CIMB Group Holdings is projecting lower growth in its overall loan portfolio of between 5% and 7% for FY2024, compared with the strong 8.3% y-o-y growth it achieved in FY2023. Group CEO Datuk Abdul Rahman Ahmad explains why.</div><div class=inPageAd id=div-gpt-ad-inpage>

NEWS: CIMB sees slower loans growth in 2024

Two of the world’s largest commodities traders have painted a bleak picture on the outlook for the oil market, echoing concerns over Chinese demand and plentiful supply on day one of the Appec conference.

The mood from Asia’s biggest gathering of oil executives, traders and investors in Singapore was overwhelmingly bearish, highlighted by a gloomy forecast for Brent crude by Trafigura Group.

Trafigura says oil set for US$60s, but don’t be too bearish

Prime Minister Datuk Seri Anwar Ibrahim has emphasised that the public must recognise the importance of balancing human rights and freedom with responsibility to maintain the nation’s peace and stability.

Human rights, freedom must be balanced with responsibility to safeguard national peace — Anwar

Bangladesh aims to move beyond its image as merely a source of migrant labour for Malaysia and is focused on establishing itself as a strategic partner across multiple sectors, according to Bangladesh High Commissioner to Malaysia, Md Shameem Ahsan.

Bangladesh aims to shift image from labour supplier to strategic partner with Malaysia, says High Commissioner

HONG KONG (Sept 9): Japan has emerged as a standout in Asia's subdued US$400 billion (RM1.74 trillion) hedge fund sector, drawing fund launches, while other regions suffer closures in an indicator that wild volatility in August has not derailed a revival in Japanese capital markets.

Hedge funds flock to Japan as market heats up

Indonesia has agreed to set a moratorium on the construction of hotels, villas and nightclubs in some areas on the tourist resort island of Bali, as it grapples with the over-development of land, a senior ministry official said on Monday.

Bali to ban building of some hotels to prevent over-development

Former European Central Bank (ECB) president Mario Draghi called on the European Union (EU) to invest as much as €800 billion (RM3.86 trillion) extra a year and commit to the regular issuance of common bonds to make the bloc more competitive with China and the US.

Former ECB head Draghi says EU itself at risk without more funds and joint debt

Lee Thiam Wah’s first retail venture was selling snacks from a roadside stall in Malaysia. Several decades later, the entrepreneur has transformed that humble beginning into a sprawling retail empire of more than 2,600 convenience stores across the nation.

Mini-mart king hits billionaire status in Malaysia’s hot IPO market

A wholesale and retail chain company was fined RM20,000 by the Magistrate's Court here Monday for selling cosmetics without notification from the Ministry of Health (MOH) last year.

Magistrate Farah Nabihah Muhammad Din meted out the sentence against Mydin Mohamed Holdings Berhad, represented by Raja Azlan Raja Ismail, 40, and Roslizan Mohd Zin, 50, after they pleaded guilty to the two charges.

Mydin fined RM20,000 for selling cosmetic products without MOH notification

World equities dithered at four-week lows on Monday, pressured by falling stocks in Asia, while European shares climbed on the prospect of a European Central Bank (ECB) rate cut on Thursday, government bond yields rose, and oil recovered from last week's beating.

World stocks dip, European shares jump on ECB rate cut hopes

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Monday.

FBM KLCI slips 0.1% to 1,651.49 on Sept 9, 2024

Shares of 99 Speed Mart Retail Holdings Bhd (KL:99SMART) closed up 23 sen or 13.94% on its market debut at RM1.88, valuing the mini market group at RM15.79 billion, based on its issued capital of 8.4 billion shares.

99 Speed Mart the 32nd largest firm by market cap after 14% rise on Bursa debut

Lee Thiam Wah’s first retail venture was selling snacks from a roadside stall in Malaysia. Several decades later, the entrepreneur has transformed that humble beginning into a sprawling retail empire of more than 2,600 convenience stores across the nation.

Shares of Gamuda Bhd (KL:GAMUDA) fell as much as 4.32% in the morning session on Monday, on news of an embankment collapse at its construction site for the Sungai Rasau Water Supply Scheme (Stage 1) project at Taman Mas, Puchong.

Gamuda shares down 4% on Rasau project embankment collapse

For an airline with the tag line “Malaysian Hospitality”, Malaysia Airlines is struggling to cope with providing its customers with a pleasant travel experience.

The last three months have been particularly difficult for the national carrier, which was on the path to profitability after...

Alternative Views: Malaysia Airlines flies into a perfect storm

The High Court here has allowed Messrs Chellam Wong to set aside a restraining order obtained by public-listed Country Heights Holdings Bhd (KL:CHHB) for filing a winding-up petition against it (Country Heights) over RM425,060 in unpaid debt since September 2023, over legal services the law firm had provided in relation to the company’s corporate exercise.

Law firm succeeds in setting aside restraining order for filing winding-up petition against Country Heights over legal fees owed

Japanese companies are increasingly abandoning an approach to business in China that once seemed immune to politics, a stark shift after years when they were the biggest single investors in their neighbour’s economy. &nbsp;

Japan’s companies sour on China after years of brushing off risk

RHB Research has upgraded the basic construction materials sector to 'overweight'&nbsp;from 'neutral', amid a positive outlook on aluminium and cement companies under its coverage.

RHB upgrades basic construction materials to 'overweight', Cahya Mata Sarawak the top pick

For the fourth consecutive week, foreign investors have purchased equities in Malaysia, with net purchases recorded every day last week, according to MIDF Research.

Foreign investors continue to buy Malaysian equities for fourth consecutive week

Newly listed on Bursa Malaysia's Main Market, 99 Speed Mart Retail Holdings Bhd (KL:99SMART) has not ruled out expanding into Southeast Asia if suitable opportunities arise.

99 Speed Mart weighs Southeast Asian expansion plans

KAJANG (Sept 9): Malaysia’s property transaction value soared to RM105.65 billion in the first half of 2024 (1H2024), marking a 23.8% year-on-year (y-o-y) increase — the highest in five years — according to the National Property Information Centre (Napic).

Malaysia’s property sales surge 23.8% y-o-y to RM105b in 1H2024, says Napic

World equities dithered at four-week lows on Monday, pressured by falling stocks in Asia, while European shares climbed on the prospect of a European Central Bank (ECB) rate cut on Thursday, government bond yields rose, and oil recovered from last week's beating.

New zero-emission electric vehicles (ZEVs) will now be required to have standardised&nbsp;number plates called “JPJePlate”, according to Transport Minister Anthony Loke Siew Fook.

Standardised number plates now required for new zero-emission EVs; e-bidding for special numbers begins

Marriott International Inc officially opened the Penang Marriott Complex along Gurney Drive in George Town, Penang, on Sunday.

The 55-storey tower comprises three components, the 223-room Penang Marriott Hotel, the 90-suite Marriott Executive Apartments, Penang, and the 302-unit Marriott Residences Penang, according to a press release on Monday. Following the opening of Penang Marriott Complex, Marriott International now has 50 properties in Malaysia.&nbsp;

Marriott International officially opens Penang Marriott Complex at Gurney Drive

Prime Minister Datuk Seri Anwar Ibrahim said on Monday that he had received an "appreciation" letter from US Secretary of Commerce&nbsp;Gina Raimondo, following the government's cooperation in investment by US airplane manufacturer Boeing in Malaysia.

Anwar says received 'appreciation' letter from US secretary of commerce for supporting Boeing's investment in Malaysia

Tenaga Nasional Bhd or TNB (KL:TENAGA) has obtained an interim stay from the High Court over it having to pay RM1.39 billion in additional tax to the Inland Revenue Board (IRB).

TNB obtains interim stay over IRB seeking RM1.39b tax bill

FOLLOWING the successful launch of 99 Speed Mart Retail Holdings Bhd’s initial public offering (IPO), competitor KK Supermart &amp; Superstore Sdn Bhd is mulling a flotation exercise as well, sources familiar with the matter tell The Edge.

KK Supermart, commonly known as KK Mart, operat...

KK Mart said to be revisiting IPO plan

UOB Global Economics &amp; Markets Research said expectations for imminent loosening of US Federal Reserve monetary policy will encourage reallocation of global flows towards emerging markets in Asia, including Malaysia, given the macro resilience of the region.

UOB sees further capital inflows into Malaysia, positive interest rate differentials to support stronger ringgit

TOKYO (Sept 9): Japan's Nikkei share average fell more than 2% on Monday, with technology stocks among the biggest decliners, tracking heavy losses among Wall Street peers in the previous session.

Japan’s Nikkei sinks 2% as tech stocks track Wall Street slide

Eversendai Corporation Bhd (KL:SENDAI) Eversendai Corporation Bhd (KL:SENDAI) has&nbsp;won new contracts worth RM1.1 billion worth in India, Singapore and Saudi Arabia, which it said brought its order book to a new record high of RM6.7 billion.

Eversendai order book hits new record of RM6.7b after RM1.1b job wins  

（吉隆坡9日讯）99 Speed Mart Retail Holdings Bhd（KL:99SMART）首日上市主板溢价23仙或13.94%，以1.88令吉挂收，市值达157亿9000万令吉。