Having booked record-high profits for three years straight, it is little wonder that the share price of VSTECS Bhd has more than tripled in the past 3½ years. What started out as a humble information, communications and technology (ICT) peripherals distributor nearly four decades ago in 1985 is today a Main Market-listed company that describes itself as a leading ICT distributor in Asia-Pacific, with a network of more than 4,600 resellers and system integrators supporting the push towards digitalisation.

Reaping record profits from hard work, digitalisation wave

NINE months into the job as Minister of Investment, Trade and Industry, and having fielded questions on global trade at Davos in his previous position as finance minister, Tengku Datuk Seri Zafrul Abdul Aziz had expected to be questioned over what looked like rather feeble fiscal backing for Mala...

Cover Story: Malaysia’s new outcome-driven mission to reindustrialise

DATUK Seri Anwar Ibrahim recently drew flack from some netizens who thought the prime minister was rather dismissive towards a teenage girl at a matriculation college in Penang who plucked up the courage to ask at a public dialogue whether his administration would do away with the bumiputera quot...

The State of the Nation: Correcting the flawed narrative that made low income a GST hurdle for Malaysia but not six Asean peers

Brokers Digest: Local Equities - Automobile, Kerjaya Prospek Group Bhd, Time dotCom Bhd, CelcomDigi Bhd

MAKING good its word that its shareholders, too, would “soon” get 5G services, Maxis Bhd on Aug 14 entered into an agreement with Digital Nasional Bhd (DNB) and offered 5G services to its customers within 24 hours of getting shareholders’ approval at an extraordinary general meeting (EGM) that to...

Having rolled out 5G, will Maxis buy Astro? 

WITH second-quarter growth of 2.9% surprising the local market on the downside — a plunge from 1Q’s better-than-expected 5.6% — the spotlight is on Prime Minister Datuk Seri Anwar Ibrahim. He had said on Aug 18 that the country’s economy “remains resilient and continues to improve” and Putrajaya ...

The State Of The Nation: Weak 2Q GDP showing puts spotlight on Putrajaya’s 6% growth aspiration 

BEING the “wealthiest country of the six” studied, and the only upper-middle-­income country compared, Malaysia “had the most favourable business environment” and fared better than five other East Asian middle-income developing countries surveyed by the World Bank to examine the economic impact o...

Strengthen data and aid monitoring systems to prepare for the next crisis, World Bank says  

GENERALLY, low wages are a known structural challenge for many Malaysians, one that not only impedes their ability to save for old age but also limits the government’s hand when it comes to considerations on imposing broad-based taxes. As the cost of food and basic necessities rise, politicians a...

The State of the Nation: Upskilling, high-value investments better options to lift wages than 45% labour income share target 

WITH the low female labour force participation rate named among the nine challenges Malaysia faces in the country’s bid to sustainably rejuvenate economic growth, the need to raise the rate to 60% within 10 years or earlier is one of seven economic mission-targets announced by Prime Minister Datu...

The State of the Nation: Significance of raising female labour participation rate

BARELY a month since sounding the ceremonial gong at the Rockefeller Centre to mark the opening of its New York office on June 21, Nicolas Aguzin, CEO of the Hong Kong Exchanges and Clearing Ltd (HKEX), is on a charm offensive overseas, including in Malaysia and Southeast Asia, in a bid to shore ...

A closer look at Hong Kong-listed Malaysian companies as HKEX eyes more Southeast Asian IPOs

Global stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen sank to a 34-year low after the Bank of Japan (BOJ) kept monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

(April 26): HSBC Holdings Plc successfully fought off a London court claim brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 26): KPJ Healthcare Bhd, through its premier educational institution KPJ Healthcare University (KPJU), has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

Penang Chief Minister Chow Kon Yeow&nbsp;has announced that he is in talks with a group of companies which have recently participated in Selangor’s integrated circuit (IC) design park.

Integrated circuit design firms to announce investments in Penang on Saturday, says Chow

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KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.

KNM seeks fresh scheme of arrangement with creditors

Homeritz Corporation Bhd’s net profit surged by 65.9% in the second quarter ended Feb 29, 2024 (2QFY2024) to RM9.24 million, due to increased sales volume and a stronger US dollar.

Homeritz’s 2Q net profit jumps 66% on increased sales volume, stronger greenback

Datuk Seri Anwar Ibrahim said he will be returning the allowance received as chairman of Khazanah Nasional Berhad, reiterating that he does not draw a salary for the position of prime minister that he has held since November 2022.

Anwar returns Khazanah allowance, reiterates stance on salary waiver

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

US monthly inflation rose moderately in March, but stubbornly higher housing and transportation costs suggested the Federal Reserve could keep interest rates elevated for a while.

US inflation rises in line with expectations; consumer spending strong

There are no plans to open or operate any casinos in the state, Johor Menteri Besar&nbsp;Datuk Onn Hafiz Ghazi said.

He said the news is merely a rumour intended for sabotage, and to maliciously tarnish the image of Forest City and the state of Johor as a whole.

Johor MB says no plan to open casino in Forest City

(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.

KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.

US equity funds see fourth straight week of outflows amid rate cut reassessment

HULU SELANGOR (April 28): The Ministry of Health (MOH) stands by its decision to amend the Medical Act 1971 (Act 50) to bridge the gap between the parallel pathway programme (PPP) and the local medical degree programme, despite objections from some parties.

Health Ministry stands by decision to amend Medical Act 1971

Fast-fashion firm&nbsp;Shein&nbsp;has been drawn under the scope of flagship&nbsp;European Union (EU) rules designed to clamp down on illegal and harmful content online, aimed at stopping the spread of counterfeit items on the platform.

EU hits fast-fashion giant Shein with new digital rules

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp&nbsp;will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel&nbsp;Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

HOUSTON/BENGALURU (April 26): Oil giant&nbsp;Chevron&nbsp;Corp&nbsp;beat estimates for first-quarter profit on Friday, as higher production volumes&nbsp;in the US&nbsp;helped offset a hit from weak natural gas prices&nbsp;and fuel margins.

Chevron posts 1Q profit beat with oil production gains

WASHINGTON (April 26):&nbsp;Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US&nbsp;funding had helped Moscow seize the initiative.

Cindy Yeap

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Cindy Yeap

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