Hata Digital Sdn Bhd (Hata), the fifth licensed digital asset exchange (DAX) has obtained full approval from the Securities Commission Malaysia (SC) and officially launched its exchange.

The firm was founded by ex-Luno Asia Pacific general manager David Low, Darien Ng and KK Chong.

Digital asset exchange Hata poised to challenge the incumbent

M&A Value Partners Asset Management Malaysia Sdn Bhd, the firm owned by M&A Equity Holdings Bhd and Value Partners Group Ltd, has launched the M&A Value Partners IPO Equity Fund (IPOEF).

M&A Value Partners Asset Management launches IPO equity fund

PitchIn, the licensed equity crowdfunding (ECF) and initial exchange offering (IEO) platform, listed its first pre-live IEO deal on its official website to gauge investors interest.

PitchIn launches its first initial exchange offering deal, secondary market for equity crowdfunding

BR Capital, a peer-to-peer (P2P) debt fundraising platform which operates under a joint-venture (JV) entity of Bursa Malaysia Bhd (KL:BURSA) and RAM Holdings Bhd, has listed two pre-live deals on its online platform.

BR Capital lists two pre-live deals, issuers are EPMB’s subsidiary and City Coin Technology

Raiz Invest Ltd, an Australian financial technology company and publicly listed entity on the Australian Securities Exchange (ASX), has announced that it is ceasing its Malaysian business.

Raiz to exit Malaysia 

In the global equity markets, the S&P 500 index is a star, having rallied 23.79% last year and continuing to rise by another 10.77% year to date (as at June 4). With attention trained on this stellar performance, some may have overlooked the Nikkei 225, which actually beats the S&P in bot...

Cover Story: Is it too late to enter the Japanese market?

FSMOne Malaysia has advised investors to pare down their global equity exposure in the second half of 2024, but sees Malaysian equities remaining attractive, as compared to their global peers.

FSMOne favours Malaysian equities in 2H2024

Moomoo Malaysia aims to start distributing unit trust funds through its online investment and trading app in the next one to two months.

A source who is familiar with the matter confirmed it with Wealth when contacted.

Moomoo Malaysia to distribute unit trust funds in a month or two

On June 4, 2024, Mallikarjun Kharge, president of the Indian National Congress (INC), experienced an Indian summer.

In the US and Canada, an Indian summer is used to describe a warm spell in autumn that is a pleasant surprise during the chilly season. While India is currently dealing wi...

Pitfalls & Pitch Calls: Thriving in a year of many elections

Medical insurance premiums have increased by 50%, or even doubled in some cases, over the past three to four years. If the trend persists, it will render medical insurance unaffordable for many Malaysians, says Sun Life Malaysia CEO and president Raymond Lew.

Several factors have contri...

Insurance: Will medical insurance be a luxury for Malaysians?

Affin Bank, in partnership with boutique hedge fund manager Cross Light Capital, has become the first bank in Malaysia to distribute a digital asset fund to its premier banking clients.

The Cross Light Capital Performa Digital Asset Fund is the second actively managed digital asset fund...

Cryptocurrency: Affin Bank is first bank to distribute digital asset fund

Halogen Capital, the first licensed digital asset manager in Malaysia, launched its actively managed Shariah Crypto Titans Fund (HSCTF) on May 20. Through this fund, it aims to provide investors with broad exposure to the crypto space, beyond Bitcoin and Ether.

It also seeks to leverage...

TheWall: Halogen aims to provide live updates for its actively managed fund 

KUALA LUMPUR (June 13): Affluent Malaysians rank among the most invested in financial products and are looking to put in more than half (52%) of their current cash holdings into investments in the next 12 months.

HSBC: Affluent Malaysians rank among the most invested in financial products

Cross Light Capital and Affin Bank Bhd have announced the launch of Malaysia's first actively managed fund that seeks exposure to the digital assets space through exchange-traded funds (ETFs) and exchange traded products (ETPs).

Cross Light Capital, Affin Bank announce launch of digital asset fund 

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall Street rebounds on tech recovery, small caps jump after benign inflation data

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

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

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

VIENTIANE (July 26): The Asean Post Ministerial Conference kicked off in the Laos capital here on Friday, as Asean foreign ministers engaged with top diplomats from dialogue partners to discuss various regional and international issues of common interest.

Asean Post Ministerial Conference kicks off in Laos; regional, global issues in focus

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

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).

Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford

US prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September.

US inflation rises moderately, consumer spending cools

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Practice Note 17 (PN17) company Alam Maritim Resources Bhd (KL:ALAM) has announced its regularisation plan, which includes a share capital reduction of RM440 million, 10-to-one share consolidation, an issuance of renounceable rights shares with warrants and a scheme of arrangement with its creditors.

Alam Maritim submits regularisation plan to exit PN17 status

Health and wellness direct selling company DXN Holdings Bhd (KL:DXN) said on Friday its net profit rose 10.26% in the first quarter from a year earlier due to higher revenue recognised from overall operating segments.&nbsp;

DXN Holdings 1Q net profit up 10.26%, targets market presence in Zambia, Ghana  

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

KUCHING (July 26): Türkiye is committed to expanding&nbsp;its bilateral partnership with Malaysia and&nbsp;seeking to explore collaborations in high-tech and green energy industries in Sarawak, said Turkish Ambassador to&nbsp;Malaysia Emir&nbsp;Salim Yuksel.&nbsp;

Türkiye seeks collab with Sarawak on high-tech, green energy — Turkish Ambassador

Biopharmaceutical company Malaysian Genomics Resource Centre Bhd (KL:MGRC) has proposed to undertake a private placement that is expected to raise up to RM4.98 million.

MGRC plans private placement to raise up to RM4.98 mil

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Penang Port acquires Kalmar container handling equipment to enhance services

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies.

Eastern European Union (EU) members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming via Ukraine after sanctions were imposed on the company.

Wealth

‌‌

‌
‌