The week at a glance 26 July 2015

0

TA00940Sabah & Sarawak

Indonesian levy collection will have neutral impact on CPO prices

With the Indonesian government having begun the collection of crude palm oil (CPO) and processed palm oil levies on July 16, analysts believe the impact on CPO prices would be neutral but expect Malaysian exports to benefit due to lesser supply coming from Indonesia. Based on Kenanga Investment Bank Bhd’s channel checks, the authorities there have indeed started collecting the US$50 per metric ton  CPO levy and US$30 per MT processed palm oillevy.

 

‘O&G SPACs an attractive option in current investment outlook’

Special purpose acquisition companies (SPACs) are proving to be an attractive investment alternative given today’s uncertainties in both external and internal issues. The research team at Hong Leong Investment Bank Bhd highlighted that SPACs investment looks attractive by offering a certain return — circa 13 per cent per annum — to investors.

 

KKB to gain from new purchase orders, rural development projects

KKB Engineering Bhd (KKB) is expected to benefit from the government’s expenditure in rural development especially for the supply of steel pipes for water projects in addition to securing two new purchase orders this month.  According to AmResearch Sdn Bhd (AmResearch), the state govenment could likely announce more rural development projects ahead of the state election due by June next year. The research firm believed KKB will be one of the companies to benefit from more rural development projects in Sarawak.

 

‘Proper certifications key to accessing global timber markets’

As Sarawak has undergone rapid developments which resulted in changes in land uses and natural resources utilisation, there is a growing need to improve the overall sustainability of the forest industry. Global markets have also shifted to promote healthy and sustainable production practices by enforcing standard measures to control timber imports into the country or region. Therefore, proper certifications for forest management is necessary to open up business opportunities on the global platform.

 

Sabah committed to producing quality workforce

The Sabah Industrial Development Ministry is committed to produce skilled workers to fill quality jobs generated from various industries in the state.  Minister Datuk Raymond Tan Shu Kiah, who is also Sabah Deputy Chief Minister, said over 50 per cent of the state’s workforce had primary or secondary education and this was worrying the government.

 

Job market in Malaysia to continue growing in 2H15

Malaysia’s job market is currently experiencing growth as companies seem to be increasingly ambitious in terms of seniority, volume and niche nature of the hires they are looking to position in the country. According to global boutique recruiter Ambition, there appears to be another big drive of entities setting up shared services hubs in Malaysia, including large multinational corporations as well as a number of mid-range companies looking to leverage tax and cost advantages of consolidating their corporate services here.

 

 

—-

National

SMES refuse to register business for fear of being taxed

Some small and medium entrepreneurs opt not to register their business for fear of being taxed, says SME Corporation Malaysia chief executive Datuk Hafsah Hashim. She said the fear of attracting corporate tax and incurring high registration cost were the two factors deterring them from registering their companies.

Maybank the only Malaysian company in Newsweek’s Global 500 Green Rankings

Malayan Banking Bhd (Maybank) has been ranked 256 in Newsweek’s Global 500 Green Rankings 2015, according to the magazine on Monday. It was also the top Asean financial institution in the ranking.  The Newsweek Global 500 Green Rankings 2015 is part of the Newsweek Green Rankings which consist of two separate categories.

Call for companies to hedge against ringgit, use local raw materials

Malaysian exporters have been urged to consider hedging the current level of ringgit, which is said to be best level for export, against the US dollar, besides increasing productivity by using local raw materials. Malaysia External Trade Development Corporation said Malaysian exporters, who obtained their revenue in US dollar, enjoyed a profit due to declining dollar, but as the ringgit depreciation was temporary in nature, hedging it to maintain the best level of exports was justified.

Ng brothers retain top spot in Forbes 2015 Singapore Rich List

Robert and Philip Ng retained their six-year hold of the top spot in the latest Forbes Singapore Rich List, with a combined net worth of US$8.7 billion. The Ng siblings, whose family controls Singapore’s Far East Organisation and Hong Kong’s Sino Group, saw their wealth decline amid the property slowdown in Singapore and slowing sales in Hong Kong.

UOB Malaysia shines at CXFS Asia Awards 2015

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has won the Best Customer Experience Business Model award at the inaugural Customer Experience in Financial Services (CXFS) Asia Awards 2015.

The award was given to UOB Malaysia in recognition of the bank’s “Raising customer experience through people” customer experience and customer loyalty initiative.

 

Rosy prospects for Ikhmas Jaya in coming listing

Analysts believe Ikhmas Jaya Group Bhd’s (Ikhmas Jaya) prospects remain bright underpinned by strong tender book as it makes its way towards listing on Bursa Malaysia this coming Monday.

AmResearch Sdn Bhd said the bore piling specialist’s prospects will be supported by its tender book of approximately RM3 billion.