Malaysia

A Malaysian bank has issued a sell recommendation for Starbucks shares, citing the impact of the Covid-19 pandemic and the rising cost of living on consumer spending. Bank Rakyat Malaysia (BRM) said in a note on Friday that it expects Starbucks to face lower demand and margins in the second half of 2023, as consumers cut back on discretionary spending …

Malaysia’s anti-corruption agency has launched a probe into the lawyers who represented the government and Goldman Sachs in a settlement deal over the 1MDB scandal. The Malaysian Anti-Corruption Commission (MACC) raided the offices of two law firms, Rosli Dahlan Sarvana Partnership (RDS Partnership) and Chetan Jetwani & Company, last week and seized documents related to the negotiations. The MACC said …

Malaysia is set to offer visa-free entry to Chinese tourists starting from next month, in a bid to boost its tourism industry that has been hit hard by the COVID-19 pandemic. Prime Minister Anwar Ibrahim announced the policy during his recent visit to China, saying that it would benefit both countries and strengthen their bilateral ties. However, some Malaysian tour …

In a bizarre twist of fate, a 27-year-old Malaysian woman, Norazlina Awang, found herself at the center of an unexpected windfall when a whopping US$86.6 million (RM360 million) landed in her bank account due to a banking hiccup. Unfolding in Kuala Lumpur, Norazlina, employed as a clerk at a local car dealership, stumbled upon this colossal sum on February 1, …

Malaysia is set to redefine travel dynamics with a groundbreaking 30-day visa-free entry for Indian and Chinese citizens, slated to roll out on December 1, 2023. Prime Minister Anwar Ibrahim, donning the hat of Finance Minister, unveiled this strategic move, signaling a bold step toward resuscitating the tourism sector battered by the COVID-19 aftermath. This sweeping visa waiver, supplementing existing …

In a strategic move to invigorate its tourism sector, Malaysia is poised to introduce a 30-day visa-free stay for Chinese tourists, effective from December 1. This reciprocal measure follows China’s recent inclusion of Malaysia in its visa-free travel list for a one-year trial. The initiative aims to bolster tourism, a pivotal contributor to Malaysia’s economy, accounting for 14% of the …

The Madani Community Fund is a government initiative designed to boost the economy in rural areas. This program is unique because it allows local communities to decide and manage their economic projects. Their goal is to empower these communities by providing them with financial support to start and run various economic activities. For the year 2024, the Malaysian government has …

In a landmark move aimed at fortifying its security measures, UnionBank, one of the Philippines’ largest banks, is set to become the country’s first financial institution to implement voice recognition biometric verification. The initiative, spearheaded by UnionBank’s Head of AI, Adrienne Heinrich, focuses on enhancing customer service and addressing the rising threat of fraud in the rapidly digitizing nation. Voice …

In a recent twist of events, electronics valued at a staggering $74 million faced hurdles entering the United States in September, revealing a heightened crackdown on potential links to forced labor in China’s Xinjiang region. These electronics, including solar panels and microchips, predominantly hailed from Malaysia and Vietnam. The latest data, updated in November, disclose the impacts of the tightened …

Before the official campaign rhythm for Indonesia’s elections, Once Mekel, a music icon turned politician, hit a vibrant note in Kuala Lumpur. Over 1,000 cheering fans welcomed Mekel, a candidate for the Indonesian Democratic Party of Struggle (PDI-P), reflecting the star-studded allure of political rallies abroad. Mekel’s venture into politics is more than a performance; it’s a chord struck to …