Sabah & Sarawak
Palm oil stocks rises 12.58 pct to 1.94 mln tonnes in August
Malaysia’s total palm oil stocks in August 2017 rose 8.79 per cent to 1.94 million tonnes from 1.78 million tonnes recorded in July. Crude palm oil stocks also increased by 12.58 per cent to 1.06 million tonnes during the month in review from 938,502 tonnes registered in the preceding
month.
New truck Croner specifically made for markets like East Malaysia
UD Trucks, together with its sole distributor, Tan Chong Industrial Equipment Sdn Bhd (TCIE) has launched Croner, an all-new medium-duty truck, for the East Malaysian market. UD Trucks, which belongs to Swedish truck giant Volvo Group since 2007, was first established in Japan in 1935 as Nissan Diesel and had made its way into Malaysia almost four decades ago through TCIE – the truck business arm of Tan Chong Motor Holdings Bhd.
Sabah proposes DFTZ at KKIP
Sabah hopes the Federal government through the Ministry of International Trade and Industry (MITI), will consider utilising the Kota Kinabalu Industrial Park (KKIP) as a Digital Free Trade Zone (DFTZ) in the state. Deputy Chief Minister, Datuk Raymond Tan Shu Kiah, who is also the Industrial Development Minister, said such an economic hub could encourage more companies in Sabah, especially small and medium enterprises (SMEs), to engage in e-commerce.
National
BioNexus-status firms to play more prominent role
The Malaysian BioNexus-status companies are expected to play a more prominent role as they undertake more aggressive commercialisation activities, said Science, Technology and Innovation Minister, Datuk Seri Madius Tangau. He said Malaysia now has a network of 286 BioNexus companies and moving forward, the country needed to sustain the momentum for more aggressive commercialisation activities from them.
Business events industry to generate more than RM3.9 bln in GNI
Malaysia’s business events industry is expected to generate more than RM3.9 billion in gross national income and bring in 2.9 million visitors by 2020, said Tourism and Culture Minister, Datuk Seri Mohamed Nazri Abdul Aziz. He said the industry would also offer 16,720 jobs and last year alone, 5.1 per cent of tourist arrivals came from business event visitors.
Trademark-intensive industries directly contribute 30 pct to GDP
Trademark-intensive industries in Malaysia have generated 30 per cent direct and 60 per cent indirect contributions to the country’s gross domestic product (GDP), said the International Trademark Association (INTA) study released on Wednesday.
Mega M’sia-US trade deals to be positive in the medium to long-term
Mega bilateral trade deals concluded between Malaysia and the United States during Prime Minister Datuk Seri Najib Tun Razak’s just-concluded visit to the latter is poised to be very positive for the country’s economy in the medium- to-long-term, says an economist.
Malaysia’s foreign policy a catalyst to economic growth
Malaysia’s open foreign policy towards other countries has spurred investment and trade opportunities to become a catalyst to its economic growth, Datuk Seri Najib Tun Razak said. The Prime Minister said Malaysia has benefited from investment and trade worth tens of billions of ringgit with several countries, including the US.
Khazanah: Investments in US in line with mandate to create long-term value
Khazanah Nasional Bhd’s investments in the United States are in line with the government strategic investment arm’s mandate to create long-term value for Malaysia via multiple sectors and geographies.
Khazanah in a statement on Friday said it had to date made a total of 15 investments worth approximately US$410 million in the US, principally in the technology sector.
Takaful Ikhlas chieftain bags best CEO 2017 Award
Takaful Ikhlas Bhd president and chief executive officer, Datuk Ab Latiff Abu Bakar, has been named Best Chief Executive Officer (CEO) 2017 for the takaful Industry at the Global Islamic Finance Awards (GIFA) 2017 Awards Ceremony.
EPF records higher income of RM11.51 bln in 2Q
The Employees Provident Fund (EPF) has reported a 36.36 per cent increase in investment income to RM11.51 billion for the second quarter ended June 30, 2017 from RM8.44 billion in the same period last year. In a statement on Friday, the provident fund said out of the total income, fixed Income instruments contributed 37.29 per cent, equities, while real estate and infrastructure and money market instruments contributed 6.23 per cent and 2.64 per cent, respectively.