<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Malaysia Weekly on October 16, 2023 - October 22, 2023</span></p></div><div><img alt="" class="gallery-items" data-high-res-src="https://assets.theedgemarkets.com/pics/2023/TEM1494-infographic-2_theedgemalaysia.jpg" src="" /></div>

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Despite political shifts taking place in Malaysia from early 2020 to late 2022, its economy has attracted sizeable foreign direct investments (FDIs), DBS Group Research’s findings show. In the first of a two-part series exploring FDI dynamics in the Asean-6 (Indonesia, Singapore, Malaysia, Thailand, Vietnam and the Philippines) on the back of China+1 shifts, the bank-backed research house found that FDI inflows into the bloc, as a proportion of world inflows, have exceeded those going into China over the past two years.

Malaysia’s FDI inflows pick up on China+1 policy 

Canadian Deputy Prime Minister Chrystia Freeland said American concerns about Mexico’s trade policy not being in line with its North American allies on China are “legitimate,” and she shares them.

But she did not comment directly on whether Canada should pursue a bilateral trade deal with the US that excludes Mexico, a position advocated Tuesday by the leader of Canada’s largest province, Ontario Premier Doug Ford.

Canada agrees with US concerns about Mexico’s trade with China

Republicans held on to their narrow majority in the US House, giving Donald Trump and his party unified control of the elected branches of government and limiting potential curbs on the incoming president’s power.

The Republican sweep, called by CNN and NBC News on Wednesday, sharply diminishes any hope for Democrats to curtail Trump’s sway over next year’s big fights over trillions of dollars in expiring tax provisions

Trump wins Republican trifecta as GOP retains house majority

(November 14) : South Dakota Senator John Thune, a longtime deputy of Mitch McConnell and an advocate of free trade, won election to lead the Republican Senate majority next year, setting up potential conflicts with President-elect Donald Trump over tariffs and Ukraine aid.

Thune, ...

Senate GOP elects Thune as leader, rejecting Musk’s pick

President-elect Donald Trump on Wednesday named firebrand Republican U.S. Representative Matt Gaetz to be his nominee for attorney general, as he moves swiftly to assemble a Cabinet.

Trump taps firebrand congressman Matt Gaetz for attorney general

Republicans' lock on power in Washington next year will allow President-elect Donald Trump to pursue an aggressive agenda of tax cuts for businesses, workers and retirees that will test his party's often-aired goal of reining in the government's $35 trillion in debt.

Republican sweep gives Trump power to slash taxes, may strain deficits

Stocks wavered as speculation the market has run too far after the US election offset bets the Federal Reserve will keep cutting rates.

Equities lost steam in the final stretch of New York trading, with the S&P 500 almost erasing an advance partly fueled by in-line inflation data. In late hours, Cisco Systems Inc. gave a strong revenue forecast.

S&P 500 struggles to extend post-election advance

Advanced Micro Devices Inc (AMD) is shedding about a thousand jobs as part of an effort to refocus on newer markets like artificial intelligence (AI) chips.

“As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%,” the company said in a statement on Wednesday.

AMD cutting about 4% of workforce to focus resources on AI push

Chinese companies are exploring Germany as a fundraising venue, in a move that could reinvigorate the European market for their global depositary receipts (GDRs).

Two companies are getting ready to test the waters. Renewable-energy firm Sungrow Power Supply Co is planning to seek as much 4.88 billion yuan (RM2.99 billion) in Frankfurt through the sale of GDRs, it said last month.

Chinese firms target Frankfurt revival for European listings

Traders added to wagers that the Federal Reserve will cut interest rates by another quarter point next month after in-line inflation data, spurring gains for treasury debt.

The rally trimmed yields on two-year notes, more closely tied to Fed rate decisions than longer tenors, by as much as 10 basis points (bps) to 4.24%.

Markets see 80% chance of December Fed cut after inflation data

President-elect Donald Trump returned to Washington on Wednesday for the first time since winning last week's election to meet fellow Republicans in Congress and President Joe Biden at the White House.

Trump returns to Washington to meet Biden, Republicans in Congress

<p>United Plantations Bhd (KL:UTDPLT) announced on Wednesday a 60 sen per share dividend payout — comprising a special dividend of 20 sen and an interim dividend of 40 sen — together with a one-for-two bonus issue, as it reported an 8.8% drop in its third quarter net profit&nbsp;following a jump in operating expenses.</p>


United Plantations announces special dividend and one-for-two bonus issue as 3Q profit slips 8.8%

<p>Here is a brief recap of some corporate announcements that made news on Wednesday.</p>


Johor Plantations, United Plantations, VSTECS, Swift Haulage, MHB, Bumi Armada, Dayang Enterprise, Pasdec, and Scientex

<p>Information and communications technology (ICT) products distributor VSTECS Bhd (KL:VSTECS) has posted a 53.79% year-on-year increase in net profit for the third quarter, driven by a record-high revenue.</p>


VSTECS's 3Q profit rises 54% on record revenue, declares 2.8 sen dividend

<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>Aizo Group Bhd (KL:AIZO) has bagged a RM24.1 million sub-contract from China State Construction Engineering (M) Sdn Bhd (CSCE Malaysia) to undertake external infrastructure works for a high-rise residential project in Kuala Lumpur.</p>


Aizo clinches RM24.1 mil job for infrastructure works of high-rise residential project

<p>Dayang Enterprise Bhd (KL:DAYANG) has secured two more contracts to provide pan-Malaysia services to the national oil and gas company Petronas and its production sharing contractors.</p>


Dayang Enterprise gets two more pan-Malaysia services contracts

<p>The late Tun Daim Zainuddin, who passed away on Wednesday morning at 86, was widely recognised for his pivotal role as former prime minister Tun Dr Mahathir Mohamad’s chief economic troubleshooter.</p>


Politicians pay tribute to Tun Daim’s passing

<p>Palm oil producer Johor Plantations Group Bhd (KL:JPG) said on Wednesday it is optimistic on the remaining months of the year thanks to strong prices after net profit rose 13% in the third quarter.</p>


Johor Plantations optimistic as prices stay high after net profit rises 13% in 3Q

<p>The Health Ministry (MOH) on Wednesday said it is exploring the use of the Diagnostic Related Groups (DRG) — a system that categorises hospital patients based on the complexity of their cases to determine the cost of treatment and fixed reimbursement charges, rather than itemising each charge — for private hospitals, amid surging hospital bills.</p>


MOH exploring use of Diagnostic Related Groups to address surging private healthcare costs

<p>Uzma Bhd (KL:UZMA) has been appointed as a panel contractor by national oil company Petroliam Nasional Bhd (Petronas) for integrated well continuity services pan-Malaysia.</p>


Uzma bags five-year pan-Malaysia well services job from Petronas

<p>Newly-listed logistics company AGX Group Bhd (KL:AGX) said it entered into a deal on Wednesday to provide freight forwarding and customs brokerage services to Capital A Bhd’s (KL:CAPITALA) wholly owned maintenance, repair and overhaul (MRO) unit.</p>


AGX to provide freight forwarding services to Capital A’s MRO unit

<p>Logistics firm Swift Haulage Bhd (KL:SWIFT) said on Wednesday its net profit was lower in the third quarter largely due to one-off gain that inflated the previous year’s corresponding period.</p>


Swift Haulage 3Q net profit down on absence of one-off gain, capacity expansion on track

<p>China unveiled tax incentives on home and land transactions on Wednesday, aiming to support the crisis-hit property market by increasing demand and easing developers' financial difficulties.</p>


China unveils tax incentives to revive struggling property sector

<p>The Malaysian embassy in Jakarta is working to evacuate 83 Malaysians stranded in Labuan Bajo, East Nusa Tenggara, following the closure of Komodo International Airport due to the eruption of Mount Lewotobi Laki-Laki volcano on Flores Island.</p>


Lewotobi volcano eruption: Malaysian embassy working to evacuate 83 stranded Malaysians

<p>Carlsberg Brewery Malaysia Bhd (KL:CARLSBG) has invested RM200 million to upgrade to its bottling and canning lines alongside high-precision filtration systems.</p>


Carlsberg Malaysia invests RM343 mil for capacity expansion and optimisation of energy usage

<p>Packaging solution provider Scientex Bhd (KL:SCIENTX) said it has established a multi-currency Islamic medium-term notes programme of RM1.5 billion in nominal value.</p>

<p>The group, which lodged the Sukuk Wakalah Programme with the Securities Commission Malaysia on Wednesday, said proceeds from the issuance of the sukuk will be used to finance and reimburse capital expenditure.</p>


Scientex establishes RM1.5 bil multi-currency sukuk programme

<p>Bumi Armada Bhd (KL:ARMADA) said its floating production storage and offloading (FPSO) vessel, <em>Armada TGT1</em>, has secured a two-year charter extension worth US$74.4 million (RM330.93 million).</p>


Bumi Armada’s FPSO gets contract extension worth RM331 mil

<p>A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve (Fed) officials face in trying to bring price pressures fully under control.</p>


US inflation stays firm for third month with 0.3% core CPI gain

<p>The Association of Asia Pacific Airlines (AAPA) has questioned the benefit of government mandates targeting flight delays, arguing it merely targets the symptom of the root cause — a disrupted supply chain.</p>


Airlines body questions knee-jerk policies on delayed flights

<p>PUC Bhd (KL:PUC) said its external auditor Messrs UHY had expressed a qualified opinion on its audited financial statements for the 18 months ended June 30, 2024 (from Jan 1, 2023 to June 30, 2024).</p>
