10 things to look out for in Budget 2019


IF the mid-term review of the 11th Malaysia Plan is a gauge of how the Pakatan Harapan government will frame economic policies, then Budget 2019, to be unveiled tomorrow, will be different. The tone of Budget 2019 is expected to be one where the government keeps a tight lid on the purse strings, as it is down by some RM35bil due to unpaid taxes this year. On top of that, Pakatan Harapan has declared that the federal government debt stands at RM1.087 trillion and not RM686.8bil as stated by theRead More

SMSL, Geenpeace pressure Lynas for permanent disposal facility

KUCHING: Save Malaysia Stop Lynas (SMSL) and Greenpeace Malaysia yesterday maintained that Lynas Corporation must identify a permanent disposal facility (PDF) for wastes produced at its Kuantan refinery, despite the rare earth refiner announcing recycling measures. Australian miner Lynas Corporation said it has been granted an extension to a temporary permit to store residue at […]

Govt welcomes German autos for car project

KUALA LUMPUR: The government is opening its door to German automakers to participate in the third national car project, says the Ministry of International Trade and Industry (MITI). Deputy Minister Dr Ong Kian Ming said there were a lot of German car companies which had been very successful in assembling completely knocked-down (CKD) vehicles with a […]

Analysts maintained ‘neutral’ view on construction sector post 11MP mid-term review

KUCHING: Analysts have kept their ‘neutral’ view on the construction sector following the release of the mid-term review of the 11th Malaysia Plan 2016-20 (11MP) on Thursday. However, they believe that the slew of high impact projects announced should also signal the sector’s sustainability. According to the report, public investment is projected to contract at […]

Rehda: Most housing units launched in H1 cost RM500,000 and below

PETALING JAYA: The number of residential properties launched in the price range of RM500,000 and below experienced a jump to 65 per cent of total launches in the first half of this year (H1 2018) compared with 52 per cent in the second half of 2017, according to a Real Estate and Housing Developers’ Association […]

PUNB targets to lower non-performing loans

KUANTAN: Perbadanan Usahawan Nasional Bhd (PUNB) targets to reduce its number of non-performing loans (NPL) which are due for settlement by year-end to 3%.

CEO Datuk Azhar Ahmad said the target was set as the repayment rate have been encouraging compared with previous years.

“Initially, our target was set at 6%, but since the number of NPLs have reduced to 6.35%, we are confident with the 3% target by year-end.

“This is better compared with 2016 and 2017 where NPLs stood at 20% of the total loans,” he told reporters after PUNB handed over RM100,000 in business tithe to the Pahang Zakat Collection Centre today.

As part of its effort to ensure loan settlements, Azhar said his officers would meet with the debtors personally to identify their problems in servicing the loans.

“We will then assist them in terms of rescheduling or restructuring their repayments in order to lessen their burden,” he said.

Azhar said NPLs in Pahang was under control at 4.7% out of RM146 million worth of loans involving 623 entrepreneurs, adding that as of Sept 28, PUNB had approved RM290.9 million in financing to 1,307 entrepreneurs nationwide. – Bernama

MABC calls for transparency in Lynas Malaysia probe

KUCHING: The Malaysia Australia Business Council (MABC) is calling on the Malaysian government to be transparent, objective and evidence-based in conducting its review into Lynas Malaysia. This comes as the latter has come into the spotlight after Deputy Minister in the Prime Minister’s Department, Fuziah Salleh, confirmed she will head a government review into the […]

Lynas committed to M’sia, hopes for fair review

KUALA LUMPUR: Australia’s Lynas Corporation, which operates a rare earth processing plant in Gebeng, Kuantan, is committed to Malaysia and hopes for a fair review of its operation, says chief executive officer Amanda Lacaze. “Lynas acknowledges the absolute right of the government to conduct a review. However, our expectation is that any review of our […]

Pasukhas buys Kuantan land for RM4.7m

PETALING JAYA: Pasukhas Group Bhd is acquiring a piece of land measuring about 1.0194 hectares in Kuantan, Pahang for RM4.7 million.

The group told Bursa Malaysia that its wholly owned subsidiary Pasukhas Sdn Bhd had on September 28 entered into a sale and purchase agreement with MTM Millennium Holdings Sdn Bhd for the acquisition.

Pasukhas said the acquisition will enable the group to expand its existing business activities as well as to take up more business opportunities.

The purchase sum will be funded through internal generated funds and/or bank borrowings.

Pasukhas’ share price fell 4.5% to close at 10.5 sen on 208,800 shares done.

CCCC actively seeking investment opportunities in M’sia

BEIJING: China Communications Construction Company (CCCC) is transforming from an engineering, procurement, construction and commissioning (EPCC) contractor to an investor, developer and operation service provider, says its vice-president Sun Ziyu. “We are actively seeking investment opportunities to help develop Malaysia. For example, we are exploring transit-oriented development (TOD) along the East Coast Rail Link (ECRL). […]