KUALA LUMPUR, Dec 12 (Bernama) — The government has decided to impose a provisional safeguard duty of 23.93 per cent ad-valorem on imports of hot-rolled steel plate (HRP) with effect from Sunday for a period of 200 days. The Ministry of International TRADE and Industry (MITI), in a statement Friday, said the provisional safeguard duty was to reduce the effects of serious injury to the domestic industry caused by the surge in HRP imports. “The final determination under section 23 of the Safeguards Act 2006 will be made within 200 days from the application of the provisional safeguard measure,” it added. On Aug 18, the government initiated a safeguard investigation based on a petition filed by Ji Kang Dimensi Sdn Bhd on behalf of domestic HRP producers. The petitioner alleged that increased HRP imports from 2011 to 2013 had caused serious injury to the domestic industry. The government’s preliminary investigation under section 20 of the Safeguards Act 2006 found that...

KUALA LUMPUR, Dec 17 (Bernama) — The government is expected to announce measures to further bolster the economy soon following the recent fall in the value of the ringgit, said International Trade and Industry Deputy Minister Datuk Hamim Samuri. Without elaborating on the measures to be taken, he said they are based on the economy’s still strong fundamentals as well as favourable investment trends and balance of payments. “The people should place their trust in the government and give space to the leaders based on our past experience,” he told reporters after the launch of the Perdasama Muda national committee here today. Earlier, he said the government has experience in handling the ringgit’s large depreciation during the 1997 financial crisis, which was aggravated by a massive outflow of short-term capital. However, he said, the situation this time around is different in that it has been caused by a fall in commodity prices. He also urged the people not to resort...

KUALA LUMPUR: TB Supply Base Sdn Bhd (TBSB), which has received interest from over 100 companies to utilise its facilities in Tok Bali, Kelantan, will spend RM100 million in 2015 for civil works and to build facilities such as additional warehouses, Customs and Immigration building, new offices, canteen, rigging loft, crew jetty and helipad. TBSB is ultimately owned by Kelantan royalty Tengku Rozanna Petri and Tengku Rozlynda Petri Tengku Mohd Nasrun, through Forlenza Holdings Sdn Bhd. Forlenza through Matrix Reservoir Sdn Bhd, owns a 99.99% stake in TBSB. TBSB’s directors include Tengku Datuk Mohamad Rizam Tengku Abdul Aziz (also the chairman), Tengku Rozanna Petri and Shankar Ray Shi-Wan. TBSB is a logistics hub located in Tok Bali, Kelantan specifically catered to providers of support services to the offshore oil and gas industry. It has invested RM90 million to date since June 2014, for facilities like warehouses, revamp works and wharf. TBSB is located on a 328 acres...

KUALA LUMPUR: Malaysia aims to attract investments worth RM56bil in the manufacturing sector in 2015, a modest target compared with the RM71.9bil it received last year. Minister of International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the manufacturing sector has remained attractive to investors, with  approved investments in the sector surging by 38% to RM71.9bil in 2014 compared with RM52.1bil in 2013. For the services sector, excluding real estate, the government expects to attract RM64.5bil in investments this year, the minister said after revealing the country’s Investment Performance Report 2014 here today. Despite a challenging external environment this year, Mustapa said he still expects a moderate outlook for the investment climate in Malaysia. He said currently there are RM65.1bil worth of on-going projects –RM51.4bil in the manufacturing sector and RM13.7bil in the services sector. Malaysian Investment Development Authority (MIDA) Chief...

KUALA LUMPUR 26 Feb. - Asas kewangan yang kukuh dan dasar negara yang pragmatik sejak lima tahun lalu diyakini meletakkan Malaysia dalam landasan yang betul untuk menjadi sebuah negara maju menjelang 2020. Menteri di Jabatan Perdana Menteri dan Ketua Pegawai Eksekutif Unit Pengurusan Prestasi dan Pelaksanaan (PEMANDU), Datuk Seri Idris Jala berkata, sehubungan itu, negara perlu kekal fokus dalam memperkembangkan sektor-sektor ekonomi utama dan memperbaiki persekitaran perniagaan di negara ini. “Kita tidak boleh berputus asa dengan cabaran-cabaran sebaliknya meneruskan perancangan sedia ada,” katanya dalam program Rangkuman Ekonomi 2014 di sini hari ini. Yang turut hadir pada program itu ialah Menteri di Jabatan Perdana Menteri, Datuk Seri Abdul Wahid Omar dan Menteri Perdagangan Antarabangsa dan Industri, Datuk Seri Mustapa Mohamad. Tambah Idris, pertumbuhan ekonomi 2014 yang kukuh diterajui oleh aktiviti-aktiviti pelaburan swasta dalam pelbagai industri utama termasuk...

GEORGE TOWN (Feb 28): Penang moved up one notch to the third spot with the highest number of approved investments in the country last year, after Johor and Sarawak. Penang approved local and foreign investments totalling RM8.2 billion in 2014, a 109% jump from the previous year. Chief Minister Lim Guan Eng said the state approved foreign investments amounting to RM5.1 billion and RM3.04 billion in  domestic investments last year. “In 2013, our total proposed capital investment was RM3.9 billion and we were ranked No. 4,” he told a news conference to announce the investment figures released by the Malaysian Investment Development Authority (Mida) yesterday. “This (2014) is good results, although it is more important that we receive quality investments. “It should not be typical industries but those that can add value, be high-tech and are knowledge intensive,” Lim said. He added that the investments in Penang were widely distributed between local and foreign businesses...

 

KOTA BAHARU, Kelantan state, Malaysia March 1 (NNN-Bernama) — The 21st ASEAN Economic Ministers’ (AEM) Retreat reaches its peak when all economic ministers of ASEAN and the organisation secretary General, Le Luong Minh, meet Sunday. The last day of the retreat kick start with a briefing by the chairman of ASEAN Business Advisory Council (ABAC) Dr Mohd Munir Abdul Majid on the feedback from the private sector on the ASEAN Economic Community. Mohd Munir would also submit seven proposals, covering eight sectors, to be implemented before the AEC kickoff to smoothen the region’s integration as a single economy as well as previous outstanding proposals such as ASEAN business card and ASEAN lane at all international entry points. Among the proposals that will be submitted are the setting up of the ASEAN Youth Entrepreneur Association and the ASEAN Women Entrepreneur Association to address the needs of two of the major groups in the region’s demographic structure. Also to be...

KOTA BAHARU, March 1 (Bernama) — Member countries will continuously reduce non-tariff measures and non-tariff barriers for freer intra ASEAN trade, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed Sunday. Mustapa said 69 non-tariff measures had been identified, and of this, 45 had been resolved. “We have decided to make more progress. We have identified many more and we will try to resolve those,” he told a press conference on the final day of the 21st ASEAN Economic Ministers’ Retreat (AEM) here. The Economic Ministers also proposed to form a mechanism to deal with non-tariff measures in facilitating the movement of businesses within the region. “We are looking at a formal platform. We are talking to the European Union, to see how we can share best practices with them,” said Mustapa. ASEAN Deputy Secretary General for the ASEAN Economic Community Dr Lim Hong Hin said a systematic mechanism would be developed to allow the private...

KOTA BAHARU, March 1 (BERNAMA) — ASEAN economic ministers (AEM) today wrapped up their two-day retreat here with a steady progress made towards implementing the ASEAN Economic Community (AEC) Blueprint, particularly key measures prioritised by member states. As the regional grouping moves towards the tail-end of the AEC implementation, it has progressively removed trade obstacles such as Non-Tariff Barriers (NTB), which are a clear impediment towards the realisation of the AEC. “There are a number of highlights (achieved) during this retreat. We’d talked about NTBs, listened to reports on the progress of the economic integration, and spent a lot of time on the Regional Comprehensive Economic Partnership (RCEP),” International Trade and Industry Minister Datuk Seri Mustapa Mohamed told reporters on the final day of the two-day 21st ASEAN Economic Ministers’ Retreat (AEM) here, Sunday. Mustapa, who chaired the retreat, said eliminating non-tariff barriers is very...