Sabah & Sarawak
Unusual drop in stocks no deterrent for palm oil
Malaysia’s palm oil inventories dropped consecutively despite exports slumping to a one-year low as domestic consumption picked up strongly. To note, inventories dropped 5.3 per cent month on month (m-o-m) to 1.45 million metric tonnes (MT) – the lowest level in six years.
KTC secures distributorship for Kopiko and other products
Kim Teck Cheong Distribution Sdn Bhd, a wholly-owned subsidiary company of Kim Teck Cheong Consolidated Berhad (KTC) was appointed by Premium United Foods Sdn Bhd as a distribution partner to distribute a range of products such as coffee candy, coffee, chocolate, biscuits and other products. The agreement allows Kim Teck Cheong Distribution Sdn Bhd to distribute products under the brand names of Kopiko, Choki Choki, Danisa Butter Cookies and others.
Sarawak Energy capable of taking on debt from acquiring Sarawak Hidro
Sarawak Energy Bhd (SEB) is able to take on additional debt for the proposed acquisition of Sarawak Hidro Sdn Bhd – owner and operator of the Bakun hydroelectric plant – as well as the existing debts of the acquiree, provided the Group maintains its existing planned capacity expansions.
According to RAM Ratings, the existing debts of Sarawak Hidro after the proposed acquisition could be offset by future payment obligations to Sarawak Hidro under the power-purchase agreement between the two parties – these have already been considered by RAM as adjustments to Sarawak Energy’s debt.
Malaysia strongly opposes eu parliament resolution on palm oil
Malaysia strongly opposes a proposed European Union (EU) Parliament resolution on the commodity, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong. The resolution, scheduled to be tabled in April, among others, stresses the need for a single certification that would guarantee only sustainably produced palm oil enters the EU market.
Sabah Energy Corp launches third phase gas distribution project
Sabah Energy Corporation Sdn Bhd (SEC) on Thursday launched its Third Phase Gas Distribution Project, which entails distributing natural gas in liquefied form. Launched by Chief Minister Datuk Seri Musa Aman, the RM60 million project would be able to overcome the constrains faced under phases one and two, thus widening the spectrum of customers in Sabah.
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National
Malaysia less interested in TPPA with US withdrawal
Malaysia is less interested in continuing with the Trans Pacific Partnership Agreement (TPPA), with the US having opted out. Minister of International Trade and Industry Datuk Seri Mustapa Mohamed on Monday said Malaysia along Vietnam, Singapore and Brunei joined the TPPA with the aim of gaining better access to markets, particularly the US.
Coca-cola Malaysia to invest RM500 million to scale up Nilai plant
Coca-cola Malaysia will invest RM500 million to expand the size and production capacity of its current plant at Bandar Enstek. chief executive officer of Bottling Investment Group Singapore -Malaysia-Brunei, Stephen Lusk said construction on another 4.047 hectares, adjacent to the 12.545 hectares of the current plant, is expected to begin in the first quarter of this year and be fully operational in 2020.
IOSCO reflects strength, quality of capital market
The opening of the International Organisation of Securities Commission’s (IOSCO) Asia-Pacific Hub here is a recognition of Malaysia’s international leadership role in building sound global capital markets. Prime Minister Datuk Seri Najib Tun Razak said the selection of Malaysia as the host also reflected the strength and quality of the country’s capital market as well as its regulatory architecture.
Malaysia’s net bond issuance to reach RM80 bln this year
Malaysia’s net bond issuance is expected to reach RM80 billion this year, according to the Financial Markets Committee (FMC). In a statement, Bank Negara Malaysia (BNM) said the size of Malaysia’s bond market relative to Gross Domestic Product (GDP) remained the largest in Southeast Asia and the third largest in Asia.
Govt to monitor usage of Malaysian materials in mega projects
The government is set to formulate a mechanism to monitor usage of Malaysian materials and services in mega construction projects in the country and overseas. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said it would be jointly developed by the Malaysian Investment Development Authority and the Construction Industry Development Board.
Rohas tecnic eyes RM500 mln order book this year
Rohas Tecnic Bhd, which made its debut on the Main Market of Bursa Malaysia on Friday, has set an order book target of over RM500 million for this year in power transmission, water treatment and telecommunications projects.