SINGAPORE (Sept 11): The Singaporean economy is expected to expand by 2.6% in 2024, according to economists and analysts polled by the Monetary Authority of Singapore (MAS). The current survey released on Wednesday reflects an increase from the estimate of 2.4% published in the previous survey in June 2024.

Market watchers expect Singapore’s GDP to grow by 2.6% y-o-y in 2024 — cenbank survey

The UK economy stagnated for a second month in July, suggesting that a rapid recovery from recession is now losing momentum in a blow for Prime Minister Keir Starmer.

UK economy stagnates for second month in setback for Starmer

The average household debt in Thailand is seen rising to the highest in at least 16 years as an uneven post-pandemic economic recovery hurts family incomes, according to a survey.

Thai household debt rises to 16-year high as economy slows, survey shows

BEIJING (Sept 11): European firms in China doubt that the government has a credible plan to boost demand in the ailing economy, or will carry out long-promised reforms, diminishing their appetite to invest in the country, a European business lobby group said on Wednesday.

China challenges dim European firms' investment appetite, lobby group says

TOKYO (Sept 11): The Bank of Japan (BOJ) will continue to raise interest rates if inflation moves in line with its forecast, policymaker Junko Nakagawa said, signalling that last month's market rout has not derailed the bank's plan to hike borrowing costs steadily.

BOJ policymaker signals readiness to raise rates if inflation on track

Canadian gross domestic product (GDP) in the third quarter is likely to fall well short of the Bank of Canada's (BOC) forecast, possibly coming in at less than half the estimate, with growth flagging and joblessness still rising, economists said this week.

Canada's third-quarter growth seen much slower than Bank of Canada forecast

JPMorgan Chase & Co, BNP Paribas SA and Bank of America Corp are among banks set to market over €8 billion (US$8.8 billion or RM38.30 billion) in debt for UK vehicle glass repair and replacement company Belron, with the proceeds to go toward pushing out debt maturities and funding a shareholder payout, according to people familiar with the matter.

JPMorgan among banks working on over €8b debt for UK firm Belron

DHAKA/BENGALURU/WASHINGTON (Sept 10): US officials will hold talks with Bangladesh's interim government to see how the United States can support the country's economy and development, the US State and Treasury departments said on Tuesday.

US to discuss economic support for Bangladesh’s interim government

As the Bank of Japan (BOJ) slows debt purchases, local investors are doing just the opposite, limiting upward pressure on bond yields.

BOJ’s bond buying cuts carve out opening for Japanese investors

SHANGHAI (Sept 10): Malaysia will benefit from potential new investments in the halal industry from China, worth RM4 billion, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Malaysia to get RM4b in potential halal industry investments from China — Ahmad Zahid

KUALA LUMPUR (Sept 10): Malaysia’s industrial production is likely to sustain growth in the coming months of the year, supported by robust domestic spending and rising external demand, economists said on Tuesday.

Strong domestic spending, external demand likely to sustain Malaysia’s factory output growth in months ahead — economists

Bank of Japan (BOJ) officials see little need to raise the benchmark rate when board members gather next week, as they are still monitoring lingering volatility in financial markets and the impact of the July hike, according to people familiar with the matter.

BOJ said to see little need to hike key rate next week

Malaysia’s industrial production index (IPI) expanded by 5.3% in July 2024, following 5% growth in the previous month driven by a surge in manufacturing output, said the Department of Statistics Malaysia (DOSM).

Malaysia's IPI expands 5.3% in July, driven by strong manufacturing output — DOSM

KUALA LUMPUR (Sept 10): The 17th World Chinese Entrepreneurs Convention (WCEC) is anticipated to boost trade and investment activities, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Zafrul: World Chinese Entrepreneurs Convention expected to boost trade, investments

A total of 171 individuals were arrested on Wednesday following police raids on 20 children’s homes across Selangor and Negeri Sembilan, linked to a company alleged to be exploiting children under the guise of religious charity.

402 children rescued in police raids on children’s homes in Selangor, Negeri Sembilan, 171 arrested

US House of Representatives Speaker Mike Johnson cancelled a vote scheduled for Wednesday on his stopgap funding bill, saying more work is needed to build support for a measure, less than three weeks before a government shutdown deadline.

US House Republicans cancel vote on stopgap funding measure

Canada’s Conservative party chief says he stands with pilots in a labour dispute with Air Canada, as the carrier prepares to suspend flights ahead of a potential strike.

Pierre Poilievre, leader of the opposition and Prime Minister Justin Trudeau’s chief rival, said he would not support any action that preempted negotiations between the airline and union.

Air Canada pilots get more political support as strike looms

Cocoa futures rose as much as 6.6% in New York as prospects for bigger harvests were outweighed by concerns about tight global inventories.

Ghana, the world’s second-biggest cocoa producer, said it would raise the amount it pays farmers by 45%.

Cocoa jumps as traders assess global supply-demand balance

Nippon Steel Corp has sent a senior executive to Washington to boost its case for the US$14.1 billion (RM61.3 billion) takeover of United States Steel Corp, according to people familiar with the matter.

Nippon Steel sends VP to Washington to rescue US Steel bid

Nvidia Corp chief executive officer Jensen Huang, whose products have become the hottest commodity in the technology world, said that the scramble for a limited amount of supply has frustrated some customers and raised tensions.

Nvidia CEO says customer relations are ‘tense’ due to shortages

Pahang has denied allegations that the state enforcement unit (UPNP) burned and destroyed structures housing workers and equipment of illegal farmers involved in land encroachment in Raub.

Pahang refutes claims of enforcement unit burning structures on encroached land

The European Union (EU) is exaggerating spending on climate-friendly projects, potentially by billions of euros, the bloc's auditors said on Wednesday, citing examples of countries claiming spending on IT systems and salaries as green.

EU likely exaggerating climate-friendly spending, auditors say

US utilities faced a near 70% jump in cyberattacks this year over the same period in 2023, according to data from Check Point Research, underlining the escalating threat to a critical infrastructure.

Cyberattacks on US utilities surged 70% this year, says Check Point

Muhammed Yusoff Rawther, who previously worked as an aide to Prime Minister Datuk Seri Anwar Ibrahim when he was the opposition leader, will be charged in the Kuala Lumpur Court on Thursday.

Anwar-accuser Yusoff Rawther to be charged Thursday after drug and pistols allegedly found in his car

A company backed by the mother of Asia pop megastar Jay Chou saw its stock tumble by a record 72% Wednesday, with no immediately apparent reason.

The slide took shares of Star Plus Legend Holdings Ltd below their initial public offering price for the first time since their July 2023 listing in Hong Kong. Volume was 49 times the three-month daily average.

Hong Kong stock tied to pop star Jay Chou suddenly plunges 72%

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday

Genting Malaysia, EPMB, Bermaz Auto, IHH Healthcare, ICT Zone, Mikro MSC, Citaglobal, Suria Capital, Kerjaya Prospek, Southern Steel, Hextech

Sabah-based port operator Suria Capital Holdings Bhd (KL:SURIA) said it has signed a new joint development agreement (JDA) to formalise the development of a mixed commercial project within the Kota Kinabalu port area.

Suria Capital signs JV agreement for Jesselton Docklands 2 mixed commercial project in Kota Kinabalu

KUALA LUMPUR (Sept 11): Energy stocks were the largest losers on Bursa Malaysia, fallen all the way back to early this year, as Brent crude oil dipped below US$70 (RM303.15) a barrel&nbsp;on concerns of slowing economic growth.&nbsp;

Energy stocks erase 2024 gains as Brent dips below US$70

(Sept 11):&nbsp;Malaysian home-improvement retailer Mr DIY Group (M) Bhd (KL:MRDIY)&nbsp;is considering listing its Indonesian unit in Jakarta as soon as this year, or early 2025, according to people familiar with the matter.

Mr DIY’s Indonesian unit said to eye IPO in late 2024 — Bloomberg

EP Manufacturing Bhd (KL:EPMB) is placing out shares representing 30% of its issued share capital, 15% each to its largest shareholder Mutual Concept Sdn Bhd and a subsidiary of Bermaz Auto Bhd (KL:BAUTO), to raise RM39.65 million to part finance the construction of its manufacturing hub in Melaka.

EPMB places out 30% of its shares, half to largest shareholder and half to Bermaz Auto, to fund new manufacturing plant

Financial fraud investigator Richard Templeman told the court here on Wednesday that former&nbsp;1Malaysia Development Bhd (1MDB) CEO Arul Kanda Kandasamy had nothing to do with transactions the company undertook prior to 2015.

1MDB investigator says Arul Kanda had nothing to do with 1MDB deals prior to 2015

Southern Steel Bhd (KL:SSTEEL) may see a new controlling shareholder as it has proposed undertake an issuance of new shares, representing not less than 50.1% of its enlarged issued share capital, to Singapore company Green Esteel Pte Ltd.

Singapore's Green Esteel may emerge as new controlling shareholder in Southern Steel

A summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday.

FBM KLCI down 1.24% to 1,639.80 on Sept 11, 2024

Underlying US inflation unexpectedly picked up in August on higher prices for housing and travel, undercutting the chances of an outsize Federal Reserve (Fed) interest-rate cut next week.

Core US inflation picks up, damping odds of outsize Fed cut

Genting Malaysia Bhd’s (KL:GENM) indirect wholly-owned subsidiaries, video lottery facility operator Genting New York LLC (Genny) and its unit Genny Capital Inc, have priced their offering of US$525 million (RM2.28 billion) aggregate principal amount of 7.25% senior unsecured notes due 2029.

The resort operator said the offering is being undertaken by Genny to refinance existing indebtedness.

Genting Malaysia's units price US$525 mil senior notes offering

Bermaz Auto Bhd (KL:BAUTO), which mainly assembles Mazda-branded vehicles, has reported a 29.94% fall in first quarter net profit to RM70.22 million, from RM100.22 million a year earlier, dragged by lower sales amid competition.

Bermaz Auto's net profit falls 30% on lower vehicle sales, pays 3.5 sen dividend 

Citaglobal Bhd (KL:CITAGLB) has bagged two construction jobs worth RM50.95 million, including one related to the Kuching Urban Transportation System.

Citaglobal clinches RM51 mil riverwall, infrastructure works in Sarawak

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EVENING 5: Five things you need to know today

A total of 171 individuals were arrested on Wednesday following police raids on 20 children’s homes across Selangor and Negeri Sembilan, linked to a company alleged to be exploiting children under the guise of religious charity.

Hextar Technologies Solutions Bhd (KL:HEXTECH) is in exclusive talks with Widad Group Bhd (KL:WIDAD) to dispose of five adjoining plots of vacant industrial land in Negeri Sembilan at a yet-to-be-determined price.

Hextar Technologies in talks to sell five industrial plots to Widad

Carsome Group Inc, an integrated car e-commerce platform, on Wednesday announced financing partnerships with Ambank Group and Maybank to secure over RM200 million in working capital to support its expansion plans.

Carsome gets over RM200 mil financing line from AMMB, Maybank for expansion plans

(Sept 11):&nbsp;Singapore-based Grand Venture Technology Ltd (GVT), which produces components for semiconductor makers and other industries, is targeting a second listing in Malaysia, according to people familiar with the matter.&nbsp;

Singapore-traded Grand Venture Technology eyes second listing in Malaysia — Bloomberg

Hong Kong’s securities watchdog plans to publish market sounding guidelines by year end, revising its previous draft by cutting back on prescriptive rules following feedback from market participants, according to people familiar with the matter.&nbsp;

Hong Kong revising ‘market sounding’ rules to put burden on banks — Bloomberg

UOB Kay Hian Securities (M) Sdn Bhd has officially launched 16 shariah-compliant global commodity futures, making it the second brokerage firm in Malaysia to offer such derivatives.&nbsp;

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