Business

KUALA LUMPUR, A multi-year property upcycle has been set in motion driven by the rise in industrial developments, providing developers with a new growth avenue and alleviating pressure on residential developments, said Hong Leong Investment Bank Bhd (HLIB). The investment bank, in its research note, said the seed of the current rally was sown in 2018 with the start of the US-China trade war. “The trade war and rising geopolitical tensions led global manufacturers to relocate their base in Southeast Asian countries, including Malaysia. These steps were set to manage supply chain risks. “Malaysia, as a relatively neutral nation geopolitically,

KUALA LUMPUR, The ringgit is expected to end firmer at 4.60 against the US dollar by the end of this year, said Maybank Investment Bank Bhd (Maybank IB). Its group chief economist, Suhaimi Ilias said the forecast of a stronger ringgit follows the US Federal Reserve’s (Fed) interest rate cut expectation and Bank Negara Malaysia’s (BNM) decision to maintain the overnight policy rate (OPR) at 3.00 per cent. He said the Fed is expected to start cutting interest rates as soon as September and there will be three rates cut during the Federal Open Market Committee meeting in September, November

KUALA LUMPUR, In line with the Public Finance and Fiscal Responsibility Act, the government is committed to reducing its borrowings in terms of the debt-to-gross domestic product (GDP) ratio to 60 per cent within a five-year timeframe from the current 64 per cent to ensure a stronger and more sustainable fiscal position for the nation, said Treasury Secretary-General Datuk Johan Mahmood Merican. He said the government has already started reducing the annual net borrowings gradually, from about RM100 billion for both 2021 and 2022 to RM93 billion in 2023, and is targeting RM86 billion in 2024. This is being achieved

KUALA LUMPUR, Xsolla, a global video game commerce company, has announced the grand opening of the Xsolla Greater China Region office at Chaoyang District, signifying a renewed commitment to enhancing and growing the video game industry in China and worldwide. Xsolla Chief Marketing Officer and Chief Growth Officer, Berkley Egenes said the establishment of its Beijing office is a testament to the company’s belief in the potential of local game developers and their creations on the global stage. ‘This initiative underscores our dedication to empowering the gaming community, ensuring our partners have the tools and resources to succeed in an

KUALA LUMPUR, Nippon Kinzoku Co Ltd has named and registered the trademark “Fine Profile” for its cold profile rolled products, which can be used for various metals from ferrous to nonferrous, by combining its proprietary cold rolling technology and specialised equipment. According to a statement, Fine Profile is the company’s original new product that contributes to customers’ manufacturing cost reduction and yield improvement as an alternative to various machining processes such as cutting and grinding. With aim to expand sales of this product in the future, it features cost reduction of metal processing, resource saving, energy saving; stabilisation of quality;