Pawnbroker Pappajack Enroute To Listing Aims To Raise RM50.10 Million For Expansion
Pappajack Bhd, a company involved in licensed pawnbroking services enroute to listing on ACE Market market is offering 167 million IPO shares at the issue price of RM0.30 per share.
The company which launched its prospectus today as the first licensed pawnbroking company to be listed on the ACE Market said that 33.40 million shares will be available for application by the Malaysian public; 6.68 million shares will be available for application by eligible persons; 83.50 million shares will be available for private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry, and 43.42 million shares will be available for private placement to selected investors. To read the full story click here
Exports of Malaysian Rubber And Rubber Products Remain Robust With Record High In 2021
The rubber and Rubber products sector in 2021 improved performance with the total export reaching a record high of RM71 billion, increased by 46.3% compared to RM48.5 billion in 2020.
Malaysian Rubber Council (MRC) in a statement said that In 2021, latex goods contributed 91.8% to the total rubber products exports with rubber gloves remaining the leader of the pack, contributing 88.9% to the total rubber products export at RM54.8 billion, an increase of 55.4% over the same period in 2020 at RM35.3 billion. To read the full story click here
Capital A Turns Down Danajamin RM500 Million Club Facility, Cites Unacceptable Terms
Capital A announced it will be turning down the approved RM500 million Danajamin Nasional Berhad Club Facility due to unagreeable terms listed on the offer.
This comes when back in October then AirAsia issued a press statement that it had received approval for the said loan that it planned to use for the airline operating capital. Under the agreement, Danajamin Nasional Berhad would give 80% guarantee under the Danajamin Prihatin Guarantee Scheme for the Club Facility. To read the full story click here
Malaysia To Cough Out RM28 Billion from RM11 Bilion In Subsidy If Petrol Price Remains
The government is absorbing the 10 fold in petrol, diesel, and liquified gas price to the tune of RM2 billion in January following the increase in prices due to the Russian-Ukraine conflict said Finance Minister, Tengku Zafrul.
Zafrul expects the subsidy to hit RM28 billion from RM11 billion in 2021 if the price remains above US$100 throughout the year, the current crude oil price is at US$113. Malaysia despite being an oil-producing nation will be susceptible to price hikes as the country heavily subsidises local consumption of the commodity. To read the full story click here
RON97 Surges To RM3.75 Up RM0.30 sen
It is inevitable with oil prices hitting an all-time high, the Malaysian government could only do so much to subsidise the petrol prices in the country.
Based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula, the retail prices of petroleum products from 10 March 2022 to 16 March 2022 are fixed as follows. To read the full story click here.
Malaysia Attracted Investments Worth RM306.5 billion in 2021
Malaysia gained new economic growth with RM306.5 billion worth of approved investments in the manufacturing, services and primary sectors in 2021.
The country remained an attractive investment destination for global and regional business expansion as total Foreign Direct Investment (FDI) and Domestic Direct Investment (DDI) numbers exceeded expectations with stellar performance in 2021, increasing to 83.1 per cent from the achievement attained 2020. To read the full story click here
Fuel Subsidy Rationalisation Can Elevate Everybody’s Woes
Reeling from the pandemic, the country is faced with another crisis on the horizon, the Russian invasion of Ukraine and the effect on the global economy including Malaysia. The Omicron Covid-19 variant in Malaysia is not expected to pose a major threat to GDP growth if the country does not resort to imposing a nationwide total lockdown as it did in the middle of last year.
However, as of March 5, 2022, it was announced that a total of 32, of 209 cases were reported with active cases standing at 305,01, up 25.4% compared to 14 days ago. Health experts say that with large numbers of people vaccinated, the risks that the pandemic will have on the people and the economy is minimal. To read the full story click here
