Category: Business

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

KUALA LUMPUR: The Malaysian Industry-Government Group for High Technology (MIGHT), under the Ministry of Science, Technology and Innovation, has launched two innovation centres to drive local technology development in the rail and smart city sectors. The launch of the Industrial Technology Innovation Centre (Itic) and the Smart City Experience and Next Generation Innovation Centre (Scenic)… Continue reading MIGHT rolls out two innovation centres to drive local tech in rail and smart city sectors

PETALING JAYA: Integrated healthcare provider IHH Healthcare Bhd has launched a transformative S$5 million (RM16.5 million) Research Grant and Innovation Sandbox Programme to accelerate clinical research and innovation across its global network. Disbursed over five years, the fund empowers IHH clinicians and employees to pursue impactful clinical research and pilot innovative ideas from the ground… Continue reading IHH Healthcare launches S$5m programme to spur clinical research, innovation in global network

PETALING JAYA: Unique Fire Holdings Bhd, a fire protection systems and safety equipment provider, has transferred its listing to the Main Market of Bursa Malaysia Securities. The company’s transition from Bursa Malaysia’s ACE Market to the Main Market on Thursday comes less than three years after its initial public offering (IPO) in August 2022. Executive… Continue reading Transfer of listing to Main Market a step forward for Unique Fire

BENGALURU: Nike said it would cut its reliance on production in China for the US market to mitigate the impact from US tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue, sending its shares up 11% in extended trading. US President Donald Trump’s sweeping tariffs on imports from key trading partners could add… Continue reading Nike to cut China output for US market to ease tariff blow

LOS ANGELES: Tesla executive and longtime Elon Musk confidant Omead Afshar has left the electric-vehicle maker, three people familiar with the matter said on Thursday, another senior departure as the company grapples with slowing global demand. Afshar was part of the CEO’s office and since last year had overseen sales and manufacturing in Europe and… Continue reading Top Tesla exec and Musk confidant leaves company

BEIJING: China confirmed yesterday details of a trade deal with the US, saying Washington would lift “restrictive measures” while Beijing will “review and approve” items under export controls. “It is hoped that the US and China will meet each other halfway,“ a spokesman for the commerce ministry said in a statement. The White House on… Continue reading China confirms trade deal reached with US

BENGALURU: The Indian economy will grow at a mostly steady pace this fiscal year and next after marking a four-year low in 2024-25, according to economists polled by Reuters, who have mostly either kept their forecasts unchanged or made marginal upgrades. That stable outlook comes despite the Reserve Bank of India (RBI) cutting interest rates… Continue reading Poll: India set for top growth, but weaknesses linger

KUALA LUMPUR: Bursa Malaysia main market-listed Yong Tai Bhd has entered into a conditional share sale agreement to acquire the entire equity stake in Sabah-based Sumberjaya Builders Sdn Bhd for RM15 million. This strategic acquisition marks Yong Tai’s entry into Sabah’s property market with a steady growth outlook, further diversifying the group’s earnings stream and… Continue reading Yong Tai acquires Sabah-based Sumberjaya Builders for RM15m, targets quick turnaround on development projects