IN a span of five months, Top Glove Corp Bhd bought back its own shares for about RM1.42 billion after the share price hit a record high and while cash coffers were expanding fast as it was making supernormal profit.

The aggressive share buyback was jaw-dropping, given the quantum spent...

Top Glove sits on RM860 mil paper loss on massive share buyback 

KNM Group Bhd has a tranche of RM370 million bond that is due this month in Thailand, which could be the first order of business for Tunku Datuk Yaacob Khyra who has joined the board as a non-independent non-executive director.

Tunku Yaacob Khyra joins KNM’s board as RM370m bond payment looms

Panelists at the Malaysian Economic Association (MEA) 2022 Post-Budget Dialogue were mooting for the reinstatement of the Goods and Services Tax (GST) or the inclusion of a similar tax structure under the current tax regime in order to widen the government’s tax revenue base to prepare for turbulent times ahead.

During the session, Centennial Asia Advisors chief executive officer (CEO) Manu Bhaskaran said that there will be a period of “great financial turbulence” for Malaysia and the global economy going forward, as there is bound to be consequences to the extraordinary quantitative easing, printing of money and low interest rates we have seen over the past decade

Malaysia needs GST to weather turbulence ahead, say experts

KUALA LUMPUR (Nov 1): Tropicana Corp Bhd has entered into a joint venture agreement with Puncak Alam Housing Sdn Bhd for the development of affordable homes on three parcels of leasehold land in Ijok, Kuala Selangor.

In a filing with the bourse, the property developer said the agreement was entered into by its wholly-owned subsidiary Tropicana Senibong Sdn Bhd (TSSB), which will secure the development rights for the 363 acres of land parcels from Puncak Alam Housing.

Tropicana collaborates with Puncak Alam Housing for affordable housing project

KUALA LUMPUR (Oct 29): The Malaysian Institute of Certified Public Accountants (MICPA) said it was surprised by the imposition of the one-off prosperity tax on businesses which generate high profits for the Year of Assessment 2022.

Under the proposed tax, profits exceeding RM100 million will be subject to a 33% tax.

Prosperity tax ‘a rather off-tangent initiative’, says MICPA

KUALA LUMPUR (Oct 29): The recovery of businesses is a top priority for the government under Budget 2022, with a host of incentives and assistance schemes to be offered to businesses, especially small-and-medium enterprises (SMEs).

The incentives, aids and tax reliefs to spur business recovery under Budget 2022

The government is expecting its consolidated general revenue to decline by 3.3% to RM282.9 billion in 2021, mainly due to lower revenue from the federal government and federal statutory bodies.

Govt expects 3.3% drop in consolidated general revenue for 2021

The total outstanding government guarantees (GGs) increased 1.9% to RM300.4 billion as at end-June 2021, from RM294.7 billion as at end-2020, amid new issuances by the Public Sector Home Financing Board and DanaInfra Nasional Bhd.

Outstanding govt guarantees rise 1.9% to RM300 billion

A total of RM18.2 billion worth of assets linked to 1Malaysia Development Bhd (1MDB) have been seized or recovered, and placed in the Assets Recovery Trust Account under the custody of the Accountant-General’s Department, the government said.

RM18.2 billion of 1MDB-linked assets seized, recovered

The federal government is expecting its borrowings to swell going forward to fund the RM400 billion development expenditure allocation for the 12th Malaysia Plan (12MP) and its expansionary fiscal policy in Budget 2022.

Federal govt borrows more to fund expansionary budget, 12MP; risk exposure to external shock rises

The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.

Anwar: Putrajaya will keep eye on inflation rate following civil service pay hike

US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.

US private payrolls beat expectations in April 

Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.

KFC parent Yum reports surprise drop in global same-store sales on weak demand

Shell has exited China's power markets as part of CEO Wael Sawan's drive to focus on more profitable operations including its natural gas and oil businesses.

Shell exits China power market businesses

The retail price of RON97 petrol remains unchanged at RM3.47 per litre, with RON95 also unchanged at RM2.05 per litre, from May 2 to May 8, according to the Ministry of Finance on Wednesday.

Fuel prices unchanged till May 8

The dollar edged towards its highest level this year against a basket of peers and US share futures dipped on Wednesday ahead of a Federal Reserve policy decision, though trading was thin with many European and Asian markets closed.

Dollar near five-month highs ahead of Fed policy decision

Bitcoin slid by almost 6% on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later.

Crypto washout sends bitcoin below US$58,000 into bear market

Prime Minister Datuk Seri Anwar Ibrahim has emphasised that any party associating him and the government with a purported casino project in Forest City must face legal action.

Those who spread lies on Forest City casino project ought to be jailed, says PM

Details regarding the salary increase for civil servants will be announced during the tabling of Budget 2025 in October this year.

Details of civil servants’ wage hike to be announced in Budget 2025, says Fahmi 

China's Huawei Technologies has moved the high-profile chief of its consumer business, Yu Chengdong, to a new role as chair of the unit, two people with knowledge of the matter said.

Huawei's high-profile consumer CEO Richard Yu shifts role

Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.

The government will continue to monitor the impact on inflation in the country following the announcement of a more than 13% increase in civil servants' salaries this December.

US private payrolls increased more than expected in April, suggesting that the labor market maintained its momentum early in the second quarter.

WASHINGTON (May 2): Hackers who breached UnitedHealth's tech unit in February potentially stole a third of Americans' data, the largest U.S. health insurer's CEO told a Congressional committee on Wednesday.

Two Congressional panels grilled CEO Andrew Witty about the cyberattack on the c...

Ahmad Naqib Idris

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