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Terengganu Customs Dept first to achieve KPI target in tax collection


TERENGGANU: The Terengganu Royal Malaysian Customs Department (JKDM) has collected RM639 million in taxes as of last September, making it the first state customs department to achieve the target set for this year. Its director, Aidid Tajuddin, said based on the customs Key Performance Index (KPI), the target for the Terengganu office this year was RM565 million, which was achieved ... Read More »

Malaysia’s jobless rate at 3.4% in August


PETALING JAYA: Malaysia’s unemployment rate for August stood at 3.4%, dropped 0.1 percentage point compared with the previous month, according to the Department of Statistics. The better performance in the labour market was due to healthy expansions in both labour force and employment by 1.4% year-on-year (y-o-y) accordingly, coupled with a drop in unemployed persons from 519,000 in July to ... Read More »

Malaysia’s 2018 Budget may boost stock market


KUALA LUMPUR: Malaysia’s government spending could revive gains in the stock market that is South-east Asia’s worst performer despite receiving the most foreign investment in the region. Next year’s Budget, to be released on Oct 27, is likely to include an increase in cash handouts and infrastructure spending that will filter through to consumption stocks, builders and construction material suppliers, ... Read More »

Malaysia’s trade jumps 22.6% to RM1.163t in Jan-Aug 2017


KEPALA BATAS: Malaysia’s trade volume increased 22.6% to RM1.163 trillion during January-August 2017 period from the corresponding period a year ago, driven by Industry 4.0, with electrical and electronic products becoming the country’s largest exports. Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said the electrical and electronic sector continued to be the top choice for the ... Read More »

M’sia-Qatar trade relations date back 43 years

bilateral trade

PUTRAJAYA: Bilateral relations between Malaysia and Qatar, especially in the trade sector has not been affected despite the Middle Eastern nation facing a crisis with other Gulf Countries, as relations between the two countries had been well established for the past 43 years, said Prime Minister Datuk Seri Najib Abdul Razak. He said Malaysia was known as a country which ... Read More »

Malaysia raises Nov crude palm oil export tax to 6.5%


KUALA LUMPUR: Malaysia, the world’s second-largest palm oil producer after Indonesia, will increase its crude palm oil export tax to 6.5% in November, up from 6.0% the previous month, according to a government circular on Thursday. The Southeast Asian nation calculated a palm oil reference price of RM2,872.58 (US$681.59) per tonne for November. A price above RM2,250 incurs a tax. ... Read More »

Malaysia Aug factory output up 6.8% y/y, strongest in 2-1/2 yrs

factory output

KUALA LUMPUR: Malaysia’s industrial production in August expanded at its fastest pace since March 2015 and above industry expectations, supported by strong growth across all sectors. Factory output grew 6.8 percent from a year earlier in August, above the 5.9 percent annual rise forecast in a Reuters poll. Industrial output was up 6.1 percent in July. Factory output in August ... Read More »

Volvo Malaysia to expand export market in Asean


KUALA LUMPUR: Volvo Car Malaysia, which currently exports to Thailand and Taiwan, plans to add three more export destinations in Asean for all its locally assembled models, namely Indonesia, the Philippines and Vietnam. It has also earmarked Laos and Cambodia as potential new markets. The company said it anticipates its export volume, which stands at 1,800 now, to reach close ... Read More »

Malaysian exports to hit Rm700m


KUALA LUMPUR: Malaysia’s exports of fruit are expected to surpass last year’s Rm600m (US$142.2m) and reach Rm700m (US$165.9m), according to the Federal Agricultural Marketing Authority (Fama). Leading the way is durian exports, which Fama chairman Tan Sri Badruddin Amiruldin said would more than double to Rm150m during 2017 compared to last year. “We expect more durian orchards to produce high-quality ... Read More »

Malaysia palm oil stocks hit 2mn T in Sept

Malaysian palm oil

KUALA LUMPUR: Malaysia’s palm oil stocks rose for a third month in September to breach the 2-million-tonne mark for the first time in well over a year, boosted by weaker-than-forecast exports from the world’s No.2 producer of the commodity. Climbing inventories could drag on benchmark prices for the oil, used in everything from chocolate to shampoo. They stood around 2,733 ... Read More »

Malaysia export growth for 2018 to be sustained at 6.5%


KUALA LUMPUR: RHB Research Institute Sdn Bhd expects Malaysia’s export growth to be sustained at 6.5%. In an economic update today, the research house said exports grew at a robust 21.5% year-on-year (-y-o-y) in August, albeit slowing from 30.9% in the previous month. It said this was likely on the back of a waning low-base effect. “Given the strong performance ... Read More »

Malaysia exports surge more than expected in August


KUALA LUMPUR: Malaysia’s exports surged at a faster-than-expected pace in August, figures from the Department of Statistics showed Friday. Exports jumped 21.5 percent year-over-year in August, faster than the 20.0 percent spike economists had expected. Shipments of electrical and electronic products, which accounted for 37.8 percent of total exports, grew 20.1 percent annually in August. Exports of refined petroleum products ... Read More »

Malaysia’s August export growth at 21.5% y/y, above f’cast

growth in exports

KUALA LUMPUR: Malaysia’s exports in August grew to 21.5 percent from a year earlier, beating expectations on the back of manufacturing sector and liquefied natural gas (LNG) exports, but were slower than the previous month. The export growth exceeded the 19.2 percent forecast by a Reuters poll but was down from July’s 30.9 percent growth. The upward trend of manufactured ... Read More »

September palm oil reserves highest since Feb 2016

palm oil

KUALA LUMPUR: Palm oil stockpiles in Malaysia likely rose for a third month in September to the highest level since February 2016, lifted by increasing production in the world’s second-largest grower. Inventories advanced 3.1 percent to 2 million tonness from August, according to the median estimate of 11 planters, traders and analysts surveyed by Bloomberg. That would be the highest ... Read More »

Malaysia’s export growth seen slowing in August

growth logo

KUALA LUMPUR: Malaysia’s export growth is expected to slow down in August, a Reuters poll showed, after accelerating a month earlier. A poll of 11 economists saw a median forecast of 19.2 percent annual growth in August exports, a sharp dip from July’s 30.9 percent. Malaysia has seen double-digit growth in exports over the past eight months, peaking at 32.5 ... Read More »

Malaysia Kuala Lumpur Kepong expects exports to support palm oil price near term


KUALA LUMPUR: Kuala Lumpur Kepong, a Malaysian palm oil producer, expects strong exports to help support palm oil prices in the near term, its chief executive said Tuesday. Palm oil output is on the rise during the current peak season, Lee Oi Hian told reporters. The peak season usually runs from September to November. Palm oil futures for December delivery ... Read More »

Malaysia to maintain double-digit export growth this year

fast growth

KUALA LUMPUR: Malaysia’s trade export numbers this year are expected to remain in the double digit although there may be some slowing down towards the end of the year. International Trade and Industry Minister Mustapa Mohamed said the trade export numbers for August was expected to be strong. “The (August) numbers will be out in a few days. These numbers ... Read More »

Malaysian palm oil price drops for second day


KUALA LUMPUR: Malaysian palm oil futures were lower on Thursday evening, tracking the weakness in rival edible oilseeds and recording a second straight day of losses. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 1.5 percent to 2,705 ringgit ($639.48) a tonne at the close of trade. Traded volumes stood at 63,814 lots ... Read More »

Malaysia to continue to import rice


KUALA LUMPUR: Malaysia will continue to depend on rice imports as the country’s production of the grain is nearly 30% short from the three million metric tonnes (MT) self sufficiency level (SSL). Agriculture and Agrobased Industry Minister Datuk Seri Ahmad Shabery Cheek said the industry is expected to narrow the SSL gap from 72% presently to 80%, but the country ... Read More »

Malaysia’s rubber exports to top RM27b


PETALING JAYA: Malaysia’s rubber exports for this year is set to surpass RM27 billion, 10 per cent more than last year’s RM24.79 billion, thanks to higher global demand, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong. “We’re experiencing good rubber exports this year. This is due to higher global demand. So far, in the first seven months ... Read More »