokenised investment fund

Canadian Prime Minister Justin Trudeau, whose party looks set to lose power early next year, is under increasing pressure from his own legislators to step down and let someone else take over.

Canada's Trudeau faces increasing pressure from his own MPs to quit

Nordstrom Inc is going private through an all-cash transaction valued at about US$6.25 billion (RM28.16 billion) in a bet by the founding family that the department-store company will be more successful without the scrutiny and demands of the public market.

Founding family to take Nordstrom private in US$6.25 bil deal

Germany searched on Monday for answers on possible security lapses after a man drove his car into a Christmas market, killing at least five people and casting a renewed spotlight on security and immigration ahead of a snap election.

Germany probing possible security lapses after Christmas market attack

Amtrak railway service across the Northeast Corridor faced delays and cancellations on Monday, causing chaos for passengers travelling ahead of the holidays.

Travellers should expect a “significant delay” in and out of New York Penn Station as the rail network seeks to recover from signal power issues, according to a statement on Amtrak’s website.

Amtrak riders face delays as trains cancelled service along Northeast

A businessman lost over half a million ringgit after being deceived by an individual impersonating a representative from Tenaga Nasional Bhd (TNB) on Saturday.

Nilai district police chief Supt Abdul Malik Hasim said that at 11.17am on Monday, his department received a report from a 31-year-old man who had received a phone call from the scammer regarding his business premises.

Businessman, nurse fall prey to scammers, lose almost RM1 mil

EVENING 5: Five things you need to know today

EVENING 5: KLCC Holdings to develop 486 acres of Bandar Malaysia

The Covid-19 and influenza situation in Malaysia remains under control, with no increase in cases requiring intensive care unit (ICU) treatment and no fatalities reported.

Covid-19, flu cases under control in Malaysia — MOH

Thailand will increase the daily minimum wage by an average 2.9% to between 337 baht and 400 baht (RM44.19-RM52.45) from Jan 1, a senior official said on Monday.

Thailand to raise daily minimum wage by 2.9% from Jan 1, official says

Greenland is not for sale, its elected leader said on Monday, responding to comments made by US President-elect Donald Trump regarding the "ownership and control" of the vast Arctic island that has been part of Denmark for over 600 years.

Greenland is not for sale, its leader says in response to Trump

KLCC (Holdings) Sdn Bhd, a unit of national oil and gas company Petroliam Nasional Bhd (Petronas), on Monday said that it has acquired 486 acres of Bandar Malaysia land for an undisclosed price.

KLCC Holdings to develop 486 acres of land acquired from Bandar Malaysia

Oversea-Chinese Banking Corp Ltd will give a one-off payment to junior employees globally for the second year in a row to alleviate ongoing cost-of-living pressures.

OCBC junior staff to receive S$7.5 mil cost-of-living payout

Shares of Top Glove Corporation Bhd (KL:TOPGLOV) may have little upside as valuations stretched with the recent rally in share prices while earnings outlook remained clouded by both costs and sales concerns.

Top Glove shares may have little further upside amid stretched valuations, outlook cloudy — analysts

Tuju Setia Bhd (KL:TJSETIA) has secured a contract worth RM389 million to build serviced apartments in Wangsa Maju, Setapak.

The contract involves construction of two blocks of 52-storey serviced apartments with 17 levels of automated car park, with rooftop facilities and common facilities&nbsp;at ground floor under the Milla Residence, the company said in a statement.

Tuju Setia wins RM389 mil construction contract

1Malaysia Development Bhd (1MDB), the former Malaysian sovereign wealth fund embroiled in one of the largest financial scandals in history, and its subsidiaries have initiated legal claims exceeding US$1 billion (RM4.5 billion) against Hong Kong-headquartered corporate services provider Amicorp Group and its co-founder and chief executive officer Toine Knipping.

1MDB files US$1 bil suit in BVI against Amicorp Group over role in US$7 bil fraud

HeiTech Padu Bhd (KL:HTPADU) said on Monday that its group managing director and group chief executive officer, Salmi Nadia Mohd Hilmey, is resigning voluntarily&nbsp;from all positions within the company, effective from Dec 31.

HeiTech Padu deputy chairman's daughter relinquishes all positions

The government on Monday announced an additional rooftop solar quota under the net energy metering (NEM) mechanism for households (NEM Rakyat) and the commercial and industrial segment (NEM Nova).

Govt adds rooftop solar quota again; household rebate extended until April

As of the third quarter of 2024, highway-related projects awarded to Bumiputera contractors, in Grades G1 to G7, have reached RM15.09 billion, nearly matching the RM15.1 billion allocated to the group last year, said Deputy Works Minister Datuk Seri Ahmad Maslan.

RM15.09 billion highway-related projects awarded to Bumiputera contractors — Ahmad Maslan

International Finance Corporation (IFC) and a consortium of six global financial institutions will lend over US$900 million (RM4 billion) to US-based Yondr for the construction of its data centre in Malaysia.

World Bank's IFC, consortium lend over US$900 mil to Yondr for data centre in Malaysia

Capital A Bhd is expected to exit Practice Note 17 (PN17) status by the first quarter of next year after submitting its proposed regularisation plan to Bursa Malaysia Securities Bhd on Monday.

Capital A to exit PN17 status by 1Q2025, says CEO

Malaysia’s listed companies must prepare sustainability reporting in their annual reports using the IFRS’ Sustainability Disclosure Standards, Bursa Malaysia announced on Monday.

Listed cos must prepare sustainability reporting using IFRS standards, says Bursa

The High Court has dismissed Youth and Sports Minister Hannah Yeoh's libel suit against former inspector general of police Tan Sri Musa Hassan over his comments that she was trying to turn Malaysia into a “Christian nation”.

High Court Judicial Commissioner Arziah Mohamad Apandi in a decision delivered on Monday said that the Segambut Member of Parliament (MP) failed to establish essential elements in a defamatory suit and that there was no malice in Musa's statement. She awarded costs of RM40,000 to Musa.

Court dismisses Hannah Yeoh's suit against former IGP over 'Christian nation' comment

ECM Libra Group Bhd’s (KL:ECM) 50%-owned unit OHG Services Sdn Bhd will pay Malaysia Airports (Sepang) Sdn Bhd RM29.9 million to extend its concession agreement to manage and operate a 'limited-service hotel' at the Kuala Lumpur International Airport (KLIA) for another 35 years.

ECM Libra unit pays RM30m to extend hotel concession in KLIA for another 35 years

Tun Musa Aman was not a contender for the position of Yang Dipertua Negeri of Sabah as there were others, such as current chief minister Datuk Seri Hajiji Noor, in the running. His name only cropped up one month ago as a replacement for Tun Juhar Mahiruddin, whose term ends this month.

...

Alternative Views: Musa Aman’s comeback spells new chapter for Sabah politics

Public approval for Prime Minister Datuk Seri Anwar Ibrahim rose to 54% after two years in power, according to the latest polling published by the research house Merdeka Center last Friday.

Public approval for Anwar, unity govt rises in second year, survey shows

Capital A Bhd is in discussions with aircraft manufacturers Airbus, Embraer and Comac to purchase new aircraft as part of its expansion strategy for its airline operations under the AirAsia brand.

AirAsia in talks to buy new aircraft as part of expansion strategy — Tony Fernandes

Malaysia has been ranked first among regional peers in Southeast Asia in Knight Frank’s SEA-5 Data Centre Opportunity Index for the second consecutive year with an annual take-up of 429 megawatts (MW).

Knight Frank: Malaysia continues to lead regional data centre index

Two commercial projects by S P Setia Bhd (KL:SPSETIA) namely Pines Avenue at Setia EcoHill 2 and Baris Place 2 at Setia Mayuri, both located in Semenyih, Selangor, have been fully taken up, according to a statement on Monday.

Two recently launched commercial projects in Semenyih by S P Setia fully taken up

Power and water company Malakoff Corp Bhd (KL:MALAKOF) has redesignated its executive vice-chairman Tan Sri Che Khalib Mohamad Noh as non-independent non-executive chairman, effective from January 2025.

Malakoff redesignates Che Khalib as non-executive chairman

Local institutions continued to support Bursa Malaysia for the ninth consecutive week, recording net equity purchases of RM1.05 billion last week, according to MIDF Research.

This was an increase from the net inflow of RM995.5 million in the preceding week.

Fintech

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