Malaysia Financial News

Penfolds owner Treasury Wine Estates was hit with a 46 per cent protest vote over executive pay on Monday after the board allowed share-based incentives to chief executive Tim Ford on the basis that no-one could have foreseen the heavy profit drop from punishing wine tariffs imposed by China.

Malaysian Prime Minister Anwar Ibrahim says subsidies will be progressively cut and new taxes launched next year as part of the 2024 federal budget

palm oil imports in September fell 26% from the previous month to 834,797 metric tons, the lowest in three months, as higher inventories prompted refiners to curtail purchases, a trade body said on Friday. Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures. Imports of soyoil edged 0.1% higher to 358,557 tons and those of sunflower oil were down about 17.8% at 300,732 tons, the Mumbai-based Solvent Extractors' Association of India (SEA) said in a statement. Vegetable oil imports fell about 17% to 1.55 million tons from last month's record purchases of 1.87 million tons, it added. «India imported more than necessary during July and August, but retail demand in the country is weak. Refiners are now struggling to sell imported oil,» said a Mumbai-based edible oil trader. In recent months, India has emerged as a primary destination for surplus oil supplies due to its lower import duty of 5.5% on crude palm oil, crude soybean oil, and crude sunflower oil, said B.V.

KUALA LUMPUR (Reuters) — Short video app TikTok is committed to taking proactive measures to address issues raised by Malaysia, a spokesperson said, after its government said the application was not fully compliant with local laws.

The Malaysian government has questioned a move by Goldman Sachs to file for arbitration in a dispute connected with the multibillion-dollar looting of a sovereign wealth fund

Malaysian budget carrier MYAirline has abruptly suspended operations less than 11 months after it took to the skies

In 2020, Goldman Sachs agreed to pay the Malaysian government $2.5bn in settlement for its involvement in the multibillion-dollar embezzlement scheme.

Richard Champion (pictured) has been with CGWM UK since 2015 as deputy CIO.

KUALA LUMPUR (Reuters) — A Malaysian government task force said on Thursday it viewed Goldman Sachs' filing of arbitration proceedings as premature, after the firm sued Malaysia in a British court this week amid an escalating dispute over a 2020 settlement deal.

KUALA LUMPUR (Reuters) — Short video app TikTok's compliance with Malaysian laws is unsatisfactory, the country's communications minister Fahmi Fadzil said on Thursday.

Thailand's prime minister says Malaysia’s national carmaker Proton and its Chinese partner Geely are considering setting up a plant in Thailand to produce electric vehicles

(Reuters) -Goldman Sachs Group is suing Malaysia in a UK court, a source familiar with the matter told Reuters, as tensions escalate over a settlement linked to its role in the 1MDB investment-fund scandal.

By Jamie McGeever

The Malaysia-based Hata has received in-principle approval from Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. The approval means Hata could launch its services in six to nine months.

The Malaysian financial regulator – Securities Commission Malaysia (SC) – has granted in-principal approval to cryptocurrency exchange and digital broker Hata.

Indonesia is in discussions with Australia about a possible joint bid to host the 2034 World Cup along with Malaysia and Singapore, the president of the country's football federation (PSSI) said on Wednesday. World football's governing body FIFA invited member associations from Asia and Oceania to bid for the rights to the 2034 edition last week. «We are discussing (a bid) with Australia,» PSSI President Erick Thohir was quoted as saying by the Sydney Morning Herald. «When I visited Malaysia and Singapore both countries expressed interest to join Indonesia and Australia.» When asked for comment on a possible joint bid, Football Australia referred Reuters to a statement last week that said it was «exploring the possibility of bidding for the 2029 FIFA Club World Cup and/or the FIFA World Cup 2034». The PSSI has not responded to a Reuters request for comment. After announcing Spain, Morocco and Portugal would host the 2030 World Cup, with Uruguay, Paraguay and Argentina staging the opening games, FIFA invited Asia and Oceania to bid for 2034. Saudi Arabia quickly announced its intention to bid for the hosting rights and FIFA have set a deadline of Oct. 31 for other interested parties to make their intentions known. With Qatar having hosted the 2022 edition, Thohir said it might be too soon for the World Cup to return to the Middle East. «We are quite strong,» he said.

Nearly 50% of digital asset users view added financial liquidity as a major reason for investing in cryptocurrencies, a new survey shows.

Approximately 50% of crypto users are investing in digital assets to improve their everyday living standards.

By Jonathan Stempel

True North has agreed to invest $75 million for a minority stake in US-based digital transformation solutions provider iLink Digital. The investment, made by True North’s $600-million (around Rs 4,200 crore) Fund VI, is aimed at expanding iLink Digital’s organic and inorganic growth in the IT services space.

Japanese Agriculture Minister Ichiro Miyashita says Tokyo hopes to resolve the issue of Chinese ban on its seafood within the World Trade Organization's scope