Nation

Govt spending RM3.5bil a month on fuel subsidies, says Finance Ministry

KUALA LUMPUR: The government's subsidy bill for RON95 petrol and diesel is projected to remain high at about RM3.5bil a month at current market prices, amid the ongoing conflict in the Middle East, says the Finance Ministry.

Banking

Maybank says Indonesian unit not under investigation, cooperating with authorities

KUALA LUMPUR: Malayan Banking Bhd (Maybank) said its Indonesian unit is cooperating with authorities after some of its personnel were asked to provide information as witnesses in connection with an ongoing matter involving certain corporate customers.

Markets

Wil-Key Bhd eyes ACE Market listing

PETALING JAYA: Wil-Key Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.

Corporate News

ISF Group secures RM14.5mil hyperscale data centre contract

PETALING JAYA: ISF Group Bhd, via its wholly-owned subsidiary, Yeo Plumber Sdn Bhd (YPSB), has been appointed the subcontractor for the internal sewerage works for a hyperscale data centre project worth RM14.5mil.

Retail

Sea’s Shopee cuts hundreds of developer jobs during pivot to AI

SEA Ltd.'s Shopee is cutting hundreds of developer jobs globally, joining rivals across the world in slashing staff while they adopt AI in the workplace and develop new services based on the technology.

Insurance

Takaful industry grows 4.73% in 2025, gross contributions reach RM16.38bil in 2025

KUALA LUMPUR: The Malaysian takaful industry demonstrated resilience in 2025, growing by 4.73 per cent in 2025, bringing total gross contributions to RM16.38 billion, according to the Malaysian Takaful Association.

Corporate News

Rohas wins another TNB contract worth RM42mil

PETALING JAYA: Rohas Tecnic Bhd has bagged another fibre optic supply and services contract from Tenaga Nasional Bhd (TNB), worth RM42.44mil.

Forex

Ringgit eases against greenback ahead of US CPI release

KUALA LUMPUR: The ringgit ended lower against the US dollar today as market sentiment remained cautious ahead of the release of the United States' May Consumer Price Index (CPI) data.

Corporate News

Pentech upbeat on growth prospects amid digitalisation push

KUALA LUMPUR: Pentech Holdings Bhd is optimistic about its growth prospects, supported by favourable industry trends, rising digitalisation and its established position in the ICT industry.

Corporate News

Ann Joo disposes of land in Kedah for RM119.59mil

PETALING JAYA: Ann Joo Resources Bhd, via a joint venture (JV) between its indirect subsidiary Gurun Heavy Industrial Park Sdn Bhd (GHIP) and Transyear Sdn Bhd, is disposing of a 62.395-acre plot of land at the Gurun Heavy Industrial Park, Kedah to Zichen Malaysia Sdn Bhd for RM119.59mil.

Corporate News

Amway Malaysia appoints Leng Kek Mun as MD

PETALING JAYA: Amway (Malaysia) Holdings Bhd has appointed Leng Kek Mun as its managing director.

Energy

PETRONAS strengthens upstream portfolio through strategic partnerships

KUALA LUMPUR: Petroliam Nasional Bhd's (PETRONAS) wholly owned subsidiary, PETRONAS Carigali Sdn Bhd, has entered into several agreements involving selected producing upstream assets in Peninsular Malaysia and Sarawak.

Commodities

Malaysia palm reserves jump most in five months as exports drop

PALM oil stockpiles in Malaysia climbed at the fastest pace in five months as a sharp drop in exports overshadowed weaker production in the world's second-largest grower.

Markets

FBM KLCI snaps two-day losing streak amid regional market sell-off

KUALA LUMPUR: The FBM KLCI snapped a two-day losing streak on Wednesday, outperforming most regional markets, although broader sentiment remained cautious amid escalating tensions in the Middle East and ahead of key US inflation data.

Business

Study finds gap between financial literacy and financial security among Malaysians

KUALA LUMPUR: Digitally engaged Malaysians demonstrate relatively strong financial literacy, but many continue to face challenges translating financial knowledge into long-term financial resilience and retirement preparedness, according to a joint report by Monash University Malaysia, Versa and AHAM Asset Management.

Commodities

Gold falls to 11-week low as oil rises on fresh US-Iran hostilities

GOLD fell to an 11-week low on Wednesday, as oil prices rose on renewed hostilities between the U.S. and Iran, fuelling concerns about inflation and interest rate hikes.

Energy

Oil steady as investors weigh renewed US-Iran fighting

LONDON: Oil prices were steady on Wednesday, as renewed U.S.-Iran hostilities muddied direction, though a forecast U.S. stock draw offered support.

Markets

Stratus Global signs underwriting agreement for Main Market IPO

KUALA LUMPUR: Semiconductor automated material handling system (AMHS) solutions provider Stratus Global Holdings Bhd has signed an underwriting agreement with UOB Kay Hian (M) Sdn Bhd ahead of its proposed listing on the Main Market of Bursa Malaysia.

Business

SC charges ex-Karex CFO with insider trading

KUALA LUMPUR: The Securities Commission Malaysia (SC) has charged the former chief financial officer of condom maker Karex Bhd, Goh Chok Siang, with an insider trading offence under section 188(2)(a) of the Capital Markets and Services Act 2007.

Banking

CIMB, China Citic Bank partner to boost China-Asean financial connectivity

KUALA LUMPUR: CIMB Bank Bhd has entered into a partnership with China CITIC Bank Corp Ltd to strengthen financial connectivity between China and ASEAN, with a particular focus on Malaysia and Indonesia.