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Hack Your Credit Card Rewards With Credit Cycling
Credit cycling can help you in situations where you need to spend more than your limit. The post Hack Your Credit Card Rewards With Credit Cycling appeared first on iMoney Malaysia.
MoneyMalaysia Building Society Bhd changes name to MBSB Bhd
KUALA LUMPUR (June 13): Malaysia Building Society Bhd (KL:MBSB) shares will be traded under its new name, MBSB Bhd, effective next Tuesday (June 18). The stock number and stock short name remain unchanged, the group said in a bourse filing on Thursday. MBSB is the holding company of MBSB Bank Bhd, Malaysia’s second-largest standalone Islamic bank. In a circular to shareholders on April 30, the group said it has been classified as a financial...
Money1MDB-Tanore Trial: Zeti maintains that AmBank and its former MD Ashok broke rules; claims not alerted to breaches
This article first appeared in The Edge Malaysia Weekly on June 3, 2024 - June 9, 2024 AmBank and its former group managing director Ashok Ramamurthy turned a blind eye to dubious 1Malaysia Development Bhd (1MDB) transactions running into billions of dollars, which were being remitted to sham entities, former Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz testified last week, comparing the bank’s actions with Deutsche Bank’s more...
MoneyMalaysian banks’ earnings growth to decelerate in 2Q2024 as non-interest income slows — CGS
KUALA LUMPUR (June 13): Malaysian banks’ earnings growth may decelerate and grow 5%-6% in the second quarter of this year, from a year earlier, as non-interest income growth slows, CGS International flagged. Total net profit for the end-June quarter (2Q2024) will likely come in at RM8.6 billion to RM8.7 billion, slightly lower than the RM8.75 billion in the first three months of the year, CGS said in an earnings preview for the sector. Net...
MoneyPutrajaya to develop new policy for dredging and reclamation industry at ports, says Loke
PUTRAJAYA (June 13): Transport Minister Anthony Loke Siew Fook has confirmed that the government terminated the 15-year concession agreement for port dredging and reclamation works with Integrated Marine Works Sdn Bhd (IMW) for breach of contract. To end the monopoly for this segment, Loke said the ministry will not appoint a new concessionaire following this termination. Instead, a new policy will be developed to encourage the growth of the...
MoneyPriming the accountancy profession for new frontiers
This article first appeared in The Edge Malaysia Weekly on June 3, 2024 - June 9, 2024 AS technological advancements and growing sustainability consciousness are poised to reshape the accountancy industry, the Malaysian Institute of Accountants’ (MIA) annual flagship event — the MIA International Accountants Conference 2024 — aims to prime participants to be future-ready to tackle an unprecedentedly challenging business landscape. This shift in...
MoneyMPHB Cap’s assets in focus following major shareholder’s SCR plan
This article first appeared in The Edge Malaysia Weekly on June 3, 2024 - June 9, 2024 MPHB Capital Bhd (KL:MPHBCAP) has largely stayed out of the news since the sale of its insurance business to Generali Asia in 2022. But it made headlines last week as major shareholder Casi Management Sdn Bhd made an offer to privatise the company via a selective capital reduction (SCR) and repayment exercise. Still, the news was not surprising to those...
Money6 Signs That Indicate You Are Ready For Retirement
When you see these 6 signs, you are on the right track to be retirement-ready. The post 6 Signs That Indicate You Are Ready For Retirement appeared first on iMoney Malaysia.
MoneyWhat Is The Monthly Cost Of Retirement?
Depending on what you want to do in retirement, costs may go up or down. The post What Is The Monthly Cost Of Retirement? appeared first on iMoney Malaysia.
MoneySyed Mokhtar's firm buys S P Setia's Tebrau land for RM564 mil cash
KUALA LUMPUR (June 11): S P Setia Bhd (KL:SPSETIA), which previously failed to sell its 959.72-acre Tebrau land to Scientex Bhd due to Bumiputera requirement issues, has finally sold the plot to a company linked to tycoon Tan Sri Syed Mokhtar Albukhary for RM564 million cash. This sale follows two failed attempts to sell the land to Scientex Bhd (KL:SCIENTX). The first attempt was in 2021 for RM518.1 million, which fell through in March 2023 due...
MoneyEco World Development, Scientex, Cypark, Tropicana, Lim Seong Hai, KPJ, Deleum, Ageson, Managepay, PUC
KUALA LUMPUR (June 10): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday: Eco World Development Group Bhd (KL:ECOWLD) said it plans to sell a 123.14-acre industrial land in Iskandar Malaysia, Johor to a company providing data centre services, for RM402.3 million or RM75 per sq ft. The group said it had acquired the land — which forms part of the master land measuring 403.78 acres within...
MoneyEpicon faces collateral damage from MACC probe on Lagenda official
This article first appeared in The Edge Malaysia Weekly on June 3, 2024 - June 9, 2024 NEWS of the Malaysian Anti-Corruption Commission’s (MACC) probe into an unlawful subdivision of Malay reserve land in Sitiawan, Manjung, Perak, related to a senior personnel at Lagenda Properties Bhd (KL:LAGENDA) has cast a shadow on the company and its indirect affiliate, construction outfit Epicon Bhd (KL:EPICON). In an effort to prevent the collateral...
MoneyViTrox surges to two-year high post-bonus issue, after CEO Jensen Huang says it’s part of Nvidia Omniverse
KUALA LUMPUR (June 11): Shares of ViTrox Corp Bhd (KL:VITROX) climbed as much as 19% on Tuesday, extending a rally after the group posted on Facebook to highlight that it was one of the companies mentioned in Nvidia Corp chief executive officer Jensen Huang’s keynote address at Computex Taipei. By market close on Tuesday, ViTrox pared some gains to settle at RM4.85, up 60 sen or 14%, giving it a market capitalisation of RM9.17 billion. The...
MoneyPutrajaya awards LSH Capital's JV a 20-year concession for KL Tower operation
KUALA LUMPUR (June 10): The federal government has agreed in principle to grant a 20-year concession for the operation and maintenance management of Kuala Lumpur Tower to construction company Lim Seong Hai Capital Bhd (KL:LSH) and its joint venture (JV) partner. In a filing on Monday, LSH Capital said that its subsidiary, LSH BEST Builders Sdn Bhd, and Service Master (M) Sdn Bhd formed LSHBB-SMMSB JV, which received a letter from the Public...
MoneyMoF makes third attempt to sell 1MDB’s land in Pulau Indah, hopes to fetch 50% more
This article first appeared in The Edge Malaysia Weekly on June 3, 2024 - June 9, 2024 THE government is making what appears to be the third attempt in nine years to dispose of a large tract in Pulau Indah in Klang, Selangor. The 1Malaysia Development Bhd (1MDB)-owned land, which has been designated as a free trade zone (FTZ), may be able to fetch as much as RM559 million. The government, via the Ministry of Finance (MoF), had previously tried...
MoneyThe State Of The Nation: Reforms key to uphill task of turning ‘brain drain’ into ‘brain gain’
This article first appeared in The Edge Malaysia Weekly on June 3, 2024 - June 9, 2024 IN discussing recently the debt burden caused by student loans in Malaysia, Khazanah Research Institute (KRI) raised eyebrows when recommending that more graduates should be induced to work abroad. The logic is simple: Overseas employment expands opportunities for graduates caught by the limitations of a local job market that is struggling to fully accommodate...
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