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KUALA LUMPUR (Reuters) - Malaysia is scouting for foreign investors in high-value industries such as electric vehicles, semiconductors and carbon capture, its trade and investment minister said on ...
Google plans to invest $2 billion in Malaysia, developing its first data center and a Google Cloud hub in the latest big foray by a U.S. tech giant in the Southeast Asian country. The news follows ...
China's ByteDance, parent of social media app TikTok, plans to invest around 10 billion ringgit ($2.13 billion) to set up an artificial intelligence hub in Malaysia, the country's trade minister ...
The 1Malaysia Development Berhad scandal is an ongoing political scandal in Malaysia, [1] in which then-Prime Minister Najib Razak was accused of channeling over RM 2.67 billion (approximately US$700 million) into his personal bank accounts from 1Malaysia Development Berhad (1MDB), a government-run strategic development company.
Malaysia has 16 fully-fledged Islamic banks including five foreign ones, with total Islamic bank assets of US$168.4 billion, which accounts for 25% of the Malaysia's total banking assets. [2] This in turn accounts for over 10% of the world's total Islamic banking assets.
1Malaysia Development Berhad [10] (1MDB) started off as Terengganu Investment Authority (TIA) which was initiated by the Menteri Besar of Terengganu at the time, Ahmad Said in 2008. TIA was a sovereign wealth fund with an initial fund of RM11 billion (US$3.25 billion in 2008) aimed at ensuring the economic development of Terengganu state .
The Malaysian Investment Development Authority (Malay: Lembaga Pembangunan Pelaburan Malaysia), abbreviated MIDA, previously known as Malaysian Industrial Development Authority is the government's principal agency to oversee and drive investment into the manufacturing and services sectors in Malaysia.
According to the Income Tax Act 1967 Schedule 7A- Reinvestment Allowance Subject to this Schedule, where a company which is resident in Malaysia has been in operation for not less than twelve months; and has incurred in the basis period for a year of assessment capital expenditure on a factory, plant or machinery used in Malaysia for the ...