Malaysia Financial News

January

organisations have so far confirmed to be partners for the upcoming Vibrant Gujarat Global Summit (VGGS) 2024, the state government said on Saturday. The 10th edition of VGGS, based on the 'Gateway to the Future' theme, will be organised in Gandhinagar from January 10 to 12.

India and the Philippines in the disputed South China Sea, the Chinese military on Thursday said defence cooperation between different countries should not harm the interests of third countries and regional peace. Answering a question from Chinese official media about naval exercises between an Indian naval ship and the Philippines naval vessel besides plans by France to hold naval and air drills with the Philippine Navy, Spokesman of the Chinese Defence Ministry Senior Col Wu Qian said China has taken note of the reports.

Aceh province. The Indonesian navy said a coast guard vessel detected a boat carrying Rohingya refugees entering Indonesia's waters on Wednesday. A helicopter from a navy ship subsequently spotted a wooden vessel nearing Weh island in north Aceh province.

NEW DELHI : Macquarie Group’s sale of 400 megawatts (MW) solar power projects of its Stride platform has drawn interest from three entities, with the potential deal likely to have an equity value of around $300 million, signalling continued interest in India’s green energy sector. According to two people familiar with the matter, Gentari Sdn Bhd, a subsidiary of Malaysia’s state-run Petronas; private equity firm Actis Llp; and Sekura Energy Ltd, backed by Edelweiss Infrastructure Yield Plus Fund, have shown interest in Stride. Bank of America Corp.

Xi Jinping has promoted two naval officers, including a submarine expert, as top naval commanders which involves the Chinese navy's operations in the disputed South China Sea. Xi, who is also the chairman of the powerful Central Military Commission (CMC), the overall high command of the armed forces besides being the President and head of the ruling Communist Party, has presented certificates of order to promote two military officers to the rank of General, official media reported on Tuesday. General is the highest rank for officers in active service in China.

Malaysia Airlines flight MH370 could be solved soon. It may bring to an end what is regarded as one of the most perplexing aviation mysteries of all time. It all began on March 8, 2014, when the Malaysia Airlines passenger jet with 227 passengers and 12 crew members onboard vanished. It was a normal flight from the Malaysian city of Kuala Lumpur to the Chinese capital Beijing. The flight was commanded by senior pilot Zaharie Ahmad Shah, and first officer, Fariq Hamid and everything seemed perfect for the first 40 minutes of Flight MH370. But the flight lost contact and went out of radar all of a sudden.

TOKYO (Reuters) — Toyota Motor (NYSE:TM)'s small car unit Daihatsu Motor will compensate 423 domestic suppliers with which it has direct business relations as its plants in Japan remain idled due to a safety scandal, a spokesperson said on Monday.

Chinese state media accused the Philippines on Monday of repeatedly infringing on China's territory in the South China Sea, spreading false information and colluding with extraterritorial forces to cause trouble. The Philippines has relied on U.S. support to continually provoke China, with such "extremely dangerous" behaviour seriously harming regional peace and stability, China's Communist Party mouthpiece, the People's Daily, wrote in a commentary on Monday.

Toyota Motor Co. halted shipments of six car models in some Southeast Asian countries as its subsidiary Daihatsu Motor Co. faces a widening safety scandal, the Yomiuri reported without citing sources.

rupee posted its biggest weekly loss in over two months, even as it closed stronger on Friday tracking a rise in its Asian peers and aided by dollar sales from large foreign banks. The rupee ended at 83.14 against the U.S. dollar, compared to its previous close at 83.2775. The rupee's gains on Friday were aided by dollar sales from two large foreign banks, likely on behalf of custodian clients, a foreign exchange at a private bank said. For the week, however, the currency declined 0.16%, its worst week since Oct.

National Geographic in its documentary 'Drain The Oceans' has tried to unravel the mystery over the sudden disappearance and ultimate crash of MH370 flight over the Indian Ocean in March 2014. The Kuala Lumpur-Bejing flight went missing after it lost contact with radar control. Soon after the take-off, MH370 gave a radio transmission from the cockpit as it said goodbye to Malaysian air traffic controllers. It said, «Goodnight, Malaysian Three Seven Zero.» It proved to be a chilling and final message.

Asian buyers, who are scrambling for cheaper alternatives, particularly as New Delhi is unlikely to lift the curbs before general elections next year. The world's biggest exporter of onions banned shipments on Dec. 8 after domestic prices more than doubled in three months following a drop in production. Now retail shoppers from Kathmandu to Colombo are struggling with high prices, since traditional Asian buyers, such as Bangladesh, Malaysia and Nepal, and even the United Arab Emirates, rely on imports from India to bridge domestic gaps.

NEW DELHI : Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, on Monday announced a complete integration of the acquired Vitaris’ biosimilars business in 120 countries, a year ahead of schedule. The firm had acquired the American pharmaceutical company’s biosimilars business in November 2022.

₹6999 to ₹1,00,000 per annum. Simultaneously, the company is also working on expanding in South East Asia and has launched operations in Malaysia this year.

Biocon Biologics completes integration of Viatris' biosimilar business in 120 countries Biocon Biologics on Monday said it has completed integration of the acquired Viatris' biosimilar business in 120 countries, a year ahead of schedule. The company said over 10 emerging markets along with Japan, Australia and New Zealand have transitioned in this final phase of the integration of the biosimilars business acquired from Viatris. With the completion of this significant milestone, Biocon Biologics is now a fully integrated ‘lab to market’ biosimilars company committed to serving millions of patients across the globe. Around 70 emerging markets were integrated in July, the North America business transitioned in September and the European business in November. Biocon Biologics has made several key leadership appointments, built new capabilities and infrastructure from the ground up and set up dedicated teams to address the growing needs of patients and customers through self-led and partner or distributor-led commercial models. Biocon Biologics will now have a commercial footprint across 120 countries with a direct presence in the US, Canada, Europe and 9 key emerging market countries, namely India, UAE, Saudi Arabia, Morocco, South Africa, Brazil, Malaysia, Thailand, and the Philippines.

Travelopedia 2023 on Monday. The company said Travelopedia 2023 draws insights from Oyo’s global booking data and unveils key trends that have shaped travel experiences for its over 93 million users across India, UK, US, Germany, Denmark, Belgium, Netherlands, Indonesia, Malaysia, and the rest of Asia and Europe, spanning January 1 to December 1, 2023. As per the report, Hyderabad emerged as the most booked city in India followed by Bengaluru, Delhi, and Kolkata.

visa-free destinations as their ideal choice of international destination. As per MakeMyTrip, countries that removed visa requirements for travelers from India have seen over 30 percent positive uptick in terms of searches and bookings. Ahead of the Christmas vacation, several Asian countries including Malaysia, Thailand, Vietnam, Sri Lanka have recently announced that they are implementing visa-free entry for visitors from India and other countries.

vegetable oils import declined by 25 per cent to 11.60 lakh tonne in November, the first month of the 2023-24 oil year, compared to 15.45 lakh tonne in the year-ago period, industry body SEA said on Friday. Of the total vegetable oil imports, edible oils were 11.48 lakh tonnes and non-edible oils 12,498 tonnes during November 2023. India, the world's leading vegetable oil buyer, imports refined and crude vegetable oils in the edible oil category.

Meta and China's TikTok restricted a record number of social media posts and accounts in Malaysia in the first six months of 2023, data published by the firms showed, amid a jump in government requests to remove content. Malaysia Prime Minister Anwar Ibrahim's administration, which came to power in November 2022 on a reformist platform, has faced accusations of backpedaling on its promises to protect freedom of speech amid increased scrutiny of online content in recent months.

policy environment in 2024 have boosted most Asian currencies versus the dollar, but the rupee's gains have paled in comparison as the Indian central bank looks to build a reserves buffer and preserve export competitiveness amid a global scarcity of the greenback. On Thursday, the rupee closed at 83.3275 per US dollar, just 0.09% stronger than 83.4025/$1 at previous close. Meanwhile, currencies such as the Thai baht and the South Korean won notched up gains of around 2% versus the US dollar on Thursday while the Indonesian rupiah strengthened 1%, Bloomberg data showed. The Malaysian ringgit, the Taiwanese dollar, the Chinese yuan, the Philippine peso, and the Singapore dollar also outstripped the rupee's gains on Thursday, with the domestic currency extending the underperformance it showed versus its Asian peers last month.