Money & Finance

Malaysian engineering firm KAB partners with Janakuasa to enter Vietnam's renewable energy market, establishing a special purpose company to acquire majority stakes in three hydropower stations. The projects have power purchase agreements valid from 2030 to 2039, with commercial operations already commenced between 2015-2019.

Federal Reserve economists uncover unusual trade reporting patterns during tariff tensions, suggesting potential misreporting by exporters and importers to manipulate tax and tariff calculations.

Singapore sovereign wealth fund GIC Pte Ltd has acquired a 16% stake in Sunway Healthcare Holdings for RM750 million. Greenwood Capital, a GIC arm, signed a share purchase agreement to buy shares in Sunway City, involving a subscription of 100 million Sunway Healthcare shares.

The World Bank has reduced Malaysia's GDP growth projection to 4.5% in 2021, down from the previous 6%, citing concerns about the COVID-19 resurgence, healthcare system capacity, and economic disruptions caused by recurring lockdowns.

Bank Negara Malaysia's international reserves increased to US$111 billion, with sufficient reserves to cover 1.2 times imported goods and short-term foreign debt for 8.5 months. The reserves primarily consist of foreign exchange, IMF reserve position, special drawing rights, gold, and other currency reserves.

GlobalFoundries is investing $4 billion in a new chip factory in Singapore, joining rivals like TSMC and Samsung in expanding production capacity. The US-based company aims to address ongoing semiconductor shortages across industries, with additional investments in the US and Germany.

Singapore's Foreign Affairs Minister Vivian Balakrishnan meets Vietnamese counterpart Bui Thanh Son to discuss digital economy cooperation and travel resumption amid pandemic recovery efforts.

Petronas, SEA Ltd, Genting Bhd, and YTL Corp are among key organizations seeking digital banking licences in Malaysia. The competitive landscape includes potential consortium bids from ride-hailing and tech companies, signaling a transformative moment in the country's financial services sector.

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

KNM Group Berhad's executive leadership, including Gan Siew Liat and her family, are embroiled in an insider trading scandal. Impress Ethanol Co. Ltd. has suffered significant financial losses, with a critical THB2.7 billion bond due this year and no operational ethanol revenues to support repayment.