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Monday , May 22 2017
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Malaysia

Malaysian terror suspect nabbed during Interpol operation

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PETALING JAYA: A Malaysian suspected of foreign terror activity was among 17 arrested during an Interpol operation in South-East Asia. He has since been deported from Turkey to Kuala Lumpur. Dubbed Operation Sunbird III, police, immigration and maritime authorities from all 10 Asean countries screened passports at 35 land, air and sea border points against Interpol’s global databases. Carried out ... Read More »

Malaysia Q1 growth rises strongly on solid exports, domestic demand

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KUALA LUMPUR: Malaysia’s economy grew at a better-than-expected 5.6 percent the first quarter, easily beating expectations, as buoyant exports and solid domestic demand produced the fastest growth in two years. January-March growth announced by the central bank on Friday, was well above a Reuters poll forecast of 4.8 percent and the previous quarter’s 4.5 percent expansion. “We expect growth to ... Read More »

Malaysia’s economy expands faster at 5.6% in Q1

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KUALA LUMPUR: Malaysia’s economy grew at a faster pace of 5.6% in the first quarter ended March 31, 2017, exceeding the consensus of a 4.8% growth, powered by the manufacturing and services sectors. Bank Negara Malaysia (BNM) said on Friday that growth, on the expenditure side, was underpinned by an increase in private consumption of 6.6%, investments at 12% and ... Read More »

Malaysia’s Northport eyes boost in connections in China after signing a MoU

Malaysia's Northport

KUALA LUMPUR: Malaysia’s Northport is set to boost its connections in China after signing a memorandum of understanding (MoU) with the China unit of fellow Malaysian conglomerate Sime Darby’s Weifang Sime Darby Port to develop a sister port relationship, local media reported. The agreement will see both ports cooperate in port management and help in bilateral halal trade shipments. Weifang ... Read More »

RAM expects easement in cabotage policy relaxation

RAM Rating Malaysia

KUALA LUMPUR: RAM Rating Services Bhd expects the government’s move to ease the cabotage policy to have a minimal immediate impact on port activity in Malaysia, although the position of local shipping carriers may come under competitive pressure. The policy, which requires all domestic transshipment of goods to be made using Malaysian ships, will be abolished from June 1. “From ... Read More »

Terengganu Customs seizes 1.2 mln sticks of ciggies

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KUALA TERENGANU: Terengganu Customs Department uncovered a cigarette smuggling syndicate following the discovery of a van loaded with 1.2 million sticks of cigarettes in Kampung Petaling, Kuala Nerus. Its director Aidid Tajuddin said further inspection on the abandoned one-tonne van at 10am Tuesday led to the discovery of 6,000 cartons of contraband cigarettes bearing the brands ”Red” and ”Green League” ... Read More »

Customs seizes rare tortoises worth $277,000 at KLIA

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KUALA LUMPUR: Malaysian Customs officials have seized 330 exotic tortoises worth an estimated US$277,000 after smugglers attempted to bring the creatures through Kuala Lumpur International Airport (KLIA). Five rare Ploughshare tortoises and 325 Indian Star tortoises were packed in several boxes labelled ‘stones.’ The seizure is worth an estimated MYR1.2 million, as Ploughshare tortoises can be sold in Malaysia for ... Read More »

Malaysia’s Petronas gets flexible on LNG contracts as supply builds

Malaysian Petronas

KUALA LUMPUR: Malaysia’s state energy firm Petronas may try shorter-term LNG contracts and smaller cargo sizes to entice buyers, senior company officials said, at a time when it has major contracts coming up for renewal and the market is awash in supply. The liquefied natural gas (LNG) marketing drive at Petroliam Nasional Berhad, or Petronas, coincides with rising production after ... Read More »

Record haul of pangolin scales seized in Malaysia worth US$2m

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KUALA LUMPUR: Malaysia has seized more than US$2 million worth of scales from pangolins, the world’s most poached animal, at Kuala Lumpur airport in the largest haul seen in the country, officials said on Monday. Customs officials acting on a tip-off discovered 712 kilogram (1,570 lb) of scales at the airport’s cargo warehouse, where they had been shipped in 18 ... Read More »

Malaysian Halal food exports likely to grow: Official

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KUALA LUMPUR: Malaysian local exporters of halal products will be gaining access to more markets in Asia, Europe and Africa andat a lower cost as a hub-to-hub project is underway to facilitate the movement of such goods from Northport to ports in China, Belgium and Dubai. Halal Industry Development Corp (HDC) chief executive officer Datuk Seri Jamil Bidin said a ... Read More »

Malaysia’s exports hit record high in March

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KUALA LUMPUR: Malaysia’s exports surged to a record high in March, thanks to stronger demand for its manufactured goods and commodities, according to the country’s ministry of trade on Friday. The ministry’s data showed that shipments in March grew 24% from a year earlier to 82.63 billion Ringgit ($19 billion), underpinned by higher demand for manufactured goods, which accounted for ... Read More »

Malaysian trade surplus at RM5.4 billion in March

Trade Surplus Grows

KUALA LUMPUR: Malaysian external trade registered double digit growth in the month of March compared to last year, according to data released by Malaysian statistics department. On seasonally adjusted terms, exports decreased RM778.2 million or 1% to RM79.0 billion compared with the previous month, While imports increased RM5.0 billion or 6.8% to RM78.3 billion in comparison with last month. A ... Read More »

Terengganu Customs Department tightens security measures

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TERENGGANU: The Terengganu Royal Malaysian Customs Department will continue tightening its security system at the airport to prevent the smuggling of prohibited goods here through air routes. Its director Aidid Tajuddin said attention was given to various aspects including tighter surveillance and physical checks on suspicious passengers. He said the department would also station uniformed and special tactical staff near ... Read More »

Malaysia export growth likely slowed in March

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KUALA LUMPUR: Malaysia’s export growth likely slowed in March, though it will still be strong on the back of improving shipments to major trade partners, economists said. Exports likely rose 20.5% in March from a year earlier, according to the median forecast from a poll of seven economists. That compares with February’s 26.5% rise–the fastest annual pace in nearly seven ... Read More »

Malaysia stacking up MMC’s ports against Westports

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KUALA LUMPUR: Earlier this month, when MMC Corp Bhd announced that it was buying the remaining 51% of Penang Port Sdn Bhd it does not own for RM220 million from parent Seaport Terminal (Johore) Sdn Bhd, talk of an impending initial public offering — that of MMC’s port and logistics arm — resurfaced. It has got the investing fraternity wondering ... Read More »

Cosco Shipping Holdings back to profit in Q1

2016-02-24 China Cosco Shipping Group eyes top tier - photo credit Chris Mackey

KUALA LUMPUR: Cosco Shipping Holdings has posted a profit for the first quarter, reversing from a loss-making position in the year-ago period, thanks to an improved container shipping market and income from investment. Net profit for the group was recorded at RMB270.14m ($39.17m) as against the loss of RMB4.46bn in the same period of 2016. The profit was aided by ... Read More »

Malaysia, Indonesia to lead defence against EU restrictions

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MANILA: Malaysia and Indonesia, the world’s top palm oil producers, will lead Asean’s defence against the European Union’s (EU) move to restrict imports of the commodity over claims that the industry is causing deforestation. Prime Minister Datuk Seri Najib Razak said this latest threat would affect the livelihood of close to three million smallholders in the two countries (600,000 in ... Read More »

Stacking up MMC’s ports against Westports

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KUALA LUMPUR: Earlier, when MMC Corp Bhd announced that it was buying the remaining 51% of Penang Port Sdn Bhd it does not own for RM220 million from parent Seaport Terminal (Johore) Sdn Bhd, talk of an impending initial public offering resurfaced. It has got the investing fraternity wondering whether the IPO will take the shine off Westports Holdings Bhd, ... Read More »

Norway optimistic of establishing FTA with Malaysia

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KUALA LUMPUR: Norway is optimistic of establishing a free-trade agreement (FTA) with Malaysia through the European Free-Trade Association (EFTA) by 2018. Ambassador of Norway to Malaysia Hans Ola Urstad (pix) said Norway had just adopted an FTA with the Philippines and was negotiating a similar one with Malaysia through the EFTA, consisting of Iceland, Norway, Switzerland and Liechtenstein. “The eighth ... Read More »

Digi Malaysia’s Q1 revenue grows 12%

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KUALA LUMPUR: Digi Malaysia reported first-quarter revenue growth of 12.1 percent year-on-year. Service revenue went down 5.6 percent to MYR 1.4 billion. EBITDA grew to 45 percent margin or MYR 711 million, up by 1 percent year-on-year. Digi ended the quarter with 11.8 million subscribers where 8 million are active internet subscribers. Profit after tax reached MYR 373 million or ... Read More »