Business

PNB to assess Sunway's VGO for IJM on commercial basis

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) will assess Sunway Bhd's voluntary general offer (VGO) for IJM Corporation Bhd based on commercial considerations, offer risks, governance, investment returns, and Sunway's strategic plans post- acquisition.

Markets

Kee Ming IPO oversubscribed 54.16 times ahead of ACE Market debut

KUALA LUMPUR: ACE Market-bound Kee Ming Group Bhd's public portion of its initial public offering (IPO) was oversubscribed by 54.16 times ahead of its Feb 12, 2026 listing.

Corporate News

IOI Properties Group sells industrial land for RM740mil

PETALING JAYA: IOI Properties Group Bhd (IOIPG) has inked an agreement to sell three plots of land at its IOI Industrial Park @ Banting for RM740.68mil.

Corporate News

SBS Nexus partners with NCSM on Lung Shield Programme

KUALA LUMPUR: SBS Nexus Bhd has entered into a memorandum of understanding (MoU) with the National Cancer Society of Malaysia (NCSM) to formalise a corporate social responsibility (CSR)–focused strategic collaboration supporting the Lung Shield Programme.

Markets

Profit-taking drags FBM KLCI lower as sentiment turns cautious

KUALA LUMPUR: Profit-taking weighed on the local market, with investor sentiment remaining cautious amid mixed signals from regional markets.

Banking

KAF Digital Bank appoints Suzaini Mukhtar as CEO

KUALA LUMPUR: KAF Digital Bank Bhd has appointed Suzaini Mukhtar as chief executive officer (CEO), effective Feb 1, 2026.

Markets

Nomura sees optimistic outlook for Malaysian equities amid stronger ringgit

KUALA LUMPUR: Malaysia's equity market outlook remains optimistic, reflected in the strengthening of the ringgit, said global asset management firm, Nomura Asset Management.

Economy

Govt expects fiscal deficit to shrink to 3.5% in 2026, says Amir Hamzah

KUALA LUMPUR: The government expects the country's fiscal deficit to continue to shrink to 3.5 per cent in 2026, close to achieving the medium-term target of 3.0 per cent under the Public Finance and Fiscal Responsibility Act (FRA) 2023, reflecting increasingly strong fiscal discipline.

Commodities

Gold climbs back near US$5,100 as US-Iran tensions flare

GOLD prices bounced back to near US$5,100 on Wednesday on safe-haven demand as renewed geopolitical tensions between the U.S. and Iran added to the yellow metal's appeal a day after it posted its best day in over 17 years.

Corporate News

MISC to supply liquefied carbon dioxide carrier to Northern Lights CCS project

SINGAPORE: Malaysia's MISC Bhd and its Japanese partner have secured a 10-year time charter with Norway's Northern Lights joint venture for a new liquefied carbon dioxide carrier, the Malaysian shipper said on Wednesday.

Forex

Dollar steady, yen softer ahead of Japan election

SINGAPORE: The U.S. dollar was steady on Wednesday as investors remained cautious after a partial government shutdown swiftly ended while the yen weakened near a two-week low ahead of what is shaping up to be an unpredictable national election over the weekend.

e-Commerce

JD to spend over US$180mil on worker bonus

CHINESE e-commerce firm JD said on Tuesday it plans to spend more than 1.3 billion yuan (around $180 million) during the nine-day Chinese New Year holiday in providing enhanced pay and benefits for frontline staff.

Corporate News

Praveen Rajan assumes CEO role at PayNet

KUALA LUMPUR: Payments Network Malaysia Sdn Bhd (PayNet) said Praveen Rajan has assumed the role of CEO, effective Feb 1, 2026.

Markets

FBM KLCI slips amid broad market sell-down

KUALA LUMPUR: The FBM KLCI fell in morning trade as mounting global uncertainty over interest rates and a US tech sell-off sapped momentum from equities markets.

Corporate News

Binastra unit secures RM503mil data centre development project

KUALA LUMPUR: Binastra Corp Bhd said its wholly-owned subsidiary Binastra Builders Sdn Bhd has accepted an RM503mil award from Exsim Sri Permai Sdn Bhd for the proposed development of a data centre in Cheras, KL.

Corporate News

PETRONAS signs 20-year LNG supply deal with QatarEnergy

KUALA LUMPUR: Petronas LNG Ltd (PLL), a subsidiary of Petroliam Nasional Bhd (Petronas), has signed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with QatarEnergy, the first long-term LNG supply agreement between the two companies.

Commodities

Oil prices extend gains on fears of escalating tensions in Mideast

TOKYO: Oil prices rose on Wednesday, extending the previous day's gains, after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel in the Strait of Hormuz, rekindling fears of an escalation in tension between Washington and Tehran.

Markets

Asia shares wobble, oil prices climb and gold makes a comeback

SINGAPORE: Asian stocks were on shaky ground on Wednesday, following steep losses in U.S. and European equities on fears that advancements in artificial intelligence could supplant traditional software.

Markets

Traders seek fresh catalysts on local market

KUALA LUMPUR: The FBM KLCI hovered near the previous day's close as investors sought for direction amid a consolidating market.

Forex

Ringgit opens higher against US$ amid mixed Fed rate views

KUALA LUMPUR: The ringgit opened higher against the US dollar on Wednesday amid mixed views among the United States Federal Reserve (Fed) officials on interest rates.