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☆ The power sector is 'transforming,' Morgan Stanley says, naming global stocks set to rise 40%
▼ + stars: | 2024-10-25 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

The electricity industry is transforming, according to Morgan Stanley, and multiple power producers, grid operators and utilities are set to benefit. "Global power markets have surprised on multiple fronts, and investors are navigating a new normal in the power value chain," they added. Morgan Stanley's analysts named three overweight-rated global stocks in the electricity sector which they give more than 40% potential upside. RWE RWE : Morgan Stanley notes that the German power giant, which generates and trades electricity, is exposed to "tight electricity markets rewarding flexibility + value creation in renewables in Europe & US." AES Corp. AES Corp.: Morgan Stanley highlighted the company's "expanding renewable portfolio" as a theme to watch.

Persons: Morgan Stanley, Morgan, RWE, — CNBC's Michael Bloom Organizations: Frankfurt Stock Exchange, American Depository, AES Corp, U.S, Global X FTSE, Asia, Malaysian Locations: Asia, Europe, U.S, Nasional Tenaga Nasional, Malaysian, Bursa Malaysia, Malaysia

☆ Morgan Stanley picks global stocks to play a $50 billion AI boom. Analysts give two over 20% upside
▼ + stars: | 2024-06-21 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

The Wall Street bank estimates that another 1 gigawatts in potential power has been "underwritten as these data centers ramp up." "With $50 billion in committed AI/DC [data center] investments, we see upside to power gencos and grid operators in the region," Morgan Stanley's analysts wrote in a June 2 research note. Below are three stocks from Morgan Stanley's list that stand out for having significant upside potential, according to FactSet's consensus price targets. Analysts polled by FactSet give the stock a price target of 14.62 Malaysian ringgits, giving it around 6% potential upside. Keppel has an ADR in the U.S. and Singapore Telecommunications trades over the counter .

Persons: Morgan Stanley, Morgan, Morgan Stanley's, FactSet, Keppel, — CNBC's Michael Bloom Organizations: Morgan, Google, U.S, Global X FTSE, Asia, Malaysian, Singapore Telecommunications, Singapore Exchange Locations: Tenaga Nasional, Malaysia, Bursa Malaysia, Singapore, Keppel, U.S

☆ Malaysia is emerging as a data center powerhouse amid booming demand from AI
▼ + stars: | 2024-06-17 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

Over the past few years, the country has attracted billions of dollars in data center investments, including from tech giants like Google , Nvidia and Microsoft . Data center capacity is typically measured by the amount of electricity it consumes. Until then, Japan followed by Singapore currently lead the region in terms of live data center capacity. The index did not provide a detailed breakdown of data center capacity in China. Kenanga Investment Bank Research estimates that potential electricity demand from data centers in Malaysia will hit a total maximum demand of 5 GW by 2035.

Persons: James Murphy, APAC, Murphy, Byte's Murphy, it's Organizations: Luza, Getty, Malaysia, Google, Nvidia, Microsoft, DC, Authorities, Kenanga Investment Bank Research, Tenaga Nasional Berhad Locations: Southeast Asia, Johor Bahru, Singapore, Asia, Malaysia, Japan, India, China, Hong Kong, Malaysian

☆ Morgan Stanley picks global stocks to play a $100 billion AI boom, giving one 40% upside
▼ + stars: | 2024-05-20 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The analysts project that over $100 billion will be channeled toward such "potential investments propel[ling] AI and spur[ring] power demand growth in Asia." Here are three of Morgan Stanley's overweight-rated stock picks with more than 35% upside potential over the next 12 months. Morgan Stanley has a target price of 7.20 Singapore dollars ($5.35) on the Singapore Exchange -listed shares, giving them 36.9% potential upside. GDS Holdings Another Morgan Stanley favorite is Chinese data center developer and operator GDS Holdings . Morgan Stanley has a target price of $13.30 on the Nasdaq-listed stock, which translates to 40% potential upside.

Persons: Morgan Stanley, Morgan Stanley's, Tenaga Nasional Morgan Stanley, — CNBC's Michael Bloom Organizations: Tenaga Nasional, Tenaga, Microsoft, Amazon Web Services, U.S, Global X FTSE, Asia, Malaysian, Industries, Sembcorp, Morgan, Singapore, Sembcorp Industries, GDS, GDS Holdings, ASEAN, Nasdaq Locations: Asia, U.S, Malaysian, Tenaga Nasional, Bursa Malaysia, Malaysia, Singapore, Cambria, China, Japan, Hong Kong, Indonesia

☆ Prabowo Subianto: Once banned from the US, this fiery ex-army general is poised to lead Indonesia
▼ + stars: | 2024-02-19 | by ( Heather Chen | ) edition.cnn.com time to read: +13 min

“The most important objective of democracy is giving people the leaders and representatives they want,” Prabowo told reporters from his pool. Antara Foto/Galih Pradipta/ReutersMany are excited about a Prabowo presidency, like this hardcore supporter who has clearly taken his support to the extreme. Bagus Saragih/AFP/Getty ImagesMore recently, Prabowo has presented himself as a loyal Jokowi ally, serving as his defense minister for the past five years. Experts say Prabowo, known for his fiery speeches, military background and combative past will make for a very different kind of president. Indonesia has long been one of Australia’s most important bilateral relationships and experts say that will not change with Prabowo in charge.

Persons: Prabowo Subianto, ” Prabowo, Prabowo, Indonesia’s, Partai Probawo, Gibran, “ Prabowo, ”, Zachary Abuza, Abuza, “, Antara, Pradipta, Saragih, Widodo, Barack Obama, Tom Pepinsky, Rodrigo Duterte, Javier Milei, Trump, ” “, Dita Alangkara, Jokowi, Jacqui Baker, Laura Schwartz, Schwartz, Gibran Rakabuming Raka, Adek Berry, Chong Ja Ian, Suharto, –, Dan Slater, Prabowo “, ” Slater, Chaideer Mahyuddin, Chong, Juni Kriswanto, Usman Hamid, Papuans, Veronica Koman, ” Koman Organizations: CNN, National War College, Getty, Southeast Asia, Cornell University, “, Center, Research, Senior Southeast, National University of Singapore, Center for Emerging Democracies, University of Michigan, Muda Airforce, Amnesty International Locations: Jakarta, United States, South Jakarta, Washington ,, AFP, Indonesia, Singapore, Ukraine, Russia, China, Australia, Asian, Perth, Asia, Beijing, Washington, “ Washington, Sultan, Muda, Aceh, West Papua, South China, Tentara Nasional Indonesia, Southeast Asia, “, Papua, Amnesty International Indonesia, restive, Indonesian, East Timor

☆ Malaysia opposition leader to step down as party president
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

Malaysian opposition leader and former premier Muhyiddin Yassin speaks during an interview at Kuala Lumpur, Malaysia July 27, 2023. REUTERS/Hasnoor Hussain/File photo Acquire Licensing RightsKUALA LUMPUR, Nov 24 (Reuters) - Malaysia's opposition leader Muhyiddin Yassin said on Friday he would step down as president of his party, which leads the Malay-majority bloc Perikatan Nasional. Muhyiddin, a former prime minister, said at his Bersatu party's annual meeting he will not defend his position as party president during internal leadership elections next year. "The time for me to pass on the party leadership to a new team of leaders has arrived," he said in a speech. Bersatu is part of the Perikatan Nasional opposition bloc, which is backed by a conservative Islamist party and made inroads among the country's majority ethnic-Malay Muslims during regional polls in August and last year's general elections.

Persons: Muhyiddin Yassin, Hasnoor Hussain, Danial Azhar, Kanupriya Kapoor Organizations: REUTERS, Perikatan Nasional, Thomson Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR, Malay, Perikatan Nasional

☆ Malaysia's Petronas launches first commercial 5G private network - Deputy PM
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: 1 min

A logo of Petronas is seen at their office in Kuala Lumpur, Malaysia, April 27, 2022. REUTERS/Hasnoor Hussain/File Photo Acquire Licensing RightsKUALA LUMPUR, Oct 6 (Reuters) - Malaysia state energy firm Petroliam Nasional Berhad (Petronas) on Friday launched the country's first commercial private 5G network, a deputy prime minister said. "The deployment of the PETRONAS 5G Private Network sets the stage for a dynamic partnership between the government, private sector, and academia," Fadillah Yusof said. Reporting by Rozanna Latiff; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Hasnoor Hussain, Fadillah Yusof, Rozanna Latiff, Martin Petty Organizations: Petronas, REUTERS, Petroliam Nasional Berhad, Friday, PETRONAS 5G Private Network, Thomson Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR, Petroliam

☆ Malaysia's switch to dual 5G network can allow participation of China's Huawei - PM
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Sept 27 (Reuters) - Malaysia Prime Minister Anwar Ibrahim said on Wednesday a switch to having a dual 5G network would allow for more effective participation by China's Huawei, providing his country with a balance of both Western and Eastern technology. Anwar on Wednesday acknowledged concerns from some countries over the "security and capacity" of technology stemming from China, but said the decision to allow a second 5G network was made so that Malaysia could benefit from different technologies. "After extensive discussion... we made the decision to allow for a dual network, and thus the decision for more effective participation by Huawei." State-run DNB partnered with Swedish telecoms giant Ericsson to roll out Malaysia's 5G network. It is unclear how Malaysia's plan for a second network would affect DNB's agreement with Ericsson or other mobile operators.

Persons: Anwar Ibrahim, Anwar, Rozanna Latiff, Martin Petty Organizations: Malaysia, Huawei, European Union, U.S, Financial Times, Digital Nasional Berhad, Ericsson Locations: KUALA LUMPUR, Malaysia, China, Kuala Lumpur

☆ Malaysia's Permodalan Nasional weighs $2.15 bln automakers merger in EV push - sources
▼ + stars: | 2023-08-24 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

PNB holds 60.6% of industrial group UMW Holdings (UMWS.KL), which in turn owns 38% of Perodua, the country's biggest automaker by market share. PNB, Sime Darby, UMW and Perodua declined to comment. Elsewhere in Southeast Asia, Vietnam has EV maker VinFast , while Indonesia has nickel producers including Merdeka Battery (MBMA.JK) and Trimegah Bangun (NCKL.JK) supplying the key battery metal in the global EV supply chain. Sime Darby Motor has been pushing for the adoption of EVs in Malaysia. Perodua is also eyeing breaking into the EV market and embarked last year on a study to build its first hybrid vehicle.

Persons: Otomobil, Sime Darby, PNB, Trimegah, Yantoultra Ngui, Tom Hogue, Sonali Paul Organizations: Malaysia EV, EV, Sime Darby, Permodalan, Darby Motors, State, Sime, Sime Darby Motors, UMW Holdings, country's, Daihatsu, MBM Resources, Mitsui & Co, VinFast, Merdeka, Sime Darby Motor, Thomson Locations: Malaysia, Malaysia SINGAPORE, Permodalan Nasional, Malaysian, Southeast Asia, Perodua's, Perodua, UMW, Vietnam, Indonesia, The Selangor, Peninsular Malaysia

☆ Malaysia PM vows to recover Goldman Sachs 1MDB settlement, warns of possible lawsuits
▼ + stars: | 2023-08-21 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Nurphoto | Nurphoto | Getty ImagesMalaysia's Prime Minister Anwar Ibrahim has vowed to recover the money Malaysians are owed from the 1MDB money laundering scandal, and says he hasn't ruled out the possibility of a lawsuit against Goldman Sachs. Anwar said Malaysian agencies were still in talks with Goldman Sachs, though ongoing discussions are "a bit complex." Asked to comment on Anwar's interview, Goldman Sachs referred CNBC to its second quarter earnings statement. It remains to be seen what would come out of the standoff between Malaysia and Goldman Sachs. "No one can deny the fact that Goldman Sachs was used, and partly used the authorities," Anwar said in his interview.

Persons: Malaysia's, Anwar Ibrahim, Malaysia's King, hasn't, Goldman Sachs, Anwar, CNBC's Martin Soong, Goldman, Muhyiddin Yassin, I've, —, Mahathir Mohamad, Anwar Malaysia's, Anwar's Pakatan, Najib Razak, Muhyiddin, Islam that's Organizations: Nurphoto, Getty, Malaysia's, 1Malaysia, Malaysia, CNBC, of, Malaysian, Barisan Nasional, Barisan, Perikatan Nasional coalition, Islamic, Malay Locations: Kuala Lumpur, Putrajaya, Malaysia, Malaysian, Anwar Ibrahim Malaysia, U.S, of Malaysia, United States, Malay, Federal

☆ Malaysia court throws out abuse of power charges against former PM Muhyiddin
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

Malaysian opposition leader and former premier Muhyiddin Yassin speaks during an interview at Kuala Lumpur, Malaysia July 27, 2023. REUTERS/Hasnoor Hussain/File PhotoKUALA LUMPUR, Aug 15 (Reuters) - A Malaysian court on Tuesday threw out charges of abuse of power against opposition leader and former Prime Minister Muhyiddin Yassin, describing them as "vague, flawed and unfounded", state news agency Bernama reported. Muhyiddin, who led Malaysia for 17 months between 2020 and 2021, was charged in March with four counts of abuse of power. A Kuala Lumpur high court ruled those charges failed to specify details of the offences allegedly committed, Bernama reported. His lawyer, Hisyam Teh, said he was confident that the other charges would not hold ground based on Tuesday's court decision.

Persons: Muhyiddin Yassin, Hasnoor Hussain, Bernama, Muhyiddin, Muhammad Jamil Hussin, Hisyam Teh, Anwar Ibrahim, Anwar, Martin Petty Organizations: REUTERS, Malaysian, Nasional, Thomson Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR

KUALA LUMPUR, Aug 12 (Reuters) - Malaysians in six states headed to the polls on Saturday in regional elections seen as a major test of support for Prime Minister Anwar Ibrahim's nine-month old administration. Perikatan, led by former prime minister Muhyiddin Yassin, made significant inroads in the Malay heartlands in the last national election in November 2022. [1/3]A woman casts her ballot paper during a state election at Selayang, Malaysia August 12, 2023. Critics, however, have raised concerns over increasing government scrutiny on online content and growing intolerance against the country's LGBTQ community. Anwar has said LGBTQ rights will not be recognised by his administration.

Persons: Anwar Ibrahim's, Pakatan Harapan, Muhyiddin Yassin, Anwar, Hasnoor Hussain, Zainal, Anwar's, Rozanna Latiff, Raju Gopalakrishnan Organizations: Perikatan, United Malays National Organisation, REUTERS, Merdeka Centre, Ilham, Reuters, Thomson Locations: KUALA LUMPUR, Selangor, Penang, Negeri Sembilan, Kelantan, Terengganu, Kedah, Perikatan Nasional, Malay, Selayang, Malaysia

☆ Malaysia reverses plan to take legal action against Meta over harmful content
▼ + stars: | 2023-07-28 | by ( Rozanna Latiff | ) www.reuters.com time to read: +3 min

KUALA LUMPUR, July 28 (Reuters) - Malaysia may not go through with a plan to take legal action against Facebook parent Meta Platforms (META.O) following "positive" engagement with the firm on tackling harmful content on the social media platform, communications minister Fahmi Fadzil said in an interview on Friday. "I don't think MCMC needs at this point in time to initiate any legal action. I think this level of cooperation is very positive," he said, adding that the government was considering measures such as fines against social media platforms if they failed to tackle harmful content. Facebook is Malaysia's biggest social media platform, with an estimated 60% of the country's 33 million people having a registered account. The take-downs, he said, were likely to have been made in response to complaints made by ordinary users for violating social media guidelines.

Persons: Fahmi Fadzil, Fahmi, Meta, Anwar Ibrahim's, Rozanna Latiff, Angus MacSwan Organizations: Facebook, Malaysian Communications and Multimedia Commission, Meta, Malaysian, Digital Nasional Berhad, Thomson Locations: KUALA LUMPUR, Malaysia, Malay

☆ Malaysia telecoms firms complete talks to take up stakes in 5G agency
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, July 21 (Reuters) - Malaysia said on Friday telecommunications firms CelcomDigi, Maxis, Telekom Malaysia, U Mobile and YTL Communications will take up stakes in state 5G agency Digital Nasional Berhad (DNB), following an agreement reached between the firms and the government on equity participation and 5G access. The announcement comes as mobile operators and the government look set to conclude protracted negotiations over Malaysia's 5G rollout plans. Malaysia had in 2021 announced that state-owned DNB would own the full 5G spectrum, with carriers using the infrastructure to provide mobile services. Mobile operators agreed in October last year to take up 70% of DNB's stake to resolve the impasse. Other carriers had signed the deal last year, paving the way for 5G services to be rolled out to customers.

Persons: Anwar Ibrahim's, Rozanna Latiff, Kanupriya Kapoor Organizations: CelcomDigi, Maxis, Telekom Malaysia, U Mobile, YTL Communications, Digital Nasional Berhad, Malaysia's, Mobile, Maxis Berhad, Thomson Locations: KUALA LUMPUR, Malaysia

☆ Canadian port workers back on strike after voting down government-brokered deal, returning supply chain to 'turmoil'
▼ + stars: | 2023-07-19 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

Photographer: Ben Nelms/Bloomberg via Getty ImagesThe supply chain is in turmoil again with International Longshore & Warehouse Union West Coast Canada members walking off the job after a key union caucus voted down a tentative deal that had temporarily ended the West Coast ports strike last week. Rob Ashton, president of the ILWU Canada, said in a statement that it did not believe the recommendations had the ability to protect union jobs. His group estimated that the first strike would cause an average 6-8 weeks of supply chain disruption before conditions would return to normal. The National Association of Chemical Distributors told CNBC some chemical companies are expected supply chain congestion until October as a result of the strike. Critical chemicals that go into food, cleaning, water purification, and personal care, among many others, flow through the West Coast ports of Canada and down to the United States.

Persons: Prince Rupert, of Prince Rupert in Prince, Trudeau, He's, Kinder Morgan, Ben Nelms, Rob Ashton, Seamus O'Reagan, " O'Regan, Steve Lamar, Lamar, Vancouver and Prince Rupert, Destine Ozuygur, Ozuygur, Eric Byer, Byer, HLS, Captain Adil Ashiq, Ashiq, Paul Brashier, BCMEA Organizations: Prince Rupert Grain Ltd, Canadian, Enbridge Inc, Kinder, Kinder Morgan Inc, Bloomberg, Getty, Warehouse Union, Coast Canada, British Columbia Maritime Employee Association, Canada's Labor, Canada's Transport, Canada Industrial Relations Board, Logistics, CNBC, American Apparel and Footwear Association, Railway Association of Canada, U.S, Port, HLS Shipping, Association of American Railroads, National Association of Chemical Distributors, Canadian National Railroad, Government, ., U.S ., ITS Logistics Locations: of, of Prince Rupert in Prince Rupert, British Columbia, Canada, Petroliam Nasional, West, British, Vancouver, U.S, Port of Vancouver, eeSea, United States, . West Coast, East Coast, China, U.S . West Coast, U.S . East Coast, North America, East, Asia

☆ Malaysia's Maxis agrees to use state-run 5G network
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, July 15 (Reuters) - Malaysian mobile operator Maxis Bhd (MXSC.KL) said it will sign an agreement to access the country's state-run 5G network, the last major carrier to get on board a contentious rollout. "(As of today), there is no alternative wholesale network providers undertaking the deployment of 5G infrastructure and network," Maxis said. The company expects to incur operating expenses of about 360 million ringgit ($79.59 million) per year for the access agreement. Signing of the access agreement with DNB is a crucial step to deploy 5G. DNB has defended itself from criticism over pricing, saying it will charge operators less to access its 5G network than their costs for 4G.

Persons: Michael Perry Organizations: Maxis, Nasional Berhad, 4G, Thomson Locations: KUALA LUMPUR, Malaysian, Malaysia

☆ Malaysia's Khazanah Nasional Berhad explains its strategy for volatility
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMalaysia's sovereign wealth fund on rebalancing portfolio for greater resilience in volatile marketsManaging Director Amirul Feisal Wan Zahir said there are opportunities even in the current volatile environment.

Persons: Amirul Feisal Wan Zahir

☆ Malaysia's sovereign wealth fund seeks greater portfolio resilience in volatile markets
▼ + stars: | 2023-06-27 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Malaysia's sovereign wealth fund Khazanah Nasional is rebalancing its investment portfolio for greater resilience against market volatility, according to its managing director. Khazanah's net asset value declined 5% to 81 billion ringgit ($17.4 billion) in 2022 from a year ago, hit by global market downtrends, the fund said in March. The Kuala Lumpur-based fund invests more than half of its portfolio in public markets. "Looking at the volatility in the market, we are still in the process of rebalancing our portfolio," he added. Khazanah posted a 1.6 billion ringgit ($343 million) net profit in 2022 — more than doubling its net profit from the year before and a fourth-straight annual net profit after an unprecedented plunge in 2018.

Persons: Amirul Feisal Wan Zahir, Khazanah Organizations: CNBC, Energy Asia Locations: Khazanah Nasional, Kuala Lumpur

☆ Indonesia's Pertamina, Malaysia's Petronas aim to take over Shell's Masela stake
▼ + stars: | 2023-06-26 | by ( Emily Chow | ) www.reuters.com time to read: 1 min

KUALA LUMPUR, June 26 (Reuters) - Indonesia's state energy company Pertamina and Malaysia's Petroliam Nasional (Petronas) plan to jointly take over Shell's participating interest in the Masela gas project, Indonesia's energy minister said on Monday. Shell currently has 35% of the shares in the project and authorities are keen for the companies to complete the deal to move the project forward after years of delay. "They are both doing the negotiation," the minister, Arifin Tasrif, told Reuters, referring to Pertamina and Petronas. "They have to finalise what kind of joint scheme they are preparing," he said on the sidelines of an Energy Asia conference. Reporting by Emily Chow, Writing by Fransiska Nangoy Editing by Shri Navaratnam, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Shell, Arifin Tasrif, Emily Chow, Fransiska, Shri Navaratnam, Robert Birsel Organizations: Petronas, Reuters, Energy, Thomson Locations: KUALA LUMPUR, Petroliam Nasional, Energy Asia

Malaysia has now decided to allow a second entity after DNB's coverage reaches 80% of populated areas, Communications Minister Fahmi Fadzil said in a statement. The government's announcement confirmed a report by Reuters last month on a plan to introduce a second 5G network from January 2024. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. It has said a single network would reduce costs, improve efficiency and accelerate the building of infrastructure. It was not clear how the proposal for a second 5G network would affect DNB's existing agreements with its development partner, Swedish telecoms giant Ericsson (ERICb.ST), and other mobile operators.

KUALA LUMPUR/SINGAPORE, April 16 (Reuters) - Malaysia plans to introduce a second 5G network from next year, four sources told Reuters, in the latest policy shake-up aimed at dismantling monopolies and promoting competition by Prime Minister Anwar Ibrahim's six-month-old administration. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. Fahmi also said last week 5G network coverage had reached 55% in populated areas. It was not clear how the proposal for a second 5G network would affect DNB's existing agreements with its development partner Swedish telecoms giant Ericsson (ERICb.ST), and other mobile operators. U Mobile later joined other telco firms in signing up to access DNB's 5G network.

The move comes as global infrastructure funds are pouring huge sums of money to acquire capital-intensive telecom infrastructure assets in Southeast Asia, seeing strong growth opportunities. The sources said discussions are taking place for a minority stake to be sold in the decade-old Edotco, which is 63% owned by Axiata. However, three of the sources said there was a possibility that Axiata could even consider giving majority control in order to secure a deal. The sources said the bulk of the proceeds from the share sales will likely fund Edotco's business expansion. While broader dealmaking activity has fallen sharply over the past year due to weak equity markets and rising interest rates, telecom tower assets have been a bright spot.

☆ Malaysia's former prime minister Muhyiddin to face multiple graft charges
▼ + stars: | 2023-03-10 | by ( ) www.cnbc.com time to read: +1 min

Former prime minister of Malaysia and Perikatan Nasional chairman Muhyiddin Yassin (center) arrives at the Malaysian Anti-Corruption Commission headquarters to give a statement on his graft charges on March 9, 2023. Malaysia's anti-corruption agency on Thursday said it would charge former Prime Minister Muhyiddin Yassin with multiple counts of corruption, a move that he called political persecution. Speaking to reporters, Muhyiddin said he would face seven charges on Friday. "I stress that I am not guilty and I will face all charges against me in court ... This action is political persecution because they fear the strength of Perikatan Nasional," Muhyiddin said, referring to his opposition alliance.

☆ Petronas units in Luxembourg seized again in $15 bln arbitration dispute
▼ + stars: | 2023-02-16 | by ( Rozanna Latiff | ) www.reuters.com time to read: +2 min

It obtained a stay on the award in France but the ruling remains enforceable overseas under a United Nations treaty on arbitration. The Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus units were first seized in July 2022, but the Malaysian government said last month that the order had been set aside by a Luxembourg district court. On Tuesday, Luxembourg court bailiffs issued a second seizure order on the units and related bank accounts, court documents shared by the heirs' lawyer, Paul Cohen, showed. The Luxembourg court could not be immediately reached for comment. The heirs say they were not involved in the incursion and sought arbitration over the suspension of payments.

☆ Malaysia PM signs cooperation pact with smaller parties ahead of confidence vote
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Dec 16 (Reuters) - Malaysian political parties supporting Prime Minister Anwar Ibrahim on Friday signed a cooperation pact promising to ensure stability, ahead of a confidence vote on the premier next week. Anwar - who has spent more than two decades as an opposition figure - became prime minister last month, forming a government with rival political blocs after an election that produced a hung parliament. Anwar is Malaysia's fourth prime minister since 2020, after two previous administrations collapsed due to political turmoil. "We agreed on the broad parameters and broad policies including to ensure the government is stable," he said after a ceremony where political party chiefs signed the pact. Barisan had ruled Malaysia for more than six decades before being voted out in a 2018 election amid widespread corruption allegations.

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