Total Trade In February Reaches RM134.83 Bln, Exports Remain Higher At RM71.77 Bln

Posted on : 05-04-2017 | By : sabah today | In : National Business

KUALA LUMPUR– Malaysia’s total trade in February 2017 expanded by 27.1 per cent, reaching RM134.83 billion compared to the same month of last year, with exports increasing by 26.5 per cent to RM71.77 billion.

It is the fourth consecutive month of exports exceeding RM70 billion since November 2016, and higher than the monthly average of RM64 billion recorded in the first ten months of 2016, said the Ministry of International Trade and Industry (Miti)in announcing the country’s external trade statistics here, today.

The trade surplus stood at RM8.71 billion. It was the 232nd consecutive month of a trade surplus since November 1997.

Imports in February 2017 grew by 27.7 per cent to RM63.06 billion.

Total trade for the first two months of 2017 surged by 20.6 per cent to RM270.63 billion, compared with RM224.4 billion in the same period of 2016.

Exports rose 19.8 per cent to RM142.04 billion and imports by 21.5 per cent to RM128.59 billion, resulting in a trade surplus of RM13.45 billion.

In February, expansion in trade was seen with all major trading partners, namely ASEAN, China, India, Japan, Taiwan, the European Union (EU) and the United States (US).

“In February 2017, double-digit exports growth was registered for all major sectors, namely manufacturing, mining, and agriculture goods,” Miti said.

Export of manufactured goods grew by 24.3 per cent to RM57.45 billion compared with a year ago, accounting for 80 per cent share of total exports.

For mining goods, it increased by 21.6 per cent to RM6.83 billion, while the export of agriculture goods surged by 50.7 per cent to RM6.78 billion, led by palm oil and palm oil-based agriculture products.

Trade with ASEAN in February 2017 grew by 36.1 per cent to RM39.03 billion from a year ago. Exports expanded by 34 per cent to RM21.55 billion, contributed mainly by a significant growth in exports of manufactured goods.

Among others, trade with China in February 2017 increased by 28.9 per cent to RM19.79 billion, contributing a 14.7 per cent share to Malaysia’s total trade.

Trade with the EU amounted to RM12.7 billion, a growth of 11.2 per cent and with Japan increased by 17.3 per cent to RM11.84 billion, with exports registering double-digit growth for two consecutive months after posting a continuous year-on-year decline since July 2016.

Miti said there was double-digit expansion in exports to some Free Trade Agreement partners, namely India, which grew by 32.2 per cent to RM2.77 billion, Turkey (82.1 per cent to RM830.9 million), New Zealand (56 per cent to RM344.6 million) and Pakistan (47.4 per cent to RM312.7 million).

In February 2017, the three main categories of imports by end use were intermediate goods valued at RM38.48 billion or a 61 per cent share of total imports. It increased by 39.9 per cent, due mainly to higher imports of coal.

The others were capital goods (RM7.29 billion, 11.6 per cent share, higher by 5.6 per cent) and due mainly to higher imports of air or gas compressors, hoods, and consumption goods (RM4.57 billion, 7.3 per cent share, down 0.6 per cent), with lower imports of food products.


Dutch PIB Palmeres Consortium signs MoU with AIM to collaborate in biomass sector

Posted on : 05-04-2017 | By : sabah today | In : National Business

KUALA LUMPUR: Eight Dutch companies under PIB Palmeres Consortium from the Netherlands have signed a memorandum of understanding (MoU) with Agensi Inovasi Malaysia (AIM) to collaborate in the biomass sector.

AIM chief executive officer Datuk Mark Rozario said the MoU aims to promote more collaboration in developing Malaysian-Dutch partnerships in the biomass sector.

“The MoU will help develop strategies to mobilise the local biomass resources for high value and diverse downstream industries, leveraging its strategic geographic location and establish infrastructure.

“To enable this, the new and robust sector relies heavily on an ecosystem of support, not just from the government but the entire value chain involving local and global players,” he said at the signing ceremony of the MoU here yesterday.

PIB Palmares Consortium consists of eStichting Energieonderzoek Centrum Nederland, Blackwood Technology, DMT Environmental Technology, Energy Transformers, Royal Dahlman, Witteveen+Box, Paques and the Wageningen Research Centre.

The consortium was set up to explore the potential of collaboration and investment in research and technology in the field of renewal energy and biomass from palm oil waste and residuals in Malaysia in a three-year programme.

On another note, AIM has partnered with PlaTCOM Ventures Sdn Bhd to organise the National Intellectual Property (IP) Valuation Awareness Programme to raise awareness among IP owners with multi-sector experts’ guidance.

PlaTCOM chief executive officer Dr Viraj Pereira said the programme aims to address gaps in the understanding how IP is valued as per global best practice and how this knowledge could be used in IP deal negotiations.

“Participants will gain valuable insights as well as learn the mechanics of excellent partnerships and business approaches that produce seamless interactions between innovation partners,” he said.

Under the programme, a workshop will run from April 25 to April 28 to help train professionals and IP owners on proper IP valuation methodologies as well as best practices.


Sabah Ports and Taiwan International Ports ink MOU

Posted on : 05-04-2017 | By : sabah today | In : Local Business

KOTA KINABALU: Sabah Ports Sdn Bhd and Taiwan International Ports Corporation, Ltd (TIPC) has signed a memorandum of understanding recently to explore business cooperation as well as look into strengthening bilateral port ties.

The MOU signifies a commitment from both parties to share port planning and operation strategies to enhance port performance and exploration of investment potential in Sabah.

“Over the past years, we have learnt of TIPC’s many programs of cooperation and long standing friendships with other port operators and we feel privileged that TIPC has agreed to collaborate with Sabah Ports.

“We are eager to have TIPC as our strategic partner at this opportune time as Sabah Ports is developing its Transhipment Hub initiative for Sapangar Bay Container Port (SBCP). Through this collaboration, we hope to convince TIPC on the great potential that the Ports as well as the State of Sabah, has to offer,” said Datuk Karim Hj. Bujang, chairman of Sabah Ports, during a briefing session for the delegation.

The MOU entered will benefit Sabah Ports as it seeks to engage the expertise of the well-established state owned TIPC, which manages 7 commercial ports in Taiwan and handled a total combined throughput of 225 million Twenty Equivalent Units (TEUs) in 2016.

This augurs well for Sabah Ports as it embarks on the SBCP expansion plan which will upgrade the ports capabilities to handle 1.21 million TEUs during the first phase of development and upon completion, will have the ability to accommodate 3.76 million TEUs.

“The main goal of the MOU is to create the synergy of mutual expertise and advantages for seeking cooperation opportunity in all aspects. We would like to share our different experience in port operation, cruise tourism, Free Trade Zone, logistics, land development, knowledge of port planning and construction for SBCP” said Mr. Wu Men Feng , Chairman of TIPC.

Signing the MOU on behalf of TIPC, Mr. Wu further added that TIPC’s General Manager is expected to visit Sabah Ports for further cooperation evaluation.

The 7 ports managed by TIPC include ports at Keelung, Taichung, Kaohsiung, Hualien, Taipei, Suao and Anping. Signing on behalf of Sabah Ports was its Managing Director, Ms. Ng Kiat Min who is also the Group Managing Director for Suria Capital Holdings Berhad, while Karim acted as witness to the signing.


Honda Malaysia chalks up double achievement

Posted on : 05-04-2017 | By : sabah today | In : National Business

MALACCA: Honda Malaysia celebrated a historical milestone with the production of the 600,000th unit in its local plant in Pegoh, Malacca.

In the same event, Honda Malaysia also took delight in its 100,000 sales units achievement for the current financial year (1 April 2016 – 31 March 2017) despite the challenging market situation over the past year. These achievements mark a successful and strong first quarter of 2017 for the company which is renowned for its challenging spirit and setting the benchmark in the industry.

The 600,000th unit production was achieved within a span of 14 years since Honda Malaysia started local assembly in its local plant in Pegoh, Malacca.

Currently, Honda Malaysia has two production lines in this plant, the No.1 Line which started operations in 2003 and the No.2 Line that began operations in 2014.

Honda Malaysia Managing Director and Chief Executive Officer, Mr. Katsuto Hayashi said, “The addition of the No.2 Line in 2014 has enabled Honda Malaysia to grow at an accelerated rate. We achieved 300,000 production units in just three years as compared to 11 years taken earlier to reach the first 300,000 units. I believe this was achieved through good strategy and strong challenging spirit from the Honda family. With this readily-available facility in Malacca Plant, Honda Malaysia has the spare capacity to fulfil bookings from customers as well as produce the best products for Malaysians.”


Handicraft woven from bamboo can generate RM20 mln for Keningau

Posted on : 05-04-2017 | By : sabah today | In : Local Business

KENINGAU: Kraftangan Malaysia believes that handicraft woven from bamboo can generate up to RM20 million in revenue annually for Keningau with the right marketing and promotions.

Deputy Tourism and Culture Minister Datuk Mas Ermieyati Samsudin said the district’s fine, quality bamboo handicraft, such as bags and containers, had been attracting Asian and European tourists to buying it.

“Bags, especially those made by craftsmen from Kampung Batu Lunguyan using the Dusun traditional motifs, are durable.

“It is not impossible that the village comes to be known as the ‘Land of Bamboo’ as its handicraft is of the highest quality and can potentially penetrate the international market,” she added.

She told reporters this after officiating the state-level Kraf KampungKu programme in Sook, near Keningau here yesterday.

Also present was the Assistant Minister in the Chief Minister’s Department and Sook State Assemblyman, Datuk Ellron Alfred Angin.

Aside from Kampung Batu Lunguyan, Mas Ermieyati said Kraftangan Malaysia would also be assisting 15 other villages in Keningau, also producers of bamboo handicraft, to market and promote their products to achieve the RM20 million revenue target.

Aside from the Tourism and Culture Ministry, 28 other government and private agencies are also involved in the implementation of the state-level Kraf KampungKu programme.

It includes the Ministry of Trade and Industry, Sabah Tourism, Culture and Environment Ministry, the Federal Agriculture Marketing Authority and the Sabah Economic Development and Investment Authority.

Mas Ermieyati said that next year, Keningau district would be organising the Visit Keningau Year, which would include a large scale promotion of bamboo handicraft.

She also said that as of February this year, 3,960 handicraft entrepreneurs in Sabah had registered with Kraftangan Malaysia, of whom 1,098 are forest product entrepreneurs, with sales totalling RM4.69 million.

Meanwhile, Kraftangan Malaysia Director-General Zuraida Mokhtar said the agency had always emphasised on sustainable entrepreneurial attributes, to ensure that the handicraft business continue and remains competitive.

“The Craft Village project is not just about implementation. It includes a holistic approach, with product laboratories, guidance, quality advisory services, product design and marketing,” she added.


Pos Malaysia invests RM150mil to enhance capacity of IPCs

Posted on : 05-04-2017 | By : sabah today | In : National Business

KUALA LUMPUR: Pos Malaysia Bhd has invested RM150mil to enhance the capacity of its two Integrated Parcel Centres (IPCs) at Shah Alam and Sepang.

Group chief executive officer Datuk Mohd Shukrie Mohd Salleh said the enhancement would enable the IPCs to sort and deliver packages of up to 516,000 transactions daily by 2019 from the current 150,000.

“The enhancements are taking place concurrently. In two years time, the Shah Alam IPC’s capacity is expected to increase to 316,000 units daily.

“When the Sepang IPC is completed, also within the same period, the total capacity will hit 516,000 units daily,” he told reporters at a press conference after a signing event with Tigers Global Logistics Sdn Bhd, here today.