IT’S inevitable — digital banks are coming. This new breed of banks has been sprouting up in the region, particularly in China, and it is only a matter of time before they come to Malaysia’s shores.

A digital bank, sometimes known as a virtual bank, is one that does not have a physical ...

Cover Story: A new banking reality

KAKAO Bank’s launch as one of the first digital banks in South Korea almost two years ago turned out to be a major wake-up call for the nation’s traditional banks.

Built on the back of South Korea’s highly popular messaging platform Kakao Talk, it started operations as a mobile-only ban...

Cover Story: The South Korea Experience: How Kakao Bank forced traditional banks to buck up

RHB Capital Bhd’s outgoing group managing director Kellee Kam believes that the reorganisation of the group comes at an opportune time. “This is wisdom from my board. They say that in business, there are seasons. When it’s summer or autumn, you go out, make the best of it. You farm, you build you...

Cover Story: RHB in transition

CIMB Group Holdings Bhd’s Indonesian operations, once seen as the most promising of its overseas ventures, disappointed last year for a host of reasons, dragging down the group’s overall financial performance.

A key question playing on investors’ mind as they decide whether to buy, sell...

Cover Story: The Indonesian conundrum

THESE aren’t exactly what one would call the best of times for CIMB Group Holdings Bhd’s newly confirmed group chief executive Tengku Datuk...

Cover Story: Is the worst over for CIMB?

KUALA LUMPUR (April 24): Sapura Industrial Bhd plans to collaborate with Mili Tech Sdn Bhd on feasibility studies for electrified vehicle (EV) products and potentially establish a joint venture (JV) business in Malaysia.

Sapura Industrial inks MOU with Mili Tech for feasibility studies on EVs

Tesla expects to book more than US$350 million (RM1.6 billion) in costs in the current quarter for the mass layoffs it began last week, the automaker disclosed on Wednesday, as it shifts focus to more affordable models that it plans to introduce by early 2025.

Tesla expects to book over US$350m in costs for layoffs

Hong Kong Exchanges and Clearing (HKEX) named Carlson Tong as its new chairman, succeeding Laura M Cha who retired after the conclusion of the 2024 annual general meeting, the bourse operator said on Wednesday.

Hong Kong bourse operator names Carlson Tong as new chairman

The retail prices of RON97 and RON95 petrol, as well as diesel will remain unchanged at RM3.47 (RON97), RM2.05 (RON95) and RM2.15 (diesel) per litre from April 25 to May 1.

Fuel prices remain unchanged till May 1

GXBank, Malaysia’s first digital bank, said it plans to establish a regional centre of excellence (COE) for shared services in Malaysia, serving Grab-led digital banks and financial and operational services in the region.

Grab-led GXBank to establish regional centre of excellence in Malaysia by year-end

United Plantations Bhd’s (UP) net profit grew 18.54% year-on-year to RM132.87 million for the first quarter ended March 31, 2024 (1QFY2024), mainly due to a sharp drop in finance cost, on the back of slightly higher revenue, thanks to higher crude palm oil (CPO) and palm kernel (PK) prices.

United Plantations kicks off FY2024 on positive note as 1Q profit rises 18.5%

(April 24): Firms making up more than half of Asia’s stock market value are vulnerable to deforestation, species loss and other nature-related risks, according to a new report, as governments ramp up regulations and industries continue to deplete the planet’s resources.

Investors spot new nature-related risk in firms worth half of Asia’s market value

Capital A’s board of directors has decided to extend Tan Sri Tony Fernandes' tenure as the chief executive officer for another five years.

NEWS: Fernandes to be Capital A CEO for another five years

KUALA LUMPUR (April 24): AME Real Estate Investment Trust (AME REIT) recorded a 11.9% growth in net property income (NPI) in the fourth quarter ended March 31, 2024 (4QFY2024) to RM11.4 million, from the previous corresponding quarter, driven by a 15.9% increase in rental income.

AME REIT’s 4Q net property income jumps 12%, declares 1.86 sen distribution per unit

Capital A CEO Tan Sri Tony Fernandes clarified today that it will be AirAsia Consulting, not AirAsia, that is bidding for SriLankan Airlines.

NEWS: AirAsia Consulting, not AirAsia, bidding for SriLankan Airlines

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)

Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.

The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.

Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.

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

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

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

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

One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.

Malaysia to start using QR code at checkpoints with Singapore, report says

E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

MyEG inks partnership to launch Hong Kong virtual assets

Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;

Telco shares lift Bursa higher at midday

Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.

Fernandes to be CEO of Capital A for another five years

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

NationGate may extend upward trajectory, says Rakuten Trade 

Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

DXN climbs over one-month high, analysts see positive outlook

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

The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.

MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

Gold’s record-setting rally may have its roots in Chinese frenzy

Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.

Haily shares near all-time high after securing RM109.5m housing job

KUALA LUMPUR (April 24): Dataprep Holdings Bhd said on Wednesday that Tan Sri Muhammad Ikmal Opat Abdullah has ceased to be the substantial shareholder in the IT products and services company.

Muhammad Ikmal of Widad ceases to be Dataprep’s substantial shareholder as shares sale continues

Several important developments related to Digital Nasional Bhd (DNB), including the appointment of its board members and the direction of the agency, will be announced on Thursday, said Communications Minister Fahmi Fadzil.

Digital minister to unveil DNB board, announce new developments tomorrow — Fahmi

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;

Stories by Joyce Goh and Adeline Paul Raj

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Stories by Joyce Goh and Adeline Paul Raj

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