In recent months, Malaysia has witnessed a worrying surge in the number of mule accounts, which are increasingly being used money laundering and identity theft. The ease of acquiring the accounts has made the country a prime target for foreign syndicates looking to launder and legitimise their illicit funds.

Digital banks could spur rise in mule accounts

NEWS

Edotco launches vendor development programme to boost SMEs

Edotco Malaysia has unveiled an industry-first capacity development programme for its suppliers and business partners, primarily small and medium enterprises (SMEs), to elev...

Bits + Bytes: A Miscellany of Technology

The rise of artificial intelligence (AI) has sparked concerns about its potential to replace human expertise. However, a recent report by Citi GPS: Global Perspectives and Solutions emphasises a different future, one of human-machine collaboration. This collaborative approach leverages AI’s stren...

Report: AI-driven innovations amplify human abilities

US Surgeon General Dr Vivek H Murthy has called for a warning label to be put on social media platforms, stating that social media is associated with significant mental health harm for adolescents.

“The mental health crisis among young people is an emergency — and social media has emerg...

Geek Speak: (Snap)chatting to keep in touch

The shortage of doctors and essential resources has been a persistent, unsolved problem in hospitals and the healthcare sector in general. The Ministry of Health’s 2023 Health Facts reveals that there is one doctor to 412 Malaysians, or 2.4 doctors for 1,000 people. To benchmark against Asea...

Healthtech: Time to save lives with AI

Not so long ago, the “work hard, play hard” mentality seemed to be everywhere. Influencers across the media promoted waking up early and putting in more hours than anyone else as the ultimate path to success.

On the surface, their logic makes sense. Those who work the most deserve the g...

Talent: Rejecting hustle culture isn’t being lazy, it’s being smart

If you’re an ardent follower of the Nasdaq or New York Stock Exchange, you will know that the term “Magnificent Seven” refers to the top seven technology stocks listed on the US stock exchanges, namely Amazon, Apple, Alphabet (which owns Google), Meta Platforms (Facebook’s parent), Microsoft, Nvi...

The Pitch Deck: Where are the Malaysian ‘Magnificent Seven’?

The digital revolution undergoes an architectural shift every 20 years, observes Wong Thean Soon, co-founder of MyEG Services Bhd. When he started pondering the next major shift, he landed on two possibilities: The first was the decentralisation of the internet ecosystem, also known as Web3, and ...

Interview: Bringing Web3 to forefront, now rather than later

As the Aug 1 deadline approaches for the first batch of taxpayers — those with an annual turnover of RM100 million and above — to adopt e-invoicing for all their transactions, smaller businesses are bracing for their turn on Jan 1 and July 1 next year. However, concerns over this are already surf...

Cover Story: Are SMEs ready for e-invoicing?

From optimising street lighting and traffic flow to managing public parking and camera surveillance, Internet of Things (IoT) powered sensors enable smarter, real-time responses and improved city services. However, this integration into a single infrastructure poses significant cybersecurity chal...

Cybersecurity: Securing smart cities

A hundred million — this is the number of people who shopped using augmented reality (AR), online and in stores in the last couple of years, according to  Deloitte Digital research for Snapchat. The “Snap Consumer AR Global Report 2021” predicts that, by 2025, nearly 75% of the global popula...

Listicle: Augmented reality: An inflection point in fashion

Findings of a recent study by Prudential Malaysia show that only 48% of Malaysians are actually satisfied with their financial well-being. Out of that number, 43% are concerned about securing their retirement comfortably due to stagnant wages and the rising cost of living.

It is not all...

Money Matters: Financial advisory gets an AI boost

Malaysia has made no secret of its ambition to be not only part of but also come out ahead in the Fourth Industrial Revolution (4IR), also known as Industry 4.0 or Industrial Revolution 4.0 (IR4.0). Over the past decade, the government has introduced a plethora of initiatives, with the latest bei...

Cover Story: Levelling the IR4.0 playing field

Nine girls, each a vibrant thread from Asia’s rich tapestry, stood triumphant on the Chuang Asia: Thailand stage as cheers celebrating their debut erupted across Southeast Asia and the continent. Their debut marked the dawn of a new era — the fusion of Asian cultural content across over-the-top (...

Over-The-Top: The Asian multiverse: Fusion of local and regional content in Southeast Asia

In a 1955 speech to a group of investment bankers, then-US Federal Reserve chair William McChesney Martin shared a story about an economics professor who always administered the same exam. When asked how any student could possibly fail such a test, the professor replied, “The questions don’t chan...

The Frontiers Of Growth: The geopolitical imperative to upgrade the dollar

The Robo Report, published by US-based wealth management and investment advisory firm Condor Capital Wealth Management, ranks the total portfolio performance of a long list of robo-advisory firms in the US.

Performance of robo-advisor portfolios in the US

PUTRAJAYA (July 4): The diesel subsidy targeting measure implemented on June 10 has seen a decrease in diesel seizures of as much as 87%, said Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

Armizan: Targeted fuel subsidy resulted in decrease in diesel seizures

Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) have been separately considering bids for Santos, Bloomberg News reported, sending shares of the Australian gas producer up 6.5% on Thursday.

Aramco, ADNOC reportedly weighing bids for Australia's Santos, but analysts sceptical

(July 4): One of the world’s fastest growing pools of retirement capital is reducing its investments in hedge funds, as regulatory scrutiny grows on fees and performance at Australian pension funds.

Hedge funds lose favour in Australia’s US$2.6 tril pension pot

AG's Report 2/2024 highlights nine audits involving 11 ministries, with cost of audited projects totalling RM41.97b

Asian stocks hit 27-month highs on Thursday as softer US data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.

Asian stocks hit 27-month top, dollar slips on rate cut talk

KUALA LUMPUR (July 4): Analysts remain upbeat on Mah Sing Group Bhd (KL:MAHSING) after it acquired a piece of land in Taman Desa, which is earmarked for an RM1 billion high-rise residential project.

Analysts remain upbeat on Mah Sing after Taman Desa land acquisition 

(July 4): Pakistan was lowered to frontier market status, from secondary emerging market by FTSE Russell, dealing a blow to the nation’s equities and potentially driving millions of dollars in outflows.

Pakistan stocks downgraded to frontier market by FTSE Russell

Traders are looking to trim excessive policy tightening bets in Taiwan as hawkish central bank moves keep swap rates near record highs.

Taiwan’s one and two-year swap rates, measures of interest rate expectations over those periods, have been trading near their peaks after the island’s central bank last month unexpectedly raised the amount of funds lenders must hold in reserve.

Record high Taiwan swaps prompt rethink of excess rate hike bets

Shares of Ocean Fresh Bhd (KL:OFB) more than doubled in its trading debut on the ACE Market after the frozen seafood company raised RM14.01 million from its initial public offering (IPO) on the back of strong demand.

Ocean Fresh shares more than double on ACE Market debut

The red-hot Washington debate over whether President Joe Biden will scrap his run for re-election is spilling into Wall Street, where traders are shifting money to and from the dollar, Treasuries and other assets that would be impacted by Donald Trump’s return to office.

The recalibration of portfolios kicked off at the end of last week after Biden’s disastrous debate with Trump heightened concerns the 81-year-old Democrat is too old to serve another term.

Global markets on alert for Biden exit as Trump-win trades mount

Construction outfit Jati Tinggi Group Bhd (KL:JTGROUP) said it has secured a RM20.05 million contract to undertake the installation of 33kV underground cables in the southern region of Peninsular Malaysia.&nbsp;

Jati Tinggi secures RM20m underground cable job

&nbsp;US&nbsp;President&nbsp;Joe&nbsp;Biden&nbsp;vowed to stay in the&nbsp;2024 presidential race&nbsp;during a call with campaign staff on Wednesday and sought to reassure top Democrats on Capitol Hill that he is fit for reelection despite&nbsp;his&nbsp;shaky&nbsp;debate performance last week.

Biden&nbsp;dialed in to a call with worried members of&nbsp;his&nbsp;campaign team&nbsp;and told them he wasn't going anywhere, according to two sources familiar with the call.

'I am running' — Biden scrambles as pressure grows to abandon his campaign

Philip Research reaffirmed its positive outlook on OCK Group Bhd (KL:OCK), projecting significant gains from widespread 5G adoption and a record-breaking year in 2024.

Philip Research sees record year for OCK, boosted by 5G and order book

Wall Street traders sent stocks higher as bonds yields fell after a string of weaker-than-estimated economic reports reinforced the case for the Federal Reserve to start cutting rates this year.

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In a shortened session ahead of the&nbsp;US holiday, the S&amp;P 500 hit an all-time high on bets lower rates will keep fueling Corporate America.
</article>

Stocks hit fresh highs as weak data sink US yields

Hong Leong Investment Bank (HLIB) has turned more positive on the consumer sector, upgrading its call to "overweight", from "neutral", due to potential margin expansion from lower raw material prices and consumption boosts from the Employees Provident Fund (EPF) Account 3 and civil servant pay hikes.

HLIB upgrades consumer sector to overweight, names Aeon, Focus Point, QL Resources as top picks

KUALA LUMPUR (July 4): The Securities Commission Malaysia (SC) has cautioned the public on investment scams enticing investors with pre-initial public offering (pre-IPO) shares of companies seeking to list on Bursa Malaysia.

Securities Commission warns public on pre-IPO investment scams

Budget pressures are forcing governments across Southeast Asia to rethink fuel subsidies, risking political backlash and another inflation blow to their economies.

Thailand and Malaysia have let diesel prices climb in the past weeks to ease the burden on public finances as global crude prices rise.

Asia’s fuel subsidies are falling victim to budget pressures

The dollar dropped by the most in three weeks as data showed the US services sector contracted in June at the fastest pace in four years, sending Treasury yields lower.

The Bloomberg Dollar Spot Index dropped 0.4% Wednesday, the biggest decline since June 12. The currency lost ground against all of its major counterparts, with the Norwegian krone, Swedish krona and the Australian dollar leading the advances.

Dollar drops most in three weeks as yields fall on rate-cut bets

The Federal Land Development Authority (Felda) recorded revenue of RM186 million in the first quarter (1Q) of 2024, up 3% from a year earlier, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Felda 1Q2024 revenue up 3% to RM186m, Parliament told

Some of the world’s biggest oil-hauling supertankers are instead loading up vast volumes of diesel in the latest sign of how attacks by Yemen’s Houthis are upending global shipping.&nbsp;

At least one so-called very large crude carrier, or VLCC, capable of hauling two million barrels of oil is already sailing from the Middle East to Europe, while another is in the process of loading, according to Kpler and ship-tracking data compiled by Bloomberg.&nbsp;

Giant oil tankers find new business after Houthi ship attacks

The National Scam Response Centre (NSRC) received as many as 37,002 calls from scam victims with a total reported loss of RM203.33 million as of May 2024.

Over RM203m in scam losses reported to NSRC as of May, says Anwar 

Signs&nbsp;of renewed activity emerged on Wednesday in the quest for a&nbsp;ceasefire&nbsp;deal between&nbsp;Israel&nbsp;and Hamas in the nine-month-old war in the&nbsp;Gaza&nbsp;Strip while&nbsp;Israel&nbsp;launched more strikes on the devastated&nbsp;enclave.

After weeks with little public diplomacy, mediators Egypt and Qatar delivered a response from Hamas to a proposal that would include a release of hostages held in&nbsp;Gaza&nbsp;and a&nbsp;ceasefire&nbsp;in the Palestinian&nbsp;enclave.

Gaza ceasefire effort shows signs of revival as Israel pounds enclave

KUALA LUMPUR (July 4): Analysts remain upbeat on Mah Sing Group Bhd (KL:MAHSING) after it acquired a piece of land in Taman Desa, which is earmarked for an RM1 billion high-rise residential project.

（吉隆坡4日讯）海洋冷冻食品公司（Ocean Fresh Bhd）（KL:OFB）今早在创业板上市，成交量超出一倍。

海洋冷冻食品创业板登场 成交量翻倍

Federal Reserve (Fed) officials said they were awaiting additional evidence that inflation is cooling and were divided on how long to keep interest rates elevated at their last policy meeting.

Minutes from the two-day Federal Open Market Committee gathering ended June 12 showed officials didn’t expect it would be appropriate to lower borrowing costs “until additional information had emerged to give them greater confidence that inflation” is on track to their 2% goal.

&nbsp;

Uploaded by Isabelle Francis

Fed sought more evidence of cooling inflation, June minutes show

Asian stocks hit 27-month highs on Thursday as softer US data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.

More to come
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