Sabah & Sarawak
Firmer CPO price seen in coming months
The price of crude palm oil (CPO) is expected to trade firmer over the next few months. Affin Hwang Investment Bank Bhd said prices of CPO futures contracts continued to point to higher CPO prices in the coming months as the on-going El Nino phenomena gathers strength.
KKB to benefit from infrastructure projects in Sarawak
KKB Engineering Bhd (KKB) is likely to benefit from more infrastructure construction jobs in Sarawak. The research arm of MIDF Amanah Investment Bank Bhd said the potential announcement of infrastructure construction projects particularly for water, inter-urban road infrastructure and downstream oil and gas contracts from the upcoming Budget 2016 should augur well for KKB.
SAME initiative receives overwhelming response, Sarawak SMEs will not be neglected
The Secretariat for the Advancement of Malaysian Entrepreneurs (SAME) affirmed that small and medium enterprises (SMEs) in Sarawak will not be neglected on the back of overwhelming response for its financing scheme. SAME, which aims to assist local Chinese SMEs, is an SME and micro credit development unit under the Prime Minister’s Department aimed at assisting SMEs in every dimension and has been set up for almost a year.
Sarawak on track towards GDP goal by 2030
Sarawak is on track to achieve real gross domestic product (GDP) of RM118 billion in 2030 with Sarawak Corridor of Renewable Energy (SCORE). Regional Corridor Development Authority (Recoda) chief executive officer (CEO) Tan Sri Datuk Amar Wilson Baya Dandot said by the time, the state is also expected to achieve GDP growth of seven per cent and GDP per capita of RM97,400, with total new job creation of 1.6 million.
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National
‘Junk’ category not reflection of country’s fundamentals’
Malaysia’s placing in the ‘junk’ category by credit default swap (CDS) traders did not reflect the country’s economic fundamentals. Malaysian Economic Association (MEA) president, Tan Sri Mohd Sheriff Mohd Kassim, said what the CDS traders did was a reflection of the market sentiment and did not necessarily reflect economic facts or fundamentals.
Malaysia passes per capita GDP milestone en route to developed country status
Malaysia has passed an important milestone to achieve developed country status, said the Malaysia Industry-Government Group for High Technology (MIGHT). World Bank data shows that Malaysia’s gross domestic product (GDP) per capita of US$10,830 in 2014 exceeded for the first time the average of all nations worldwide, which was US$10,804.
Bond market to remain intact, even with foreign investor sell off, says governor
Malaysia’s bond market would remain intact even if there should be a sell-off by foreign investors, says Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz. If foreign investors sell the bonds, Zeti said Malaysia still has its domestic institutional investors such as the Employees Provident Fund, Permodalan Nasional Bhd and Tabung Haji.
Malaysia moves up to 18th position in global competitiveness
Malaysia has advanced two spots to 18th place out of 140 economies, consolidating its position among the world’s top 20 most competitive economies, its highest ranking since 2005. The Global Competitiveness Report 2015-2016, unveiled by the World Economic Forum (WEF) yesterday, ranked Malaysia in 18th spot with a score of 5.23 from the 20th place out of 144 countries last year.
Automatic assessment for registrants who fail to file gst statements
Automatic tax assessment will be made on 22,184 people who registered for the Goods and Services Tax (GST) but failed to submit the GST-03 Statements from October 12, said Royal Malaysian Customs Department (Customs) Director-General Datuk Seri Khazali Ahmad.
Haze leaves unmeasurable economic impact to Malaysia, Singapore — Economist
Finding a permanent solution to combat haze from recurring should be a regional priority, says an economist. Shane Oliver, Head of Investment Strategy and Chief Economist, AMP Capital said the longer the haze continues the more its measured economic impact will become noticeable.
LBS calls for review of cooling measures in Budget 2016 to aid property sector
LBS Bina Group Bhd (LBS Bina) hopes the government will review and ease the cooling measures for the property sector in the coming Budget 2016 to cushion the current economic challenges. The group also urged the government and Bank Negara to be more flexible with end financing guidelines and to grant further incentives for first time house-buyers.
AirAsia X launches direct flight from KL to Sapporo
AirAsia X Bhd (AirAsia X) celebrated its inaugural flight to Sapporo marking the long-haul low-cost airline’s 3rd destination into Japan, after Tokyo-Haneda and Osaka-Kansai from Kuala Lumpur. AirAsia X is offering promotional all-in-fares in conjunction with this significant milestone from as low as RM349 one way for standard seats or RM1,299 one way for the award-winning Premium Flatbed seats.