Corporate News

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KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

Property

Speculation a factor in rocketing home prices

HANOI: Speculation and manipulation are among factors which have inflated housing prices in major cities recently, in addition to increases in land-related costs and limited supply, according to the Construction Ministry.

Property

PKNS to launch property projects worth RM1.5bil

CYBERJAYA: The Selangor State Development Corp (PKNS) is set to launch 12 projects with a gross development value (GDV) of RM1.5bil next year, reflecting its commitment to advancing Selangor’s property market, says group chief executive officer Datuk Mahmud Abbas.

Economy

US$300bil COP29 climate deal criticised

BAKU: Countries at the 29th Conference of the Parties (COP29) summit in Baku, Azerbaijan adopted a US$300bil a year global finance target on Sunday to help poorer nations cope with impacts of climate change, a deal its intended recipients criticised as woefully insufficient.

Economy

Developers advised to embrace RE

KUALA LUMPUR: The government has called on stakeholders, particularly housing developers, to adopt alternative energy sources such as solar power and prioritise biodiversity, Deputy Prime Minister Datuk Seri Fadillah Yusof says.

Corporate News

Rackson Group unveils RM1.5bil project in Bayan Lepas

GEORGE TOWN: Rackson Group has unveiled a landmark project in Bayan Lepas, featuring Le Meridien Penang Airport and Avion Serviced Apartments.

Corporate News

Unique Fire posts strong performance for 1H25

PETALING JAYA: Fire-extinguisher manufacturer Unique Fire Holdings Bhd, which achieved its highest quarterly earnings in its second quarter ended Sept 30 (2Q25), continues to focus on expanding its reach across Peninsular Malaysia and diversifying its product offerings.

Economy

IMF approves third review of Sri Lanka’s bailout

COLOMBO: The International Monetary Fund (IMF) has approved the third review of Sri Lanka’s US$2.9bil bailout, but warned that the South Asian economy remains vulnerable.

Forex

US dollar on longest winning run in a year on Republican victory

NEW YORK: The US dollar posted its longest weekly advance in over a year as Donald Trump’s presidential victory and persistent economic growth pushed traders to boost their bets on further US dollar gains.

Auto

China’s NEV boom boon for global auto sector - Global players eyeing opportunities in promising market

SHANGHAI: As the new energy vehicle (NEV) boom continues in China, global players in related sectors are eyeing a vast array of opportunities and are exerting efforts to tap into this promising market.

Corporate News

Adani shock exposes ESG fund managers clinging to ‘terrible’ bet

SINGAPORE: Environmental, social and governance (ESG) fund managers have once again found themselves on the wrong side of a market meltdown.

Economy

Norway’s US$1.8 trillion fund sees rare political unity as key

LONDON: Norway’s US$1.8 trillion sovereign wealth fund benefits from a rare consensus among its political masters, according to chief executive officer Nicolai Tangen, unlike other countries which are exploring such an option.

Economy

Saudi Arabia gets first Moody’s rating upgrade

RIYADH: Saudi Arabia’s sovereign rating was upgraded by Moody’s Investors Service for the first time since the company initially assessed it in 2016, driven by continued progress in the kingdom’s economic diversification and a better outlook for the non-oil sector.

Aviation

Vietjet launches Hanoi-Kuala Lumpur route

KUALA LUMPUR: Vietnam’s largest private carrier, Vietjet, has announced a new direct service connecting Hanoi and Kuala Lumpur, which is expected to foster economic, cultural and tourism ties between Vietnam and Malaysia as well as across South-East Asia.

Corporate News

Adani Group could find funding harder after US indictment

NEW DELHI: Gautam Adani’s conglomerate could find it harder to get funding following a US arrest warrant for its billionaire founder, with some banks considering halting fresh credit to the Indian group due to an alleged US$265mil bribery scheme.

Corporate News

Google, Microsoft hail country’s AI approach

KUALA LUMPUR:; Google has applauded Malaysia’s approach to building artificial intelligence (AI) infrastructure under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, with the technology giant investing US$2bil in the country.

Economy

Malaysian Economic Forum set to take place in January 2025

KUALA LUMPUR: The Economy Ministry will host the Malaysian Economic Forum 2025 (FEM2025), focusing on high-impact sectors and Malaysia’s economic prospects within Asean and on the global stage.

Corporate News

LinkedIn to help Chinese companies expand global presence

SHANGHAI: With an increasing number of Chinese companies eager to expand their global footprint, LinkedIn, a California-based professional networking platform provider, will offer more tailored solutions to help them capitalise on this trend, says an executive.

Investment

Fund manager scores double on Trump victory

NEW YORK: As a money manager, Scott Bessent’s years of inconsistent performance have contributed to a nearly 90% decline in his hedge fund’s assets.

Economy

COP29 – How does US$300bil stack up?

COUNTRIES agreed at the United Nation’s (UN) COP29 climate conference to spend US$300bil on annual climate finance. Here are some ways of understanding what that sum is worth: