StarBiz
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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Google targets 120% freshwater replenishment
KUALA LUMPUR: A single job created directly inside Google’s upcoming Us$2bil (Rm9.4bil) data centre (DC) in Selangor will generate nine additional jobs across the local economy. That powerful one-to-nine employment multiplier lies at the heart of the...
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LIFESTYLE
The tiny Italian Mediterranean island of Favignana hopes that Christopher Nolan’s blockbuster “The Odyssey” will help it attract more visitors, while avoiding the pitfalls of overtourism.
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Robust e&e demand to support growth momentum
PETALING JAYA: The second quarter of financial year 2026 (2Q26) economic growth is likely to come in close to the Statistics Department’s advance estimate of 5.8%, although stronger-than-expected economic indicators have raised the possibility of an...
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Property
PETALING JAYA: Sunway real estate investment trust (Sunway-reit) expects its performance to remain resilient in the second half of financial year 2026 (2H26), underpinned by continued strength in its retail portfolio, improving hotel demand and better...
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First-half cheer for SD Guthrie
PETALING JAYA: SD Guthrie Bhd remains positive on its outlook for 2026 after posting a net profit of Rm1.55bil in the first half of the year ended June 30, 2026. The jump in profitability, up 44% from the same period in 2025, was owing to higher...
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Economy
[email protected] PETALING JAYA: Budget 2027 may be the toughest yet for Prime Minister Datuk Seri Anwar Ibrahim, as he confronts a difficult trade-off between critical fiscal reforms and election goodies to prop up his popularity, ahead...
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“For us, it is not just about financing a single project but demonstrating how to fund nextgeneration infrastructure in an innovative and scalable way.”
PETALING JAYA: The world’s first green sukuk developed for data centre (DC) infrastructure could pave the way for more sustainable financing of digital infrastructure projects, according to the Asian Development Bank (ADB), which says the deal...
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COVER FEATURE
Medical technology has quietly grown into a global strength for Malaysia. From a modest base, the sector has expanded rapidly, with the country now home to about a third of global medical device multinationals. The industry’s growth was helped by...
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Exports to remain resilient
PETALING JAYA: Malaysia’s export outlook appears set to remain resilient despite the United States’ latest tariff measures, with economists expecting the country’s semiconductor-led trade to weather the impact better than many of its regional...
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Shifting sands in consumer stocks
PETALING JAYA: The consumer sector appears to be going through a prolonged period of rather compressed valuations compared with its historical means. Various factors have been cited for the cause of this situation and how it could play out in the near...
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K-shaped economic growth expected to persist
KUALA LUMPUR: The government must restructure personal tax brackets and raise individual reliefs in Budget 2027 to address a widening middle-income squeeze and preserve consumer resilience, says the Socio-economic Research Centre (SERC). Highlighting...
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Bond fundraising likely to gain traction
PETALING JAYA: Growing global appetite for Malaysian credit is expected to pave the way for more fundraising by the government and large corporates, as international investors seek relatively stable assets amid heightened global economic...
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“The conversation should move beyond the question of whether financing is available, to whether it is reaching the businesses that need it most, and in a form that suits their circumstances.”
PETALING JAYA: Close to four out of every five financing applications by small and medium enterprises (SMES) were approved between January and May 2026, according to Bank Negara Malaysia (BNM). In an interview with Starbiz, the central bank’s...
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CAPITAL MARKETS
The US technology sector is entering a new phase of the artificial intelligence investment cycle, one where investors are no longer willing to give Big Tech a free pass on soaring capital expenditure.
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Bursa posts robust 1H showing
PETALING JAYA: Bursa Malaysia Bhd’s total market capitalisation rose 11.2% yearon-year to RM2.12 trillion as at end-june, despite heightened global market volatility, driven largely by an increase in the Main Market’s market capitalisation to RM2.04...
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Alliance Bank upbeat on Fy27 showing
KUALA LUMPUR: Pre-emptive measures by both Alliance Bank Malaysia Bhd and the government have helped mitigate the external uncertainties stemming from geopolitical and trade tensions. Alliance Bank group chief executive officer Kellee Kam said as a...
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Transformation gains ground
KUALA LUMPUR: The economy remains on track to expand by 4% to 5% in 2026, with growth likely to come in towards the upper end of the forecast range, according to Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour. He said the...
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Limited impact from latest US tariffs
PETALING JAYA: The latest round of tariffs imposed by the United States is seen to be less disruptive to Malaysia’s economy than initially feared, with economists saying the new 10% Section 301 forced labour tariff will likely have only a manageable...
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DC boom reshapes property market
PETALING JAYA: Malaysia’s rapid rise as a regional data centre (DC) hub is transforming the country’s property market, fueling demand for industrial land, accelerating infrastructure development and driving greater investment in logistics, utilities...
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COVER FEATURE
Malaysian corporates are reviving capital expenditure (capex) plans across key sectors as earnings visibility improves and economic conditions stabilise. While the investment recovery remains uneven, the capex revival could signal a new phase of...
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Capital market push
PETALING JAYA: Malaysia’s drive to attract higher-quality investments will be bolstered by deeper access to international capital, with the country looking to leverage on Hong Kong’s financial markets to help fund high-value industries and major...
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Sara increase a boon for consumer companies
PETALING JAYA: A potential increase in targeted cash assistance is expected to provide a further boost to domestic consumption, particularly for spending on essential goods, if additional allocations are approved. While the direct earnings impact on...
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Fewer tourists likely in 2H
PETALING JAYA: The tourism sector is expected to see slower visitor growth in the second half of 2026 (2H26), but stronger spending by higher-value tourists from key markets such as China, Indonesia and India is expected to help support tourism...
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Sunway wins Rm7bil S’pore development site
JAYA: Singapore’s Urban Redevelopment Authority has awarded a consortium, in which Sunway Bhd holds a 30% stake, a 99-year lease-term site at Bayshore Drive in Singapore for S$2.13bil (Rm6.74bil). In a filing with Bursa Malaysia, Sunway said the land...
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SEBZ can unlock growth
PETALING JAYA: The proposed Malaysiathailand Special Economic Border Zone (SEBZ) may achieve its goal of becoming a new cross-border growth engine. However, economists say its success will ultimately depend on whether both countries can move beyond...
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CAPITAL MARKETS
China’s markets are increasingly being viewed as a source of diversification rather than simply a high-growth emerging market bet. This comes as investors reassess portfolio strategies amid persistent geopolitical uncertainty, volatile global markets...
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Core inflation, oil price trends are key
PETALING JAYA: With the Statistics Department set to release the consumer price index (CPI) data for June today, economists are voicing concerns that prices could face upside risks, as focus falls on core inflation rather than headline...
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