Malaysia exported RM22.5 bln worth of wood-based products in 2019

JEMPOL, Sept 7 (NNN-BERNAMA) — Malaysia exported RM22.5 billion worth of wood-based products last year, Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali said. He said of the amount, furniture products made up the highest export at RM9.14 billion followed by plywood products (RM3.40 billion) and sawn timber (RM3.37…

Malaysia’s foreign fund outflows expanded to US$134.47 mln from Sept 1-3

By Rosemarie Khoo Mohd Sani KUALA LUMPUR, Sept 7 (NNN-BERNAMA) — Foreign investors continued to offload Malaysian equities during the Sept 1-3, 2020 period, with net selling widening to US$134.47 million (RM558.0 million) from US$116.85 million (RM484.9 million) during the Aug 24-28, 2020 period. (US$1 = RM4.14) Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said Bursa Malaysia…

UK lawsuit will dampen AAX’s ability to recover from COVID-19, says MIDF

KUALA LUMPUR, Sept 7 (NNN-BERNAMA) — The US$22.98 million (RM95.33 million) lawsuit filed in the United Kingdom for alleged breach of contract against AirAsia X Bhd (AAX) will further heighten the risk on the long-haul carrier’s ability to safely ride out the COVID-19 pandemic, says a research house. In a research note, MIDF Amanah Investment…

Parliament to debate Philippines claim to Sabah

KUALA LUMPUR, Sept 7 (NNN-BERNAMA) — The Dewan Negara has allowed for discussion this afternoon an urgent motion on the Philippine claim to Sabah, said Dewan Negara president Tan Sri Dr Rais Yatim. He said the motion will be debated in accordance with Standing Orders 17(3), with the proposer allowed…

American-M’sian business chamber urges govt to reconsider entry ban on foreign citizens

File photo of Executive Director of American Malaysian Chamber of Commerce (AMCHAM), Siobhan M.Das. Photo courtesy of BERNAMA KUALA LUMPUR, Sept 4 (NNN-BERNAMA) — The American Malaysian Chamber of Commerce (AMCHAM) has urged the government to reconsider the blanket entry ban on foreign citizens from 12 countries, including the US, which will take effect on…

National oil company Petronas assures there will be no retrenchment

KUALA LUMPUR, Sept 4 (NNN-BERNAMA) — Petroliam Nasional Bhd has given its assurance that there will be no reduction in the number of employees or retrenchment in the national oil company, although the group is in the midst of trimming capital cost to strengthen its resiliency.  However, it is mulling a pay cut in light of the…

Malaysia sees 11 new COVID-19 cases, 3 from new cluster

KUALA LUMPUR, Sept 4 (NNN-BERNAMA) — A total of 11 new COVID-19 positive cases were reported today, of which three were detected from a new cluster at the Semenyih 2 Immigration Detention Depot, said Health director-general Tan Sri Dr Noor Hisham Abdullah. He said the index case from this cluster is…

Indonesia records 3,269 new COVID-19 cases, 82 deaths

By Mohd Shukri Ishak JAKARTA, Sept 4 (NNN-BERNAMA) — Indonesia recorded 3,269 positive COVID-19 cases in the past 24 hours, bringing the cumulative figure for cases to 187,537. Based on data published today on the Indonesian government’s official COVID-19 website, www.covid19.go.id, 85,178 patients were under surveillance for the coronavirus. Between noon…

Goldman Sachs freed from charges related to 1MDB bonds sale

KUALA LUMPUR, Sept 4 (NNN-BERNAMA) — The High Court here Friday acquitted and discharged UK-based Goldman Sachs International Ltd and its two Asian entities, Goldman Sachs (Asia) LLC and Goldman Sachs (Singapore), from the charges related to the sale of 1Malaysia Development Berhad (1MDB) bonds amounting to RM27.2 billion (US$6.5…

Malaysia among top five non-EU countries sending students to UK

KUALA LUMPUR, Sept 4 — British High Commissioner to Malaysia Charles Hay (left) exchanging pleasantries with 38 Malaysians who received the Chevening scholarship at his official residence yesterday. Hay said the Chevening Secretariat received some 800 applications from Malaysians, of which only 38 were selected to undertake studies in various…