BNM Expected To Hilke OPR Twice At 25BP Each: CGS-CIMB
CGS-CIMB has maintained Malaysia’s 2022F GDP growth forecast at 5.6%, with the expectation that BNM will hike OPR twice in 2022F at+25bp each. It has put 1Q22 growth at 5.1% YOY.
It said that for the monetary policy, it sees the dismal 4Q21 as temporary and will not affect the private consumption trajectory seen so far. To read the full story, click here.
Malaysia’s Trade-In January 2022 Expanded By 24.8% To RM203.5Billion In January
Malaysia’s trade-in January 2022 continued to be resilient with trade, exports, imports, and trade surplus registered highest monthly value for January, Senior Minister Of International Trade and Industry, said in a statement
It said that trade expanded by 24.8% to RM203.05 billion compared to January 2021. Exports rose by 23.5% to RM110.73 billion, the 6th successive month of double-digit expansion since August 2021. Imports increased by 26.4% to RM92.32 billion and trade surplus grew by 10.9% `to RM18.4 billion. To read the full story click here
Sunway Property Launches Campaign In Conjunction With High Growth Locations
Sunway Property has launched its first campaign for the year, “Warmest as One, with Sunway Property” especially to welcome new homeowners into its communities.
During the campaign period which is from now till February 28, buyers can look forward to its “Warmest Prosperity Deals” which include a low booking fee of RM 500 for some of Sunway Property’s latest launches and hottest-selling properties, a Chinese New Year lucky dip up to RM 8,888, a free kitchen cabinet and mystery gift. To read the full story click here
Exports of Rubber Products To Be Doubled By 2023
Malaysia’s overall exports of rubber and rubber products are expected to double, or at about RM140 billion by 2023. In 2021, the overall exports of rubber contributed RM71 billion to the nation’s coffer.
Datuk Hajah Zuraida Kamaruddin today launch the International Rubber Industry Convention and Expo 2022 (IRICE 2022) In Petaling Jaya and commented on the exports of rubber and rubber products to the press. To read the full story click here
Sime Darby 2Q Net Profit Down To RM345 Million From RM633 Million
Sime Darby Bhd reported a net profit of RM345 million for the second quarter ended 31 December 2021 (Q2 FY2022), compared with RM633 million in the previous financial year’s corresponding quarter, which benefitted from the one-off gain of RM272 million on the divestment of the Group’s stake in Tesco Malaysia.
In a statement, it said that the revenue for the quarter was down by 6.3 per cent at RM10.5 billion. Core net profit for Q2 FY2022 was 4.4 per cent lower at RM345 million, compared with RM361 million in the corresponding quarter last year, due largely to lower profits from the Industrial division’s China and Australasia operations. To read the full story click here
DHL Express Malaysia Expands Retail Portfolio
DHL Express recently expanded its Malaysian footprint with a new mobile ServicePoint and collaboration with Parcel365 to be its exclusive international shipping partner. The latest additions will boost the reach of its vast local network of 146 retail outlets and ServicePoints in helping businesses tap into the global marketplace. To read the full story click here
AirAsia X Reports Loss Of RM11.9 Million For The Q2 2022 Amidst Improvement In Revenue
AirAsia X reported a net operating loss of RM11.9 million on the back of RM119 million in revenue in the three months to December 2021.
Revenue was mostly attributed to cargo and charter operations seeing an increase of RM48.5 million or 68% over the previous quarter, and an increase of RM112 million over the same quarter of 2020 when only RM7.4 million of revenue was earned. AirAsia X says the substantial increase in revenue is reflective of a new focus on growing the cargo business, a strategy that will be combined with the carriage of passengers to ensure that all routes operated are profitable on an ongoing basis. To read the full story click here
MAHB January Passenger Traffic Rises to 4.8 Million Despite Omicron Worries
January passenger movements remained buoyant with 4.8 million passenger movements, despite the additional challenges from the unfolding of the Omicron wave which triggered temporary renewed travel restrictions and tightening of travel procedures to contain the spread of the new variant. To read the full story click here
Malaysia To Develop National Robotics Roadmap
Malaysia will develop the National Robotics Roadmap (NRR) in an effort to lift robotics technology into mainstream usage to boost national productivity, said Prime Minister Datuk Seri Ismail Sabri Yaakob, according to Bernama.
The roadmap, he said, might help minimise reliance on foreign labour and reduce foreign currency outflows. To read the full story click here.
