The week at a glance 26 November 2017
Analysts raise GDP picks from Malaysia’s strong 3Q
Analysts are brightly optimistic over an uptick in Malaysia’s real Gross Domestic Product (GDP) which grew by a stronger growth of 6.2 per cent year on year in the third quarter of 2017 3Q17). The team at RHB Research Institute Sdn Bhd said this was its quickest pace in three years.
No respite for properties in the near term
AllianceDBS Research Sdn Bhd (AllianceDBS Research) believes the tightening measure by Dewan Bandaraya Kuala Lumpur to freeze approvals for four development types following the warning of oversupply by Bank Negara Malaysia (BNM) may do little to resolve the grave issue of supply glut in the near term.
Help detect bid rigging in public procurement, says Mycc
The Malaysia Competition Commission (MyCC) is urging government agencies to assist the commission in identifying bid rigging in public procurement as the offence was in violation of the Competition Act 2010. Chief executive officer Datuk Abu Samah Shabudin said MyCC has been receiving a number of complaints which involved bid rigging issues.
Sabah & Sarawak
Malaysia, Europe to cooperate to raise MSPO benchmark
Malaysia and Europe are willing to collaborate with European experts to raise the benchmark for Malaysian Sustainable Palm Oil (MSPO) certification to ensure it will be accredited and accepted as a certifcation system. Minister of Plantation Industries and Commodities, Datuk Seri Mah Siew Keong said the Malaysian government was committed to ensuring the successful participation of all stakeholders in the MSPO certification mandate, including providing full financial aid to more than 650,000 independent smallholders.
WIEF 2017 coincides with Sarawak’s goal to develop its digital economy
The 13th World Islamic Economic Forum 2017 (WIEF) falls in line with Sarawak’s goal to build and flourish its digital economy. Hosted for the first time in Sarawak, WIEF chairman Tun Musa Hitam pointed out that this edition of WIEF focuses on ‘Disruptive Change: Impact and Challenges’, which explores issues such as shifting trade policies and technological disruption.
Sacofa signs MoU with Indonesian company for subsea fibre-optic cable deal
Sacofa Sdn Bhd (Sacofa), the ICT infrastructure company that has been tasked with delivering on Sarawak’s ambitious telecommunications and broadband coverage targets, signed a Memorandum of Understanding (MoU) with PT Super Sistem Ultima (PT SSU), a telecommunications infrastructure specialist from Indonesia, for the collaboration of usage of an undersea fibre-optic cable linking East Malaysia with Peninsular Malaysia, Singapore and Indonesia.
Sacofa to enhance Sarawak’s broadband quality with new partnership
Sacofa Sdn Bhd (Sacofa) on Wednesday signed a Memorandum of Understanding (MoU) with Datastream Technology Sdn Bhd (DST), a telecommunications company in Brunei thought SDT’s wholly owned subsidiary DST International (Brunei) Sdn Bhd, to form a strategic collaboration to bring international broadband quality to Sarawak.
Massive improvements seen in Dayang’s activity levels
Analysts saw massive improvements in activity levels at Dayang Enterprise Holdings Bhd’s (Dayang) operations following better numbers for its third quarter of financial year 2017. According to MIDF Amanah Investment Bank Bhd (MIDF Research) in a note, Dayang’s activity levels are improving as evidenced from a rise in revenue of 4.5 per cent year on year.
Positive on HSL’s new job from X-FAB
Researchers are positive on Hock Seng Lee Bhd (HSL) following the award by X-FAB Sarawak Sdn Bhd of RM56.5 million piling, building works, and the associated mechanical and electrical works, to be completed within the next 19 months. AmInvestment Bank Bhd was positive on this latest development. Including this contract, HSL’s job wins year to date (YTD) now add up RM630 million — which was consistent with its FY17F-19F order book replenishment assumption of RM600 million annually.
Petronas ready for gassing up, cooling down services in Bintulu Port
Petronas LNG Ltd (PLL), a subsidiary of Petronas LNG Sdn Bhd (PLSB) recently signed a Memorandum of Agreement (MOA) with Bintulu Port Sdn Bhd (BPSB), a subsidiary of Bintulu Port Holdings Bhd (BPHB) for the provision of marine services to support PLL’s Gassing Up and Cooling Down (GUCD) services at the Bintulu Port for a period of three years.
HSL sees rise in 3Q17 profits
Progress on the record RM3 billion order book of Sarawak-based marine engineering and infrastructure specialist Hock Seng Lee Bhd (HSL) has accelerated, producing sound results for the third quarter ending Sept 30, 2017.
Naim’s property new sales grew better than expected
Naim Holdings Bhd’s (Naim) property segment achieved total new sales of about RM93 million for the nine months ended September 30, 2017, as compared with RM86 million for the corresponding period last year.
Source: Borneo Post Online