Year: 2024

KUALA LUMPUR, The Malaysian Investment Development Authority (MIDA) congratulates Sarawak Petchem Sdn. Bhd.’s (Sarawak Petchem) for the launch of its cutting-edge Methanol Complex in Tanjung Kidurong, Bintulu, Sarawak. This significant project, with an annual production capacity of 1,750,000 metric tonnes, solidifies the company’s position as Malaysia’s second-largest methanol producer after PETRONAS Chemical. With the commissioning of Sarawak Petchem’s methanol plant, Malaysia has emerged as the leading methanol producer in the Asia Pacific region. The availability of methanol in Malaysia, particularly in Sarawak, is expected to drive further investments and stimulate the production of other downstream products. Methanol is a critical

KUALA LUMPUR, Her Majesty Raja Zarith Sofiah, Queen of Malaysia, paid a visit to the Orang Asli Hospital Gombak (HOAG) here today. The visit was part of the events commemorating the installation of His Majesty Sultan Ibrahim as the 17th King of Malaysia, a ceremony steeped in customs and traditions that took place at Istana Negara last Saturday. Raja Zarith Sofiah was welcomed upon arrival at 9.53 am by the Prime Minister’s wife, Datuk Seri Dr Wan Azizah Wan Ismail, and the wife of the Selangor Menteri Besar, Datin Seri Masdiana Muhamad. Also in attendance were Communications Minister Fahmi Fadzil,

MUMBAI, Milliman, a premier global consulting and actuarial firm, today released its annual 2023 embedded value results: Asia report which includes 2023 embedded value (EV) and value of new business (VNB) results disclosed by major multinational and domestic life insurers across Asia Pacific. The report also analyses and discusses the EV methodologies and assumptions used, and the impact of changes to key regulations in the region. ‘An overall increase in EV and VNB across the region in 2023 reflects the bounce back of many economies,’ said Milliman Principal and Consulting Actuary Heerak Basu. ‘With the easing of Covid restrictions and

MANILA: Malacañang on Tuesday afternoon suspended government work and classes at all levels in Metro Manila due to inclement weather brought by the southwest monsoon (habagat) and Typhoon Carina. Executive Secretary Lucas Bersamin, by the authority of President Ferdinand R. Marcos Jr., signed Memorandum Circular 57, suspending government work and classes effective 2 p.m. However, those agencies whose functions involve the delivery of basic and health services, preparedness and response to disasters and calamities, and the performance of other vital services shall continue operations and render the necessary services. ‘The suspension of work for private companies and offices are left

MANILA: The government has allocated PHP42 billion for 2025 to further strengthen the country’s irrigation systems, the Department of Budget and Management (DBM) said Tuesday. Speaking at the post-State of the Nation Address discussions in Pasay City, Budget Secretary Amenah Pangandaman said the allocation is in line with the priority thrust of the administration of President Ferdinand R. Marcos Jr. of achieving food security by strengthening the agriculture sector. ‘As [President Marcos] mentioned in his SONA, we are strengthening our irrigation system nationwide. We have allocated PHP42 billion for our irrigation system nationwide next year,’ Pangandaman said. The irrigation budget