Wednesday, November 29

The week at a glance 9 August 2015


Sabah & Sarawak

RAM revises CPO price forecast for 2015 to RM2,100 to RM2,300 per MT

RAM Ratings Services Bhd (RAM) revised downwards its crude palm oil (CPO) price forecast for 2015 to RM2,100 to RM2,300 per metric tonne (MT), from RM2,200 to RM2,400 per MT. Amid subdued sentiment, the commodity’s price averaged RM2,219 per MT in the first half of 2015 which is in the lower end of RAM’s earlier expectations.


KKB sees higher pre-tax profit in 2Q15

KKB Engineering Bhd (KKB) recorded higher pre-tax profit in the second quarter of 2015 (2Q15). The company in a filing to Bursa Malaysia said its pre-tax profit in 2Q15 increased by 19.5 per cent year-on-year (y-o-y) to RM10.44 million from RM8.74 million in 2Q14. KKB in its accounts notes in conjunction with the 2Q15 results announcement said the improved bottom line was attributed to contribution from the group’s steel pipes manufacturing division and the steel fabrication division.


Leverage on e-payment for transactions – BNM

Malaysians are encouraged to leverage on electronic payment (e-payment) as the upcoming approach for transactions as it provides greater benefits. Bank Negara Malaysia (BNM) Payment Systems Policy Department director Tan Nyat Chuan said the bank has implemented several regulatory frameworks to foster an enabling environment for small and medium enterprises (SMEs) and individuals to have convenient access to safe, efficient and affordable e-payment services.


MTIB eyes up to RM22 bln from timber, timber products export this year

The Malaysian Timber Industry Board (MTIB) is eyeing up to RM22 billion from the export of timber and timber products this year, said Director-General Dr Jalaluddin Harun. He said from January to May 2015, the total export revenue recorded a 0.6 per cent growth to RM8 billion compared with the corresponding period last year.


New standard for import and export of timber, rubber products to be announced

The Plantation Industries and Commodities Ministry is expected to announce a new standard for the import and export of timber and rubber products before year-end. It includes plywood and SMR 20 rubber grade.



‘Ringgit unlikely to touch RM4 to a dollar’

The ringgit is not expected to breach the 4.00 to a US dollar level this year and next year, said RAM Ratings. Economist and head of Research Kristina Fong said there were a lot of external uncertainty which was fueling the volatility in the ringgit.


FGV to conclude due diligence by end-August

Felda Global Ventures Holdings Bhd (FGV) hopes to conclude its due diligence exercise pertaining to the acquisition of 37 per cent stake in PT Eagle High Plantations (EHP) by end-August. Chief executive officer, Datuk Mohd Emir Mavani Abdullah, said to-date, the group has reached 75 per cent due diligence exercise for the acquisition.


Nexgram is steadfast in acquiring TRX land

Nexgram Holdings Bhd is steadfast in its decision to acquire a parcel of land in the 1Malaysia Development Bhd’s Tun Razak Exchange (TRX) here, its chief executive officer Datuk Larry Tey said.  However, to date the company is still in a negotiation phase and remains cautious in terms of costs and returns for the property.


BHPetrol to offer euro 5-grade diesel at 20 stations in Klang Valley

The new Infiniti Euro 5-grade diesel will be available at 20 petrol stations of Boustead Petroleum Marketing Sdn Bhd (BHPetrol) in the Klang Valley by end-September.

Managing director Tan Kim Thiam said the company planned to expand the availability of the new diesel to BHPetrol stations in the west coast such as Melaka next year.


Asean remains a popular destination for business for Malaysian companies

Asean remains a popular destination for business for Malaysian mid-sized companies with 76 per cent of those surveyed are doing business in the region. Standard Chartered Bank Malaysia chief executive officer/managing director Mahendra Gursahani said a study conducted by the bank also showed that 80 per cent of Malaysian mid-sized companies were confident of the growth potential of their businesses over the next five years.