Saturday, August 13th, 2016


Southeast Asia Property Awards names winners

KUCHING: This year’s Southeast Asia Property Awards (Malaysia), presented by Hansgrohe and organised by PropertyGuru Group, celebrates the most innovative developers and projects in Malaysian real estate, with emphasis on corporate social responsibilities (CSR) initiatives. In a statement, Sime Darby Property was awarded the year’s top honour – Best Developer (Malaysia) – for its long-term […] Source: Borneo Post Online

Low stockpile, moon cake festival to boost palm oil demand from China

SHANGHAI: Palm oil imports and demand in the second largest consumer of edible oil, China, is expected to increase this year, bolstered by low stockpile and the increase in demand for the Moon Cake Festival. Malaysian Palm Oil Council chief executive officer, Tan Sri Yusof Basiron, said the sentiment in the next few months should […] Source: Borneo Post Online

Economists cautious on Malaysia economic outlook in 2H16

KUCHING: Economists remain cautious on the economy’s outlook in the second half of the year (2H16) despite the industrial production index (IPI) registering better than expected growth rate of 5.3 per cent in June. They believe uncertainties over the external environment and the slower-than-expected economic recovery of the two largest economies in the world, US […] Source: Borneo Post Online

Saudi minister: Algeria meeting may discuss stabilising oil market

DUBAI: Saudi Arabia will work with OPEC and non-OPEC members to help stabilise oil markets, it said a month ahead of an informal meeting of major producing countries in Algeria. Members of the Organization of the Petroleum Exporting Countries will meet on the sidelines of the International Energy Forum (IEF), which groups producers and consumers, […] Source: Borneo Post Online

Naza Italia launches Maserati Levante

KUALA LUMPUR: Naza Italia Sdn Bhd, the official importer and distributor for Maserati cars in Malaysia, yesterday unveiled the Levante, a luxury sport utility vehicle (SUV). Naza Italia vice-president Farid Sulaiman said the on-the-road price of the all-new Maserati SUV would be about RM800,000. “The target market for the Levante are existing Maserati owners and […] Source: Borneo Post Online

Malaysia palm oil producers to hunt for new markets, could look to Africa

KUALA LUMPUR: Malaysian palm oil producers could be forced to find new customers in places like Africa as rival exporter Indonesia increases its dominance of major markets such as China and India due to cheaper prices and a more-favourable tax system. Malaysia has long-trailed Indonesia as the world’s No.2 producer and exporter of the edible […] Source: Borneo Post Online

China retail sales growth slows in July, misses expectations

BEIJING: China’s retail sales growth slowed sharply in July, government statistics showed Friday, missing expectations in a disappointing sign for the world’s second-largest economy as authorities look to consumer demand to push growth. Retail sales rose 10.2 per cent in the month, the National Bureau of Statistics (NBS) said, a marked slowdown from June’s 10.6 […] Source: Borneo Post Online

Ringgit to perform in the long run, says BNM Governor

KUALA LUMPUR: Bank Negara Malaysia (BNM) expects the ringgit to perform in the long-run, driven by strong economic fundamentals, Governor Datuk Muhammad Ibrahim said. He said the ringgit’s current volatility against the US dollar was due to the strengthening of the greenback, following normalisation of uncertainty surrounding the interest rate adjustment in the world’s largest […] Source: Borneo Post Online

Miti: Malaysia sees strong inflow of foreign direct investments

KUCHING: Despite ongoing economic challenges both domestic and abroad, Malaysia continues to see strong inflow of foreign direct investments, driven by the construction and real estate developments across the nation, says the Ministry of International Trade and Industry (Miti). During the Southeast Asia Property Awards (Malaysia) 2016, held recently, Miti deputy minister Datuk Chua Tee […] Source: Borneo Post Online

Electronic Marlboro sucks Japanese smokers away from Japan Tobacco

TOKYO: Marlboro maker Philip Morris International says its e-cigarette has rapidly captured close to 3 per cent of Japanese tobacco sales, making inroads into a market Japan Tobacco relies on for 40 per cent of its profit. In what may be an early vindication of Philip Morris’s e-cigarette strategy, the iQOS accounted for 2.2 per […] Source: Borneo Post Online