Malaysia's cross-border insolvency bill to boost investor confidence
The bill, approved by a majority voice vote in the Dewan Rakyat on July 29, will next be presented to the Dewan Negara. Azalina highlighted its significance for Malaysia's economic growth, stating, 'For many outside the business sector, cross-border insolvency may not be clear. But for businesses, it is crucial for a developing nation like Malaysia.'
Speaking at the Islamic Arbitration Conference 2025 at the Asian International Arbitration Centre (AIAC), she emphasised that the reform reflects Malaysia's dedication to keeping up with global standards. 'This bill reassures investors that Malaysia is keeping pace with international practices,' she added.
Azalina also noted Malaysia's leadership in Shariah-compliant sectors, including Islamic finance and banking. 'Given our strong foundation, we must expand our influence in Shariah-based Alternative Dispute Resolution (ADR),' she said, commending AIAC's new Islamic mediation rules.
AIAC CEO Datuk Almalena Sharmila Johan highlighted the growing need for culturally sensitive dispute resolution in cross-border commerce. The centre is preparing to launch the 2025 Suite of Rules, including updated i-Arbitration Rules, to provide Shariah-compliant solutions for global users. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
8 minutes ago
- The Star
Eutelsat reports better-than-expected full year earnings
FILE PHOTO: Eutelsat Group logo is pictured at their Paris headquarters in Issy-les-Moulineaux, France, April 3, 2025. REUTERS/Benoit Tessier/ File Photo (Reuters) -French satellite operator Eutelsat reported better-than-expected annual earnings on Tuesday, driven by growing interest in its satellite internet services from government and corporate customers. Eutelsat gained the spotlight this year as European governments sought home-grown solutions for satellite services, aiming to reduce their reliance on U.S. providers. Revenues from video, connectivity and government services reached 1.24 billion euros ($1.43 billion) in the year ended June 30, up 0.8% from a year earlier. Financial analysts had expected those revenues to total 1.21 billion euros, according to a consensus poll provided by Eutelsat. The Paris-based group hopes to offset declining income from its video business by gaining a foothold in the satellite internet market, where SpaceX's Starlink dominates. Eutelsat said revenues from its low Earth orbit (LEO) satellites rose 84.1% yearly to 187 million euros. Higher revenues for government services reflected services delivered in Ukraine and increased demand from other non-U.S. governments, the company said. Eutelsat expects LEO revenues to grow by 50% next year, saying it will compensate, but not yet outweigh the decline in its legacy business, which are impacted by additional Russian sanctions. ($1 = 0.8643 euros) (Reporting by Gianluca Lo Nostro; Editing by Matt Scuffham)
The Star
38 minutes ago
- The Star
China's Baidu to deploy robotaxis on rideshare app Lyft
Lyft and Baidu said Monday that "in the following years" the fleet of Apollo Go driverless cars will be expanded to thousands of vehicles across Europe. — Photo by P. L. on Unsplash BEIJING: Chinese internet giant Baidu plans to launch its robotaxis on rideshare app Lyft in Germany and Britain in 2026, pending regulatory approval, the two companies said on Monday. Last month, Baidu announced a similar agreement with Uber in Asia and the Middle East as it seeks to take pole position in the competitive autonomous driving field both at home and abroad. Lyft and Baidu said Monday (Aug 4) that "in the following years" the fleet of Apollo Go driverless cars will be expanded to thousands of vehicles across Europe. They did not specify which other countries the cars would be deployed in, and it was not clear how long it might take to gain regulatory approval for the initial deployment. Driverless taxis are already on some roads with limited capacity in the United States and China, most notably in the central city of Wuhan, where a fleet of over 500 can be hailed by app in designated areas. Their reach is spreading, with Shanghai's financial district Pudong recently announcing a batch of permits for multiple companies to operate robotaxis. China's tech companies and automakers have poured billions of dollars into self-driving technology in recent years, with intelligent driving the new battleground in the country's cutthroat domestic car market. Baidu is not alone among Chinese companies in searching to expand its foothold abroad. Its rival WeRide is also active in the Gulf region, and in January announced it had been picked to lead a small pilot project in Switzerland. another Chinese company, said in May that it had signed a deal to launch its self-driving taxis on Uber in "a key market in the Middle East later this year". San Francisco-based Lyft in April said it had agreed to buy German taxi app Freenow, planting a flag in the European market. The acquisition marked Lyft's "most significant expansion outside North America", the group said. – AFP
New Straits Times
38 minutes ago
- New Straits Times
YTL Power surges ahead on Wessex Water tariff upside, data centre growth
KUALA LUMPUR: YTL Power International Bhd is charging ahead with renewed momentum, powered by robust earnings from its UK-based Wessex Water and rapid expansion in its data centre operations, even as some segments face near-term headwinds, according to CIMB Securities. Effective April 1, 2025 (FY25), Wessex Water implemented a 21 per cent year-on-year (YoY) hike in metered charges – well above the research firm's earlier assumption of a 13 per cent increase. The steeper tariff has prompted the research house to lift its FY25–FY27 core net profit (CNP) forecasts for Wessex Water by 38 per cent to 52 per cent. CIMB Securities now expects YTL Power's water and sewerage segment to deliver a strong earnings rebound, with CNP projected at RM242 million in FY25, surging to RM533 million in FY26 (+120 per cent YoY), and RM571 million in FY27 (+7 per cent YoY). Meanwhile, YTL Power's data centre operations are emerging as a robust growth pillar. Following a reassessment of operating expenditures, CIMB Securities revised its earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin estimate for the co-location (co-lo) data centre segment from 50 per cent to 70 per cent, citing improved cost visibility and scalability. With an existing capacity of 188 megawatts (MW) fully leased, CIMB Securities expects YTL Power to kick-start new phases of development, incorporating an additional 160 MW to come online progressively in FY27–FY28. As a result, co-lo data centre CNP is forecast to rise from RM115 million in FY26 to RM431 million by FY29. Excluding this expansion, CIMB Securities's fair value estimate for YTL Power stands at RM4.08. The research firm had earlier revised its overall FY25–FY27 group-level CNP forecasts lower by 7 per cent to 17 per cent, reflecting a more cautious view on Power Seraya and AI data centre contributions, partially offset by improved earnings from Wessex Water and the co-lo data centre segment. CIMB Securties expects group CNP to decline 17 per cent YoY in FY25 before rebounding by 9 per cent in FY26 and inching up 1 per cent in FY27. Despite the downward revisions, CIMB Securities has raised its sum-of-parts-based target price for YTL Power, driven by a 72 sen increase in co-lo data centre fair value, a 12 sen uplift from Wessex Water, and an 11 sen boost from lower risk-free rate assumptions. However, the outlook for Power Seraya remains subdued. CIMB Securities slashed its FY25–FY27 CNP forecasts for the Singapore-based unit by 16 to 31 per cent, reflecting lower-than-expected pool and retail electricity prices for the first nine months of FY25, as well as the earlier expiry of favourable fuel supply contracts. Seraya's CNP is now expected to fall by 32 per cent in FY25, 12 per cent in FY26, and 15 per cent in FY27. Although near-term EBITDA/MWh assumptions have been revised down, CIMB maintains a long-term benchmark of S$60/MWh, resulting in a 14 per cent cut to Seraya's fair value, or 28 sen. Overall, CIMB Securities remains constructive on YTL Power's long-term trajectory, underpinned by Wessex Water's strong regulated earnings and the scaling potential of its data centre ventures.
