<div class=newsTextDataWrapInner>SINGAPORE (July 27): Singapore has edged out Hong Kong in the fight to be the top premier wealth management hub in Asia, according to The Deloitte International Wealth Management Centre Ranking 2018.</div>

<div class=newsTextDataWrapInner>The city-state was ranked second globally, just behind Switzerland.</div>

<div class=newsTextDataWrapInner>“Technology-driven innovation cycles have become even shorter, and digitally enabled business models are becoming the ‘new normal’,” Deloitte says... <a href="https://www.theedgesingapore.com/heres-why-singapore-trumps-hong-kong-asias-premier-wealth-management-hub" target="_blank">(Click here to read the full story)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (July 27): Singapore has edged out Hong Kong in the fight to be the top premier wealth management hub in Asia, according to The Deloitte International Wealth Management Centre Ranking 2018.

The city-state was ranked second globally, just behind Switzerland.

“Technolo...

Here's why Singapore trumps Hong Kong as Asia's premier wealth management hub

Switzerland's UBS raised its forecast for first-quarter combined net interest income (NII) in its wealth management and personal and corporate banking businesses on Tuesday, although its shares fell along with other European banks by more than 3%.

UBS lifts interest income forecasts for key businesses

China is urging banks and financial institutions to increase credit support to the advanced manufacturing sector, as part of efforts to become a powerhouse in goods from electric vehicles and wind turbines to aerospace components and semiconductors.

China urges financial institutions to boost credit for advanced manufacturing

Intel will release two artificial intelligence (AI) chips with reduced capabilities for the Chinese market, in order to comply with US export controls and sanctions.

HL-328 is scheduled for launch in June, and HL-388 in September, according to a white paper on the company's website last Friday.

Intel to launch two AI chips for China with reduced capabilities

Kenanga Research maintained its ‘underperform’ call on Bursa Malaysia, though it upped its target price to RM6.70 from RM6.45.

MORNING CALL: 16/4/24

KUALA LUMPUR (April 16): Gold jewellery manufacturer Tomei Consolidated Bhd, whose share price hit a record high last week amid rising gold prices, has declared a first and final dividend of four sen per share for the financial year ended Dec 31, 2023 (FY2023).

Tomei declares four sen dividend for 2023, expects 'reasonable profit' for 2024

Three social media account owners, namely Badrul Hisham Shaharin or Chegubard, Mohamad Salim Iskandar (Salim Iskandar), and Wan Muhammad Azri Wan Deris (Papagomo), will be called to have their statements recorded, the Malaysian Communications and Multimedia Commission (MCMC) said in a statement on Tuesday.

MCMC to record statements from Chegubard, Salim Iskandar, Papagomo

The Ministry of Investment, Trade and Industry (Miti) will draw up a comprehensive semiconductor strategic plan to ensure that Malaysia continues to be the chosen investment destination for this strategic industry, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar: Miti to draw up comprehensive semiconductor strategic plan

GuocoLand announced that its joint-venture tender with Intrepid Investments for a land parcel in Upper Thomson Road had been accepted by the Urban Redevelopment Authority at the bid price of S$779.5 million (RM2.74 billion).

GuocoLand awarded S$779.5m tender for Upper Thomson land parcel

The High Court on Tuesday set a three-day trial in January 2026 for the defamation suit filed by former culture, arts, and tourism minister Tan Sri Abdul Kadir Sheikh Fadzir against businessman Datuk Seri Aliff Syukri Kamaruzaman over defamatory statements involving tens of millions of ringgit in investment debts.

Ex-minister's defamation suit against businessman to be heard in January 2026

Iran’s unprecedented attack on Israel and the prospect of escalating hostilities have threatened to embroil Jordan, a key Western ally and a country regarded by Gulf states as pivotal to their own security.

Iran’s growing conflict with Israel puts US ally Jordan on edge

The collective wealth of tycoons listed on the 2024 Forbes Malaysia Rich List increased by a modest 2% to US$83.4 billion (RM398.8 billion), according to Forbes Asia.

Wealth of Malaysia’s 50 richest individuals on Forbes list rises 2% — Forbes Asia 

Datuk Abdul Rahman Ahmad will return to Permodalan Nasional Bhd (PNB) as its president and group chief executive effective July 1, 2024, the government-linked investment company said.

CIMB’s Abdul Rahman Ahmad returns to PNB as president, group chief executive

E-government services providers MyEG Services Bhd and HeiTech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.

According to separate bourse filings from both companies on Tuesday, MyEG and HeiTech Padu have inked a teaming agreement for the collaboration.&nbsp;

MyEG, HeiTech Padu form partnership to collaborate on IT projects

Analysts are positive on Malaysia’s pilot green power exports to Singapore using existing infrastructure in both countries, following establishment of the platform enabling cross-border trading of green electricity, the Energy Exchange Malaysia (Enegem).

Analysts positive on pilot green power exports to Singapore; name Tenaga, YTLP as top picks

CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.

CIMB says CEO Abdul Rahman Ahmad stepping down on June 30

Alliance Bank Malaysia Bhd’s (ABMB) net profit is expected to jump by 37.3% year-on-year (y-o-y) to RM179 million for the fourth quarter ended March 31, 2024 (4QFY2024), according to AmInvestment Bank Research.

AmInvestment sees Alliance Bank’s 4Q earnings jump by 37% y-o-y

The Ministry of Transport clarified on Tuesday that the higher contract value of RM190.01 million awarded to HeiTech Padu Bhd for Road Transport Department (JPJ) services was only due to a longer extended contract duration.

Loke: Higher contract value awarded to HeiTech Padu due to longer extended duration

The automotive industry is not exactly the place one would want to be in the next few years.

Competition among manufacturers of internal combustion engine vehicles, battery electric vehicles (EVs) and hybrid cars has been ongoing for more than a decade now. Last year, some certainty fin...

Alternative Views: Automotive industry feels heat from intensifying EV price war

Transport Minister Anthony Loke Siew Fook said his ministry has no objection to MMC Corp Bhd divesting a stake in MMC Port Holdings Sdn Bhd, including to foreign entities, as long as it does not contravene the government's policy that requires 51% ownership of major national assets to remain with local companies.

Loke says MMC Port free to sell stake to foreign firms, but govt has to be notified of shareholding changes

Carlo Rino Group Bhd has filed for an initial public offering (IPO) that would raise more funds for the apparel company as part of its listing transfer to the ACE Market from the LEAP Market.

Carlo Rino files draft prospectus for listing transfer to ACE Market

Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (COA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.

Muhyiddin seeks five-judge bench to hear criminal charges review

Singapore’s Prime Minister Lee Hsien Loong is stepping down on May 15 after two decades in office. Lee, 72, will hand the reins over to his deputy Lawrence Wong, 51, in a widely-telegraphed transition.

What observers are saying as Singapore’s Lee paves way for next PM Wong

China said it believed Iran could "handle the situation well and spare the region further turmoil" while safeguarding its sovereignty and dignity, referring to an attack on Iran's embassy in Syria and its retaliatory strike over the weekend.

Iran able to 'handle situation' and spare Middle East more tension, China's foreign minister says

European Commission President Ursula von der Leyen is unleashing a barrage of trade restrictions against China as she seeks to follow through on a pledge to make the EU a more relevant political player on the global stage.

EU goes on China trade offensive after getting ‘played’ 

KTI Landmark Bhd (KTI) has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement on Tuesday, the Sabah-based integrated property developer said the initial public offering (IPO) comprises a public issue of 160 million new shares and an offer for sale of 45 million existing shares, representing 20% and 5.6% of the enlarged share capital of KTI respectively.

KTI Landmark inks underwriting deal with M&A Securities en route to ACE Market listing

Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst. &nbsp;

Bursa ends morning session lower along with regional peers

Outsourced semiconductor assembly and testing (OSAT) player Globetronics Technology Bhd is in the final stages of discussion with two prospective clients interested in leveraging advanced packaging technology.

Globetronics in final talks with two potential customers for advanced packaging

EP Manufacturing Bhd's (EPMB) shares climbed on Tuesday and marked their best day in 10 months after the Shah-Alam based auto parts maker signed an assembly deal with a Chinese carmaker.

EP Manufacturing shares chart best day in 10 months after assembly deal

Gold is set to reach US$3,000 (RM14,381.71) an ounce over the next six to 18 months on increasing investor inflows amid expectations that the Federal Reserve will eventually cut interest rates, Citigroup Inc said, adding to a roll call of Wall Street banks that have raised forecasts.

Gold seen hitting US$3,000 at Citi as investor inflows juice rally

China’s rapidly expanding petrochemicals industry is making life increasingly difficult for producers in Asia’s next-biggest exporter of the building blocks for making plastics. 
&nbsp; 
Asia’s largest economy used to be the major market for South Korean companies like LG Chem Ltd and Lotte Chemical Corp. But the exporters of the chemicals used to make everything from nylon to disposable bottles and car interiors are now being forced to downsize their operations after a frenzy of petchem-plant building in China over the last few years created a supply glut. &nbsp;