Malaysia can exceed RM1 trillion total exports target: Minister

KUALA LUMPUR: Malaysia is capable of exceeding the RM1 trillion total exports target this year, boosted by strong collaboration between various government agencies and private sectors, said International Trade and Industry Minister Datuk Darell Leiking.

Last year, Malaysia according to him recorded RM998 billion in total export, about 0.2% short of surpassing the RM1 trillion threshold.

“But this year we believe we will have an export growth around 3.4% and hopefully we will be able to meet the said (RM1 trillion) target,” he told reporters on the sidelines of the Beyond Paradigm Summit today.

Darell’s bullish statement today was in line with the optimism expressed by Malaysia External Trade Development Corporation (Matrade) on Tuesday, that the country’s total exports could breach the RM1 trillion mark this year due to all-round positive catalysts and economic outlook.

Its CEO Wan Latiff Wan Musa said from January to May this year, Malaysia’s total exports stood at RM405.36 billion, which was an increase of 0.3% compared with the corresponding period last year.

Malaysia according to Darell has a different kind of market and due to that unique feature has enticed many investors to set up their business here.

Meanwhile, the minister was also asked on negotiations to create the world’s largest free trade agreement, the Regional Comprehensive Econo­mic Partnership (RCEP) and said, the member countries have just concluded their latest rounds of discussion in Australia recently.

“We are finding common grounds for reasons to conclude it for Malaysia as well as the other nine Asean countries plus the six dialogue countries.

“We will have a meeting just after next week in Beijing, where I will be attending on behalf of the government, to try and close some chapters and to give better directions of Asean so that hopefully we can conclude it by the end of the year,” he said.

RCEP is a proposed free trade agreement between 10 Asean member countries and six Asia Pacific nations, namely Australia, China, India, Japan, South Korea and New Zealand.

The free trade agreement was officially launched at the 2012 Asean Summit in Cambodia.

RCEP has a combined population of 3.4 billion with the gross domestic product (GDP) valued at US$49.5 trillion (RM203.2 trillion) or 39% of the global GDP.

Since Pakatan Harapan coalition of political parties took over the government administration from Barisan Nasional, it has managed to close a few chapters in the RCEP’s negotiation without risking the sovereignty of the country, said Darell.

Malaysia can exceed RM1t export target, says minister

KUALA LUMPUR, July 17 — Malaysia is capable of exceeding the RM1 trillion total exports target this year, boosted by strong collaboration between various government agencies and private sectors, said International Trade and Industry Minister Datuk…

ARB makes maiden foray into Cambodia’s IoT and IT markets

PETALING JAYA: ARB Bhd has entered into a memorandum of understanding (MoU) with Chean Chhoeng Thai Group Co Ltd (CCTG) to deploy Internet of Things (IoT) and information technology (IT) to the latter’s US$1.5 billion (RM6.2 billion) mixed development project in Phnom Penh, Cambodia.

The total value for ARB’s IoT and IT project is not less than US$100 million (RM417 million).

CCTG’s mixed development project involves the development of office buildings, a commercial complex, an arts centre, a cultural square, resorts, condominiums, a five-star hotel, an exhibition centre, and a public park, along the Tonle Sap river.

CCTG is the private vehicle of the major shareholders of Shanghai-listed Guangzhou Yuetai Group Co Ltd.

In addition, ARB also entered into an MoU with HK Yue Tai Life Insurance (HKYT) to provide to the enterprise resource planning system and solutions.

The project is valued at no less than US$20 million.

Under the MoU, ARB will deploy the related hardware and software for HKYT and in turn the HKYT will outsource the IT management project to ARB.

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MCOM shares soar 10.71% on Leap Market debut

KUALA LUMPUR: LEAP Market debutant, MCOM Holdings Bhd, saw its share price surged 10.71% or three sen to 31 sen, at the opening this morning.

At 10.30 am, the share price stood at 31 sen, with 30,500 changing hands.

In a statement today, the digital marketing solutions provider said it planned to penetrate the Cambodian market and increase the automation level for its mobile advertising platform, following the listing exercise.

CEO Ho Kim Hun said the company had set up the data centre and network operating centre in Phnom Penh, Cambodia in June 2018.

“We started offering Internet services in Cambodia in 2018, which will complement our existing digital marketing solutions.

“We believe this plan will not only increase our revenue stream, but also contribute to growth of the Internet infrastructure in Cambodia,“ he said.

On plans to increase the automation level of its mobile advertising platform, Ho said with the upgrade of the mobile advertising platform underway, he believed it would enhance the features of MCOM’s mobile advertising platform towards being fully automated, which subsequently allows for a fully automated interface between advertisers and publishers.

“Currently, our mobile advertising platform only allows customers to view settlement reports. To upload or modify new digital marketing campaigns, our customers need to send emails to our marketing personnel,“ he added.

To recap, MCOM was awarded a 30-year Internet service provider (ISP) licence and frequency licence by the Telecommunication Regulator of Cambodia in 2016.

It had leveraged on a local fibre optic cable provider’s infrastructure in Cambodia to roll out wired and wireless Internet services.

With these Internet service infrastructures, MCOM will be able to localise its digital marketing solutions to meet consumer needs in Cambodia through the analysis of Internet and mobile usage patterns in the country.

The Internet penetration rate in Cambodia was 34% in 2017 and the government aims to improve this to 70% by 2020.

Under the listing exercise, MCOM raised RM5.28 million via the placement of 18,856,000 shares in MCOM at 28 sen per share to sophisticated investors.

The company plans to utilise about RM2.90 million or 54.9% raised from the placement as capital expenditure to set up essential facilities to offer wired and wireless Internet services in Cambodia.

It will also utilise RM888,000 or 16.7% from the proceeds to increase the automation level in the company’s mobile advertising platform, as well as enhance its mobile advertising solution infrastructure.

TA Securities Holdings Bhd is the approved adviser, placement agent and continuing adviser for the placement and the LEAP Market listing exercise.

As a Malaysian Technology Development Corporation investee company, MCOM aims to be the leading digital marketing solutions provider, specialising in the mobile advertising platform and mobile payment solutions.

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China says only small number of firms moving supply chains out of the country

BEIJING: Only a small number of companies are moving supply chains out of China, a commerce ministry official said on Tuesday, amid signs that some firms are shifting production to other countries as the U.S-China trade war drags on.

The problem shouldn’t be overstated, Chu Shijia, a department director at the ministry, said at a media briefing.

In recent years, some Chinese manufacturers had already started to relocate capacity to countries such as Vietnam and Cambodia, due to high operating costs at home. The Sino-U.S. dispute is now pushing more to follow suit, especially makers of low-tech and low-value goods.

Some Chinese companies had concerns initially when the trade frictions started, but now they have found some ways to cut costs and to minimise the impact, Chu said.

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