Forex

Ringgit bounces to fresh 14-month high as US dollar weakens on expected rate cut

KUALA LUMPUR: The ringgit jumped to a fresh 14-month high against the greenback on Wednesday, hitting 4.1200 at the close as the continued anticipation of an interest rate cut by the US Federal Reserve (Fed) next week weighed on the dollar.

Markets

Malaysia well-positioned to retain top spot in Asean for IPO listings, fund raising in 2026

KUALA LUMPUR: Malaysia is well-positioned to retain its top spot in ASEAN for initial public offering (IPO) listings and fundraising in 2026, said CGS International Securities Malaysia Sdn Bhd (CGS Malaysia).

Markets

Rex Industry changes name to ETA Group, effective Dec 8

KUALA LUMPUR: Rex Industry Bhd is changing its name to ETA Group Bhd, effective Dec 8, 2025.

Corporate News

Wasco bags three-year procurement and construction job

PETALING JAYA: Wasco Bhd has secured a contract from Italy-based Technip Energies Italy S.p.A. to complete the procurement and construction of pre-assembled modules on a remeasurement basis.

Business

Mida welcomes Tengku Zafrul's appointment as chairman

KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) has welcomed the appointment of Tengku Datuk Seri Zafrul Abdul Aziz as its new chairman with immediate effect. 

Corporate News

MBL disposes of lands in Johor for RM9.5mil

PETALING JAYA: Muar Ban Lee Group Bhd (MBL) is disposing of two pieces of leasehold industrial land totalling 2.26 acres in Muar, Johor to Airegold Sdn Bhd for RM9.5mil.

Corporate News

Tafi disposes of Johor land for RM24mil

PETALING JAYA: Tafi Industries Bhd is disposing of a piece of freehold land measuring 2.074 hectares in Muar, Johor to Bripanel Industries Sdn Bhd for RM23.5mil.

Markets

Bursa Malaysia slips; ringgit climbs to 15-month high against dollar

KUALA LUMPUR: Bursa Malaysia saw continued selling pressure on Wednesday, pushing the benchmark index lower, while the ringgit climbed to a 15-month high against the US dollar.

Energy

Oil rises on concerns Russia-Ukraine talks may falter, leaving supply sanctioned

PERTH, Australia: Oil prices rose on Wednesday, reversing earlier losses, as investors believe Russia-Ukraine peace talks are unlikely to lead to the removal of sanctions on Russian crude, though gains were limited by concerns about an overall supply surplus.

Banking

SME Bank activates flood-relief support for MSMEs nationwide

KUALA LUMPUR: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has activated its flood-relief support to assist entrepreneurs and businesses affected by the recent floods nationwide.

Corporate News

Zara owner Inditex reports strong start to winter sales

LONDON: Zara owner Inditex said sales grew 10.6% in constant currency over the start of its fourth quarter, beating analysts' expectations for the November period that includes the crucial Black Friday sales.

Commodities

Gold holds steady ahead of US data, rate cut bets in focus

GOLD steadied at the close of Asia trade on Wednesday as investors awaited a raft of U.S. data this week to set the course for the U.S. Federal Reserve's monetary policy, while silver vaulted to a record high.

Technology

Global semiconductor equipment billings surge 11% in 3Q

PETALING JAYA: Global semiconductor equipment billings rose 11% year-over-year to US$33.66bil in the third quarter of 2025, according to US-based Semiconductor Equipment Manufacturers Industry (SEMI).

Aviation

Airbus cuts delivery target after troubles with most popular jet

AIRBUS SE lowered its aircraft delivery target for the year by 3.7% after problems with its best-selling A320 model.

Banking

HSBC names Brendan Nelson chairman in surprise move

HSBC Holdings' interim chairman Brendan Nelson will move into that role on a permanent basis, in a surprise move that came seven months after the Asia-focused lender started a search to replace its former chair Mark Tucker.

Markets

Stocks steady as slide in bitcoin, global bonds hit pause

SINGAPORE: Global shares were on steadier footing on Wednesday, helped by an overnight rebound on Wall Street as a brief selloff in bond markets and cryptocurrencies abated.

Banking

BNPL loans at RM4.2bil as of Sept 30, 2025

KUALA LUMPUR: The total buy now pay later (BNPL) scheme loans as of Sept 30, 2025 were RM4.2 billion covering seven million active account holders in the country, comprising 0.3 per cent of the total household indebtedness in Malaysia.

Business

Gen Z turns to convenience, flexibility of rental economy

CHENG Shuo works as an accountant in Suzhou, Jiangsu province, but the 27-year-old's real passion is attending live music performances. Almost every month, she travels to different cities for concerts, music festivals and fan events.

Commodities

Malaysia palm reserves seen at six-year high as exports slump

PALM oil stockpiles in Malaysia surged to the highest in more than six years as exports dropped in November, according to a survey.

Corporate News

Genting, GenM face rating downgrade risk after takeover bid, says CreditSights

KUALA LUMPUR: Genting Bhd and Genting Malaysia Bhd (GENM) face increased credit rating downgrade risk following Genting's RM3.1 billion acquisition of additional shares in GENM, according to CreditSights.