Thursday , April 26 2018
Breaking News


Malaysia 2018 rice imports forecast to drop to 900,000 tonnes


KUALA LUMPUR: The US Department of Agriculture (USDA) said Malaysia rice imports are forecasted to drop 10% to 900,000 tonnes in 2018 from one million tonnes in 2017 as the government reduces ending stocks to 400,000 tonnes in 2018 from 480,000 tonnes in the previous year. In its Grain and Feed Annual 2018 report, the USDA said Malaysia rice imports are seen ... Read More »

Malaysian economy seen to grow slower in June to August


KUALA LUMPUR:  Malaysia’s economy is expected to grow slower between June to August, based on its latest leading and coincident indices, the country’s statistics department said Tuesday. The department said the annual changes of leading index and coincident index in February were slower than the previous month. Concurrently, the diffusion index for coincident remained at 66.7 percent while leading index ... Read More »

Malaysia looks to widen tech exports in Germany


KUALA LUMPUR: MALAYSIA is expected to expand its exports to Germany by promoting local industrial technology players and products at Hannover Messe 2018, to be held from today till April 27. A group of Malaysian machinery products and services exporters will be participating in one of the world’s largest tech trade fairs to promote new areas of trade between the ... Read More »

Malaysian palm oil price edges up on stronger crude oil


KUALA LUMPUR: Malaysian palm oil futures made gains on Friday evening, their first in three sessions, tracking strength in crude oil prices and as the market saw profit taking in evening trade. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange rose 0.5 percent to 2,414 ringgit ($619.77) a tonne at the close of trade. The market is also up ... Read More »

Malaysia expects drop in biodiesel market share as Indonesia boosts exports


KUALA LUMPUR: Indonesian biodiesel makers are gearing up to boost exports after the European Union removed anti-dumping duties on shipments from some producers in the country, but rival suppliers in Malaysia are bracing for a slowdown in the wake of the move. After legal proceedings at the European Court of Justice, the EU last month removed duties on biodiesel imports ... Read More »

Income tax collection is key to Malaysia’s development


KUALA LUMPUR: The Inland Revenue Board (IRB) chief executive Datuk Seri Sabin Samitah has confirmed that effective January 2018, recalcitrant income tax defaulters are slapped with a 100 per cent penalty. This is more than double of the previous 45 per cent penalty on those who fail to pay their taxes or have submitted inaccurate tax report. Sabin explained that ... Read More »

Malaysia confirms GST relief for Chinese firm behind ECRL


KUALA LUMPUR ; The Royal Malaysian Customs Department confirmed granting China Communications Construction Sdn Bhd goods and services tax (GST) relief under Malaysia’s East Coast Rail Link (ECRL) project. The GST relief aims to reduce cost in implementing a project involving public interest, the department said. Customs director-general Datuk Seri Subromaniam Tholasy said in a press statement dated yesterday that ... Read More »

Malaysia March inflation rate seen up slightly at 1.6 percent year-on-yea


KUALA LUMPUR: Malaysia’s annual inflation rate is expected to edge up to 1.6 percent in March, accelerating slightly from the previous month, a Reuters poll showed. Inflation was likely kept in check by lower fuel prices in March, which offset higher food costs, economists in the survey said. The inflation rate was 1.4 percent in February, its slowest pace since ... Read More »

Palm falls for fifth straight session on Malaysian tax move


KUALA LUMPUR: Malaysian palm oil futures closed 1% lower, a fifth consecutive day of losses, after Malaysia said it would resume an export tax and on expectations of slowing demand growth, traders said on Friday. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was down 1% at 2,399 ringgit (US$618.54) a tonne at the ... Read More »

Two Malaysian men arrested with almost 5kg of heroin strapped to body and hidden in shoes at Hong Kong border point


KUALA LUMPUR: Two men from Malaysia were arrested on Wednesday night in Hong Kong after almost 5kg of suspected heroin was found strapped to their waists and hidden in their shoes. It follows the arrest of two other tourists from Malaysia, and the seizure of 1.4kg of suspected heroin, at Hong Kong International Airport on March 11. In the latest case, the ... Read More »

Malaysia’s palm oil stockpile declines 6pc in March


KUALA LUMPUR: Malaysia’s palm oil stockpile dropped by six per cent decline to 2.32 million tonnes last month. Kenanga Research said this was less than the market’s anticipated nine per cent drop to 2.27 million tonnes but above its 2.50 million tonnes forecast as Indian demand surged 26 per cent to 395,000 tonnes in anticipation of tax regime changes. “Production ... Read More »

Malaysia benefits from China’s reform and opening-up


KUALA LUMPUR: The whole world, including Malaysia, has been benefitting from China’s 40-year reform and opening-up policy, said Peter Wong Tung-shun, HSBC’s deputy chairman and chief executive, as well as the chairman of HSBC Bank Malaysia Berhad. Wong said in a statement that China’s GDP has achieved an average 10 percent annual growth rate over the last 40 years, which ... Read More »

Malaysia shares stuck in natural on Monday


KUALA LUMPUR: The Malaysia stock market has tracked higher in back-to-back trading days, collecting more than 20 points or 1.1 percent along the way. The Kuala Lumpur Composite Index remains just above the 1,835-point plateau although investors figure to cash in on Monday. The global forecast for the Asian markets if broadly negative thanks to escalating concerns over a trade ... Read More »

Malaysia to keep export tax on crude palm oil suspended


KUALA LUMPUR : Malaysia will continue to keep export duty on crude palm oil suspended until April-end as the trade-reliant nation seeks to halt further decline in price of the commodity, the Ministry of Plantation Industries and Commodities said Friday. However, the export tax could kick in earlier if domestic stockpile of palm oil falls to 1.6 million tons, the ... Read More »

Malaysia stocks poised to halt losing streak


KUALA LUMPUR: The Malaysia stock market has moved lower in three straight sessions, dropping more than 45 points or 2.5 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,815-point plateau although it’s expected to stop the bleeding on Thursday. The global forecast for the Asian markets is upbeat, with bargain hunting expected to boost ... Read More »

Traders expect more cuts in Malaysian log exports

Container ship in import,export port at the harbor with beautiful twilight sky

KUALA LUMPUR:Speculation is growing that Malaysia’s exports of tropical logs will decline further as logging volume continues to fall in a key region in the Southeast Asian country due to tougher environmental regulations and bad weather. The state of Sarawak, in northwestern Borneo, in July 2017 cut its export quota to 20% of total logging volume, down from 30% previously. ... Read More »

Malaysia shares tipped to open under pressure


KUALA LUMPUR: The Malaysia stock market headed south again on Monday, one session after it had halted the two-day slide in which it had eased 6 points or 0.3 percent. The Kuala Lumpur Composite Index now rests just beneath the 1,860-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is soft thanks ... Read More »

Malaysia March factory activity slumps to 5-mth low as output


KUALA LUMPUR:  Data from the Markit Malaysia Purchasing Managers’ Index for March.  Readings above 50.0 signal an improvement in business conditions while ones below indicate deterioration. Malaysia’s manufacturing activity slumped to five-month lows on weak demand, as production fell for the first time in eight months and new orders contracted for the second month. New export orders also shrank, hitting ... Read More »

Malaysia and Thailand to beef up fight against cross-border drug activities


KUALA LUMPUR: The Deputy Home Minister said that authorities would need to beef up their operation to cripple drug smuggling activities using the land links between Malaysia and Thailand. Nur Jazlan was asked to comment on the arrest of two Malaysians in Haatyai, Thailand three days ago for trying to smuggle 700kg of crystal methamphetamine worth millions of ringgit. According ... Read More »

Malaysia aims to inspire startups with e-commerce summit


KUALA LUMPUR: Over the past few years, has been ramping up efforts to attract more technology startups to the country and build a “digital economy”. Yasmin Mahmood, Chief Executive Officer of Government Agency Malaysia Digital Economy Corp (MDEC) told Bloombergearlier this month that the country’s policymakers are serious about developing the sector that created more than 170,000 new jobs and contributed 18.2 ... Read More »