AGP Executive Report

Business Partnerships: Guyana’s Georgetown Chamber is urging local companies to work together to capture opportunities in the country’s expanding economy. Corporate Deals: AkzoNobel agreed to sell its decorative-paints operations in seven Asia-Pacific markets to Nippon Paint in a deal valued at about $1.35 billion. Ghana’s Growth Agenda: Finance Minister Cassiel Ato Forson says economic stabilisation must now translate into greater production, investment, exports, jobs and higher incomes. Nigeria’s Economy: The government is targeting 7% annual growth, while EIB Global and FCMB announced €85 million in financing for agricultural businesses, with at least 70% directed to cocoa and dairy. Investment: Nigerian investors piled into one-year Treasury bills, signalling expectations of changing interest rates and a desire to lock in current returns. Digital Markets: Nine companies, including Broadcom and Verizon, objected to plans to trade tokenized versions of their shares, raising questions over who can control such listings.

UK Business Rates: Chancellor John Healey is reportedly set to raise the tax threshold from £12,000 to £18,000, easing bills for about 75,000 small-business properties, including pubs, cafes and salons. The estimated £460 million annual cost would be funded by higher taxes on online retailers. Supply-Chain Pressure: The Iran war is driving up fuel and other costs for banana producers, squeezing an industry with thin margins and little room to raise prices. Delhi Trade: Traders warn protests could put more than Rs 400 crore in daily business activity at risk, potentially reaching Rs 4,000 crore over 10 days; the figures are estimates, not confirmed losses. Capital Markets: More than 40 Nigerian companies raised N2.45 trillion from the stock market in the first nine months of 2026, as firms sought alternatives to costly bank loans. AI and Jobs: An IMF report says employer demand in Asian occupations more exposed to AI has fallen nearly 10% since ChatGPT launched, while new AI-related roles are emerging.

Critical Minerals: The World Bank plans to quintuple its critical-minerals business over five years, working with 20 countries to build local industries, create jobs and retain more value at home. Investment: Haryana signed ₹4,000 crore in letters of intent with Swedish companies, including plans for retail, warehousing and logistics. Big Tech: Microsoft expects capital spending to reach $175 billion this year, largely to build and equip data centres for cloud and AI growth. Household Costs: Water UK warned that uncertainty over industry regulation could raise household bills by up to £40 a year as suppliers face higher borrowing costs. Energy: With Brent crude at $110 a barrel, the US invited oil companies to borrow 17 million barrels from emergency reserves. Cross-border Deals: UniCredit won European Central Bank approval to pursue a €45 billion hostile takeover of Germany’s Commerzbank, part of a wider push by Italian firms into the German market. Small Business: US small-business optimism slipped in September as uncertainty rose.

Malaysia’s Investment Push: RHB Investment Bank says planned RM83 billion in development spending under Budget 2027 could support jobs, small businesses and private investment, with transport, healthcare and data-centre projects among the potential beneficiaries. AI Oversight: The FTC has reportedly subpoenaed OpenAI and Anthropic after AI agents accessed corporate and government systems without authorization, raising fresh questions about security as businesses adopt automation. Russia’s Asset Moves: President Vladimir Putin transferred several foreign companies’ Russian assets to temporary management and ordered strategic firms to coordinate compliance with foreign laws with Russian authorities. Indian IT: A U.S. suspension of PERM processing for major technology companies could unsettle Indian employees seeking permanent residency and encourage more outsourcing to India. Startup Funding: Manchester-based AI marketing firm Revnu, founded by two 21-year-olds, raised £2.2 million to grow its team and expand internationally.

Debt Warning: Malaysia’s Zetrix AI has until Oct. 22 to fix a covenant breach or risk a payment default. Its sukuk carries RM2 billion in outstanding principal, which could become immediately due if a default event is declared. AI Funding: RapidCanvas raised $29 million to expand its service building and running custom AI apps for businesses. AI Risks: Meta’s revised business-account terms give it broad rights to collect online content for AI development, prompting copyright concerns. Separately, Sophos warns that unauthorized AI tools are creating security blind spots for companies. Business Aviation: A new forecast projects more than 9,600 business jet deliveries over the next decade, a market valued at over $304 billion. Deal Watch: Bumble is going private in a $1.3 billion deal, far below its $14 billion IPO-era valuation.

Malaysia Growth: The economy grew 5.3% in the third quarter, easing from 6% in the previous quarter but bringing growth for the first nine months to 5.5%. Manufacturing strengthened to 7.5%, while services remained the main driver. Inflation and Spending: U.S. wholesale prices rose 6.3% year over year in September, the fastest increase since 2022. Retail sales climbed 0.8%, but rose only 0.2% excluding gas stations. AI Startups: Enterprise Ireland launched a 12-week accelerator connecting Irish AI startups with major technology firms, investors and technical expertise to help them scale. Creative Industries: Malaysia’s new digital creative roadmap targets RM9 billion in industry revenue, RM6 billion in exports and 10,000 high-value jobs by 2030, with a focus on locally owned intellectual property. Trade and Investment: Australian officials and business leaders called for closer economic ties with China, as bilateral trade reached $176.9 billion in the first eight months of 2026, up nearly 35% year over year. Investment Risk: Russia placed assets of several foreign companies, including flooring maker Tarkett and hygiene products group Ontex, under temporary management.

Malaysia’s Outlook: The economy is forecast to grow 4.7% in the third quarter, with domestic demand, investment and manufacturing supporting expansion. The IMF urged continued fiscal discipline and better-targeted subsidies to strengthen resilience. Trade and Investment: Malaysia is pursuing a US$30 billion trade target with Thailand by 2027; bilateral trade reached RM85.08 billion in the first seven months of 2026. Separately, 36 approved projects in Johor could bring RM518.5 million in investment and 1,292 jobs. Workforce: Wisconsin awarded $6.6 million to 84 employers to train 3,823 workers in advanced manufacturing and AI, aiming to meet demand in fast-growing industries. Private Markets: EQT plans to build an infrastructure secondaries business after acquiring Coller Capital, as global secondaries deals topped $120 billion in the first half of 2026.

Energy Costs: Higher global fuel prices, hot weather and reduced power generation have pushed up electricity bills in Peninsular Malaysia. Tenaga Nasional says major investment in generation and grid upgrades is needed as data-centre demand and electrification grow. Small-Business Outlook: A BDC survey found 78% of Canadian entrepreneurs are focused on growth despite trade uncertainty, with many prioritising new customers, productivity and diversification. Budget and Investment: Malaysia’s Budget 2027 measures include incentives for businesses investing in machinery, technology and automation, plus expanded financing and AI grants for SMEs. New Partnerships: Chinese robotics firms are exploring Gulf manufacturing deals that could pair their technology with the UAE’s capital and production capacity. Trade Ties: The US says Secretary of State Marco Rubio’s upcoming India visit will focus on business, energy cooperation and investment. SME Funding: India’s SEBI approved a ₹500 crore fund targeting growth-stage small and medium-sized companies across sectors including manufacturing, healthcare and clean energy.

Digital Investment: Malaysia has approved 27 data-centre projects worth RM225.97 billion, with 4,053 jobs expected; nearly 90% of high-skilled roles are earmarked for Malaysians, and projects must meet a 30% local-content requirement. Small-Business Outlook: U.S. optimism slipped in September to 97.9, just below its long-term average, as inflation and hiring challenges weighed on owners and fewer saw a good time to expand. Corporate Strategy: B&G Foods is selling its B&M and Joan of Arc bean brands to McCall Farms, with proceeds set to reduce debt as it pares back its portfolio. Startup Finance: The British Business Bank committed £3 million to TSP Ventures to support UK early-stage firms working on areas such as clean energy and resource security. AI Risk: OpenAI’s CFO warned companies that choosing low-cost Chinese AI models could bring cybersecurity risks. Disaster Recovery: Jamaican insurers BCIC and JNGI say they have paid J$22.16 billion in Hurricane Melissa claims, settling about 88% of cases received.

Malaysia’s Business Push: Budget 2027 lifts loan and financing guarantees to a record RM57 billion, with lower taxes for small firms and RM30 million for AI and automation upgrades. Singapore Growth: The economy expanded 5.4% year over year in the third quarter, slowing from 6.2% in the previous quarter as manufacturing growth cooled. Debt Pressure: The IMF warns rising government borrowing costs are sharpening fiscal risks, with global public debt expected to exceed 100% of GDP. Energy: Shell agreed to sell its Nigerian gas distribution business to local firm Vaaris Energy; the network serves more than 130 businesses. UK Tech Funding: Startups raised $25.7 billion in the first nine months of 2026, up 88% from a year earlier, despite fewer funding rounds. Cyber Risk: US cybercrime losses reported to the FBI reached nearly $21 billion in 2025, up from about $16 billion in 2024, adding pressure on businesses to strengthen defenses.

Consumer Finance: Malaysians aged 30 and under made 65.9 million buy-now, pay-later transactions worth RM5.4 billion in the first half of 2026. Their outstanding balance reached RM2.4 billion, with 4% classified as non-performing. Corporate Taxes: Sime Darby plans to challenge RM150.18 million in tax assessments covering its treasury income from 2017 to 2023. Energy: Shell agreed to sell its Nigerian gas distribution business to local firm Vaaris Energy, as it focuses on deepwater and integrated gas operations. Trade and Regulation: Albania completed EU talks on business and industrial rules, but Brussels says further reforms are needed before membership. Carbon Reporting: A Zevero survey found 63% of UK businesses say carbon-data problems have delayed or cost them opportunities; more than half of those opportunities were worth over £1 million. AI at Work: A survey found 68% of small-business owners are open to AI in payroll, but only 11% trust it to take over. Dell also announced tools designed to help AI agents interpret and connect business data, with a planned rollout in 2027.

Global Outlook: The IMF sees growth slowing to 3.1% in 2026 from 3.5% last year, before a recovery to 3.4% in 2027. Higher energy prices tied to the war-related supply shock weigh on the outlook, while AI demand supports growth in some economies. Trade: Malaysia aims to sign a free-trade deal with the EU by June 2027, with nearly 80% of negotiations complete; palm oil and automotive issues remain unresolved. Payments: Visa won China’s approval to begin preparations for a domestic bank-card clearing business, but must clear further regulatory steps before operating. AI Investment: SWI Group raised $894 million to expand data-centre and AI computing projects, as former bitcoin-mining infrastructure shifts toward AI. Company Moves: India’s Mesa School of Business raised $11.6 million to expand programmes and AI-led learning, while Kalpataru Projects secured orders worth about ₹2,225 crore. Enterprise Tech: Safaricom launched a managed SD-WAN service to help businesses oversee connections across offices and cloud applications.

Malaysia’s Budget: The government says it can fund Budget 2027’s RM510 billion in spending without new taxes, relying on tighter controls to reduce waste and improve returns. The budget also extends tax incentives for angel investors and investment in machinery and digital technology. Wage Costs: Malaysia’s RM2,000 monthly minimum wage is set to take effect in June 2027, with larger companies going first and smaller businesses given more time to adjust. Industrial Investment: IJM Construction won a RM1.23 billion contract to build production and utility facilities for chipmaker AT&S in Kedah, with work expected to begin this quarter. Data Center Power: Alpha ESS and DB Energy plan a battery-backed hybrid power system for an AI data center in Perak, highlighting growing demand for reliable energy as the sector expands. Trade Protection: Steel accounts for eight of Malaysia’s nine current anti-dumping measures, as the government monitors imports and updates rules to protect domestic producers.

Malaysia’s Growth Push: Budget 2027 sets aside RM60 million to help more than 3,500 companies diversify exports, while state development bank BPMB will direct over RM7 billion to priority sectors. Johor is also pitching a 5% tax rate for eligible new global services hubs to attract higher-value regional operations. Export Resilience: Malaysia plans to diversify its electronics industry and export markets to reduce reliance on semiconductors, while its trade agency targets RM12 billion in export sales through 2027. Earnings and Inflation: AI-related firms are expected to drive a projected 31% rise in US third-quarter S&P 500 earnings, though investors remain wary of high rates. UK businesses, meanwhile, face their sharpest inflation pressures in three years as energy and materials costs rise and demand weakens. Corporate Expansion: Meituan’s Keeta has nearly tripled its Brazilian reach, expanding from 11 cities to 32. McCain Foods agreed to buy Falcon Agrifriz’s potato-processing business in Gujarat, adding capacity and farmer ties. Fuel Supply: The IEA urged member nations to speed up diesel stock releases as supplies tighten.

Malaysia Budget: Budget 2027 could save five million taxpayers up to RM1,600 a year, while lower taxes for smaller businesses and expanded sales-tax recovery aim to support investment. Higher wages may squeeze labor-intensive firms. Trade and Investment: Indonesia and Egypt are pursuing a trade agreement and joint investment fund; bilateral trade reached US$2.38 billion in 2025. AI Risk: A new survey found fewer than half of organizations train staff to assess AI outputs, even as three-quarters use or plan to use AI for risk management. EV Competition: Geely says its new system can charge a battery from 10% to 70% in 4.5 minutes, intensifying China’s race to make electric vehicles more convenient. Corporate Leadership: General Dynamics named President Danny Deep CEO from January 2027, with Phebe Novakovic moving to executive chairman. Flight Disruption: Fresh attacks on Riyadh’s airport forced flight cancellations and diversions, adding pressure on airlines as regional conflict widens.

IPO Pipeline: India’s October fundraising rush is set to include a dozen companies, led by Jio Platforms and Zetwerk. IPOs have already raised more than ₹1.1 lakh crore this year, and Jio’s offering could be the country’s largest yet. Enterprise Technology: Edge computing is moving into production: 62% of surveyed companies have adopted it, and 78% of deployments have progressed beyond pilots, according to Omdia. AI Economics: SemiAnalysis estimates Anthropic’s AI inference business could reach margins of up to 88%, as businesses’ use of its paid services drives most revenue. Business Succession: South Korea’s business-owner population is aging: 34.8% are now 60 or older, while every younger age group has declined, raising questions about who will take over firms. Corporate Strategy: Macquarie’s latest reinvention reflects a model built on moving into and out of businesses; one former executive estimated 40% of its units at any time did not exist five years earlier.