Day: July 17, 2024

KUALA LUMPUR, Kolmar Korea has appointed a new head for its North American operations and a Global Chief Commercial Officer (GCCO) to speed up its global expansion in the cosmetics industry to its North American subsidiary. With the plan to build its second United States (US) plant early next year, the company has also set up a strategic framework that integrates production, sales, and research and development (RandD) to better penetrate the local market. ‘This appointment underscores our commitment to gaining new momentum in the North American market by placing industry experts at the forefront. Kolmar Korea will focus on

KUALA LUMPUR, Standard Chartered (Stanchart) has maintained Malaysia’s gross domestic product (GDP) growth for 2024 at 4.8 per cent, aligned with Bank Negara Malaysia’s projection of four to five per cent. Its head of Managed Investments and Advisory, Malaysia, Ng Shin Seong said this projection, however, has not taken into consideration the future measures on subsidy rationalisation. “On the fuel subsidy (diesel), we think it is a very targeted approach and the people that needs help will get some help back. “The subsidy rationalisation (on diesel) will help the government’s fiscal position and we think it is an upside for

KUALA LUMPUR, Malaysia’s banking sector is likely to stand firm against economic headwinds with the sector’s asset quality closely correlated to employment given its large share of household loans, according to the latest SandP Global Ratings midyear outlook 2024 report ‘Searching for calmer waters’ released today. In a country-by-country report on global banks, the credit ratings provider said ‘high household leverage poses some risk’ although stable employment and adequate household financial assets are mitigating factors. It also said banks have material exposure to the real estate sector and construction, at about eight per cent of total loans. ‘Oversupply in the