Economists Raise Red Flag On Malaysia’s Food Security And Urge Prompt Action
Economists have expressed the dire need for Malaysia to start increasing food production in anticipation of a looming full-blown food crisis that is likely to besiege the world on account of the Russia-Ukraine war that is likely to continue to persist for a period.
They add that global supply chain disruptions, changing weather conditions, and the recent flood in the country have all led to a food shortage and if Malaysia does not bolster its local food production, it may be heading for a crisis.
Senior Fellow at the Malaysian Institute of Economic Research (MIER), Dr Sankaran Nambiar told Business Today says that in the short term, it can remove the anti-competitive practice. To read the full story click here
Maybank Q1 Revenue And Profit Dips, An Indicator Of Challenging Environment For Banks
Malayan Banking Bhd achieved a net profit of RM2.04 billion on the back of a turnover of RM11.907 billion for the first quarter ended March 31, 2022, from a net profit of RM2.392 billion on the back of a turnover of RM12.217 billion.
In a statement, Maybank chairman Tan Sri Zamzamzairani Mohd Isa, the escalation of geopolitical tensions, resultant market volatility as well as inflationary pressures somewhat dampened the positive impact of the resumption of economic activities and gradual reopening of international borders. To read the full story click here
Central Banks Are Raising Rates Across The Globe
Being late as a central bank means raising rates more aggressively and higher than would otherwise have needed to be the case.
Have the Fed and RBA been in some form of perverse short term popularity contest? To read the full story click here
Stagflation Would Heighten Risk For Fallen Angel APAC Corporates
Fitch Ratings sees 34 of 81 publicly rated APAC corporates with Foreign-Currency Issuer Default Ratings (IDRs) of ‘BBB-’ and ‘BBB’ facing ‘Elevated’ downgrade risk under a stagflation scenario.
This includes 23 of the 49 APAC corporates rated ‘BBB-’, which would fall out of the investment-grade range and become ‘fallen angels’ if downgraded. To read the full story click here
CNERGENZ Bhd Lists on ACE Market, Share Price Gains 4.31% to RM0.605 on Debut
CNERGENZ Bhd , an established electronics manufacturing solutions provider based in Penang, has made its debut on the ACE Market of Bursa Malaysia Securities Bhd under the Technology sector, opening at RM0.605 per share, which is a premium of RM0.025 or 4.31% above the IPO price of RM0.58 per share.
Chairman of CNERGENZ, Dato’ Azman bin Mahmud said“I am confident that CNERGENZ will continue its growth trajectory, enhancing its market presence and operations through its future expansion and development plans. To read the full story click here
Prime Minister To Stop Export Of 3.6 million Chickens Effective June 1
Exports of up to 3.6 million chickens will be stopped from June 1 until chicken prices and production stabilise said Prime Minister Datuk Seri Ismail Sabri Yaakob during the emergency Cabinet meeting held to discuss issues relating to rising food prices in the country.
The approach was agreed upon by the Cabinet as a short-term measure for the ongoing chicken shortage issue. To read the full story click here