Malaysians will go to the polls on May 5 in what is expected to be a close fight as Anwar Ibrahim’s opposition seeks to end 55 years of unbroken rule by Prime Minister Najib Razak’s National Front coalition.
Malaysian construction stocks are trailing regional peers by the most since 2007, a buy signal to CLSA Ltd. and Manulife Asset Management as the government’s $16 billion building plan sends profit estimates to a record.
Astro Malaysia Holdings Bhd., the country’s largest pay-TV broadcaster, and shareholders including billionaire T. Ananda Krishnan raised 4.6 billion ringgit ($1.5 billion) in an initial public offering.
Malayan Banking Bhd. , Malaysia’s biggest lender by assets, offered to buy Singaporean brokerage Kim Eng Holdings Ltd. in a deal valued at S$1.79 billion ($1.4 billion), accelerating its expansion in Southeast Asia.
SP Setia Bhd., Malaysia’s biggest listed developer by sales, said shareholder Permodalan Nasional Bhd. made an offer to take over the company in the country’s largest property acquisition in at least two decades.
RHB Capital Bhd. surged to a 14-year high after CIMB Group Holdings Bhd. and Malayan Banking Bhd. won central bank approval to begin separate merger talks, triggering a battle to potentially create Southeast Asia’s biggest bank.
CIMB Group Holdings Bhd. and Malayan Banking Bhd. won separate Malaysian central bank approval to begin competing merger talks with RHB Capital Bhd. , triggering a takeover battle that may create Southeast Asia’s biggest bank.
Malaysia aims to almost halve its budget deficit in the next five years as the government cuts subsidies, widens the tax base and reduces expenses under a plan to make the economy more competitive. The ringgit rose.