The week at a glance 16 October 2016

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ta04257Sabah & Sarawak

Lower production in Sabah, Sarawak drags CPO production in September

Crude palm oil (CPO) production in September grew slightly by 0.8 per cent month on month (m-o-m), dragged by lower production in East Malaysia. Analysts with Affin Hwang Investment Bank Bhd observed that CPO  production in September rose by 0.8 per cent m-o-m to 1.72 million metric tonnes.

 

MPOC appeals for review of windfall profit levy on oil palm planters

The Malaysian Palm Oil Council (MPOC) will appeal to the government to review the windfall profit levy which is extremely burdensome to oil palm planters.

 

Enhancing trade ties between Sarawak and Indonesia

Deputy Chief Minister Datuk Amar Douglas Uggah Embas held a dialogue session with delegates and association heads from Sarawak prior to the 31st Trade Expo Indonesia in Jakarta. The purpose of the meet was to obtain feedback from the business community in Sarawak on how the state government can assist them to further boost and facilitate trade between Sarawak and Indonesia.

 

Sarawak Energy on track towards coal, gas-powered energies

Sarawak Energy Bhd (Sarawak Energy) is on track to achieve higher generation mix of energies from coal and gas as the state energy provider ramps up more plants over the next decade. Currently, SEB’s generation mix stands at hydropower (74 per cent), coal (10 per cent), gas (13 per cent) and diesel (three per cent).

 

National

Ahmad Husni hopes Budget 2017 will boost economy

Former second finance minister Datuk Seri Ahmad Husni Hanadzlah hopes the 2017 Budget will help strengthen the country’s economic position. He said Malaysia needed to implement a more innovative economy and transform the manpower into a highly-skilled workforce in order for the economy to continue to thrive.

 

Functioning rental market as policy priority

Experts have suggested that developing broader alternatives to home ownership, including a well-functioning rental market, should be pursued as a policy priority.  Bank Negara Malaysia said the suggested need for alternatives highlights the adverse consequences that poorly designed incentives to increase home ownership can have on housing affordability over the longer term.

 

AllianceDBS Research predicts no gaming tax hike in Budget 2017

AllianceDBS Research Sdn Bhd believes there will be no tax hike for gaming players in the upcoming Budget 2017 to be tabled on October 21 in spite of general consensus expecting said hike.

 

Perodua calls for special incentives for first time national vehicle buyers

Perusahaan Otomobil Kedua Sdn Bhd hopes the government will consider including special incentives for first time national vehicle buyers in the upcoming Budget 2017. President/chief executive officer Datuk Dr Aminar Rashid Salleh said the move is to further spur consumer spending.

 

CIMB announces Cross-Border Commodities Financial Services Platform in SFTZ

In conjunction with the third anniversary of the Shanghai Free Trade Zone (SFTZ), COMMIN, ValuePay, Mastercard and CIMB Bank announced the launch of the Cross-Border Commodities Financial Services Platform in SFTZ. The announcement was made at the signing of a Memorandum of Understanding in Shanghai on Thursday between all parties, and is an exclusive first for Mastercard.

 

BCM alliance IPOpublic portion oversubscribed by 49.943 times

BCM Alliance Bhd’s public portion shares under its initial public offering (IPO) have received an overwhelming oversubscription rate of 49.943 times.

 

Malaysia to continue to support connectivity improvement strategies

Malaysia will continue to support connectivity improvement strategies of roads, sea ports and airports to generate trade and investment, said Minister in the Prime Minister’s Department Datuk Abdul Rahman Dahlan.