Tesla billionaire buys more Nvidia shares to ‘calm nervous market’
(March 9): Billionaire Leo KoGuan doubled his stake in Nvidia Corp to two million shares, boosting his investment in the chipmaker at a time when the war in the Middle East has sparked a global sell-off of everything from bonds to equities. “As promised, I bought additional one million shares of NVDA today,” the investor posted early on Saturday on X, days after he announced his first purchase. While small relative to his US$13.4 billion (RM53.1 billion) fortune, as measured by the Bloomberg Billionaires Index, the acquisition is a notable move by KoGuan whose net worth for years largely has been tied up in just one stock: Tesla Inc. Nvidia has fallen about 5% this year through last Friday’s close, while Tesla is down nearly 12%, compared with a less-than-2% drop in the S&P 500. KoGuan, who is estimated to have spent roughly US$350 million to acquire his Nvidia shares based on their recent closing prices, didn’t comment about his purchase beyond saying that, “Hopefully, I can contribute a little to calm the nervous market.
Source:The Edge Markets
March 09, 2026 07:18 UTC
Study on amending laws for KL local elections due by month’s end — Hannah
KUALA LUMPUR (March 9): A feasibility study on proposed amendments to the Federal Capital Act 1960 to allow local government elections (LGOs) in the capital, including the election of the Mayor of Kuala Lumpur, is expected to be completed by the end of this month. Minister in the Prime Minister’s Department (Federal Territories) Hannah Yeoh said the study, conducted by the International Islamic University Malaysia (IIUM), is currently ongoing, and an interim report has already been presented to the government. They have met once, and there is an interim report, but the interview sessions with stakeholders are still ongoing. On Feb 3, Hannah said the feasibility study on holding local authority elections in the capital, including the election of the Kuala Lumpur Mayor, had already begun during the tenure of the previous Federal Territories minister. She said the study commenced last December following the tabling of a Private Member’s Bill in the Dewan Rakyat by a Member of Parliament.
Source:The Edge Markets
March 09, 2026 06:58 UTC
Navigating taxation in global investing
Upon death, however, estate tax could reduce the inherited amount to US$98,289 — compressing the realised CAGR from 12.6% to 7%. Therefore, the key is to choose a jurisdiction with a favourable US tax treaty and minimal secondary taxation. While dividends remain subject to 30% US withholding tax, Hong Kong imposes no estate tax. Buybacks reduce dividend tax impactWith US corporates increasingly favouring buybacks over dividends, the withholding tax gap between domiciles is narrower than many expect. The S&P 500’s 12.6% CAGR may look compelling on paper, but without careful structuring, estate tax, withholding tax and Malaysia’s evolving financial services industry regime can erode much of that advantage.
Source:The Edge Markets
March 09, 2026 06:02 UTC
KL20 Summit set to be held in June 2026 — Mohd Shahar
KUALA LUMPUR (March 9): The KL20 Summit is set to be organised in June 2026, said Deputy Economy Minister Datuk Mohd Shahar Abdullah. The KL20 summit is the government’s main initiative to promote Malaysia as a hub for the world’s top 20 startup ecosystems and to attract startups and international investors to invest in and operate companies in Malaysia. Mohd Shahar said the summit was not held in 2025 because the initiative was launched the year prior and needed time to assess the development of startups in line with the latest innovations and technologies. Mohd Shahar said the implementation of the KL20 Action Plan would continue to involve all relevant ministries and agencies, as well as joint monitoring by the Ministry of Economy and the Ministry of Science, Technology and Innovation. He said the plan aims to place Kuala Lumpur in 20th position in the global startup ecosystem by 2030.
Source:The Edge Markets
March 09, 2026 05:52 UTC
Thai PM seals new coalition after Feb election, local media say
(March 9): Thai Prime Minister Anutin Charnvirakul, whose party won last month’s election, has finalised his new coalition to form a government that will steer the nation’s US$577 billion economy after decades of economic stagnation. The 59-year-old leader, in power since September after the court-ordered ouster of a rival, has secured a 15-party alliance in the 500-seat House of Representatives after the Feb 8 election, according to several local media including Thai PBS, which did not cite sources. The bloc commands the support of about 290 freshly-elected lawmakers and a vote to confirm the prime minister is expected in the coming weeks. Its key ally, Pheu Thai Party, with 74 seats, will be allocated nine cabinet positions, including a deputy prime minister and minister of agriculture. That person will then call another meeting for lawmakers to formally pick a new prime minister, likely within the following week.
Source:The Edge Markets
March 09, 2026 05:32 UTC
Vietnam plans to scrap fuel import curbs to keep supply flowing
(March 9): Vietnam will remove import tariffs on fuel and make it easier for state giant PetroVietnam to buy and sell crude and oil products, as an expanding war in the Middle East heightens energy-security worries. Vietnam’s government said on Friday that domestic supply remains “basically secured” for now, but warned that if the conflict continues into April, the “market may face more difficulties”. Meanwhile, Nghi Son Refinery and Petrochemical LLC is also running steadily, ensuring supply for major distributors under contracts that run through the end of March. Retail fuel prices have risen sharply after Vietnam hiked gasoline prices twice in three days. Diesel prices are up almost 57% from late last month.
Source:The Edge Markets
March 09, 2026 05:02 UTC
Malaysia’s 2026 growth seen steady at 4%-4.5% despite global volatility — deputy economy minister
KUALA LUMPUR (March 9): Malaysia’s growth outlook for 2026 is expected to remain between 4% and 4.5% amid a challenging global economic environment, said Deputy Economy Minister Datuk Mohd Shahar Abdullah. He said the country’s economic growth will be supported by strong domestic consumption, continued investment in infrastructure and industrial projects, the expansion of the digital economy, and the recovery of tourism in conjunction with Visit Malaysia 2026. “Economic resilience becomes critical as we navigate these complex global headwinds to ensure our long-term stability. Earlier, KSI Strategic Institute for Asia Pacific chairman Tan Sri Majid Khan said geopolitical tensions, economic fragmentation, and supply chain realignments are shaping investment flows, trade corridors, and currency dynamics. We have deep trade links, a growing consumer base, and a maturing financial ecosystem.
Source:The Edge Markets
March 09, 2026 04:42 UTC
China's Tencent could invest in Paramount takeover of Warner Bros — Bloomberg
(March 9): Tencent Holdings Ltd intends to invest several hundred million dollars in Paramount Skydance Corp’s acquisition of Warner Bros Discovery Inc, according to people familiar with the situation. The Chinese company would be acting as a passive financial investor, the people said, asking not to be identified because the matter is private. Paramount’s offer for Warner Bros in December included a US$1 billion (RM3.97 billion) equity commitment from Tencent, according to a filing at the time, but that was withdrawn after Warner Bros raised concerns that the Chinese company’s presence could lead to national security challenges with US regulators. After Paramount raised and amended its offer, Warner Bros agreed to sell to the David Ellison-led company in a deal worth US$110 billion. Paramount’s acquisition of Warner Bros is funded by US$47 billion in equity backed by the Ellison family and RedBird Capital Partners.
Source:The Edge Markets
March 09, 2026 04:42 UTC
SPM results to be out on March 31
PETALING JAYA: The Sijil Pelajaran Malaysia (SPM) 2025 candidates can obtain their results from their schools from 10am on Tuesday (March 31). In a statement, the Education Ministry said private candidates can contact the respective state education departments where they registered to sit for the examination. “Both school and private candidates may also check their results via myresultspm.moe.gov.my to obtain their result slip. “Or through SMS by typing SPM (space) MyKad number (space) index number, and sending it to 15888 starting from 10am on March 31 to 6pm on April 6, 2026,” the ministry said on Monday (March 9). A total of 413,299 candidates sat for SPM 2025 at 3,350 exam centres nationwide.
Source:The Star
March 09, 2026 04:29 UTC
PM urges firm action against subsidised cooking oil abuse
PUTRAJAYA (March 9): Prime Minister Datuk Seri Anwar Ibrahim has called on authorities to strictly enforce regulations and take firm action against individuals attempting to smuggle or misuse subsidised packet cooking oil. He said the move is in line with the ban on the sale and purchase of subsidised cooking oil in 1kg packets by non-citizens, which came into force on March 1. “Beginning March 1, we enforced the ban on the sale and purchase of subsidised cooking oil in 1kg packets to non-citizens. Present were Minister Datuk Armizan Mohd Ali and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar. On Jan 29, Armizan said the ban on the sale of subsidised packet cooking oil to non-citizens was introduced under the Supply Control Regulations pursuant to Section 6 of the Supply Control Act 1961.
Source:The Edge Markets
March 09, 2026 03:31 UTC
STR Phase 2 payouts begin March 10, 5.2 million Malaysians to benefit
PUTRAJAYA: The Finance Ministry announces that payouts under Phase 2 of the Sumbangan Tunai Rahmah (STR) cash aid programme will begin on March 10 and be credited in stages to 5.2 million recipients. He said the number of recipients under Phase 2 has increased to 5.2 million compared with five million in Phase 1. The Finance Minister said the allocation includes 200,000 newly approved recipients, who will begin receiving payments from March 30. He said, overall, Phase 2 of the STR assistance will benefit 3.8 million households and 1.4 million senior citizens without spouses, with payments ranging from RM100 to RM600, depending on eligibility categories. For 2026, the total allocation for STR and SARA stands at RM15bil, the highest in the history of the Federal Government.
Source:The Star
March 09, 2026 03:29 UTC
Japan’s stagflation risk mounts with US$100 oil and sagging yen
(March 9): The surge in oil prices combined with a sagging yen raises the risk that Japan will slide into stagflation, prompting the government to ramp up fiscal spending while complicating the central bank’s mission to normalise its policy settings. In the current predicament, the surge in oil costs comes on top of weakness in the yen, with both revving up price pressures. “A spike in oil on top of a weak yen would weigh heavily on Japan’s economy. The risk of stagflation is rising without a doubt.”Kodama stressed that it all depends on how long oil prices stay elevated. Japan’s reliance on oil from the Middle East has hovered around 90%, hitting 95.1% in January, according to Japan’s Trade Ministry.
Source:The Edge Markets
March 09, 2026 02:46 UTC
M’sian nurses staying put for now
Saudi-based healthcare workers to remain, citing duty and trust in securityPETALING JAYA: For Malaysian nurses in Saudi Arabia, duty often comes first. The sense of duty is making me want to stay on,” said a Malaysian nurse based in Riyadh, who only wanted to be known as Devi. She admitted that it had crossed her mind to sign up with the Malaysian embassy in Riyadh for the evacuation exercise. Prior to the conflict, there were an estimated 1,782 Malaysian nurses in Saudi Arabia. “In this regard, the government has also decided to facilitate the return of Malaysians from Saudi Arabia on a voluntary basis,” it said.
Source:The Star
March 09, 2026 02:35 UTC
Muhyiddin arrives in court for Jana Wibawa graft trial
KUALA LUMPUR: Former prime minister Tan Sri Muhyiddin Yassin has arrived at the court complex here for the first day of his trial on graft charges, involving RM232.5mil in alleged bribes and RM200mil in proceeds from illegal activities linked to the Jana Wibawa project. He was greeted by Bersatu secretary-general Datuk Seri Azmin Ali, who then walked with him to the lobby. The first day trial is expected to begin with an opening statement by the prosecution, led by deputy public prosecutor Datuk Wan Shaharuddin Wan Ladin. Meanwhile, the defence team is led by Datuk Hisyam Teh Poh Teik. Also on the defence team are lawyers Datuk K. Kumaraendran and Datuk Amer Hamzah Arshad.
Source:The Star
March 09, 2026 02:29 UTC
A new life from the ashes
Mohd Radzi Mohd Rashid, 44, said his family living in two houses there are learning to live with the trauma while trying to rebuild their lives and move forward. That morning, his mother, Yatimah Mohd Nor, 70, had asked him to buy roti canai for breakfast, he recounted. In the chaos that followed, Mohd Radzi said he could only hold his mother tightly as they sought refuge inside the bathroom. Mohd Radzi said he suffered second-degree burns in the incident. Next door, his sister Rohaidah Mohd Rashid, 43, said the tragedy has left a scar on the family.
Source:The Star
March 09, 2026 02:21 UTC