StarBiz
COVER FEATURE
Despite government assurances that data centres (DCS) will bear their own energy costs, their surging electricity demand and the rising cost of imported gas could ultimately push up tariffs for households and businesses. The government’s projections...
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Gradual fiscal consolidation favoured
PETALING JAYA: The government is prioritising gradual fiscal consolidation over aggressive spending cuts as it seeks to rein in the national deficit without undermining economic growth and investor confidence amid heightened global...
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Call to widen SME financing options
KUALA LUMPUR: The World Bank has called on financial institutions to broaden financing options for small and medium enterprises (SMES) beyond traditional collateral-based methods which may not be adequate to support businesses investing in...
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Curbs on DC grid hoarding
KUALA LUMPUR: Malaysia is tightening the reins on the country’s explosive data centre (DC) boom to protect national energy security and household electricity bills by the introduction of stricter financial deterrents against speculative grid...
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Germany eyes closer M’sia ties
PETALING JAYA: Germany is looking to deepen its economic footprint in Malaysia as global companies accelerate supplychain diversification, opening up fresh investment opportunities in semiconductors, advanced manufacturing, green technology and...
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A banker fuelling fintech’s rise
JACKIE Reses, after decades of financial-services experience at the likes of Goldman Sachs Group Inc, Yahoo Inc and Jack Dorsey’s Block Inc, became one of a handful of billionaires to buy a bank – and one that’s growing exponentially. Using mostly her...
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SD Guthrie ninemonth profit rises
KUALA LUMPUR: SD Guthrie Bhd remains optimistic about delivering a strong performance for 2026 on the back of robust plantation contributions and resilient crude palm oil (CPO) prices, although weatherrelated risks could weigh on production in the year...
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Low impact on Bursa from US midterms
PETALING JAYA: Geopolitical tensions, energy prices and monetary policy actions matter more than the outcome of the midterm elections in the United States. The artificial intelligence (AI) trade, which is also an important source of US dollar support,...
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IOIPG launches Rm2.1bil REIT
PUTRAJAYA: IOI Properties Group Bhd (IOIPG) is looking to monetise more of its mature assets through its real estate investment trust (REIT) platform and a proposed private trust fund in Singapore, with the aim of unlocking value from its mature assets...
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3Q earnings likely to soften
PETALING JAYA: A slowdown in earnings delivery is anticipated in the coming thirdquarter (3Q26) reporting season, although technology exporters and businesses supporting data centre (DC) expansion could provide pockets of strength. Rising material...
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Targeted solutions to property overhang
PETALING JAYA: Despite measures announced under Budget 2027 to support the property sector, challenges such as the overhang of unsold properties remain a concern, highlighting the need for further intervention. JLL Malaysia managing director Jamie Tan...
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Resilience under pressure
LONDON-based Cai baochun used to make a hefty profit reselling Hermes’ famed birkin bags for more than double their Us$10,000 retail price. Now he has stopped stockpiling them as second-hand prices fall. “I don’t want to lose money,” said Cai, who...
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Steel demand stunted
SUBANG JAYA: Malaysia’s iron and steel industry currently stands at a critical inflection point, as intersecting structural pressures including increasing overcapacity, intensifying trade protectionism, and sustainability mandates pose challenges to...
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Chip boom reality check
PETALING JAYA: While the semiconductor boom has sent Malaysia’s exports soaring to record highs, the benefits are yet to be seen on the ground. CGS International (CGSI) Research head of economics Nazmi Idrus said in a note that there was limited...
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Price squeeze ahead?
PETALING JAYA: The projected acceleration in Malaysia’s Producer Price Index (PPI) has raised questions on whether higher costs will impact consumer inflation in the future. The PPI surged to 10.7% in August this year – the fastest pace since June...
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AI boom set to continue
PETALING JAYA: Amid layers of criticism and scepticism, the evolution of artificial intelligence (AI) in today’s business world is a real phenomenon that is here to stay, industry players say. While the economic returns and realworld productivity as a...
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Test of resilience
PETALING JAYA: The Securities Commission’s (SC) plan to ask major listed companies on forward-looking mitigation plans for El Nino next year is putting the spotlight on a growing business risk. The economic cost of prolonged heat, drought and...
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COVER FEATURE
For 45 years, palm oil has been the engine of IOI Corp Bhd’s growth. Now, Datuk Lee Yeow Chor wants to ensure the group’s future does not depend on a single commodity. The group is putting its land, plantation waste and downstream expertise to work in...
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Ringgit likely to remain under pressure
PETALING JAYA: The ringgit is expected to remain under pressure in the near term as persistent US inflationary pressures and escalating geopolitical tensions support the US dollar, while markets assess the Federal Reserve’s (Fed) interest rate outlook...
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CIMB mulls privatisation of Indonesian unit
PETALING JAYA: CIMB Group Holdings Bhd is considering pulling its Indonesian banking subsidiary, Bank CIMB Niaga Tbk PT, off the Indonesia Stock Exchange (IDX), as beaten-down valuations and mounting regulatory pressures raise questions over the merits...
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Haze clouds outlook
PETALING JAYA: The worsening haze is expected to weigh on businesses across several sectors, particularly agriculture and tourism, although economists believe its impact on Malaysia’s overall economic growth will remain limited. While prolonged haze...
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Gas and turbine shortage damper for DC power plan
PETALING JAYA: Conditions placed on newly approved data centres (DCS), that include having to build their own power plants, raises questions of whether there will be sufficient gas supply and turbines for their needs. In addition, RHB Research noted...
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Malaysian chipmakers unfazed for now
PETALING JAYA: A sharp selloff in global technology stocks this week has rattled markets, but Malaysian semiconductor players say businesses have yet to feel it. QES Group Bhd managing director Chew Ne Weng said orders were continuing “as usual” for...
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14-15 LEADER
The suggestion for the employer’s Employees Provident Fund contribution to be lowered by up to two-thirds from the statutory 12% for those earning above RM10,000 is unwise as it defeats the government’s aim to strengthen the social safety net, of which...
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Risk of supply disruptions
PETALING JAYA: New offensive tactics targeting energy infrastructure and commercial ships in the Middle East threaten to disrupt global oil supplies, as attacks raise the risk of worsening supply shortages, higher energy costs and potential global...
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Cress viability intact
PETALING JAYA: Gamuda Bhd and its Taiwanese partner have won a 29.22 billion New Taiwan dollar (Rm3.72bil) designand-build contract for the Keelung Mass Rapid Transit (MRT) systems and trackwork project in Taiwan. In a Bursa Malaysia filing yesterday,...
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High inventory to weigh on CPO prices
PETALING JAYA: Record-high palm oil stocks are expected to weigh on crude palm oil (CPO) prices in the near term, although improving export demand and lower production towards year-end could help ease the surplus heading into 2027. Earlier this week,...
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Genting loses Rm1.6bil in market value after cash call
PETALING JAYA: Genting Bhd shares plunged to a near two-decade low as investors balked at its proposed Rm1.25bil rights issue, with concerns mounting over potential earnings dilution and whether the fundraising would do enough to ease the group’s hefty...
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Execution is key
PETALING JAYA: While Budget 2027 strikes a pragmatic balance between easing cost-of-living pressures and supporting economic growth, the sustainability of government spending and the ability to translate measures into lasting economic gains remain key...
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4-5 COVER FEATURE
For years, Perusahaan Otomobil Kedua Sdn Bhd had little reason to look in the rearview mirror. It was streets ahead of fellow national carmaker Perusahaan Otomobil Nasional Sdn Bhd (Proton) in market share. That lead, however, is beginning to narrow....
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“Against this external backdrop, the budget’s most direct contribution to market confidence will lie in fiscal credibility.”
PETALING JAYA: Bursa Malaysia sunk below the 1,600 psychological level briefly, before finding support above this key level, even as investors continued to remain cautious amid external uncertainties and the unveiling of Budget 2027 today. Industry...
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CPO resilient
KUALA LUMPUR: Crude palm oil (CPO) production is expected to experience only a slight decline moving into 2027 despite the prevailing El Nino weather pattern, avoiding the severe production shortfalls anticipated in Indonesia. Glenauk Economics...
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Crucial to rebuild fiscal space
PETALING JAYA: The World Bank has recommended that Malaysia’s Budget 2027 to be announced on Friday focus on rebuilding the country’s fiscal space while supporting investment, productivity and vulnerable households. Apurva Sanghi, lead economist for...
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Oil and gas Brent futures could average US$107 per barrel in 4Q26 and US$112 in 1Q27
PETALING JAYA: Brent crude oil prices are expected to stay above US$100 a barrel and climb even higher if the United States and Iran remain locked in a standoff, leaving the Strait of Hormuz as a major fault line for global oil supplies. BMI Research,...
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“Government incentives should not only help make projects viable but also ensure that they deliver lasting benefits.”
PETALING JAYA: As Budget 2027 approaches this Friday, real estate experts are hoping for policy measures that will address affordability concerns, streamline property transactions and enhance the sector’s appeal to investors. Savills Malaysia group...
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COVER FEATURE
As Prime Minister Datuk Seri Anwar Ibrahim prepares to table Budget 2027 on Oct 9, revenue reforms remain unfinished. Malaysia has seen higher revenue collection, narrowing debt levels and some relief from subsidy rationalisation. Yet the structural...
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“This financing provides DNB with a sustainable platform to operate on its own.”
PETALING JAYA: Digital Nasional Bhd’s (DNB) completion of a Rm5.2bil syndicated Islamic term financing marks a significant step in Malaysia’s transition to a dual 5G network, providing the wholesale network operator with a longer-term funding structure...
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Record order book to underpin stronger profit upcycle
PETALING JAYA: Gamuda Bhd’s shares climbed to a near nine-month high as investors cheered record revenue and a swelling pipeline of mega contracts at home and abroad, with Australia emerging as a key growth engine. The rally comes as analysts kept a...
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Corporate
[email protected] PETALING JAYA: Gamuda Bhd expects domestic construction projects, including hyperscale data centres, and stronger contributions from its quick-turnaround property projects (QTPS) overseas to drive earnings in the financial...
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“We do see some new bonds issuance, despite the current yield environment, so that’s why we do think that the impact is quite negligible overall.”
PETALING JAYA: The days of cheap debt may be coming to an end for Malaysian companies as global bond yields rise, but higher funding costs are unlikely to stop them from tapping the local bond market. The US Federal Reserve’s (Fed) 25-basispoint...
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Plantations
PETALING JAYA: Plantation stocks may be entering a period where the market’s expectations of higher crude palm oil (CPO) prices are increasingly being tested against actual fresh fruit bunch (FFB) production, as investors look for evidence that El Nino...
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COMPANIES & STRATEGIES
While JF Technology Bhd’s market capitalisation of Rm670mil today is less than half of its glory days, a revival seems to be under way. It has quietly evolved from merely a test socket provider for semiconductor manufacturers into what it now positions...
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Economy resilient
PETALING JAYA: Despite the uneven nature of Malaysia’s recent economic performance, the country remains on solid footing, well supported by robust headline indicators. Malaysia’s economy expanded by a stronger-than-expected 6% in the second quarter...
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Low impact on TNB from expanded power subsidy
PETALING JAYA: Tenaga Nasional Bhd’s (TNB) shares closed 0.31% higher after the national utility company said the additional cost from the expanded electricity subsidy measures would be a one-off, easing concerns over the potential impact on its...
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Finance
PETALING JAYA: A rising bond yield environment following the recent 25 basis points (bps) hike in the United States’ interest rate may be a dampener on local banks’ profit outlook in the short to medium term. ifast Capital senior research analyst for...
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Solar gold rush gets CRESS lift
PETALING JAYA: Malaysia’s decision to slash the cost of moving green electricity through the national grid could unlock billions of ringgit in new solar projects, as surging data centre demand reshapes the country’s power market. The market response...
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COVER FEATURE
RHB Banking Group is stepping up its digital push with RHB Pay, a unified online payment gateway aimed at differentiating it from peers and targeting a potential pool of about 800 merchants. However, Datuk Mohd Rashid Mohamad stresses that the human...
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Budget boost for tech sector, consumer staples expected
PETALING JAYA: Analysts have noted that while the hike in interest rates by the US Federal Reserve (Fed) was widely anticipated, the bigger concern is the surge in US Treasury yields – with the 10-year breaching 5% – making bonds more attractive than...
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Structural shift in region began more than a decade ago
KUALA LUMPUR: Malaysia has benefitted greatly from the supply-chain shift, but there are still plenty of possibilities that can capture more value. HSBC regional head of global trade solutions, Asia, Aditya Gahlaut said the structural reconfiguration...
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All eyes on a populist playbook
PETALING JAYA: Budget 2027 next month could give Malaysia’s domestic economy a lift through a combination of household handouts and infrastructure spending, with consumer staples and construction emerging as the sectors best placed to convert higher...
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The high oil price dilemma
PETALING JAYA: Consumers may be shielded from higher fuel prices at the pump, but elevated crude oil prices resulting from the latest Middle East conflict could still filter through the economy, pushing up prices as businesses manage rising...
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Property
PETALING JAYA: Ageing and potentially obsolete commercial buildings, especially within Kuala Lumpur’s central business district (CBD), have become increasingly challenging assets for owners, developers and investors, prompting greater interest in...
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23 CAPITAL MARKETS
Gold is regaining favour among some of the world’s biggest money managers, on the expectation that gold will reach US$5,000 an ounce by year-end. Major asset managers are now rebuilding positions, betting that its longer-term role as a portfolio hedge...
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Oil and gas
PETALING JAYA: A potentially higher subsidy bill due to the recent rise in Brent crude oil prices can likely make it more difficult for Malaysia to achieve its fiscal consolidation targets. This includes a potentially more challenging task towards...
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Oil and gas
PETALING JAYA: Malaysia’s efforts to diversify its crude oil supply amid global geopolitical uncertainties appear to be paying off, with the country becoming less reliant on Middle Eastern sources and increasingly tapping supplies from Africa and other...
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M’sia foreign equity ownership hits rock bottom
PETALING JAYA: Foreign ownership of Malaysian equities sank to a record low in August, as foreign investors continued heading for the exit with over Rm5.4bil in net outflows since the start of the year. Speaking to Starbiz, fund manager Danny Wong...
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Turbulent times for Airasia
PETALING JAYA: Airasia Group Bhd’s latest funding saga has drawn varied responses, with some opining that government intervention could be justified on the basis that the airline is “too big to fail”, while others express concern whether government...
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COVER FEATURE
As Selangor’s pioneer townships cross the half-century mark, the widening valuation gap between leasehold and freehold properties is emerging as a growing pain point, particularly in ageing urban areas such as Petaling Jaya. For those facing...
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Technology Power, connectivity and renewable energy gain prominence as industry matures
PETALING JAYA: Malaysia’s data-centre (DC) investment opportunities are increasingly shifting from construction-led beneficiaries towards owners of recurring-revenue infrastructure, particularly utilities, renewable energy providers and connectivity...
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Stock market
PETALING JAYA: Better corporate earnings are unlikely to translate into a stronger rally in the local market as rising global bond yields, elevated geopolitical risks and persistent foreign fund outflows continue to overshadow better company...
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Uptick in upstream activity likely in 2027
PETALING JAYA: Petroliam Nasional Bhd’s (PETRONAS) capital expenditure (capex) activities are less likely to be determined by factors like the re-escalation in the Iran war than by long-term commercial factors. The national oil company spent Rm41.4bil...
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Stock market
by KIRENNESH NAIR & VICTORIA ARUL PETALING JAYA: Malaysian corporate earnings remain broadly on track to deliver 7% to 8% growth forecast for this year, following a generally better-than-expected second-quarter (2Q) results season, although investors...
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Klang Valley residential market on the rise in 2026
PETALING JAYA: A stable interest-rate environment, steady household incomes and sustained buyer confidence are expected to support the Klang Valley residential market for the remainder of 2026. However, industry observers believe affordability will...
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PERSPECTIVES
A key priority of the MY Value Up programme is for corporates to deliver long-term value creation. While the initiative aims to help investors understand companies’ capital management strategies, selling treasury shares in the open market does not...
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Sime Darby FY26 core net profit expands 32.7%
PETALING JAYA: Sime Darby Bhd, which saw its core net profit rise 32.7% year-onyear (y-o-y) in the financial year ended June 30, 2026 (FY26), expects its core financial performance in FY27 to be “consistent” with FY26. Group chief executive officer...
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Alliance Bank delivers strong 1Q performance
PETALING JAYA: Alliance Bank Malaysia Bhd says notwithstanding its current positive momentum, it remains cautious as it navigates the environment while continuing to achieve market share gains in small and medium enterprise (SME) and consumer banking...
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Plantations
PETALING JAYA: The plantation sector could see output and yields affected by the El Nino phenomenon from next year, although the monsoon season anticipated towards the end of this year may mitigate the severity of the impact. Tradeview Capital...
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Strong improvement in Petdag 2Q results
PETALING JAYA: With geopolitical developments in West Asia continuing to influence global energy markets and the oil price outlook for the second half of 2026 (2H26), PETRONAS Dagangan Bhd (Petdag) is staying focused on executing its strategic...
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Stock market “A valid market concern is trading fragmentation, where liquidity shifts toward the deeper market.”
PETALING JAYA: While Malaysia’s upcoming dual-listing framework with Hong Kong could give domestic companies access to a deeper pool of international capital, it may not automatically translate into higher valuations, with other concerns including...
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COVER FEATURE
Behind Malaysia’s expectation-beating economic performance lies a more sobering reality, with the headline numbers telling only part of the story. Its growth potential is being held back by distortions, a large state and GLC footprint and preferential...
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Finance
KUALA LUMPUR: AMMB Holdings Bhd (Ambank) will continue to focus on growing its mid-tier corporate and small and medium enterprise (SME) loan segment, while turning more selective on retail lending, says its group chief executive officer Jamie...
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Property “While the operating environment remains dynamic, our diversified portfolio, strategic landbank and focus on catalytic townships and eco-industrial parks provide a solid foundation for long-term growth.”
PETALING JAYA: S P Setia Bhd has delivered sales of Rm864mil in its second quarter ended June 30, 2026 (2Q26) with domestic developments contributing Rm784mil, representing 91% of the total sales, while international developments accounted for the...
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Drb-hicom expects moderate FY26 outlook
PETALING JAYA: Drb-hicom Bhd anticipates a moderate outlook for the financial year ending Dec 31, 2026. For its second quarter ended June 30, 2026 (2Q26), Drb-hicom’s net profit dropped to Rm30.56mil from Rm58.09mil in the previous corresponding...
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Membership growth, contributions produce stellar 1H
PETALING JAYA: The Employees Provident Fund (EPF) has cautioned members to temper expectations for the second half of 2026 (2H26), saying the strong market opportunities that supported investment performance in the first half may not be repeated amid...
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