SEPANG (July 3): Xiamen University Malaysia Campus (XMUMC), the first overseas campus by the Chinese university, will be mainly funded by the Chinese government, said Sunsuria Bhd Executive Chairman Datuk Ter Leong Yap. He told reporters after the ground-breaking ceremony this morning that construction cost of 2.6 billion renminbi or RM1.3 billion would be given […]

KUALA LUMPUR: The government may have tweaked a controversial Bill that allows the Minister of Finance (MoF) to set up an investment panel within the Inland Revenue Board (IRB) to invest in stocks, initial public offerings, bonds, debts and property assets, as pressure mounts over why the country needs another sovereign wealth fund like 1Malaysia […]

KUALA LUMPUR (June 14): The proposed investment arm within Malaysia’s Inland Revenue Board (IRB) raises questions on the feasibility and broader implications of the government tax collection agency becoming a steward of taxpayers’ money. The Edge Malaysia business and investment weekly (Edge Weekly) reported in its latest June 16 -22 issue that the proposal could […]

KUALA LUMPUR (June 12): The government has reiterated its target of increasing the Bumiputera equity ownership in the national economic pie to 30 per cent by 2020, from 24 per cent currently. Minister in the Prime Minister’s Department, Datuk Seri Abdul Wahid Omar, said that back in 1970, Bumiputera equity ownership stood at only 2.4 […]

JAKARTA (June 12): Indonesia’s government wants to rescue grounded domestic carrier PT Merpati Nusantara Airlines, the country’s chief economic minister said, potentially by converting its heavy debts into equity, a cheaper solution than allowing the state-owned airline to go bankrupt. Merpati, struggling to pay insurance, employee salaries and fuel bills, hasn’t been permitted to operate […]