Set up support scheme to help SMEs face US tariffs, says MCA
As a key pillar of the national economy, SMEs have made significant contributions to export-oriented industries. Without timely and effective support, Malaysia's overall trade performance and employment stability may be negatively affected.
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New Straits Times
27 minutes ago
- New Straits Times
Nine listed Malaysian firms in Forbes Asia's best under US$1bil list
KUALA LUMPUR: Nine Malaysian public listed companies have earned a spot on Forbes Asia's 2025 Best Under A Billion list, which highlights 200 top-performing small and mid-sized firms across Asia Pacific with annual revenue under US$1 billion (RM4.23 billion). They are Able Global Bhd, Crescendo Corp Bhd, Frontken Corp Bhd, Hibiscus Petroleum Bhd, Hup Seng Industries Bhd, ITMAX System Bhd, Kerjaya Prospek Group Bhd, Pekat Group Bhd and Scientex Bhd. Forbes Asia announced the list today, recognising 200 resilient and high-performing small and mid-sized public companies in the region. In a statement, Forbes Asia said trade tensions continue to affect the Asia Pacific economy, with growth expected to slow further according to the International Monetary Fund. Despite this, it said the companies on the list demonstrated strong performance over the past year, with many thriving despite the economic challenges. The financial services sector stood out, with 18 companies making the list compared to eight last year. The beauty industry also remained strong, with 13 companies mostly from South Korea earning a place. Other businesses benefited from growing demand in sectors such as renewable energy, electric vehicles and data centres. A total of 69 companies from last year's list returned in 2025, reflecting consistent performance. The Best Under A Billion list features publicly listed companies in the Asia Pacific with annual revenue between US$10 million and US$1 billion. From a pool of more than 19,000 companies, the final 200 were selected based on a composite score measuring debt levels, revenue and earnings per share growth over the latest one and three-year periods, and return on equity over one and five-year periods. Among the returnees is India's Triveni Turbine, which makes turbines of up to 100 megawatts used across industries such as cement, steel, chemicals and by independent power producers. South Korea-based PharmaResearch, which also appears on the list for the second consecutive year, is best known for its flagship skincare treatment product Rejuran, derived from salmon DNA. Another company returning to the list is DCI Indonesia, the country's largest data centre operator with 119 megawatts (MW) of capacity, which plans to add another 9MW when its new Surabaya facility opens later this year. Buoyed by Asia's growing wealth, Singapore-based wealth management platform iFast made its debut on this year's list, recording a record S$27 billion in assets under administration by the end of June. Taipei-based HD Renewable Energy, a solar and battery storage company, made the list with record 2024 revenue of NT$10 billion (US$310 million), up 73 per cent on rising demand for green energy. Since its launch in 2002, Forbes Asia's "Best Under A Billion" list has highlighted some of the region's biggest success stories, including Baidu, Alibaba, Infosys, Jollibee and AirAsia.
The Star
an hour ago
- The Star
Bank Negara, BI and BOT widen local currency transaction framework
KUALA LUMPUR: Bank Negara Malaysia, Bank Indonesia (BI) and the Bank of Thailand (BOT) have appointed additional qualified commercial banks as Appointed Cross-Currency Dealers (ACCDs) under the Local Currency Transaction Framework (LCTF). In a statement, Bank Negara said these banks will facilitate cross-border trade and investment settlements in local currencies between the respective countries. The central bank added that this initiative follows a series of enhancements to the LCTF announced on Feb 17, 2025. 'The expanded ACCD network will strengthen customer outreach, enhance market access to local currency liquidity, and provide businesses with more options for cross-border transactions between Malaysia, Indonesia and Thailand,' it said. 'Bank Negara, BI and BOT remain committed to supporting trade and investment growth through closer financial collaboration under the LCTF.' Among the newly appointed banks are AmBank (M) Bhd, Bank of China (Malaysia) Bhd, OCBC Bank Malaysia Bhd, Standard Chartered Bank Malaysia Bhd and Sumitomo Mitsui Banking Corporation Malaysia Bhd. The expanded list of ACCDs covers local currency pairings between the Malaysian ringgit (MYR), Indonesian rupiah (IDR) and Thai baht (THB). The newly appointed banks are listed below: CLICK TO ENLARGE
New Straits Times
an hour ago
- New Straits Times
Bank Negara widens local currency banking network
KUALA LUMPUR: Bank Negara Malaysia (Bank Negara), Bank Indonesia (BI), and the Bank of Thailand (BOT) have jointly announced the appointment of additional qualified commercial banks to operationalise the Local Currency Transaction Framework (LCTF). In a statement today, Bank Negara said these qualified banks, known as appointed cross-currency dealers (ACCDs), will facilitate cross-border settlement of trade and investment between the respective countries. The initiative follows several enhancements to the LCTF announced on Feb 17, 2025. "The expanded ACCD network will strengthen customer outreach, enhance market access to local currency liquidity, and provide businesses with enhanced options for cross-border transactions between Malaysia, Indonesia and Thailand. "Bank Negara, BI, and BOT continue to support trade and investment growth through closer financial collaboration under the LCTF," it added. For the Malaysia–Indonesia corridor (MYR-IDR), the appointed Malaysian banks are AmBank (M) Bhd, Bank of China (Malaysia) Bhd, OCBC Bank Malaysia Bhd, Standard Chartered Bank Malaysia Bhd, and Sumitomo Mitsui Banking Corporation Malaysia Bhd. On the Indonesian side, the appointed banks are PT Bank Danamon Indonesia Tbk, PT Bank OCBC NISP Tbk, PT Bank Pembangunan Daerah Jawa Timur Tbk, and Bank of China (Hong Kong) Ltd Jakarta Branch. For the Malaysia–Thailand corridor (MYR-THB), the Malaysian banks appointed are AmBank (M) Bhd, Bank of China (Malaysia) Bhd, Hong Leong Bank Bhd, OCBC Bank Malaysia Bhd, and Sumitomo Mitsui Banking Corporation Malaysia Bhd. The Thai counterpart is Bank of China (Thai) Public Company Ltd. For the Indonesia–Thailand corridor (IDR-THB), the Indonesian banks appointed are PT Bank OCBC NISP Tbk and Bank of China (Hong Kong) Ltd Jakarta Branch, while the Thai bank appointed is Bank of China (Thai) Public Company Ltd.
