Business

KUALA LUMPUR, HSBC has forecast Malaysia’s gross domestic product (GDP) growth at 4.5 per cent for 2024, slightly above consensus with an upside risk. Its co-head of Global Research Asia and chief Asia economist, Frederic Neumann, said the forecast was supported by the country’s robust economic performance and the incoming inflows of foreign investments. ‘We also expect a pickup in trade over the second half (2H) of this year, benefitting mainly from consumer electronics,’ he said in the HSBC 2H 2024 Asian Outlook webinar today. Neumann said Southeast Asian countries, including Malaysia, have continued to perform well in their economies,

KUALA LUMPUR, The Ministry of Plantation and Commodities has urged the Malaysian Rubber Board (MRB) to formulate a consolidation programme to develop abandoned rubber plantations to reduce the nation’s dependency on rubber imports. Its Minister, Datuk Seri Johari Abdul Ghani, said to date, the ministry has identified around 420,000 hectares of abandoned rubber plantations nationwide, with a production potential of over 550,000 tonnes of rubber. “We have identified all these abandoned rubber plantations. However, there are two problems; the smallholders do not want to give up their plantations, and the rubber plantations are overgrown with weeds and bushes. ‘If we

KUALA LUMPUR, Global property consultancy Knight Frank has ‘a positive forecast’ for Kuala Lumpur’s prime office rent over the next 12 months, according to its Asia-Pacific (APAC) Prime Office Rental Index for the second quarter of 2024 (2Q 2024). In a statement today, it said the data shows a 2.6 per cent year-on-year (y-o-y) rise in rents, alongside a 0.2 per cent quarterly rise, which suggests ‘a stable and healthy outlook for the market.’ ‘The forecast suggests that the office rental market in Kuala Lumpur is expected to remain stable, reflecting a balanced environment and this stability is a positive

SUBANG, AirAsia has expanded its operations in Malaysia to the Sultan Abdul Aziz Shah Airport (Subang Airport) with two domestic destinations namely Kuching, Sarawak and Kota Kinabalu, Sabah starting from Aug 30, 2024. It marks a significant milestone in the airline’s history after AirAsia started operations 23 years ago at Subang Airport. AirAsia Malaysia managing director Datuk Captain Fareh Mazputra said the expansion complements its operations at its main hub at the KL International Airport (Terminal 2), solidifying its position as the nation’s biggest airline in terms of connectivity and capacity. ‘The decision to operate at Subang Airport as our

KUALA LUMPUR, The Ministry of Plantation and Commodities has urged the Malaysian Rubber Board (MRB) to formulate a consolidation programme to develop abandoned rubber plantations to reduce the nation’s dependency on rubber imports. Its Minister, Datuk Seri Johari Abdul Ghani, said to date, the ministry has identified around 420,000 hectares of abandoned rubber plantations nationwide, with a production potential of over 550,000 tonnes of rubber. “We have identified all these abandoned rubber plantations. However, there are two problems; the smallholders do not want to give up their plantations, and the rubber plantations are overgrown with weeds and bushes. ‘If we