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Malaysia and Singapore to Boost Cybercrime Cooperation in Cross-Border Crime Agreement

Key Takeaway: Cybercrime will be included in Malaysia-Singapore cross-border crime cooperation , as the two countries prepare to renew their Memorandum of Understanding (MOU) on the matter. Malaysia’s Home Minister, Datuk Seri Saifuddin Nasution Ismail, announced that cybercrime will be a new focus in Malaysia-Singapore cross-border crime collaboration . The updated MOU will be signed on Nov 14 during Saifuddin’s meeting with Singapore’s Minister of Home Affairs and Law, K. Shanmugam. This move reflects the growing threat of cybercrime , which costs ASEAN an estimated US$64 billion annually. The agreement emphasizes capacity-building, intelligence-sharing, and joint operations as vital components for addressing cybercrime. The exchange of MOU documents will occur at the Annual Leaders' Retreat on Dec 8 in Malaysia, which will be attended by the prime ministers of both nations. Saifuddin also highlighted plans to discuss border congestion issues and will visit Singapore’s Immi
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GuocoLand’s Net Profit Halves Amid Lower Revenue in 1Q

GuocoLand (M) Bhd saw its net profit drop over 50% to RM2.32 million in the first quarter ending Sept 30, 2024, compared to RM4.79 million the previous year, primarily due to reduced contributions from its property development division. The company’s revenue fell nearly 50% to RM60.34 million from RM119.15 million a year earlier.

Amid challenging conditions in the domestic property sector, including high interest rates and rising construction costs, GuocoLand highlighted the difficulty of maintaining profit margins and noted an oversupply of properties across various markets.

To address these challenges, GuocoLand plans to:

  • Focus on timely completion of ongoing projects
  • Monetize inventories
  • Maintain prudent financial management

The company will phase new product launches to align with local market conditions and continue reviewing its landbank development plans to ensure relevance, while also exploring potential acquisitions for growth.

GuocoLand shares ended the day slightly lower by 0.71% at 69.5 sen, giving the company a market valuation of RM487 million.

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