KUALA LUMPUR (Nov 21): Malaysia’s central bank made two unusual changes to the government bond auction calendar by rescheduling a tender set for this month, and scrapping another pencilled in for December.

BNM reschedules govt bond auction, scraps one issue in unusual move

Malaysian business ventures in Vietnam have exceeded US$13 billion (RM58.2 billion) in value, according to Prime Minister Datuk Seri Anwar Ibrahim.

Value of Malaysian business ventures in Vietnam over US$13b, says Anwar

North Korea and Russia have signed a protocol on cooperation after meetings covering trade, the economy, science and technology in Pyongyang, North Korean state media KCNA said on Thursday.

Russia, North Korea agree to boost charter flights after trade meeting, TASS and KCNA say

KUALA LUMPUR (Nov 21): E-services provider MyEG Services Bhd’s (KL:MYEG) earnings are expected to continue to be boosted by contributions from its Zetrix-related applications, prompting an earnings upgrade from at least one analyst.

Zetrix-related services to continue to boost MyEG’s earnings — analysts

BANGKOK (Nov 21): Thailand's economy is expected to grow 2.7% this year, helped by an anticipated annual rise of 28% in foreign visitors to 36 million, Prime Minister Paetongtarn Shinawatra said on Thursday.

Thai economy to grow 2.7% this year, beat 2025 forecast, PM says

JAKARTA (Nov 21): Indonesia's current account deficit narrowed to 0.6% of gross domestic product (GDP), or US$2.2 billion (RM9.82 billion) in the third quarter of this year (3Q2024), from 0.9% of GDP in the previous quarter, the central bank said on Thursday.

Indonesia’s 3Q2024 current account deficit narrows to 0.6% of GDP

Chinese government advisers are recommending that Beijing should maintain an economic growth target of around 5% for next year, pushing for stronger fiscal stimulus to mitigate the impact of expected US tariff hikes on the country's exports.

China advisers call for steady 5% 2025 economic growth goal, stronger stimulus 

Japanese Prime Minister Shigeru Ishiba is set to unveil a US$140 billion (RM626.3 billion) economic stimulus package to address a range of challenges from inflation to wage growth, following his election promises to alleviate a cost-of-living crunch.

Japan’s Ishiba set to announce US$140b stimulus package 

Chinese electric car maker Xpeng is expected to break even sometime later in 2025, its president Brian Gu said, betting that strong demand for its new models and expanding into new overseas markets will improve its profitability.

Chinese EV maker Xpeng to break even later next year, president says

Ford Motor Co will look to eliminate another 4,000 positions in Europe, further retrenching within a region where the transition to electric vehicles is losing traction industrywide.

Ford plans 4,000 job cuts in Europe as EVs lose momentum

Malaysia is aiming to align its real economy with ongoing developments in the capital market as the nation reinvents its economic framework, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Malaysia to align real economy & capital market to drive inclusive growth — Amir Hamzah

Property tycoons are lending their support to the Hong Kong IPO market for the first time in years, a move that could help fan the flames of a nascent recovery.

Billionaire Robert Ng’s Sino Land Co is one of the largest cornerstone investors in the US$793 million (RM3.54 billion) Hong Kong listing from courier service SF Holding Co that kicked off this week.

Hong Kong tycoons plow money into rebounding IPO market

SHAH ALAM (Nov 20): A total of 2,132 investment projects in the manufacturing and services sectors have been approved in Selangor from 2023 to June 2024, with a combined investment value of RM90.21 billion, said Selangor Exco for Investment, Trade, and Mobility Ng Sze Han.

Selangor records investments worth RM90.21b in manufacturing, services sectors from 2023-June 2024 — exco

KUCHING (Nov 20): Sarawak has recorded approved investments totalling RM10.43 billion across 212 projects for the third quarter of this year (3Q2024), which are expected to create about 5,400 new job opportunities, the Sarawak State Assembly was told on Wednesday.

Sarawak secured investments worth RM10.43b across 212 projects in 3Q2024, expects to create 5,400 jobs — state minister

Boustead Singapore has announced that its engineering and construction (E&C) business, under Boustead Projects’ real estate solutions division, has secured an E&C contract in Malaysia valued at RM300 million (S$90 million).

Boustead Singapore secures RM300 mil E&C contract in Malaysia

Bursa Malaysia Bhd is optimistic about the outlook for 2025, citing a robust pipeline of initial public offerings (IPOs) and an active capital market, said chairman Tan Sri Abdul Wahid Omar.

Bursa Malaysia confident in next year's growth with active IPO pipeline, says Wahid Omar

The Kelantan government has urged that all ongoing federal government projects in the state be expedited to ensure the availability of infrastructure, which is crucial for attracting foreign investment.

Kelantan calls for faster delivery of federal projects to boost state economy

The October 2024 Supplementary Electoral Roll (DPT BLN10/2024) is open for review for 30 days from Thursday until Dec 20, said Election Commission (EC) Secretary Datuk Ikmalrudin Ishak.

October 2024 Supplementary Electoral Roll open for review — EC

Kucingko Bhd (KL:KUCINGKO), a 2D animation production company, has decided to discontinue the services of its external auditor Messrs Russell Bedford LC PLT over a disagreement on audit fees.

Kucingko drops Russell Bedford as auditor over fee dispute

BMI, a Fitch Solutions company, has forecast an annual average palm oil price of RM3,900 per tonne in 2025, down from an estimated RM4,050 per tonne in 2024.  

BMI commodity analyst Matthew Biggin attributed the projection to ample alternative supply, competition from other edible oils, and an uncertain import demand outlook in major consuming markets.

BMI projects average palm oil price for 2025 at RM3,900

Mega First Corp Bhd’s (KL:MFCB) net profit rose 13.8% to RM116.64 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM102.53 million a year earlier, underpinned by stronger earnings from its renewable energy and resources segments.

The group also recognised an insurance income of RM7.23 million in the quarter under review. It booked a total of RM32.12 million for the nine-month period ended Sept 30 for assets damaged by a fire incident in 2023.

Mega First's 3Q net profit rises 14% boosted by renewable energy and resources segments

The extended six-year contract signed between the government and Bestinet Sdn Bhd for the Foreign Worker Centralised Management System (FWCMS) could cost the government a minimum of RM3.2 billion, according to a report by the Public Accounts Committee (PAC).

Bestinet's contract extension for foreign worker system could cost govt at least RM3.2b — PAC

A total of 37,000 user accounts across seven coastal areas on Penang Island will experience a scheduled water supply disruption for 14 hours, starting from 10pm on Nov 28 (Thursday) to noon on Nov 29 (Friday).

Seven Penang Island coastal areas face scheduled water cut on Nov 28-29

UEM Sunrise Bhd (KL:UEM), in which Khazanah Nasional Bhd’s subsidiary UEM Group Bhd owns a 69.56% stake, saw its net profit more than double in the third quarter from last year, thanks to higher land sales margin and higher operating profit margin in the latest quarter.

UEM Sunrise confident of meeting RM1b sales target as 3Q profit more than doubles

(Nov 21):&nbsp;Dyson Ltd&nbsp;is dialling back its hairdryer-related operations in Malaysia, according to people familiar with the matter who declined to be identified discussing matters that are private, as the consumer goods company seeks to streamline its business in the region.

Dyson dials back Malaysian hairdryer ops, redeploys staff in Johor — Bloomberg

Petronas Chemicals Group Bhd (KL:PCHEM) may be in for tougher days ahead following a massive paper loss that sent the company into the red for the first time ever and prompted analysts to cut their forecasts.

Petronas Chemicals' outlook gloomy, analysts warn amid mounting joint venture losses

IOI Properties Group Bhd (KL:IOIPG) has officially relaunched the Putrajaya Marriott Hotel in IOI Resort City last week after completing a RM100 million renovation.

Sitting on 6.5 acres of land, the five-star Putrajaya Marriott Hotel is managed by IOI Properties and comprises 487 guest rooms, including 35 exclusive suites. The renovations took place from Feb 2023 till Nov 2024 and were carried out in phases. The massive undertaking focused on the refitting and renewal of its guest rooms, lobby, restaurants and private villa.

IOI Properties relaunches Putrajaya Marriott Hotel after RM100m renovation

KUALA LUMPUR (Nov 21): Malaysia’s central bank made two unusual changes to the government bond auction calendar by rescheduling a tender set for this month, and scrapping another pencilled in for December.

Sime Darby Property Bhd (KL:SIMEPROP) is working urgently with authorities to help resolve the recurring flood incidents in Bandar Bukit Raja, said managing director Datuk Seri Azmir Merican.

Tackling floods in Bandar Bukit Raja a top priority, says Sime Darby Property

KUALA LUMPUR (Nov 21): Mah Sing Group Bhd (KL:MAHSING) has unveiled the sales gallery of its RM850-million M Aspira serviced-apartment project in Taman Desa, Kuala Lumpur on Wednesday (Nov 20).&nbsp;

Mah Sing unveils M Aspira sales gallery in Taman Desa

Starbucks Corp is exploring options for its Chinese operations including the possibility of selling a stake in the business, according to people with knowledge of the matter.

Starbucks said to consider selling stake in Chinese business

China's Huawei plans to start mass-producing its most advanced artificial intelligence chip in the first quarter of 2025, even as it struggles to make enough chips due to US restrictions, said two people familiar with the matter.

Huawei aims to mass-produce newest AI chip in early 2025, despite US curbs

Starbucks Corp reduced its US retail workforce by 8% in its most recent fiscal year, even as the coffee chain added hundreds of new locations.&nbsp;

Starbucks shrank retail staff 8% despite hundreds of new stores

PARAMARIBO (Nov 20): Suriname's state-run oil company Staatsolie said on Wednesday that US oil giant ExxonMobil has withdrawn from its offshore block 52, and block operator Petronas Suriname E&amp;P will take over its 50% stake.

Suriname’s Staatsolie says ExxonMobil has withdrawn from offshore block, Petronas’ unit to take over 50% stake

Sime Darby Property Bhd (KL:SIMEPROP) on Thursday said that the company is seeking more assets that would generate recurring income for the real estate developer.

Sime Darby Property seeks more assets generating recurring income

The extended six-year contract signed between the government and Bestinet Sdn Bhd for the Foreign Worker Centralised Management System (FWCMS) could cost the government a minimum of RM3.2 billion, according to a report by the Public Accounts Committee (PAC).

Shares of Adani Group companies lost about US$28 billion (RM125.3 billion) in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

India's Adani Group sees US$30b in value wiped off after US indictments 

Northern Solar Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The solar energy firm said its IPO scheduled to take place in February 2025, entails a public issue of 67.3 million new shares and the sale of 35.6 million existing shares.

All in all, the listing would offer investors up to a 26% stake in the company.

Northern Solar Holdings signs underwriting agreement with M&A Securities

The Biden administration told Congress it plans to cancel US$4.65 billion (RM20.8 billion) in debt owed by Ukraine, according to a letter obtained by Bloomberg News, the latest in a series of moves meant to bolster support for Kyiv before President-elect Donald Trump takes office.

Biden administration seeks to cancel US$4.6b of Ukraine’s debt

Globetronics Technology Bhd (KL:GTRONIC) has inked an agreement valued at RM145 million to provide integrated circuit (IC) product packaging, testing and backend services to Taiwan-based ChipMOS Technologies Inc.

Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS

EIGHTEEN months after its decision to abandon the single wholesale network (SWN) structure and transition to a dual 5G network, Malaysia sprang yet another surprise by selecting U Mobile Sdn Bhd, the third and smallest of the three bidders that qualified, for the coveted second 5G spectrum bid on...

Cover Story: Untangling the second 5G network puzzler 

KUALA LUMPUR (Nov 21): E-services provider MyEG Services Bhd’s (KL:MYEG) earnings are expected to continue to be boosted by contributions from its Zetrix-related applications, prompting an earnings upgrade from at least one analyst.&nbsp;

Bitcoin hit US$95,000 (RM425,030) for the first time as the digital-asset sector moves to cement its influence with Donald Trump by pushing for a new White House post dedicated to cryptocurrency policy.

Bitcoin climbs closer to US$100,000 on Trump’s support for crypto

KUALA LUMPUR (Nov 21): Analysts have raised their earnings forecasts and target prices on Hap Seng Plantations Holdings Bhd (KL:HSPLANT), after the plantation group outperformed market expectations in its latest quarterly results.

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