Malaysia's freshest news, trending stories and local buzz.
Malaysia's Malaysian Anti-Corruption Commission, Royal Malaysian Police, and Inland Revenue Board are accelerating probes into Tabung Haji following damning Royal Commission findings, marking a critical moment for institutional accountability.
Tax authorities face mounting pressure to investigate potential tax evasion by the Tabung Haji group and its subsidiary companies following damaging revelations from an ongoing Royal Commission of Inquiry.
A Royal Commission of Inquiry report reveals that Tabung Haji's 2017 financial position was significantly worse than publicly reported, with the pilgrimage fund operator should have recorded a RM1.4 billion net loss rather than a RM3.4 billion profit.
Prime Minister Anwar Ibrahim has announced that Malaysia's government will commence work on Budget 2027 in August, with formal parliamentary tabling scheduled for early October. The budget will prioritise translating economic growth into improved living standards for citizens.
Penang has engaged PricewaterhouseCoopers to develop strategic documents for its proposed International Financial Centre, leveraging the state's strengths in electronics and global supply chains.
Malaysia's Retirement Fund (KWAP) is aggressively pursuing multiple recovery avenues following its substantial RM163.4 million investment loss in eFishery, which imploded amid fraud allegations.
Langkawi Development Authority is collaborating with Malaysia's Finance Ministry and Customs Department to tackle double taxation affecting local SMEs, aiming to boost their competitiveness beyond the island.
Malaysian banks are accelerating AI deployment across operations, yet most lack mature governance structures and strategic frameworks. Only 15% have reached established AI readiness levels, revealing significant capability gaps.
The Asian Institute of Chartered Bankers calls for Malaysian banks to shift focus from AI adoption to trustworthy implementation, backed by robust governance frameworks and skilled talent as the sector accelerates digital transformation.
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Finance Minister Datuk Seri Amir Hamzah Azizan has stressed that the banking industry's future depends on blending artificial intelligence with human judgment, ethical governance and significant investment in skilled talent.
Malaysia's Finance Ministry and banking sector have jointly agreed to waive the RM1 fee for interbank cash withdrawals at ATMs and Smart Recycler Machines starting July 1, addressing financial hardship in underserved communities.