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Global UHNW Population Set To Rise 33 Pct By 2030, Report Finds

KUALA LUMPUR, May 12 (Bernama) -- A new report by Altrata, sponsored by Arton Capital, finds that the global Ultra High Net Worth (UHNW) population is increasingly international, with one in five individuals now foreign-born.

Malaysia GDP Seen At 4.8 Pct In 2026 If West Asia War Ends By June -- Affin Bank

KUALA LUMPUR, May 12 (Bernama) -- Malaysia’s gross domestic product (GDP) is projected to expand 4.8 per cent in 2026, provided the West Asia conflict ends by June, underpinned by stable domestic demand, improving investment activity and ongoing economic reforms, Affin Bank Bhd said.

Permaju Unit to Cease Ford Dealership Business

KUALA LUMPUR, May 11 (Bernama) -- Permaju Industries Bhd's wholly-owned subsidiary Capital Intertrade Sdn Bhd (CISB) is ceasing its Ford dealership operations, having served a notice of company closure and surrender of operations to Sime Darby Auto ConneXion Sdn Bhd (Sime Darby Auto).

Vedanta Posts Record FY26 Profit, Revenue Following Demerger

KUALA LUMPUR, May 11 (Bernama) -- India-based Vedanta Limited, a global leader in metals, oil & gas, critical minerals, power and technology, posted a record profit of US$2.8 billion for the financial year ended March 31, 2026, up 22 per cent year-on-year (YoY), driven by structurally strong businesses and disciplined execution. (US$1 = RM3.91)

Late Selling Pushes Bursa Malaysia Into Negative Territory At Close

By Siti Noor Afera Abu

KUALA LUMPUR, May 11 (Bernama) -- Late selling pressure dragged Bursa Malaysia into negative territory at the close, reversing earlier gains as profit-taking in heavyweight banking and transportation counters dampen overall market sentiment.

CYNREN Formed To Serve Family Offices, Funds, Institutions

KUALA LUMPUR, May 11 (Bernama) -- CYNREN has launched as an independent international advisory firm focused on the intersection of capital, technology and geopolitics.

AM Best Assigns Excellent Credit Ratings To Tokio Marine Newa Insurance

KUALA LUMPUR, May 11 (Bernama) -- AM Best has assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a+” (Excellent) to Taiwan’s Tokio Marine Newa Insurance Co Ltd (TMNewa), with a stable outlook.

BMI Sees BNM Holding OPR At 2.75 Pct In July Amid Contained Inflation

KUALA LUMPUR, May 11 (Bernama) -- BMI, a unit of Fitch Solutions, expects Bank Negara Malaysia (BNM) to leave the overnight policy rate (OPR) on hold at 2.75 per cent at its next meeting on July 9, following the central bank’s May 7 rate decision.

139th Canton Fair Draws Record Overseas Buyers

KUALA LUMPUR, May 11 (Bernama) -- The 139th Canton Fair in Guangdong Province concluded with a record number of overseas buyers, underscoring continued global demand for Chinese products and manufacturing innovation.

Malaysia Targets Stronger EV Ecosystem Via OEM-Local Vendor Ties -- Sim

KUALA LUMPUR, May 11 (Bernama) -- Malaysia wants original equipment manufacturers (OEMs) to collaborate with local vendors to level up the entire value chain and ecosystem via the new electric vehicle (EV) policy, said Deputy Investment, Trade and Industry Minister Sim Tze Tzin. 

Malaysia's Volume Index Of Services Up By 5.8 Pct In 1Q 2026 -- DOSM

KUALA LUMPUR, May 11 (Bernama) -- Malaysia’s volume index of services recorded a year-on-year growth of 5.8 per cent in the first quarter (1Q) of 2026, reaching 168.0 points, according to the Department of Statistics Malaysia (DOSM).

TSplus Showcases Global Strategy At Annual International Meeting In Greece

KUALA LUMPUR, May 11 (Bernama) -- TSplus, a French software company, centred its annual International Meeting on collaboration and shared purpose during a six-day event held in Greece.