Wall St falls on virus fears, stimulus uncertainty
SEPT 21 — Wall Street’s main indexes slipped at the open today as concerns about fresh coronavirus-driven lockdowns and the inability of Congress to agree on more fiscal stimulus raised fears abou...
Leweko proposes rights issue
KUALA LUMPUR (Bernama) -- Leweko Resources Bhd's proposed rights issue will allow the company to preserve funds for its construction division as the management expects its construction activities to increase in the near term.
Gabungan AQRS sues ex-CFO for over RM13m loss
KUALA LUMPUR (Sept 21): Gabungan AQRS Bhd is suing its former executive director and group chief financial officer (CFO) Bernard Lim Soon Chiang for alleged negligence in the loss of more than RM13 mi...
MATTA Fair to be held online from Sept 23-30
KUALA LUMPUR (Sept 21): The Malaysian Association of Tour and Travel Agents (MATTA) has announced its first-ever online MATTA Fair that will take place from Sept 23-30 featuring domestic and future in...
Bursa Malaysia ends in the red
KUALA LUMPUR, Sept 21 — Bursa Malaysia ended the day in the red with the key index falling below the 1,500-level on lack of catalysts and in line with most regional markets amid the resurgence of Co...
China needs first mover advantage in digital currency race
SHANGHAI: China needs to become the first nation to issue a digital currency in its push to internationalise the yuan and reduce its dependence on the global dollar payment system, a commentary published by the country's central bank said.
Jack Ma’s Ant said to lift IPO funding target to US$35b
JACK Ma’s Ant Group is seeking to raise at least $35 billion in its initial public offering after assessing early investor interest, people familiar with the matter said, putting the Chinese fintech giant on track for a record debut sale.
Supermax subsidiary buys land from S P Setia unit
KUALA LUMPUR (Sept 21): Supermax Corp Bhd's wholly-owned subsidiary Maxter Glove Manufacturing Sdn Bhd is buying two pieces of land in Selangor from S P Setia Bhd's subsidiary Bandar Setia Alam Sdn Bh...
Scientex surges to all-time high on record earnings
KUALA LUMPUR (Sept 17): Scientex Bhd's share price surged to an all-time high of RM10.38 this morning after it posted a record high annual profit for its financial year ended July 31, 2020 (FY20). The...
BNM adds three entities to alert list
KUALA LUMPUR (Sept 21): Bank Negara Malaysia (BNM) has included Fincorp, Mesra Capital Group and World Trade Center Investment Ltd in the central bank's updated financial consumer alert list for com...
Bursa Malaysia mixed at mid-day
KUALA LUMPUR, Sept 21 — Bursa Malaysia ended the morning session mixed as the key index stood 0.07 per cent higher on buying momentum in selected heavyweights.
Frankly Speaking: An unusual declaration
In an exclusive interview with 8TV’s Money Matters on Sept 11, Top Glove Corp Bhd major shareholder and executive chairman Tan Sri Dr Lim Wee Chai indicated that the group would be reporting “pret...
Former Terengganu MB Wan Mokhtar dies
KUALA LUMPUR (Sept 21): Former Terengganu Menteri Besar Tan Sri Wan Mokhtar Ahmad died at 6.20 am this morning at Prince Court Medical Centre, Kuala Lumpur due to heart complications.
Parents shouldn’t wait to pass down their wealth
IN the coming decades, a Great Wealth Transfer will be upon us. Gen Xers and Millennials are expected to inherit trillions of dollars. Some estimates say as much as US$68 trillion will be passed down from Baby Boomers.
Philippines central bank warms up to digital money
MANILA: The Philippines central bank governor Benjamin Diokno says the technology behind digital tokens can improve delivery of financial services, as the regulator proceeds to study the feasibility of its own digital currency.
China continues support for SOEs, private businesses
BEIJING: China is ready to give continued, unswerving support for the reform and development of State-owned enterprises (SOEs) and private businesses, the state council’s executive meeting, chaired by Premier Li Keqiang, announced recently.
Oil patch short-seller profits from crash
NEW YORK: A hedge fund betting on the decline of fossil fuels has made a 25% gain this year after oil’s historic crash sent energy stocks plummeting. Now it expects them to fall further if Joe Biden wins the US presidential election.
Unity’s debut win ends IPO spree on high note
SAN FRANCISCO: Unity Software Inc, which makes software to design video games, jumped 31% in its trading debut, capping a week of big successes for newly public companies in the sector.
More stimulus needed to help last of recovery
NEW YORK: Bank of America Corp chief executive Brian Moynihan called for another round of federal stimulus to help the United States reach a full economic recovery from the coronavirus pandemic.
Corporate debt frenzy rolls on as market worries loom
NEW YORK: Investors are gearing up for the year’s record-breaking pace of corporate bond issuance to continue in the coming week, even after the US Federal Reserve rattled nerves at its September meeting with a gloomier-than-expected economic outlook.
Online boost for local businesses
RHB Banking Group has taken an innovative approach to promote small and medium enterprises (SMEs) to consumers through the RHB #JomSapot campaign.
Higher earnings forecast for Daibochi
KUALA LUMPUR: MIDF Research is revising higher its earnings estimates for Daibochi Bhd as it takes into account the resilient demand for flexible plastic packaging from the group’s customers coupled with the expected increase in production capacity.
Insight: Malaysia 5.0 – Digital transformation for businesses
THE aspirations for the Malaysia Digital Economy Corp (MDEC) is to firmly establish Malaysia as the heart of digital Asean, a regional digital powerhouse and industry trailblazer. In this role, it had launched global champions to lead the Fourth Industrial Revolution (4IR).
Bonds remain relevant amid uncertain times
As the number of reported Covid-19 cases worldwide breaches the 26 million mark and deaths total close to 900,000 (at the point of writing), the trade-off between economic cost and reducing the spread...
TikTok owner seeking US$60bil valuation in US transaction
HONG KONG: China’s ByteDance Ltd is seeking a valuation of US$60bil for TikTok as Oracle Corp and Walmart Inc take stakes in the short-video app’s business to address US security concerns, according to a person familiar with the matter.
The Star Exclusive - Green Packet in e-wallet deal
PETALING JAYA: Green Packet Bhd will provide its e-wallet services to MMAG Holdings Bhd following the move by the Human Resources Ministry to make it mandatory for salaries of foreign workers to be credited into an e-wallet or a bank account
UK at critical point in COVID pandemic
LONDON: Britain is at a critical point in the COVID-19 pandemic and faces a very challenging winter, one of the government's top medical advisers will warn at a public briefing on Monday.
UK to extend business support loans
LONDON: British finance minister Rishi Sunak is set to extend the Treasury's UK-wide programme of business support loans to help companies affected by the coronavirus pandemic, the Financial Times reported late on Sunday.
Six bodies wash up on shore near Bandar Penawar
JOHOR BAHRU (Sept 20): The bodies of two men and four women believed to be illegal immigrants from Indonesia were found washed up on the Pantai Teluk C, Bandar Penawar near Kota Tinggi today.
IWK denies claims of polluting Sungai Gong
KUALA LUMPUR (Sept 20): Indah Water Consortium Sdn Bhd (IWK) today said the incident of black coloured water found in Sungai Gong, Rawang, was not due to effluent discharge from the Rawang Integrated ...
Kedah Medical Centre resumes services
ALOR SETAR (Sept 20): The Kedah Medical Centre (KMC) has resumed its services including the Accident and Emergency Unit, Outpatient Clinics, Inpatient Admissions and Operation Theatres.
China's ByteDance gets Trump nod to avoid TikTok shutdown
WASHINGTON/NEW YORK: U.S. President Donald Trump said on Saturday he supported a deal in principle that would allow TikTok to continue to operate in the United States, even as it appeared to conflict with his earlier order for China's ByteDance to divest the video app.
EDUnation: What our education system needs
The members of Majlis Penasihat Pendidikan Malaysia 2018-2020 (MPPK), or National Education Advisory Council, selected by the then minister of education Dr Maszlee Malik, officially ended their two-ye...
MCMC investigates complaints on TM's package
KUALA LUMPUR (Sept 20): The Malaysian Communications and Multimedia Commission (MCMC) has commenced investigation into consumer complaints regarding the reduction of the upload speed for Unifi 500Mbps...
EPF approves RM3.79b in 2Q under i-Lestari
KUALA LUMPUR: The Employees Provident Fund (EPF) approved 4.35 million applications with a cumulative withdrawal between April and June 2020 worth RM3.79bil under the i-Lestari withdrawal facility.
Malaysia to join COVAX vaccine plan
PUTRAJAYA (Sept 19): Malaysia will be joining 172 countries to participate in the COVID-19 vaccine global access (COVAX) to obtain access to the supply of COVID-19 vaccine, said the Ministry of ...
Jimmy Palikat finds inspiration in Pairin Kitingan
KOTA KINABALU (Sept 19): Inspired by the victory of Tan Sri Joseph Pairin Kitingan in the Tambunan by-election as an independent candidate in 1984, local singer Jimmy Palikat who is contesting in t...
CPO to extend gains on higher demand
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to continue a positive momentum next week driven by expectations of higher demand.
Are stocks losing some of their liquidity momentum?
THE volatile market action over the past 24 hours shines a spotlight on an important question for investors: Have markets lost part of the liquidity anchor that not only allowed them to brush off a number of negative influences but also pulled stocks higher to one record after the other?
SSM offers 90% compound reduction until Dec 31
KUALA LUMPUR (Sept 19): The Companies Commission of Malaysia (SSM) is offering 90 per cent reduction from the original compound value for applications to strike off the name of a company under Sec...
ESG’s role in equity investing
THE merits of integrating ESG (environmental, social and governance) criteria and sustainability into an investment decision are clear, argues one fund manager.
Political instability to hit Thai economy
CONFIDENCE in Thailand – originally boosted by the country’s admirable management of its domestic Covid-19 outbreak – is waning as political chaos takes centre stage.
Driving AMMB forward in a time of crisis
KUALA LUMPUR (Sept 19): AMMB Holdings Bhd group chief executive officer (CEO) Datuk Sulaiman Mohd Tahir recalls the 1997/98 Asian Financial Crisis (AFC), when Malaysian banks were truly put to the ac...
Future-proofing businesses for SMEs
JOHOR BARU: The upcoming SOBA LAB, which will be held on Sept 23 at Thistle Johor Baru, will see industry leaders and entrepreneurs share their take on strategies and solutions to future-proof businesses, especially small and medium entreprises (SMEs).