Money & Finance

Singapore sovereign wealth fund GIC Pte Ltd has purchased a 16% stake in Sunway Healthcare Holdings through Greenwood Capital, investing RM750 million. The transaction involves share subscription and convertible preferred shares, signaling strategic interest in healthcare investment.

The World Bank has lowered Malaysia's GDP growth projection to 4.5% in 2021, down from the previous 6%, due to the resurgence of COVID-19 infections. The reduction reflects slower pandemic containment and vaccination efforts, raising concerns about the country's health system capacity and economic recovery.

Bank Negara Malaysia's international reserves increased to US$111 billion, with foreign exchange reserves of US$99.6 billion. The central bank's reserve position can fund 1.2 times imported goods and cover 8.5 months of short-term foreign debt, demonstrating strong financial resilience.

Despite the Biden government's call for the closure of domestic semiconductor manufacturing. GlobalFoundries Inc will build a US$4 billion (RM16.4 billion) chip factory in...

Singapore and Vietnam are working to accelerate joint efforts in developing digital economy partnerships. Foreign Affairs Minister Vivian Balakrishnan met with Vietnamese counterpart Bui Thanh Son to discuss bilateral cooperation, including health certificate recognition and travel resumption between the two nations.

Several major Malaysian companies including Petronas, SEA Ltd, Genting, and YTL Corp are preparing to apply for digital banking licenses as Malaysia opens its financial industry to technological innovation. Consortiums are forming to strengthen license applications in this competitive landscape.

Maybank Investment Bank (Maybank IB) secured top honors in investment banking categories at the FinanceAsia Country Awards and Alpha Southeast Asia best FI awards. The bank won "Best Investment Bank", "Best ECM House", "Best DCM House", "Best Bond House", and "Best Institutional Broker in Malaysia" for 2021.

IJM Corp has agreed to sell its entire 56.2% stake in IJM Plantations to KLK for RM1.53 billion in cash, or RM3.10 per share. The transaction requires shareholder and creditor approval at an extraordinary general meeting. IJM will remain entitled to a 10 cents per share dividend.

Bank Negara Malaysia and Bank of Thailand have launched a cross-border QR payment linkage, allowing shoppers and traders in both countries to create and receive instant cross-border QR code payments through their respective real-time retail payment platforms.

Malaysia keeps Crude Palm Oil export tax at 8% for July, with a reference price of RM4,668.15 per ton, reflecting the country's significant role in the global palm oil market.