KUALA LUMPUR (Oct 21): The Transport Ministry (MoT) is happy that its allocation has been increased by 13% in Budget 2017, said minister Datuk Seri Liow Tiong Lai.

The additional funds is mainly for development purposes, he told reporters while leaving Parliament after Budget 2017 was a...

Transport Ministry to buy more trains after getting bigger allocation

KUALA LUMPUR (Oct 21): An opposition parliamentarian has accused the government of being over-optimistic about the economy in Budget 2017.

Liew Chin Tong , the DAP MP for Kluang, said the Budget did not address significant challenges that Malaysia is facing amid the global economic slow...

Opposition MPs say PM over-optimistic about the economy

To view the Prime Minister's entire speech, click here

* Budget 2017's allocation stands at RM260.8 bil; is up 3.4% from recalibrated Budget 2016

...

Budget 2017 Highlights

To view the Prime Minister's entire speech, click here

* Budget 2017's allocation stands at RM260.8 bil is up 3.4% from recalibrated Budget 2016

...

KUALA LUMPUR (Oct 21): The special fund of up to RM3 billion, to be allocated by government-linked investment companies (GLICs) to licensed fund managers for investments into small and mid-cap firms, will improve market transactions and banks’ non-interest income, said Ambank Group chairman Tan S...

AmBank: RM3b special fund for small, mid-cap investments will boost banks non-interest income

KUALA LUMPUR (Oct 21): Penang Institute, the Penang government’s think tank, said a balanced Budget is unlikely to be achieved in the foreseeable future due to the large civil service expenditure.

Budget 2017 has a total allocation of RM260.8 million, up 3.4% from the Recalibrated Budge...

Large civil servant outlay will hamper balancing of Budget, says Penang think tank

KUALA LUMPUR (Oct 21): An economist said the emphasis on expenditure allocations in Budget 2017 belied Prime Minister Datuk Seri Najib Razak’s dismissal of talks earlier that it would be an election budget.

“Although Najib dismissed talks of this being an election budget, the emphasis o...

Budget 2017: An election budget it is, says economist

KUALA LUMPUR (Oct 21): Franklin Templeton Investments said infrastructure development projects will benefit the economy and people (rakyat), if it is "targeted and transparently distributed".

Franklin Templeton Investments executive director and head Malaysia fixed income and sukuk, Han...

Franklin Templeton: Infrastructure development to benefit the economy & people if transparently distributed

Malaysia's Budget 2017: An election budget it is, says economist

KUALA LUMPUR (Oct 21): Uber Malaysia today deemed the government's initiative to assist the Bottom 40 (B40) group to participate as ride-sharing drivers under Budget 2017, as "a clear win for the ridesharing industry and [which also] shows forward-thinking leadership".

Under the budget,...

Uber sees Budget 2017 initiative a 'clear win' for ridesharing industry

KUALA LUMPUR (Oct 21): The establishment of the Collection Intelligence Arrangement (CIA) under the Ministry of Finance (MOF) is expected to decrease potential tax evasion by companies.

The setting up of the CIA, which consists of the Inland Revenue Board (IRB), Royal Malaysian Customs ...

Experts: Time’s up for tax evaders with the establishment of CIA

KUALA LUMPUR (Oct 21): The Federation of Malaysian Manufacturers (FMM) welcomes the incentives for the development of small and medium enterprises (SMEs) in Budget 2017, but expressed disappointment that more funds had not been allocated to the sector’s growth.

“FMM welcomes the numerou...

FMM: More funds should have been allocated to develop SMEs

KUALA LUMPUR: The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) is concerned that there is only a 2.22% increase in the development expenditure in Budget 2017.

Its president Datuk Ter Leong Yap said there should have been a higher allocation for development e...

ACCCIM: Govt should have allocated more money for development

KUALA LUMPUR (Oct 21): Khazanah Nasional Bhd said Budget 2017 balances growth, fiscal stability and improving living standards for the Bottom 40 (B40) group of Malaysian households.

Khazanah managing director Tan Sri Azman Mokhtar said the fund is committed to deliver on the initiatives...

Khazanah: Budget 2017 balances growth, fiscal stability and better B40 living standards

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

Honda Motor Co will spend C$15 billion (US$11 billion or RM52.54 billion) to build out its electric vehicle (EV) supply chain in Canada, with billions of dollars of financial aid from government, as the Japanese automaker seeks to tap long-term demand in the region.

Honda to spend US$11 bil on EV strategy in Canada

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

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

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

US growth may get revised up, inflation will ebb

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

CGS International has cut its earnings estimate for Inari Amertron Bhd as recent data flagged weakened smartphone demand, according to its research note on Thursday.

CGS International cuts Inari Amertron earnings forecast on weak smartphone demand

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

In today’s edition of Evening 5: 00:00 EPF unveils the details of flexible Account 3 02:07 AAX to buy Capital A’s airline business for RM6.8 bil 03:47 DNB adds five new members to its board 04:58 PM denies claims about a Forest City casino 05:51 Pantech mulls listing two subsidiaries

EVENING 5: EPF unveils the details of flexible Account 3

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.

Chin Teck’s 2Q net profit up sevenfold

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.

MKH Oil Palm posts RM16 mil net profit in 2Q, q-o-q up 44% ahead of Main Market listing

Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.

Nasdaq-listed TTM Technologies invests RM958 mil for manufacturing plant in Penang

Practice Note 17 (PN17) company Khee San Bhd will increase the allotment underwritten in its proposed rights issue after Ng Meng Kee ceased to be a substantial shareholder and requested to discharge his undertaking.&nbsp;

Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking

Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless &amp; Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).

Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.

Pantech mulls listing two subsidiaries on Main Market via SPV

ViTrox Corp Bhd saw its net profit nearly halved for the financial quarter ended March 31, 2024 (1QFY2024), primarily due to unfavourable product mix and higher research and development (R&amp;D) expenditures to support the introduction of new products.

ViTrox 1Q’s net profit nearly halved, extending declining profits to five quarters

Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya

The newly constituted board of Digital Nasional Bhd (DNB) will convene a meeting soon to review due diligence findings and address the remaining conditions precedent in the share subscription agreements (SSAs), said Digital Minister Gobind Singh Deo.

DNB's new board to review due diligence findings, finalise share subscription agreements soon — Gobind

While March’s headline inflation of 1.8% year-on-year (y-o-y) came in slightly lower than consensus expectations of 2%, economists are maintaining their projection that Malaysia's headline inflation will progressively accelerate towards the end of the year on account of the government's fuel subsidy rationalisation plan, utility tariff hikes, and its recent adjustments of the service tax.

Inflation to pick up soon on fiscal consolidation measures after weaker-than-expected March print — economists

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

Pavilion Real Estate Investment Trust (PavREIT) reported that its first quarter net property income (NPI) jumped 33.2% year-on-year, thanks largely to contribution from its newly acquired mall, Pavilion Bukit Jalil. The increase was also attributed to higher occupancy rates and higher revenue rent from its other retail malls.

PavREIT’s 1Q NPI jumps 33%, pays 2.48 sen distribution per unit

US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.

US economic growth slows more than expected in first quarter

KUALA LUMPUR (April 25): The Companies Commission of Malaysia (SSM) expects more companies to utilise the new corporate rehabilitation framework introduced by the Companies (Amendment) Act 2024, which came into force on April 1.

SSM expects more companies to utilise new corporate rehabilitation framework

The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.

Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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EVENING 5: Five things you need to know today

KUALA LUMPUR (April 25): HeiTech Padu Bhd targets&nbsp;stronger earnings growth after returning to profitability for the financial year ending Dec&nbsp;31, 2023 (FY2023), amid greater competition.

HeiTech Padu targets stronger earnings growth after returning to black in 2023

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

KUALA LUMPUR (April 25): Atlan Holdings Bhd’s net profit fell over 42% to RM5.07 million or two sen per share, from RM8.75 million or 3.45 sen per share in the fourth quarter ended Feb 29, 2024 (4QFY2024), as increased revenue was more than offset by higher operating expenses, depreciation and amortisation, as well as finance costs.

Atlan Holdings’ 4Q earnings came in lower despite higher revenue

PARIS (April 25): French President Emmanuel&nbsp;Macron&nbsp;appealed on Thursday for stronger, more integrated European defences and said the continent must not become a vassal of the United States, as he&nbsp;outlined&nbsp;his vision for a more assertive European Union (EU)&nbsp;on the global stage.

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