Day: July 26, 2024

Kucingko Bhd made a striking debut on Bursa Malaysia’s ACE Market on Friday, opening at 80.5 sen — an impressive 168.33 per cent premium over its initial public offering (IPO) price of 30 sen. The company also announced plans to expand its workforce to 510 by 2027, up from the current 260. Its executive director See Chin Joo expressed optimism about the future of the two-dimensional (2D) animation production service company. ‘Our plan is to grow the company to 510 people. This trajectory can be used as guidance for our potential growth,’ See said during a virtual press conference following

Petroliam Nasional Bhd (Petronas) has signed production sharing contracts (PSCs) for three clusters of discovered resource opportunities (DRO) under the Malaysia bid round plus (MBR+) round one. These clusters are situated offshore Peninsular Malaysia. The small field asset (SFA) cluster PSC includes the Bubu, Bunga Tasbih and Enau fields, which have been awarded to Ping Petroleum Sdn Bhd and Duta Marine Sdn Bhd. Another SFA cluster PSC has been awarded for four fields: Puteri, Padang, Penara and North Lukut, to Jadestone Energy (PM) Inc. Additionally, the Pertang, Kenarong, Noring and Bedong fields have been granted to Hibiscus Oil and Gas

Malaysia’s terms of trade, which measures the country’s export prices relative to import prices, rose 1.3 per cent month-on-month to 116.3 points in June 2024, driven by higher mineral fuel prices, according to the Department of Statistics Malaysia (DoSM). Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the mineral fuels index rose by 5.4 per cent, followed by animal and vegetable oils and fats (+2.8 per cent) and food (+1.1 per cent). Year-on-year, Malaysia’s terms of trade improved by 5.4 per cent from 111.4 points in June 2023. Mohd Uzir said the export unit value index increased by 0.6

Penang, Johor, Selangor, Sarawak and Kuala Lumpur has dominated Malaysia’s exports accounting for 82.9 per cent of the total in June 2024, said chief statistician Datuk Seri Dr Mohd Uzir Mahidin. He said exports increased by RM2.1 billion or 1.7 per cent to RM126 billion in June 2024 compared to the same month of the previous year, with Penang remaining as the top exporter with 34.2 per cent share, followed by Johor (20.6 per cent), Selangor (17.3 per cent), Sarawak (6.5 per cent) and Kuala Lumpur (4.2 per cent). ‘The increase in exports was attributed to the higher exports in

Malaysia, especially the greater Kuala Lumpur, has the potential to be the business hub or regional headquarters for the Global South, said Deputy Investment, Trade and Industry Minister Liew Chin Tong. He noted that Malaysia boasts experienced business leaders and employees who have collaborated with Western, Japanese, and Korean industries for decades, in addition to having strong cultural connections with Arab, Chinese, Indian, and other international businesses. ‘Admittedly, we need to engage more with Africa and South America as a nation and through our businesses. ‘Not many countries are as culturally rich as Malaysia. We must leverage this strength to