Business

Maybank Investment Bank (Maybank IB) has secured prestigious awards in 2021, including "Best Investment Bank", "Best ECM House", and "Best DCM House" from FinanceAsia, and "Best Bond House", "Best Equity House", and "Best Institutional Broker in Malaysia" from Alpha Southeast Asia.

IJM Corp has agreed to sell its entire 56.2% stake in IJM Plantations to KLK Bhd for RM1.53 billion or RM3.10 per share. The transaction, announced in July, requires shareholder and creditor approval. KLK intends to maintain IJM Plantations' listing on Bursa Malaysia.

Bank Negara Malaysia and The Bank of Thailand have launched a groundbreaking cross-border QR payment linkage, allowing seamless instant payments between Malaysian and Thai shoppers and traders. The project, initiated in June 2020, connects real-time retail payment platforms RPP/DuitNow and PromptPay, facilitating quick and efficient cross-border transactions.

Malaysia has maintained its Crude Palm Oil (CPO) export tax at 8% for July 2021, reflecting the commodity's market price above RM3,450 per tonne. As the world's second-largest palm oil exporter, the country's tax structure varies based on market rates.

Pharmaniaga Bhd announces plans to distribute Sinovac COVID-19 vaccine across state governments and private sectors. The company aims to support national immunity goals and economic recovery, with Group Managing Director Datuk Zulkarnain Md Eusope emphasizing collaboration with government-linked companies and healthcare experts.

Luno Malaysia has processed approximately US$1 billion in crypto transactions this year, with over RM1 billion in digital assets stored. The company sees increasing cryptocurrency adoption as investors view digital currencies as a potential hedge against inflation and alternative investment class.

Austria's AT&S has chosen Malaysia as its strategic tech manufacturing hub, announcing an 8.5 billion ringgit investment in Kulim High-Tech Park. The project will create 5,000 high-tech jobs and focus on producing advanced printed circuit boards and integrated circuit substrates.

As pandemic lockdowns continue to impact employment, Malaysia's workforce experiences significant pressures. The unemployment rate, which improved to 4.6% in April, remains volatile. Manufacturing sectors and businesses adapt by operating at reduced capacities while following strict standard operating procedures.

The Malaysian government has extended the tax exemption for corporate investors of retail money market funds until January 1, 2022, as part of its fiscal measures to mitigate the economic impact of the COVID-19 pandemic. This move aims to provide continued support to businesses during these challenging times.

Although the government has imposed varying degrees of restrictions in the past year. The Covid-19 epidemic in Malaysia has deteriorated significantly. Last week, the...