Business – Page 2 – Thesundailymys

13MP to boost high-value economic sectors and banking growth

KUALA LUMPUR: Alliance Bank Malaysia Bhd expects the upcoming 13th Malaysia Plan (13MP) to strengthen national efforts in developing high-value economic sectors, creating a supportive environment for banking sector expansion. Group chief executive officer Kellee Kam stated that the 13MP would likely build on recent progress, particularly in energy transition, infrastructure, and high-technology industries. “We… Continue reading

13MP to boost high-value economic sectors and banking growth

KAB announces shareholding change, reaffirms strategic focus

KUALA LUMPUR: Kinergy Advancement Bhd (KAB), a leading Malaysian provider of sustainable energy and engineering solutions, has announced the cessation of Kington Tong Kum Loong as a substantial shareholder following his disposal of 25,037,543 ordinary shares via a direct business transaction. According to a filing with Bursa Malaysia, the change was officially notified on July… Continue reading

Malaysia’s structural reforms key to economic resilience says BNM governor

KUALA LUMPUR: Malaysia’s ongoing structural reforms to ensure long-term resilience are critical to defend the economy against global shocks, Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour said during an exclusive interview with Bernama. He said Malaysia’s foresight enabled the country to weather these shocks, such as the ravaging COVID-19 pandemic five years… Continue reading

Malaysia’s structural reforms key to economic resilience says BNM governor

RM11.3b in manufacturing now operational – Zafrul

KUALA LUMPUR: A total of 11 manufacturing projects worth RM11.3 billion have been approved and have begun operations nationwide under the MADANI government’s leadership. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the companies were part of a broader wave of investments, with more projects still under construction. “This is only… Continue reading

RM11.3b in manufacturing now operational – Zafrul

Bursa Malaysia opens lower ahead of Fed rate cut decision

KUALA LUMPUR: Bursa Malaysia opened lower on Wednesday, tracking losses from overnight Wall Street performance as profit-taking emerged ahead of the United States (US) Federal Reserve (Fed) interest rate cut decision later today. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.43 points, or 0.12 per cent, to 1,521.39 from Tuesday’s close… Continue reading

Bursa Malaysia opens lower ahead of Fed rate cut decision

Ringgit steady vs US dollar ahead of FOMC meeting

KUALA LUMPUR: The ringgit was little changed against the US dollar on Wednesday morning as traders adopted a wait-and-see approach ahead of the Federal Open Market Committee (FOMC) meeting, which will be unfolding tonight, said an analyst. At 8 am, the local note was slightly higher at 4.2300/2400 against the greenback from Tuesday’s close of… Continue reading

Ringgit steady vs US dollar ahead of FOMC meeting

IMF raises Malaysia’s GDP growth forecast to 4.5% in 2025

KUALA LUMPUR: The International Monetary Fund (IMF) has raised its forecast for Malaysia’s real gross domestic product (GDP) growth to 4.5 per cent in 2025 and 4.0 per cent in 2026. In its July 2025 World Economic Outlook (WEO) update released today, titled ‘Global Economy: Tenuous Resilience amid Persistent Uncertainty’, the IMF said the forecast… Continue reading

IMF raises Malaysia’s GDP growth forecast to 4.5% in 2025

Keeping deliveries fresh without melting margins

THE cold chain logistics industry is no longer a niche vertical; it is a backbone of modern supply chains. In Malaysia, the market was valued at RM2.5 billion in 2023, reflecting the country’s growing reliance on temperature-controlled logistics. Beyond urban centres, cold chain logistics plays a vital role in transporting temperature-sensitive items, such as food,… Continue reading

Coherent opens new research facility

PETALING JAYA: Coherent Corp, a global leader in photonics, opened its new Datacom Research and Development Centre in Gelugor, Penang, yesterday, underscoring the company’s strategic commitment to serving its rapidly growing global markets. Situated at Menara IJM Land, the Penang R&D Centre joins the company’s expanding network in Malaysia, complementing its larger manufacturing sites in… Continue reading

melt

Keeping deliveries fresh without melting margins THE cold chain logistics industry is no longer a niche vertical; it is a backbone of modern supply chains. In Malaysia, the market was valued at RM2.5 billion in 2023, reflecting the country’s growing reliance on temperature-controlled logistics. Beyond urban centres, cold chain logistics plays a vital role in… Continue reading

Report reveals growing ‘hacktivism’ in Malaysia

PETALING JAYA: Ensign InfoSecurity (Ensign), Asia’s largest pure-play cybersecurity services provider, released its sixth Cyber Threat Landscape Report (CTLR), revealing a thriving underground cyberthreat economy and growing supply chain vulnerabilities across Asia-Pacific. In Malaysia, the report observed a rise in hacktivist activity, with these ideologically motivated threat actors growing in scale and sophistication within a… Continue reading

Ramssol forges landmark AI, cloud computing collaboration with Tencent, Equinix

PETALING JAYA: Malaysia is set to accelerate its digital transformation by tapping Chinese expertise in artificial intelligence (AI) and cloud computing, following a landmark collaboration spearheaded by Ramssol Group Bhd with Tencent Cloud and supported by Equinix. The Malaysia-China Tech & Trade Cooperation Exchange Conference 2025, held in Sheraton Petaling Jaya today, underscored the nation’s… Continue reading

inDrive pledges to rebuild trust and strengthen Malaysia operations

KUALA LUMPUR: Ride hailing firm inDrive aims to rebuild trust and strengthen its Malaysia operations following compliance breaches involving driver permit requirements. Macroregional director for Asia-Pacific Mark Tolley admitted that inDrive made errors which led to regulatory scrutiny but has improved its internal systems and is committed to implementing stronger safety and compliance measures. “Where… Continue reading

Investments crucial in advancing Asean sustainability agenda: SC chairman

KUALA LUMPUR: Investments are crucial in accelerating Asean’s sustainability journey, particularly in the development of green industries such as renewable energy, clean technology, and regional carbon markets. To achieve carbon neutrality by 2050, the region will require an estimated US$3.7 trillion to US$6.7 trillion (RM15.6 trillion to RM28.3 trillion) in green investments. Securities Commission Malaysia… Continue reading

Malaysia’s total trade reaches record high RM2.9 trillion in 2024

PETALING JAYA: Malaysia’s trade performance in 2024 showed strong momentum, reflecting the country’s adaptability and resilience as a trading nation, according to Department of Statistics, Malaysia. Total trade rose by RM242.3 billion or 9.2% year-on-year (y-o-y) to a record high of RM2.9 trillion in tandem with increases in exports (5.8%) and imports (13.1%). Chief Statistician… Continue reading

Vape players reject ban, call it flawed

KUALA LUMPUR: A coalition of vape associations has strongly opposed the government’s move to ban vape sales, warning that such a move would harm adult consumers and drive them toward the unregulated black market. They also argue that prohibition is not a practical solution to misuse and would instead worsen the situation by encouraging the… Continue reading

Bursa Malaysia confident securities trading will pick up in second half of 2025

KUALA LUMPUR: Bursa Malaysia Bhd is optimistic that securities trading activity will improve in the second half of 2025 on the back of strong domestic liquidity and improved sentiment. CEO Datuk Fad’l Mohamed said Malaysia has “very strong domestic liquidity”, with asset managers currently holding substantial cash positions. “So they will want to deploy that… Continue reading

Oxford Innotech to boost capacity, deepen presence in modular building systems and semiconductors

KUALA LUMPUR: Oxford Innotech Bhd (OXB) plans to more than double its production capacity by 2027 and deepen its presence in modular building systems and semiconductors, betting on accelerating demand from 5G, Internet of Things and artificial intelligence (AI) industries following its debut on Bursa Malaysia’s ACE Market today. Managing director Ng Thean Gin said… Continue reading

Philips cuts tariff impact by 100 million euros after US-EU deal

AMSTERDAM: Dutch healthcare giant Philips has lowered its estimated financial impact from U.S. import tariffs by 100 million euros following a trade agreement between the U.S. and the European Union. The company now expects tariffs to cost between 150-200 million euros this year, down from its earlier forecast of 250-300 million euros. Philips CEO Roy… Continue reading

Malaysia’s GFCF surges 12% to RM352.3 bln in 2024, led by services

KUALA LUMPUR: Malaysia’s Gross Fixed Capital Formation (GFCF) recorded double-digit growth of 12.0 per cent to RM352.3 billion in 2024, compared with RM314.5 billion in 2023, driven by strong foreign direct investment inflows and sustained domestic investment growth. The Department of Statistics Malaysia (DOSM), chief statistician Datuk Seri Dr Mohd Uzir Mahidin, said all sectors… Continue reading

Malaysia’s GFCF surges 12% to RM352.3 bln in 2024, led by services

Malaysia consumer spending outlook positive for 2025-2026, says BMI

KUALA LUMPUR: BMI, a Fitch solutions company, has maintained its broadly positive outlook for consumer spending in Malaysia over 2025, with the country’s healthy macroeconomic outlook driving real-term growth in household incomes. With inflation averaging lower than expected in May, BMI lowered its forecast for headline inflation to average at 1.9 per cent year-on-year (y-o-y)… Continue reading

Malaysia consumer spending outlook positive for 2025-2026, says BMI

Gold prices steady near 3-week low as trade tensions ease

GOLD prices remained steady on Tuesday, hovering close to a three-week low as reduced concerns over global trade conflicts and a firmer US dollar weakened demand for the safe-haven metal. Spot gold was unchanged at $3,318.79 per ounce after hitting its lowest level since July 9 in the previous session. US gold futures saw a… Continue reading

Indonesia’s FDI falls 6.95% in Q2, steepest drop since 2020

JAKARTA: Foreign direct investment into Indonesia dropped 6.95% in the second quarter from a year earlier to 202.2 trillion rupiah ($12.3 billion), investment ministry data showed on Tuesday, marking the deepest contraction in five years. The data excludes investment in the financial and oil and gas sectors. The fall in FDI was biggest since a… Continue reading

Indonesia’s FDI falls 6.95% in Q2, steepest drop since 2020

Asia shares dip as tariffs weigh on EU and US growth

SYDNEY: Asia shares eased on Tuesday while the euro nursed its losses as investors pondered the downside of the U.S.-EU trade deal and the reality that punishing tariffs were here to stay, with unwelcome implications for growth and inflation. The initial relief over Europe’s 15% levy quickly soured when set against the 1% to 2%… Continue reading

Asia shares dip as tariffs weigh on EU and US growth

Gold prices steady near 3-week low as trade tensions ease

GOLD prices were little changed on Tuesday, hovering near a three-week low, as easing fears of a global tariff war and a stronger dollar dampened bullion’s safe-haven appeal. Spot gold held its ground at $3,318.79 per ounce, as of 0210 GMT. Bullion hit its lowest level since July 9 in the previous session. U.S. gold… Continue reading

Gold prices steady near 3-week low as trade tensions ease

Nvidia orders 300k H20 chips from TSMC amid strong China demand

BEIJING: Nvidia has placed orders for 300,000 H20 chips with Taiwan Semiconductor Manufacturing Co (TSMC) following strong demand from China, two sources familiar with the matter said. One source noted that the surge in demand led Nvidia to reconsider relying solely on existing stockpiles. The orders come after the Trump administration recently allowed Nvidia to… Continue reading

Nvidia orders 300k H20 chips from TSMC amid strong China demand

Copper prices dip amid US-China tariff negotiations

LONDON: Copper prices declined slightly on Tuesday as market participants remained cautious amid ongoing trade negotiations between the US and China, along with discussions on US-imposed copper tariffs. Three-month copper on the London Metal Exchange dropped 0.17% to $9,776.5 per metric ton, while Shanghai Futures Exchange copper contracts dipped 0.08% to 78,920 yuan ($10,994.25) per… Continue reading

Copper prices dip amid US-China tariff negotiations

Bursa Malaysia opens higher amid regional stability, selective buying

KUALA LUMPUR: Bursa Malaysia opened slightly higher on Tuesday, supported by mild bargain hunting as the Thailand-Cambodia truce helped ease regional political concerns. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.29 points, or 0.08 per cent, to 1,530.67 from Monday’s close of 1,529.38. The benchmark index had opened 0.20 of a… Continue reading

Bursa Malaysia opens higher amid regional stability, selective buying

Oil prices rise on EU trade deal and US-China tariff truce talks

SINGAPORE: Oil prices climbed on Tuesday as market sentiment improved following a US-EU trade agreement and discussions to extend the US-China tariff truce. Brent crude futures rose 24 cents, or 0.34%, to $70.28 a barrel, while US West Texas Intermediate crude increased 22 cents, or 0.33%, to $66.93. Both benchmarks had surged over 2% in… Continue reading

Oil prices rise on EU trade deal and US-China tariff truce talks

Ringgit gains as trade tensions ease, US-China talks in focus

KUALA LUMPUR: The ringgit opened higher on Tuesday against the US dollar and other major and regional currencies, supported by easing global trade tensions that lifted investor sentiment, an analyst said. At 8.01 am, the local note rose to 4.2140/2460 against the greenback from Monday’s close of 4.2275/2345. However, Bank Muamalat Malaysia Bhd chief economist… Continue reading

Ringgit gains as trade tensions ease, US-China talks in focus

Malaysia and Nepal forge new economic synergies

KUALA LUMPUR: The Malaysia-Nepal Business Council (MNBC) and the Federation of Nepal Cottage and Small Industries, Lalitpur Metropolitan City (FNCSI-LMC), signed a memorandum of understanding (MoU) in Kathmandu early this month, aimed at strengthening bilateral trade ties and revitalising small enterprise ecosystems. Setting the stage for a robust and forward-looking partnership, this collaboration underscores the… Continue reading

Proton sets up international arm to accelerate overseas sales

PETALING JAYA: Proton Holdings Bhd has established Proton International Corporation Sdn Bhd (PICSB), a wholly owned subsidiary formed to spearhead its overseas expansion efforts, with the objective to provide more flexibility when dealing with international markets. The CEO of the new company is Edmund Lim Meng Thong, who was formerly the director of Proton’s International… Continue reading

Bank Negara revises Malaysia’s 2025 GDP growth forecast to 4.0%-4.8%

KUALA LUMPUR: Bank Negara Malaysia (BNM) has revised Malaysia’s 2025 gross domestic product (GDP) growth projection to between 4.0% and 4.8% from 4.5%-5.5% previously. The projection takes into account various tariff scenarios, ranging from continued elevation of tariffs to more favourable trade negotiation outcomes. In a statement today, the central bank said the forecast remains… Continue reading

Heineken Malaysia picks up six awards for delivering positive impact in ESG, CSR

PETALING JAYA: Heineken Malaysia Bhd has once again raised the bar for corporate sustainability, taking home six accolades at The Star ESG Positive Impact Awards 2024 and the Sustainability & CSR Malaysia Awards 2025. In a statement today, the company said these awards reinforce the strength of its partnerships in driving meaningful environmental and social… Continue reading