Tenaga Nasional Bhd., Malaysia’s national power distributor, surged the most in more than two years and led the country’s benchmark equity index to close at an all-time high after the government let it raise power prices.
Malaysia will allow national power distributor Tenaga Nasional Bhd. to raise electricity charges for the first time in more than two years, adding to business and living costs as the government cuts state subsidies.
Mukhriz Mahathir, the 48-year-old son of Malaysia’s longest-serving prime minister, will tomorrow contest the vice presidency of the nation’s biggest political party, staking his claim as a potential future national leader.
RHB Investment Bank Bhd., a unit of Malaysia’s fourth-largest lender, said it’s in talks with potential partners in the Philippines to further its push into Southeast Asia’s fast-growing economies and boost revenue.
Prime Minister Najib Razak said he believes that Malaysia can avoid a cut to its credit rating while the government will try its “level best” to prevent a breach of its self-imposed sovereign debt ceiling.
Malaysia Airports Holdings Bhd. said low-cost carriers are luring more flyers and driving up the number of passengers at its Kuala Lumpur hub as it prepares to expand capacity by adding a new terminal.
Mukhriz Mahathir, the 48-year-old son of Malaysia’s longest-serving prime minister, lost his bid to become a vice president of the country’s biggest political party, setting back plans to establish himself as a future national leader.