Budget 2020 is not able to stimulate the Malaysia economy next year as it does not feature any tax relief while the cost of living is expected to continue rising, said former Prime Minister Datuk Seri Najib Razak.

“Budget 2020 is not enough to stimulate the economy, not even materialising their promises. Our plan in the past was to reduce income tax gradually, especially for the middle-income group, and reduce corporate tax, because our corporate tax is higher than Singapore's,” he told reporters at Parliament lobby today.

Budget 2020 not able to stimulate economy, Najib says

KUALA LUMPUR (Nov 2): The following are the highlights of Budget 2019:


	Themed 'Malaysia Wibawa, Ekonomi Dinamik, Rakyat Sejahtera', Budget 2019 will have 3 focus areas, and 12 main strategies to return Malaysia's economic position as an Asian Tiger
	
		1st focus: Imple...

Budget 2019 Highlights

FULL Budget 2019 Speech

FRIDAY, 2 NOVEMBER 2018

A resurgent Malaysia, a dynamic economy, a prosperous society

Mr Speaker Sir,

1. I beg to move the Bill intituled “An Act to apply a sum from the Consolidated...

Full Budget 2019 speech 

PETALING JAYA (Nov 2): The Securities Commission Malaysia (SC) said the Budget 2019 has identified key priorities to support the transition of the Malaysian economy towards a more balanced, sustainable and inclusive growth.

In a press release issued today, it said technology has encoura...

SC supports use of tech such as property crowdfunding platforms in driving economy

PETALING JAYA (Nov 2): It would make more sense for the government to increase the Real Property Gains Tax (RPGT) rates within the first five years instead of imposing a 5% tax rate for Malaysian individuals after the fifth year, said the Association of Valuers, Property Managers, Estate Agents a...

Increase RPGT rates within first 5 years would make more sense, says PEPS

PETALING JAYA (Nov 2): The National House Buyers Association (HBA) has urged the government to take measures to slow down escalating property prices by raising the supply of homes in the affordable housing segment through  government-linked corporations, state economic agencies and  bod...

HBA urges measures to slow down property price growth

PETALING JAYA (Nov 2): The Institute for Democracy and Economic Affairs (IDEAS) senior fellow Dr Carmelo Ferlito has applauded the commitment made by the Real Estate and Housing Developers’ Association Malaysia (Rehda) to reduce house prices by 10% for new projects that are not subject to price c...

IDEAS applauds REHDA’s commitment to lower house prices by 10%

PETALING JAYA (Nov 2): The Malaysian Institute of Estate Agents (MIEA) has described Budget 2019 as a budget with “more answers than questions”.

“At first glance, I feel Budget 2019 is very different from the previous one as it has more answers than questions. The budget has a very clea...

A budget with 'more answers than questions', says MIEA

PETALING JAYA (Nov 2): Kenanga Head of Equity Research Sarah Lim (pictured) said it will be interesting to know how the current government will monitor the selling prices of new houses.

She was commenting on the Budget 2019 announcement that states the Real Estate and Housing Developers...

How will govt monitor new home prices, asks Kenanga

KUALA LUMPUR (Nov 2): The absence of an excise duty hike in Budget 2019 comes as a relief to brewers like Carlsberg Brewery Malaysia Bhd today.

That's because a further hike in excise duties, if any, will lead to a dramatic increase in contraband beers, which already account for approxi...

Carlsberg breathes sigh of relief on no excise duty hike

KUALA LUMPUR (Nov 2): United Oversea Bank (Malaysia) Bhd (UOB) views Malaysia’s higher headline fiscal trajectory as outlined in Budget 2019 as temporary, although it is concerned about execution risks and revenue uncertainties.

“Despite higher fiscal targets, we see it as a temporary d...

Higher fiscal deficit targets seen as temporary

KUALA LUMPUR (Nov 2): The Government will use some RM30 billion in special dividends from  Petroliam Nasional Bhd (Petronas) to partly repay RM37 billion worth of outstanding GST and income tax refunds, said Finance Minister Lim Guan Eng.

Lim has said back in September that the Gov...

Mixed views on taxes refund resolution via Petronas’ cash dividends

KUALA LUMPUR (Nov 2): Following the Government’s guidance of a wider fiscal deficit in 2018 than targeted by the previous administration, rating agencies have voiced concerns over the level of Malaysia’s national debts.

Finance Minister Lim Guan Eng, in presenting Budget 2019 today, ann...

Rating agencies raise concern over widened fiscal deficit in 2018

KUALA LUMPUR (Nov 2): Organisations may not have enough time to implement the new minimum wage by the new year, says recruitment specialist Kelly Services.

“While employees will be celebrating increase in minimum wages from RM1,050 to RM1,100, we are concerned about the impact of this s...

'Short notice for new minimum wage may be problematic for employers'

DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.

Tehran signals no retaliation against Israel after drones attack Iran

In today’s edition of Evening 5: 0:06 Escalating Middle East unrest, hawkish US Fed shake regional markets 2:32 Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows4:02 Axiata merger with Bharti Airtel raises earnings concern — analysts5:51 Awantec shares plunge as much as 53%, intraday short selling suspended7:33 Main-Market bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

EVENING 5: Bursa ends mixed amid weak regional sentiment

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 19): Construction company Lim Seong Hai Capital Bhd (LSH Capital) said it has obtained approval from its shareholders to transfer the group’s listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities.

Lim Seong Hai Capital gets shareholder nod for transfer of listing to ACE Market

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

YX Precious Metals proposes to transfer listing from ACE Market to Main Market

KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

Yinson’s unit places US$500 mil five-year senior secured bonds

KUALA LUMPUR (April 19): Fajarbaru Builder Group Bhd said it has secured a RM13.33 million contract to upgrade fire engineering systems at the Kuala Lumpur International Airport’s Terminal 1 satellite building.

Fajarbaru clinches RM13 mil contract from MAHB

MISC Bhd, via its petroleum arm AET, has entered into time charter party contracts with PETCO Trading Labuan Company Ltd (PTLCL) for the world’s first two ammonia dual-fuel Aframaxes (tankers with a deadweight of between 80,000 and 120,000 tonnes), as it seeks to reduce overall emissions from its operations.

Both MISC and PTLCL are units of  national oil company Petronas.

MISC enters time charter party contracts with Petronas unit for world's first ammonia dual-fuel Aframax tankers

KUALA LUMPUR (April 19): UEM Sunrise Bhd has launched The Beat 2.0, an extension of The Beat retail hub at its Kiara Bay development in Kepong, during a groundbreaking ceremony held at the Kiara Bay sales gallery on Friday. The Beat 2.0 measures 2.6-acres and will comprise a net lease area (NLA) of 73,566 square feet (sq ft), according to a press statement on Friday.

UEM Sunrise launches The Beat 2.0 at Kiara Bay, welcomes Harvey Norman as anchor tenant

Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

MIDF confirms cyber security incident

Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.

Trading in Sapura Energy suspended pending announcement 

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

Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

Israel attacks Iran, Reuters reports, as drones shot down over Isfahan 

Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;

Awantec shares plunge 53%, intraday short selling suspended 

RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).

RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.

Apple pulls WhatsApp, Threads from China app store after Beijing order

MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;

Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).

Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.

Bursa Malaysia 1Q earnings likely up 34% y-o-y, HLIB projects

Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

Malaysia’s March exports down 0.8%, imports surge 12.5%

Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

Sime Darby Property gets commitment for balance 30% of RM1b industrial development fund

Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.

Kenanga sees Main-Market bound Keyfield International cashing in on OSV boom, sets target price at RM1.90

Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

Melaka State Secretary Zaidi dies of heart attack

PUTRAJAYA (April 19): Payment of fees&nbsp;for training or classes in esports, equestrian, swimming, motorsports and taekwondo is&nbsp;eligible for&nbsp;tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

Batik Air will suspend its operations to Istanbul, Turkiye, effective May 1, 2024, and affected passengers will be notified via email and text, said the airline operator, Malindo Airways Sdn Bhd.

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