Wednesday , September 18 2019
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Malaysia

Scope for growth in Malaysia renewables: report

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THERE is increasing scope for Malaysia’s non-hydro renewable energy sector — particularly solar energy — to grow, with strengthening government support and rising investor interest in the past two years, Fitch Solutions Macro Research said in a Sept 13 report, identifying “substantial untapped … potential” in that area. Government support The report noted recent and upcoming moves that increase government ... Read More »

Iban communities lose bid to review ruling on native customs

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PUTRAJAYA: The Federal Court today rejected a bid by Iban communities from two villages in Sarawak to review its ruling that their native custom has no force of law in the state. In a 4-1 majority decision by the five-member bench, it held that there was no basis for a new panel of the Federal Court to review the earlier ... Read More »

Sri Lanka mulls ‘digital free trade zone’ to help exporters, like China, Malaysia

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Sri Lanka plans to set up a ‘digital free trade zone’ to help exporters, especially small businesses, cut red tape and connect to global markets, like similar initiatives by China and Malaysia. “Digitally connecting companies to global value chains is an important aspect of the government’s digital economy strategy,” said M. C. L. Rodrigo, secretary to the Ministry of Digital ... Read More »

Malaysia, Cambodia to sign DTA, strengthen bilateral trade ties

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PHNOM PENH: Prime Minister Tun Dr Mahathir Mohamad will witness the signing of the Double Taxation Avoidance Agreement (DTA), which will further strengthen the bilateral trade ties between Malaysia and Cambodia, during his official three-day visit to the country from Sept 2 to 4. The inking of the DTA is one of the main agenda of Mahathir’s visit to Cambodia, ... Read More »

Malaysian businesses remain upbeat in 3rd quarter: official survey

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KUALA LUMPUR: Malaysian businesses remain optimistic on their business performance for the third quarter, according to an official survey disclosed on Thursday. Malaysian Statistics Department said in a statement that the confidence indicator for Malaysian businesses increased slightly in the third quarter to 3.1 percent as against to 2.8 percent recorded in preceding quarter. Within the surveyed sectors, services sector ... Read More »

China’s July crude oil imports from Malaysia near record: customs

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SINGAPORE/BEIJING : China’s crude oil imports from Malaysia stood near record levels in July, customs data showed, with traders and a tanker-tracking analyst citing oil either transshipped from Venezuela or blended with Venezuelan crude for the unusual growth. Crude imports from Malaysia rose to 1.35 million tonnes last month, more than double from a year earlier, data from China’s General ... Read More »

Customs Service Cracks Down on Illegal Foreign Exchange Activity in Malaysia

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The Korea Customs Service has cracked down on 146 individuals who purchased a country house in Johor Bahru, Malaysia and other costly real estate using an illegal foreign exchange method commonly known as “hwanchigi.” The individuals purchased stores, condominiums, and country houses in Johor Bahru without reporting the transactions to customs. One of the individuals is known to have masterminded ... Read More »

Biggest drug bust in Malaysian history: Almost 4 tonnes seized worth over half a billion ringgit

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PETALING JAYA: More than a half a billion ringgit worth of ketamine and cocaine have been seized in a joint operation between Bukit Aman and the Customs Department at Pusat Perdagangan Alam Jaya, Puncak Alam. Said to be the biggest drug bust to date, over three tonnes of cocaine and half a ton of ketamine were seized during the joint ... Read More »

Activists urge U.S. customs to ban palm oil imports from Malaysia’s FGV

Oil pumps in operation at an oilfield near central Los Angeles on February 02, 2011.  World oil prices recently rallied close to $100 per barrel, as traders absorbed impressive fourth-quarter US economic growth and fretted over worsening political turmoil in Egypt. Most other commodity markets also won support this week from news that the US economic recovery picked up speed in the last three months of 2010, stoking hopes of strengthening demand for raw materials. The US economy grew at its fastest clip in five years in 2010, the Commerce Department reported, as the country bounced back from recession and fears of a double-dip recession ebbed.                                        AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)

KUALA LUMPUR : A group of non-governmental organizations is calling on U.S. authorities to ban imports of palm oil from Malaysia’s FGV Holdings and investigate the company, citing concerns of forced labor and human trafficking on its plantations. U.S.-based NGOs International Labor Rights Forum (ILRF), Rainforest Action Network (RAN) and SumOfUs said they had filed a complaint with the U.S. ... Read More »

Malaysia Charges Goldman Sachs Executives in 1MDB Scandal

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Malaysia filed criminal charges on Friday against a top executive at Goldman Sachs, a former executive who now works for Alibaba of China and others, as it intensifies pressure on the Wall Street bank in a scandal involving the misuse of billions of dollars in government funds. The charges escalate the legal challenges for Goldman, which has come under scrutiny ... Read More »

Singapore, Malaysia among exporters most at risk from US-China trade war: Fitch Solutions

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SINGAPORE – Asian export-reliant economies such as Singapore, Taiwan, South Korea, Vietnam and Malaysia will be the hardest hit by waning demand for Chinese-made products and supply chain disruptions amid escalating US-China trade tensions, Fitch Solutions Macro Research said on Tuesday (Aug 6). This is because many of these exporters are deeply integrated with China’s supply chains, supplying electronics, parts ... Read More »

Malaysia to impose departure tax of between $2.65 and $50 on airline travellers from Sept 1

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KUALA LUMPUR : all travellers flying out of Malaysia will have to pay a departure tax of between RM8 and RM150 (S$2.65 and S$50), Malaysian media reported on Friday (Aug 2). The Malay Mail Online website reported that the departure levy rates were set out by Finance Minister Lim Guan Eng in a ministerial order gazetted by the Malaysian government ... Read More »

US imports more samarium-cobalt magnets from Malaysia and Philippines

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BEIJING: China’s exports of rare earth magnets to the United States fell 3.9% in June from the previous month, customs data showed on Saturday, as concerns persist that Beijing will curb supply of rare earth products as part of its trade war with Washington. The latest data came after U.S. President Donald Trump on Monday told the Pentagon to find ... Read More »

Malaysia’s Border Problems: Human Trafficking, Drugs, Illegal Immigrants, Piracy

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If land and sea borders are the nation’s doors, Malaysia’s doors seem wide open. Terrorism, piracy, smuggling, narcotics trade, human trafficking, and illegal immigrants are all major problems that need to be tackled at the country’s boundaries. The country, for instance, has taken in tens, perhaps hundreds of thousands of Indonesian Muslims who have crossed the border into East Malaysia ... Read More »

China Mobile launches i-Solutions for Malaysia

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KUALA LUMPUR: China Mobile International (CMI) has launched its global information and communications technology services, i-Solutions, which offers a seamless, borderless digital connectivity solution for the Malaysian market. CMI is the international operation unit of China’s telecommunication giant, China Mobile Ltd. The company said it aimed to introduce i-Solutions to the government, retail and education sectors in the country. It ... Read More »

Suzuki cars to make swift return?

New automobiles manufactured by Suzuki Motor Corp. stand on the dockside in Grimsby, U.K., on Friday, March 8, 2019. Demand for automobile in Europe fizzled late in 2018 due to a combination of emissions-testing bottlenecks and economic headwinds, signaling an abrupt end to years of robust growth. Photographer: Darren Staples/Bloomberg

KUALA LUMPUR: Tan Sri Vincent Tan’s Berjaya Group is poised to bring back Suzuki, the car brand that exited the Malaysian market some three years ago, say sources. He was expected to fly to Japan early next month to sign a distributorship agreement with Suzuki Motor Corp, they said. Suzuki chairman Osamu Suzuki is expected to witness the signing at ... Read More »

Malaysia can exceed RM1 trillion total exports target

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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

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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

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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 »