Business

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

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

Hibiscus Petroleum Bhd’s indirect wholly owned subsidiary Hibiscus Oil and Gas Malaysia Ltd (HML) has been awarded a 65 per cent participating interest and operatorship in a production sharing contract by Petronas. In a filing with Bursa Malaysia today, Hibiscus said the remaining participating interest is held by Petronas Carigali Sdn Bhd, while the effective date of the production sharing contract is July 1, 2024, with a contract duration of 24 years. ‘The production sharing contract comprises four discovered resource opportunities (DRO) in the Pertang, Kenarong, Noring and Bedong fields, located in shallow waters between 65 and 75 metres depth

National carmaker Proton has recently kicked off its RM253 million expansion project, adding new stamping facilities in Tanjong Malim, which will be known as Stamping E and F-Line. In a statement today, Proton said the project will increase the volume of parts stamping at Proton Tanjong Malim as the company prepares to relocate production of the Proton Saga from Shah Alam by 2026. The expansion is also expected to accommodate growing overall production volumes and any new models to be introduced in the near future. ‘This is the second planned expansion to Proton’s parts stamping capabilities in recent years after