najib razak


Khazanah’s investment playbook set for revamp under Mahathir’s Malaysia


KUALA LUMPUR (Aug 2): Malaysia’s Khazanah Nasional will likely cut stakes in some top state-linked firms as the government overhauls the sovereign wealth fund’s investment strategy, after revamping its board last week, to boost transparency and slash national debt. The performance of the $39 billion fund has been muted, but backed by past governments, its investments have spread across various sectors globally, with one of the highlights being its profitable stake in Alibaba (BABA.N) bought before the e-commerce giant’s blockbuster IPO in 2014. New Prime Minister Mahathir Mohamad is keen toRead More

Guan Eng says Najib aware of exact cost for LRT3

KUALA LUMPUR: Finance Minister Lim Guan Eng said the former Prime Minister Datuk Seri Najib Razak was aware of the exact cost of the Light Rail Transit Line 3 (LRT3).

Lim, who was speaking at a special luncheon during the Associated Chinese Chambers of Commerce and Industry of Malaysia's (ACCCIM) AGM today, said that Najib had attended the meetings.

Last week, Lim announced that the final cost for LRT3 has been reduced by 47% from RM31.65 billion to RM16.63 billion, saving Malaysians a total of RM15.02 billion.

“It looks like a miracle but it's not because the original cost was overstated,” he said, adding that the project must go ahead as traffic will worsen.

BNM seen holding key rate on easing inflation, steady growth

KUALA LUMPUR, July 9 — Malaysia’s central bank is expected to leave its benchmark interest rate unchanged at a meeting on Wednesday, as growth remains firm and a short-term dip in inflation is expected after the new government removed a…

External headwinds create uncertainties in the market, say analysts

KUALA LUMPUR, July 8 — Prevailing external factors will continue to plague regional equity markets including Malaysia, creating uncertainties and causing fund managers to stay on the sidelines. Rakuten Trade Sdn Bhd Head of Research Kenny Yee said…

Mahathir says will raise ‘unfair’ contracts in visit to China

KUALA LUMPUR: Malaysian Prime Minister Tun Dr Mahathir Mohamad said yesterday the ‘unfairness’ of contracts for Beijing-backed projects would be a key issue he would raise during a visit to China next month. Mahathir, who came to power in May following a stunning election defeat for then prime minister Najib Razak, is reviewing major projects […]

US firms in Penang to stay, envoy says after Najib court cases

GEORGE TOWN, July 5 — American companies based in Penang will not be returning home despite the US presidential tax break offer and the change of government in Malaysia. US Ambassador to Malaysia Kamala Shirin Lakhdhir gave an assurance that her…

Most Asian currencies firm, yuan bounces as PBOC soothes markets

SINGAPORE, July 4 — Most Asian currencies firmed against the US dollar on today, recovering some of the previous day's losses, with the yuan bouncing from 11-month lows after the Chinese central bank assured it would keep the currency stable. The…

Telekom Malaysia, Axiata lift KLCI despite shaky regional markets


KUALA LUMPUR (July 4): The FBM KLCI rose at midday break today, lifted by gains at select index-linked blue chips, including Telekom Malaysia Bhd and Axiata Group Bhd, against the backdrop of weaker regional markets. At 12.30pm, the FBM KLCI rose 5.81 points to 1,686.18. The index had earlier risen to a high of 1,687.12. Losers led gainers by 278 to 253, while 490 counters traded unchanged. Volume was 1.03 billion shares, valued at RM682.37 million. Top gainers included British American Tobacco (M) Bhd, Heineken Malaysia Bhd, Telekom Malaysia, HongRead More

Ringgit up slightly at opening

KUALA LUMPUR, July 4 — The ringgit opened slightly higher against the US dollar in the early session today on the back of a softer overnight greenback and ahead of the US Independence Day holiday. At 9.00am, the ringgit was quoted at 4.0450/0500…

Major shake-out at GLCs and public institutions


A new broom sweeps clean. Less than a month after the Pakatan Harapan government was formed, the pace of the leadership shake-out at public institutions and government-linked companies (GLCs) has been astonishing. In a recent interview with The Edge, Prime Minister Tun Dr Mahathir Mohamad said it is a much more challenging task for him to form a new government now, compared with when he became the prime minister for the first time in 1981. “There are so many political appointees. Government departments were set up to serve the politicalRead More