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Malaysia

Malaysia can exceed RM1 trillion total exports target

Darell Leiking

Malaysia according to him recorded RM998 billion in total export, about 0.2 per cent short of surpassing the RM1 trillion threshold. “But this year we believe we will have an export growth around 3.4 per cent and hopefully we will be able to meet the said (RM1 trillion) target,” he told reporters on the sidelines of the Beyond Paradigm Summit ... Read More »

State customs overpaid RM41.4m in LPG subsidies in three years

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KUALA LUMPUR : The state customs has overpaid a total of RM41.4 million in liquefied petroleum gas (LPG) subsidies claim from 2015 to 2017. According to the activities of the Federal Ministries/Departments 2018 section under the Auditor General’s Report 2018 series 1, the overpayment is due to a claim submitted to the Treasury without the approval of the State Customs ... Read More »

Malaysian PM for cementing trade ties with Pakistan

Malaysia exports ports

RAWALPINDI – The Rawalpindi Chamber of Commerce and Industry (RCCI) has organised 32nd Achievement Awards ceremony in Kuala Lumpur, Malaysia, informed a spokesman on Wednesday. Prime Minister of Malaysia Dr Mahateer Muhammad was the chief guest on the occasion, he added. The ceremony was attended by key dignitaries from government of Malaysia, ambassadors, commercial counselors, representatives from Federation of Malaysian ... Read More »

Taiwan-Malaysia trade expected to grow 10% in 5 years

David-Hsu

BILATERAL trade between Malaysia and Taiwan is expected to grow at least 10% within five years from now, according to recent economic forecasts. In 2018, trade between the two countries recorded a growth of 22.1% valued at US$23.73 billion (RM98.16 billion). Taipei Economic and Cultural Office in Malaysia economic division director David Hsu (picture) said in the first five months ... Read More »

Malaysia implements “sugar tax” to reduce obesity

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KUALA LUMPUR: Malaysia began implementation of a “sugar tax” on sugar-sweetened beverages from Monday onwards to cut down the country’s high levels of obesity. In a statement, the Malaysian Customs Department said licensed importers of sweetened beverages were required to produce a letter of undertaking and also submit laboratory reports to ensure the total sugar content of their drinks did ... Read More »

Huawei investment welcomed in Malaysia: Malaysian finance minister

Shoppers browse smartphones at a Huawei retail store in Hangzhou in eastern China's Zhejiang province, Thursday, May 16, 2019. In a fateful swipe at telecommunications giant Huawei, the Trump administration issued an executive order Wednesday apparently aimed at banning its equipment from U.S. networks and said it was subjecting the Chinese company to strict export controls. (Chinatopix via AP)

Malaysia welcomes Huawei and other Chinese companies to invest in the country, said Malaysian Finance Minister Lim Guan Eng Monday in Beijing. The country endorses fair competition and welcomes foreign investors as long as they are reliable and responsible, said Lim in an interview with Xinhua. Citing a quote “no power on earth can stop an idea whose time has ... Read More »

PLUS Malaysia appoints Mohamad Nasir as chairman

Mohamad Nasir Ab Latif

KUALA LUMPUR: PLUS Malaysia Bhd has appointed Datuk Mohamad Nasir Ab. Latif as its chairman effective from Thursday. He succeeds Tan Sri Mohd Sheriff Mohd Kassim who has opted to retire on Thursday after almost 17 years of leading the PLUS group. Mohamad Nasir who serves on the board of director PLUS Malaysia since Dec 31, 2013, began his career ... Read More »

Malaysia’s business outlook looking positive: HSBC survey

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KUALA LUMPUR: Malaysia’s business outlook is looking positive in the near future with 80% of the businesses expecting growth in the next one to two years, according to the latest survey by HSBC. HSBC Malaysia Sdn Bhd in a statement said the survey titled ‘Navigator: Made for the Future’ revealed that 16 per cent of exporters expect their business to ... Read More »

Malaysia’s 1MDB criminal case against Goldman Sachs is now delayed until September

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Malaysia’s criminal case against U.S. investment bank Goldman Sachs involving $6.5 billion 1MDB bonds will be postponed to September, a court ruled on Monday, after defense lawyers asked for more time to receive instructions from their clients abroad. Malaysian prosecutors had previously issued summonses to three Goldman Sachs units in the United Kingdom, Hong Kong and Singapore, requiring them to ... Read More »

Malaysia Keeps July Crude Palm Oli Export Duty At 0%

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KUALA LUMPUR, : Malaysia kept its export duty on crude palm oil for July unchanged at 0%, according to a circular on the Malaysian Palm Oil Board’s website on Thursday that cited the national customs department. The duty has been at 0% since September. Malaysia, the world’s second-largest producer of palm oil, calculated a palm oil reference price of 1,970.44 ... Read More »

Malaysia among countries eyed by Apple to move production capacity

ApplesuppliersrecoverafterinitialpoundinginHongKong

TOKYO: Apple Inc has asked its major suppliers to assess the cost implications of moving 15%-30% of their production capacity from China to Southeast Asia as it prepares for a restructuring of its supply chain, according to a Nikkei Asian Review report on Wednesday. Apple’s request was a result of the extended Sino-U.S. trade dispute, but a trade resolution will ... Read More »

Singapore welcomes Malaysia’s proposal for sheltered walkways across the Causeway

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SINGAPORE : Singapore welcomed Malaysia’s plans to build sheltered walkways across the Causeway, although it has yet to receive any official proposal or communication on the plans. In response to TODAY’s queries on Malaysia’s plans for sheltered walkways linking Johor to Woodlands, a spokesperson from the Ministry of Transport (MOT) said on Wednesday (June 19) that there is already a ... Read More »

Port tycoon warns industry is no longer a numbers game

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WHEN Westports Holdings Bhd burst onto the port scene in 1994, its founder had the rather unconventional idea of building a garden port — basically, a port surrounded by lush green gardens. While the port community may well have been amused by such a concept, which is more common at airports, Tan Sri G Gnanalingam was not. Twenty-five years on, ... Read More »

Malaysia-Thailand to run 24-hour ICQS operations from midnight

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PUTRAJAYA: Malaysia and Thailand have agreed to commence a 24-hour operations at Immigration, Customs, Quarantine and Security (ICQS) Bukit Kayu Hitam and Customs, Immigration and Quarantine (CIQ) Sadao starting from midnight (June 18). The Foreign Ministry said this was in an effort to further enhance connectivity, investment and flow of trade between the two countries. “The 24 hour operations will ... Read More »

Two Malaysians caught under-declaring value of items at Woodlands Checkpoint

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SINGAPORE : Two Malaysian men were caught trying to evade the goods and services tax (GST) on items they brought into Singapore at Woodlands Checkpoint, Singapore Customs said in a Facebook post on Friday (June 14). Both men were nabbed by Singapore Customs officers on Monday. One of them, a 30-year-old, under-declared the value of 45 pieces of machine components ... Read More »

Malaysia end-May palm stocks fall to 10-month low

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KUALA LUMPUR: Malaysian palm oil stockpiles fell to a 10-month low at end-May, according to official data on Wednesday, extending monthly falls since March, as export gains outpaced an unexpected rise in production. Benchmark palm oil prices have eased about 5% since the start of the year, weighed by concerns about high stocks and flat demand. Falling stockpiles could support ... Read More »

Bursa Malaysia launches Bursa Anywhere mobile app

Bursa Anywhere

KUALA LUMPUR: Bursa Malaysia has launched the first mobile central depository services (CDS) electronic platform in Asean. Targeted towards the retail investors in the Malaysian stock exchange, the Bursa Anywhere app is designed to become a “one-stop” platform where investors can manage their multiple CDS accounts without much hassle. By using the Bursa Anywhere app via their smart devices, investors ... Read More »

Malaysia to implement tighter checks on plastic waste

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More stringent checks will be carried out on containers at all Malaysian ports to ensure that no prohibited plastic waste enters the country. Malaysia’s customs director-general Datuk Paddy Abdul Halim said they were working with the National Solid Waste Management Department and the Department of Environment to combat the smuggling of plastic waste into the country. “We are carrying out ... Read More »

Malaysia May palm oil stock seen easing to 10-month low

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KUALA LUMPUR: Malaysia’s palm oil stocks likely hit a 10-month low by end-May, according to a Reuters survey, logging a third straight month of fall due to a dip in output and rise in exports. Stockpiles in Malaysia, the world’s second-largest palm oil producer and exporter, is expected to fall 9.7% from April to 2.46 million tonnes in May, according ... Read More »

China clears import of frozen durian from Malaysia

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FROZEN whole durian from Malaysia has been cleared for import into China, reported China Press. The daily cited a statement issued by the General Administration of Customs of the People’s Republic of China (GACC) on May 30 which said that the imported fruits must comply with specific guidelines and standards. Among the requirements are that durian pulps must be kept ... Read More »