<div class=newsTextDataWrapInner><p>(June 26):&nbsp;Malaysia is in discussions with potential Chinese investors to build data centres in the Southeast Asian nation, as it seeks to attract more “high quality” investments, according to Economy Minister Rafizi Ramli.</p></div>

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<div class=newsTextDataWrapInner><p>The government will strengthen its infrastructure offering to take advantage of the artificial-intelligence boom, Rafizi said in an interview with <em>Bloomberg Television</em>’s Stephen Engle.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p id="vjs_video_3_component_406_description">US tech giants Microsoft Corp, Google and Nvidia Corp&nbsp;had already announced plans to build data centres in Malaysia in the past year, and Chinese companies are interested in developing more to serve the nation’s tech firms that want to enter the Southeast Asian market, he said.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We are looking to expedite Malaysia’s transition from the backend part of the semiconductor industry to the frontend,” with integrated-circuit design and data centres, Rafizi said.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The minister said he had not held discussions with Chinese companies on using their Malaysian operations as a base to circumvent US tariffs.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/705069" target="_blank">YTL Power set to deploy and manage Nvidia’s AI supercomputer in Johor</a>&nbsp;<br />
<a href="https://theedgemalaysia.com/node/713588" target="_blank">Google to invest US$2b for data centre and cloud region in Malaysia</a>&nbsp;<br />
<a href="https://theedgemalaysia.com/node/710078" target="_blank">Microsoft to invest US$2.2 bil in Malaysia over next four years on cloud, AI</a></em></p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Liza Shireen Koshy</em></p></div>
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(June 26): Malaysia is in discussions with potential Chinese investors to build data centres in the Southeast Asian nation, as it seeks to attract more “high quality” investments, according to Economy Minister Rafizi Ramli.

Rafizi: Malaysia taps Chinese investors to build more data centres

The government has approved 115,000 applications for cash subsidies on diesel from individual vehicle owners under the Budi Madani initiative as of July 1, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Govt approves 115,000 Budi Madani applications as of July 1

The Melaka state government aims to register 400 exporting companies with the Malaysia External Trade Development Corporation (Matrade) to enhance productivity and profitability.

Chief Minister Datuk Seri Ab Rauf Yusoh disclosed that as of last June, a total of 268 companies in Melaka, out of 13,018 companies nationwide had registered with Matrade.

Melaka targets to register 400 companies with Matrade to boost export productivity

The Klang Valley residential property market saw more new completions and transactions recorded during the first quarter this year than in 1Q2023, says Savills Malaysia director of research and consultancy Fong Kean Hwa in presenting The Edge Malaysia | Savills Klang Valley Residential P...

The Edge Malaysia | Savills Klang Valley Residential Property Monitor 1Q2024: More residential properties completed,  changed hands in the quarter

WHILE two prominent hospital operators — IHH Healthcare Bhd (KL:IHH) and Sunway Healthcare — have emerged as potential suitors for the 600-bed Island Hospital in Penang in a deal said to be worth between RM3.76 billion and RM4.7 billion, the question arises as to whether such a price is justified...

Are IHH and Sunway prepared to pay more than RM4 billion for Island Hospital?

Indonesia is preparing to impose tariffs and use other means to protect its textile industry from imports from China, the latest in a series of nations that are responding to the flood of goods out of the world’s largest manufacturing nation.

Indonesia seeks to protect textile industry from Chinese goods

The Malaysian Bar, which is challenging former prime minister Datuk Seri Najib Razak’s pardon, which saw his jail sentence halved and his fine quartered, told the High Court on Tuesday that its challenge is over the interpretation of Article 40(1A) of the Federal Constitution (FC).

Bar says novel issue in its challenge over Pardons Board’s decision to halve Najib’s SRC sentence

The Ministry of Education (MOE) will work closely with the Ministry of Higher Education (MOHE) to ensure that all top scorers in the Sijil Pelajaran Malaysia (SPM) are placed in the matriculation programme.

Education Minister Fadhlina Sidek said that the government has opened the appeal process for matriculation placements widely to accommodate all exceptional students.

MOE, MOHE to coordinate matriculation placement of all top SPM scorers — Fadhlina

Singapore’s largest bank DBS Group Holdings Ltd will for the first time custody stablecoin reserves and offer related cash management services in a tie-up with the local unit of cryptocurrency issuer Paxos Trust Co.

Singapore’s DBS boosts digital-asset push with first stablecoin tie-up

The European Central Bank (ECB) doesn’t yet have sufficient evidence that inflation threats have passed, president Christine Lagarde and her top economist said — feeding expectations that officials will take a break from cutting interest rates this month.

With the eurozone job market robust, the ECB has time to assess incoming information, Lagarde said Monday in Sintra, Portugal, where she opened the ECB’s annual central-banking forum.

Lagarde says ECB needs time to evaluate inflation uncertainties

Malaysia’s fiscal spending for the first five months of the year underscored an urgent need to reform fuel subsidies so that the country can meet its 2024 deficit target, according to Citigroup Inc.

Malaysia's spending shows urgency for fuel subsidy cuts, says Citi

<p>Malaysia’s government policies are positioning the nation’s stocks as a long-term winner in the region, with a nearly 10% rally likely to extend, according to one of Asia’s top-performing funds.</p>


Fund with 24% returns bets on long-term stock rally for Malaysia

<p>UUE Holdings Bhd (KL:UUE) surged 175% in its trading debut on Tuesday after the engineering firm’s initial public offering (IPO) on the ACE Market raised RM38.97 million.</p>


UUE Holdings jumps 175% on ACE Market debut

<p>Hong Leong Investment Bank (HLIB) Research has maintained its “overweight” rating on the oil and gas sector with unchanged average Brent oil price forecasts at US$85 (RM400.96) per barrel (bbl) for 2024/2025.</p>


HLIB stays overweight on oil and gas sector, names Dialog, Armada, Velesto as top picks

<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


SC adds three entities to Investor Alert List

<p>Steve Ballmer passed Bill Gates on Monday to become the sixth-richest person in the world, the first time the former chief executive officer of Microsoft Corp has been wealthier than the company’s co-founder.</p>


Ballmer is richer than Gates, a first for Microsoft billionaires

<p>MIDF Research is optimistic about the ringgit strengthening to approximately 4.43 versus the greenback by year end, while Maybank Investment Bank remains cautious, expecting the US dollar's strength to keep the local currency around 4.70-4.75 levels until some potential relief later in 2024.</p>


MIDF bullish on ringgit; Maybank cautious about USD pressure on MYR

<p>There is no policy paper yet allowing the implementation of subsidy cuts for RON95, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>While there have been studies on shifting away from blanket subsidies towards a targeted approach for RON95, Anwar said the government intends to evaluate the outcomes of rationalising subsidies on electricity, chicken and diesel for now.</p>


No policy paper yet on slashing RON95 subsidies, says Anwar

<p>The US dollar hit a near 38-year high to the yen on Tuesday following a surge in Treasury yields as investors contemplated prospects of a second Donald Trump presidency.</p>


Yen hits 38-year low, Nikkei surges as Trump risk buoys US yields

<p>BMI, a Fitch Solutions company, has retained its 2024 forecast that the Malaysian ringgit will appreciate later this year, rising from RM4.70/USD currently to RM4.55/USD by end-2024.</p>


Ringgit to strengthen gradually in 4Q2024 — BMI

<p>Megacap growth stocks led by Apple and Tesla lifted the tech-heavy Nasdaq to a higher close on Monday, while the Dow and the S&amp;P 500 also eked out slight gains in light pre-holiday trading.</p>


Apple, Tesla lifts stocks to higher close in light pre-holiday trading

<p>Malaysia’s manufacturing sector is still on track for growth, economists said and shrugged off the slight contraction in June’s purchasing managers’ index (PMI).</p>


Economists say Malaysia's manufacturing sector still on track for growth, shrug off June's dip

<p>Prime Minister Datuk Seri Anwar Ibrahim stressed that the Madani Government remains resolute despite facing criticism for unpopular decisions such as implementing targeted diesel subsidy and taking strict measures against corruption.</p>


Madani govt remains resolute despite facing criticism for unpopular decisions — Anwar

<p>Main Market-bound Johor Plantations Group Bhd’s (KL:JPG) net profit for the first quarter ended March 31, 2024 (1QFY2024) more than doubled to RM49.97 million from RM23.4 million a year earlier, as revenue for the quarter rose to RM294.91 million versus RM251.98 million previously.</p>


Johor Plantations 1Q net profit more than doubles to RM49.97 mil

<p>MIDF Research and Kenanga Research maintained their stance on Telekom Malaysia Bhd (KL:TM) following the group’s recent win of a 12-year concession from the government to develop and operate the new Next Generation Emergency Services 999 (NG999) system.</p>

<p>MIDF in a note on Tuesday kept its neutral recommendation on TM with an unchanged target price of RM7.03, primarily due to the continuation of the existing emergency services project.</p>


Analysts maintain neutral stance on Telekom, cites marginal contribution from newly secured govt concession

<p>Engineering firm UUE Holdings Bhd (KL:UUE), which surged 175% in its trading debut on Tuesday, has set its sights to actively pursue tenders for electricity projects in Singapore, said its independent non-executive chairman Lee Chye Tee.</p>

<p>Speaking at the company’s listing, Lee said the group is committed to further expanding its services in Singapore due to demand for underground utilities engineering solutions there.</p>


Newly listed UUE Holdings on active lookout for electricity projects in Singapore

<p>Shares of Jentayu Sustainables Bhd (KL:JSB) plunged to their lowest in nearly six months, prompting a suspension in intraday short-selling of the renewable energy company’s stock on Tuesday.</p>


Jentayu Sustainables shares fall to near six-month low, intraday short-selling suspended

<p>Medical insurance premiums have increased by 50%, or even doubled in some cases, over the past three to four years. If the trend persists, it will render medical insurance unaffordable for many Malaysians, says Sun Life Malaysia CEO and president Raymond Lew.</p>

<p>Several factors have contri...

Insurance: Will medical insurance be a luxury for Malaysians?

<p>KUALA LUMPUR (July 2): theedgemalaysia.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday. One stock showed positive momentum, while eight stocks showed negative momentum.</p>

<p>The stocks with positive momentum was:</p>

<p>&nbsp;&nbsp;&nbsp; Seng Fong...

Senfong, Hiaptek, MediaC, Evergrn, Solid, Rohas, AIM, MClean, Cloudpt

<p>The president of the US has been elevated to the status of "a king above the law." The occupant of the White House may order assassinations of political rivals without fear of prosecution. America's leader may now be insulated from criminal consequences for whatever he or she wants to do in office.</p>


US Supreme Court liberals lament ruling making the president 'a king above the law'

<p>A surge of Chinese plastic supply is threatening to overflow in the face of weak domestic demand, morphing into a fresh trade challenge for the rest of the world.</p>
