<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 22): The Ministry of Communications and Digital aims to gradually grow Malaysia’s digital export revenue to RM5.6 billion by 2025, almost quadrapling the amount recorded last year, said deputy minister Teo Nie Ching. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>She said that the government has raised the target for digital export revenue in 2023 to RM2.5 billion, after the country achieved RM1.4 billion in 2022.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, the target for digital export revenue in 2024 is at RM3.7 billion, the Kulai Member of Parliament (MP) said during question and answer time in Dewan Rakyat on Monday (May 22).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Teo was sharing initiatives that have been carried out by government agencies in promoting digital business.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>She said the Malaysia Digital Economy Corporation (MDEC) has a collaborative network in 15 countries including Indonesia, the Philippines, Thailand, Vietnam and Cambodia in Southeast Asia, as well as Taiwan, Hong Kong, Australia, Japan, Dubai, Saudi Arabia, Bangladesh, and is currently exploring South Korea, Turkey and the UK.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The second meeting of the second session of the Dewan Rakyat sitting began on Monday and will last for 11 days over a three-week period, from May 22 until May 25, and June 6 until June 8, and June 12 until June 15.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><em>For more&nbsp;Parliament&nbsp;stories, click&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.theedgemarkets.com/flash-categories/parliament&amp;source=gmail&amp;ust=1681462611460000&amp;usg=AOvVaw1sgu7jvMgCsHobxfsrx4Yc" href="https://www.theedgemarkets.com/flash-categories/parliament" target="_blank">here</a>.</em></p></div>


KUALA LUMPUR (May 22): The Ministry of Communications and Digital aims to gradually grow Malaysia’s digital export revenue to RM5.6 billion by 2025, almost quadrapling the amount recorded last year, said deputy minister Teo Nie Ching.  

She said that the government has raised the target for digital export revenue in 2023 to RM2.5 billion, after the country achieved RM1.4 billion in 2022.

Govt targets digital export revenue to hit RM5.6b by 2025

The Negeri Sembilan Land and Mines Office and the state’s Department of Minerals and Geoscience have been instructed to investigate claims of a gold discovery in an area in Lenggeng, said Menteri Besar Datuk Seri Aminuddin Harun.

N Sembilan govt orders probe into alleged gold discovery in Lenggeng

Exsim Hospitality Bhd (KL:EXSIMHB), formerly known as Pan Malaysia Holdings Bhd, said it is planning to develop 420 units of serviced apartments on 1.29 acres of land in Ipoh.

Exsim to develop apartment block in Ipoh

Construction group Southern Score Builders Bhd (KL:SSB8) has won a contract amounting to RM78 million for the proposed upgrading works to a detention pond in Kuala Lumpur, in a related party transaction.

Southern Score bags RM78 mil contract to upgrade detention pond in KL

The Ministry of Defence has refuted claims circulating on social media alleging the dismissal of all commanders and the transfer of senior officers in the Malaysian Armed Forces due to a helicopter contract worth RM16 billion.

Ministry of Defence refutes claims of dismissals, transfers over RM16b helicopter contract

Germany’s economy shrank for a second consecutive year in 2024 and is unlikely to grow much in 2025, laying bare the challenge for the country’s new government once snap elections are held in February.

Gross domestic product (GDP) fell by 0.2% after dropping 0.3% in 2023, the statistics office said on Wednesday.

German GDP shrinks for second straight year before election

People in high-risk areas of southern Peninsular Malaysia, Sabah, and Sarawak are reminded to be vigilant and prepared for possible flooding due to the monsoon surge, said Communications Minister Fahmi Fadzil.

As spokesperson for the Unity Government, he stated that this warning was issued following heavy rain forecast by the Malaysian Meteorological Department (MetMalaysia) last Sunday for several affected areas due to the monsoon surge.

Monsoon surge: Be vigilant about MetMalaysia's forecast till Jan 19 — Fahmi

The London Metal Exchange (LME) has approved Bank of Montreal (BMO) as a Category 2 member, the exchange said on Tuesday.

London Metal Exchange approves Bank of Montreal as member

Taiwan's exclusion from the new US curbs on artificial intelligence (AI) chip and technology exports should "give confidence" about Taipei's own controls and respect for the law, the island's government said on Wednesday.

Taiwan says exclusion from new US curbs on AI tech gives it confidence

Malaysia continues to strengthen its position as a leading foreign investment destination even as the Abu Dhabi Investment Authority (ADIA) expresses its commitment to increase investments in Malaysia, said Communications Minister Fahmi Fadzil.

Speaking at a press conference after Wednesday's Cabinet meeting, Fahmi, who is also the Unity Government spokesperson, said this proves foreign investors’ confidence in the country's strong economic prospects.

Malaysia strengthens its position as leading foreign investment destination — Fahmi

Rexit Bhd (KL:REXIT), which provides software as a service, has appointed Tengku Tan Sri Mohamad Rizam Tengku Abdul Aziz, a member of the Kelantan royal family, as its new independent and non-executive chairman.

Rexit appoints Kelantan royalty Tengku Mohamad Rizam as new chair

<p>U Mobile Sdn Bhd will likely struggle to roll out Malaysia’s second 5G network, pushing the company to even consider a merger, said Hong Leong Investment Bank (HLIB).</p>


U Mobile will struggle to roll out second 5G network, may even consider merger — analysts

<p>The Employees Provident Fund's (EPF) investment decisions, including the trading of Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) shares, align with its broader investment objectives and are aimed at generating income required for dividend payments during the financial year.</p>


EPF says investment in MAHB to support dividend payouts

<p>JOHOR BAHRU (Jan 15):&nbsp;A former engineer suffered a loss of RM9.47 million after participating in a non-existent online cryptocurrency investment scheme that claimed to offer high returns.</p>


Ex-engineer loses RM9.47m in cryptocurrency investment scam

<p>Impeached South Korean President Yoon Suk Yeol was arrested and questioned by authorities on Wednesday in relation to a criminal insurrection investigation, saying he was only cooperating with what he called an illegal probe to avoid violence.</p>


South Korean investigators question arrested President Yoon in insurrection probe

<p>MN Holdings Bhd (KL:MNHLDG), a specialist in underground utilities and substation engineering, will experience minimal disruption to its ongoing data centre projects despite recent US export controls on artificial intelligence (AI) chips, according to Phillip Capital.</p>


MN Holdings' key customer largely unaffected by AI chip curbs, says Phillip Capital

<p>Affin Bank Bhd's (KL:AFFIN) ambitious branch expansion plan is expected to keep its cost-to-income ratio (CIR) elevated for the next few years, according to CGS International, which is reiterating its 'reduce' recommendation on the bank.</p>


Affin Bank's expansion plan will keep costs high for next few years, says CGS

<p>KUALA LUMPUR (Jan 15): The five independent directors of Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT) have not been terminated, contrary to a statement made by Machang Member of Parliament Wan Ahmad Fayhsal Wan Ahmad Kamal.</p>


MAHB: Five independent directors not terminated

<p>(Jan 15): At least eight major distressed Chinese firms, including a China Evergrande Group unit, are set to defend themselves in court cases relating to their debt problems over the next two weeks, in one of the busiest stretches ever for such hearings.</p>


Distressed Chinese companies face flurry of court hearings

<p>Malaysia’s exports could grow at a slower pace this year, due to impending higher US tariffs, though trade diversions could provide some cushion, according to think tank Socio-Economic Research Centre (SERC).</p>


Malaysia to take hit from Trump tariffs, but blow could be softened by trade diversion, says think tank

<p>KUALA LUMPUR (Jan 15): Plantation giant SD Guthrie Bhd (KL:SDG), previously known as Sime Darby Plantation, has announced the appointment of Tan Seri Datuk Seri Mohd Zuki Ali as its non-independent and non-executive director.</p>


EPF chairman Mohd Zuki Ali joins SD Guthrie board

<p>Steel products maker Colform Group Bhd has priced its initial public offering (IPO) at 36 sen per share, which will gross up to RM60.63 million, ahead of its listing on the ACE Market.</p>


Steel products maker Colform fixes IPO price at 36 sen to raise over RM60m from ACE Market listing

<p>Datuk Seri Najib Razak said that he "used" fugitive businessman Low Taek Jho (Jho Low) despite his negative reputation for the country's benefit, the court heard on Wednesday.</p>


1MDB-Tanore: I used Jho Low for country's benefit, Najib says

<p>Transport Minister Anthony Loke said he hopes the privatisation of Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT) can be finalised soon.</p>


Frustrated with MAHB's decision-making delays, Loke backs privatisation to boost efficiency

<p>The notion of having economic powerhouse China settle the debts accumulated by troubled state strategic development firm 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd&nbsp;is "absurd", the High Court heard on Wednesday.</p>


China to settle 1MDB debt in 2016? 'Absurd,' says Najib

<p>KUALA LUMPUR (Jan 15): Yinson Holdings Bhd’s (KL:YINSON) move to rope in foreign partners for its production unit would strengthen its own balance sheet and reduce the reliance on debt, analysts said.</p>


Yinson’s move to rope in foreign partners for unit is timely, will strengthen balance sheet, analysts say as shares rise

<p>Global markets treaded water on Wednesday ahead of US consumer price data that could potentially shift the monetary policy outlook there, while investors waited to see if earnings of big banks would match sky-high expectations.</p>


Traders mark time ahead of US CPI, bank earnings

<p>New users have piled in to Chinese social media app RedNote just days before a proposed US ban on the popular social media app TikTok, as the lesser-known company rushes to capitalise on the sudden influx while walking a delicate line of moderating English-language content, sources told <em>Reuters</em>.</p>


Over half a million ‘TikTok refugees’ flock to China's RedNote, Reuters reports

<p>U Mobile Sdn Bhd has inked a memorandum of understanding (MoU) with CIMB Bank Bhd to extend financing support for its upcoming 5G network roll-out.</p>

<p>The MOU marks the latest financing partnership between U Mobile and CIMB&nbsp;of which, in 2021, the bank participated in a RM1.2 billion facility to U Mobile, which was later upsized to RM1.4 billion in 2023.</p>


U Mobile inks MOU with CIMB to finance 5G network roll-out

<p>Sarawak Premier Tan Sri Abang Johari Openg has commended Prime Minister Datuk Seri Anwar Ibrahim’s recognition of Sarawak state-owned Petroleum Sarawak Bhd (Petros) as the state's gas aggregator.</p>


Abang Jo welcomes Anwar's recognition of Petros as Sarawak's gas aggregator

<p>KUALA LUMPUR (Jan 15): The Socio-Economic Research Centre (SERC) has urged the government to reconsider the proposed mandatory Employees Provident Fund (EPF) contribution for foreign workers, to ease financial burdens on businesses.</p>
