Money & Finance

Japan approves a significant semiconductor research project with TSMC, aiming to enhance its competitiveness in the tech sector and address critical chip manufacturing challenges affecting industries like automotive.

Nayuki, a popular Chinese bubble tea chain, has successfully completed its Hong Kong IPO, raising US$656 million by selling 257.3 million shares. Founders Peng Xin and Zhao Lin are set to become billionaires with their current stake in the company, marking a significant milestone in the beverage industry.

Telecommunications giants Axiata Group and Telenor Asia have finalized a strategic merger of their Malaysian wireless businesses. The new entity, MergeCo, promises enhanced digital services, significant cost synergies, and robust financial performance with projected pre-tax profits of 5.7 billion ringgit.

UEM Sunrise collaborates with Maybank Islamic's HouzKEY, providing first-time and second-time homeowners with an innovative financing solution. The partnership offers zero down payments, no installments during construction, and 100% financing for 10 projects, making homeownership more accessible.

Malaysian engineering firm KAB partners with Janakuasa to enter Vietnam's renewable energy market. They will establish a special purpose company to acquire majority stakes in three hydropower stations, each with power purchase agreements valid until 2039.

Federal Reserve research indicates Trump-era tariffs caused billions in economic losses, with potential data manipulation by exporters and importers during trade war period.

Singapore sovereign wealth fund GIC Pte Ltd has purchased a 16% stake in Sunway Healthcare Holdings for RM750 million. Greenwood Capital, a GIC subsidiary, signed a share purchase agreement to acquire interests in Sunway Healthcare, including 100 million shares and convertible preferred shares.

The World Bank has lowered Malaysia's GDP growth projection to 4.5% for 2021, down from the previous 6%, due to COVID-19 resurgence. The reduction reflects slower pandemic containment and vaccination efforts, raising concerns about the health system's capacity and economic disruptions for businesses and families.

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

GlobalFoundries Inc is investing $4 billion in a new chip factory in Singapore, joining rivals like TSMC and Samsung in addressing global semiconductor shortages. The company plans expansions across Asia, the US, and Germany, with strategic investments totaling $6 billion to enhance production capacity in key markets.