Very few countries get a second chance; fewer still get a potential massive upswing thanks to the confluence of very major generational global shifts. If Malaysia gets its strategies and policies right this time, and builds a new broad-based political, social and economic consensus that has elude...

My Say: Malaysia’s second chance

The polycrisis of the pandemic, geopolitical tensions and wars, financial instability and climate change makes it difficult for the steel industry to chart its future. At the recent Malaysian Iron and Steel Industry Federation (MISIF) forum on “Navigating global market dynamics for a sustainable ...

My Say: The future of Malaysia’s steel industry

There is a need to rethink cities and housing as Malaysia embarks on a new mission. I would like to touch on three major points on how we should move away from the Garden City idea of separating where we live and where we work. We should bring Malaysians back into the cities.

The garde...

My Say: Bringing Malaysians back to the cities

The launch of “Mobilising Investments for Clean Energy in Malaysia: Community Report” is an important milestone not only for sovereign fund Khazanah Nasional Bhd’s framework for its own investment strategies, given its significance across the government-linked investment company (GLIC)/government...

my Say: Mobilising investments for the green transition

Let me begin with a small but meaningful change instituted by the Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad on batik and building temperature. Yes, wearing batik to work.

In the early weeks of Datuk Seri Anwar Ibrahim’s premiership, he surprised t...

My Say: Green transition as a new investment opportunity

A fresh look at how the immense potential of Greater Johor Baru, also known as the Iskandar region, would serve as the catalyst for Malaysia’s second economic take-off. Greater Johor Baru should be positioned as the nation’s second metropolitan region after the Klang Valley and, to achieve this e...

My Say: Greater Johor Baru as the second metropolitan region

Malaysia’s manufacturing sector is sometimes marked by bizarre contrasts. On the one hand, it is the principal driver of the country’s trade and investment, making up 84% of total exports and 66% of net inflows of foreign direct investment in 2022. Yet, the median wage in the sector is just RM1,9...

My Say: Rethinking manufacturing for a second economic take-off

FOR Malaysia to hold its social fabric coherently, and, more narrowly, for the Unity ticket to win the 16th general election, economic policies must be shaped to result in general prosperity from the bottom up. A clear economic message has emerged from the recent six state elections: the nation’s precariat class voted against the economic establishment.

Governing for the precariat

LABOUR crunch seems to feature prominently in the conversation among employers, even after the government has relaxed restrictions on hiring foreign labour. Employer organisations are even talking about prisoners and refugees as potential workers.

Paying more to avert the labour crunch in Malaysia

Labour is finite, especially in the context of Malaysia which has not had a demographic dividend since two decades ago. Malaysian employers and policy makers need a paradigm shift to invest in productivity and to be willing to pay for skills.

Critical shifts needed in Malaysia’s economic thinking

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

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

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

(April 26): HSBC Holdings Plc successfully fought off a London court claim brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 26): KPJ Healthcare Bhd, through its premier educational institution KPJ Healthcare University (KPJU), has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

In today’s edition of Evening 5: 00:00 Merger of airlines enough to reverse negative equity - Fernandes 02:16 Govt set to unveil second 5G network next week  03:26 Unisem’s 1Q hit by margins, forex 04:30 Berjaya Corp denies Forest City casino talks   05:30 Homeritz’s 2Q earnings spike on stronger greenback

EVENING 5: Merger of airlines enough to reverse negative equity - Fernandes

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

The Inland Revenue Board (IRB) on Friday announced that the deadline for taxpayers to submit Form E and CP8D has been extended to May 31.

Deadline to submit Form E, CP8D extended to May 31, says IRB

Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.

Berjaya Corp denies participation in talks to revive Forest City casino resort

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

The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.

Merger of airlines alone enough to reverse all of Capital A's negative equity, says Fernandes

Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.

Maybank obtains summary judgement against ACE Corporation, three others for RM46m loan default

Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

Mohan Swami, partner agree to buy 58% of Turiya for RM52.86m from MAA Group

Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.

Asia’s richest banker loses US$1.2 bil after RBI ban

KUALA LUMPUR (April 26): Gamuda Land, the property arm of Gamuda Bhd, has unveiled partners for Gardens Square, the latest commercial development at the 810-acre Gamuda Gardens in Sungai Buloh.

Gamuda Land announces retail partners for upcoming commercial development in Gamuda Gardens

The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering &amp; Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

EPF emerges as second largest shareholder of Sam Engineering

Prime Minister Datuk Seri Anwar Ibrahim on Friday suggested all parties mentioned in a recent report&nbsp;alleging that the government is planning to issue&nbsp;a licence for a casino in&nbsp;Forest City, Johor, to take necessary action&nbsp;against the foreign news agency.

Anwar wants action taken against Forest City casino licence news report

The country’s&nbsp;fifth-generation (5G) network&nbsp;adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.

Fahmi: 5G adoption rate almost 36%, coverage 80.3%, second network unveiling next week

Shares of AirAsia X Bhd (AAX) rose to a six-month high as investors cheered a restructuring plan that would make the company the largest low-cost carrier in Southeast Asia.

AirAsia X logs best day in six months on Capital A restructuring

YNH Property Bhd (YNH) issued a clarification to bondholders via Malaysian Trustee Bhd on the technical default of its Islamic notes, as well as the status of its mall sale and the appointment of a new auditor.

YNH says it has remedied 'technical default' involving sukuk programme

Nestle (Malaysia) Bhd is slated to raise prices for 22 of its products starting July 1, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).

Nestle Malaysia to adjust prices of 22 products starting July 1

Gadang Holdings Bhd has secured a RM280 million contract to design and develop the Klang Valley Data Centre&nbsp;Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of Telekom Malaysia Bhd.

Gadang wins RM280 mil Klang Valley data centre jobs from TM Technology

MYAirline Sdn Bhd will continue to retain its nominated post holders as well as key personnel, while ensuring that its air operator’s certificate (AOC) documentation remains as current as possible.

MYAirline seeking multiple investors, to retain nominated post holders

The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.

World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

Pavilion Real Estate Investment Trust rose to its highest in more than a month&nbsp;after the release of its first-quarter results, while analysts expect the REIT, which mainly manages shopping malls, to benefit further from higher tourist arrivals.

Pavilion REIT climbs over one-month high, analysts say earnings growth on track

The Malaysian Anti-Corruption Commission (MACC) has given businessmen Mirzan Mahathir and Tan Sri Mokhzani Mahathir a 30-day extension from Friday to declare their assets to the anti-graft body.

Mirzan and Mokhzani given 30-day extension to declare assets

D&amp;O Green Technologies Bhd, which mainly makes automotive light-emitting diodes (LEDs), is optimistic of at least 10% revenue growth this year and plans to build another facility in anticipation of “significant growth” over the next decade.

Liew Chin Tong

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