KUALA LUMPUR (Sept 14): Malaysia’s machinery and equipment (M&E) exports reached RM34.4 billion in the first seven months of 2022, an increase of 25.5% from the corresponding period last year, said the Malaysia External Trade Development Corporation (MATRADE). MATRADE deputy chief executive officer (export acceleration) Sharimahton Mat Saleh said M&E is an important industry to Malaysia and the seventh largest export sector, with a value of RM49.9 billion, making up 4% of Malaysia’s total exports in 2021. “Machines and apparatus used principally for manufacturing semiconductors, parts, and accessories are the largest export segment, valued at RM8.8 billion or 17.5% of total M&E exports in 2021. “MATRADE applauds this joint venture between MMT and Future Hover whereby both parties could complement each other strength in producing a more diverse range of high-tech products in Malaysia. “We are confident in our position in making Malaysia the preferred destination for semiconductor exports in the world and we look forward to working closely with MATRADE,” he said.

In a statement, Rubberex said its shareholders in an extraordinary general meeting held on Wednesday unanimously approved the proposed purchase, as well as its subsequent proposed diversification into the healthcare business and name change to Hextar Healthcare Bhd. He added that the healthcare business is complementary and synergistic to its core glove business, in line with the group’s overall growth strategy of venturing into other income-generated businesses that are profitable and sustainable for the long-term. Meanwhile, Rubberex’s largest shareholder Datuk Eddie Ong Choo Meng commented that as a testament to the group’s commitment to the healthcare sector, it proposed and obtained its shareholders’ approval for a name change to Hextar Healthcare. “This is to better reflect the group’s core business and future undertakings into the broader healthcare sector moving forward. Reszon is principally involved in the manufacturing of innovative vitro diagnostics test kits, Covid-19 rapid test kits and test kits specialising in infectious disease diagnosis and drug abuse screening for medical professionals and clinical diagnostic markets.

As ruling politicians are key to law and order and the fight against corruption, there is no other way but for them to take the lead. In addition, making the Malaysian Anti-Corruption Commission answerable to parliament instead of the executive — the prime minister and the cabinet — and giving it prosecution powers will strengthen the mechanism to fight corruption. The plan’s objective is to “break the corruption chain” and underscores the government’s commitment to achieving the aspiration of making Malaysia known for her integrity and not corruption. As a foundation to fight corruption, education must play a crucial role too. To win the war, the fight against corruption is a jihad that we must embed in our culture.

KUALA LUMPUR (Sept 12): No samples of soy sauce products in this country, including ABC Sweet Soy Sauce and Sambal Ayam Goreng Sauce, were found to contain sulphur dioxide based on monitoring at all entry points and in local markets from June 2021 to date. Dr Noor Hisham explained that sulphur dioxide is classified as a preservative permitted in certain foods and at certain levels under the Food Regulations 1985, and it is not harmful to humans when used in allowed concentrations. Even so, it could also cause allergic reactions in some individuals who have asthma when inhaled or swallowed, he said, adding that sulphur dioxide content exceeding 10 milligrammes per kilogramme must be declared or labelled. Dr Noor Hisham said the Health Ministry is always aware and concerned about matters that can threaten consumers’ health and advises the public who has any information or concerns about food safety issues to contact the nearest district health office. They can also channel information through the website http://moh.spab.gov.my or the official Facebook page of the Food Safety and Quality Division at www.facebook.com/bkkmhq.

KUALA LUMPUR (Sept 12): Foreign funds snapped seven consecutive weeks of net inflow into Malaysian equities last week (Sept 5 to 9) after foreign investors net sold RM42.49 million worth of shares listed on Bursa Malaysia, according to MIDF Amanah Investment Bank Bhd on Monday (Sept 12). "The healthy trend of foreign funds into Bursa took a halt after seven consecutive weeks of net inflows. Foreign investors net sold RM42.49 million last week. According to MIDF, foreign investors had last week net sold RM42.49 million worth of shares listed on Bursa after they bought RM1.88 billion and sold RM1.92 billion worth of stocks. Year-to-date, international funds have been net buyers of Malaysian equities for 24 out of the 36 weeks in 2022, with a total net inflow of RM8.11 billion, MIDF said.

For companies with sizeable environmental footprint, could financial incentives be offered in exchange for less emissions, consumption and waste? “In recent years, we have seen an increasing number of consumers respond positively to brands committed to environmentally-conscious and sustainable practices,” says Santharuban. Key for the company has been adopting the mindset and practices of a less-wasteful circular economy, right across its business operations. Santharuban is well- aware that to get it right, companies and their business partners must adopt a culture of constant vigilance. Finding other companies with similarly broad commitments has been the key to expanding Etika’s journey, Santharuban explains.

Designing buildings that are aesthetically pleasing, functional and gentle on the environment is what Kuee Architecture does to tackle climate change. “We were small in the first few years, but we were very active in pro bono projects then. Along the way, the firm received more commercial commissions and the scale of the projects has been growing. I decided to take up postgraduate studies in University College London after receiving a Building Design Partnership scholarship.”Kuee hopes the firm will be involved in more green and sustainable building projects. In terms of the use of materials, Kuee says low-emissivity glass was incorporated in the façade facing west, where heat gain will be eliminated substantially.

KUALA LUMPUR (Sept 10): Bursa Malaysia is likely to trend higher next week, with the FTSE Bursa Malaysia KLCI (FBM KLCI) expected to break the 1,500 mark due to the optimism that there will not be a global recession. Hence, he reckoned the FBM KLCI to trend within the 1,500 to 1,530 range for next week. Weekly turnover widened to 11.39 billion worth RM7.86 billion from 9.43 billion worth RM7.9 billion in the previous week. The Main Market volume was higher at 7.01 billion units worth RM6.29 billion from 5.58 billion shares valued at RM6.65 billion in the previous week. The ACE Market volume firmed to 3.07 billion shares valued at RM1.36 billion from 2.64 billion shares valued at RM1.05 billion the week before.

Executives are trying to pursue their decarbonisation targets during a period of turbulence that has created historic levels of uncertainty and numerous difficulties. They are grappling with ways to make an orderly carbon transition amid an unsettling geopolitical atmosphere, chronic supply chain disruptions and rampant inflation. To translate ambition into delivery, leaders will need to adopt a mindset that we call visionary pragmatism. Companies need to demonstrate progress in everything from Scope 1 and 2 decarbonisation to customer collaboration on green products and meaningful portfolio shifts. Decarbonise customer-backIn many sectors, the bulk of emissions happen when customers use the products that companies sell (downstream Scope 3 emissions).

KUALA LUMPUR (Sept 9): Sapura Energy Bhd said Lim San Peen has been appointed as its wholly owned subsidiary Sapura Project Services Sdn Bhd’s (SPSSB) interim liquidator under the order of the Shah Alam High Court. This is in connection with the winding-up petition filed against it due to non-payment of an outstanding sum. According to Sapura Energy’s bourse filing on Friday, the company and its subsidiaries had filed for the appointment of the interim liquidator of SPSSB on May 13, pending the hearing of the winding-up petition scheduled for Sept 14. It added that the appointment of the interim liquidator does not bear an immediate financial and operational impact on Sapura Energy, and will not affect the progress of the company’s restructuring plan. Shares in Sapura Energy closed half a sen or 12.5% higher at 4.5 sen, giving it a market capitalisation of RM719.06 million.

Share buybacks are wrongfully under attack. Critics of share buybacks claim that these transactions — which involve a company purchasing its own stock from shareholders — divert resources away from employees, investments and R&D. The myth of price manipulationPoliticians claim that companies use share buybacks to manipulate stock prices, permitting executives to unload shares at inflated prices. Can companies actually manipulate prices with share buybacks? Finally, if companies are manipulating stock prices through buybacks, then prices should revert in the long run.

KUALA LUMPUR (Sept 8): Bank Negara Malaysia (BNM)’s Monetary Policy Committee (MPC) has raised its overnight policy rate (OPR) by 25 basis points (bps) to 2.5% on Thursday (Sept 8), in line with expectations for further normalisation of monetary policy as the country’s economic growth and inflation gain momentum. At the current OPR level, the stance of monetary policy continues to remain accommodative and supportive of economic growth,” it said. Nevertheless, the central bank said external demand is expected to moderate following softening global growth. Further, the increased volatility expected in the global financial and foreign exchange markets is not expected to derail Malaysia's growth, it said. “Global growth is expected to face challenges from the impact of monetary policy tightening in most economies, and pandemic management measures in China.

He noted that the MPC's fifth meeting of the year is likely to see another 25 bps hike — which would raise OPR to 2.5% — in view of the continued improvement in the domestic economy. Looking at the last MPC meeting in November, Zafri expects another hike of 25 bps to end the year at 2.75%. Socio-Economic Research Centre (SERC) executive director Lee Heng Guie said a 25 bps hike is on the cards on Thursday given the strength of the Malaysian economy and inflationary pressures. Contrary to MIDF's forecast, SERC's Lee sees no more rate hike in November. The central bank then raised the key benchmark rate by another 25 bps to 2.25% in July.

In thinking about a green future for Southeast Asia, we propose two zones of analysis. One is technology development-focused (Technology Road Mapping, or TRM) and the other is ecosystem growth-oriented (Ecosystem Growth Mapping, or EGM). Technology Road MappingTRM develops a set of possible forward technology road maps and establishes key technical feasibility and costing issues, so that detailed clarifying explorations can be initiated within an overall plan. While technology needs decarbonising, ecosystems — which invest carbon to create life — have suffered from being decarbonised and they need investing in, not decarbonising. Most of the developed world is highly technically developed and thus naturally thinks in terms of technology road mapping into the future.

Mohd Nazrul says an independent adviser was hired in April to conduct a feasibility study for a dairy farm in Chuping and initial findings are promising. The JV company may also utilise FGV’s animal feed product under the brand ALMA, he says. For the upcoming dairy farm project, FGV says the JV company targets to produce 100 million litres of fresh milk by 2025. The plan is to see the dairy farm produce 300 million litres per annum from 2035 onwards. The latter would be key to ensuring that the RM500 million poured into the dairy farm venture by FGV will bolster the group’s financial performance.