Lowyat.NET: Latest topics by Corporate Finance

BREAKING: PAS WILL HOLD ECONOMIC FORUM AT KLCC

Corporate Finance — Tue, 08 Sep 2026 20:25:50 +0800

The SG4 Business and Economic Forum 2026 will explore how the four PN-led states can collectively play a greater role in Malaysia's economic future.

PETALING JAYA: SG4 Group Sdn Bhd, a strategic economic and investment platform jointly owned by the state governments of Kedah, Terengganu, Perlis and Kelantan, is organising the SG4 Business and Economic Forum 2026.

The business and economic forum will be held at the Kuala Lumpur Convention Centre (KLCC) on Oct 26.

SG4 Group said the forum will bring together government leaders, policymakers, investors, financial institutions, industry players, entrepreneurs, and technology leaders to explore how the four states could collectively play a greater role in Malaysia’s economic future.

Participants can expect discussions on the changing global economic environment, investment and capital-market realities, government policy, emerging technologies, industrial transformation and new opportunities across the SG4 states.

SG4 comprises the four Perikatan Nasional-led state governments of Kedah, Terengganu, Perlis and Kelantan.

“More importantly, the forum seeks to connect capital with opportunities, technology with resources, industries with locations, and government aspirations with private-sector execution,” said SG4 Group in a media invitation.

SG4 adviser Dr Mahathir Mohamad will deliver a special keynote address while Terengganu menteri besar Ahmad Samsuri Mokhtar will deliver the opening keynote address.

Kedah menteri besar Sanusi Nor, Kelantan menteri besar Nassuruddin Daud and Perlis menteri besar Abu Bakar Hamzah will be keynote speakers at the forum.

The forum will also feature economists such as Noor Azlan Ghazali of Universiti Kebangsaan Malaysia, Muhammed Abdul Khalid of Universiti Malaya and Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid.

Prominent figures from the banking and corporate sectors such as Dagang NeXchange Bhd chairman Syed Zainal Abidin Syed Tahir, Hong Leong Islamic Bank Bhd CEO Dafinah Ahmed Hilmi, and Agro Bank senior vice-president Rosli Jusoh will also speak at the forum.

https://www.freemalaysiatoday.com/category/...-oct-26-at-klcc

Dear PMX, please don't cut our EPF dividends!

Corporate Finance — Thu, 03 Sep 2026 13:51:29 +0800

Tiered EPF dividends could backfire, experts caution

KUALA LUMPUR: A tiered dividend structure for the Employees Provident Fund (EPF) may weaken the fund's investment scale, risk early withdrawals and be deemed as a penalty for long-term members with larger balances, said industry experts.

Although the idea has been proposed previously, they said there needs to be a more progressive approach for EPF to consider in its effort to ensure adequate savings for contributors.

Taylor's University adjunct professor Dr Ong Kian Ming said a tiered dividend model may not be the most progressive option for the retirement fund as its implementation could undermine trust in EPF.

A tiered dividend structure could lead to more early withdrawals among higher earners, he said, adding that the EPF is also likely to see lower self-contributions.

"I think the EPF is very reluctant to move on this without understanding what the possible reaction will be," he said at the CGS International ESG and Sustainability Conference 2026 here today.

Khazanah Research Institute (KRI) had previously recommended that the EPF introduce a progressive dividends model as part of a broader reform of the retirement ecosystem.

Other recommendations by the KRI include extending the retirement age and deepening progressive contributions, which Ong said he agreed to.

Universiti Teknologi Mara Business Management Faculty senior lecturer Dr Mohamad Idham Md Razak also echoed Ong's view and said the structure may not bode well for those with bigger balances.

"A tiered structure could potentially be perceived as penalising members with larger balances, particularly those who have contributed consistently over many years.

"This may unintentionally encourage withdrawals or reduce voluntary and self-contributions. The priority should be to strengthen retirement adequacy through progressive contributions, targeted incentives and better savings behaviour rather than relying primarily on differentiated dividend rates," he told Business Times.

UniKL Business School economic analyst Associate Professor Dr Aimi Zulhazmi Abdul Rashid said the idea of a tiered dividend structure for EPF comes from a good place, which is mainly to ensure low-balance members do not retire into poverty.

However, he said besides the possibility of early withdrawals and lower voluntary contributions, a tiered model may lead to a shift of funds to other vehicles among higher earners.

"This could weaken EPF's investment scale and long-term sustainability," he said.

BETTER APPROACH FOR ALL

Aimi said instead of cutting dividends for some, a more progressive and trust-preserving approach would be to maintain a single base dividend for all members, while introducing a targeted "top-up" or bonus dividend for accounts below a certain threshold, funded by government or EPF's excess returns.

"This achieves the same goal of adequacy without penalising savers. Coupled with KRI's other recommendations to extend retirement age and deepen progressive contributions, and with deeper research into retirees' cost of living, Malaysia can reform EPF in a way that is both equitable and sustainable," he said.

For a better understanding of their needs after retirement, Ong proposed an in-depth insight into the living arrangements of retirees to allow for a more customised approach to determine the cost of living for this group.

He added that policy discussions surrounding inter generational engagements on providing and taking care of elderly parents are also lacking.

"So far, the only policy proposal that's been put on the table is if your children don't take care of you and you are in need, the government is thinking of a plan to allow parents to sue their kids.

"I think there are many more current approaches," he said.

Beyond dividend reform, Idham said EPF should consider a broader retirement adequacy framework that looks at both the accumulation and decumulation phases of retirement.

This could include strengthening progressive employer and employee contributions and providing stronger incentives for voluntary savings.

It could also encourage contributions during periods of informal or gig employment, while reviewing withdrawal policies to balance short-term financial needs with long-term retirement security.

EPF could also develop more personalised retirement benchmarks based on members' income, household size, location and expected living arrangements.

"EPF should also consider the rising costs of healthcare, longevity risk and inflation, particularly as Malaysians are living longer.

"Ultimately, the objective should not simply be to ensure that members have a larger EPF balance at retirement, but to ensure that the balance can provide a sustainable and dignified standard of living throughout their retirement years," added Idham.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam said the focus should be on promoting awareness on the importance of retirement savings while making sure members minimise their withdrawals.

At the same time, focus could also be on addressing defaulters among employers who fail to pay members contribution in a timely manner, which is also equally important as this will directly benefit the members," he added.

https://www.nst.com.my/business/corporate/2...s-caution-watch

BREAKING: ZETRIX AI (aka MyEG) LIMIT DOWN!

Corporate Finance — Fri, 28 Aug 2026 11:39:15 +0800

Zetrix AI hits limit down to 29.5 sen/share

KUALA LUMPUR: Zetrix AI Bhd hit limit down in morning trade after plunging 30 sen or just over 50% of its value to 29.5 sen a share, prompting Bursa Securities to suspend intraday short-selling (IDSS) of the stock.

As at 11.08am, the trading stock of the digital services firm registered 749 million shares changing hands, making it the top traded counter on Bursa Malaysia with about 13 times the volume of the next most-active share.

Short-selling under IDSS has been suspended for the rest of the day due to the breach in price limit and will be reactivated on the next trading day (Tuesday, Sept 1) at 8.30am.

There has been no official reason as to the sudden breakdown in the share price, although investors had begun reducing their holdings in the share since yesterday when it lost nearly 10% of its value under heavy selling pressure.

On Aug 24, Zetrix announced a 35% year-on-year increase in net profit to RM269.25mil in the second quarter of the year, driven by contributions from its AI, Web3 and blockchain businesses. It declared an interim dividend of 0.25 sen.

According to a post-results analysis by BIMB Securities on Aug 26, Zetrix's growth prospects remained supported by the expansion in Malaysia-China trade, with trade with China rising 24.3% y-o-y to RM127.9bil in 7M26.

"As its blockchain-related revenue scales with trade-linked transactions, continued growth in bilateral trade flows should drive higher platform utilisation and recurring revenue," it said.

The research firm maintained its "buy" call on the stock with an unchanged target price of RM1.30.

Zetrix AI, formerly known as MyEG Services Bhd, underwent a name change in July 2025 as it pivoted its business focus to advanced technologies like AI, blockchain and robotics.

The company, via its MYEG platform, continues to offer services that include auto insurance and documentation as well as foreign worker and maid applications.

https://www.thestar.com.my/business/busines...to-295-senshare

Economist: Dear PMX, just implement back GST

Corporate Finance — Thu, 20 Aug 2026 14:44:51 +0800

Hybrid GST-SST System: Economist Dr Carmelo Ferlito Raises Concerns

Economist Dr Carmelo Ferlito says Malaysia should favour a simple GST over an increasingly complicated hybrid GST-SST system, while reducing other taxes and strengthening fiscal discipline.

In Brief

Dr Carmelo Ferlito is sceptical of a GST-SST hybrid, arguing tax systems work best when simple, transparent and stable.

Ferlito prefers a straightforward GST reintroduction paired with lower taxes and targeted aid for vulnerable households.

An economist remains sceptical that the government’s proposed hybrid of the Goods and Services Tax (GST) and existing Sales and Service Tax (SST) would work effectively, arguing that a tax system is most efficient when it is simple, transparent and stable.

Pacific Research Centre of Malaysia CEO Dr Carmelo Ferlito said the proposal should not be confused with the introduction of a completely new “hybrid tax system”, as the government was instead looking at incorporating elements of GST into the already implemented SST.

“And on this, I tend to be sceptical, as taxation works well when it is straightforward, easy to implement and stable over time,” he told TRP.

Ferlito said while he understood the political rationale behind retaining elements of the existing SST while adopting some features of GST, he remained unconvinced that combining the two would deliver a better tax structure.

He argued that GST was structurally superior to SST because it offered a broader tax base, greater transparency and caused fewer distortions throughout the production chain.

“Instead of creating an increasingly complicated hybrid, I would prefer a simple GST accompanied by lower taxes elsewhere and targeted assistance for genuinely vulnerable households,” he said.

Ferlito said the input-tax-credit mechanism was at the heart of GST’s efficiency, allowing businesses to offset tax paid on inputs against tax collected on their sales.

“Once you introduce that systematically (GST’s mechanism), you are essentially rebuilding a GST or VAT system. There is a limit to how much GST efficiency can be imported into SST without turning it into GST,” he explained.

Complexity Could Create More Distortions

Ferlito said attempts to simultaneously broaden the tax base while shielding large portions of consumption could ultimately make the system more complicated and vulnerable to distortions.

“The efficiency of GST comes precisely from having a broad base and avoiding multiple layers of taxation throughout production. Trying simultaneously to obtain a broad tax base while shielding most consumption is contradictory. Numerous exemptions and special rates would make the system more complex, create distortions and encourage lobbying,” he said.

He suggested that if GST were to be reintroduced, it should instead form part of a wider reform package involving reductions in other taxes, particularly those that create greater economic distortions.

Ferlito also called for a review of the current system of advance corporate taxation, arguing that it could place unnecessary pressure on businesses by requiring them to estimate and pay taxes on profits before those profits had actually been realised.

“This is why I would accompany the reintroduction of GST with lower income taxes and, in particular, the abolition of the absurd system of advance taxation paid now by firms,” he said.

Lower-Income Households Need Protection

Ferlito also acknowledged that consumption taxes could place a relatively heavier burden on lower-income households, as they generally spend a larger share of their income.

However, he said the solution should not be to make the tax structure increasingly complicated.

“Consumption taxes can weigh relatively more heavily on lower-income households because they consume a larger proportion of their income. But the better solution is not to complicate the tax itself. Keep the tax simple and reduce income taxes,” he said.

Ferlito said a broad GST could ultimately provide a more coherent and sustainable revenue base than an increasingly complicated SST, but cautioned against using tax reform simply as a means of continuously increasing government revenue.

“Malaysia does not simply need a better tax-collection machine; it needs fiscal discipline. If GST were reconsidered, I would support it as part of a revenue-neutral reform that reduces other, more distortionary taxes—not as an instrument for continuously expanding government revenue.”

No Rush To Introduce New Tax System Says The Government

The proposal is still at an early stage, with Finance Minister II Datuk Seri Amir Hamzah Azizan tasked with conducting a comprehensive study before presenting his findings to the Cabinet.

Communication Minister Datuk Seri Fahmi Fadzil yesterday said the study would examine lessons from Malaysia’s previous GST implementation as well as weaknesses under the current SST system, stressing that no decision had been made and the matter would not be rushed.

https://www.therakyatpost.com/news/2026/08/...erns/#gsc.tab=0

BREAKING: PMX WILL BRING BACK GST ELEMENTS!

Corporate Finance — Tue, 18 Aug 2026 13:27:41 +0800

Govt studying ways to improve sales and service tax, including combining GST elements — Anwar

PUTRAJAYA (Aug 18): Malaysia is studying improvements to the existing sales and service tax, including whether it can incorporate elements of the goods and services tax.

The initiative is premised on the government’s aim to develop a taxation system that is more “progressive and efficient”, Prime Minister Datuk Seri Anwar Ibrahim said in his closing speech at the Budget 2027 engagement session on Tuesday.

Some adjustments to the current tax regime are necessary, he said, conceding that the goods and services tax, or GST, “which I have said in the 90s, is the most transparent and efficient system”.

Malaysia implemented the GST in 2015 at a 6% rate under the administration of Datuk Seri Najib Razak. The implementation led to soaring inflation and widespread complaints of slow tax refunds that created a cash crunch for small- to medium-sized businesses.

The tax was suspended on June 1, 2018 after Pakatan Harapan took over the federal government, and was subsequently abolished and replaced with the current sales and service tax, or SST, on Sept 1, 2018. Both the SST and GST are considered regressive, as lower-income households tend to spend a larger proportion of their income on consumption than higher-income households.

The government is not looking to bring back the GST, Anwar stressed, noting that its broad-based nature would affect even the poorest. The government is looking at whether the strengths of both taxation systems could be combined into a new model, he said.

“How can we combine both systems to find a new way in determining a tax system that is more progressive and more efficient?” he said. “How do I then propose a tax system where everyone pays, albeit at a low rate of taxation?”

https://theedgemalaysia.com/node/814890

Akmal: Only 15% workforce pays income tax 🔥

Corporate Finance — Tue, 28 Jul 2026 21:42:30 +0800

PUTRAJAYA (July 28): Economy Minister Akmal Nasrullah Mohd Nasir said Malaysia will prioritise raising wages and expanding the tax base before considering a goods and services tax (GST) return, following the Organisation for Economic Co-operation and Development’s (OECD) recommendation for a broader consumption tax.

Akmal said only about 15% of Malaysia's workforce currently pays income tax, underscoring the need to address the country's structural wage issues before introducing broader taxes that could weigh on household consumption.

"While we respect the view from OECD, at the same time, I think what's more important is how to broaden our tax income," he said during a press conference after the launch of the latest OECD Economic Survey of Malaysia on Tuesday. "Without the higher pay or better wages, then whatever tax that we introduce may have some repercussions in terms of what people consume or what people earn."

The minister said the government's immediate priority is to tackle the structural issue of stagnant wages while considering tax reforms that can broaden revenue collection without undermining economic growth.

"For the country at this moment, the priority is to address the structural issues surrounding wages and people's incomes," he said.

The OECD, in its latest economic survey on Malaysia, urged the government to strengthen its fiscal position by reintroducing a broad-based consumption tax while compensating lower-income households through targeted cash transfers.

The organisation argued that expanding the scope of the sales and service tax (SST) is not the most efficient way to collect taxes on goods and services while tax revenues of below 13% of gross domestic product (GDP) leave Malaysia with limited fiscal space to fund higher spending on education, social protection and public investment.

Beyond reintroducing the GST, the OECD also recommended broadening the personal income tax base by streamlining deductions, limiting exemptions and taxing a wider range of capital income, alongside further strengthening tax administration.

https://theedgemalaysia.com/node/812257

OECD: Bumi policies reduce economic efficiency

Corporate Finance — Tue, 28 Jul 2026 20:49:56 +0800

KUALA LUMPUR (July 28): Malaysia should place greater emphasis on capability development rather than relying primarily on ownership-based policies to advance Bumiputera economic participation, the Organisation for Economic Co-operation and Development (OECD) said on Tuesday.

The OECD said affirmative action policies have historically relied on ownership quotas and preferential treatment in public procurement and licensing. While these measures have expanded Bumiputera representation in corporate ownership, they could also distort market signals and reduce economic efficiency.

It recommended that Malaysia adopt more market-oriented approaches, including targeted capacity-building programmes, skills upgrading and access-to-finance schemes that are transparent and performance-based rather than ownership-based.

The OECD suggested measures such as competitive grant schemes, open innovation funds and supplier development programmes linked to clear productivity benchmarks to help Bumiputera firms scale up without undermining competition.

"Digital platforms for procurement and MSME financing could also ensure equal access while maintaining affirmative action objectives through transparent scoring systems rather than discretionary exemptions," the OECD said in its latest Economic Survey of Malaysia.

Malaysia's affirmative action policy, introduced in 1971, was designed to increase Bumiputera participation in the economy, including through greater wealth creation, equity ownership and corporate representation.

In 2024, the government launched the Bumiputera Economic Transformation Plan 2035 (PuTERA35), which aims to raise Bumiputera equity ownership by individuals and through Bumiputera-mandated agencies to 30% by 2035.

The OECD said Malaysia could draw lessons from countries such as South Africa, Canada and Australia, where affirmative action policies have sought to promote inclusion without undermining competition.

It highlighted South Africa's Broad-Based Black Economic Empowerment framework, which uses enterprise development scorecards and skills training incentives to encourage firms to build supplier capacity and invest in workforce development.

In Canada, the Indigenous Procurement Strategy sets targets for Indigenous-owned businesses in federal contracting but relies on transparent bidding processes and capacity-building initiatives rather than preferential pricing.

Meanwhile, Australia's Indigenous Business Directory and mentoring programmes combine market access with performance-based support.

The OECD said these approaches share common features, including transparent eligibility criteria, competitive processes and an emphasis on developing capabilities rather than creating permanent structural advantages.

"Malaysia could adapt such mechanisms by linking affirmative action to productivity benchmarks and innovation outcomes to broaden Bumiputera participation while preserving efficiency and contestability," it said.

https://theedgemalaysia.com/node/812241

🔥 BREAKING: KWAP KENA DUPED 💦

Corporate Finance — Thu, 16 Jul 2026 13:51:06 +0800

KUALA LUMPUR (July 16): Retirement Fund Inc (KWAP) was deceived into investing nearly RM200 million in eFishery as a result of a “premeditated fraud” by the Indonesian agritech startup, according to Prime Minister Datuk Seri Anwar Ibrahim.

The fraud came in the form of the startup’s management manipulation of financial reports, which other international institutional investors also fell victim to, Anwar noted.

“The decision went through the evaluation and governance process, based on the information available at the time, which included verification of financial statements by internationally recognised certified auditors,” Anwar said in a written parliamentary reply on Wednesday (July 15).

“At the same time, the consortium of investors, including KWAP, also carried out independent due diligence to ensure that all information was complete and valid for investment consideration,” he added.

He underlined that several leading international institutional investors and technology funds also invested in eFishery. This included Temasek, SoftBank, 42XFund and Northstar.

“Nevertheless, the eFishery investment was a premeditated fraud, and there was manipulation of financial reports by the management of eFishery,” he said.

In 2023, eFishery was reported to have secured US$200 million from its Series D Funding round. Of this sum, US$47.7 million (RM194.35 million) was from KWAP.

Anwar was responding to Subang member of Parliament Wong Chen who asked what accountability measures had been or would be taken against KWAP’s board, investment panel and senior management over the approval and oversight of the investment.

Anwar said the consortium of investors, including KWAP, has initiated legal action and efforts to recover the funds.

He added that KWAP has also conducted a comprehensive review of the evaluation, approval and oversight processes for the investment, with the findings presented to the KWAP board for scrutiny and deliberation.

“Following those deliberations, follow-up actions have been taken in accordance with the institutional governance framework and principles of accountability,” he said.

“KWAP remains committed to managing the retirement funds of civil servants in a transparent, ethical and accountable manner. Improvements have been implemented to strengthen safeguards for future investment,” he added.

https://theedgemalaysia.com/node/810908

Today nothing to do go visit sales gallery..

Corporate Finance — Sat, 08 Apr 2017 23:17:11 +0800

Mana tau after a while decided to buy a unit lol

Working people come in

Corporate Finance — Fri, 07 Apr 2017 09:26:23 +0800

Working hard or work-life balance?

[WTB] Mitch Albom's book series

Corporate Finance — Wed, 15 Mar 2017 23:50:55 +0800

Anyone willing to let go can pm me please

Do shareholders actually read Prospectus/Circular?

Corporate Finance — Sun, 26 Feb 2017 18:05:06 +0800

As someone who prepares all these documents, wondering if people actually read these stuffs..

Finance professionals, what is your ideal job?

Corporate Finance — Sat, 28 May 2016 23:44:54 +0800

Investment Banking includes Corporate Finance (including M&A, PE, VC, etc.), ECM, DCM, Fund Management and Research Analysts, but does not include Traders, Remisiers and Dealers

Commercial / Corporate includes financial projection, budgeting, costs controlling and ultimately taking the role of CFO

Advisory / Consulting includes independent financial advisory and consulting in specified line of service (performance analysis, etc.)

Consumer and Retail Banking includes all aspects of banking including Private Banking, Corporate Banking, Business Banking and Personal Banking

Let me know if there are others.

[WTP] Tuition for Uni-Level of Finance Courses

Corporate Finance — Mon, 16 May 2016 21:40:28 +0800

Hi, I am providing tuition services for the following courses and subjects:

CMSRL:
- Module 12 (Investment Management and Corporate Finance)
- Module 19 [Advisory Services (Rules and Regulations)]

Uni-Level:
- Foundation of Finance
- Corporate Finance
- Derivatives
- Investments
- Corporate Valuation

Will provide guidance and assistance on the related assignments if required.

A-Levels:
- Mathematics
- Further Mathematics

SPM:
- Mathematics
- Additional Mathematics

Rates and locations (Klang Valley) can be discussed and negotiated.

PM me for further details, thanks!

[WTP] Tuition for Uni-Level of Finance Courses

Corporate Finance — Mon, 16 May 2016 00:00:39 +0800