<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 20): Deputy Finance Minister Datuk Chua Tee Yong appeared to defend 1Malaysia Development Bhd today, saying "some" companies also required an extension for their loan repayments.</p></div>

<div class=newsTextDataWrapInner><p>Asked to comment on reports that the 100%-owned sovereign wealth fund of the Finance Ministry was seeking a third extension to repay its RM2 billion loan, he said if banks were to grant the extension, it would reflect the banks’ confidence in 1MDB.</p></div>

<div class=newsTextDataWrapInner><p>“For banks to allow (an) extension, this also shows that they have a certain confidence in the company,” he told reporters, after opening the Malaysian Business Student Summit 2015 at Universiti Malaya’s Faculty of Business and Accountancy.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Every company has its proper way of financing structure. Some companies also require an extension (to repay loans),” he added.</p></div>

<div class=newsTextDataWrapInner><p>News report had it that 1MDB is seeking a third extension to repay its RM2 billion loan, that was originally due on Nov 30, 2014.</p></div>

<div class=newsTextDataWrapInner><p>The third extension is being sought to allow time for the investment company to sell a stake in its energy unit, the news report stated.</p></div>


KUALA LUMPUR (Jan 20): Deputy Finance Minister Datuk Chua Tee Yong appeared to defend 1Malaysia Development Bhd today, saying "some" companies also required an extension for their loan repayments.

Asked to comment on reports that the 100%-owned sovereign wealth fund of the Finance Minis...

Chua defends 1MDB, says banks’ extension on its loan shows confidence in the company

Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst.

Bursa ends morning session lower along with regional peers

CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.

CIMB says CEO Abdul Rahman Ahmad stepping down on June 30

[Branded] The palm oil industry, often vilified by Western lobbyists, has made great strides in the environmental, social, and corporate governance (ESG) arena. Malaysian Palm Oil Council (MPOC) chief executive officer Belvinder Kaur Sron explains how sustainability and palm oil are intertwined.For inquiries or to learn more about MPOC’s sustainability initiatives, visit https://www.mpoc.org.my/ or contact MPOC directly by calling 603-7806 4097 or emailing wbmaster@mpoc.org.my

Can sustainability and palm oil go hand in hand?

Shares of EP Manufacturing Bhd (EPMB) climbed on Tuesday and set for its best day in 10 months after the auto parts maker signed a 10-year vehicle assembly deal with a Chinese carmaker.

EP Manufacturing shares set for best day in 10 months after assembly deal

Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (CoA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.

Muhyiddin seeks five-judge bench to hear criminal charges review

China's economy grew faster-than-expected in the first quarter, data showed on Tuesday, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt.

China's 1Q GDP growth solid but March data shows feeble demand

German Chancellor Olaf Scholz said he would raise trade, the war in Ukraine and climate issues as talks with Chinese leader Xi Jinping started in Beijing, underscoring the growing list of topics the two sides have to address.

Scholz says he will raise trade rules, Ukraine in talks with Xi

New home prices in China fell at their fastest pace in more than eight years in March as the debt woes of major property developers continued to drag on demand and the economic outlook.

China's new home prices decline at fastest pace since 2015

KUALA LUMPUR (April 16): Former prime minister Datuk Seri Najib Razak's appeal to recuse judge Datuk Collin Lawrence Sequerah in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial will be heard in August.

The appellate court has set Aug 20 to hear the matter following a case manag...

Najib's appeal to recuse judge in 1MDB-Tanore trial set for Aug hearing

KTI Landmark Bhd (KTI) has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement on Tuesday, the Sabah-based integrated property developer said the initial public offering (IPO) comprises a public issue of 160 million new shares and an offer for sale of 45 million existing shares, representing 20% and 5.6% of the enlarged share capital of KTI respectively.

KTI Landmark inks underwriting deal with M&A Securities en route to ACE Market listing

<p>The collective wealth of tycoons listed on the 2024 Forbes Malaysia Rich List increased by a modest 2% to US$83.4 billion (RM398.8 billion), according to <i>Forbes Asia</i>.</p>


Wealth of Malaysia’s 50 richest individuals on Forbes list rises 2% — Forbes Asia 

<p>Asian stocks fell and the dollar climbed to more than five-month highs on Tuesday as stronger-than-expected US retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year.</p>


Asian shares slide on US rate cut rethink; China GDP beats estimates 

<p>China said it believed Iran could "handle the situation well and spare the region further turmoil" while safeguarding its sovereignty and dignity, referring to an attack on Iran's embassy in Syria and its retaliatory strike over the weekend.</p>


Iran able to 'handle situation' and spare Middle East more tension, China's foreign minister says

<p>Singapore’s Prime Minister Lee Hsien Loong is stepping down on May 15 after two decades in office. Lee, 72, will hand the reins over to his deputy Lawrence Wong, 51, in a widely-telegraphed transition.</p>


What observers are saying as Singapore’s Lee paves way for next PM Wong

<p>E-government services providers MyEG Services Bhd and Heitech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.</p>

<p>According to separate bourse filings from both companies on Tuesday, MyEG and Heitech Padu have inked a teaming agreement for the collaboration.&nbsp;</p>


MyEG, Heitech Padu form partnership to collaborate on IT projects

<p>RHB Retail Research said Cosmos Technology International Bhd has confirmed a bullish setup after breaking past a key resistance on strong volume.</p>


Cosmos Technology has confirmed bullish setup, says RHB Retail Research 

<p>Alliance Bank Malaysia Bhd’s (ABMB) net profit is expected to jump by 37.3% year-on-year (y-o-y) to RM179 million for the fourth quarter ended March 31, 2024 (4QFY2024), according to AmInvestment Bank Research.</p>


AmInvestment sees Alliance Bank’s 4Q earnings jump by 37% y-o-y

<p>The automotive industry is not exactly the place one would want to be in the next few years.</p>

<p>Competition among manufacturers of internal combustion engine vehicles, battery electric vehicles (EVs) and hybrid cars has been ongoing for more than a decade now. Last year, some certainty fin...

Alternative Views: Automotive industry feels heat from intensifying EV price war

<p>RHB Retail Research said Notion VTec Bhd is looking to extend upside movement after staging a bullish breakout.</p>


Notion VTec aiming to extend upside movement — RHB Retail Research 

<p>There is "no urgency" to cut US interest rates, Mary Daly, the president of the San Francisco Federal Reserve Bank, said on Monday, with the economy and labour market strong, and inflation still above the Fed's target of 2%.</p>


US Fed should not act urgently to cut rates unless required, Daly says

<p>The recent attack by Iran on Israel represents a dangerous expansion of the Israel–Hamas war and raises the risk of a sharp escalation of the conflict, according to S&amp;P Global Ratings.</p>


S&P: Medium-term trajectory remains fraught with risk after recent attack by Iran on Israel

<p>US stocks closed sharply lower on Monday, as an early lift from a strong retail sales report succumbed to a jump in Treasury yields and concerns about rising geopolitical tensions between Iran and Israel.</p>


Stocks close lower as Middle East tensions, Treasury yields weigh

<p>Bursa Malaysia opened lower on Tuesday, taking a cue from the negative developments on Wall Street overnight due to escalating tensions in the Middle East, coupled with persistent inflation in the US as indicated by stronger-than-expected March retail sales.</p>


Bursa tracks weaker Wall Street showing to open lower 

<p>The ringgit opened lower against the US dollar for the second consecutive day on Tuesday as the greenback strengthened following robust US retail sales data for March, said an analyst.</p>


Ringgit opens lower against dollar on strong US retail sales data 

<p>Mark Zuckerberg won his bid to avoid personal liability in about two dozen lawsuits accusing Meta Platforms Inc and other social media companies of addicting children to their products.</p>


Zuckerberg avoids personal liability in Meta addiction suits

<p>JPMorgan Chase &amp; Co chief executive officer Jamie Dimon, who announced plans last year to sell one million shares in the lender, sold almost US$33 million (RM157.8 million) of stock on Monday, bringing his total sales to that level.</p>


Jamie Dimon finishes million-share sale announced last year

<p>Oil prices rose on Tuesday amid heightened tensions in the Middle East after Israel's military chief said his country would respond to Iran's weekend missile and drone attack amid calls for restraint by allies.</p>


Oil prices rise as Israel weighs response to Iran attack

<p>Carlo Rino Group Bhd has filed for an initial public offering (IPO) that would raise more funds for the apparel company as part of its listing transfer to the ACE Market from the LEAP Market.</p>


Carlo Rino files draft prospectus for listing transfer to ACE Market

<p>Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 5% rise in first-quarter profit on Thursday thanks to strong demand.</p>


TSMC first-quarter profit expected to rise 5% on strong AI chip demand

<p>Just a few months ago, life as a Paramount Global bondholder was pretty good.</p>
