Latest
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Economy
Database project on track for completion
The government’s central database hub (Padu), which integrates socio-economic information from every household in Malaysia, is now 60% complete and is set for operations in January 2024.
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Corporate News
Tanco, Palm Springs in property JV
Tanco Holdings Bhd, via its unit Palm Springs Development Sdn Bhd, has entered into a joint-venture (JV) agreement with Accession Development Sdn Bhd to develop a 22,905.5-sq-m land in Puchong, Selangor.
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Corporate News
MARii inks MoU with Indonesia’s IOI to advance automotive industry
The Malaysia Automotive Robotics and IoT Institute (MARii) and Indonesia Automotive Institute (IOI) inked a memorandum of understanding (MoU) on collaborating to advance the automotive industry of both countries.
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Corporate News
Inflationary pressure likely to affect medium-term outlook for REITs
Analysts have expressed concern that a slowdown in consumer spending may impact the medium-term outlook for local Real Estate Investment Trusts (REITs).
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Corporate News
KAB reaffirms sustainability pledge
Kinergy Advancement Bhd will remain committed to sustainability as reflected in its strategic collaboration with Mah Sing Group Bhd and Alliance Bank Malaysia Bhd to foster the adoption of environmental, social and governance (ESG) best practices.
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Auto
A dip likely after record-high car sales
While 2023 will likely be a record year in terms of total industry volume (TIV), the outlook for the year ahead remains uncertain for the automotive sector.
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Corporate News
TPG Asia’s Sarvananthan to lead Mid-East expansion
Global alternative asset management firm TPG has announced that TPG Asia managing partner Ganen Sarvananthan has been appointed to lead the firm’s activity and continued expansion in the Middle East.
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Investment
KWAP to invest RM500mil into newly launched Dana Perintis Fund
KUALA LUMPUR: Kumpulan Wang Persaraan (Diperbadankan) (KWAP) will invest up to RM500 million over the next 18 to 24 months into the newly launched fund called Dana Perintis, which is aimed at injecting vitality into Malaysia’s venture and startup ecosystem.
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Corporate News
DXN to explore setting up integrative medicine facility
KUALA LUMPUR: DXN Holdings Bhd has entered into a memorandum of understanding (MoA) with the Malaysia Holistic and Herbal Organisation (MHHO) to explore a collaboration with an aim to establish an integrative medicine facility.
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Corporate News
Tanco enters JV for residential development in Puchong Perdana
KUALA LUMPUR: Tanco Holdings Bhd's indirect subsidiary Palm Springs Development Sdn Bhd has entered into a joint venture with Accession Development Sdn Bhd for the development of residential project on a 22,905.5 sqm tract of leasehold land in Puchong Perdana, Petaling, in Selangor.
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Economy
Bank of England halts run of interest rate hikes as economy slows
LONDON: The Bank of England halted its long run of interest rate increases on Thursday as the British economy slowed, but said it was not taking a recent fall in inflation for granted.
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Investment
reNIKOLA unit enters subscription agreement for world's first climate sukuk
KUALA LUMPUR: reNIKOLA Holdings Sdn Bhd's wholly-owned subsidiary reNIKOLA Solar II Sdn Bhd will issue its second Asean Green SRI Sukuk after entering into a subscription agreement with Hong Leong Investment Bank Bhd (HLIB) and MIDF Amanah Investment Bank Bhd (MAIB).
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Corporate News
7-Eleven unit sells 75% stake in Caring Pharmacy to Big Pharmacy for RM675mil
KUALA LUMPUR: 7-Eleven Malaysia Holdings Bhd's (SEM) wholly-owned subsidiary Convenience Shopping (Sabah) Sdn Bhd (CSSSB) will sell a 75 per cent stake in Caring Pharmacy Group Bhd (Caring) for RM675 million.
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Forex
Ringgit ends easier vs US$ after Fed's hawkish tone
KUALA LUMPUR: The ringgit ended easier against the US dollar today as the greenback advanced on hawkish statements by the US Federal Reserve (Fed) on interest rates.
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Markets
Bursa Malaysia ends lower in sync with regional markets
KUALA LUMPUR: Bursa Malaysia closed lower for the fourth consecutive day today due to cautious sentiments within the regional economy, said an analyst.
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Banking
AmBank continues to invest in SMEs towards growth, success
KUALA LUMPUR: AMMB Holdings Bhd (AmBank) will continue to invest in small and medium enterprises (SMEs) to empower the sector’s journey towards growth and success, said group chief executive officer Datuk Sulaiman Mohd Tahir.
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Property
EcoWorld Malaysia on track to meeting FY23 target with sales of RM3.06bil
KUALA LUMPUR: Eco World Development Group Bhd (EcoWorld Malaysia) achieved sales of RM3.06bil in the first 10 months of its financial year, which put it on track to meeting its FY23 sales target of RM3.5bil.
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Corporate News
Google discussed dropping Broadcom as AI chips supplier
ALPHABET-owned Google has discussed dropping Broadcom as a supplier of artificial intelligence (AI) chips as early as 2027, The Information reported on Thursday, sending Broadcom shares down 5% in premarket trading.
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Corporate News
Dayang secures contract extension from Sapura OMV
KUALA LUMPUR: Dayang Enterprise Holdings Bhd's wholly-owned subsidiary Dayang Enterprise Sdn Bhd has received a contract amendment and extension for the provision of Pan Malaysia maintenance, construction and modification contractor for 2018 to 2023 - Package C (East Malaysia).
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Corporate News
UMW Group auto sales up 18% to 41,386 in August 2023
KUALA LUMPUR: UMW group automotive sales increased by 18 per cent in August 2023 with 41,386 units delivered as both UMW Toyota Motor (UMWT) and UMW’s associate Perodua make good their outstanding orders.
