<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 16):&nbsp;The local automotive industry registered a decline in new motor vehicles sales in September, as consumers adopted a wait-and-see attitude in anticipation of incentives under the Budget 2024 announcement.</p></div>

<div class=newsTextDataWrapInner><p>In a statement on Monday, the Malaysian Automotive Association (MAA) reported that the total industry volume&nbsp;declined 6.4% to 68,156 units in September,&nbsp;compared with 72,809 units in the preceding month.</p></div>

<div class=newsTextDataWrapInner><p>However, year-to-date&nbsp;vehicle registrations at 571,767 units as of September 2023 were still 11% higher, compared with 514,449 units for the corresponding period in 2022, the MAA said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Total industry production recorded in September 2023 (at 69,133 units) was slightly higher, compared with 67,912 units in August 2023,” it said.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, the MAA forecast&nbsp;vehicle sales in October to be at the same level as in September.</p></div>

<div class="mt-4 embed-left"><a class="mobx embedimg-icon imgw-800" data-desc="" data-rel="ceolightbox" data-title="" href="//assets.theedgemarkets.com/pics/2023/20231016TIV.png"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/20231016TIV.png" /></a></div>


The local automotive industry registered a decline in new motor vehicles sales in September, as consumers adopted a wait-and-see attitude in anticipation of incentives under the Budget 2024 announcement.

Monthly vehicle sales down 6.4% on anticipation of Budget incentives — MAA

WEST PALM BEACH, Florida (Nov 11): Donald Trump is expected to tap US Senator Marco Rubio to be his secretary of state, sources said on Monday, putting the Florida-born politician on track to be the first Latino to serve as America's top diplomat once the Republican president-elect takes office in January.

Trump expected to tap US Senator Marco Rubio for secretary of state, sources say

ValueAct Capital has built a US$1 billion stake in Meta Platforms but is not currently pushing for big changes at the Facebook and Instagram parent, a source familiar with the matter told Reuters on Tuesday.

ValueAct takes US$1 billion stake in Meta, source says

The Ministry of Investment, Trade and Industry (Miti) through its agency the Malaysian Investment Development Authority (Mida) has identified 12 leading Egyptian manufacturing companies interested in exploring investment opportunities in Malaysia.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the companies were interested in exploring investments in the pharmaceutical, medical device, aerospace and petrochemical sectors.

Mida identifies 12 Egyptian companies interested in investing in Malaysia — Tengku Zafrul

Malaysia aims to maintain its strong economic growth momentum while prioritising the sustainable development goals (SDGs), with a particular focus on climate change, renewable energy and emerging technologies — areas where China has demonstrated significant strength.

Malaysia seeks to sustain economic growth with China, focusing on sustainable development goals

Prime Minister Datuk Seri Anwar Ibrahim said that any form of protectionism will affect countries in terms of trade and investment.

Speaking to Richard Quest on CNN recently, Anwar cited an example whereby a huge number of Malaysia’s microchips were exported to United States (US), which accounted for 26%.

Any form of protectionism will affect trade and investment — Anwar

Malaysian Prime Minister Datuk Seri Anwar Ibrahim has criticised what he views as Western media bias in their coverage of the Israel-Palestine conflict, calling for a consistent global stance on human rights.

Anwar condemns Western bias in Gaza discourse, calls for consistency on human rights issues

Prime Minister Datuk Seri Anwar Ibrahim stressed that anyone involved in corruption must be prosecuted in line with the Madani Government's policy stance.

However, Anwar stressed that the action taken must be based on transparency and justice.

Anyone involved in corruption must be prosecuted — Anwar

The government is strengthening ties with developed countries and leading multinational companies in the semiconductor industry in an effort to increase technological collaboration, said the Ministry of Investment, Trade and Industry (Miti).

Govt expands collaboration with global semiconductor players — Miti

A brief recap of some corporate announcements that made news on Tuesday.

Maybank, Hartalega, Heineken Malaysia, Kelington, Tiong Nam, Fajarbaru, Paragon Globe, Atlan, Seremban Engineering, Sapura Energy, MCE and Jati Tinggi

Prime Minister Datuk Seri Anwar Ibrahim expressed confidence in the country’s current and near-future stability, citing positive political shifts and growing public support for his government.

Stability secured through good governance and anti-corruption — Anwar

<p>KUALA LUMPUR (Nov 12): Forest City in Johor&nbsp;is emerging as a strategic hub for businesses and investors, supported by great air and sea connectivity, and is focused&nbsp;on creating economic&nbsp;growth and&nbsp;sustainability, according to its Chinese developer Country Garden Group.</p>


Country Garden: Forest City positioned to become key biz and investment hub

<p>Federal Court judge Datuk Seri Hasnah Mohammed Hashim has been appointed the new Chief Judge of Malaya (CJM), the third-highest position in the judicial hierarchy, confirming a report by <em>The Edge</em> on Monday about her new appointment.</p>


Hasnah Hashim is new Chief Judge of Malaya while former AG Terrirudin is made Fed Court judge

<p>The reason Fajarbaru Builder Group Bhd (KL:FAJAR) pulled out from participating in the affordable housing development in Putrajaya dubbed Residensi Cemara, which is estimated to have a gross development value of RM192 million, was that it had deemed the project "not sustainable" following a change in requirements.</p>


Fajarbaru reveals reason it pulled out of RM192m affordable housing project in Putrajaya

<p>Atlan Holdings Bhd's (KL:ATLAN) 75.53%-owned subsidiary Duty Free International Ltd (DFIL) (5SO.SI), which is listed on the Singapore Exchange, said it is not satisfied with the RM69.9 million compensation for two pieces of land in Bukit Kayu Hitam, Kedah, that Malaysia's Ministry of Home Affairs (KDN) has compulsorily acquired for a road construction project.</p>


Atlan's Singapore-listed unit unhappy with RM70m compensation for compulsory acquisition of land, to file objection to High Court

<p>Heineken Malaysia Bhd's (KL:HEIM) net profit jumped 28.6% to RM112.29 million in the third quarter ended Sept 30, 2024 (3QFY2024), from RM87.33 million a year earlier, lifted by higher revenue and effective cost management.</p>


Heineken Malaysia's 3Q profit jumps 28.6%

<p>A brief recap of some corporate announcements that made news on Tuesday.</p>


<p>Company insolvencies are surging in the UK after the Labour government reduced tax breaks and increased levies for owners.</p>

<p>At least 1,022 companies filed to shut down in the week ended Nov 8, a rise of 64% from a year earlier, according to notices filed to the Gazette.</p>


UK business closures surge after budget hit to employers

<p>Paragon Globe Bhd (KL:PGLOBE) said it has secured the rights to develop 67.42 acres of land in Iskandar Puteri, Johor, for a residential project with an estimated gross development value of RM733.12 million.</p>


Paragon Globe to undertake RM733m GDV residential project in Johor

<p>CTOS Digital Bhd (KL:CTOS) shares climbed as much 7.9% or nine sen on Tuesday after the group posted a 13% rise in its third quarter net profit on a record high revenue, though the results were deemed a miss by Kenanga Research and Hong Leong Investment Bank (HLIB), who lowered their target prices (TPs) for the stock.</p>


CTOS climbs on stronger 3Q profit but analysts cut earnings forecasts, TPs as group flags revenue risks ahead

<p>Sapura Energy Bhd (KL:SAPNRG) said on Tuesday it has accepted the terms and conditions set forth by its multi-currency financing (MCF) creditors for the proposed disposal of its 50% stake in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS for US$705.3 million (RM3.37 billion).</p>


Sapura Energy accepts creditors’ terms on proposed US$705m SapuraOMV disposal

<p>The government expects to raise an additional RM5 billion in revenue by expanding the scope of the sales and service tax (SST), which is set to roll out on May 1 next year, said Finance Minister II Datuk Seri Amir Hamzah Azizan.</p>


Expanded SST could add RM5b to govt revenue for 2025, says Amir Hamzah

<p>Construction and engineering firm Kelington Group Bhd (KL:KGB) has reported a 3.94% increase in its third quarter net profit to RM32.92 million from RM31.67 million a year earlier, thanks to a higher gross profit margin driven by a "strategic focus on revenue composition" and a favourable project mix.</p>


Kelington's 3Q profit increases slightly by 4%, pays two sen dividend

<p>Logistics and warehousing services provider Tiong Nam Logistics Holdings Bhd (KL:TNLOGIS) has declared a share dividend to reward its shareholders, on the basis of one treasury share for every 40 existing shares held.</p>


Tiong Nam Logistics declares 1-for-40 treasury shares to reward shareholders

<p>Lui Che Woo, the Hong Kong tycoon whose fortune grew alongside neighbouring Macau’s casino industry, has died. He was 95.</p>

<p>He died on Nov&nbsp;7, according to a statement released by Galaxy Entertainment Group Ltd, where he was the founder and chairman. “His vision, tremendous leadership and guidance were the foundations for the group’s development and continued success,” the company’s board said in the statement.</p>


Lui Che Woo, casino tycoon who hit jackpot in Macau, passes away at 95

<p>Finance Minister II Datuk Seri Amir Hamzah Azizan said on Tuesday that Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) had invested in FashionValet because the e-commerce platform was seen as "a company with potential" at the time.</p>


FashionValet had potential when Khazanah and PNB invested — Amir Hamzah

<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.</p>


FBM KLCI down 0.05% to 1,608.43 on Nov 12, 2024

<p>Clean energy specialist Solarvest Holdings Bhd (KL:SLVEST) said its 30%-owned unit Selarong Pertama Energy Sdn Bhd (SPESB) has received approval from Tenaga Nasional Bhd (TNB) (KL:TENAGA) to operate as a merchant generator to sell energy to the single buyer from a 29.99 megawatts (MW) facility to be built in Kulim, Kedah.</p>


Solarvest's 30%-owned unit secures approval to operate as merchant generator under Neda

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


EVENING 5: Five things you need to know today

<p>Capital flows into emerging markets (EM) such as Malaysia are expected to remain volatile going into 2025, amid potentially renewed investor interest towards US assets following the recent presidential election won by Donald Trump, said UOB.</p>

<p>Foreign portfolio flows into EMs could be negatively impacted if Trump "follows through with the tariffs pledged during his campaign" such as 10% blanket ex-China import tariffs, the bank said in a note.</p>


Expect volatile capital flows into Malaysia with Trump presidency, says UOB

<p>Qualcomm Inc chief executive officer Cristiano Amon said the artificial intelligence (AI) boom won’t lead to a global chip shortage similar to what happened during the pandemic, even with demand for AI-enabled smartphones rising.</p>
