Business

Malaysia's exports rose 9.8% to RM112.28 billion in February 2023, with robust sales of petroleum products, electrical and electronic goods, and liquefied natural gas. Imports increased 12.4% to RM92.71 billion, resulting in a RM19.56 billion trade balance, marking a 7.9% increase from January.

RAM Ratings assesses Malaysian banking sector's strength, noting less than 25% bond investments and robust regulatory oversight differentiating local banks from SVB's risky investment strategy.

Silicon Valley Bank's parent company filed for bankruptcy protection, marking the largest bank collapse since 2008. The move follows regulatory takeover and aims to manage asset sales amid industry uncertainty.

The failure of Silicon Valley Bank exposed deep rifts in the venture capital world, with investors publicly criticizing each other's actions during the bank run. Many VCs urged their portfolio companies to withdraw funds, potentially contributing to the bank's rapid collapse and highlighting internal industry tensions.

Singapore bank stocks dropped as global markets reacted to Credit Suisse's financial turmoil and consecutive US bank failures. The Swiss bank's stock plummeted 30% after its largest shareholder declined additional investment, raising concerns about wider financial sector risks and potential systemic instability.

Maybank introduces an integrated financing solution for electric and hybrid vehicle owners, covering comprehensive financing, insurance, and charging station access. The initiative aligns with the bank's sustainability objectives and supports the government's vision to increase EV market share to 38% by 2040.

PETALING JAYA: As investors seek refuge in better yielding stocks amid recessionary fears, banks may notice an increase in interest. Despite the fact that financial...

Malaysia secured RM264.6 billion in approved investments in 2022, with the services sector leading at RM154 billion (58.2%), followed by industrial investments at RM84.3 billion. This marks the second-largest investment achievement in the country's recent history, showcasing robust economic potential.

Vietnam secured $3.1 billion in foreign direct investment in the first two months of 2023, marking a 38% decrease from last year. Singapore emerged as the largest investor, with manufacturing receiving the most significant portion of investments at $2.17 billion.

MBSB Bank and Prec Real Estate signed an MoU to support small businesses by introducing real-time retail payment platforms like DuitNow. The collaboration aims to reduce operational costs and simplify financial management for entrepreneurs in SACC Mall and PKNS Complex, encouraging digital payment adoption among SMEs.