KUALA LUMPUR (Nov 28): Airo makes its official entry into the fintech arena, positioned as Malaysia’s first actively managed digital investment platform/robo-advisor.

Airo launches Malaysia’s first actively managed robo-advisor

KUALA LUMPUR (Nov 20): The recent weakness in semiconductor stocks due to it being in a down cycle presents an opportunity for investors to build positions for the long term, said Takeshi Kawamoto, senior equity analyst of Nomura Asset Management UK.

Semiconductor down cycle presents good long-term opportunities, says Nomura’s Kawamoto

KUALA LUMPUR (Nov 7): A different type of private retirement scheme (PRS), termed as the algorithm-based PRS, will be launched in the market to encourage Malaysians, especially the younger generation to save early for retirement.

Algo-based PRS: A new retirement solution

The Employees Provident Fund (EPF) is looking into restructuring the account of its members to introduce a new mechanism for saving and withdrawal, and to align the withdrawal age of its members with their minimum retirement age.

EPF looking into restructuring its members’ account and more

KUALA LUMPUR (Oct 9): Malaysians are set to officially welcome its fifth digital asset exchange (DAX) or cryptocurrency trading platform in the first quarter of 2024.

Ex-Luno general manager to launch new digital asset exchange

KUALA LUMPUR (March 7): Women in Asia are taking the reins in building their financial security though investing, and thus challenging the view that Asia compared to the West is still a patriarchal society.

Rising number of women investors can reshape economies

(Feb 14): Danny Lee, who previously ran private equity investments for the family office of Alibaba Group Holding Ltd co-founder Joe Tsai, is seeking to raise about US$200 million for his own fund targeting wealthy individuals looking to diversify their investments.

Lee, a veteran ...

Ex-private equity chief for Joe Tsai’s family office starts fund

Last November, the local fund management industry saw a new kid on the block in Cross Light Capital Sdn Bhd. So what, you may ask. New fund management companies crop up every now and then. But this one claims to be different.

New kid on the block

Investments in private financial technology (fintech) companies in Asia-Pacific grew 9.1% quarter on quarter to US$1.4 billion (RM5.8 billion) in 2Q2020, according to the latest APAC Fintech Funding Report by S&P Global Market Intelligence released on Aug 25.

Fintech f...

Trends: Fintech funding in Asia-Pacific saw spike in 2Q, led by Southeast Asia

Malaysians who rely on fixed deposits (FDs) to fund their retirement have been encouraged by financial planners to diversify into other investment instruments in view of interest rates that are expected to stay low. This does not mean investing only in conservative assets such as bond funds but a...

Investing: How can retirees diversify out of FDs?

In Malaysia, the advent and development of fintech has led to a growing number of investors turning to digital means to invest their funds. Despite this, the majority of local investors still prefer interacting with a human being in guiding their investment decisions, according to the Federation ...

Industry: Investors still prefer human interaction for UTS and PRS products, says FIMM

At the turn of the century, Danny Ng used most of his savings to acquire Fibromat (M) Bhd, a soil erosion control product manufacturer and supplier. Through grit and sheer tenacity, he grew the company, eventually leading it to a listing on the Leading Entrepreneur Accelerator Platform (LEAP) Mar...

Cover Story: Driven by a hunger for success

The value of Malaysian households’ gross financial assets rose 6.5% in 2019, higher than the 5.1% recorded in the previous year, according to The Allianz Global Wealth Report 2020 published on Sept 28.

The press release accompanying the report states that the increase was mainly driven ...

Trends: Malaysian households increasingly richer, says Allianz report

Investors should be mindful of the wide gap between the performance of growth and value stocks, as it is one of the key investment risks in the post-Covid-19 landscape, said Affin Hwang Asset Management Bhd managing director Teng Chee Wai at the first instalment of The Edge-Citigold Weal...

The Edge-Citigold Wealth Webinar Series 2020: Wide gap between performance of value and growth stocks

The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.

IMF urges Bank of Japan to tread cautiously in raising interest rates

Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.

Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.

Israel's Iran attack carefully calibrated after internal splits, US pressure

The Nasdaq and the S&P 500 dipped on Friday, with Netflix among the biggest drags on a dour quarterly forecast, while all three indexes stared at weekly losses amid diminishing hopes that the Federal Reserve would cut interest rates anytime soon.

Nasdaq lags peers as Netflix, chip stocks drag; AmEx lifts Dow

Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.

Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.

Anwar arrives in Kota Kinabalu for one-day visit

Parties in the Unity Government have their methods to ensure a win in the Kuala Kubu Baharu by-election next month, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Ahmad Zahid, who is also Barisan Nasional (BN) chairman, said this was discussed at the Unity Government secretariat meeting on Wednesday.

Unity Govt parties have ways to ensure victory in Kuala Kubu Baharu polls — Ahmad Zahid

All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.

Travellers to and from Singapore carrying over S$20,000 must submit online declaration from May 13

KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

Sapura Energy, PIE Industrial, LSH Capital, YX, Westports, Yinson, Sime Darby Property, MISC, Meta Bright, EG Industries, Hextar, Uzma, Nova MSC and Iconic Worldwide

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

YX Precious Metals proposes to transfer listing from ACE Market to Main Market

(April 19): Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.

Softbank-backed Oyo eyes US$450 mil bond sale for refinancing

CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses.  

The group recorded an 8.4% drop in operating income and an 11.8% increase in operating expenses. The effects of these were partially offset by a 36.9% decline in expected credit loss, according to CIMB Thai president and chief executive officer Paul Wong Chee Kin in a statement. CIMB Group Holdings Bhd has a 94.83% interest in CIMB Thai.

CIMB Thai's 1Q earnings drop 24.6% as operating income falls while opex climbs

DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an&nbsp;Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.

Tehran signals no retaliation against Israel after drones attack Iran

KUALA LUMPUR (April 19): Construction company Lim Seong Hai Capital Bhd (LSH Capital) said it has obtained approval from its shareholders to transfer the group’s listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Bhd.

Lim Seong Hai Capital gets shareholder nod for transfer of listing to ACE Market

KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 19): M&amp;A Equity Holdings Bhd announced that an individual by the name of Siti Nur Aishah Ishak has become a substantial shareholder of the stockbroking firm, after acquiring a 0.13% stake in the company.

Siti Nur Aishah emerges as substantial shareholder of M&A Equity

SINGAPORE (April 19): CGS-CIMB Securities has officially rebranded as CGS International Securities (CGS International), as the integrated financial services provider launched its new identity in Singapore on Thursday (April 18).&nbsp;

CGS-CIMB Securities rebrands as CGS International, aims to double revenue to S$700 mil by 2030

KUALA LUMPUR (April 19): UEM Sunrise Bhd has launched The Beat 2.0, an extension of The Beat retail hub at its Kiara Bay development in Kepong, during a groundbreaking ceremony held at the Kiara Bay sales gallery on Friday. The Beat 2.0 measures 2.6-acres and will comprise a net lease area (NLA) of 73,566 square feet (sq ft), according to a press statement on Friday.

UEM Sunrise launches The Beat 2.0 at Kiara Bay, welcomes Harvey Norman as anchor tenant

MISC Bhd, via its petroleum arm AET, has entered into time charter party contracts with PETCO Trading Labuan Company Ltd (PTLCL) for the world’s first two ammonia dual-fuel Aframaxes (tankers with a deadweight of between 80,000 and 120,000 tonnes), as it seeks to reduce overall emissions from its operations.

Both MISC and PTLCL are units of&nbsp; national oil company Petronas.

MISC enters time charter party contracts with Petronas unit for world's first ammonia dual-fuel Aframax tankers

KUALA LUMPUR (April 19): Fajarbaru Builder Group Bhd said it has secured a RM13.33 million contract to upgrade fire engineering systems at the Kuala Lumpur International Airport’s Terminal 1 satellite building.

Fajarbaru clinches RM13 mil contract from MAHB

KUALA LUMPUR (April 19): Silver Ridge Holdings Bhd said its wholly owned unit is being sued by a subcontractor over alleged outstanding contract payments.

Silver Ridge’s unit slapped with suit over alleged unpaid contract sums

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

KUALA LUMPUR (April 19): Iconic Worldwide Bhd has raised a total of RM95.6 million through its rights issue exercise with free warrants, which was oversubscribed.

Iconic Worldwide’s rights issue oversubscribed, raises RM95.6 mil

The mandatory general offer (MGO) for the remaining 34.1% stake in Pan Malaysia Holdings Bhd (PM Holdings), launched by property developer Exsim Group's founders, the Lim brothers, concluded on Friday with acceptances for only 35,997 shares received.

No change in Lim brothers' stake as Pan Malaysia Holdings' MGO concludes

Prime Minister Datuk Seri Anwar Ibrahim said on Friday he does not want to be dragged into discussions over the purported addendum order on house arrest involving former premier Datuk Seri Najib Tun Razak.

Anwar said this was because the matter falls under the jurisdiction of the Federal Territories Pardons Board and also involves the Yang di-Pertuan Agong and the Malay Rulers.

Addendum order issue under Pardons Board's purview, says Anwar

Malaysia’s economic growth will likely pick up pace in the quarters ahead, economists say, though some are cautioning that global uncertainties raise the risk of undershooting the official target for 2024.

This follows the Department of Statistics Malaysia's advanced gross domestic product (GDP) estimate of 3.9% for the first quarter of 2024 (1Q2024).

Malaysia's economy will pick up pace but global uncertainties remain key risks — economists

SINGAPORE (April 19): Wilmar International Ltd’s board of directors has appointed former foreign minister George Yeo as a non-executive and independent director with effect from Friday.

Wilmar appoints former Singapore foreign minister George Yeo as non-executive and independent director

KUALA LUMPUR (April 19): Ten individuals suspected of being involved in the case related to an&nbsp;Israeli man who was charged with possessing bullets and trafficking&nbsp;guns, were rearrested under the Security Offences (Special Measures) Act 2012 (Sosma).

Israeli man’s case: 10 individuals rearrested under Sosma

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday due to persistent weakness in the soybean oil market on the Chicago Board of Trade, said a dealer.

Palm oil trader David Ng noted that market sentiment has been influenced by concerns regarding the anticipated surge in output over the coming weeks, which is perceived as exerting pressure on the market

CPO futures end lower due to weaker soybean futures

KUALA LUMPUR (April 19): Proposals for improvement, including efforts to increase the net income rate of civil servants, will be announced by Prime Minister Datuk Seri Anwar Ibrahim at the Labour Day rally to be held later.

Anwar, in his Facebook post, said the Meeting No 3/2024 of the ...

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