Category: Business

WASHINGTON: US economy shrank for the first time in three years in the first quarter of this year, according to data released Thursday by the US Commerce Department, reported Xinhua. US gross domestic product dropped 0.5 per cent in the January-March period from a year ago, the Commerce Department reported Thursday in its final report.… Continue reading US GDP shrinks first time in three years

PETALING JAYA: ACE Market newcomer Pan Merchant Bhd, a provider of solid-liquid filtration solutions, is prioritising emerging industries such as wastewater treatment and sustainable fuel to drive business growth and expand untapped markets. Managing director Wong Voon Ten said the company sees rising demand for sustainable fuel solutions from major energy players, driven by the… Continue reading Pan Merchant sees opportunities in wastewater treatment, sustainable fuel sectors

KUALA LUMPUR: Top Glove Corporation Bhd expects demand for gloves to grow with opportunities to capture additional sales from the United States when there is more clarity on issues surrounding US tariffs. It also said the tariff imposed by the US on China products is unlikely to be lower than Malaysia’s. Managing director Lim Cheong… Continue reading Top Glove optimistic on growing demand for gloves, additional sales from US

KUALA LUMPUR: KPJ Healthcare Bhd expects age-related and non-communicable disease (NCD) cases to contribute about 70% of its business volume this year. Its president and managing director Chin Keat Chyuan said that currently, about 15% of Malaysia’s general population is aged 60 and above. “Age comes with many associated diseases like NCDs, the three highs… Continue reading KPJ Healthcare expects age-related and NCD cases to contribute 70% to business this year

Faizal said DNeX is aggressively pursuing new opportunities to expand global footprint while strengthening domestic market presence. CYBERJAYA: Dagang NeXchange Bhd (DNeX) remains committed to driving long-term value creation for shareholders while advancing Malaysia’s digital transformation agenda. This commitment is reinforced through ongoing efforts to position DNeX as a prominent player in the semiconductor, energy,… Continue reading DNeX reinforces strategic direction for growth and technology leadership

KUALA LUMPUR: DHL has reaffirmed its longstanding partnership with the Malaysian Investment Development Authority (Mida) through the signing of a new nemorandum of understanding (MOU). Under this renewed collaboration, all four DHL business divisions operating in Malaysia – DHL Express, DHL Supply Chain, DHL Global Forwarding, and DHL eCommerce – will work closely with Mida… Continue reading DHL and Mida to elevate Malaysia’s logistics and supply chain ecosystem

KUALA LUMPUR: The Malaysia Internet Exchange (MyIX) expects internet traffic to continue its strong upward trajectory throughout 2025 and beyond, fuelled by rising demand for real-time applications, AI-powered services and high-definition content. Its chairman Chiew Kok Hin said that Malaysia’s digital economy is becoming increasingly reliant on fast, secure and low-latency connectivity as more consumers… Continue reading MyIX expects internet traffic in Malaysia to keep rising

KUALA LUMPUR: The Israel-Iran conflict is expected to have only a short-term impact on crude oil prices, according to Minister of Finance II Datuk Seri Amir Hamzah Azizan. He said that while prices surged sharply during renewed hostilities, oil prices quickly retreated as signs of peace talks and ceasefire efforts emerged between the two countries.… Continue reading Short-term impact on oil prices from Israel-Iran conflict: Amir Hamzah

KUALA LUMPUR: Integrated engineering solutions provider Oxford Innotech Bhd is capitalising on the surging demand in the semiconductor, electric vehicle, and modular building systems sectors to fuel growth. With the outlook for Malaysia’s engineering solutions industry remaining robust, projected to expand at a compounded annual growth rate (CAGR) of 10% to RM38.2 billion by 2027,… Continue reading Oxford Innotech to ride on surging demand in engineering solutions industry growth

KUALA LUMPUR: PricewaterhouseCoopers Malaysia Holdings Sdn Bhd (PwC Malaysia) will anchor a new 39-storey office building in Tun Razak Exchange (TRX), reinforcing Kuala Lumpur’s position as a leading global business hub. Finance Minister II Datuk Seri Amir Hamzah Azizan highlighted the move as a milestone for TRX’s growth as an International Financial Centre. Speaking at… Continue reading PwC Malaysia’s TRX entry boosts KL as global financial hub

KUALA LUMPUR: Tun Razak Exchange (TRX) has commenced construction on its 10th commercial tower, with completion expected by the second quarter of 2029. The 39-storey development aims to meet increasing demand for high-end office space in Kuala Lumpur’s financial district. TRX City Sdn Bhd chief executive officer Datuk Azmar Talib stated that the new tower… Continue reading TRX to complete 10th tower by 2Q 2029 amid rising demand

KUALA LUMPUR: The expansion of Malaysia’s Sales and Service Tax (SST) base is a carefully considered policy decision that balances fiscal responsibility with economic stability, according to RHB Investment Bank Bhd (RHB IB). The bank described the move as a measured approach to reinforce the country’s fiscal position while minimising negative impacts on growth, inflation,… Continue reading SST base expansion a prudent fiscal move, says RHB IB

KUALA LUMPUR: The ringgit extended its gains against the US dollar on Thursday, buoyed by comments from US Federal Reserve (Fed) chair Jerome Powell highlighting uncertainty over the inflationary impact of tariffs. At 8 am, the local note strengthened to 4.2255/2475 against the greenback from Wednesday’s close of 4.2335/2405. Bank Muamalat Malaysia Bhd chief economist… Continue reading Ringgit rises against US dollar as markets digest Fed’s tariff caution

KUALA LUMPUR: Malaysia, which is currently the sixth largest exporter of semiconductors globally, can be Kyrgyz Republic’s gateway to ASEAN, said Deputy Investment, Trade and Industry Minister Liew Chin Tong. In return, Malaysia can tap on the strength of the republic as its entry point to Central Asia’s region, he said. Kyrgyz Republic, which is… Continue reading Malaysia can be Kyrgyz Republic’s gateway to ASEAN – Liew Chin Tong

PUTRAJAYA: The official launch of the Startup ASEAN platform today marks a transformative step forward in strengthening regional collaboration, serving as a central digital hub for entrepreneurs, investors, governments and ecosystem builders across all ASEAN member states. ASEAN Secretary-General Dr Kao Kim Hourn said the platform reflects ASEAN’s strong commitment to deepening regional integration, while… Continue reading Startup ASEAN Platform a step forward for regional integration – ASEAN sec-gen

MOSCOW: Deputy Prime Minister Datuk Seri Fadillah Yusof today began his official working visit in the Russian capital with a bilateral meeting with his counterpart Alexei Overchuk. Fadillah, who is also the Minister of Energy Transition and Water Transformation, was accompanied by Deputy Foreign Minister Datuk Mohamad Alamin, and Malaysia’s Ambassador to Russia Datuk Cheong… Continue reading Malaysia, Russia explore new cooperation opportunities including energy sector

PUTRAJAYA: Malaysia is targeting to onboard at least 10,000 startups by the end of this year under the newly launched Startup ASEAN platform. The platform serves as a regional digital gateway to connect and empower startups, investors and talents across Southeast Asia. Minister of Science, Technology and Innovation (MOSTI), Chang Lih Kang, said the platform… Continue reading Malaysia targets 10,000 startups under ASEAN Platform by year-end – MOSTI

KUALA LUMPUR: In 2024, Manulife Holdings Bhd (MHB) achieved a rise in its profit before tax (PBT) to RM185.4 million, supported by strong business fundamentals. Manulife Investment Management (MIM) also saw its assets under management grow by 18% year-over-year to RM17.2 billion as of end of 2024, surpassing the industry average for equity and fixed… Continue reading Manulife to up its game this year after strong 2024

KUALA LUMPUR: Glomac Bhd, a property developer with ongoing projects across Greater Kuala Lumpur, Selangor and Johor, reported revenue of RM74.9 million and profit before tax (PBT) of RM12.1 million in the fourth quarter of its financial year ended April 30, 2025 (Q4’25). For the full financial year ended April 30, 2025 (FY25), Glomac recorded… Continue reading Glomac profit before tax rises to RM33.4m in FY25

KUALA LUMPUR: iCents Group Holdings Bhd, a provider of cleanroom services, will not be impacted by the US reciprocal tariffs as the company does not generate revenue from the United States. However, some of its customers and end-users in Malaysia may be affected, since they manufacture products that are ultimately exported to the US market.… Continue reading iCents escapes impact from US reciprocal tariffs, looks forward to market expansion

KUALA LUMPUR: More Malaysian firms should become vendors and suppliers to hyperscalers and data centre operators (such as AWS, Google and Microsoft), said the Malaysian Investment Development Authority (Mida). CEO Sikh Shamsul Ibrahim Sikh Abdul Majid said this is part of the agency’s broader “Built by Malaysia” approach that champions local content, technology transfer and… Continue reading Mida urges local companies to become vendors, suppliers to hyperscalers and data centre operators

SINGAPORE/BEIJING: Top thermal coal importers China and India are slashing Indonesian shipments of the power generating fuel in favour of energy-dense grades from elsewhere as a global fall in prices has made higher-quality coal more competitive. Coal purchases by China and India from Indonesia, the world’s biggest exporter, are dropping faster than their overall thermal… Continue reading China, India cut Indonesian coal imports for higher quality

INDIAN shares rose on Wednesday, tracking a global risk-on rally, after tensions in the Middle East eased following a fragile ceasefire between Israel and Iran. The Nifty 50 added 0.63% to 25,204.6 points and the BSE Sensex rose 0.67% to 82,600.44 as of 10:24 a.m. IST. All 13 major sectors logged gains. The broader smallcaps… Continue reading Indian shares rally as Middle East tensions ease

KUALA LUMPUR: The ringgit extended its upward momentum to open higher against the US dollar and other major currencies on Wednesday, after the United States (US) Federal Reserve (Fed) signalled it was in no hurry to cut interest rates, opting instead to monitor the economy’s trajectory, an analyst said. At 8 am, the local note… Continue reading Ringgit extends gains as Fed signals rate hold

GOLD prices edged higher on Wednesday, supported by a pullback in the U.S. dollar and Treasury yields, as markets monitored the fragile truce between Israel and Iran. Spot gold was up 0.1% at $3,328.18 per ounce, as of 0425 GMT, after hitting on Tuesday its lowest level in more than two weeks. U.S. gold futures… Continue reading Gold rises as dollar dips, ceasefire eases market fears

KUALA LUMPUR: Malaysia recorded a net inflow of foreign direct investment (FDI) totalling RM51.5 billion in 2024, up from RM38.6 billion in the preceding year, according to Department of Statistics Malaysia (DOSM). In a statement, the department noted that total income earned by foreign companies in Malaysia rose to RM99.8 billion compared to RM88.4 billion… Continue reading Malaysia’s FDI hits RM51.5b in 2024, up from RM38.6b

LONDON: The Governor of the Bank of England has said the unpredictability of world events, including tariffs and conflict in the Middle East, makes it hard to determine the outlook for the UK economy. Andrew Bailey said he viewed domestic issues as more important than global ones when it comes to setting interest rates, reported… Continue reading Global turmoil clouds UK rate outlook – Bank of England

OPENAI chief executive Sam Altman had a call with Microsoft CEO Satya Nadella on Monday and discussed their future working partnership, Altman said in a New York Times podcast on Tuesday. Earlier this month, the Wall Street Journal reported that Microsoft, the AI startup’s major backer, and OpenAI are discussing revising the terms of Microsoft’s… Continue reading Altman, Nadella discuss future of OpenAI-Microsoft deal

MINNEAPOLIS Federal Reserve Bank President Neel Kashkari on Tuesday said that while recent inflation readings suggest disinflation is underway, the central bank is taking its time to get more clarity on whether tariffs will change that, and by how much. “The Federal Reserve has basically been in wait and see mode, saying we need to… Continue reading Fed in wait and see mode amid tariff uncertainty, Kashkari says

NEW YORK: Global coffee demand is projected to fall 0.5% in 2025 due mostly to higher prices as coffee companies continue to pass on to consumers their higher costs to replenish stocks, said Dutch bank Rabobank in a quarterly report on Tuesday. “Pent-up retail price increases continue to take place despite the recent drop in… Continue reading Global coffee demand to dip in 2025 amid high prices

CHILE’S economy could achieve higher growth by implementing structural reforms to improve investment efficiency, labor force participation, and public-private research and development collaboration, the International Monetary Fund said on Tuesday. WHY IT’S IMPORTANT Chile’s economic growth slowdown, from 6.2% annually in the 1990s to below 2% in the 2020s, has fueled debates over fiscal sustainability… Continue reading IMF urges Chile reforms to boost slowing economic growth

SUBANG JAYA: Taylor’s Education Group (TEG) has institutionalised environmental, social and governance (ESG) principles across its three higher education institutions and seven international schools in Malaysia, Singapore and Vietnam. Chairman Datuk Loy Teik Ngan said this is a coordinated, group-wide push towards climate-conscious learning and campus operations. “At Taylor’s, we see sustainability as a core… Continue reading Taylor’s scales ESG across 10 regional schools and campuses

SHANGHAI: US cafe chain Starbucks said it is not currently considering a full sale of its China operations, after Chinese financial magazine Caixin reported that it was, without disclosing where it obtained the information. Starbucks has held preliminary talks with more than a dozen potential buyers, Caixin also reported on Monday, citing sources who did… Continue reading Starbucks not considering full China exit

TAOYUAN: Taiwan’s China Airlines is postponing the retirement of some of its older aircraft due to delays in getting Boeing 787-9 jets that may result in compensation payments from the planemaker, the carrier’s newly appointed chairman said. Taiwan’s oldest airline, established in 1959, is in the midst of a fleet renewal, last year splitting an… Continue reading China Airlines holds on to older planes amid 787 delays

PETALING JAYA: Paramount Corporation Bhd posted a profit before tax (PBT) of RM22.6 million (Q1’24: RM17 million) for the first quarter of 2025 (Q1’25) supported by revenue of RM217.8 million (Q1’24: RM172.6 million). Profit attributable to shareholders rose by 87% to RM14.4 million (Q1’24: RM7.7 million). The property segment remains the group’s primary revenue driver,… Continue reading Paramount CEO happy with Q1 sales momentum

NEGERI SEMBILAN: The Negeri Sembilan Menteri Besar Incorporated, known as Menteri Besar Negeri Sembilan (Pemerbadanan) (Mbins), today signed two significant agreements with SD Guthrie Bhd, marking a key milestone for the development of the Port Dickson Free Zone (PDFZ), a cornerstone project within the Malaysia Vision Valley 2.0 (MVV 2.0). The first agreement involves the… Continue reading Negeri Sembilan MB inks strategic land agreements with SD Guthrie to kickstart Port Dickson Free Zone

Supratechnic brand was established in 1968 and is a wholly owned subsidiary of Singapore-based Supratechnic Pte Ltd, which USP Group indirectly owns. Supratechnic (M) Sdn Bhd, a wholly-owned indirect subsidiary of Singapore mainboard-listed USP Group Ltd, has been appointed as the official dealer for Honda Marine in Johor, Malacca and Pahang, following a strategic partnership… Continue reading Supratechnic appointed official dealer for Honda Marine in Johor, Malacca and Pahang

LONDON: Oil prices sank and stock markets jumped Tuesday, even as uncertainty reined over a Israel-Iran ceasefire. In volatile trading, crude futures slumped more than 5% after US President Donald Trump’s declaration of a ceasefire. The oil market went on to reduce its losses, however, as Israel and Iran accused each other of breaking the… Continue reading Oil slides, stocks jump amid Iran-Israel ceasefire uncertainty

KUALA LUMPUR: The government has introduced new tax incentives to strengthen the venture capital (VC) and private equity (PE) sectors in the country, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said the new incentive offers a concessionary tax rate of 5% for up to 10 years for investment funds that invest at… Continue reading Govt introduces new tax incentives to strengthen venture capital, private equity sectors

KUALA LUMPUR: Malaysia is at a crossroads, balancing its deep economic ties with China while relying on US security guarantees and Western investment flows. While Chinese companies increasingly shape the country’s digital infrastructure, Malaysia’s financial markets remain closely linked to Western systems. Tunku Laksamana of Negeri Sembilan Tunku Datuk Seri Utama Naquiyuddin ibni Almarhum Tuanku… Continue reading Malaysia at crossroads of deep ties with China and reliance on Western systems: Tunku Naquiyuddin

KUALA LUMPUR: Malaysia is navigating a complex global environment shaped by geopolitical tensions, ongoing trade wars and the impact of tariffs across industries. Despite these challenges, the country is presented with significant opportunities in artificial intelligence, digital transformation and green technologies, requiring a thoughtful balance between risk and potential. Malaysia Semiconductor Industry Association president Datuk… Continue reading Malaysia navigating global challenges in digital transformation

SHANGHAI: US cafe chain Starbucks said it is not currently considering a full sale of its China operations, after Chinese financial magazine Caixin reported that it was, without disclosing where it obtained the information. Starbucks has held preliminary talks with more than a dozen potential buyers, Caixin also reported on Monday, citing sources who did… Continue reading Starbucks not considering full China exit

TAOYUAN: Taiwan’s China Airlines is postponing the retirement of some of its older aircraft due to delays in getting Boeing 787-9 jets that may result in compensation payments from the planemaker, the carrier’s newly appointed chairman said. Taiwan’s oldest airline, established in 1959, is in the midst of a fleet renewal, last year splitting an… Continue reading China Airlines holds on to older planes amid 787 delays

PETALING JAYA: Aircraft Propeller Service (APS), a global leader in aircraft propeller maintenance, repair and overhaul (MRO), today opened its state-of-the-art MRO facility in Malaysia to serve the country and Asia-Pacific region. The world-class MRO centre reinforces APS’ long-term commitment to the Asia-Pacific region, the world’s largest market for turboprop aircraft. The facility in Selangor… Continue reading Aircraft Propeller Service opens state-of-the-art MRO facility in Selangor

PETALING JAYA: The Securities Commission Malaysia (SC) today introduced the Guidelines on Product Governance (PGG), aimed at strengthening investor protection as well as encouraging responsible product development and distribution in the capital market. This initiative is part of the SC’s market and regulatory reforms towards enhancing industry conduct and market integrity. Among others, the PGG… Continue reading Securities Commission launches Guidelines on Product Governance

EUROPEAN shares climbed more than 1% on Tuesday after U.S. President Donald Trump announced a ceasefire between Iran and Israel, boosting investor sentiment and risk appetite across global markets. The pan-European STOXX 600 index was up 1.4% at 542.6 points, as of 0708 GMT. Other major regional indexes also traded higher, with Germany’s benchmark leading… Continue reading European stocks jump as Trump brokers Iran-Israel ceasefire

KUALA LUMPUR: Malaysia registered an inflation rate of 1.2 per cent in May 2025, the lowest in 51 months, with the Consumer Price Index (CPI) at 134.4 versus 132.8 a year ago, according to the Statistics Department Malaysia (DOSM). In a statement today, it said Malaysia’s slower inflation trend as an open economy was in… Continue reading Malaysia’s inflation eases to 1.2% in May, marking lowest rate in 51 months

KUALA LUMPUR: Malaysia’s leading index (LI) maintained its positive annual growth at a rate of 0.5 per cent, registering 113.6 points in April 2025 versus 113.0 points in April 2024, according to the Department of Statistics Malaysia (DOSM). The LI is used to provide an early indication of turning points in the business cycle and… Continue reading Malaysia’s leading index rises 0.5% in April 2025

KUALA LUMPUR: The government has approved new venture capital (VC) tax incentives to include a five per cent concessionary tax rate for up to 10 years for eligible fund entities investing at least 20 per cent in local startups, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said the new VC tax incentive… Continue reading Malaysia approves VC tax incentives to boost startup investments