Business

SINGAPORE, Positive outlook from analysts and rating agencies, supported by encouraging economic figures, signals that Malaysia is making great strides to reclaim its Asian Tiger status, said Finance Minister II Datuk Seri Amir Hamzah Azizan. The minister, on a working visit to Singapore, said he has also received great feedback regarding Malaysia’s strong economic performance during meetings with investors and analysts, who expressed optimism about the country’s future growth. ‘To reclaim the Asian Tiger status is not a pipe dream. The government and I are very confident that we can achieve this. ‘We are also seeing a lot of financial

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

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’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

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