<div class=newsTextDataWrapInner><p>JAKARTA (Oct 13): Apple launched the iPhone 16 globally on Sept 10; however, its official marketing in Indonesia has been delayed due to pending permits from the Ministry of Industry.</p></div>

<div class=newsTextDataWrapInner><p>The delay is primarily linked to the expiration of Apple's Domestic Component Level (TKDN) certification, which needs to be renewed, as well as a shortfall in promised investments totalling 1.71 trillion rupiah (around US$109.5 million).</p></div>

<div class=newsTextDataWrapInner><p>"Apple previously held this certification, but it has now lapsed," said Industry Minister Agus Gumiwang Kartasasmita on Friday (Oct 11), as quoted by the local news outlet <em>Kontan TV</em>.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>He added that the ministry is also awaiting the tech giant to fulfill its promised investment.</p></div>

<div class=newsTextDataWrapInner><p>To date, only 1.48 trillion rupiah has been realised, leaving a shortfall of approximately 240 billion rupiah, Agus noted, expressing hope that the company will meet its investment commitment.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Liza Shireen Koshy</em></p></div>


JAKARTA (Oct 13): Apple launched the iPhone 16 globally on Sept 10; however, its official marketing in Indonesia has been delayed due to pending permits from the Ministry of Industry.

Indonesia delays Apple’s iPhone 16 sale after shortfall in promised investment

Some of the most prominent artificial intelligence models are falling short of European regulations in key areas such as cybersecurity resilience and discriminatory output, according to data seen by Reuters.

EU AI Act checker reveals Big Tech's compliance pitfalls

Republican presidential candidate Donald Trump said South Korea would pay billions of dollars more every year to host US troops if he were in the White House, calling the long-time US ally a “money machine”.

“If I were there now, they’d be paying us US$10 billion (RM42.94 billion) a year and you know what, they’d be happy to do it,” Trump told Bloomberg News editor-in-chief John Micklethwait on Tuesday in an interview at the Economic Club of Chicago. “It’s a money machine, South Korea.”

Trump wants South Korea to pay more for US troops

Global fund managers increased their allocation to China at India's expense after Asia's largest economy unleashed a stimulus package, according to a survey conducted by BofA Securities.

Global fund managers pare India allocation in favour of China, BofA survey shows

Pekat Group Bhd (KL: PEKAT) is well-positioned to capitalise on substantial growth opportunities driven by Malaysia’s rising demand in the renewable energy sector, Tenaga Nasional Bhd’s (KL: TENAGA) infrastructure upgrade and from the surge in data centres investment, said Phillip Capital.

Pekat to capitalise on rising solar energy and data centre opportunities in Malaysia, says Phillip Capital

The US and partners including South Korea and Japan unveiled a new plan to keep an eye on North Korea’s nuclear weapons development after a Russian veto earlier this year triggered the end of monitoring by a United Nations (UN) panel of experts.

US unveils 11-nation plan to monitor North Korea’s nuke threat

Investors in chip stocks are facing a fresh gut check after a tepid outlook from key equipment supplier ASML Holding NV sparked a global rout in the sector.

Global chip stocks shed US$420b after ASML warning

LVMH shares plunged after sales of fashion and leather goods fell for the first time since the Covid-19 pandemic, revealing the scale of the slump in demand from once insatiable Chinese consumers. 

Organic revenue at the key unit whose brands include Louis Vuitton and Christian Dior declined 5% in the third quarter. That was the worst performance since the second quarter of 2020, when the world went into lockdown.

LVMH plunges as China's luxury spending slowdown worsens

Stellantis NV’s global vehicle shipments slumped by a fifth in the third quarter as the automaker tries to trim its bloated inventories.

Shipments fell to about 1.15 million vehicles, led by a 36% drop in the key North American market, Stellantis said on Wednesday.

Stellantis shipments drop 20% as CEO trims inventories

Hong Kong eased its mortgage rules to allow homebuyers to fork out lower down payment, aiming to address a prolonged property slump in the city.

The loan-to-value (LTV) ratio of all residential properties is now set at 70%, Chief Executive John Lee said in his policy address on Wednesday. The change reduces the required down payment for homes valued above HK$35 million (US$4.5 million or RM19.35 million), which had a ratio of 60% previously. Meanwhile, the LTV ratio of company-held properties was raised to 70% from 60%.

Hong Kong relaxes mortgage rules to bolster property market

Gold is expected to climb to record highs over the next year, according to a survey of the bullion industry at a major annual gathering.

Gold industry sees bullion surging 10% in a year to record high

<p>ASML Holding NV’s shares plunged the most in 26 years after it booked only about half the orders analysts expected, a startling slowdown for one of the bellwethers of the semiconductor industry.</p>

<p>The Dutch company, which makes the world’s most advanced chipmaking machines, lowered its guidance for 2025 and reported bookings of €2.6 billion (US$2.8 billion or RM12.2 billion) in the third quarter, missing an average estimate of €5.39 billion by analysts surveyed by <em>Bloomberg.</em></p>


ASML shares plunge as bookings miss signals chipmaker woes

<p>Stocks got hit as a disappointing outlook from Europe’s most-valuable tech company and concern about tighter US restrictions on chip sales spurred a selloff in the industry that has powered the bull market.</p>


Wall St halts rally as Nvidia, ASML getting crushed

<p>Shares of Malayan Flour Mills Bhd (KL:MFLOUR) fell to their lowest in more than five months on Wednesday, following an announcement that the company would not be getting a second earnout payment from a stake sale.</p>


Malayan Flour Mills falls to five-month low after announcing no second earnout from stake sale

<p>KUALA LUMPUR (Oct 16): Despite strong gains this year, construction stocks are “not yet ripe for profit-taking” as continuous project flow is expected through 1H2025, on the back of infrastructure and industrial developments, said RHB Investment Bank Research (RHB IB).</p>


Construction stocks ‘not yet ripe for profit-taking’, steady project flow to continue through 1H2025 — RHB IB

<p>A syndicate involved in bringing in foreigners&nbsp;using a 'counter-setting' method, allegedly orchestrated by enforcement agency personnel at the country's air entry points, is among the topics to be discussed in the Dewan Rakyat&nbsp;on Wednesday.</p>


Syndicate bringing in foreigners among issues in Parliament for the day

<p>A legal complaint by Genting Malaysia Bhd’s (KL:GENM) joint-venture partner filed in Florida could affect its bid for a casino licence in New York, CGS International warned in a note.</p>


Genting's New York casino bid could be affected by complaint in Florida, CGS warns

<p>Asian equities fell on Wednesday after disappointing earnings from Europe's&nbsp;biggest tech firm ASML dragged&nbsp;chip stocks&nbsp;around the world, while expectations that the US Federal Reserve&nbsp;(Fed) will take a modest rate cut path propped up the dollar.</p>


Chip stocks lead Asian markets lower; China in focus

<p>RHB Bank Bhd (KL:RHBBANK) could see stronger results in the upcoming quarter, as margins widen amid strong loan growth, said Hong Leong Investment Bank in raising its profit forecasts.</p>

<p>The net interest margin — the difference between interests charged on loans and returns paid to depositors — may continue to “hold up well”, the research house said in a note. Loan growth is still robust at the guided 6.5%-7.0% for 2024 despite recent currency swings, it added.</p>


RHB Bank could see stronger results in coming quarter, says Hong Leong in raising estimates

<p>LBS Bina Group Bhd (KL:LBS) officially launched its latest 315-acre township development named Rimbawan in Genting Highlands, Pahang on Tuesday (Oct 15). The township has a gross development value (GDV) of RM9.5 billion.</p>


LBS Bina unveils RM9.5 bil GDV Rimbawan township in Genting Highlands; Budget 2025 wishlist

<p>Former prime minister Tun Dr Mahathir Mohamad has been hospitalised at the National Heart Institute (IJN), resulting in the postponement of&nbsp;his defamation suit against Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.</p>

<p>Lawyer Mior Nor Haidir Suhaimi, representing Mahathir, informed the court on Wednesday that the two-time PM was rushed to the IJN on Tuesday&nbsp;evening due to a lung infection.&nbsp;</p>


Tun M hospitalised, suit against Zahid over ancestry comments postponed

<p>Scams remain prevalent in Malaysia, with 74% of Malaysians encountering them at least once a month, according to a report conducted by the Global Anti-Scam Alliance (GASA) of scam trends affecting the country.</p>


Scams a growing problem in Malaysia

<p>Flights operated under Malaysia Airlines experienced fewer delays in September on a month-on-month basis, but still fell short of the sector target set by the Ministry of Transport (MOT) and Malaysian Aviation Commission (Mavcom) earlier this year.&nbsp;</p>


Malaysia Airlines improved on-time performance in September, but missed sector target — Loke

<p>KUALA LUMPUR (Oct 16): The government is in the process of finalising the procurement of an advanced passenger screening system (APSS), as part of its efforts to combat syndicates that allegedly bring in foreign workers illegally.</p>


Govt to procure screening system to tackle syndicates smuggling in foreign workers — home minister

<p>Three of Southeast Asia’s biggest economies will unveil monetary policy decisions from 3pm Malaysian time on Wednesday, influenced by everything from politics, inflation and currency volatility to geopolitical risks.</p>


Southeast Asia’s central banks face duelling rate calls

<p>In response to market speculation about inheritance tax reintroduction in Budget 2025, the Real Estate and Housing Developers’ Association (Rehda) Malaysia said the approach would hinder Malaysians from purchasing homes as an investment tool.</p>


Inheritance tax will discourage Malaysians from investing in homes, says Rehda Malaysia

<p>KUALA LUMPUR (Oct 16): AirAsia X Bhd’s (KL:AAX) shareholders and proxies have voted 99.08% in favour of the proposed RM6.8 billion acquisition of AirAsia’s aviation business — AirAsia Bhd and AirAsia Aviation Group Ltd — from its sister company Capital A Bhd (KL:CAPITALA).</p>


AAX shareholders approve RM6.8b aviation assets buy from Capital A

<p>Republican presidential candidate Donald Trump defended his plans to overhaul the US economy through dramatic tariff increases and more direct consultation with the Federal Reserve (Fed), arguing that his policies would result in substantial growth despite projections that his agenda would fuel inflation and spike the national debt.</p>


Trump defends tariff plan while pressing for more Fed influence

<p>The ringgit has shown a stronger performance versus regional currencies, driven by investor confidence in the country's reform agenda.</p>

<p>Finance Minister II&nbsp;Datuk Seri Amir Hamzah Azizan&nbsp;said that investors' confidence is premised on the clear direction of&nbsp;the Madani Economy&nbsp;Framework and the implementation of policy reforms, including the Public Finance and Fiscal Responsibility Act, as well as targeted subsidies for electricity, water, and diesel.</p>


Govt reforms supporting ringgit's strength versus regional currencies, says Amir Hamzah

<p>Crescendo Corporation Bhd (KL:CRESNDO) said on Wednesday that it is buying SGR Land Development Sdn Bhd and taking on its six land purchase obligations in Johor for RM168.85 million.</p>


Crescendo to buy SGR Land, assume Johor land purchase agreements in RM169m deal

<p>KUALA LUMPUR (Oct 16): The Ministry of Plantation and Commodities has approved financing applications amounting to RM52.9 million under the Smallholder Oil Palm Replanting Financing Incentive Scheme (TSPKS) 2.0.</p>
