<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 26): Malaysia is now more selective in choosing foreign direct investment,&nbsp;with a focus on projects that would&nbsp;greatly benefit the country, especially in the field of artificial intelligence (AI) and data technology, said Prime Minister Datuk Seri Anwar Ibrahim.</p></div>

<div class=newsTextDataWrapInner><p>He said the opening of a data centre that used to depend on cheap energy and water&nbsp;to move and cool the operating system is now no longer sufficient.</p></div>

<div class=newsTextDataWrapInner><p>"Now, if you want to [establish]&nbsp;a data centre, you must have AI,” he said, referring to projects like Nvidia's in Johor.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"This is&nbsp;an example of how technology needs to be improved to remain relevant," he said at the Ilmuan Malaysia Madani Forum here on Wednesday&nbsp;organised by Tenaga Nasional Bhd (KL:<a href="/askedge/klse/5347" class="ce-stock" target="_blank">TENAGA</a>).</p></div>

<div class=newsTextDataWrapInner><p>Anwar said universities in this country should also be empowered to produce a skilled workforce in the field of AI and engineering in order&nbsp;to meet the needs of high-tech investors.</p></div>

<div class=newsTextDataWrapInner><p>"If the investment is big...we are now more selective in choosing the ones that can benefit the country more," he explained.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, touching on Budget 2025 to be tabled in Parliament on Oct 18, Anwar outlined education and health as the main priorities, with the highest allocation given to the education sector, followed by health.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Tham Yek Lee</em></p></div>


Malaysia is now more selective in choosing foreign direct investment, with a focus on projects that would greatly benefit the country, especially in the field of artificial intelligence (AI) and data technology, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia now more selective in choosing foreign investment for country's greater benefit — PM

A weekly round-up of tanker and dry bulk market (Nov 8, 2024)

Baltic Exchange shipping updates: Nov 8, 2024

Chinese President Xi Jinping told Italian President Sergio Mattarella that China is willing to import more of Italy’s high-quality products and expand their business ties.

Xi says China willing to boost imports, business ties with Italy

Singapore Airlines on Friday flagged its earnings would stay under pressure despite robust travel demand in the second half of the year, while it reported a profit fall reflecting stiff market competition coupled with rising costs.

Singapore Airlines flags earnings pressure from tough competition

REDtone Digital Bhd (KL:REDTONE) said on Friday that it has ceased to be a substantial shareholder of HeiTech Padu Bhd (KL:HTPADU) after disposing of a 1.01% stake in the open market.

REDtone ceases to be substantial shareholder in HeiTech Padu

JF Technology Bhd (KL:JFTECH) is acquiring stakes in Singapore-based companies for a combined value of about RM26 million, in a bid to expand its business and market reach globally.

JF Tech buys into Singapore-based semiconductor firms for RM26 mil

EVENING 5: Five things you need to know today

Investors hoping China would announce extra fiscal buffers for an economy girding for another Donald Trump presidency were disappointed on Friday.

China's top legislative body, the standing committee of the National People's Congress (NPC), did as was expected, approving bills to allow local governments to allocate 10 trillion yuan (US$1.4 trillion) towards reducing off-balance sheet, or "hidden", debt.

China's latest stimulus falls short of expectations

EVENING 5: Muhyiddin ordered to pay RM1.35 mil in damages to Guan Eng

Singapore Prime Minister Lawrence Wong said he has yet to decide when the next general election will be held.

Stating that the people will know once the process begins, he emphasised that he has “all the time from now until the end of next year” to decide.

Singapore PM says timing of general election still undecided

China gave indebted local governments a 10 trillion yuan  (US$1.4 trillion or RM6.12 trillion)  lifeline but stopped short of unleashing new stimulus, preserving room to respond to a potential trade war when Donald Trump takes office next year.

China unveils US$1.4 tril debt swap, saves stimulus for Trump

<p>Maxis Bhd’s (KL:MAXIS) continuous efforts to recruit subscribers with lower prices are paying off.&nbsp;</p>

<p>The telecommunications company announced that its net profit grew by 28% for the three months ended Sept 30, 2024 (3QFY2024), helped by a larger subscriber base, coupled with a drop in staff costs after earlier lay-offs.</p>


Maxis 3Q net profit rises 28% with more subscribers, lower staff costs

<p>Pentamaster Corp Bhd (KL:PENTA) led the fall among semiconductor-related counters on Bursa Malaysia on Friday, after the company announced that its quarterly net profit tumbled to a six-year low.&nbsp;&nbsp;</p>


Gloomy earnings outlook puts semiconductor-related stocks under selling pressure

<p>Donald Trump's recent US election&nbsp;win will affect Malaysian exporters, but is largely neutral for domestic growth, the ringgit, and the equity market, said CGS International.</p>


Trump presidency largely neutral for Malaysia, while market consolidation offers buying opportunities — CGS

<p>Former deputy international trade and industry minister Professor Dr Ong Kian Ming wondered if are there plans for Digital Nasional Bhd to transition fully to a 100% mobile network operator-owned entity, so that it can compete fairly with U Mobile once the second 5G network is rolled out to a high enough area of coverage.</p>


Questions on the second 5G network

<p>Russian President Vladimir Putin congratulated Donald Trump on his victory in the US presidential election, and said he is ready to hold discussions with the new American leader.</p>


Putin says Trump’s proposals on Ukraine deserve attention

<p>Renewable energy producer Cypark Resources Bhd (KL:CYPARK) announced on Friday that its chief financial officer (CFO) Vinie Chong Pui Ling has resigned, just three months after her appointment on Aug 15.</p>


Cypark CFO resigns after just three months in role

<p>China gave indebted local governments a 10 trillion yuan &nbsp;(US$1.4 trillion or RM6.12 trillion) &nbsp;lifeline but stopped short of unleashing new stimulus, preserving room to respond to a potential trade war when Donald Trump takes office next year.</p>


<p>Hong Leong Investment Bank (HLIB) proposed that revisiting the Shenton House acquisition could present a prime opportunity for IOI Properties Group Bhd (KL:IOIPG), given the favourable market conditions.</p>


Revisiting acquisition of Shenton House 'best available option' for IOI Properties — HLIB

<p>Analysts are&nbsp;positive about Axiata Group Bhd's (KL:AXIATA) focus on emerging markets&nbsp;while reaping benefits from the CelcomDigi merger over a longer term.</p>


Analysts positive on Axiata's emerging-market focus, CelcomDigi merger benefits

<p>United Overseas Bank Ltd (UOB)&nbsp;led Singapore bank stocks to record highs on Friday after delivering a hefty profit beat, led by wealth and trading gains.</p>

<p>UOB rose more than 9% as it reported third-quarter profit that climbed to S$1.64 billion (US$1.24 billion or RM5.44 billion). The bank also signalled the potential for more returns to investors through a share-buyback programme. Oversea-Chinese Banking Corp’s (OCBC) stock rose almost 2%.</p>


Singapore bank shares surge to records on wealth, trading gains

<p>99 Speed Mart Retail Holdings Bhd’s (KL:99SMART) net profit dipped 3.5% to RM107.16 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM111.06 million a year ago, dragged by higher administrative and other operating spending. This included one-off special staff bonuses and initial public offering (IPO) listing expenses totalling RM23.2 million.</p>

<p>Excluding the one-off expenses, 99 Speed Mart said in a statement its normalised net profit increased 13.2% to RM126 million in 3QFY2024 from RM111.27 million in 3QFY2023.</p>


99 Speed Mart posts RM107.16m 3Q profit, down 3.5% on-year due to one-off expenses

<p>Home appliance distributor Milux Corp Bhd (KL:MILUX) received an unconditional mandatory takeover offer on Friday from ABS Capital Sdn Bhd to acquire all the remaining shares it does not own, at 43.2 sen per share.</p>


Company linked to Exsim's Lim brothers buys 63.88% stake in Milux, triggering mandatory takeover at 43.2 sen per share

<p>Communications Minister Fahmi Fadzil said on Friday it is too early to reveal the specific conditions that will be imposed on U Mobile Sdn Bhd to lead the second 5G network.</p>


Fahmi says still premature to reveal conditions set for U Mobile on second 5G network

<p>CYBERJAYA (Nov 8): Malaysia is set to experience 20% to 40% more rainfall during the upcoming Northeast Monsoon season, compared to a year earlier, according to the Meteorology Department.</p>


Malaysia braces for up to 40% more rainfall this monsoon season, officials say

<p>SUNGKAI (Nov 8): FGV Holdings Bhd (KL:FGV), one of the world’s largest producer of crude palm oil (CPO), said it is actively working with its clients to facilitate the export of crude-palm-kernel-oil (CPKO) products that comply with the European Union Deforestation Regulation (EUDR) into Europe.</p>


FGV working closely with clients to facilitate export of crude-palm-kernel-oil products

<p>Malaysian benchmark palm oil futures are expected to trade above and around RM5,000 per tonne until June 2025, supported by tight supply and bullish demand, leading industry analyst Dorab Mistry said on Friday.</p>


Malaysia palm oil futures seen around and above RM5,000 per tonne until mid-2025, analyst Mistry says

<p>WASHINGTON&nbsp;(Nov 7):&nbsp;Donald&nbsp;Trump's&nbsp;Republicans were projected to pick up another US Senate seat on Thursday, and appeared to be retaining their narrow hold on the House of Representatives, putting them&nbsp;on track to control both chambers of Congress&nbsp;next year.</p>


Republicans widen Senate majority, on track to win House

<p>At about the same time my article “Hidden danger in consuming ‘dark calories’” was published on theedgemalaysia.com (July 17, 2024), the Seed Oil Free Alliance unveiled its “Seed Oil Free Certified” food label. In my article, I recommended avoiding seed oils from sunflower, corn, soybean and cott...

My Say: Seed Oil Free Certification in the US a boost for palm oil?

<p>KUALA LUMPUR (Nov 8): As the year-end 11.11 sale is approaching, e-commerce giant Lazada Malaysia introduced AI Lazzie, an artificial intelligence (AI) shopping assistant to help users navigate, discover and shop on the platform.</p>


Lazada launches new AI assistant on its app

<p>Genting Singapore Ltd’s shares fell to a two-year low, after analysts downgraded the stock following lacklustre third-quarter results from the firm.</p>

<p>The shares dropped as much as 7.7% to hit the lowest since October 2022, before paring some losses. The company reported a net income of S$79.4 million (US$60 million or RM263.4 million) for the three months ended September, missing estimates by a wide margin.</p>
