Malaysia Financial News

Harimau Shakti 2023." This joint bilateral training exercise, held at Umroi Cantonment in India, aims to strengthen military capabilities and enhance the synergy between the two nations. According to an official release from the Public Relations Officer (PRO) Defence, Guwahati, «Ex HARIMAU SHAKTI-2023, a joint exercise between India and Malaysia, is progressing with full steam, covering the vast canvas of multi-domain OP in sub-conventional environment.» The exercise is being conducted at the Foreign Training Node, Umroi Cantonment, India, from October 23, 2023, and will conclude on November 5, 2023, it said. As per the release, «With the aim of achieving interoperability, the personnel of both armies were put into exercise for the past week. Both contingents were put on combat conditioning and tactical training, which included firing drills and 'battle hardening' work sessions.» Special emphasis was given on special training of troops in jungle to include Hellebore operation, Rock Climbing, Jungle Survival techniques, reflex shooting and employment of snipers, IED and counter-IED drills, AMAR (Army Marshal Art Routine) etc. As per the release, Indian contingent took the opportunity to get acquainted with the operational procedures and drills of Malaysian Contingent and vice versa. The joint training would culminate in a 48 hours' validation exercise which aims to rehearse & validate the tactical drills in simulated sub conventional environment. In the Exercise Harimau Shakti -IV 2023, the Command Post Exercise (CPX) a table top planning, event focused on unit commanders and staff officers' abilities of operational plan formulations.

New Delhi: Amplus founder Sanjeev Aggarwal and I Squared Capital have come together again to set up a climate solutions platform—Hexa Climate Solutions—which will focus on renewable energy, water and carbon oxides; wherein the New York-based private equity fund will invest around $500 million, said two people aware of the development. New York-based I Squared Capital is no stranger to India’s green economy and invested $150 million in Amplus Energy Solutions Pvt. Ltd in April 2015.

Harvey Norman, Australia’s largest white goods and home retailer, says pre-tax profits have halved in the first three months of the new financial year as sales momentum deteriorates faster than the market expected.

Unilever said it will cut product prices in India in a few categories, such as soaps and laundry, to pass on the benefits of lower commodity prices, boost volumes and compete with local entrants. The maker of Lux soap and Surf Excel detergent also said the Indian market is seeing a gradual recovery, led by urban areas, but the rural market has remained subdued. «I don't expect that we will have deflation other than in a couple of areas,» Unilever CFO said. «It (deflation) is possible in India because a couple of our categories — fabric cleaning and skin cleansing — are very heavily correlated to the underlying commodity prices and (have seen) local competition re-enter the market.

KUALA LUMPUR (Reuters) -Malaysia's communications minister warned on Thursday he could take firm action if social media firms TikTok and Meta are blocking pro-Palestinian content on their platforms.

Tiktok and Meta for allegedly blocking pro-Palestinian content on their platforms, its communications minister said on Thursday. «If this issue is ignored, I will not hesitate to take a very firm approach and stance,» Fahmi Fadzil said in a posting on X, formerly known as Twitter.

Environmentalists have slammed Malaysia's move to let Australian miner Lynas import and process rare earths until March 2026

Lynas Rare Earths has won a reprieve from Malaysia to operate its flagship refinery which produces key ingredients for wind turbines, electronics, and military applications.

Malaysia’s government says it will allow Lynas Rare Earths to continue to import and process rare earths until March 2026

Rajnath Singh arrived on a two-day visit to Assam and Arunachal Pradesh on Monday. During his visit, he will interact with the security personnel deployed in the Tawang sector in Arunachal Pradesh on Dussehra. Taking to 'X', (formerly Twitter), Singh wrote, «Today, 23rd October, I shall be reaching Tezpur on a 2 day visit to Assam & Arunachal Pradesh. During my visit, I will interact with Armed Forces personnel deployed in the region and also visit forward areas». «Looking forward to celebrating Dussehra with the soldiers in Tawang», he added. Singh had visited the Tawang sector early this year as well. On December 9 last year, the Chinese troops transgressed the Line of Actual Control (LAC) in Tawang sector.

BEIJING/MANILA (Reuters) -China and the Philippines traded accusations over a collision in disputed waters of the South China Sea as Chinese vessels blocked Philippine boats supplying forces there on Sunday in the latest of a series of maritime confrontations.

Lynas Rare Earths reported a 21.8 per cent fall in first-quarter revenue, dragged down by lower production, and is preparing to shut down all bar one of its operations in Malaysia in the December quarter.

JSW Energy on Friday posted an 82 per cent rise in its consolidated net profit to Rs 850 crore for the September quarter on the back of higher revenues. «Profit After Tax (PAT, or consolidated net profit) was Rs 466 crore in the corresponding period of previous year,» a company statement said.

Australian miner Lynas Rare Earths says it will temporarily shut down most of its operations in Malaysia for upgrades while dealing with a legal battle with the Malaysian government over its operating license

By Byron Kaye

2034 World Cup, Indonesian soccer leader Erick Thohir said on Wednesday that his federation now supports Saudi Arabia. Thohir's change of plan was detailed in a statement on the Indonesian soccer federation website hours before an online meeting of the Asian Football Confederation, whose 47 members include Australia, Indonesia and Saudi Arabia. During the meeting, FIFA President Gianni Infantino urged AFC members to «be united for the 2034 World Cup.» Infantino has long been a close ally of Saudi soccer and the kingdom's Crown Prince Mohammed bin Salman, and FIFA's surprise decision two weeks ago to fast-track bidding for the 2034 men's tournament was seen as favourable for them.

KFin Technologies (KFin) have risen 25 percent to currently trade at ₹457 from its IPO price of ₹366. On the back of strong returns and bullishness of the management over their overseas expansion plans, brokerage house Jefferies has retained its ‘buy’ call on the stock and raised its target price to ₹560 from ₹500 earlier. The new target implies a potential upside of over 22 percent.

Filipino officials say Canada will help the Philippines detect illegal fishing with its satellite surveillance system under a new agreement

Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as CEO at Alameda under Bankman-Fried’s direction. However, she blamed the misuse of FTX user funds directly on SBF, claiming he “set up the systems” that led to Alameda taking roughly $14 billion from the exchange.

Malaysian energy major Petronas, Indonesia's renewables firm Sun Energy and global commodities company Vitol are in talks to acquire TPG Capital's Rise Fund-backed Fourth Partner Energy, a renewables company that supplies green energy to commercial and industrial establishments, said two sources aware of the development. The majority stake sale is likely to value the company's equity base at around $450-$500 million, the sources said. TPG, which owns close to 50% stake in the business, is looking to completely exit the company through this transaction, the sources added.

Iran on Monday said time was running short to reach a political solution in the Israel-Gaza conflict, warning of the «possibility of expanding the scope of war and conflict to other fronts». Israel declared war on the Palestinian Islamist group Hamas a day after waves of its fighters broke through Gaza's heavily militarised border with Israel on October 7 and shot, stabbed and burned to death over 1,400 people, most of them civilians. Israel has responded by pummelling the Gaza Strip with non-stop air and artillery strikes that have flattened neighbourhoods and killed at least 2,750 people in Gaza, mostly civilians. Iran celebrated the Hamas assault but insisted it was not involved. Iranian President Ebrahim Raisi on Monday held phone calls with his Russian and Turkish counterparts, during which he «warned against the continuation of crimes by the Zionist regime», the president's political deputy, Mohammad Jamshidi, said on X, formerly Twitter. During his phone call with Russian President Vladimir Putin, Raisi warned of a «possibility of expanding the scope of war and conflict to other fronts». «If this happens, it will be more difficult to control the situation,» Raisi said, according to state news agency IRNA. Iran's Foreign Minister Hossein Amir-Abdollahian meanwhile «stressed that time is running out for political solutions» to the conflict, according to a post on X. He added that he told his counterparts in Malaysia, Pakistan and Tunisia that the «probable spread of war to other fronts is approaching an inevitable stage». His remarks come as Israel readies for a land invasion into the long-blockaded Gaza Strip, where fears for Palestinians trapped in the heavily-bombarded enclave have grown since Israel