The two sons of former prime minister Tun Dr Mahathir Mohamad have together declared assets worth RM1.2 billion to the Malaysian Anti-Corruption Commission (MACC), Bloomberg reported on Tuesday.

Mahathir's two sons declare RM1.2 bil assets to MACC — Bloomberg

Pakistan’s cabinet approves change in the Income Tax Ordinance, enabling the nation’s tax collecting agency to levy banks that made “windfall” profits over the past two years, the prime minister’s office says in a statement on Wednesday.

Pakistan imposes 40% tax on bank profits from forex deals

This is to facilitate the redevelopment of strata schemes, to encourage urban renewal, and promote the redevelopment of old buildings in the city.


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Threshold for resident agreement for en bloc sales to be reduced from 100% to consistent level based on international practice, such as in S'pore

This excise duty revenue will be channelled towards addressing and treating diabetes, including to provide support for dialysis centres.


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Excise duty rate for sugary drinks to be raised from 40 sen to 50 sen per litre

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Govt to impose excise duty on chewing tobacco products at 5% rate, RM27 per kg

Govt to extend up to RM2,500 income tax relief for EV charging facility expenses for four years, tax deduction for EV rental cost for two years

Govt to provide RM2.4b to Felda, Felcra and Risda to boost agricommodity activities, socio-economic development for smallholders

RM510m allocated for R&D funds under Mosti, Higher Education Ministry

Govt to relax conditions for Malaysia My Second Home (MM2H) applications to woo foreign tourists, investors

RM47m to improve passenger facilities at Tioman airport, extend existing runway to 1,300 metres

HRD Corp to reallocate 15% of total levy collection to implement the Madani Training programme ― a training programme for MSMEs and vulnerable groups.


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HRD Corp to utilise RM1.6b in 2024 to provide 1.7 million training exercises

Tax of 5%-10% on certain high-value goods (luxury goods), such as jewellery and watches, based on threshold value, but exempted for foreign tourists

To not burden the rakyat, this increase will not cover services such as F&B and telecommunications

Service tax goes up to 8% from 6%, expanded to logistics, brokerages, underwriting and karaoke services

Govt will introduce targeted subsidy system in 2024 — Rafizi at World Bank event

The European Union (EU) is working on a new sanctions package that will target the Russian financial sector in the latest effort by Ukraine’s allies to place pressure on President Vladimir Putin to negotiate a peace deal to end the war.

EU prepares sanctions on third-party banks supporting Russia

KUALA LUMPUR (May 16): Here is a brief recap of some corporate announcements and happenings that made the headlines on Friday:

Maxis Bhd’s (KL:MAXIS) net profit rose 5% to RM371.1 million for the first quarter ended March 31, 2025 (1QFY2025) from RM353 million a year before, thanks most...

Maxis, PIE Industrial, Mi Technovation, CSC Steel, Avillion, MRCB, Hextar Capital, TNB, Magma, Pekat, EG Industries, Samaiden, BTM Resources, Gamuda

New Jersey Transit locomotive engineers started striking early on Friday, triggering a shutdown of the agency’s rail service and disrupting travel for hundreds of thousands of commuters.

NJ Transit train engineers strike, disrupting travel to New York City

Minister of Tourism, Arts and Culture Datuk Seri Tiong King Sing has called for stronger support and investment in Malaysia’s nursing workforce, describing nurses as the “architects of the future healthcare landscape".

Nurses the architects of Malaysia’s future healthcare landscape, says Tiong

Prime Minister Datuk Seri Anwar Ibrahim has called on Islamic nations to strengthen cooperation with their neighbouring countries, taking inspiration from the Asean model.

Anwar urges Muslim nations to embrace Asean-style cooperation 

(May 16): The world’s biggest sugar trader slashed its forecast for a global surplus in the coming season, cautioning that the market was underestimating risks from weather and transportation in top grower Brazil.

Worldwide output in 2025-26 is now expected to outstrip demand by just 40...

World’s top sugar trader slashes estimate for global surplus

Wall Street's main indexes were subdued on Friday, but were still on track for robust weekly gains buoyed by a US-China tariff truce and cooling inflation, while focus was on a pivotal vote on President Donald Trump's tax legislations.

Wall Street flat; set for strong weekly gains on trade optimism

US consumer sentiment unexpectedly fell to the second-lowest level on record and inflation expectations climbed to multi-decade highs amid growing concerns about tariffs.

US consumer sentiment falls close to record low on inflation

The Congress of Unions of Employees in the Public and Civil Services (Cuepacs) has proposed that permanent appointees under the new Public Service Remuneration System (SSPA) be given monthly basis or lump sum options for their retirement payments, subject to conditions and eligibility.

Cuepacs proposes flexible retirement payout options under new SSPA

US housing starts increased in April as a pickup in multifamily home construction more than offset a decline in single-family dwellings caused by elevated inventory.

US housing starts increase in April on pickup in construction of multifamily home 

Avillion Bhd (KL:AVI) plans to raise RM11.5 million through a private placement of 283 million new shares to refurbish one of its main hotels, Avillion Port Dickson. This plan requires shareholders’ approval.

Avillion, owned by late Daim’s son, plans RM11.5m placement to upgrade Port Dickson hotel

The Securities Commission Malaysia (SC) has charged former London Biscuits Bhd executive director and chief executive officer Datuk Seri Liew Yew Chung for submitting false revenue figures and creating false transactions.

SC charges former London Biscuits CEO for falsifying revenue, creating false transactions

Gamuda Bhd (KL:GAMUDA) said on Friday it is buying three plots of land measuring 336 acres combined for RM248.7 million near its current project in Selangor.

Gamuda buying 336-acre land near Gamuda Cove project

Bursa Malaysia Bhd (KL:BURSA), the operator of the country's bourse, said its chief financial officer (CFO) Rosidah Baharom will step down from the role, effective May 17.

Bursa Malaysia CFO Rosidah Baharom to step down after 11 years

Electronic manufacturing services firm EG Industries Bhd (KL:EG) has secured a deal from a US-based firm to supply consumable network and artificial intelligence (AI)-related products for the global market.

EG Industries clinches deal to produce AI-related products for US tech firm

KUALA LUMPUR (May 16): Here is a brief recap of some corporate announcements and happenings that made the headlines on Friday:

Maxis Bhd’s (KL:MAXIS) net profit rose 5% to RM371.1 million for the first quarter ended March 31, 2025 (1QFY2025) from RM353 million a year before, thanks most...

CSC Steel Holdings Bhd (KL:CSCSTEL) posted a 44.2% year-on-year jump in its first quarter net profit, despite weaker revenue, thanks to lower raw material costs.

CSC Steel flags challenging outlook after 44% profit jump on lower raw material costs in 1Q

Samaiden Group Bhd (KL:SAMAIDEN) has secured a RM108.6 million contract to carry out engineering, procurement, construction and commissioning (EPCC) works for the development of a large-scale solar photovoltaic (LSSPV) project.

Samaiden bags RM108.6 mil EPCC job for large-scale solar project

Emerging-market stocks are “the next bull market” as they benefit from a weaker dollar and an economic recovery in China, according to Bank of America Corp’s Michael Hartnett.

BofA’s Hartnett says EM stocks will outperform everything else

Mi Technovation Bhd (KL:MI), a semiconductor solutions provider, reported a 34.4% year-on-year drop in its first quarter net profit, due to unfavourable foreign exchange (forex) movements, lower interest income and increased tax expenses.

Mi Technovation records sharp 1Q profit drop amid forex headwinds

Tropicana Corp Bhd (KL:TROP) has appointed renowned architecture, engineering and urban planning firm Skidmore, Owings &amp; Merrill (SOM) to lead the transformation of its 163-acre Lido Waterfront Boulevard masterplan in Johor.

Tropicana appoints architecture firm Skidmore, Owings & Merrill to design Lido Waterfront Boulevard in Johor

Samaiden Group Bhd (KL:SAMAIDEN) announced the mutual termination of its letter of award (LOA) from BTM Resources Bhd (KL:BTM) for the construction of a 10-megawatt (MW) biomass power plant.

Samaiden, BTM Resources mutually call off 10MW biomass power plant project

PIE Industrial Bhd’s (KL:PIE) net profit jumped 54.8% in the first quarter of 2025, thanks to higher demand from its existing customers and lower provision for slow-moving inventories.

PIE Industrial’s 1Q earnings surge 55% on higher demand, lower provision for slow-moving inventories

Oasis Home Holding Bhd is the latest initial public offering (IPO) to have received lukewarm investor interest, with an oversubscription rate of 0.55 times.

Oasis Home’s ACE Market IPO shares oversubscribed by 0.55 times

The Korea National Oil Corporation (KNOC) — South Korea's state-owned oil and gas company — will join 3D Energi Ltd and ConocoPhillips Australia's joint venture in Australia to hunt for new gas resources in the Otway Basin. 3D Energi is a 9.34%-owned associate of Hibiscus Petroleum Bhd (KL:HIBISCS).

South Korea's KNOC joins Hibiscus associate 3D Energi and ConocoPhillip in Australia gas hunt

Minister of Tourism, Arts and Culture Datuk Seri Tiong King Sing has called for stronger support and investment in Malaysia’s nursing workforce, describing nurses as the “architects of the future healthcare landscape".

Acme Holdings Bhd (KL:ACME) is selling a 5.86-acre parcel together with a building atop in Perai, Penang, for RM22 million cash to Nation Robo Sdn Bhd.

Acme Holdings to sell 5.85-acre land in Penang for RM22m

While Bank Negara Malaysia (BNM) has not cut the gross domestic product (GDP) growth forecasts, most economists see the domestic economic expansion slowing down to the 4% level.

Economists see 2025 GDP growth decelerating to 4% on trade tensions, slower exports

Wall Street's main indexes were subdued on Friday, but were still on track for robust weekly gains buoyed by a US-China tariff truce and cooling inflation, while focus was on a pivotal vote on President Donald Trump's tax legislations.

LEAP Market-listed Matrix Parking Solution Holdings Bhd (KL:MPSOL) has proposed a private placement of up to 30% of its current share base to its major shareholder Alex Chin Wing Wah to raise RM1.8 million for working capital.

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