Leading countries in the Islamic finance space within the Asean region, such as Malaysia and Indonesia, should collaborate in the banking and takaful sectors, as bright prospects are seen for both Islamic finance and financial technology (fintech) in the region, said Bank Negara Malaysia (BNM) deputy governor Adnan Zaylani.

Malaysia, Indonesia should forge alliance to enhance Islamic finance, fintech growth in Asean — BNM

KUALA LUMPUR (April 19): The Malaysia External Trade Development Corporation (Matrade) will enhance cross-border e-commerce among small and medium enterprises by partnering Amazon in a programme that allows products to be sold internationally via Amazon’s e-stores.

Matrade, Amazon collaborate to enhance cross-border e-commerce among SMEs

SINGAPORE (April 15): Asia Pacific saw the largest y-o-y decline in financial technology (fintech) funding value compared to other regions in 1Q2024, falling 46% to US$1.85 billion (S$2.51 billion), according to data by S&P Global Market Intelligence.

Asia Pacific saw largest y-o-y decline in fintech funding in 1Q2024 — S&P Global

BENGALURU (April 9): India's Paytm said on Tuesday that Surinder Chawla had resigned as the chief executive officer and managing director of its banking unit Paytm Payments Bank "on account of personal reasons".

The company said the resignation would be effective from June 26 but did no...

India's Paytm banking unit CEO Surinder Chawla resigns

SINGAPORE (April 9): The Monetary Authority of Singapore (MAS) and global payments company Mastercard have signed a memorandum of understanding (MOU) to enhance cooperation in cyber security.

MAS to strengthen financial services’ cyber resilience with Mastercard MOU

TNG Digital Sdn Bhd will start imposing a 1% overseas transaction conversion fee for its cross-border QR payment feature in Touch 'n Go (TNG) eWallet, starting from April 25, which had been free of charge previously.

Touch 'n Go eWallet to charge 1% conversion fee for overseas transactions from April 25

KUALA LUMPUR (April 8): Grab-led digital bank GX Bank Bhd (GXBank) aims to provide financial facilities to the underserved market, expand the retail segment and address the needs of the micro, small and medium enterprises (MSMEs), said its chief executive officer Lai Pei-Si.

Grab-led digital bank GXBank to tap into underserved market, MSMEs

MBSB Bank Bhd is discontinuing its e-wallet platform, effective from May 31.

In a statement on Monday, the bank said the strategic decision is aligned with the bank’s ongoing efforts to optimise and streamline its digital offerings.

MBSB Bank discontinues e-wallet platform

The Monetary Authority of Singapore (MAS) has launched Cosmic, a centralised digital platform for the sharing of customer information among financial institutions to tackle money laundering, terrorism financing and proliferation financing.

Singapore's MAS launches information-sharing platform to combat financial crime with six commercial banks

KUALA LUMPUR (March 27): Malaysia’s first shariah-compliant and conventional peer-to-peer (P2P) financing platform microLEAP recorded a total financing disbursement of RM62.18 million last year, more than double from RM30.91 million in 2022.

microLEAP records over 100% rise in total financing disbursement in 2023

Alibaba Group said on Tuesday it was offering to buy the 36% of Cainiao it does not already own for up to US$3.75 billion (RM17.7 billion), abandoning plans for an initial public offering (IPO) of the logistics business in Hong Kong.

Alibaba to buy Cainiao stake for up to US$3.75b as it drops IPO plan

Thailand's government expects to launch a signature handout scheme worth 500 billion baht (RM65.2 billion) by the fourth quarter of this year, a deputy finance minister said on Monday, delaying it beyond a former target date of May.

Thailand delays US$14b handout scheme to fourth quarter

JAKARTA (March 22): Southeast Asian online lending platform Akulaku, which is backed by China's Alibaba, secured up to US$100 million of debt financing from the Singapore branch of London-based HSBC, Akulaku's CEO said, as it aims to make the company more profitable.

Alibaba-backed fintech Akulaku secures HSBC financing, aims for double-digit growth

SINGAPORE (March 22): Maybank has entered into a memorandum of understanding (MOU) with fintech firm Doxa Holdings International (Doxa) to jointly provide and enhance supply chain financing (SCF) solutions for players in the building and construction sector, extending to other industries in the future.

Maybank, Doxa ink MOU for supply chain financing solutions in building & construction sector

The Ministry of Energy Transition and Water Transformation (Petra), in collaboration with The National Water Services Commission (SPAN), is poised to establish and devise the framework for implementing transformative measures in the water services sector over the next decade.

Fadillah: Petra, SPAN to drive implementation of transformative measures for water services sector

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.

Critical point failure could’ve led to fatal Lumut chopper crash, says expert

KOTA BHARU (April 23): The man involved in the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a Kota Bharu court on Wednesday (April 24), according to the police.

KLIA shooting suspect to be charged in Kota Bharu on Wednesday

Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Sarawak eyeing partnership with UK companies to boost semicon capabilities

Malaysia's education system must be synonymous with the development of the country, said Higher Education Minister Datuk Seri Zambry Abd Kadir.

Zambry: Education system must be synonymous with country’s development

IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.

Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.

Downed HOM chopper used for the first time in flyby, says defence minister 

BENGALURU (April 23): Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week.

Gold drifts lower for second day as Middle East fears subside

Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.

Wall Street gains on bright earnings, megacaps' support

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 23)

Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;

Moomoo Malaysia surpassed 100,000 clients within six weeks of its debut in Malaysia

While Sapura Energy Bhd has resolved one key condition of its reset plan, analysts did not change their recommendations on the group, as there is still an arduous journey ahead for the group to address its balance sheet position.

Sapura Energy not out of the woods yet as large debts still in its way

KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs &amp; Large Enterprises).

Malaysia emerges as prime destination for Asean biz expansion — UOB study

KUALA LUMPUR (April 23): Former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsudin has settled his defamation lawsuit against Economics Minister Rafizi Ramli out of court.

Ex-Sapura Energy CEO Shahril settles defamation suit against Rafizi

Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.

Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.

In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.

Cypark's LSS3 solar plant in Terengganu set for commercial operations next month

CONSTRUCTION firm GDB Holdings Bhd — which has been embroiled in disputes with KSK Group in the last two years over the development of the 8 Conlay project in Kuala Lumpur — appears to be back on investors’ radar, judging by the recent upward trend in its share price.

According to marke...

GDB Holdings a front runner for several jobs

Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.&nbsp;

Bursa ends higher on buying support from local and foreign institutions

Construction and engineering contractor Crest Builder Holdings Bhd said it had secured a condominium project valued at RM486 million in Mont Kiara. &nbsp;

The project, awarded by Kiaramas Development Sdn Bhd, involves the construction of three blocks of condominiums with car park podiums in Jalan Desa Kiara.&nbsp;The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.

Crest Builder bags RM486m condominium project in Mont Kiara

PETALING JAYA (April 23): Tropicana Corp Bhd is partnering with Maybank Islamic Bhd to provide a home financing solution called Maybank Islamic’s HouzKEY.&nbsp;

Tropicana partners Maybank Islamic to offer HouzKEY home financing solution

Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as its dominance in the high-end segment came under pressure from Huawei's new product launches, market data showed.

Apple's 1Q smartphone shipments in China tumble 19%, data shows

GLOBETRONICS Technology Bhd, an established outsourced semiconductor assembly and test (OSAT) player, is planning to move up the value chain by diversifying into advanced packaging to ride the wave of rising demand for such services.

It also expects advanced packaging to be its future r...

Globetronics to venture into advanced packaging on back of rising demand

The defence in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial will contest the 25 abuse of power and money-laundering charges levelled against former prime minister Datuk Seri Najib Razak.

Shafee: 1MDB-Tanore charges 'all wrong', will mount challenge

Following its demerger from CIMB Group Holdings Bhd, CGS International Securities Malaysia (CGS Malaysia) is aiming for a compound annual growth rate (CAGR) of about 15% to 20% in revenue over the next three to five years.

Following demerger, CGS Malaysia aims for 15%-20% CAGR in revenue over next five years

Malaysia still has the advantages for the “China plus one” (China+1) strategy, despite facing rising competition from its neighbouring countries, according to the Socio-Economic Research Centre (SERC).

Malaysia still front runner for China+1 strategy despite rising competition from regional countries, says SERC

KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.

KomarkCorp appeals against High Court's ruling that The Edge did not defame the company

KUALA LUMPUR (April 23):&nbsp;The Iskandar Regional Development Authority’s (IRDA) target to achieve&nbsp;cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.

Iskandar Malaysia’s RM636b investment target to help propel country into world's top 30 economies — PM

KUALA LUMPUR (April 23): Grade A prime office spaces continue to be in demand with improving vacancy and rental rates due to the flight to quality trend among tenants, according to JLL (Malaysia), as discussed in its JLL’s 1Q2024 Greater Kuala Lumpur Property Market Monitor launch on Tuesday.&nbsp;

Grade A prime office spaces continue to be in demand — JLL (Malaysia)

The bodies of the 10 victims involved in the mid-air collision and crash involving two helicopters at the Royal Malaysian Navy (RMN) base in Lumut were recovered earlier on Tuesday.

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