Tag: Economy

The Malaysian Palm Oil Board reported a 6.56% decrease in palm oil stockpiles to 2.11 million tonnes in February 2023. Crude palm oil stocks fell 7.69% to 1.16 million tonnes, while production declined 9.35% to 1.25 million tonnes. Oleo-chemical exports increased 8.13% to 228,088 tonnes.

PETALING JAYA: As investors seek refuge in better yielding stocks amid recessionary fears, banks may notice an increase in interest. Despite the fact that financial...

Vietnam secured $3.1 billion in foreign direct investment in the first two months of 2023, marking a 38% decrease from last year. Singapore emerged as the largest investor, with manufacturing receiving the most significant portion of investments at $2.17 billion.

MBSB Bank and Prec Real Estate signed an MoU to support small businesses by introducing real-time retail payment platforms like DuitNow. The collaboration aims to reduce operational costs and simplify financial management for entrepreneurs in SACC Mall and PKNS Complex, encouraging digital payment adoption among SMEs.

Following Miti's approval for Tesla to import battery electric vehicles, several Malaysian EV-linked stocks experienced significant gains, including KESM Industries, Pentamaster, and Genetec Technology.

The new China-Laos-Thailand railway offers a faster, more cost-effective transportation solution, enabling efficient cold chain logistics for fresh produce. With 19 refrigerated containers and a 55-hour journey between Kunming and Bangkok, the train promises to enhance trade connectivity in Southeast Asia.

Bank Negara Malaysia Governor Tan Sri Nor Shamsiah Mohd Yunus reports that Malaysia is unlikely to enter a recession in 2023. Despite reduced foreign demand, domestic expenditure is expected to anchor economic growth, with the first quarter of 2023 showing more robust performance compared to the previous quarter.

After a 30-year absence, the United States is rebuilding its military presence in the Philippines, gaining access to additional military camps. This move is part of a broader strategy to create a strong defensive arc against China's increasing regional aggression, leveraging a long-standing alliance with strategic geographical significance.

Datuk Liew Chee Ming highlights potential for Chinese investors to support Malaysia's low-carbon development, particularly in high-tech industries like electric vehicle manufacturing, following China's economic recovery.

Asian financial markets show positive momentum as U.S. economic data boosts investor confidence. The Philippine Peso and Malaysian Ringgit strengthen, reflecting robust economic performance and improved regional market outlook. Both currencies experience significant gains in early January, driven by strong economic indicators and renewed investor optimism.