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

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

Bank of Japan governor Kazuo Ueda said the economy was progressing towards sustained wages-driven inflation and warned against keeping borrowing costs too low, leaving open the chance of another interest rate hike as early as next month.

BOJ sees progress in wage-driven inflation, keeps December rate hike on table

Cryptocurrency exchange OKX said on Monday it would offer instant Singapore dollar-denominated deposits and withdrawals to customers in the city-state, taking a step to deeper integration with Singapore's traditional financial system as trading and interest in cryptocurrencies surge.

Crypto exchange OKX launches Singapore dollar fund transfer service for local customers

Shanghai said on Monday it would reduce some taxes on real estate transactions from Dec 1, according to state media, a move designed to support the property market in China's second-largest city.

Shanghai to reduce real estate transaction taxes to boost demand — state media 

MELAKA (Nov 18): Melaka has revoked the Darjah Pangkuan Seri Melaka (DPSM) which carries the title Datuk, conferred on GISB Holdings Sdn Bhd (GISB) chief executive officer (CEO) Nasiruddin Mohd Ali on Aug 25 this year, with immediate effect.

Melaka revokes GISB CEO’s ‘Datuk’ title

The Federation of Malaysian Consumers Associations (Fomca) on Monday warned the public about a growing trend of scams involving fake house rental agents.

Its secretary-general, Dr T Saravanan, said the fraudsters are pretending to be agents to scam potential tenants, including foreign students, by showing rental properties, collecting down payments and then disappearing.

Fomca warns public on surge in fake house rental agent scams

Last Wednesday, the Australian government announced that it would enact laws requiring big tech firms to protect its citizens online as part of a wider bid to crack down on misinformation and other abuses on social media.

Frankly Speaking: Walls closing in on big tech and social media giants

THE board of directors of Sapura Resources Bhd (KL:SAPRES) is understood to be considering legal action against former managing director Datuk Shahriman Shamsuddin, who resigned at the end of last month, and two consultants who have been advising the company’s property and aviation businesses ove...

Sapura Resources may take legal action against Shahriman, consultants

The upcoming Online Safety Bill may force service providers to temporarily take down contents suspected to be part of financial crime, said Deputy Minister in the Prime Minister's Department M Kulasegaran.

If any content is identified as online financial crime, the online service providers “will be compelled to suspend the content temporarily until further investigation is conducted," Kulasegaran told the Dewan Rakyat during the oral question-and-answer session on Monday.

Online service providers may be forced to suspend financial crime contents, says deputy minister

KUALA LUMPUR (Nov 18): CelcomDigi Bhd (KL:CDB) on Monday cut one of its key financial targets, after its net profit slipped in the third quarter as costs rose faster than revenue growth.

CelcomDigi cuts key financial target after net profit slips in 3Q

KUALA LUMPUR (Nov 18): Shares of Press Metal Aluminium Holdings Bhd (KL:PMETAL) soared in early trade on Monday, as&nbsp;aluminium futures jumped after China ended&nbsp;a tax rebate over its exports of the metal.

Press Metal soars after China removes tax rebate for aluminium exports

KUALA LUMPUR (Nov 18): Shares of Kossan Rubber Industries Bhd (KL:KOSSAN) rose on Monday to their highest in nearly four months, after the glovemaker unexpectedly declared a special dividend despite below-view results.

Kossan Rubber rises to near four-month high after surprise special dividend

China’s steel exports have exploded higher. History suggests it can’t last.

Chinese steel exports are booming but here’s why that won’t last

KUALA LUMPUR (Nov 18): CelcomDigi Bhd (KL:CDB) on Monday cut one of its key financial targets, after its net profit slipped in the third quarter as costs rose faster than revenue growth.

Barisan Nasional (BN) Sabah chief Datuk Seri Bung Moktar Radin and his wife Datin Seri Zizie Izette Abdul Samad must enter their defence in the graft case involving RM2.8 million linked to a Felcra Bhd investment.

COA: Bung Moktar, wife must defend themselves against graft charges

Xi Jinping used his final meeting with Joe Biden to send a clear message to Donald Trump: China wants to be friends, but is ready for a fight if necessary.

Xi’s olive branch to Trump comes with warning on China red lines 

Malaysian banks are expected to experience net interest margin (NIM) compression, with a potential 25 basis points cut in the overnight policy rate (OPR) by Bank Negara Malaysia (BNM) to 2.75% in the second half of 2025 (2H2025), according to AmBank Research.

Malaysian banks could face NIM compression on potential OPR cut next year, says AmBank 

Umno has informed the High Court that it is seeking an out-of-court settlement in the RM16 million civil suit against them by SRC International and its two subsidiaries.

Umno looking to settle SRC’s RM16m lawsuit

Global stocks began the week on firmer footing ahead of a highly anticipated earnings release from Nvidia, while in Japan, comments from its central bank's head left markets none the wiser on the country's rate outlook.

Shares rise ahead of Nvidia results; BOJ keeps rates markets guessing

Gold will rally to a record next year on central-bank buying and US interest rate cuts, according to Goldman Sachs Group Inc, which listed the metal among top commodity trades for 2025 and said prices could extend gains during Donald Trump’s presidency.

Goldman says ‘go for gold’ as central banks buy, US Fed cuts in 2025

The South Korean won, the second-worst performing currency in Asia this year, looks poised to weaken further as Donald Trump’s tariff threat clouds the export-reliant country’s economic outlook.

Korean won may face more pressure as tariff risk adds to jitters

President Joe Biden's administration has lifted restrictions that had blocked Ukraine from using US-provided weapons to strike deep into Russian territory, said three sources familiar with the matter, in a significant change to US policy in the Ukraine-Russia conflict.

Biden lifts ban on Ukraine using US arms to strike inside Russia

(Nov 18):&nbsp;Bitcoin posted its biggest two-day retreat over the weekend since the US election&nbsp;amid a bout of caution in global markets, as traders assess the potential impact of President-elect Donald Trump’s policy agenda.

Bitcoin churns near US$90,000 after largest drop since US election

The Umno leader who first introduced Umno to the corporate world after the New Economic Policy was launched in 1971 was Tengku Razaleigh Hamzah. Razaleigh did this by taking control of Fleet Group in 1972 via Umno proxies/nominees. Fleet Group then controlled the New Straits Times group in Malays...

Alternative Views: Daim took the nexus between business and politics to a new level

RIO DE JANEIRO, Brazil (Nov 18): Malaysia is poised to become a regional industrial gateway following its collaborations with Brazil in the semiconductor sector, said&nbsp;Malaysia’s Investment, Trade and Industry Minister&nbsp;Tengku Datuk Seri Zafrul Abdul Aziz.

Zafrul: Semicon collab with Brazil poised to make Malaysia a regional industrial gateway

theedgemalaysia.com highlighted five stocks with momentum at Bursa Malaysia’s noon market break on Monday. One stock showed positive momentum and the remaining four displayed negative momentum. &nbsp;

The stock with positive momentum was:

<ul>
	<li>&nbsp;&nbsp;&nbsp; Cypark Resources Bhd (KL:CYPARK) — up 5.5 sen or 6.59% to 89 sen</li>
</ul>

Stocks with momentum on Nov 18, 2024: Cypark, TechnoDex, Matrix, Karex and Classita  

North Korea may deploy as many as 100,000 troops to aid Russia’s war on Ukraine if the alliance between Pyongyang and Moscow continues to deepen, according to people familiar with assessments made by some Group of 20 nations.

North Korea may end up sending Putin 100,000 troops for war

Australia will mandate businesses selling essential items such as groceries and fuel to accept cash payments, joining countries from Spain to Denmark amid the growth in more preferable digital payment methods.

Australia to safeguard cash payments as digital shift grows

A decade after China opened up its exchanges to a broad swath of international investors through a trading link with Hong Kong, investors are craving deeper access.

Investors eye IPO access as Hong Kong stock link turns 10

&nbsp;On the evening of Election Day, Kamala Harris’ campaign was touting high turnout on college campuses in key swing states.

Revised Budget 2023

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