<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 26):&nbsp;Petron Malaysia Refining &amp; Marketing Bhd announced a final dividend of 25 sen per share for the financial year ended Dec 31, 2022 (FY2022), subject to shareholders’ approval in the forthcoming annual general meeting.</p></div>

<div class=newsTextDataWrapInner><p>The dividend, with an ex-date of June 19, will be paid on July 4, the group showed in a bourse filing on Wednesday (April 26).&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The last time the group declared a 25 sen dividend was in FY2017. In comparison, it paid a 20 sen dividend in FY2018, followed by a 12 sen dividend in FY2019, five sen in FY2020 and 20 sen in FY2021.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Its net profit grew 26.05% to RM300.6 million for FY2022, compared with RM238.47 million a year earlier, as revenue jumped 99.4% to RM18.35 billion from RM9.18 billion previously, driven by higher sales volume and elevated oil prices.&nbsp;</p></div>

<div class="mt-3 ceonothumb imgw-400 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="//assets.theedgemarkets.com/pics/2023/petron1.jpg"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/petron1.jpg" /></a></div>

<div class="mt-3 ceonothumb imgw-400 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="//assets.theedgemarkets.com/pics/2023/petron2.jpg"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/petron2.jpg" /></a></div>

<div class=newsTextDataWrapInner><p>Shares in Petron have been steadily declining since August last year. On Wednesday, the stock slipped four sen or 0.9% to RM4.40, giving it a market value of RM1.19 billion.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://www.theedgemarkets.com/node/656528" target="_blank">Petron posts net loss of RM21.4m due to declining crude prices amid high importation costs</a></em></p></div>


Petron Malaysia Refining & Marketing Bhd announced a final dividend of 25 sen per share for the financial year ended Dec 31, 2022 (FY2022), subject to shareholders’ approval in the forthcoming annual general meeting.

Petron announces 25 sen final dividend for FY2022

Malaysian banks have expressed support for Budget 2025, which aims towards fostering sustainable and inclusive economic growth.

Malaysian banks laud Budget 2025 for promoting sustainable, inclusive economic growth

KUALA LUMPUR (Oct 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

HeiTech Padu Bhd (KL:HTPADU), whose share price hit a record high of RM4.40, announced that it has won an RM892.2 million National Integrate...

HeiTech Padu, Exsim Hospitality, Sorento and OB Holdings

The government's focus on both subsidy rationalisation and broadening of the tax base under Budget 2025 reflects sound fiscal prudence, said Khazanah Research Institute (KRI), which would bolster the country's resilience amid increasing global uncertainty.

Budget 2025 reflects sound fiscal prudence, says Khazanah Research

Oil futures dropped on Friday as they headed for a roughly 7% weekly drop as China's economic growth slowed and threats to supply abated in the Middle East.

Brent crude futures LCOc1 fell 89 cents, or 1.2%, to US$73.56 a barrel by 1328 GMT, while US West Texas Intermediate crude CLc1 was at US$69.72 a barrel, down 95 cents or 1.3%.

Oil prices set for biggest weekly loss in over a month on demand worries

The US opened a federal investigation into whether Tesla Inc’s partial-automation system marketed as full self-driving (FSD) is defective after a series of crashes, one of which resulted in a fatality.

The National Highway Traffic Safety Administration (NHTSA) said on Friday it will assess whether Tesla’s system has the ability to detect and appropriately respond to fog and other reduced visibility conditions. The agency said four crashes had been reported in such scenarios where FSD was engaged.

Tesla's ‘full self-driving’ faces defect probe after pedestrian death

Hamas leader Yahya Sinwar was the chief obstacle to securing a ceasefire in the Gaza conflict and his killing by Israel's defence force creates an "inflection point" that could accelerate talks to wind down the war, White House spokesperson John Kirby said.

Sinwar killing represents an 'inflection point' for possible Gaza ceasefire, White House says

The country’s monthly minimum wage will be raised to RM1,700 from RM1,500, effective from Feb 1 next year, announced Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim in his Budget 2025 speech.

Malaysia raises monthly minimum wage to RM1,700 beginning Feb 1, 2025

The S&P 500 and the Nasdaq opened higher on Friday, lifted by advances in technology shares, while the Dow Jones Industrial Average edged lower.

Nasdaq, S&P 500 open higher on tech boost

Bursa Malaysia Bhd (KL:BURSA) and the Securities Commission Malaysia (SC) welcomed the measures in Budget 2025 aimed at stimulating economic activity while also strengthening Malaysia’s financial position.

Bursa, SC commends balanced Budget 2025 spurring economy while bolstering financial position

Tide maker Procter & Gamble reported a surprise drop in quarterly sales for the second time in a row, as price-conscious consumers in its major markets, the United States and China, switched to cheaper brands.

An uncertain US economy — P&G's growth engine — has pushed customers mainly from the lower-income group to rivals who are offering discounts, and cheaper private-label brands.

P&G posts surprise sales drop on slowing demand for personal care products

<p><strong>Click <a href="https://theedgemalaysia.com/budget/2025/" target="_blank">here</a> for all you need to know about Malaysia's Budget 2025. </strong></p>

<p>• Tax relief for individuals on net SSPN savings has been extended for another three years.<br />
Permodalan Nasional Bhd (PNB) wil...

Highlights of Budget 2025

<p>In a bid to raise tax revenue, the government will introduce a 2% tax on dividend income, as well as expand the scope of the sales and service&nbsp;tax (SST), said Prime Minister Datuk Seri Anwar Ibrahim.&nbsp;&nbsp;</p>


Govt to introduce 2% tax on dividend income exceeding RM100,000

<p>HeiTech Padu Bhd (KL:HTPADU), whose share price hit a record high of RM4.40, announced that it has won an RM892.2 million National Integrated Immigration System (NIISe) project.</p>

<p>This confirms <em>The Edge Malaysia </em>weekly’s report last month that the technology company had made a comeback and stood a good chance of winning the contract, quoting sources. &nbsp;</p>


HeiTech wins bid for RM892.2 mil NIISe project

<p>KUALA LUMPUR (Oct 18): Main market-bound Azam Jaya Bhd, a Sabah-based construction firm, aims to raise RM61.5 million from its initial public offering (IPO), and set its IPO price at 78 sen per share. &nbsp;</p>


Main market-bound Azam Jaya to raise RM61.5m from IPO

<p>首相拿督斯里安华提呈2025年财政预算案的重点摘要</p>


2025年财政预算案重点摘要

<p>Malaysia's trade surplus nearly halved in September from a year ago amid a decline in exports, said the Ministry of Investment, Trade and Industry (Miti).</p>


Malaysia’s trade surplus nearly halved from a year ago — Miti

<p>The country’s monthly minimum wage will be raised to RM1,700 from RM1,500, effective from Feb 1 next year, announced Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim in his Budget 2025 speech.</p>


<p>Johor-Singapore Special Economic Zone (JS-SEZ) will cover an area governed by six local authorities in Iskandar Malaysia and Pengerang, according to the Ministry of Finance.</p>

<p>The sites in southern Johor proposed by the state government would span an area about five times larger than Singapore, the ministry said in the 2025 Economic Outlook report.</p>


Johor-Singapore Special Economic Zone to cover Iskandar Malaysia, Pengerang

<p>The federal government is expanding the scope of the sales and service tax (SST) again to raise tax revenue.&nbsp;</p>

<p>Starting May 1, 2025, sales tax will be imposed on non-essential items, including imported premium items, such as salmon and avocado, Prime Minister Datuk Seri Anwar Ibrahim announced in his Budget 2025 speech on Friday. &nbsp;</p>


Govt to expand scope of SST, to include fee-based financial services

<p>The government will start implementing targeted subsidies for RON95 petrol in mid-2025, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim unveiled in his Budget 2025 speech.</p>

<p>Anwar said that the government remains committed to providing subsidies for 85% of the population.</p>


Targeted RON95 subsidies to start in mid-2025, 85% of population will still be subsidised — Anwar

<p>Imprisoned former prime minister Datuk Seri Najib Razak said in the Kuala Lumpur High Court on Friday that he had some regrets regarding the SRC International Sdn Bhd's (SRC) debacle, where billions of Retirement Fund Inc (KWAP) funds meant to seek alternative power source, ended up being misappropriated and squandered.&nbsp;</p>


Najib on SRC: 'I have certain regrets', but claims had no knowledge of what was taking place 

<p>KUALA LUMPUR (Oct 18): Former 1Malaysia Development Bhd (1MDB) chief executive officer (CEO) Datuk Shahrol Azral Ibrahim Halmi told the High Court on Friday that he was not comfortable in calling or labelling fugitive businessman Low Taek Jho (Jho Low) “as a crook”.</p>


I am not comfortable calling Jho Low a crook, says Shahrol in Riza Aziz’s hearing

<p>The government plans to increase the excise duty rate for sugar-sweetened beverages to 90 sen per litre next year, from 50 sen currently.</p>

<p>This 40 sen increase, which represents an 80% hike from the current level, was announced by Prime Minister Datuk Seri Anwar Ibrahim when tabling the Budget 2025 on Friday as a measure to support the "war on sugar" movement.</p>


Sugary drink tax to be raised to 90 sen per litre next year, from 50 sen now

<p>Japanese insurer Tokio Marine has paused the sale of its US$1 billion (RM4.3 billion) Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring products distribution agreement, four sources with knowledge of the matter said.</p>


Tokio Marine pauses sale of US$1 bil Southeast Asia life insurance business due to dispute with RHB — Reuters

<p>Malaysia’s subsidy and social assistance bill is expected to decline further from recent highs as a result of Putrajaya’s subsidy rationalisation efforts.</p>


Subsidy bill to continue falling from peak in 2025  

<p>The Malaysian Anti-Corruption Commission (MACC) has frozen assets worth millions of ringgit as part of its ongoing investigation into the Selangor Menteri Besar Incorporated (MBI) over allegations of corruption involving sand mining concessions.</p>


MACC freezes assets worth millions in MBI sand mining concession probe 

<p>China's economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and factory output figures beat forecasts last month a tumbling property sector remains a major challenge for Beijing as it races to revitalise growth.</p>


China's 3Q GDP hits weakest pace since early 2023, backs calls for more stimulus

<p>The government will extend the current net energy metering (NEM) 3.0 programme till June 30, 2025 to continue incentivising rooftop solar installation, announced Prime Minister Datuk Seri Anwar Ibrahim in his Budget speech.</p>


Govt extends rooftop solar programme till end-June 2025

<p>The High Court here has denied Toh Puan Na’imah Abdul Khalid, the wife of former finance minister Tun Daim Zainuddin, an interim stay against an order by the Inland Revenue Board (IRB) for the imposition of RM313.82 million in additional tax assessment for the year 2018.</p>


Daim’s wife denied stay on paying of RM314m tax assessment; ‘law applies equally to all’, says judge

<p>SD Guthrie Bhd's (KL:SDG) core earnings are expected to grow by 46.9% in FY2024, followed by increases of 8.9% in FY25 and 12.2% in FY26, on recovery of fresh fruit bunches (FFB) production, and crude palm oil (CPO), said Apex Securities.</p>
