Category: Business

PETALING JAYA: Johor-based property developer Paragon Globe Bhd is positioning itself for sustained growth in the industrial and residential sectors, supported by strategic projects and the state’s buoyant economic prospects, following a record-breaking financial performance in its recently concluded financial year. For the financial year ended March 31, 2025, Paragon Globe achieved a net profit… Continue reading Paragon Globe eyes strong growth from industrial, residential segments

AT FIRST glance, Malaysia’s residential property market may appear quiet, but beneath the surface, a meaningful transformation is under way: a fundamental shift in how Malaysians approach property ownership. Today’s buyers are intentional, value-focused, and sharply attuned to economic signals. The optimism of past years has given way to a more measured mindset shaped by… Continue reading Homebuyers redefine value amid shift in mindset

BEIJING: US tech giant Nvidia said yesterday it will resume sales of its H20 artificial intelligence chips to China, after Washington pledged to remove licensing curbs that had put a stop to exports. The California-based firm produces some of the world’s most advanced semiconductors but is not allowed to ship its most cutting-edge chips to… Continue reading Nvidia to resume H20 AI chip sales to China

MUMBAI: Tesla yesterday launched its Model Y at about US$70,000 (RM298,000) in India, the highest price among major markets, as the US automaker grappling with slowing sales bets on prospects in a country CEO Elon Musk has long criticised for its high import tariffs. With deliveries estimated to start from the third quarter, Tesla is… Continue reading Tesla rolls into India with costly Model Y due to high tariffs

TOKYO: Toyota and Hyundai Motor may have a beef with US protectionism, but they have one thing in common with President Donald Trump: when it comes to global car markets, it’s America first for Asia’s legacy automakers. Trump’s tariffs on imported automobiles have upended the outlook for the global industry, yet the US remains by… Continue reading Asia automakers still back US, tariffs or not

KUALA LUMPUR: Malaysia has jumped 11 places to 23rd in the IMD World Competitiveness Ranking 2025, marking its best performance since 2020. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the leap is attributed to significant improvements in economic performance, government efficiency and business efficiency, primarily driven by productivity reforms and… Continue reading Malaysia leaps 11 spots to 23rd in IMD world competitiveness list for 2025, best since 2020

KUALA LUMPUR: The Malaysian Micro Business Association (Mamba) is calling for a more balanced and constructive dialogue surrounding the recent adjustments to e-commerce platform fee structures. Secretary-general Alvin Low Wei Yan said that while the association understands the concerns raised by various stakeholders, Mamba believes the issue demands a holistic perspective—one that considers both the… Continue reading Mamba seeks balanced dialogue on e-commerce fees

PETALING JAYA: Malaysia has a longstanding policy that allows foreign participation in its strategic assets, Transport Minister Anthony Loke said. Citing MMC Corp Bhd’s divestment of its stake in MMC Ports Holdings Bhd to foreign entities, seen as a pragmatic approach to corporate restructuring and foreign investment in the transport sector, he said Malaysia has… Continue reading Malaysia remains open to foreign stake in strategic assets: Loke

KUALA LUMPUR: The trade permit imposed for US origin high-performance artificial intelligence (AI) chips reaffirms Malaysia’s commitment as a trusted hub for managing advanced technology exports, transshipments, and transits. In stating this, Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai said the measure sent a strong signal of Malaysia’s seriousness in complying… Continue reading MSIA: Miti move shows Malaysia’s seriousness in complying with international trade obligations

KUALA LUMPUR: Chin Hin Group Property Bhd (CHGP), a leading Malaysian property developer, today announced that its wholly-owned subsidiary, Chin Hin Property (Segambut) Sdn Bhd, signed a sale and purchase agreement with New York Empire Sdn Bhd and Kar Sin Bhd for the acquisition of a 6.49-acre parcel of freehold land located in Segambut, Kuala… Continue reading Chin Hin Group Property expands Klang Valley landbank with RM52m Segambut land acquisition

PETALING JAYA: Malaysian Rating Corporation Bhd (MARC Ratings) has assigned an unsolicited sub-sovereign credit rating of AAA, with a stable outlook, to Johor. The rating reflects the state’s resilient and growing economy, consistent fiscal surpluses, low debt levels, and a stable political landscape supporting its long-term development. MARC Ratings noted that Johor plays a key… Continue reading MARC Ratings: Triple ‘A” with stable outlook for Johor

CYBERJAYA: DXN Holdings Bhd, a global manufacturer of health-focused nutraceutical products, signed a memorandum of understanding (MoU) with Invest Kedah Bhd, the state’s principal investment promotion agency, to explore strategic initiatives in agroforestry, aquaculture, and eco-tourism. The five-year MoU also supports socio-economic and talent development aligned with Kedah’s long-term plans. The MoU was formalised during… Continue reading DXN Holdings landmark agreement paves way for investments, job creation in Kedah

KUALA LUMPUR: Selangor Dredging Bhd (SDB) has unveiled DaMai, a first-of-its-kind hilltop residence in Taman Melawati, offering a unique blend of luxury, cultural heritage and multigenerational living in a boutique, mid-rise development. Set on a 7.158-acre freehold site, DaMai features a single 17-storey block with 306 spacious units ranging from 2,056 to 5,038 square feet.… Continue reading SDB launches DaMai, redefining luxury multigenerational living in Melawati

KUALA LUMPUR: Bank Negara Malaysia’s recent overnight policy rate (OPR) cut is expected to improve lending conditions and strengthen buyer confidence in the property market, according to PropertyGuru and iProperty Malaysia country manager Kenneth Soh. He noted that while the rate adjustment is a positive step, changes in consumer behaviour and market dynamics usually take… Continue reading OPR cut boosts property buyer confidence in Malaysia

KUALA LUMPUR: The ringgit opened higher against the US dollar on Tuesday, in line with strengthening Chinese yuan supported by upbeat China’s June economic data release, said an analyst. At 8 am, the ringgit strengthened to 4.2445/2670 against the greenback, from Monday’s close of 4.2505/2560. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul… Continue reading Ringgit opens higher against US dollar on upbeat China data

KUALA LUMPUR: Keretapi Tanah Melayu Bhd (KTMB) is expected to gradually reduce its reliance on government funding as it improves operational efficiency, according to Transport Minister Anthony Loke. He said the government-linked company still depends heavily on government funding to sustain its daily operations. “There is indeed a shortfall in operational costs,“ he said at… Continue reading KTMB on track to reduce dependence on govt funding

PETALING JAYA: Baker Hughes, a global energy technology company, and Petroliam Nasional Bhd (Petronas) recently signed a memorandum of understanding (MoU) on a strategic partnership to explore initiatives that have the potential to support the delivery of Asia’s energy expansion and transition. The MoU serves as a foundation for collaboration between the two companies to… Continue reading Baker Hughes, Petronas collaborate to support Asia energy expansion, transition

KUALA LUMPUR: Westports Holdings Bhd could replace Sime Darby Bhd in the upcoming review of the FTSE Bursa Malaysia KLCI (FBM KLCI) as its market capitalisation (market cap) ranking has risen to 24th among eligible securities, surpassing the eligibility threshold of the 25th largest. The next FBM KLCI review outcome announcement is scheduled for Dec… Continue reading Westports could make it into FBM KLCI at next review: CIMB Securities

PETALING JAYA: Malaysians strongly support sustainably produced palm oil and place high trust in the Malaysian Sustainable Palm Oil (MSPO) certification scheme. A national survey commissioned by Dayak Transformation Association (Trada) showed that persistent misconceptions on palm oil and health should be addressed, particularly among younger Malaysians, who will shape the future of the industry.… Continue reading Malaysians show strong support for sustainable palm oil, MSPO: Trada survey

KUALA LUMPUR: Cleanroom and other facility services provider iCents Group Holdings Bhd recorded revenue of RM18.85 million for the third quarter (Q3) ended March 31, 2025, mainly derived from the other facility services, which contributed RM13.13 million or 69.68% to the group’s revenue. This was followed by cleanroom services, which contributed RM5.72 million or 30.32%… Continue reading iCents posts RM18.85m revenue in Q3 ahead of ACE Market listing

KUALA LUMPUR: Malayan Banking Bhd (Maybank) is granting a sustainability-linked loan (SLL) amounting to US$150 million (RM638 million) to Austria Technologie & Systemtechnik Malaysia Sdn Bhd (AT&S). In a statement yesterday, the bank said the landmark transaction marks the first SLL issued by a Malaysian and Southeast Asian commercial bank to AT&S, and the first… Continue reading Maybank grants US$150m green loan to Austria’s AT&S

IT IS common in many industries such as the oil and gas industry or industries that require government licensing where there are strict ownership requirements before companies can bid for government contracts to have nominee shareholder director arrangements without the necessary disclosure of the beneficial owners. Usually, the undisclosed beneficial owner will have side agreements… Continue reading Tax Matters – Risks around shadow ownership through nominee arrangements

SHAH ALAM: Blueshark Ecosystem Sdn Bhd, in partnership with Petronas Dagangan Bhd, aims to expand its network of battery swap stations from 20 to more than 50 nationwide by the middle of next year, in a push to accelerate electric vehicle (EV) adoption in Malaysia. Each battery swap station costs about RM50,000, with expenses shared… Continue reading Blueshark aims to have over 50 battery swapping stations nationwide by mid-2026 in tie-up with Petronas

PETALING JAYA: With the United States still investigating whether to impose tariffs on semiconductors under Section 232 of the Trade Expansion Act of 1962, Malaysia is urged to bolster its semiconductor ecosystem to shield itself from any potential demand shocks. Although no tariffs have been formally introduced, the Malaysia Semiconductor Industry Association (MSIA) warned that… Continue reading Malaysia urged to bolster semiconductor ecosystem to shield itself from potential demand shocks

PETALING JAYA: Diversified energy conglomerate Meta Bright Group Bhd’s wholly owned subsidiary Meta Bright Energy Sdn Bhd has formalised a joint venture (JV) with ChargeHere EV Solution Sdn Bhd, a leading electric vehicle (EV) charging point operator in Malaysia. The JV aims to expand the group’s footprint in Malaysia’s rapidly growing EV charging infrastructure market.… Continue reading Meta Bright, ChargeHere formalise EV charging joint venture

KUALA LUMPUR: Malaysia’s brisk ringgit-denominated transactions will continue to entrench the local currency as among the top 20 currencies globally, a top wealth management company official said. SPI Asset Management managing partner Stephen Innes said demand for transactions in ringgit would be driven by Malaysia’s strong trading linkages, especially with China, Singapore and other Southeast… Continue reading Brisk ringgit-denominated transactions will ensure Malaysian currency maintains high global standing: Expert

KUALA LUMPUR: The ringgit is expected to remain volatile next week, moving in the range between 4.24 and 4.26 against the US dollar, an analyst said. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that apart from the United States (US) tariff, the next key question is whether the Federal… Continue reading Ringgit forecast to trade between 4.24-4.26 vs US dollar next week

KUALA LUMPUR: Trade setbacks due to US tariffs and geopolitical tensions in the Middle East will have a limited impact on peer-to-peer (P2P) platform Funding Societies’ small and medium enterprise (SME) borrowers’ operational cash flow and creditworthiness, as most of them are domestically focused. Group chief financial officer Junxiong Ho said that in the short… Continue reading Little impact from global uncertainties in short term: Funding Societies

KUALA LUMPUR: Malaysia’s manufacturing sector sales value rose 2.4% year-on-year (y-o-y) to RM158.7 billion in May compared with a 4.7% y-o-y growth in April, said the Department of Statistics Malaysia (DOSM). Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the May sales value growth was mainly contributed by the food, beverages and tobacco sub-sector,… Continue reading Manufacturing sector sales value touches RM158.7 billion in May

PETALING JAYA: Malaysian Rating Corporation Bhd (MARC Ratings) forecasts the Malaysian economy to grow by 4.4% in 2025, down from 5.1% in 2024, as external trade uncertainties dampen export momentum. Nonetheless, domestic demand remains resilient, driven by labour market improvements, accommodative policy settings, and tourism recovery. The rating agency also noted that the global economic… Continue reading MARC Ratings projects Malaysia’s 2025 GDP growth at 4.4%

KUALA LUMPUR: Meta Bright Group Bhd, a main market-listed diversified energy conglomerate, announced that its wholly-owned subsidiary, Meta Bright Energy Sdn Bhd, has formalised a strategic joint venture (JV) with ChargeHere EV Solution Sdn Bhd, a leading electric vehicle (EV) charging point operator (CPO) in Malaysia. This JV aims to significantly expand the group’s footprint… Continue reading Meta Bright forms JV with ChargeHere to accelerate EV charging expansion across Malaysia

NEW YORK: Bitcoin rallied to an all-time high yesterday, powered by demand from institutional investors and crypto-friendly policies from US President Donald Trump’s administration. The world’s largest cryptocurrency rose to a peak of US$116,781.10 (RM495,883) in the Asian session yesterday, taking its gains for the year so far to more than 24%. It was last… Continue reading Bitcoin hits record high on rising institutional demand

LANGFANG: Electric-powered heavy trucks are rapidly gaining market share in China, driven by subsidies and the quick rollout of chargers, further curbing diesel usage and denting oil demand from the world’s biggest crude importer. The boom in electric truck sales in China follows that of electric cars and the rise in recent years of LNG-powered… Continue reading Surging electric truck sales hit diesel use in China

WASHINGTON: US President Donald Trump ramped up his tariff assault on Canada on Thursday, saying the US would impose a 35% tariff on imports next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners. In a letter released on his social media platform, Trump told Canadian Prime Minister… Continue reading Trump hits Canada with 35% tariff, eyes 15-20% on others

KUALA LUMPUR: Cybersecurity services provider LGMS Bhd has proposed to acquire a 27% stake in Antares Holdings Sdn Bhd (AHSB) for RM22.68 million. In a Bursa Malaysia filing, LGMS said the stake acquisition in information technology company Antarex is a strategic investment, marking a significant milestone in the collaboration between LGMS and AHSB, aimed at… Continue reading LGMS to acquire 27% stake in Antarex for RM22.68m

PENANG: Domestic premier cruise agency Hwajing Travel & Tours Sdn Bhd has signed a strategic partnership with Astro Ocean Cruise to bring the M/V Piano Land, operated by Astro Ocean Cruise, a Chinese cruise line, to Malaysia. This is a significant step by Hwajing Travel to establish Malaysia as a leading regional cruise hub. The… Continue reading Hwajing Travel & Tours inks strategic partnership with Chinese cruise vessel M/V Piano Land

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar on Friday, supported by a slightly firmer US Dollar Index (DXY) and mixed signals from the US Federal Reserve (US Fed). At 8 am, the local note eased to 4.2440/2640 against the greenback from Thursday’s close of 4.2410/2505. The US DXY edged up by… Continue reading Ringgit opens slightly lower vs US dollar, mixed Fed signals

MOSCOW: The price of bitcoin has soared past US$116,000 for the first time, setting a new milestone in cryptocurrency history. Trading data from Binance shows bitcoin (BTC) breaking the US$116,000 mark, reaching 116,322.71875 USDT with a 4.69 per cent increase within 24 hours. Bitmex, another major cryptocurrency exchange, recorded an even higher peak as bitcoin… Continue reading Bitcoin price surges past US$116,000 for first time in history

PETALING JAYA: Malaysia Digital Economy Corporation (MDEC) on Wednesday launched its MD Business Digitalisation Initiative (BDI) in Sarawak – marking its first rollout in East Malaysia – to accelerate inclusive digital growth by equipping micro, small, and medium enterprises with innovative tools to boost productivity, streamline operations, and future-proof their businesses. The event in Kuching… Continue reading MDEC launches MD Business Digitalisation Initiative in Sarawak