Day: September 25, 2024

KUALA LUMPUR, RHB Investment Bank Bhd (RHB IB) has estimated that the dividend payout from Petroliam Nasional Bhd (Petronas) will be lower than RM32 billion in 2025, attributed to a weaker performance in 2024 amid declining oil prices. The investment bank said that gaining insight into Petronas’ dividend expectations for 2025 is crucial, particularly as discussions continue between Petroleum Sarawak (Petros) and Petronas. RHB IB also indicated that the government is likely to prioritise green energy initiatives to support the National Energy Transition Roadmap. ‘In line with this, we would not be surprised to see an allocation for renewable energy

KUALA LUMPUR, RHB Investment Bank Bhd (RHB IB) has estimated a net development expenditure of around RM90 billion in Budget 2025 as Malaysia enters the final year of the 12th Malaysia Plan. In its research note today, it said the government has ‘little room for excesses’ as public finance is ‘tight’. It expects Budget 2025, to be tabled on Oct 18, to hold ingredients that encapsulate fiscal prudence, compassion for lower-income segments, commitment to reform, and clarity on initiatives to broaden the tax base. “RHB Economics forecasts 2025 fiscal deficit target of 3.5 per cent against the 4.3 per cent

PUTRAJAYA, AirAsia Drone has partnered GIT Academy, one of Malaysia’s oldest tourist guide training academies to equip licensed tourist guides with essential drone piloting knowledge. AirAsia Drone said the collaboration offers certified drone courses including drone piloting competency, drone photography and videography courses. “The courses will help tourist guides to operate drones safely and legally, as the popularity of drone photography grows,” AirAsia Group Bhd said in a statement today. The collaboration highlights the importance of ensuring legal compliance and safety in the rapidly growing drone operations and will enhance the skills of Malaysia’s licensed tourist guides. With drones becoming

JAKARTA, The Asian Development Bank (ADB) has revised its economic growth forecast for developing Asia and the Pacific to 5.0 per cent this year, up from the previous estimate of 4.9 per cent in April. The projection is driven by robust domestic demand and strengthening export growth. At the same time, the bank also lowered its inflation forecast for the region to 2.8 per cent this year from 3.2 per cent previously, but maintained the inflation forecast for next year at 4.9 per cent. In its latest ‘Asian Development Outlook September 2024’ released on Wednesday, the ADB attributes the optimistic

KUALA LUMPUR, Malaysia demonstrated impressive growth in financial assets in 2023, with per capita net financial assets reaching EUR9,430 (1 EUR=RM4.6427), according to Allianz Malaysia Bhd. This achievement positions Malaysia firmly in the mid-range globally and within Asia, reflecting a positive trend in the country’s financial landscape, the company said in its latest Global Wealth Report. Allianz highlighted that the primary driver of this growth was the insurance and pensions sectors. ‘These sectors accounted for 42 per cent of the country’s financial portfolio, an increase of 9.8 per cent, the fastest growth in five years. ‘Bank deposits also grew solidly