Category: Business

KUALA LUMPUR: Johor Corporation (JCorp) and its group of companies announced consolidated financial results for the financial year ended Dec 31, 2024 (FY24), recording revenue of RM6.96 billion, a 12% increase from RM6.2 billion in FY23. In a statement yesterday, JCorp said the performance reflects continued momentum under the JCorp 3.0 Reinvention Plan, which is… Continue reading Johor Corp posts strong revenue, earnings growth

KUALA LUMPUR: Supratechnic (M) Sdn Bhd, a wholly-owned indirect subsidiary of Singapore mainboard-listed USP Group Ltd, and Malaysia’s distributor of marine engines, hardware, and related maritime services, signed an exclusive distribution agreement with Hangzhou Hidea Power Machinery Co Ltd, China’s leading outboard motor manufacturer. Effective July 1, 2025, the agreement grants Supratechnic sole distribution rights… Continue reading Supratechnic appointed as exclusive distributor for Hidea outboard motors in Malaysia, Singapore

Avangaad has consistently demonstrated its operational excellence and reliability in managing and operating critical marine assets for Northport. KUALA LUMPUR: Avangaad Bhd, a Bursa Malaysia main market-listed marine transportation and offshore storage specialist, and Libra Perfex Precision Sdn Bhd secured a new contract from Northport (Malaysia) Bhd for RM66.8 million. Extending beyond its stable tenure-based… Continue reading Avangaad locks in RM66.8m in port services portfolio with Northport

DEL MONTE FOODS kicked off efforts to pursue a sale as it filed for Chapter 11 bankruptcy proceedings in the United States on Tuesday under an agreement with certain key lenders, the company said in a statement. The company has secured $912.5 million in financing to support itself through the proceedings, it said, adding that… Continue reading Del Monte Foods files for US bankruptcy, seeks buyer amid restructuring

KUALA LUMPUR: The ringgit strengthened against the US dollar in early trading on Wednesday, benefiting from ongoing weakness in the greenback due to fiscal uncertainties and tariff risks in the United States. At 8 am, the local currency traded at 4.1870/2065 against the US dollar, up from Tuesday’s close of 4.1995/2005. The US Dollar Index… Continue reading Ringgit gains as US dollar weakens amid fiscal concerns

KUALA LUMPUR: India is keen to deepen its already robust business linkages with Malaysia in the fast-growing semiconductor industry and digital economy. India’s High Commissioner to Malaysia, B N Reddy, said Malaysia has long been recognised as a leader in the semiconductor sector. Besides this, Malaysia had expressed keen interest in partnering with India in… Continue reading India seeks stronger semiconductor and digital economy ties with Malaysia

TESLA’S sales rose in Norway and Spain during June, an early sign that some are buying its revamped Model Y vehicle even as the EV maker struggles with the fallout from CEO Elon Musk’s politics and competition from European and Chinese brands. Tesla sales also rose in Portugal, though it was not immediately clear from… Continue reading Tesla Model Y boosts sales in Norway and Spain amid European challenges

SHANGHAI: China’s Xiaomi is telling customers of its new YU7 electric sports utility vehicle they will have to wait more than a year to receive their cars, sparking a fresh wave of complaints against the company. The smartphone turned EV maker said it received roughly 240,000 orders for the YU7 in the first 18 hours… Continue reading Xiaomi’s YU7 buyers hit by delivery delays

TOKYO: Factory activity in many Asian economies shrank in June as US tariff uncertainty kept demand low, but signs of modest relief for manufacturers raise the stakes in trade talks with Washington amid the region’s gloomy economic recovery prospects. The underlying softness in private surveys released yesterday highlights the challenges facing policymakers as they try… Continue reading Asian factories hobbled by US tariffs uncertainty

PETALING JAYA: Tenable, the exposure management company, revealed in its 2025 Cloud Security Risk Report released yesterday that cloud workloads supporting artificial intelligence (AI) initiatives are more vulnerable than traditional workloads. The report found that 70% of AI workloads across AWS, Azure and GCP contain at least one unremediated critical vulnerability, posing increased security risks… Continue reading AI use sparks new security fears: Tenable

KUALA LUMPUR: The government is considering introducing legislation to regulate risks and dangers associated with artificial intelligence (AI) in the country, Digital Minister Gobind Singh Deo said. The Digital Ministry is preparing a report for the Cabinet to review and decide whether a legal act is necessary to control AI abuse, he said, adding that… Continue reading Government considering introducing law to regulate AI issues: Gobind

KUALA LUMPUR: Malaysia is on the right track in cybersecurity as the government is introducing new policies and frameworks, said Zoho Corporation’s ManageEngine regional director, Asia Pacific, Arun Kumar. Arun said Malaysia’s cybersecurity is keeping pace with the rapid growth of its digital economy. “There is a cybersecurity law in Malaysia about securing critical infrastructure,… Continue reading Malaysia’s cybersecurity on right track, keeping up with digital economy growth

KUALA LUMPUR: Government e-services provider Pertama Digital Bhd (PDB) expects to return to profitability after acquiring 80% stakes in two companies, D-Ron Singapore Pte Ltd (D-Ron SG) and D-Ron Malaysia Sdn Bhd (D-Ron MY) with a purchase agreement that includes RM32.4 million profit guarantee over two years. Pertama Digital Group CEO Lim Nasrul Halim said… Continue reading Pertama Digital confident of returning to profitability after acquisition of two companies

PETALING JAYA: Petroliam Nasional Bhd (Petronas), through Malaysia Petroleum Management (MPM), has inked a strategic partnership with Pangkalan Bekalan Kemaman Sdn Bhd, a subsidiary of Eastern Pacific Industrial Corporation Bhd (Epic), to strengthen the management of upstream materials and warehousing at the Kemaman Supply Base in Terengganu. The collaboration was formalised through a memorandum of… Continue reading Petronas, Epic ink MoU on centralised warehousing in Kemaman Supply Base

PETALING JAYA: Sapura Energy Bhd announced that Bursa Malaysia Securities has, through a letter dated June 30, 2025, approved the company’s proposed regularisation plan (PRP). This marks a significant milestone in Sapura Energy’s strategic efforts to restructure its debt, strengthen its financial position and exit its status as a company classified under Practice Note 17… Continue reading Sapura Energy’s regularisation plan to exit P17 status receives Bursa Malaysia approval

KUALA LUMPUR: The ringgit extended its upward trend at Tuesday’s open, buoyed by persistent weakness in the US dollar. At 8.01 am, the local currency strengthened to 4.1955/2160 against the greenback from Monday’s close of 4.2060/2130. The US Dollar Index (DXY) slipped further to 96.875 as investors awaited key economic data, with the 90-day pause… Continue reading Ringgit strengthens as US dollar weakens further in July

KUALA LUMPUR: Kumpulan Wang Persaraan (KWAP) recently signed a memorandum of understanding (MoU) with the Malaysia Forest Fund (MFF) aimed at advancing Malaysia’s sustainability agenda through forest-based solutions. This partnership marks a significant step towards supporting Malaysia’s transition to a net-zero economy and reinforces KWAP’s commitment to achieve Net Zero Portfolio by 2050, a key… Continue reading KWAP and Malaysia Forest Fund ink MoU

TODAY is set to be a crucial date in the Malaysian tax scene. To facilitate compliance, here is a recap of the changes that take will take effect. • Businesses with annual turnover of RM25 million to RM100 million are required to be in full compliance with e-invoicing requirements. Until June 30, 2025, businesses of… Continue reading Taxing day for businesses

KUALA LUMPUR: Meat processor and distributor MyAxis Group Bhd plans to invest RM11.3 million in capital expenditure (capex) to expand its processing capacities following its LEAP Market debut. MyAxis intends to double its poultry capacity to 708,000 kg from 336,000 kg and triple red meat handling to 1.87 million kg from 624,000 kg. “The investment… Continue reading MyAxis Group makes strong debut on LEAP Market, plans RM11.3m capex to expand processing capacity

KUALA LUMPUR: The Malaysian Retail Chain Association (MRCA) is targeting RM120 million in transaction value for 8th Franchise Expo Malaysia 2025 (FEM 2025), up 20% from the RM100 million achieved in 2024. MRCA president Datuk Ken Phua said the higher target is driven by record-high international participation and strong local demand. “We have added 10… Continue reading MRCA targets RM120m transaction value from Franchise Expo Malaysia 2025

PETALING JAYA: Malaysia has taken a major leap forward in its ambition to become Southeast Asia’s leading electric vehicle (EV) with the official launch of INV New Material Technology Sdn Bhd’s cutting-edge lithium-ion battery separator facility at Penang Technology Park@Bertam, Kepala Batas. The RM3.2 billion investment establishes Malaysia’s first commercial facility of its kind, positioning… Continue reading INV New Material Technology’s launch of Penang facility big boost for Malaysia’s regional EV hub ambitions

CYBERJAYA: Dagang NeXchange Bhd (DNeX) has signed a memorandum of understanding (MoU) with Sinohydro Corporation (M) Sdn Bhd (SCSB) to explore and develop key initiatives across Malaysia’s growing renewable energy sector. SCSB is a wholly owned subsidiary of China-based Sinohydro Corporation Ltd, which is a wholly owned subsidiary of Power Construction Corporation of China Ltd… Continue reading DNeX, PowerChina’s subsidiary inked landmark agreement to advance renewable energy in Malaysia

KUALA LUMPUR: The ringgit continued its upward momentum against the US dollar at the opening today, supported by a weaker US Dollar Index (DXY) and growing concerns over US fiscal policies. At 8.01 am, the local currency rose to 4.2190/2365 against the greenback, up from Thursday’s close of 4.2300/2355. The DXY slipped 0.26 per cent… Continue reading Ringgit strengthens against US dollar amid US fiscal concerns

OVERPAYING your taxes will not earn any brownie points with the!! tax authorities. Paying extra taxes adds to the authorities’ burden to monitor the overpayments as there have been cases where the refund mechanism was abused by taxpayers. Since the officials will be held accountable for any errors, there is a tendency for them to… Continue reading Tax Matters – Corporates, do not overpay your taxes

TRINITY Group founder and managing director Datuk Neoh Soo Keat shares his views and thoughts with SunBiz. How has your life experience made you the leader you are today? My leadership journey began with humble roots and hard lessons. At just 11, I was helping my family make ends meet by selling vegetables at the… Continue reading Success: The Insight Story – Have a clear vision, and the passion to chase it

KUALA LUMPUR: Malaysia’s robust healthcare market growth, thriving medical tourism industry, strategic regional position, supportive government policies and ongoing improvements in healthcare infrastructure make it an ideal location to host International Healthcare Week 2025 (IWH 2025), which will take place from July 16 to 18. Informa Markets’ regional portfolio director for Asean, Rungphech Chitanuwat, said… Continue reading Hosting IHW 2025 solidifies Malaysia’s status as premier healthcare hub in Asean

KUALA LUMPUR: As Malaysia advances in its digital evolution, artificial intelligence-driven cities are taking centre stage – serving as dynamic hubs to attract investment, foster groundbreaking innovation and create equitable economic opportunities for all. Malaysia Digital Economy Corporation (MDEC) CEO Anuar Fariz Fadzil shared the agency’s blueprint for transforming Malaysia from a regional technology hub… Continue reading MDEC: AI Cities will be cornerstone of Malaysia’s digital future

MALAYSIA is racing toward a digital future – one powered by a booming data centre industry projected to consume over 20 GW of electricity by 2040, as forecast by the Ministry of Energy Transition and Water Transformation (Petra). This explosive growth is unlocking vast economic potential but also highlighting the way that Malaysia must balance… Continue reading Balancing innovation and responsibility

MALAYSIA’S move to sign the Free Trade Agreement (MGFTA) negotiations with the Gulf Cooperation Council (GCC) marks a pivotal step in expanding its economic reach beyond traditional partners. With GCC members – including Saudi Arabia, the UAE, Qatar, and others representing a collective GDP of over US$2 trillion (RM8.5 trillion), this agreement lays the groundwork… Continue reading GCC free trade talks signal strategic economic realignment

KUALA LUMPUR: Malaysia could attract renewed capital inflows into its bond and equity markets, underpinned by a stronger ringgit and a possible shift in US monetary policy. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the appreciating ringgit enhances Malaysia’s import purchasing power and may boost foreign interest… Continue reading Stronger ringgit, Fed shift could draw capital to Malaysia: Investment research expert

PETALING JAYA: The Selangor state government has officially launched the Sekinchan Integrated Landing Port project, a landmark coastal infrastructure development that will anchor Sabak Bernam’s transformation into a hub for seafood production, maritime services and sustainable tourism. The port forms a flagship component of the Sabak Bernam Development Area (Sabda), a key regional initiative under… Continue reading Sekinchan landing port project launched, set to transform Sabak Bernam into fishery, tourism hub

KUALA LUMPUR: The United Kingdom’s new High Commissioner to Malaysia, Ajay Sharma, has made strengthening bilateral cooperation a key priority, with a particular focus on the fast-growing semiconductor sector and the development of integrated chip design and advanced manufacturing. He said the British government is keen to strengthen linkages and exchange ideas to increase the… Continue reading UK’s new envoy to Malaysia to prioritise cooperation in semiconductor sector

PETALING JAYA: AirAsia Malaysia’s new Kuala Lumpur–Darwin service took off in a robust debut on Friday, achieving close to 90% passenger load and underscoring the airline’s dedication to driving tourism growth in Australia’s Northern Territory and reaffirming Malaysia’s appeal as a top destination in the lead-up to Visit Malaysia 2026. The launch of this new… Continue reading AirAsia Malaysia arrives in Northern Territory with KL-Darwin service

CALIFORNIA: Nvidia insiders sold more than $1 billion (RM4.22 billlion) worth of company stock in the past year, with a significant portion occurring this month as the chipmaker’s shares soared to record highs, the Financial Times reported. Over $500 million of these sales took place in June alone, coinciding with Nvidia’s stock surge driven by… Continue reading Nvidia insiders sell $1 billion in stock amid AI-driven market surge