Bank Negara Malaysia (BNM) has given banking institutions until end- 2019 to revise “unfair” terms and conditions, and improve clarity by using  plain language for both new and existing housing loan and financing contracts.

BNM tells banks to use plain language in housing loan contracts

Bank Negara Malaysia (BNM) said the monetary value of mobile banking financial transactions doubled to RM100.1 billion last year, with 257.4 million transactions, from RM50.7 billion with 107.7 million transactions in 2017.

Value of mobile banking transactions doubled in 2018

Bank Negara Malaysia (BNM) has found that some terms and conditions in housing loans and financing contracts are disproportionately skewed in favour of banking institutions, to the detriment of consumers.

Unfair housing loan terms to be revised by end 2019

Bank Negara Malaysia (BNM) has classified 2018 as a year that insurance and takaful players proving their resiliency, with profitability for the sector going down in the year.

Insurance industry proves resilient in 2018 despite lower profitability

PETALING JAYA (March 28): Loans for the purchase of residential properties remain the largest component of household debt, representing 52% of total household loans, according to Bank Negara Malaysia’s (BNM) Financial Stability and Payment Systems Report 2017 released today.

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Housing loans make up half of household debt, reflects affordability issues

PETALING JAYA (March 28): The authorities, property developers, owners, and other stakeholders in the real estate sector are urged to come up with specific measures to reduce the severe imbalances in the office and shopping complex segments that threaten the rest of the economy, according to the ...

Stakeholders must collaborate to reduce severe imbalances in the retail, office segments

PETALING JAYA (March 28): The rejection rate of housing applications has declined to below the average rate of about a quarter of all cases, said Bank Negara Malaysia (BNM) in its Financial Stability and Payment Systems Report 2017.

The report stated that the rejection rate of ...

Rejection rate of housing loan applications drops below average, says Bank Negara

KUALA LUMPUR (March 23): Malaysia's household debt-to-gross domestic product (GDP) ratio contracted to 88.4% as at end 2016 from 89.1% in 2015, as households cut loan exposure for purchases of non-residential properties, cars and securities.

Bank Negara said in its 2016 Financi...

Malaysia's 2016 household debt to GDP ratio falls to 88.4% 

KUALA LUMPUR (March 23): Malaysia's household debt-to-gross domestic product (GDP) ratio contracted to 88.4% as at end 2016 from 89.1% in 2015, as households cut loan exposure for purchases of non-residential properties, cars and securities.

Bank Negara said in its 2016 Financial St...

KUALA LUMPUR (March 23):  The greater flexibility provided for the insurance industry to price motor and fire products under the new liberalisation initiative will promote competition, says Bank Negara Malaysia (BNM), adding this in turn will drive improvements in underwriting and claims man...

Premium rates for motor, fire products will be priced fairly over time

KUALA LUMPUR (March 23): The level of household debt-to-gross domestic product (GDP) ratio continued to be elevated at 89.1% amid the more moderate growth in nominal GDP in 2015, according to Bank Negara Malaysia.

"The capacity of households to service debt has however generally remaine...

Household debt-to-GDP elevated at 89.1%

BEIJING (April 29): The chairman of Chinese battery giant CATL Robin Zeng visited Elon Musk's hotel in Beijing on Monday, a day after the Tesla CEO's surprise arrival on a trip expected to involve talks on the rollout of self-driving software.

CATL boss visits Elon Musk's Beijing hotel on Tesla CEO's surprise trip

OpenSys (M) Bhd, which makes automated teller machines, expects a revenue boost from an estimated 3,000 units of cash machines due for replacement in the next three years.

OpenSys expects revenue boost from machine replacements

OSLO (April 29): Norway's US$1.6 trillion sovereign wealth fund, one of the world's largest investors, will support HSBC's proposed bonus policy change for so-called material risk takers (MRTs), the Norwegian fund manager's updated voting intentions showed on Monday.

Norway sovereign wealth fund backs HSBC bonus policy reform

The business reorganisation plan announced last week by the two friends and business partners — Tan Sri Tony Fernandes and Datuk Kamarudin Meranun — is the final piece of the jigsaw to get the group of companies they control back on a stronger footing, at least in the restructuring of their balance sheet.

Frankly Speaking: Best chance for Cap A and AAX

The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to boost the currency that is languishing near 34-year lows.

Japan's yen jumps against the dollar on suspected intervention 

Asian emerging market currencies were subdued on Monday after inflation data in the US further dimmed the prospects of interest rate cuts soon, with all eyes on the Federal Reserve's (Fed) policy meeting later in the week.

Asian currencies subdued, equities gain ahead of Fed decision

KUALA LUMPUR (April 29): Bersatu Information Committee member Badrul Hisham Shaharin, or Chegu Bard, was charged in the Sessions Court here on Monday with two counts of inciting hatred and issuing defamatory remarks which will tarnish the good name of His Majesty Sultan Ibrahim, King of Malaysia.

Chegu Bard charged with making seditious, defamatory remarks

Tesla Inc is set to clear a key hurdle to introduce its advanced assisted driving features in China by partnering with Baidu Inc in mapping and navigation functions, people familiar with the matter said.

Tesla clears key China assisted-driving hurdle with Baidu deal

Three people, including a two-year old boy, died after a Huawei-backed Aito M7 SUV burst into flames following a crash with a truck on a highway in the Chinese city of Yuncheng in the northern province of Shanxi, state media said.

China crash involving Huawei-backed Aito electric vehicle kills three

Shares of YNH Property Bhd surged to their highest in three weeks as investors breathed a sigh of relief after the real estate developer said it has remedied the technical default of its sukuk programme.

YNH Property hits three-week high after default remedy

QSR Brands (M) Holdings Bhd is suspending over 100 KFC outlets temporarily nationwide after about half a year of boycott movement, Nanyang Siang Pau reported, citing information from Google Maps.

Boycott causes over 100 KFC outlets to suspend ops, report says

Berjaya Corp Bhd (BCorp), which last week denied that its founder Tan Sri Vincent Tan Chee Yioun had participated in talks to revive a US$100 billion (RM477.60 billion) Forest City casino resort as reported recently, has lodged reports for the police to commence investigation into the above matter, specifically to, amongst others, ascertain and find out the purported “unnamed source” who disseminated complete untrue and false statements.

Berjaya Corp lodges police report to identify 'unnamed source' in Forest City casino resort debacle

KUALA LUMPUR (April 29): Mercury Securities Sdn Bhd has recommended investors “subscribe” ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value (FV) of 29 sen based on 13x FY2024F earnings per share, translating to 21% upside to IPO price.</...

Mercury Securities advises investors to subscribe ACE Market-bound Farm Price with fair value of 29 sen 

Shares of YNH Property Bhd surged to their highest in three weeks as investors breathed a sigh of relief after the real estate developer said it has remedied the technical default of its sukuk programme.

Real estate developer UOA Development Bhd said it plans to launch two new projects worth an estimated RM2.7 billion in gross development value (GDV) this year.

UOA Development to launch two projects worth RM2.7b by June

When South Korea decided to host a US anti-ballistic missile system, the lucrative flow of tourists from neighboring China suddenly dried up. When Australia accused Beijing of meddling in its domestic politics and demanded answers over the origins of Covid-19, China stopped buying exports like coal, wine and beef.

US ramps up help as countries plan response to China’s bullying

Top Glove Corporation Bhd bagged the Platinum Trusted Brand Award in the Hygiene/Disposable Gloves category at the Reader’s Digest Malaysian Trusted Brand 2024 awards.

China firms go 'underground' on Russia payments as banks pull back

TotalEnergies, a global energy supplier based in France, has stated its commitment to increasing its investment in Malaysia’s upstream oil and gas (O&amp;G) sector, said Prime Minister Datuk Seri Anwar Ibrahim.

TotalEnergies has stated commitment to boost investment in Malaysia's upstream O&G sector — Anwar

Engineering solutions provider Kawan Renergy Bhd on Monday began taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM33 million.

Kawan Renergy sets IPO price at 30 sen apiece in bid to raise RM33m 

Three people, including a two-year old boy, died after a Huawei-backed Aito M7 SUV burst into flames following a crash with a truck on a highway in the Chinese city of Yuncheng in the northern province of Shanxi, state media said.

Shares of Turiya Bhd rallied on Monday to their highest in over three years after Tan Sri Mohan MK Swami and his partner agreed to acquire a 58% stake in the property management firm for RM52.86 million.

Turiya rallies to over three-year high with entry of Mohan Swami, partner

The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to boost the currency that is languishing near 34-year lows.

After eight consecutive weeks of net selling, foreign investors shifted to become net buyers on Bursa Malaysia last week, with a total investment of RM292.2 million.

MIDF: Foreign investors ended eight weeks of selling with total inflow of RM292m last week

RIYADH (April 28): The Asean-Gulf Cooperation Council (Asean-GCC) should find mechanisms to advance trade, investments, collaboration and research, said Malaysian Prime Minister Datuk Seri Anwar Ibrahim.

Asean-Gulf Cooperation Council should find mechanisms to advance trade, investment — Anwar

Once renowned as avid overseas tourists, the Japanese are staying closer to home these days.

Weaker yen keeps Japanese tourists at home while visitors throng

Singapore Telecommunications on Monday forecast non-cash impairment provisions of S$3.1 billion (RM10.8 billion) for second-half of 2024 which would lead to the telecom giant reporting a net loss for the period.

Singtel sees US$2.3b impairment hit, net loss in 2H2024

Asian stocks got off to a positive start on Monday ahead of the Federal Reserve's policy meeting later in the week, while the dollar broke past the psychologically key level of ¥160 for the first time in decades.

Asian shares rise as US Fed looms large; yen crumbles below key level

Malakoff Corp Bhd has inked a partnership with China Northeast Electric Power Engineering &amp; Services Co Ltd (NEPCS) for technical manpower supply for the operation and maintenance (O&amp;M) of combined cycle power plant (CCPP) projects under NEPCS in Bangladesh.

Malakoff inks deal to expand operation and maintenance services to Bangladesh

L’Occitane International SA’s billionaire owner Reinold Geiger is close to making an offer to take the skin-care company private, according to people familiar with the matter, in a deal that could value the firm at about US$7 billion (RM33.4 billion) including debt.

BNM Financial Stability And Payment Systems Report

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BNM Financial Stability And Payment Systems Report

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