KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

MOF: Meeting with 70 fund investors highlights Madani govt’s action to spur strategic investments

KOTA KINABALU (April 24): The Sabah government has a deficit of almost RM1 billion to carry out road repairs and maintenance works in the state, the state assembly sitting was told on Wednesday.

Sabah govt has a deficit of almost RM1b for road repairs, maintenance

Malaysian automotive companies may see earnings decline this year as sales dip and operating costs rise amid the emergence of several Chinese brands offering attractive pricing, analysts cautioned.

M'sian automakers expected to feel pinch from lower sales, higher costs, and rise of Chinese OEMs

Malaysia is currently working on a free trade agreement (FTA) with the European Union (EU), according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, after initial negotiations between the two parties reached an impasse about 12 years ago.

Malaysia-EU FTA back on the table, says Zafrul

Malaysia's trade with China rose 3% year-on-year (y-o-y) in the first quarter of 2024 (1Q2024), following a better-than-expected gross domestic product (GDP) growth seen in the world's second largest economy during the quarter, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Malaysia-China trade improved amid republic's better-than-expected 1Q growth, says Zafrul

The potential imposition of plain packaging for cigarette and vape products, together with a ban on the display of such products in stores, will incur a "huge financial burden" on privately owned sundry shops, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).

Potential ban on display of cigarettes, vape products will burden retailers, on top of proposed plain packaging — sundry goods merchants

Taiwan President Tsai Ing-wen said on Wednesday she was happy the US Congress had passed a sweeping foreign aid package which includes arms support for the island, as China urged Washington to stop selling weapons to Taipei.

Taiwan happy with US aid package, China objects to arms sales

Chinese developer Country Garden Holdings Co, one of the biggest symbols of the nation’s broader property debt crisis, won approval to push back payments on three yuan bonds, people familiar with the matter said, staving off its first local default for now.

Country Garden extends bonds to avoid first local default, Bloomberg reports

The People’s Bank of China (PBOC) ramped up its verbal pushback against the rally in long-term government bonds, warning of a reversal and hinting that a mismatch between market prices and the economic outlook will be corrected.

PBOC warns of rally in long-end government bonds

Thailand's 500 billion baht (RM64.6 billion) handout scheme aims to reach the wider population and boost the overall economy through stimulus, a finance official said on Wednesday, responding to central bank recommendations it be targeted towards the poor.

Thailand's US$13.5b handout aims to boost overall economy, not geared to poor, official says

COLOMBO (April 24): Iran's President Ebrahim Raisi arrived in Sri Lanka on Wednesday for a brief state visit aimed at strengthening ties, during which he will also open a US$514-million hydropower project.

Iran's Raisi arrives in Sri Lanka to foster ties, open hydropower project

BMI, a Fitch Solutions company, holds a cautious but positive outlook for consumer spending in Malaysia over 2024, as the economic recovery feeds through to strong real consumer spending growth over the full year.

BMI holds a cautious but positive outlook for consumer spending in Malaysia over 2024

KOTA KINABALU (April 23): The Kibing Group has successfully exported its inaugural batch of solar glass manufactured in Sabah, totalling 672 tonnes, to Cambodia last Sunday (April 21).

Kibing Group exports 672 tonnes of Sabah’s first batch of solar glass to Cambodia

KOTA KINABALU (April 23): A total compensation of RM651 million has been paid to 1,591 landowners and stakeholders involved in the construction of the Pan Borneo Highway project in Sabah.

RM651 mil compensation paid to landowners involved in Sabah’s Pan Borneo Highway

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

MYAirline loses licence to operate as commercial airline as CAAM revokes AOC

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

YNH aborts sale of Segambut land, appoints Chin Hin Group Property to develop it instead

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.

TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.

CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

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

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sepangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.

Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.

High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

In today’s edition of Evening 5: 00:00 MYAirline loses licence to operate 01:41 New developments, new board to be announced for DNB 02:59 Fernandes to be CEO of Capital A for five more years 04:09 ACE Market-bound Farm Price eyes Singapore expansion05:33 Suria KLCC shrugs off the competition

EVENING 5: MYAirline runs out of time, loses licence to operate

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 24)

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

JASMINE Loo was the third individual wanted by the authorities, on the Interpol Red Notice list, &nbsp;to return to Malaysia.

More than 10 years on from the first signs of trouble at 1Malaysia Development Bhd (1MDB), there are still a number of individuals who remain on the run, sought ...

Most yet to return to face the music

Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.

Carlsberg Malaysia raises prices of beers to preserve margin

French electronic manufacturing service firm eolane has launched a new manufacturing plant in Kulim Hi-Tech Park, Kedah involving an investment of €8.7 million (RM45 million) for the first phase of the project.

France-based eolane launches RM45 mil facility in Kulim Hi-Tech Park

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

Bursa Malaysia closed at a two-year high on Wednesday with the key index rising 0.63%, driven by a positive outlook on the local bourse and amid an upbeat performance by regional peers.&nbsp;

Bursa races to two-year high as investors turn bullish

OYO plans to add 100 self-operated hotels in Malaysia in 2024 and will be looking to secure annual to long-term management contracts on a revenue-sharing basis for these properties. This is part of OYO's programme aimed at fostering economic growth in communities via partnerships.&nbsp;

OYO plans to launch 100 self-operated hotels in Malaysia for 2024, with the first in Kota Damansara

The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.

Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by Bloomberg News.

Chinese metal tycoon’s heir buys US$62m Singapore mansion

Mah Sing Group Bhd's land acquisition for its third development in Setapak,&nbsp;Kuala Lumpur, namely M Azura, has become unconditional. The developer has three months to pay the balance purchase price of about RM59 million. The land for M Azura was acquired on Dec 8, 2023 for a total cost of RM74.3 million.

Mah Sing's land acquisition for M Azura has become unconditional

Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.

World’s biggest energy traders are returning to metals

KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.

Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London&nbsp;has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

Perlis Menteri Besar&nbsp;Mohd Shukri Ramli confirmed that he knew about his son being arrested by the Malaysian Anti-Corruption Commission (MACC),&nbsp;and will leave it to the authorities to complete their investigation.

Perlis MB knows about son's arrest, leaves it to MACC to investigate

KUALA LUMPUR (April 24):&nbsp;Petronas&nbsp;Chemicals Group Bhd&nbsp;is focused on advancing its growth initiatives and strengthening its operational performance, despite the expectation that 2024 will continue&nbsp;to be a challenging year.

Petronas Chemicals to focus on advancing growth initiatives, strengthening operational performance

KLCCP Stapled Group, controlled by national oil and gas company Petroliam Nasional Bhd, said on Wednesday that it is still actively pursuing and exploring opportunities.

KLCCP Stapled Group on active lookout to expand portfolio

Hibiscus Petroleum Bhd said it has completed the drilling of the Bunga Aster-1 exploration well and is expecting its first oil production to begin in May.

Hibiscus Petroleum completes drilling at Bunga Aster-1 well, first oil production set for next month

More than a year since China reopened its borders, some 63% of its residents say they’re ready to return to exploring the world, according to a survey published on Wednesday, which Bloomberg previewed. They plan to venture farther afield than previously, with just 10% spurning international travel altogether— a significant shift from a year ago, when more than half of China’s consumers said they had no plans to go abroad and 31% said they weren’t even interested.

Chinese tourists are again embracing international travel in 2024

ACE Market-bound Farm Price Holdings Bhd said it intends to expand in Singapore, leveraging the strengthening Singapore dollar against the ringgit for increased market advantage while anticipating a rise in regional demand.

Farm Price eyes Singapore expansion, bolstered by stronger dollar, rising demand

Suria KLCC's established reputation as a premier shopping destination has set it apart from other malls in the same vicinity, which provided it an effective buffer against new competition, according to KLCCP Stapled Group chief executive officer Datuk Md Shah Mahmood.

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