Parents seek action after son dies following 10m manhole incident
The parents of an outstanding Form Two student who died after being flung into a 10m-deep manhole are seeking responsibility from a construction contractor. SOCMED PICTAMPIN: The parents of an outstanding Form Two student who died after being flung into a 10m-deep manhole are seeking responsibility from a construction contractor. The siblings were heading to a friend's house in Kuala Ina after having dinner in Tampin, according to China Press. Lye was an exceptional student at SMJK Pulau Sebang, serving as a prefect and member of the Chinese orchestra. The school principal and deputy principal also attended to pay their respects.
Source:New Strait Times
February 04, 2026 07:26 UTC
Ford in talks with Geely to share European production capacity — reports
Sharing the Valencia facility could be a win for both parties, allowing Geely to avoid paying European tariffs on imports of made-in-China EVs and boosting output at a plant Ford has underutilised. Since 2024, it’s only made the Ford Kuga sport utility vehicle, and production likely dropped below 100,000 units last year, according to French consultancy Inovev. A representative of Ford said it had “discussions with lots of companies all the time on a variety of topics. In addition to Geely, Ford has held discussions with Chinese automakers including BYD Co and Xiaomi Corp about collaboration, the Financial Times reported recently. The talks between Ford and Geely focused on manufacturing and didn’t include the potential for shared technologies such as automated driving, according to the person familiar with the conversations.
Source:The Edge Markets
February 04, 2026 07:22 UTC
Australia warns US$3.2 tril pension fund industry to lift systems investment
SYDNEY (Feb 4): Australia's corporate regulator has warned the nation's A$4.5 trillion (US$3.16 trillion or RM12.4 trillion) pension fund industry it needs to invest more in systems and technology to better prepare for the future and avoid becoming troubled like stock market operator ASX. Australian Securities and Investments Commission (Asic) commissioner Simone Constant said the pension fund industry, known locally as superannuation, was on track to be worth A$6 trillion by 2030. At that size, she said, it would be larger than Australia's banking system and is an increasingly important part of the country's financial system. "Our recent thematic review of platform trustees identified examples of weak practices in the investment governance of investment options offered on platforms, including investment option onboarding and monitoring." Australia's pension fund industry has previously been put on notice to speed up preparations for an estimated 2.5 million people due to retire in the next decade.
Source:The Edge Markets
February 04, 2026 07:17 UTC
Tanker rates spike as Iran woes run up against tight supply
(Feb 4): Tankers moving crude from the Middle East to China charged the highest fees in more than two months this week, after tensions over Iran combined with tight vessel supply to drive up prices. Rates surged 62% on Friday, as fears of possible US-led military action against the Islamic Republic intensified. Last week’s speculation about escalating tensions between Iran and the US prompted a rush from charterers to secure vessels ahead of any potential supply disruption, shipbrokers said. On Tuesday, US President Donald Trump said Washington and Tehran are going ahead with talks after an American warplane shot down a drone in the Arabian Sea. Earlier, the US had said Iranian vessels and a drone had approached a US-flagged tanker transiting the Strait of Hormuz.
Source:The Edge Markets
February 04, 2026 07:06 UTC
New landscape for local EV industry
Some believe the import restriction, to some extent, helps drive investment in Malaysia’s EV manufacturing sector, which in turn supports ecosystem development. In view of the latest restriction, Bermaz will have to consider shelving its plan to bring in Mazda EV models to Malaysia. “The import restriction will ensure that no more cheap EVs flood the local market. “The government therefore needs to continue to protect the local automobile industry as a whole because of the social economic impacts,” says a senior executive. However, the fierce competition is unlikely to abate as the new entrants are now assembling CKD EVs here.
Source:The Edge Markets
February 04, 2026 07:02 UTC
Selangor police cripple online scam syndicate
SHAH ALAM (Feb 4): Selangor police have crippled an online scam syndicate offering part-time jobs and investments to victims overseas, following separate raids on three premises in Kajang, Seri Kembangan and Puchong last month. Selangor police chief Datuk Shazeli Kahar said the integrated operation conducted by the Selangor Commercial Crime Investigation Department (CCID), together with several district police headquarters, led to the arrest of 20 individuals, including a Malaysian, aged between 25 and 36. He added that police also seized 42 mobile phones, 20 computers, four mobile WiFi units, two laptops, two modems and a router worth RM85,000. "The syndicate, which has been operating since last December, targeted Australians and Italians with online part-time job offers,” he said. In the third raid, conducted in Bandar Puteri, Puchong, on Jan 28, five foreigners — four men and a woman — aged between 25 and 36 were detained.
Source:The Edge Markets
February 04, 2026 06:56 UTC
Saudi Arabia to invest US$2 bil in Turkish solar projects
(Feb 4): Saudi Arabia will invest around US$2 billion (RM7.85 billion) to build solar power plants in Turkey in the first stage of a broader deal between the countries on renewable-energy production. Saudi companies will initially develop solar projects capable of generating 2,000MW in Turkey’s Sivas and Karaman provinces, followed by 3,000MW of additional wind and solar capacity to be finalised later, according to an intergovernmental agreement signed in Riyadh on Tuesday (Feb 3). The deal includes a 50% localisation rate, which “will make a significant contribution to the electrical equipment and service sectors” in Turkey, the country’s Energy Minister Alparslan Bayraktar wrote on X. Bayraktar added that the projects will use external financing, including from international institutions. Bloomberg reported in June that Saudi utility ACWA Power Co will build the solar plants. Turkey will buy the electricity for 25 years at 2.3415 euro cents per kilowatt-hour from the Sivas project and 1.995 euro cents/KWh from Karaman — a record-low price for renewable power in Turkey, Bayraktar said.
Source:The Edge Markets
February 04, 2026 06:51 UTC
UBS quarterly profit beats expectations, plans more buybacks
ZURICH (Feb 4): Swiss bank UBS posted on Wednesday a net profit of US$1.2 billion (RM4.71 billion) for the fourth quarter, up 56% year-on-year and ahead of a company-provided consensus forecast of US$919 million. The amount of additional buybacks was subject to further clarity around the future regulatory regime for banking in Switzerland, it said. Swiss authorities have proposed stricter capital rules for the country's remaining big bank since UBS bought ailing Credit Suisse in 2023 in a state-engineered emergency takeover. UBS added US$8.5 billion in net new assets to its global wealth management division during the quarter. Its asset management division brought in US$8 billion in total net new money over the same period.
Source:The Edge Markets
February 04, 2026 06:11 UTC
New framework to ensure local content usage benefit domestic economy — deputy Miti minister
KUALA LUMPUR (Feb 4): The Investment, Trade and Industry Ministry (Miti) will focus on outcome-based measurement and monitoring under the New Incentive Framework to ensure that investment projects using local content translate into real impact on the domestic economy. According to him, measuring the actual level of local content usage is currently done via a specific framework that combines quantitative and qualitative indicators, including the percentage of local sourcing for raw materials, components, machinery, and services. “Monitoring is carried out at two main stages, during the pre-approval and post-approval phases of investment, with investment projects continuously monitored to assess the progress of the commitments,” he added. For the post-approval stage, the government conducts continuous engagement sessions with investors and local vendors to ensure that the implementation of local content usage genuinely takes place throughout the investment period, he said. Overall, he said the more structured and meticulous new policy approach aims to ensure that local companies and industries benefit from investments.
Source:The Edge Markets
February 04, 2026 06:11 UTC
Malaysia-Indonesia border determination not based on compensation, profit-and-loss principles — Anwar
KUALA LUMPUR (Feb 4): Prime Minister Datuk Seri Anwar Ibrahim said the determination of the Malaysia-Indonesia land border involving Sabah and Kalimantan is not based on compensation, reciprocity or profit-and-loss considerations, as claimed by some parties. Anwar said the core principle in the agreements stipulates that territorial determination is based on the location of the estuaries of Sungai Sinapad and Sungai Sesai along latitude four degrees 20 minutes (4°20’) north. Areas north of latitude 4°20’ north fall under British North Borneo (Sabah), while areas south of the same latitude were under Dutch rule (Indonesia), he said. However, Anwar said joint field measurements later found that the actual estuary of Sungai Sinapad lies north of latitude 4°20’ north, contrary to what was indicated in the original map. “Based on these findings, Malaysia’s position is that all river basins that flow north of latitude 4°20’ north belong to Malaysia,” he said.
Source:The Edge Markets
February 04, 2026 06:06 UTC
AI fears drag Asia software stocks lower after US tech rout
(Feb 4): Asian software stocks slid, extending a global selloff as investors fret that rapid advances in artificial intelligence could upend traditional business models. Elsewhere in the region, losses were concentrated in software as Asia’s broader tech sector remains dominated by hardware makers — particularly chipmakers — that have been key beneficiaries of the AI investment boom. Anthropic PBC’s launch of a new tool to help automate some legal work sank a swath of software makers and financial service providers on Tuesday in the US, where AI displacement fears have weighed on the broader market. Elsewhere, losses were concentrated in smaller software names, including Japan’s Rakus Co, which tumbled 14% amid disruption fears. “Pure software in Hong Kong and China remains a relatively small component of market indices compared to the US and Europe,” said Allspring’s Tan.
Source:The Edge Markets
February 04, 2026 05:07 UTC
Top China official vows to boost consumption to overhaul economy
(Feb 4): China will press ahead with building a unified market to unleash domestic consumption as countries around Asia face a “pivotal juncture” in the transformation of the global economy, a top economic official said. “China is shifting towards new growth drivers in order to pursue high-quality development,” Liao said. “We are pressing ahead with building a unified market to further unleash domestic demand and consumption potential. China’s economic growth matched the government’s goal of 5% last year, with exports contributing a third of the expansion while domestic demand stayed subdued. Over a dozen Chinese provinces have reduced their economic growth targets for 2026, after Chinese President Xi Jinping indicated greater tolerance for a slower expansion and warned against wasteful investment.
Source:The Edge Markets
February 04, 2026 04:51 UTC
Australia weighs minerals price floor to lure overseas funds
(Feb 4): Australia is weighing a price floor for critical minerals, including rare earths, to help its producers counter China’s dominance and draw foreign investment to build new mines and processing projects. China has a near-monopoly over processed critical minerals and has previously used supply as leverage during trade disputes. Like the US, Australia is planning to build its own critical minerals stockpiles, albeit smaller at A$1.2 billion (US$843 million or RM3.31 billion). Shares of Sydney-listed critical minerals companies rallied on Wednesday. Lynas Rare Earths Ltd soared as much as 6.9%, Iluka Resources Ltd advanced 5.2%, Arafura Rare Earths Ltd climbed 6.3% and Sunrise Energy Metals Ltd jumped 10% during morning trade.
Source:The Edge Markets
February 04, 2026 04:31 UTC
Indonesian bond demand hits one-year low after MSCI kerfuffle
(Feb 4): Demand for Indonesian government bonds fell to the lowest in more than a year after an equity meltdown spurred by index provider MSCI Inc’s concerns about the country’s investability. MSCI’s warning about transparency in equity holdings last week caused stocks to suffer their steepest drop since the Asian Financial Crisis. Foreign investors sold a net US$202 million (RM794.36 million) of Indonesian bonds on Wednesday and Thursday, before officials rushed to announce market-reform plans, helping to calm the market and bring back bond inflows. Indonesian bonds had already been suffering from rising concerns about domestic fiscal discipline, a weakening rupiah and the central bank’s independence after the appointment of Indonesian President Prabowo Subianto’s nephew as a deputy governor. Yields on 10-year debt have risen around 25 basis points so far this year, to about 6.31%.
Source:The Edge Markets
February 04, 2026 03:21 UTC
Bitcoin-led crypto rout erases nearly half a trillion in a week
(Feb 4): Almost half a trillion dollars has been wiped off cryptocurrencies in less than a week as a selloff led by Bitcoin accelerated. Total crypto market value has slumped by US$467.6 billion (RM1.84 trillion) since Jan 29, according to CoinGecko data. The declines follow a volatile week across global markets that also saw sharp swings in gold and silver. Bitcoin and US equities fell as rising tensions between the US and Iran prompted investors to seek safe assets. Investor Michael Burry this week warned that Bitcoin has been exposed as a purely speculative asset, failing to establish itself as a hedge similar to precious metals.
Source:The Edge Markets
February 04, 2026 03:06 UTC