Business

Malaysian banks are expected to maintain robust earnings in the near term, with Kenanga Research maintaining an overweight rating on the sector. Despite potential challenges in loan growth and interest margins, non-interest performances are anticipated to provide support to the banking industry's financial outlook.

Malaysia secured RM264.6 billion in approved investments in 2022, marking the second-largest investment figure in the country's history. The services sector dominated with RM154 billion (58.2%), followed by the industrial sector at RM84.3 billion (31.9%) and the primary sector at RM26.3 billion (9.9%).

Vietnam secured $3.1 billion in foreign direct investment during January and February 2023, marking a 38% decline from the same period last year. Singapore emerged as the largest investor, with manufacturing receiving the highest investment of $2.17 billion, followed by real estate and wholesale sectors.

MBSB Bank and PKNS Real Estate signed an MoU to drive cashless business transactions, enabling SMEs in SACC Mall and PKNS Complex to leverage real-time retail payment platforms like DuitNow, potentially reducing operational costs and improving financial processes.

South Korea's semiconductor inventory increased 28% month-over-month in January, marking the largest stockpile growth since 1996. With chips comprising 12% of exports, the surge highlights a prolonged tech recession impacting the nation's economic expansion.

Following Miti's approval, Tesla will establish a head office, experience centers, service centers, and Supercharger network in Malaysia. The news triggered a surge in EV-linked stocks, with companies like KESM Industries and Pentamaster seeing significant price increases.

Brent crude prices expected to remain flat around $80/barrel in first half of 2023, with potential rise to $85-$90 in second half driven by increasing demand from China and India, offsetting Russian supply constraints.

YNH Property Bhd Directors caught plundering assets worth RM 422 Million in a scam transaction to sell the company's two primary income-producing assets undervalue to the YU Syndicate-controlled company, ALX Asset Berhad. Leaked documents reveal the alleged fraudulent scheme.

Ukrainian military reports resistance against Russian attacks in multiple regions, including Kharkiv, Luhansk, and Donetsk. Bakhmut remains a critical battleground, with only military personnel allowed in entrenched positions as tensions escalate ahead of the invasion's one-year mark.

The newly launched China-Laos-Thailand train route offers a faster, more cost-effective transportation solution. Covering 55 hours from Kunming to Bangkok, the train carries 19 refrigerated containers of fresh vegetables, cutting travel time by a day and reducing transportation expenses by at least 20%.