<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 11): US-based MKS Instruments, Inc said on Tuesday that it plans to build a factory in Penang to support wafer fabrication equipment production in the region and globally.</p></div>

<div class=newsTextDataWrapInner><p>MKS, which makes instruments, subsystems, systems, and process control products, will construct the new facility in three phases, the Malaysian Investment Development Authority (Mida) said in a statement. Groundbreaking is expected to commence in early 2025, the state agency noted.</p></div>

<div class=newsTextDataWrapInner><p>Financial details of the project were not disclosed.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“This new facility highlights Malaysia’s attractiveness as a strategic hub for innovation and manufacturing, reflecting the company’s confidence in our highly skilled workforce and favourable business environment,” said Mida chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid.</p></div>

<div class=newsTextDataWrapInner><p>Penang is home to a strong semiconductor ecosystem with close proximity to MKS’ customers and suppliers and robust technology infrastructure, Dr John TC Lee, chief executive officer of MKS, said in the same statement.</p></div>

<div class=newsTextDataWrapInner><p>“Expanding our business in Malaysia is an important milestone for our company, as we seek to continue to enhance our capabilities as a leader across a broad array of semiconductor manufacturing applications,” he said.</p></div>


KUALA LUMPUR (June 11): US-based MKS Instruments, Inc said on Tuesday that it plans to build a factory in Penang to support wafer fabrication equipment production in the region and globally.

US-based MKS Instruments to build a factory in Penang

Visa Inc customers with eligible debit cards will be able to deposit funds into their Coinbase Global Inc accounts — sometimes instantly — via a partnership announced by the payment giant and crypto exchange.

Visa, Coinbase offer real-time crypto purchases via debit cards

Axis Real Estate Investment Trust (KL:AXREIT) has raised RM449.73 million through a private placement exercise, which will be used to support the REIT's strategy to pursue high-quality, yield-accretive acquisitions, and enhance its existing portfolio.

Axis REIT successfully raises RM449.7m via private placement

BlackRock Inc is in advanced talks to buy HPS Investment Partners, emerging as the only suitor in active talks with the firm as the world’s largest asset manager seeks to compete in the fast-growing private credit industry.

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US Treasury Secretary Janet Yellen said that fraud in the banking system is becoming a huge problem, and that her department is now using artificial intelligence (AI) to detect and deal with the issue.

Yellen says fraud is huge, growing problem in US banking system

UBS Group AG chairman Colm Kelleher said that his bank is eventually looking to buy another US wealth management firm to expand its presence there, once the Credit Suisse integration is complete.

UBS ultimately wants to buy a US wealth manager, says chairman

Elon Musk’s artificial intelligence (AI) startup xAI is seeking new funding at a roughly US$40 billion (RM175.12 billion) valuation, according to a person familiar with the matter, just months after a separate financing for the startup brought in US$6 billion.

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The mechanism for the proposed targeted subsidy for RON95, set for implementation in the middle of next year, is still being refined by the Ministry of Finance (MOF).

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Malaysia and the European Union (EU) are looking into the next steps towards officially resuming negotiations on the Malaysia-EU Free Trade Agreement (FTA).

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The Ministry of Investment, Trade and Industry (Miti) is conducting four anti-dumping investigations involving iron and steel products and plastic imported from China.

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Asian stocks eked out gains following mixed results from Wall Street tech companies and as traders prepare for next week’s US election and Federal Reserve (Fed) rate decision.

Asian stocks climb after mixed tech results

<p>Symphony Life Bhd’s former chief financial officer Ng Ying Yiing and former group adviser Datuk David Goh were charged at the Sessions Court in Shah Alam for using RM2.57 million in company funds to purchase shares in Cycle and Carriage Bintang Bhd (CCB), without board approval.</p>


Symphony Life's ex-CFO, adviser charged for using company funds to buy Cycle and Carriage Bintang shares

<p>While Symphony Life Bhd’s former group chief financial officer Ng Ying Yiing was charged on Tuesday for using company funds to purchase shares in Cycle and Carriage Bintang Bhd (CCB) without board approval, the Industrial Court last week separately awarded her RM792,000 in back wages and had seemingly absolved her of wrongdoing in its judgment.</p>


Ex-Symphony Life CFO awarded RM729,000 in back pay over wrongful dismissal

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


Symphony Life, Frontken, Unisem, LPI Capital, Infoline Tec, Tasco, TM, Kumpulan Kitacon, Chin Teck, Techna-X

<p>Telekom Malaysia Bhd (KL:TM) has appointed Ahmad Fairus Rahim as its new group chief financial officer (CFO), effective Nov 1.</p>


TM promotes Ahmad Fairus Rahim as new finance chief 

<p>The European Union will impose higher tariffs peaking at 45% on electric vehicles from China, ratcheting up trade tensions between the world’s leading export powers.</p>


EU presses ahead with tariffs on China EVs, risking retaliation

<p>Gold reached a record in early Asian trading on Wednesday, as traders digested the latest US economic data and weighed potential market disruption ahead of the looming presidential election.</p>


Gold hits fresh record high as US data, election race fan demand

<p>The fast acceleration of the electric vehicle (EV) market over the last few years has hit a speed &nbsp;bump as demand for the vehicles &nbsp;has noticeably declined recently.&nbsp;</p>


Global EV demand plateaus

<p>Asian stocks eked out gains following mixed results from Wall Street tech companies and as traders prepare for next week’s US election and Federal Reserve (Fed)&nbsp;rate decision.</p>


<p>Construction outfit Southern Score Builders Bhd (KL:SSB8) is eyeing a transfer to the Main Market.</p>


ACE Market-listed Southern Score plans Main Market transfer

<p>A rally in some of the largest tech companies pushed stocks higher, with Alphabet Inc rising in late hours as earnings beat estimates.</p>

<p>The Nasdaq Composite hit an all-time high, while the S&amp;P 500 saw a mild gain. Between Tuesday and Thursday, big techs with a combined market value of more than US$12 trillion (RM53 trillion) report their quarterly results. Shares of Google’s parent climbed 3.5% after the close of regular trading. Advanced Micro Devices Inc&nbsp;sank 6% amid a lacklustre revenue forecast.</p>


Nasdaq hits record as Alphabet jumps in late hours

<p>Wall Street was little changed on Tuesday as investors assessed a host of corporate results and awaited Google-parent Alphabet's earnings later in the day.</p>


Wall Street muted ahead of Alphabet earnings

<p>Investors are selling yen and taking shelter in cash, India, pockets of China's markets and Singapore dollars ahead of a US&nbsp;election that could shake out global money and trade flows.</p>


Investors take cover in Asia ahead of US election

<p>US job openings fell in September to the lowest since early 2021 and layoffs picked up, consistent with a slowdown in the labour market.</p>

<p>Available positions decreased to 7.44 million from a downwardly revised 7.86 million reading in August, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS, showed on Tuesday.</p>


US job openings drop to lowest level since early 2021

<p>Oil extended losses following its biggest drop in more than two years on Monday as signs of a potential de-escalation of Israel’s Lebanon offensive offset the prospect of more stimulus in China.</p>


Oil prices fall for second day as Israel talks outweigh China stimulus

<p>The Ministry of Investment, Trade and Industry (Miti) is conducting four anti-dumping investigations involving iron and steel products and plastic&nbsp;imported from China.</p>


<p>China’s BYD Co is hiring the former UK chief of Stellantis NV, according to people familiar with the matter, as the EV maker builds a team of European executives to lead its expansion in the region.</p>


BYD said to hire former Stellantis UK boss for Europe push

<p>Four German lenders have sued the nation’s industry watchdog to get back their share of a €2.3 billion (RM10.83 billion) restructuring fund they were forced to pay into in the wake of the 2008 financial crisis.</p>


German lenders sue regulator Bafin to demand pay back of €2.3 bil bank levy

<p>The&nbsp;mechanism for the proposed&nbsp;targeted subsidy for RON95, set for implementation in the middle of next year, is still being refined by the Ministry of Finance (MOF).</p>


<p>The Bank of Japan (BOJ) is widely expected to stand pat on Thursday in the face of elevated uncertainty, as financial markets brace for the US presidential election after Japan’s polls resulted in a lack of clarity over its next government.</p>


BOJ to sit tight as Japan, US elections elevate uncertainty

<p>Malaysia and the European Union (EU) are looking into the next steps towards officially resuming&nbsp;negotiations on the&nbsp;Malaysia-EU Free Trade Agreement (FTA).</p>
