Sabah & Sarawak
Palm oil stocks drop 2.64 pct to 1.56 mln tonnes in May
Malaysia’s total palm oil stocks in May 2017 declined 2.64 per cent to 1.56 million tonnes from the 1.59 million tonnes recorded in April. Crude palm oil stocks were also down by 16.52 per cent to 789,289 tonnes during the month in review from 861,983 tonnes registered a month earlier.
Petronas set to auction Kimanis crude on Dubai exchange
Petroliam Nasional Bhd is set to auction one of its crude grades on the Dubai Mercantile Exchange, according to sources familiar with the matter, making the state-owned company the first to sell a non-Middle East oil on the trading platform. Petronas has plans to offer September loadings of its Kimanis crude grade next month, the industry sources said.
Kuching’s Golden Anniversary Bridge nears completion
A joint venture between PPES Works (Sarawak) Sdn Bhd and Naim Land Sdn Bhd as the contractors saw a major milestone in the construction of the Golden Anniversary Bridge Project on Friday with the successful joining of the last segments of the steel walkway at the Sarawak River Waterfront, connecting Kuching North City and South City.
National
Pnb’s strategic investment companies’ market cap up by RM25 bln
Permodalan Nasional Bhd (PNB)’s strategic plan 2017 to 2022 has started to give positive results after six months of implementation with its strategic investment companies’ market capitalisation up by about RM25 billion.
World Bank pegs positive view on M’sia economic outlook in 2017
The latest Malaysia Economic Monitor launched by the World Bank has reported that Malaysia charted its highest quarterly growth rate in two years within the first three months of 2017, at 5.6 per cent year-on-year.
Petronas commits to high governance standards
Petronas’ leadership team, led by president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin signed the Malaysian Anti-Corruption Commission’s (MACC) Corruption-Free Pledge (CFP), strengthening the company’s resolve towards becoming a graft-free organisation.
HSBC invests us$250 mln to build hq in trx
The US$250 million to construct HSBC Malaysia’s future headquarter office in the Tun Razak Exchange site (TRX) underscored the bank’s commitment to develop Malaysia as a financial hub in the Association of South-East Asia, said HSBC Malaysia.
Celcom’s network interruption highlights struggle to turn around operations
Axiata Group Bhd’s wholly-owned Celcom Axiata Bhd experiencing major network interruption earlier this week highlights the subsidiary’s struggle to turn around operations.
National policy on industry 4.0 to be tabled to Cabinet in 4Q
The Ministry of International Trade and Industry (MITI) is leading a coordinated effort in the drafting of a National Policy on the Industry 4.0, with the target of tabling it to the Cabinet in the fourth quarter (Q4) of this year.
Malaysia ranks 27th in global innovation index
Malaysia ranked 27th worldwide and eighth in Asia on the Global Innovation Index 2017 released by Cornell University, INSEAD and the World Intellectual Property Organisation.
Mah in Italy to promote, strengthen commodities-based businesses
The Ministry of Plantation Industries and Commodities aims to promote and strengthen commodities-based, especially palm oil associated business linkages, between government and private sectors in Italy.
Lotte Chemical listing a vote of confidence in Malaysia
Lotte Chemical Titan Holding Bhd’s proposed listing on the Main Market of Bursa Malaysia reaffirmed Malaysia’s position as one of the preferred destinations for investment, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.
The minister said LCT, the largest integrated producer of olefins and polyolefins in Malaysia, is now the largest South Korean investor in the country.