<div class=newsTextDataWrapInner>Govt to extend 100% sales tax waiver for CKD passenger vehicles and a 50% sales tax exemption for CBU passenger vehicles, including MPVs and SUVs, until June 30, 2022</div>

<div class=newsTextDataWrapInner>See more Budget 2022 highlights&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.theedgemarkets.com/microsite/budget-2022-highlights&amp;source=gmail&amp;ust=1635580310463000&amp;usg=AOvVaw2Hw7JtcO_la440p8VN6r3l" href="https://www.theedgemarkets.com/microsite/budget-2022-highlights" target="_blank">here</a>.</div>
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Govt to extend 100% sales tax waiver for CKD passenger vehicles and a 50% sales tax exemption for CBU passenger vehicles, including MPVs and SUVs, until June 30, 2022

Budget 2022: Govt to extend sales tax waiver for passenger vehicles

Leapmotor has struck a deal with Chinese state-owned automaker FAW to deliver an electric vehicle platform that will be used to drive overseas sales for Hongqi, an emerging national champion, executives from both companies said.

China's Leapmotor to supply EV platform to Hongqi, also in talks with Ferrari

KUALA LUMPUR (April 24): YTL Hotels has expanded its hospitality portfolio with the opening of two new properties — Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh.

YTL Hotels opens Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh

Norway's US$1.7 trillion (RM7.4 trillion) sovereign wealth fund, the world's largest, reported on Thursday a quarterly loss of 415 billion Norwegian crowns (US$39.72 billion) for the January to March period, largely driven by negative returns in the tech sector.

Norway wealth fund posts US$40b first-quarter loss on tech weakness

Singapore equities were set for an eighth straight session of gains on Thursday, marking their best winning streak since November 2022, as cooling inflation and demand for defensive stocks supported the benchmark index.

Singapore shares set for an eight-day rally; Asian FX muted 

Gucci sales tumbled in the first quarter as efforts to revive Kering SA’s biggest brand again failed to yield signs of a turnaround amid a tough period for the luxury-goods industry.

Gucci sales drop as Kering label struggles to revive demand

Abandoned housing has been a long-standing problem in Malaysia. According to the Real Estate and Housing Developers’ Association (Rehda) Institute in its recently released “Abandoned Housing — Challenges, Insights & Solutions Research Report”, the number of abandoned housing projects has been...

Stakeholder action needed to address abandoned housing issues, says Rehda Institute

China’s central bank chief Pan Gongsheng urged countries to help maintain confidence in the global economic system on a trip to the US, reiterating Chinese opposition to tariffs as American President Donald Trump signals a shift toward de-escalating tensions.

PBOC chief warns trade frictions threaten trust in world economy

Adidas AG reported better-than-expected earnings in the first quarter as consumers continue to snap up retro sneakers like the Samba in the face of growing economic uncertainty.

Adidas earnings bolstered again by retro sneaker craze

KUALA LUMPUR (April 24): The special sitting of Dewan Rakyat on May 5 to discuss the impact of the United States’ actions on the Malaysian economy will be held at the request of Prime Minister Datuk Seri Anwar Ibrahim.

Dewan Rakyat special sitting on May 5 held at PM’s request — Parliament

Rising tariffs and the weakening dollar are casting a shadow on companies’ profit guidance this earnings season, with more damage seen unfolding over the coming quarters.

US dollar’s slide raising red flags for corporate earnings

A surge of complaints emerged on Thursday evening from investors across Bursa Malaysia, reporting that their accounts have been hacked and used for unauthorised trading activities.

Widespread hacks hit stock trading accounts in Malaysia

KUALA LUMPUR (April 24): The Ministry of Education issued an apology for an incorrect depiction of Malaysia’s national flag, the Jalur Gemilang, on an exam results analysis report distributed on Thursday.

Education Ministry apologises for Jalur Gemilang bungle in SPM results report

ACE-market listed LYC Healthcare Bhd (KL:LYC) said it has been served with a winding-up petition by SOG Mummy &amp; Baby Centre Pte Ltd for allegedly failing to settle an outstanding amount of RM600,000.

According to the petition, the amount owed is related to instalment payments due under a settlement reached in December 2024, which was subsequently restructured by both SOG Mummy and LYC Healthcare.

LYC Healthcare gets winding-up petition

Datuk Muzaffar Hisham has resigned from his position as Malayan Banking Bhd’s (KL:MAYBANK) group chief executive officer of Islamic banking to helm Bank Pembangunan Malaysia Bhd (BPMB), according to sources.

Muzaffar Hisham leaves Maybank's Islamic arm, said to be headed for top role at Bank Pembangunan

IJM Corporation Bhd (KL:IJM) has acquired a 50% stake in financially troubled UK-based construction firm JRL Group for £50 million, or about RM283 million.

IJM Corp completes acquisition of troubled UK builder for RM283m

(April 24):&nbsp;Coffee shop operator Zuspresso Sdn Bhd&nbsp;plans to open nearly 200 new stores in Southeast Asia this year, after surpassing Starbucks as Malaysia’s largest coffee chain within five years of inception.&nbsp;

ZUS Coffee to add 200 Southeast Asia stores in Starbucks duel

KUALA LUMPUR (April 24): YTL Hotels has expanded its hospitality portfolio with the opening of two new properties — Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh.&nbsp;

KUALA LUMPUR (April 24): The Asian Development Bank (ADB) disbursed US$4.9 billion (RM21.5 billion) to Southeast Asia in 2024, with Malaysia getting the smallest slice of the allocation, its latest annual report showed.

Asian Development Bank disbursed US$4.9b to Southeast Asia in 2024, Malaysia received US$1.7m

KUALA LUMPUR (April 24): Malaysia&nbsp;will need to mark down its growth forecast of 4.5% to 5.5% for the year, due to trade and tariff uncertainties, its central bank governor said.

Malaysia will need to revise down growth forecast, BNM governor says

(April 24):&nbsp;Online merchants are being inundated with suspicious offers to help avoid paying US tariffs&nbsp;on goods made in China.

‘Made in Malaysia’: Online sellers bombarded with ways to evade tariffs

China demanded that the US revoke all unilateral tariffs and said there were no talks on reaching a trade deal, maintaining a tough stance despite President Donald Trump’s easing of criticism of the country.

China says US should revoke all unilateral tariffs, denies talks

Bursa Malaysia Bhd’s (KL:BURSA) net profit for the first quarter ended March 31, 2025 (1QFY2025) is expected to decline year-on-year, weighed down by a weaker securities average daily value (ADV) amid cautious market sentiment, according to CIMB Securities.

Bursa’s 1Q net profit could decline as much as 27% amid weaker securities average daily value — CIMB

Crypto’s richest man, Changpeng Zhao, was in a playful mood as he addressed a packed house at the Ritz-Carlton in Kuala Lumpur, just seven months after his release from a low-security California prison.&nbsp;

In KL, Binance billionaire Zhao guides regulators to relax crypto rules

Former Goldman Sachs Group Inc banker Roger Ng Chong Hwa said that he first met fugitive Low Taek Jho (Jho Low) almost 20 years ago, just as the Terengganu Investment Authority (TIA)&nbsp;was about to set up.

1MDB-Tanore: Ex-Goldman banker Roger Ng says knew Jho Low around 2008/2009

IGB Real Estate Investment Trust (KL:IGBREIT) and IGB Commercial Real Estate Investment Trust (KL:IGBCR) will see their former group chief financial officer Chai Lai Sim return from retirement to take the helm at both REITs.

IGB REITs bring former CFO Chai Lai Sim out of retirement as new CEO

KUALA LUMPUR (April 24): Tenaga Nasional Bhd (TNB)(KL:TENAGA) has more than doubled its budgeted capital expenditure (capex) to RM42.9 billion — comprising RM26.6 billion in base capex and RM16.3 billion in contingent capex — to support infrastructure development for Malaysia’s energy transition.

TNB doubles capex to RM42.9b to back energy transition efforts

The East Coast Economic Region Development Council (ECERDC) says Segamat, Johor has secured RM2.6 billion in committed investments for manufacturing and agriculture projects in the first quarter of 2025 (1Q2025).

ECERDC: Segamat secures RM2.6b worth of manufacturing and agriculture investments in 1Q

The US stock market is well past its best days and investors should be prepared to see further declines in the nation’s equities, Treasury bonds as well as the dollar, according to Christopher Wood of Jefferies Financial Group Inc.

Jefferies’ Wood says best over for US stocks, sees more losses

KUALA LUMPUR (April 24): The Ministry of Transport (MOT) will begin enforcing checks on trucks at federal ports across Peninsular Malaysia starting July 1, 2025, for overloading, as part of efforts to tackle the issue of overloaded heavy vehicles.

Ports to enforce overloading checks on trucks from July, says MOT

U Mobile Sdn Bhd, the telco spearheading the development of Malaysia’s second 5G network, announced&nbsp;on Thursday it had signed a term sheet agreement with Celcom Timur (Sabah) Sdn Bhd (CT Sabah) — a subsidiary of CelcomDigi Bhd (KL:CDB) — to deploy leased fibre circuits in Sabah and the Federal Territory of Labuan.