Category: Business

KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) subsidiary, Petronas LNG Ltd, has entered into a liquefied natural gas (LNG) sale and purchase agreement with Commonwealth LNG, LLC, to diversify its LNG portfolio through long-term supply from the United States. Petronas announced in a statement that it has agreed to purchase one million tonnes per annum (mtpa)… Continue reading Petronas, Commonwealth LNG ink 20-year sustainable LNG deal

Malaysia’s advancement from 34th place last year highlights the country’s robust economic recovery and ongoing reform initiatives, as noted by Miti. KUALA LUMPUR: Malaysia has climbed 11 positions in the 2025 World Competitiveness Ranking (WCR), securing the 23rd spot out of 69 economies—its highest placement since 2020. The WCR, released each year by the Institute… Continue reading Malaysia achieves significant improvement in global competitiveness, says WCR report

KUALA LUMPUR: Controlling inflation alone is insufficient to alleviate cost-of-living pressures, said Bank Negara Malaysia (BNM), highlighting the urgent need for structural reforms to address stagnant wage growth and ensure that incomes keep pace with rising prices. Deputy Governor Datuk Marzunisham Omar said that although headline inflation has eased significantly due to timely monetary policy… Continue reading Wage reform can ease inflation, cost of living pressure – BNM

KUALA LUMPUR: Shell is reinforcing its sustainability efforts across its business operations as part of a broader strategy to remain competitive and resilient in a fast-changing global energy landscape. Vice-president for sustainability Karen Westley said the company is aligning environmental and social sustainability with its core values and risk framework, which is among the efforts… Continue reading Shell bolsters sustainability integration amid shifting global energy landscape

INDIA’S benchmark indexes are set for a muted open on Tuesday, as investors adopt a cautious stance following U.S. President Donald Trump’s call to evacuate Tehran amid escalating Israel-Iran tensions. The Gift Nifty futures were trading at 24,960 as of 8:02 a.m. IST, indicating that the Nifty 50 will open near Monday’s close of 24,946.5.… Continue reading India equity benchmarks set for muted open after Trump’s Tehran warning

TOKYO: Japan’s government bonds held steady in early trading on Tuesday, as investors looked ahead to a key central bank decision on debt purchase plans for the next fiscal year. The 10-year JGB yield was at 1.45%, unchanged from the previous session, after falling 1 basis point (bp) to 1.44% earlier in the session. The… Continue reading Japanese government bonds steady ahead of BOJ decision

NEW YORK: US stocks ended higher on Monday, recovering from Friday’s sharp losses as investors’ concerns over ongoing hostilities between Israel and Iran eased somehow, Xinhua reported. Escalation of conflicts between Iran and Israel had briefly rattled markets — oil prices surged, the Cboe Volatility Index (VIX) spiked, and gold prices rose as investors sought… Continue reading US stocks rebound as investors brush off Middle East tensions

AN unusual move by the Trump administration to give itself a golden share in U.S. Steel as part of a deal to approve Nippon Steel’s takeover of the well-known U.S. company could drive away foreign investors in U.S. companies, national security lawyers said on Monday. Commerce Secretary Howard Lutnick announced on Saturday, “President Trump has… Continue reading Golden share in US Steel could scare off foreign investors in US deals, lawyers say

KUALA LUMPUR: Bursa Malaysia opened marginally lower today on some mild selling activities, mainly among lower liners, despite Wall Street’s higher overnight performance. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.03 of-a-point to 1,519.96 from Monday’s close of 1,519.99. The benchmark index opened 1.17 points lower at 1,518.82. However, market breadth… Continue reading Bursa Malaysia opens marginally lower despite Wall Street’s higher overnight performance

KUALA LUMPUR: The ringgit opened flat against the US dollar on Tuesday as investors steered towards the sidelines amid cautious sentiment ahead of the two-day Federal Open Market Committee (FOMC) meeting beginning later today, said an analyst. At 8 am, the local note stood at 4.2360/2470 versus the greenback from yesterday’s close of 4.2370/2450. Bank… Continue reading Ringgit opens almost flat against US dollar on cautious sentiment

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has begun hedging 20%–30% of its oil price exposure to manage market volatility, said CFO Liza Mustapha. She said the hedging is a limited but useful insurance policy during the current fluctuations in oil prices. “It has proven to be quite useful over the last couple of months when… Continue reading Petronas hedging 20-30% of oil price exposure to manage market volatility

KUALA LUMPUR: Syariah-compliant financial solutions group Xanderia Services Sdn Bhd and human resource outsourcing solutions provider CXL Group have partnered to produce Kanz PaydayNow, a financial app that will redefine earned wage access in Malaysia. The app, a financial empowerment platform, is an innovative and secure solution that empowers employees with early wage access, providing… Continue reading Xanderia, CXL Group collaborate to launch app for early wage access

PETALING JAYA: Regional clean energy infrastructure developer Solarvest Holdings Bhd, through wholly owned subsidiary Atlantic Blue Sdn Bhd, has secured Brunei’s largest national solar project via a joint venture company, Seri Suria Power (B) Sdn Bhd, in partnership with Serikandi Oilfield Services Sdn Bhd and Khazanah Satu Sdn Bhd. Seri Suria Power will invest, build… Continue reading Solarvest clinches Brunei solar project in partnership with Serikandi and Khazanah Satu

PETALING JAYA: The Malaysia Retailers Association (MRA) has urged the Ministry of Finance (Mof) to waive the planned 8% Sales and Service Tax (SST) on commercial rental and leasing services, scheduled to take effect on July 1. Retail businesses across the country are already under immense pressure from a succession of cost increases, including but… Continue reading Malaysia Retailers Association seeks SST waiver on commercial rentals to protect businesses, consumers

KUALA LUMPUR: The Organisation of the Petroleum Exporting Countries (Opec) will continue to invest in fossil fuel production, despite the growing momentum behind sustainability initiatives and the global energy transition. Opec secretary-general Haitham Al Ghais said the organisation advocates a more balanced investment strategy to safeguard the stability of energy security and affordability. “Sometimes we… Continue reading Opec: will continue to invest in fossil fuel production amid growing energy transition momentum: Sec-gen

PETALING JAYA: The Malaysian Rubber Glove Manufacturers Association (Margma) is urging the government to defer and review the imposition of 5% Sales and Service Tax (SST) on natural rubber latex and nitrile butadiene rubber latex raw materials. In a statement today, Margma said the rubber glove industry is Malaysia’s largest export contributor to total rubber… Continue reading Margma urges govt to rethink imposition of 5% SST on rubber glove raw materials

KUALA LUMPUR: The escalating conflict near the Strait of Hormuz has triggered one of the most intense oil price rallies since 2022, said Petroliam Nasional Bhd (Petronas) CEO Tan Sri Tengku Muhammad Taufik. “In the past few days, the escalation of conflict around the Strait of Hormuz where 18 to 19 million barrels of oil… Continue reading Conflict escalation near Strait of Hormuz triggers one of most intense oil price rallies since 2022: Petronas

KUALA LUMPUR: Berjaya Land Bhd (BLand) is venturing into a RM170 million gross development value residential project in Greenland, an autonomous territory in Denmark, part of the company’s plan to expand internationally and bring its experience in building homes to new markets. Group CEO Syed Ali Shahul Hameed said BLand is preparing to submit the… Continue reading Berjaya Land partners Sweden’s SIBS to develop RM170m housing project in Nuuk, Greenland

HONG KONG: Oil prices extended gains Monday as Israel and Iran pounded each other with missiles for a fourth day and threatened further attacks, stoking fears of a lengthy conflict that could reignite inflation. Gold prices also rose back towards a record high thanks to a rush into safe havens, but while most equity markets… Continue reading Oil prices rise further as Israel-Iran extends into fourth day

KUALA LUMPUR: The ringgit opened higher against the United States (US) dollar and a basket of currencies, including ASEAN currencies today, amid cautious sentiment due to escalating geopolitical risks, said an analyst. At 8 am, the local note rose to 4.2365/2600 versus the greenback from Friday’s close of 4.2435/2480. Bank Muamalat Malaysia Bhd chief economist… Continue reading Ringgit opens higher against US dollar amid geopolitical tension

THERE are significant changes to sales tax and service tax. Some 3,400 items have been moved from the exempt category to 5% and 10% sales tax categories. Six new categories of services have been added to the service tax. Education, healthcare, and construction services will be subject to 6%, while financial services, rental/leasing, and wellness… Continue reading Tax Matters – Highlights of SST expansion affecting businesses

SHAH ALAM: Malaysia’s largest trans-Pacific logistics provider, KGW Group Bhd, is doubling down on the US market through a joint venture with China’s Mingkun International Logistics Ltd. This move aims to capitalise on the manufacturing shift into Malaysia as US tariffs impact Chinese exports. CEO Roger Wong said the joint venture entity is already set… Continue reading KGW Group doubles down on US market, forms logistics integration JV with China’s Mingkun

PETALING JAYA: The Federation of Malaysian Manufacturing (FMM) has expressed its strong objection to the impending tariff increase at Port Klang, which was approved by the Ministry of Transport (MoT) and officially gazetted on Friday. The association said these cost increases come at a time when industries are already under immense pressure from global trade… Continue reading FMM strongly objects to Port Klang’s tariff hike, warns of hit to export competitiveness

PETALING JAYA: The Asia-Pacific region stands at the heart of global aviation’s most dynamic growth, with airlines set to face both opportunities and complex challenges over the next two decades as they seek to connect rapidly expanding populations, serve new destinations and adapt to shifting market demands. According to Embraer’s Market Outlook for 2025, Asia-Pacific… Continue reading Embraer: Asia-Pacific to propel global aviation, aircraft demand growth

PETALING JAYA: Merchantrade Asia Sdn Bhd’s digital payroll solution surpassed RM3.6 billion in salary disbursements to foreign worker e-wallet accounts in 2024, highlighting the company’s continued leadership in digitising and transforming payroll processes while advancing financial inclusion for underserved communities. Maintaining this momentum, Merchantrade Asia is aiming to achieve an ambitious payroll volume target of… Continue reading Merchantrade Asia aiming for digital payroll disbursements of RM5 billion in 2025

PETALING JAYA: KJTS Group Bhd, through indirect subsidiary Green AI Sdn Bhd, signed a memorandum of understanding with China-based Shenzhen Envicool Technology Co Ltd, one of the world’s leading providers of advanced cooling technologies, to jointly pursue data centre infrastructure projects in Asean with a focus on innovative, energy-efficient cooling solutions. They will collaborate to… Continue reading KJTS, Shenzhen Envicool to jointly pursue data centre cooling deals in Asean

KUALA LUMPUR: Frozen food manufacturer Arisprop Capital Bhd is planning to introduce its Aris Burger brand to the Chinese market by 2027, as part of the company’s global expansion strategy. Its managing director, Datuk Haris Embong, said the company is currently focused on strengthening its domestic business foundations, including supply chain optimisation, product quality and… Continue reading Arisprop aims to bring Aris Burger to China by 2027

KUALA LUMPUR: The Export-Import Bank of Malaysia Bhd (Exim Bank) will focus on strengthening Central Asian ties through strategic engagements to benefit Malaysian businesses and regional partners. In a statement today, it said the initiative includes exploring structured financing solutions for key partners in Uzbekistan, notably a proposed collaboration with Joint-Stock Commercial Bank HamkorBank to… Continue reading Exim Bank Malaysia to strengthen strategic engagements in Central Asia

PETALING JAYA: Hong Leong Bank Bhd (HLB) has signed a memorandum of understanding (MoU) with DCAP Digital Sdn Bhd to enhance its SME lending solutions infrastructure and drive financial inclusion for underbanked communities in Malaysia. Through the collaboration, HLB aims to leverage DCAP Digital’s expertise in LaaS (Lending as a Service) solutions, particularly its proprietary… Continue reading Hong Leong Bank taps DCAP Digital expertise to enhance SME lending and drive financial inclusion

PETALING JAYA: Funding Societies Malaysia, Southeast Asia’s largest unified SME digital finance platform, has formalised a strategic partnership with the Centre for Entrepreneur Development and Research (Cedar), the training and capacity-building arm of SME Bank Malaysia Bhd. The collaboration was sealed through a participation agreement with a signing ceremony held recently, outlining a commitment to… Continue reading Funding Societies partners Cedar to mobilise up to RM50m financing to support SMEs