Day: July 23, 2024

KUALA LUMPUR, A multi-year property upcycle has been set in motion driven by the rise in industrial developments, providing developers with a new growth avenue and alleviating pressure on residential developments, said Hong Leong Investment Bank Bhd (HLIB). The investment bank, in its research note, said the seed of the current rally was sown in 2018 with the start of the US-China trade war. “The trade war and rising geopolitical tensions led global manufacturers to relocate their base in Southeast Asian countries, including Malaysia. These steps were set to manage supply chain risks. “Malaysia, as a relatively neutral nation geopolitically,

KUALA LUMPUR, The establishment of Sarawak Petchem Sdn Bhd’s RM7 billion methanol complex is a defining milestone in helping to establish Malaysia as a leading methanol producer in the Asia-Pacific region, says Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. ‘This will not only advance Malaysia’s capabilities in the chemical industry, as envisaged by the Chemical Industry Roadmap (CIR) 2030, but also drive job creation and stimulate our economy by providing opportunities to surrounding industries as well as small and medium-sized enterprises,’ he said in a statement issued by the Malaysian Investment Development Authority (MIDA) today. MIDA

KUALA LUMPUR, Milliman, a premier global consulting and actuarial firm in its latest report revealed that embedded value (EV) and value of new business (VNB) increased across most Asian markets last year. This is according to its 2023 embedded value results: Asia report which examines the EV and VNB results disclosed by major multinational and domestic life insurers across Asia Pacific. According to a statement, the report also analyses and discusses the EV methodologies and assumptions used, and the impact of changes to key regulations in the region. Milliman Principal and Consulting Actuary, Heerak Basu said an overall increase in