KUALA LUMPUR (Feb 27): Petroliam Nasional Bhd (PETRONAS) is preparing for full Peninsular Malaysia gas market liberalisation in 2028, its top officials said, which could see market pricing for gas sold in the domestic market across commercial, industrial and power sectors. Now, what is needed to spur this importation of energy will be the full market liberalisation, which you can expect by 2028 as per the latest projection that we hear from the government. PETRONAS sold about 2,171 million standard cubic feet per day of natural gas in the domestic market last year. As demand rises, PETRONAS has been importing more and more gas from overseas at market prices. The bulk of domestic supply goes to the power sector, which enjoys a price cap on a certain portion of gas supply up until 2027.

The number of flood victims across four districts in Sabah has risen to 6,655, up from 5,532 earlier in the morning. – Bernama picTENOM: The number of flood victims across four districts in Sabah has risen to 6,655, up from 5,532 earlier in the morning. As of 4pm, the Sabah State Disaster Command Centre reported that evacuee numbers in Beaufort, Membakut and Tenom were continuing to climb. Tenom recorded the highest number of evacuees at 4,345, followed by Beaufort with 1,529 and Membakut with 441. The number of victims in Sipitang remained at 340, while Sook has closed all its relief centres.

North of the city, another group of Gulf tourists crowd into a hot air balloon to drift over a vast snowy landscape. Four years into Russia's war in Ukraine, Moscow's pivot away from the West and its quest to draw nearer to other parts of the world has produced an Arabic-speaking tourism boom. There are more direct flights between Moscow and key Gulf capitals, new visa-free regimes and closer diplomatic ties due to the roles of Qatar, the UAE and Saudi Arabia in brokering prisoner exchanges or the handover of children to Ukraine. "Virtually all Arab countries have at least doubled their numbers, said Alexander Musikhin, general director of the Intourist tour operator. Western sanctions mean Visa and Mastercard do not work in Russia, "so it has to be in cash", UAE tourist Rashan Godani said.

WASHINGTON (Feb 26): New York City Mayor Zohran Mamdani said he had a productive meeting with US President Donald Trump at the White House on Thursday, discussing issues including housing and student detentions by federal immigration authorities. Mamdani posted a photo with Trump on social media. I'm looking forward to building more housing in New York City," Mamdani wrote. A former real estate developer, Trump had brightened at Mamdani's call for more housing in New York. Mamdani has criticized Trump's hard-line immigration crackdown, especially his use of ICE agents and deportation attempts, along with the president's policies towards Israel's war in Gaza.

The Hong Kong conglomerate had also acted with "arrogance" and without transparency, he said. Everything those people produce goes through the canal ... All the gas that reaches them goes through the Panama Canal. CK Hutchison did not respond to a request for comment regarding the search or Mulino's comments. Panama's top court recently declared unconstitutional CK Hutchison's contracts to operate port terminals at the entrance to the Panama Canal, leading the government to annul the deals. CK Hutchison has said it sees the decision as unlawful and is considering legal action.

KUALA LUMPUR (Feb 27): Hibiscus Petroleum Bhd (KL:HIBISCS) reported on Friday a 15% decline in its latest quarter earnings as higher operating and administrative costs offset the small gain in sales volume amid softer realised oil and gas prices. Revenue fell 16.6% to RM544.49 million from RM653.18 million previously, mainly due to lower average realised prices for oil, condensate and gas. On a quarter-on-quarter basis, however, Hibiscus net profit more than 250% from RM20.1 million, as revenue jumped 25.7% q-o-q from RM433.06 million on higher sales volume, although partly offset by the impact of the weakening US dollar. The group declared a second interim single-tier dividend of two sen per ordinary share, payable on April 24, bringing total dividends declared to date for FY2026 to four sen per share. It has set a minimum total dividend target of eight sen per share for FY2026 if average oil prices range between US$65 (RM252.91) and US$75 per barrel, and 10 sen per share if oil prices exceed US$75 per barrel.

Group managing director and group chief executive officer Datuk Mohd Rashid Mohamad said the bank has lifted its dividend payout ratio guidance from the previous 30%-50% band to a higher range of 50%-60%. “I'm pleased to share that we have moved our guidance [for dividend payout ratio] now to 50% to 60%," he said in a press conference following the release of the bank's financial results on Friday. "The 65% dividend payout this year is also at the back of our good result for 2025,” he added, noting that the bancassurance partnerships helped support a higher payout for last year. On FY2026 capital plans, Mohd Rashid said “there’s no capital management plan as yet for now”, noting that the bank’s capital position remains sufficiently strong. RHB’s common equity Tier 1 (CET1) capital ratio strengthened to 15.2% post-dividend, a level analysts consider robust.

Chemical plants, steel mills, car assembly lines, food processors and electronics production facilities all yield different outputs, but share a critical input they can't do without: industrial heat. To help provide greater regulatory certainty and attempt to drive energy costs lower, Europe's policy makers are set to release new measures this spring aimed at rapidly scaling up electric industrial heat technologies to serve the needs of businesses without fossil fuels. In the run-up to the much-anticipated 2026 EU Electrification Action Plan, several major European think tanks are weighing in with suggestions on the best ways to electrify industrial heat and help businesses return to growth. One set of proposals that features input from the Fraunhofer Institute - which specialises in applied research for industry - focused mainly on the potential for electrifying low and medium temperature industrial process heat. Accomplishing all of those goals on an accelerated time frame across multiple countries will be one of the toughest challenges ever faced by European policymakers and businesses.

KUALA LUMPUR (Feb 27): Bumi Armada Bhd’s (KL:ARMADA) financial year ended Dec 31, 2025 (FY2025) net profit fell 31% to RM439.05 million, down from RM634 million in FY2024, mainly due to lower contributions from the Armada Kraken and Armada Olombendo FPSOs. Revenue dropped to RM1.59 billion from RM2.3 billion. Finance costs for the year fell by RM66.7 million, reflecting ongoing deleveraging and lower interest rates. Total liabilities fell 35% to RM2.89 billion, mainly from the foreign exchange impact, repayment of customer advances, and borrowings. CEO Gary Christenson said the stronger financial position allows Bumi Armada to bid for new projects.

BENGALURU (Feb 27): Gold was broadly steady on Friday as a drop in US Treasury yields eased the opportunity cost of holding bullion, while muted safe-haven demand kept prices in check as investors assess US-Iran negotiations. Spot gold edged 0.1% lower to US$5,180.09 per ounce by 0752 GMT. Gold was set for its seventh straight month of gains, rising more than 6% in February, a month in which renewed US tariff uncertainty and US-Iran tensions boosted its safe-haven appeal. Spot silver rose 1.9% to US$90.10 per ounce, and was headed for a 6.5% gain on the month. Spot platinum climbed 5.5% to US$2,398.12 per ounce, a four-week high, while palladium gained 2.8% to US$1,834.52.

KAJANG (Feb 27): Prime Minister Datuk Seri Anwar Ibrahim has confirmed that the proposal to establish a Royal Commission of Inquiry (RCI) over issues involving the Malaysian Anti-Corruption Commission (MACC) was discussed at Friday’s Cabinet meeting. He said discussions proceeded smoothly and that an official statement detailing the matter would be issued soon. “We discussed it earlier. A statement will follow,” he told reporters after Friday prayers at Masjid Pekan Kajang here. The ‘corporate mafia’ allegations revolve around claims that senior MACC officials orchestrated a campaign of intimidation, pressuring executives and shareholders of publicly listed companies to resign or sell their shares at steep discounts to a network of connected businessmen.

KUALA LUMPUR (Feb 27): Datuk Seri G Gnanaraja, the key witness in the Penang undersea tunnel trial, has maintained that the RM19 million which he obtained from Consortium Zenith BUCG Sdn Bhd (CZBUCG) and its director Datuk Zarul Ahmad Mohd Zulkifli was a “friendly loan”, despite him being charged for cheating Zarul Ahmad in 2019. The defence in Lim’s trial was testing Gnanaraja’s credibility as a witness when Ramkarpal asserted to the businessman that as a result of the allegations of cheating by Zarul Ahmad, Gnanaraja was considered a fraudster and could not be trusted. In response to questions from Ramkarpal, Gnanaraja also admitted that he had received a letter of demand from Zarul Ahmad’s solicitors from Messrs Shahrul Hamidi and Noh sometime in July 2017. However, when Lim’s defence counsel asserted that the TIC proves that Gnanaraja is a fraudster, Gnanaraja denied the allegation. Lim is on trial for using his position as the then-Penang CM to solicit a 10% cut in the RM6.3 billion undersea tunnel project’s profits from Zarul Ahmad, in return for aiding Zarul Ahmad’s company to secure the project.

(Feb 27): Singapore is projecting a S$24.9 billion (RM77.8 billion) defence expenditure for 2026, a 6.4% increase from last year as the city-state seeks to bolster its capabilities, Defence Minister Chan Chun Sing said on Friday. Chan told lawmakers that Singapore, “more than ever,” needs a strong and capable defence to secure its national interests amid a worsening geopolitical climate. “Going forward, I expect the growth in defence spending to keep pace with GDP, barring major shocks,” the minister told Parliament. As part of its modernisation, Singapore will acquire three Gulfstream G550 maritime surveillance aircraft. The new planes will complement the recently approved US$2.3 billion purchase of four Boeing P-8A Poseidon maritime patrol aircraft, Chan said.

(Feb 27): Mizuho Financial Group Inc is planning to replace about 5,000 administrative jobs in Japan with artificial intelligence (AI) over the next 10 years, as the country’s third-largest lender tries to boost productivity. “We are planning to enhance our earnings capabilities by shifting human resources to our focus areas by fully utilising AI,” Mizuho said in a statement. Mizuho has about 15,000 clerical positions at its core banking units and other group companies, and affected employees will be transferred to other roles, the bank said. Global banks are heavily investing in AI to improve operations ranging from product development to risk management. JPMorgan Chase & Co spends about US$2 billion (RM7.78 billion) annually on developing AI technology, an investment that it says also saves about the same amount each year.

The South Korean won slid 0.5% in late trade as foreign investors pared equity exposure after Seoul shares snapped a six-day winning streak. The MSCI gauge of emerging market currencies snapped a five-session winning streak to fall 0.3%. The MSCI gauge of emerging market equities fell 0.5% on Friday after a nine-session winning streak. Shares in Seoul snapped six straight days of gains to fall 1%, while those in Manila and Jakarta slipped 0.3% each. Next week, investors will focus on South Korean trade data on Monday and inflation readings from the Philippines, South Korea and Thailand on Thursday.