Using your EPF Account 2 to secure loan? What is FSA2 and can I apply for it?

On 9th March 2023, PM Anwar Ibrahim, who is also the finance minister, announced that the government is deliberating to greenlight the use of EPF savings as collateral for emergency loans, following repeated calls from the Opposition to allow further withdrawals.

Anwar pointed out that this would only apply to those who are really struggling with their financial circumstances.

Fast forward to today (3 April 2023), the Employees Provident Fund (EPF) announces that it has finalised the mechanism as well as the terms and conditions for the use of Account 2 savings as support for loan applications.

What is Account 2 Facility Support?

(FSA2 = Fasiliti Sokongan Akaun 2)

Do you know the 4 listed companies that signed MOUs in China?

It was a fruitful 3-days China trip made by our PMX DS Anwar Ibrahim which concluded with Malaysia having secured a record RM 170 billion in investment commitments from China.

This is a result of 19 memorandum of understanding (MOU) between businesses in China and Malaysia. "This is historic. It is good for Malaysia and the future," said the Prime Minister at the Malaysia-China Business Forum, which was attended by 1,000 business leaders from both countries.

AXA Affin + MPI Generali = GENERALI MALAYSIA

In the local insurance industry, it was glad to know that Generali has acquired a controlling majority in AXA Affin joint ventures in Malaysia and 100% purchase of MPI Generali Insurans Berhad.

So, on 1st April 2023, the businesses have been integrated under the launch of a single, unified brand - Generali Malaysia, one of the largest general insurers and emerging life insurer in Malaysia.

Who is Generali?

Gloves Back in Trend? Sentiment or Fundamental Driven?

Local glove stock prices have seen a nice price run-up recently, supported by strong volume as well. For example, Top Glove (TOPGLOV) one of the world's leading glove manufacturers continues to attract investors' attention in Bursa Malaysia this year.

The stock has been traded actively since reporting its latest quarterly result, which is still in the red, as investors seem to believe that the worst might be over and looking ahead for turnaround profitability during the second half of 2023.

To recap, prices of glove stocks plunged from November 2020 high. There are indications that the glove sector has probably reached its lowest point and is now beginning to turn around?"

Now, the question is whether this is sentiment or fundamental driven?

What is the implication of Silicon Valley Bank (SVB) collapse in Malaysia?

Silicon Valley Bank, one of the most prominent financial institutions catering to the technology industry, has been in the news lately for all the wrong reasons. The bank, founded in 1983, has been a pillar of support for tech startups, venture capitalists, and entrepreneurs.

However, recent developments have revealed that the bank is facing significant challenges, including a decline in profits, a rise in loan losses, and regulatory scrutiny. The bank has been struggling to cope with the economic fallout of the COVID-19 pandemic, and its exposure to risky loans has raised concerns about its long-term viability.

In this blog post, we will delve into the factors that led to Silicon Valley Bank's collapse, the impact it will have on the tech industry, and what is the potential impact on Malaysia.

Who is SVB?