Mergers and acquisitions (M&A) activities fell to the lowest in a decade in 2023. According to the “Global M&A Report” published by Bain & Co, the total M&A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.

M&A activities hit a low in 2023, pickup expected this year

Charting the VC industry’s course forward

Small and medium enterprises (SMEs) account for 97% of all business establishments in Malaysia and employ around 48% of the country’s workforce. While the pressure to provide sustainability-related disclosures and adopt relevant practices has thus far been on bigger companies, SMEs are increasingly affected as well. A special feature in the recent Bank Negara Malaysia (BNM) 2023 annual report, titled “Supporting SMEs transition to greener practices”, highlights the risks, opportunities, steps and toolkits for SMEs in this low-carbon transition.

Helping SMEs cope with climate change

The State of Southeast Asia 2024 survey by ISEAS - Yusof Ishak Institute (formerly Institute of Southeast Asian Studies) reveals that China has edged past the US to become the prevailing choice (50.5%) if Southeast Asian countries were forced to align themselves in the ongoing US-China rivalry. The US as a choice declined from 61.1% last year to 49.5%.

Majority of Southeast Asians would rather align with China than the US

The global offshoring industry is undergoing a significant transformation because of technological advancements. There has been a transition from basic functions in the early days of first-generation outsourcing to specialised services.

Global offshoring a catalyst for office space demand in Malaysia

Banks, irrespective of size or credit strength, are consistently ramping up their cyber spending because of an escalating number of incidents. Events such as the ransomware attack on China’s biggest lender, the Industrial and Commercial Bank of China (ICBC), demonstrate how critical cybersecurity can be and the potential damage to bank operations.

Banks raise budgets to fight rise in cyber threats

Since 2000, floods have been the cause of 85% of all natural disasters in Malaysia, with the frequency increasing since 2020. The catastrophic floods of December 2021 highlight the significant impact unabated climate change could have on the Malaysian economy and financial sector.

Building resilience against floods in Malaysia

One of Pakatan Harapan’s biggest priorities when it came to power in November 2022 was to address the revenue leakage the government faced while shrinking the size of the shadow economy of illegal and unrecorded income.

The near-future standard of invoicing

Hydrogen is touted as the next alternative green energy solution. There are several projects and plants being developed in Malaysia as envisioned in the Hydrogen Economy and Technology Roadmap, and even more are under development globally.

Exploring hydrogen as an energy source

It pays — literally — to have skills and expertise in artificial intelligence (AI). Findings from a survey of employers and employees by Amazon Web Services — in collaboration with Access Partnership, a UK-based public policy consultancy focused on technology — show that having AI skills could boost salaries, productivity and career growth for workers. However, there is a lack of skilled talent to harness the full potential of AI.

The AI payoff for employees

In the “Informal Employment in Malaysia: Trends, Challenges and Opportunities for Reform” report by the World Bank in February, a data analysis of the informal employment landscape in Malaysia reveals the vulnerabilities of those in it. Household income surveys conducted between 2009 and 2019 show that women, youth, less educated persons and workers from lower-income households, rural areas and less developed states were more likely to be informally employed. In fact, women across groups were more likely to experience skill-related unemployment, which is defined as the share of those with tertiary education working in mid- or low-skilled jobs in the workforce.

Challenges of women in informal employment

The significant contribution of small and medium enterprises (SMEs) in Malaysia’s pursuit of economic reforms cannot be overstated. However, limited financing poses a substantial hurdle for SMEs to grow and has the potential to jeopardise the development of the entire SME ecosystem. What does the financing landscape for SMEs look like and what are the challenges and opportunities for start-ups, micro, small and medium enterprises (MSMEs)  and mid-tier companies (MTCs) when it comes to accessing financing?

Market-based financing for SMEs in Malaysia: Issues, challenges and the way forward

The results of the 2024 Agility Emerging Markets Logistics Index signal that global trade is at a crossroads as companies struggle to bolster their supply chains through near-shoring, re-shoring, friend-shoring and other production/sourcing strategies. It is not all bad news, though. As World Trade Organization director-general Ngozi Okonjo-Iweala says, “The case for strengthening the trading system is far stronger than the case for walking away from it.” Between October and December 2023, Transport Intelligence, one of the world’s leading providers of logistics and supply chain market research, surveyed 830 logistics industry professionals for their opinions on the prospects and challenges that emerging markets face in the year ahead. The following are the findings of the survey.

Sobering findings of the Agility Emerging Markets Logistics Index

As generative artificial intelligence (GenAI) continues to evolve, large language models (LLMs) will have increased capabilities, use audio-visual training, transform the workplace and improve conversational AI.

Language of tomorrow

LONDON (April 25): Crystal Palace made absolutely sure of Premier League safety with an impressive 2-0 home defeat of Newcastle United on Wednesday with both goals scored by Jean-Philippe Mateta.

It was a well-deserved win for the hosts while Newcastle's European hopes were dealt a blow...

Mateta double fires Palace to win over Newcastle

CAIRO/JERUSALEM (April 25): Israeli warplanes pounded the northern Gaza strip for a second day on Wednesday in a fierce assault that has shattered weeks of comparative calm, and Israel said it was moving forward with plans for an all-out assault on Rafah in the south.

After an abrupt Is...

Israel says Rafah assault looms; massive Gaza airstrikes end weeks of relative calm

MANCHESTER (April 25): Manchester United captain Bruno Fernandes came to his side's rescue with two goals in a 4-2 home victory over the Premier League's bottom club Sheffield United on Wednesday just when more trouble loomed for beleaguered manager Erik ten Hag.

Twice United trailed ag...

Fernandes digs Man Utd out of hole in win over Sheff Utd

NEW YORK/LONDON (April 25): U.S. and European shares finished mixed on Wednesday ahead of more corporate earnings this week, and the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.

An auction of a record $70 billion worth of five-year U.S. Treasury note...

Equities mixed as investors eye earnings; yen on intervention watch

LIVERPOOL, England (April 25): Everton's Jarrad Branthwaite and Dominic Calvert-Lewin scored in a pulsating 2-0 home victory over Liverpool in the Merseyside derby on Wednesday that could prove to be the death of the visitors' withering Premier League title hopes.

Everton's first derby ...

Everton deal Liverpool big blow with shock 2-0 derby victory

(April 25): Barcelona boss Xavi Hernandez on Wednesday reversed his decision to step down at the end of the season and agreed to stay in charge of the LaLiga giants for the 2024-25 campaign, a club spokesperson confirmed to Reuters.

Xavi spent most of the day in meetings with Barca offi...

Xavi to continue as Barcelona manager, LaLiga club confirms

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

MYAirline loses licence to operate as commercial airline as CAAM revokes AOC

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

YNH aborts sale of Segambut land, appoints Chin Hin Group Property to develop it instead

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.

TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

OYO plans to add 100 self-operated hotels in Malaysia in 2024 and will be looking to secure annual to long-term management contracts on a revenue-sharing basis for these properties. This is part of OYO's programme aimed at fostering economic growth in communities via partnerships.&nbsp;

OYO plans to launch 100 self-operated hotels in Malaysia for 2024, with the first in Kota Damansara

The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.

Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by Bloomberg News.

Chinese metal tycoon’s heir buys US$62m Singapore mansion

Mah Sing Group Bhd's land acquisition for its third development in Setapak,&nbsp;Kuala Lumpur, namely M Azura, has become unconditional. The developer has three months to pay the balance purchase price of about RM59 million. The land for M Azura was acquired on Dec 8, 2023 for a total cost of RM74.3 million.

Mah Sing's land acquisition for M Azura has become unconditional

KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.

Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London&nbsp;has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

MOF: Meeting with 70 fund investors highlights Madani govt’s action to spur strategic investments

Hibiscus Petroleum Bhd said it has completed the drilling of the Bunga Aster-1 exploration well and is expecting its first oil production to begin in May.

Hibiscus Petroleum completes drilling at Bunga Aster-1 well, first oil production set for next month

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

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

Suria KLCC's established reputation as a premier shopping destination has set it apart from other malls in the same vicinity, which provided it an effective buffer against new competition, according to KLCCP Stapled Group chief executive officer Datuk Md Shah Mahmood.

Suria KLCC shrugs off competition from new malls, with occupancy rate hitting 98% at end-2023

KUALA LUMPUR (April 24): Suria Capital Holdings Bhd’s wholly owned Sabah Ports Sdn Bhd has roped in DP World, an Emirati multinational logistics company based in Dubai, to manage Sapangar Bay Container Port (SBCP), in a bid to cement the port’s position as a regional trade hub for the East Asean growth area spanning Brunei, Indonesia, Malaysia and the Philippines (BIMP-EAGA).

Suria Capital’s Sabah Ports ropes in Dubai’s DP World to manage Sapangar Bay Container Port

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%

The Ministry of Investment, Trade and Industry (Miti) will finalise a comprehensive strategic plan for the semiconductor industry to ensure Malaysia remains competitive in the sector.

Miti to finalise comprehensive strategic semiconductor plan by next month

Axis Real Estate Investment Trust (Axis REIT), which focuses on industrial assets, is disposing of its property in Nusajaya, Johor, for RM162 million cash to a data centre operator. It did not disclose the identity of the purchaser.

Axis REIT to dispose of Axis Steel Centre @ SiLC in Johor for RM162m cash

(April 24):&nbsp;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

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

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EVENING 5: Five things you need to know today

The yen fell on Wednesday to its weakest levels against the dollar since 1990, with markets alert to any signs of intervention from the Japanese authorities to prop up their currency.

Japan's yen hits 155 per dollar, weakest since 1990

US President Joe Biden’s recent polling bump in key battleground states has mostly evaporated, as a deep current of pessimism about the trajectory of the US economy hurts his standing with voters.

Biden trails Trump in six of seven key states, poll shows

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

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