At a basic level, a nation’s economy is really made up of two parts, the real sector and the financial sector. The real sector constitutes all of a nation’s production capabilities, which then results in the nation’s production of goods and services. The financial sector, which consists of the ba...

My Say: Bitcoin ETFs: Another case of unchecked financialisation that could end in tears for all

The Covid-19 pandemic may have necessitated huge deficit spending by governments, but even as the pandemic has ebbed, global debt has continued to balloon. Now totalling US$307 trillion (RM1.4 quadrillion), global debt is 336% of world gross domestic product, having increased by US$100 trillion i...

My Say: In a level playing field, risk-sharing contracts of Islamic finance can be a game changer

There was a time in the 1960s when, following many years of very impressive growth, the bet was on the Soviet Union overtaking the US to become the world’s largest economy. But Soviet central planning could never deliver the goods and so the USSR fell behind economically and later disintegrated p...

My Say: China needs to avoid being the next Japan

Of late there has been much hand wringing about the performance of the Malaysian ringgit. The ringgit’s depreciation has been steady and sustained against several key currencies, in particular the US dollar. Indeed, there is cause for concern as exchange rates do matter for the long-term well-bei...

My Say: Exchange rates matter for long-term wage growth, productivity and national well-being

De-dollarising seems to be in vogue these days. China, Russia and their BRICS (Brazil, Russia, India, China and South Africa) partners may have initiated the narrative but the desire to remove or at least reduce the US dollar’s hegemony has spread. Many nations, including Malaysia, have openly ar...

My Say: Regional currency arrangements come with huge challenges

What a month March had been. Over a three-week period, four mid-size US banks had to be rescued and one large Swiss bank had to be folded into another. Meanwhile, a German bank had to suffer serious erosion of its equity value.

My Say: The Fed dodges a bullet — for now

It was the Ricardian theory of comparative advantage that provided the rationale for why nations should trade among themselves and how it can be beneficial to all. Steady growth in trade led to increased economic integration between countries and the resulting globalisation. 

The p...

My Say: Widening distrust of globalisation could herald economic fragmentation

For at least the last two decades, a presence in China was seen by Western firms as a distinct competitive advantage over their peers. Now, all that seems to be changing. American and European suspicion of China has been rising as China seeks to control its technological destiny. For as long as C...

My Say: Emerging markets can benefit as the West decouples from China

After years of repressed interest rates and ultra-loose monetary policies, central banks of the developed world appear to have been jolted out of their auto-pilot mode. These last few months, the same banks have done a 180° policy reversal with synchronous interest rate hikes to fight inflation. ...

My Say: Transitioning from irrational money will not be painless

After having been flippant about inflation, calling it transitory even as late as last year, the US Federal Reserve (Fed) now appears determined to battle inflation. After five consecutive rate hikes this year, bringing the overnight fed funds rate from 0.25% to 3.25%, the Fed may have dug in its...

My Say: As the Fed battles inflation, emerging markets risk being collateral damage

Civil servants have been told to consistently uphold speed and efficiency to ensure the prompt implementation of government policies.

Prime Minister Datuk Seri Anwar Ibrahim stressed the need for immediate and innovative action when government policies are announced.

Speed, efficiency vital in task execution, Anwar tells civil servants

As part of its continuing quest to add long-haul destinations to its routes over the long term, AirAsia X is exploring possible destinations in Eastern European countries such as Poland and Hungary, and the airline is not ruling out revisiting London and exercising its landing rights to Orlando in the United States.

AirAsia X mulls flying to Poland, Hungary, London and Orlando

Heineken Malaysia Bhd announced on Thursday that it has nominated Martijn Rene van Keulen as its new managing director (MD).

Heineken nominates Martijn Rene van Keulen as new MD to succeed Roland Bala

The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.

Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

The National Physical Planning Council (MPFN) on Thursday approved the main policy related to urban and rural planning, namely the Master Plan for Land Use Planning for Food Source Areas, aimed at reducing dependence on imported food products.

Land use planning for food source areas master plan approved — KPKT

Al-’Aqar Healthcare Real Estate Investment Trust (Al-’Aqar REIT) is actively targeting to acquire yield-accretive properties from KPJ Healthcare Bhd as part of its asset expansion plan.

The proposed exercise will be funded through a combination of unit issuance and cash via bank borrowings, it said in a filing with Bursa Malaysia on Thursday.

Al-`Aqar Healthcare REIT aims to acquire yield-accretive properties from KPJ Healthcare

A total of 20 former employees of Kedah Agro Holdings Berhad (KAHB) are expected to receive salary arrears totalling RM337,000, for a period ranging from six to nine months, to be paid in stages.

Former Kedah Agro employees to receive unpaid wages in stages

BHP Group bid US$38.8 billion for Anglo American on Thursday, offering a deal to forge the world's biggest copper miner and driving its smaller rival's shares 13% higher.

Mining's latest move to consolidate is driven by a scramble for copper and other metals central to the world's clean energy shift and could have major repercussions for South Africa, which has seen the platinum it mines fall out of favour.

BHP bids US$39 bil for Anglo American as miners target copper

Prime Minister Datuk Seri Anwar Ibrahim on Thursday emphasised the need to appoint more women as secretaries-general (KSU) of ministries and directors-general (DG) of departments.

PM wants more women in top civil service posts

Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.

Chin Teck’s 2Q net profit up sevenfold

Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered US$100 billion (RM478.35 billion) property project that counts the country’s monarch as one of its shareholders.

Malaysia is said to mull casino resort to revive Forest City

KUALA LUMPUR (April 25): Members of the the Employees Provident Fund (EPF) who are below 55 years old will have an Account 3 starting from May 11, from which they can make withdrawals at any time for any purpose —&nbsp;subject to a minimum withdrawal amount of RM50. This is on top of the two existing accounts they currently have for retirement savings.&nbsp;

EPF members under age 55 will get Account 3 for flexible withdrawals from May 11

Shares of YTL Corp Bhd rallied to a new all-time high on Thursday after Hong Leong Investment Bank (HLIB) flagged more upside even after a 42% year-to-date surge.

YTL Corp rallies to new all-time high after HLIB flags more upside

Digital Nasional Bhd (DNB), the state-owned company in charge of the 5G network infrastructure rollout, on Thursday named five new board members, comprising senior leaders from the telecom and technology industries.

Digital Nasional names senior telco and tech leaders as new directors

Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.

Ekuinas-backed Al-Ikhsan Sports names former 7-Eleven head as CEO

Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.

Axiata, Sinar Mas move closer to US$3.5b telco merger, Bloomberg reports

Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.

PM denies claims that govt issuing casino licence for Forest City

KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.

Maybank IB is the first from a total of fi...

Mega First shares likely peaked; Maybank IB the first to downgrade stock

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business,&nbsp;has announced the mechanics of its plan via a bourse&nbsp;filing on Thursday.

AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

IOI Properties Group broke ground on Thursday for Senna Puteri, its latest township development located in Sepang, Selangor. The developer is looking to launch 386 units of townhouses in its first phase before the end of the second quarter.

Spanning 117 acres in southern Klang Valley, the 12-phase Senna Puteri will be developed over the next 10 years, offering residential, commercial, recreational areas, green spaces, community hall, surau and more. It has a gross development value (GDV) of over RM3 billion.

IOI Properties breaks ground for 117-acre Senna Puteri in Sepang

JOHOR BAHRU (April 25): The Johor branch of the Malaysian Quarantine and Inspection Services Department (Maqis) found parasitic worms Anisakis sp in samples of sardine cans from China that were brought in through the Sultan Iskandar Building (BSI) here, earlier this month.

Parasitic worms Anisakis sp found in canned sardines from China — Johor dept

KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.

Agricore CS Holdings gets Bursa Malaysia nod to list on ACE Market

Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.

The Consumer Price Index — Malaysia’s main gauge of inflation — rose 1.8% year-on-year, according to the Department of Statistics. The headline figure was a tad lower than the median 2% rise predicted in a Bloomberg survey of economists, and unchanged versus February’s 1.8% gain.

Malaysia’s inflation steady at 1.8% in March

The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.

Azam Baki confirms Dr M among individuals under MACC probe

The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.

His lawyer Chetan Jethwani said that Court of Appeal deputy registrar Muhammad Noor Firdaus Rosli informed the parties of the matter on Thursday morning during case management.

Appellate court grants Muhyiddin five-member bench for review of charges

KUALA LUMPUR (April 25): Former prime minister Datuk Seri Najib Razak had never instructed 1Malaysia Development Bhd’s (1MDB) management to transfer a total US$1.03 billion to Good Star Ltd, a company linked to the fugitive Low Taek Jho (Jho Low), the court heard on Thursday.

Najib never instructed 1MDB management to transfer monies to Good Star — witness

Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.

Asia’s hawks get put on alert after Indonesia’s shock rate hike

Luxchem Corp Bhd’s net profit for the first quarter ended March 31, 2024 (1QFY2024) surged over 54% to RM11.56 million or 1.08 sen per share from RM7.5 million or 0.7 sen per share a year earlier on the back of stronger earnings from both its trading and manufacturing segments.

The industrial chemical and material group’s revenue rose 19.8% to RM183.15 million versus RM152.83 million a year ago as driven by its trading and manufacturing segments, according to a bourse filing on Thursday. &nbsp;

Luxchem 1Q net profit up 54% on stronger trading and manufacturing segment

KUALA LUMPUR (April 25): Malaysia requires an annual allocation of at least RM10 billion for the next three years, which is crucial to boost water infrastructure amid below-cost tariffs and high wastage, the National Water Services Commission (SPAN) said on Thursday.

Malaysia needs RM10 bil for next three years to upgrade water infrastructure — SPAN

Shares of CapitaLand Malaysia Trust (CLMT) surged on Thursday to its highest in nearly four years while analysts remained upbeat following better-than-expected first-quarter (1Q) results.

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