The Iskandar Malaysia is one of the major projects which have been garnering a lot of interests lately with investments growing and more companies keen to set up their offices there. This landscape is set to continue in the near future after the recent announcement by Ismail Ibrahim, the Chief Executive Offiver of IRDA (Iskandar Region Development Authority) who said that the region has attracted some RM95 billion in committed investments for the first six months of 2011.
This he said represents more than double of the cumulative target for the 5 years up to 2010 which was at RM47billion. Iskandar Malaysia has set a target of investments from 2011 to 2015 to reach RM73billion. Ismail did not elaborate more about more new investments as the announcements would be made either by the Prime Minister Datuk Seri Najib Tun Razak or Datuk Abdul Ghani Othman, the Mentri Besar of Johor when the time is right. Read more
The week started with a lot of cautious trading on Bursa Malaysia after the recent turn of events in Europe and the American market. But there was some positive news as the FBM KLCI closed on a high note when at the close, it peaked at 1,499.74 points. This was partly due to the main heavyweight shares of Maybank and TNB that lifted the points by 1.08%, up 16.07 points.
The day opened at 1,486.04 points and some also attributed the positive momentum from the gains from other markets in the region. This came in the wake of the major sell-off taking place last week due to the Eurozone debt crisis as well as the weakening United States economy. There were more gainers than losers with 626 and 190 counters respectively while 232 counters remains unchanged with total shares traded at 10.702 millions. Read more
Plywood importers from Japan have halted their new orders from manufacturers in Sarawak due to high inventories. The companies have been purchasing the panel products aggressively from companies in the East Malaysian state after the recent earthquake and tsunami in March where it was speculated to provide the industries with rebuilding purposes.
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According to market analysts, the Malaysian stock market is forecasted to be quite volatile in the course of the coming week. This is most likely due to the debt crisis currently hitting the European market while the recent negative rating of the US economy by Standard and Poor’s will also be a major factor.
After all, the FBM KLCI has been very jittery throughout last week which pretty much was the case of most Asian bourses after news that a possible financial crisis is looming. The FMB-KLCI dipped below 1,500 for the first time since mid-March this year following a huge sell-off throughout last week. Read more
The global economy outlook seemed to look bleak and that has affected Malaysia in more ways than one could imagine. The recent events in the United States as well as across Europe where the governments are all trying to cut spending and to get a better grip of their economies meant that some are looking at ways to ‘ride through’ the current mini crisis.
With the uncertainties in the global outlook and the slowdown in businesses around the world coupled with the recent unrests like the London riots, the outlook for Malaysia in the second half of 2011 looked bleak as well. Read more
Following the recent new orders of aircrafts by Malaysian Airlines and AirAsia, it seems that Singapore Airlines too have followed suit. This would surly invoke more competition and affect the players in the aviation industry, most notably AirAsia and MAS who recently announced a deal that saw shares being swapped between the 2 Malaysian carriers.
Read moreMost markets around Asia responded positively with a strong rebound after the last few days which suffered huge losses. This came in the wake of the announcement by the US Federal Reserve that they will ensure that the benchmark interest rate will be kept at a record low for at least until the mid of 2013. It also stated that they will try to use other means to help stimulate the economy of the country.
Read moreIn light of the August 2 deadline of raising the United States debt ceiling, banks are holding cash in US dollars and it is considered to be a cautious move in case the deadlock is not solved then. Market sources quote that the United States government is currently rushing to come out with an understanding before August 2 or it might risk having to default their debts and this would be the first time the world superpower house will be doing so. According to Datuk Lee Kok Kwan, the group treasurer and the deputy Chief Executive Officer of CIMB Group, the demand for US dollars in the money market has increased.
Read moreIt is reported and speculated that the LED (Light-Emitting diode) business will be going through a slowdown in the second half of 2011 and this is widely due to the situation of over-supply affecting the global LED market. According to Heng Huck Lee, the Chief Executive Officer of Globetronics Technology Berhad, the company’s LED products had recorded 5 to 10% lesser as compared to last year’s corresponding period. The LED business is one of the key contributors to annual revenue of Globetronics.
Read moreAccording to dealers of Bursa Malaysia, the stock market outlook this week will be quite choppy. This came in the wake of the August 2 deadline for the United States in raising the debt ceiling where many are adopting a wait-and-see approach although a large portion of investors are sceptical that President Barack Obama and his team could come out with a solution by then.
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