* Najib: Malaysia has created 2.26 million jobs, representing 69% of the 3.3 million target by 2020

* Budget 2018 allocates a sum of RM280.25b, up from RM260.8b in 2017

* Per capita income expected to rise to RM42,777 in 2018, from RM40,713 now, says PM

* Federal gov...

Budget 2018 Highlights

KUALA LUMPUR (Oct 31): The measures announced in Budget 2018 will help fuel tourism growth and air connectivity to Malaysia, which will in turn benefit the retail sector, said Malaysia Retail Chain Association (MRCA) president Datuk Garry Chua.

“The RM500 million that is allocated for t...

Budget 2018 measures will help boost retail sector, says MRCA

KUALA LUMPUR (Oct 28): AmBank Research said that Budget 2018 with its emphasis to lower the fiscal deficit to 2.8% of grodd domestic product (GDP) in 2018 from 3.0% in 2017 supported by higher revenue on the back of better-than-expected GDP growth of 5.7% for 2017, should bode well for the capita...

Budget 2018 bodes well for capital market, says AmBank Research 

KUALA LUMPUR (Oct 27):  An economist has called for a reprioritising of expenditure to address the imbalance between the development expenditure and operating expenditure in the country’s Budget.

Socio-Economic Research Centre executive director Lee Heng Guie said that while the fe...

Govt expenditure should be reprioritised, says economist

PETALING JAYA (Oct 27): The National House Buyers Association (HBA) has lauded the government’s move to build more affordable homes. However, it said the government needs to ensure that the homes reach the right target market.

“They must build the right product at the right place with t...

HBA: Affordable housing policy needs to be targeted at the right segment

KUALA LUMPUR (Oct 27): Budget 2018’s  proposals to stimulate the housing rental market could  mark the beginning of a greater focus on the rental market in the near future, according to Laurelcap Sdn Bhd executive director Stanley Toh.

He was commenting on Budget 2018 which wa...

Budget 2018 trains eyes on rental market

KUALA LUMPUR (Oct 27):  Malayan Banking Bhd (Maybank) said measures anounced in Budget 2018 are positive for the consumption, infrastructure, tourism and finance sectors.

"We are happy to see the government continuing with its prudent approach in fiscal management as can be seen by...

Budget 2018 provides positive impetus on consumer spending, say banks

KUALA LUMPUR (Oct 27): The government’s move to allocate RM4.9 billion to implement the Technical and Vocational Education Training (TVET) Malaysia masterplan is a step in the right direction, says the Federation of Malaysian Manufacturers (FMM).

The federation noted that the merger of ...

FMM: TVET Malaysia masterplan is a step in the right direction

KUALA LUMPUR (Oct 27): The banking sector has responded positively to Budget 2018, applauding the central theme on inclusiveness which sees initiatives to address the need to reduce income inequality, narrow the wealth distribution gap and bring socio-economic development to all Malaysians.
...

Focus on rakyat and reducing fiscal deficit welcomed by banks

KUALA LUMPUR (Oct 27): A property industry group says Budget 2018 does not provide any measures to arrest the problems in the real estate market and offers no incentives to assist first time buyers.
 
The Association of Valuers, Property Managers, Estate Agents and Property Con...

Budget offers no incentives to arrest problems in property mart — PEPS

KUALA LUMPUR (Oct 27): Chief Secretary to the Government, Tan Sri Dr Ali Hamsa, has lauded the government in tabling “the most inclusive and comprehensive” national budget, as it strikes a balance between national transformation efforts and Malaysians’ welfare.
 
“[Budget 2018]...

Chief Secretary lauds ‘most inclusive and comprehensive’ Budget 2018

KUALA LUMPUR (Oct 27): The Real Estate and Housing Development Association (REHDA) has hailed the federal government's allocation in Budget 2018 for the middle 40 (M40) and bottom 40 (B40) income groups, and called on state governments to follow Putrajaya's lead in providing more low-income housi...

REDHA urges states to follow Putrajaya's lead by providing more low-income housing options

KUALA LUMPUR (Oct 27): Lembaga Tabung Angkatan Tentera (LTAT) said it is encouraged by Budget 2018’s focus on strengthening government-linked companies (GLCs) and government-linked investment companies (GLICs), from the perspective of building human capital.

Its chief executive Tan Sri ...

LTAT: Budget 2018 incentives will enhance productivity of those working for GLCs and GLICs

KUALA LUMPUR (Oct 27): Penang Chief Minister Lim Guan Eng questioned if the goods and services tax (GST) rate would be raised in the coming years.

"We want to know if the government is maintaining the GST or is it going to raise it in three to four years. Singapore increased it to 7% af...

Will GST rate be raised in three to four years, Guan Eng asks

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

Awantec, Innature, Paramount, Eco World International, Mi Technovation, MAA, KNM, Pharmaniaga, Jiankun, Nova MSC, Sarawak Cable

Jiankun International Bhd (KL:JIANKUN) has redesignated its president Datuk Saiful Nizam Mohd Yusoff as non-independent and non-executive chairman, effective Friday.

Jiankun redesignates Zahid’s son-in-law Saiful Nizam as chairman 

KUALA LUMPUR (May 10): Bursa Malaysia Bhd expects strong equities market performance in 2024, attributed to positive news on foreign direct investment (FDI), notably Microsoft’s US$2.2 billion investment in a cloud and AI hub.

Bursa sees equities market strengthening in 2024 on FDI inflows; optimistic of hitting IPO targets

Sarawak Cable Bhd says it has identified "a strong alternative party" who is interested in spearheading a resuscitation plan for the group, after its plan to regularise its financials with the help of UK-based Serendib Capital Ltd fell through.

Sarawak Cable says it has 'strong' backup after losing Serendib Capital as white knight

Malaysia is ready to continue strengthening relations with Singapore under incoming prime minister Lawrence Wong, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia ready to strengthen ties with Singapore under new PM Wong, says Anwar  

US stocks rose on Friday, as investors eagerly awaited comments from Federal Reserve officials to get more clarity on the US monetary policy path, after economic data this week supported bets of interest rate cuts.

Wall Street gains ahead of Fed officials' remarks; Dow nears 40,000 mark

KUALA LUMPUR (May 10): Ajiya Bhd (KL:AJIYA) has entered into a loan agreement with Chin Hin Group Bhd (Chin Hin)(KL:CHINHIN) to provide a loan of up to RM250 million to Chin Hin.

Ajiya to loan Chin Hin RM250m for acquisition, expansion plans

Muar Member of Parliament (MP) Syed Saddiq Syed Abdul Rahman has filed an application seeking temporary release of his passport to enable him to travel to Singapore and Taiwan.

Syed Saddiq seeking temporary release of passport to travel to Singapore, Taiwan

KUALA LUMPUR (May 10): Genting Singapore Ltd reported on Friday that its earnings for 1QFY2024 had nearly doubled than that of the year earlier.

Genting Singapore nearly doubles 1Q earnings thanks to China-Singapore visa-free travel

BCM Alliance Bhd’s (KL:BCMALL) largest shareholder Kiu Cu Seng has disposed of his entire shareholding of 305.12 million shares, or a 15% stake, in the company.

BCM Alliance’s largest shareholder sells off 15% stake bought via ESOS

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

KUALA LUMPUR (May 10): Datin Seri Rosmah Mansor faces another legal action, this time revolving around from 1Malaysia Development Bhd (1MDB), SRC International Sdn Bhd and subsidiaries over luxury goods that were allegedly obtained through misappropriated funds.

1MDB, SRC file fresh civil suit against Rosmah over US$350 mil luxury goods

KUALA LUMPUR (May 10): Paramount Corp Bhd (KL:PARAMON) bought a 21.54% stake in Eco World International Bhd (EWI)(KL:EWINT) for RM170.61 million in cash.&nbsp;

Paramount buys 21.5% stake in Eco World International from Quek Leng Chan for RM170.61m, cash

With signs of a simmering settlement with the government in one of the longest-standing civil land disputes in history dissipating, the Court of Appeal (COA) has fixed Sept 19 to hear the appeal by Semantan Estate (1952) Sdn Bhd in its seven-decade dispute over 263.272 acres of land along Jalan Duta that is currently occupied by public properties.

No settlement in sight, Semantan Estate’s appeal to resume in September

Bank Negara Malaysia (BNM) imposed a RM96,250 compound on Habib Jewels Sdn Bhd for non-compliance with the law on anti-money laundering and counter-terror financing.

BNM slaps Habib Jewels with RM96,250 compound for failing to report suspicious transactions

Shares of Sungei Bagan Rubber Co (Malaya) Bhd (KL:SBAGAN) rose as much as 76 sen or 15.29% to a new record high on Friday, following news a privatisation bid for Great Eastern Holdings Ltd, in which it owns a 1% stake.

Sg Bagan shares jump 15% to record high on Great Eastern privatisation bid

SINGAPORE (May 10): Oversea-Chinese Banking Corporation Ltd (OCBC) has announced a S$1.4 billion voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own.

Singapore’s OCBC makes privatisation bid for Great Eastern with S$25.60 offer price

KUALA LUMPUR (May 10): Bursa Malaysia Securities Bhd (Bursa Securities) on Friday lifted AwanBiru Technology Bhd (KL:AWANTEC), formerly Prestariang Bhd, from its status as an affected listed issuer, after three years.

Bursa lifts Awantec from affected issuer status after three years

KUALA LUMPUR (May 10): Personal care products retailer Innature Bhd (KL:INNATURE) said on Friday that it is acquiring the operator of Burger &amp; Lobster restaurants for RM21.25 million in a related-party deal as part of a diversification plan.

Innature to acquire Burger & Lobster operator for RM21.25m from major shareholders

KUALA LUMPUR (May 10):&nbsp; <a href="https://theedgemalaysia.com/" target="_blank">theedgemalaysia.com</a> highlighted three stocks with positive momentum and five stocks with negative momentum at Bursa Malaysia’s afternoon close on Friday. &nbsp;

Kuchai, VSTECS, AHB, Mclean, Kluang, Prtasco, Skywld, Kobay

Elon Musk touted plans to expand Tesla Inc’s Supercharger network just over a week after firing almost all of the roughly 500 people who ran the business.

Elon Musk changes tune on Tesla Superchargers after mass firing

KUALA LUMPUR (May 10): Genting Singapore Ltd reported on Friday that its earnings for 1QFY2024 had nearly doubled than that of the year earlier.

Tan Sri Azam Baki's contract as chief commissioner of the Malaysian Anti-Corruption Commission has been extended for another year, starting&nbsp;this Sunday (May 12).

Azam Baki’s contract as MACC chief commissioner extended for another year

KUALA LUMPUR/MUMBAI (May 10): Malaysia’s palm oil stocks increased at the end of April for the first time in six months, as production jumped despite a drop in exports, the industry regulator said on Friday.

Malaysia’s palm oil stocks surge as output jumps despite weak exports

Malaysia’s industrial output rose at a faster-than-expected pace in March from a year earlier with the manufacturing sector leading broad gains, the Department of Statistics Malaysia (DOSM) said on Friday.

Malaysia's industrial output grows faster-than-expected in March, official data shows

CelcomDigi Bhd has completed 44% of its nationwide network integration and modernisation&nbsp;programme as it modernised over 7,200 sites as at end-April, leading to improved download speeds of 20% to 26% and better signal strength of 13% to 16% in post-consolidation areas.

CelcomDigi completes 44% in nationwide network modernisation programme

Supermax Corp Bhd’s (KL:SUPERMX) plan to take full control of its loss-making Canadian unit will drag on its balance sheet and income statement, Kenanga Investment Bank flagged.

Supermax's full acquisition of Canadian unit will drag on earnings — Kenanga

Automotive cover and seat manufacturer Feytech Holdings Bhd (KL:FEYTECH) said on Friday that investors have snapped up all the 42.16 million shares it made available for application by the public in its initial public offering, ahead of its Main Market debut.

Main Market-bound Feytech Holdings' IPO oversubscribed 15.6 times

<h3>Directors’ duties with respect to&nbsp;financial statements</h3>

In 2011, in the case of Australian Securities and Investments Commission v Healy &amp; Ors, the Federal Court of Australia delivered an important ruling and laid down important principles of law on the standard of care for th...

My Say: Court rulings on chairperson’s and directors’ duties raise cautions for holders of these posts

Malaysia should move faster to build a robust ecosystem to drive the development and adoption of artificial intelligence (AI) technology in the current post-normal era, said Prime Minister Datuk Seri Anwar Ibrahim.

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