Business

SK Hynix will invest 15 trillion won ($10.9 billion) to build a new semiconductor manufacturing plant called M15X in Cheongju, South Korea. Construction begins in October 2023, with completion expected in early 2025, marking a significant expansion of the company's memory chip production capabilities.

Malaysia's palm oil inventories climbed 14.5% to 2.03 million tonnes by end-August, reaching a two-year high. Production increased 8% to 1.7 million tonnes, driven by favorable rainfall and moisture conditions. Experts predict September production growth might slow down as crop yields stabilize.

Maybank Investment Bank has been added as a user and supplier under Bursa Malaysia's Islamic Securities Selling and Buying — Negotiated Transaction (ISSBNT) framework, enabling Shariah-compliant securities trading while supporting risk management for market participants.

EcoWorld Development Group has signed an MoU with Public Bank to provide special end-financing packages for green-certified properties. The Green 5Home and Green Swift Plans offer preferential pricing and fast approval for sustainable residential and commercial projects, supporting environmental initiatives.

Standard Chartered Malaysia introduces SmartStocks, a revolutionary online share trading platform allowing Malaysian investors to trade across 12 exchanges in seven global markets through a single account. The platform offers competitive brokerage rates, addressing challenges faced by retail investors seeking international market access.

Malaysia has secured RM123.3 billion in approved investments from January to June 2022, with foreign direct investments contributing 70.9% of the total. The services sector led the investment landscape, accounting for 63.3% of approved projects and expected to create 57,771 job opportunities.

SpaceX successfully launched three international entrepreneurs to the International Space Station, marking a milestone in commercial space travel. Passengers from the US, Canada, and Israel paid $55 million each for a week-long orbital experience, demonstrating the growing market for private space exploration.

Guyana has granted ExxonMobil permission to develop its fourth offshore oil field, the $10 billion Yellowtail Project. Expected to produce up to 250,000 barrels per day, the project will come onstream by 2025, adding to the company's existing Liza and Payara fields.

The U.S. Trade Representative has reinstated 352 product exclusions from Section 301 tariffs on Chinese imports, retroactively effective from October 2021. The exclusions cover industrial components, automotive parts, chemicals, and consumer goods previously subject to 7.5% to 25% tariffs under the Trump administration.

Amazon has completed its $8.5 billion acquisition of MGM Studios, strategically positioning itself to strengthen its streaming service. The deal follows European regulatory approval and aims to boost Amazon's content library and competitiveness in the entertainment streaming market.