Palm oil prices to rise, more R&D needed, says industry
Analysts are predicting that Malaysian palm oil prices may rise by up to 22 percent in the first half of this year due to drier weather conditions which will affect the level of output. New York based broker Prudential Bache Commodities LLC said prices might jump to $988 a metric ton. Meanwhile, Sime Darby’s managing director, Datuk Azhar Abdul Hamid, says that the industry needs to increase yields through more research and development. “We can only grow the oil palms around the equator, which means any more land clearing would have a catastrophic impact on the world’s climate. Therefore...
March 10th, 2010
Ministry plans global campaign for Malaysian cuisine
The Malaysian Ministry of International Trade & Industry is to launch a programme to increase awareness globally of Malaysian restaurants abroad. Called the New Malaysian Kitchen Programme Model, it will launch in April and will include promotional activities such as a website for Malaysian restaurants abroad which will detail their opening hours, locations and the top five dishes on their menus. “We want to promote Malaysian restaurants overseas so that they get more customers,” says International Trade and Industry Minister Mustapa Mohamed. And he added, “ As Malaysian restaurants...
March 10th, 2010
Strong Dutch interest in investing in Malaysia – Minister
Malaysia’s Minister of International Trade and Industry, Mustapha Mohamed says that increasing numbers of Dutch entrepreneurs are interested in investing in Malaysia. The Minister, who is with a delegation of business leaders visiting Amsterdam, says that a number of reciprocal visits are already lined up. A number of major Dutch companies already operate in Malaysia including Shell, ING and Philips. Official figures indicate that as of December 2009 Dutch companies were involved in 163 projects in Malaysia with investments worth $4 billion.
March 10th, 2010
Norwegian business encouraged to work with Malaysia
Malaysia’s Prime Minister, Najib Razak, says that Norwegian companies are invited to work with Malaysian businesses in research and development in the ITC, engineering and biotechnology sectors. Speaking at a dinner held in honour of Norway’s visiting Crown Prince Haakon Magnus and his wife Crown Princess Mette-Marit, the Prime Minister said, “I would like to take this opportunity to invite Norwegian companies to increase their investments in Malaysia. In Malaysia’s quest for new sources of growth, Norwegian companies could capitalise on our conducive investment climate and strategic...
March 10th, 2010
Malaysia targets meetings and conferences market
Malaysia’s Prime Minister Najib Razak says that the country is aiming to become one of the top five meetings, incentives, convention and exhibition (MICE) destinations in Asia-Pacific in the next five years. “Malaysia has all the inherent ingredients to be successful, such as growing accessibility, competitive pricing, leading edge infrastructure, multicultural attraction and professional expertise,” he told reporters. In 2008, Malaysia was ranked in eighth place for the MICE market in Asia Pacific and 32nd in the world. “We are confident that with the combined efforts of all stakeholders...
March 8th, 2010
Duty on golf buggies dropped to boost industry
Malaysia’s Prime Minister Najib Razak has announced that import duty on golf buggies has been abolished in a bid to help boost the country’s golf industry. The Prime Minister, presenting prizes at the Maybank Malaysia Open said, “One of the ways in which we can help the development of quality golf courses in this country as well as to ensure that golf clubs in this country provide better facilities, is to remove import duty on buggies.” In 2009, Malaysia received 350,000 visitors who came to the country specifically to play golf.
March 8th, 2010
Broadband to reach 50 percent of population, says Minister
Malaysia is expected to reach its target of 50 percent broadband penetration by the end of the year, says Information Communications and Culture Minister Datuk Seri Utama Dr Rais Yatim. Broadband currently reaches 32.4 percent of the population. “It is believed that every increase of 100,000 users of laptop computers equipped with broadband facilities will increase the broadband penetration rate by one percent,” he said at the launch of Asia Pacific Regional Internet Conference Operational Technologies in Kuala Lumpur.
March 8th, 2010
Deutsche Bank awarded Malaysian Islamic banking license
Deutsche Bank of Germany has announced that it has received an International Islamic Banking license from Malaysia’s central bank, Bank Negara Malaysia. The license will enable Deutsche Bank to provide Islamic commercial and investment banking services denominated in foreign currencies to institutional clients throughout Asia. Raymond Yeoh, Chief Country Officer for Deutsche Bank (Malaysia) Berhad, says, “Deutsche Bank has a proven track record of innovation in wholesale Islamic finance. Our Islamic Banking License will make this innovation more easily available to our clients in Asia...
March 3rd, 2010
Malaysian banks & GLCs may gain, says JP Morgan report
A report from JP Morgan Chase & Co says that Malaysian banks and government-linked companies (GLCs) may benefit from Malaysia’s better than expected economic growth. It said that corporate profits may increase by as much as 20.7 percent this year as the worst of the recession is now over. “Fourth-quarter earnings last year have been robust, setting the stage for a strong 2010,” it said.
March 3rd, 2010
Terengganu targets four million tourists
Malaysia’s Terengganu state wants to attract four million tourists this year, says State Tourism, Culture, Arts and Heritage Committee chairman Datuk Zaabar Mohd Adib. Last year 3.3 million tourists visited the state – lower than the 3.5 million targeted. “Last year, we targeted 3.5 million tourists, but because of the economic slowdown and the H1N1 pandemic, we only recorded 3.3 million tourist arrivals. “However, with the current development, we are confident of wooing more tourists to the state this year,” he said. Zaabar said that the state will spend RM 8million on...
March 1st, 2010
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