Business

KUALA LUMPUR,, The boycott movement on foreign businesses and products is not seen to have a significant impact on the national economy, the Ministry of Economy said. Through a reply posted on the Parliament’s website today, the ministry said the boycott has not impacted the economy since the contribution of the food and beverage subsector to the gross domestic product (GDP) is small, which is 2.4 per cent in the first quarter of 2024. The government will continue to work to ensure that the country’s economy continues to grow and is not affected by any boycott movements, said the ministry.

KUALA LUMPUR,, CelcomDigi Bhd has submitted its proposal on the deployment of Malaysia’s second 5G network to the Malaysian Communications and Multimedia Commission (MCMC) this morning. Its chief executive officer, Datuk Idham Nawawi said the proposal highlights CelcomDigi’s commitment to building an advanced 5G network and accelerating its adoption among consumers and businesses. ‘We believe that we have submitted a compelling case to deploy Malaysia’s second 5G network – either alone or in partnership with others – towards ensuring a thriving 5G ecosystem built for the nation,’ he said in a statement today. The telco emphasised its ability to deliver

IMB Group Appoints Tengku Azmil As CIMB Thai Bank’s Chairman, Effective July 19 KUALA LUMPUR,, CIMB Group Holdings Bhd has appointed Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz as the CIMB Thai Bank’s chairman and director, effective July 19, 2024. Tengku Azmil succeeded Datuk Robert Cheim Dau Meng, who has retired. In a filing with Bursa Malaysia today, CIMB said Tengku Azmil was appointed as the non-independent director of CIMB Group on July 1, 2024. ‘Formerly the chief investment officer at Khazanah Nasional Bhd (Khazanah), he served Khazanah in various senior positions, including deputy managing director and executive director

KUALA LUMPUR,, Kuwait Finance House KSCP said it has decided to voluntarily withdraw from the Malaysian market and wind down Kuwait Finance House (Malaysia) Bhd (KFHMB) after 19 years of operation. The group said in a statement here today that this followed a recent announcement on the group’s international business strategic review to focus on and expand in regional markets namely Gulf Cooperation Council (GCC) countries and the Middle East. Acting chief executive officer Ida Aizun Husin said KFHMB is profitable and remains solvent as the group approach this transition with a strong financial foundation, ensuring that all their commitments

KUALA LUMPUR,, Santan AirAsia has launched the brand new Santan Value Combo, offering an array of tantalising hot meals starting from as low as RM10. Santan chief executive officer Catherine Goh said the offering underscores its dedication to providing AirAsia guests with good food, good coffee and good value without compromising on the quality and taste of the food. Santan is the catering arm of Capital A Bhd, which was formerly known as AsiaAsia Group Bhd. ‘We believe that dining on board should be an enjoyable experience, and we are proud to introduce innovative options that are not available on