KUALA LUMPUR: Another record-breaking export print in March has provided continued optimism for Malaysia's trade-led economic rebound in 2022, economists said.
The 25.4 per cent year-on-year (yoy) export growth last month was a signal that recoveries were gaining ground in the country, they added.
Malaysia's total trade posted a double-digit growth of 27.3 per cent yoy during the month to reach a new high of RM236.6 billion, the International Trade and Industry Ministry said.
Export and import values in March once again broke the record for all-time monthly highs at RM131.6 billion and RM104.9 billion respectively.
The ministry said the data from Department of Statistics Malaysia (DOSM) showed robust export growth, contributing mainly by solid external demand for electrical and electronic (E&E) products and commodity-based products.
The E&E products soared to a record high in March due to stronger exports of electronic integrated circuits underpinned by growing digitalisation trends.
"Exports to major markets notably Asean, China, the United States, the European Union and Japan recorded double-digit growth. Highest export monthly value was registered to Asean, the EU and Japan," the ministry said today.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the latest statistical print showed that the country was the direct beneficiaries of the global economic recovery.
"The double-digit growth suggests that the contribution from the net exports are likely to be significant to the first quarter (Q1) 2022 gross development product which will be announced in May," Afzanizam told the New Straits Times.
Despite that, Afzanizam said Malaysia's purchasing managers' index had fallen below the 50 points demarcation line in March. This would mean manufacturers had grown wary over the global growth prospects this year.
"The International Monetary Fund has already indicated that they might want to cut their global GDP growth for 2022 and 2023 lower, which they will announce this week. So it is a question of the sustainability and durability of the recovery.
"For now, it is still fluid but we are hopeful things will get better because of the reopening of the international borders which will support the domestic economy," he added.
Putra Business School economic analyst Associate Professor Dr Ahmed Razman Abdul Latiff sees Malaysia's economy firmly on the path to recovery, after recording improvements in its total trade number.
Ahmed Razman said the increase in total trade numbers in March compared to the previous month showed that Malaysia had benefited from better global demand.
"With the higher demand for our commodities such as oil and palm oil, coupled with the continuing Russia-Ukraine crisis which opened up opportunity for our Malaysian producers to keep up with the demand, I foresee that we will see a continuous double digit growth on month to month basis for the rest of the year," he said.
OCBC Bank economist Wellian Wiranto said the 25.6 per cent expansion in Malaysian exports was miles north of the 10.4 per cent that market had expected and ahead of the 16.8 per cent yoy of February.
"Out-shipment of petroleum products and LNG were up 96.5 per cent and 100.5 per cent, respectively, even as Malaysia continued to benefit from the semiconductors boom, with E&E shipment at 32.8 per cent yoy. On the flip side came imports surprises too, however. Malaysia's imports came in close to 30 per cent yoy versus 16.4 per cent," Wellian added.
Elaborating on the trade numbers, the ministry said the rise in imports were noted for E&E products, crude petroleum, petroleum products, chemical and chemical products, machinery, equipment and parts, metalliferous ores and metal scrap and coal.
On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus recorded double-digit growth of 28.1 per cent, 28.7 per cent, 27.3 per cent and 34.8 per cent respectively.
"Total trade for Q1 of 2022 grew by 23.6 per cent to RM624.86 billion, compared to Q1 2021. Exports increased by 22.2 per cent to RM344.97 billion and imports expanded by 25.2 per cent to RM279.89 billion. Consequently, trade surplus recorded a higher value of RM65.1 billion," it said.
The ministry added that the rise in exports was attributable mainly to higher exports to Singapore (RM5.1 billion), followed by Japan (RM2.1 billion), South Korea (RM1.8 billion), the EU (RM1.8 billion), China (RM1.7 billion), Taiwan (RM1.4 billion), Thailand (RM1.4 billion), Indonesia (RM1.4 billion), and the United States (RM1.3 billion).
China was a key contributor to the increase in imports, which increased by RM3.4 billion, followed by Saudi Arabia (RM2.9 billion), Taiwan (RM2.8 billion), Indonesia (RM2.5 billion), Singapore (RM2.3 billion), the United States (RM1.4 billion) and Thailand (RM1.2 billion).
from before consol less then 2k shareholders holding to now more then 8k fishy shareholders you still put hope on it....means u hold very long term till the end of the business lol.....:)
the directors have already controlled the company via esos shares. They just sapu the shares from the open market a bit and the market cap will be back to RM180mil to RM200mil+ which is reasonable.
the rich becomes richer... a broken economy system
Inflation reaches new highs
Inflation data for March came out this week, and the U.S. grew annual inflation to 8.5%, up from 7.9% in February. Mostly driven by energy (up by 32%) and food (up by 8.8%) prices, U.S. inflation reached a 40-year high. Even inflation excluding food and energy, which is called “Core CPI”, posted a 6.5% increase.
probably those money will be flowing into such stocks like pasukhas. :)
Selected EPF members to receive RM10,000 from 18 April 2022 Written by Lester Tan Category: Legal Published: 18 April 2022 Selected EPF members to receive RM10,000 from 18 April 2022 Facebook Twitter LinkedIn WhatsApp WeChat Telegram Email This disbursement continues to apply to EPF members aged below 55, and will end on 30 April 2022. Prior to this, they were to receive the payment from 20 April 2022 instead.
KUALA LUMPUR: The public portion of MN Holdings Bhd's (MNHB) initial public offering (IPO) has been oversubscribed by 118.48 times.
In a statement today, the underground utilities and substation engineering specialist said a total of 17,205 applications for 2.44 billion new shares worth RM512.81 million were received from the public for 20.44 million new shares made available for public subscription.
The Bumiputra public portion of shares was oversubscribed by 89.02 times, after a total of 9,340 applications for 919.94 million shares were received.
Meanwhile, 7,865 applications for the remaining public portion amounting to 1.52 billion shares were received, representing an oversubscription rate of 147.94 times.
The 8.18 million new shares offered to MNHB's eligible directors and employees under pink form allocations have also been fully subscribed.
Its placement agent also confirmed that all the private placement and offer shares to selected investors and identified Bumiputera investors approved by the Ministry of International Trade and Industry had been fully placed out.
MNHB managing director Loy Siong Hay said the oversubscription from the public and encouraging response from investors for the private placement portion was a vote of confidence in its business model and growth strategies.
"Going forward, we would strive to secure more contracts and build our order book by leveraging on our competitive strengths," he said.
Under the IPO, MNHB is raising RM17.2 million from its public issue of 81.75 million new shares at 21 sen each.
There is also an offer for sale where 40.88 million existing shares will be allocated for private placement to selected investors.
Of its total IPO proceeds, RM5.84 million will be used to buy various machineries and equipment over the next two years to support MNHB's business expansion for the underground utilities and substation engineering services and solutions segments.
Additionally, RM4.33 million will be allocated for general working capital to support working capital requirements for new and existing projects, with another RM4.00 million to repay bank borrowings.
The remaining RM3.00 million will be used for listing expenses.
MNHB's listing on Bursa Malaysia's the ACE Market is tentatively scheduled on April 28.
M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO.
KUALA LUMPUR (April 20): A total of 10,619 Covid-19 recovered cases were recorded in the country on Tuesday (April 19), bringing the cumulative number of recoveries to 4,274,746, said Health director-general Tan Sri Dr Noor Hisham Abdullah.
He said the number of new cases had dropped to 6,069 compared with 7,140 recorded the previous day, bringing the cumulative figure for positive Covid-19 cases thus far to 4,402,234.
“Of the 6,069 new cases reported yesterday (April 19), 5,959 were local transmissions involving 96.4% Malaysians and 3.6% foreigners, while 110 were imported cases comprising 66.4% Malaysians and 33.6% foreigners,” he said in a statement on Wednesday.
Dr Noor Hisham said a total of 241 Covid-19 cases were admitted to hospitals, comprising 97 cases (40.2%) in Categories 3, 4 and 5 while 144 cases (59.8%) were in Categories 1 and 2.
KUALA LUMPUR (April 20): Lingerie maker Caely Holdings Bhd has confirmed that the Malaysian Anti-Corruption Commission (MACC) has issued a freeze order on all the operational bank accounts of the company and its subsidiaries.
In a reply to a query from Bursa Malaysia on Wednesday (April 20), Caely clarified that the freezing order by the anti-graft agency was never served on the company, but that it had merely received the notice from one of its banks, CIMB Bank, on April 13 that the company’s accounts had been frozen.
“The company does not have any knowledge as the freezing order (by MACC) was never served on the company. However, all the company and its subsidiary's bank accounts maintained with the banks had been frozen,” it said.
It added that it does not have any knowledge on the length of the freezing order.
"The company has communicated with the banks to allow the company to use the monies and requested for reason for freezing the accounts. We have requested to unfreeze the accounts but we have yet to receive any response from the banks. Also, enquiries with MACC are still in progress," it said.
"All the accounts were frozen, the company was unable to make any payment to suppliers, salary, banks or any party. The company is currently exposed to potential lawsuits and claims for breach of contracts because unable to make payment and fulfil its commitment."
It is seeking legal advice on the courses of action that can be taken.
On Monday, Caely announced that an authority had issued a freeze order on the bank accounts of its group of companies, but said it was unaware of any wrongdoing.
Earlier, Caely had on April 7 also announced that Virdos Lima Consultancy (M) Sdn Bhd had been appointed as forensic auditor to carry out an independent forensic audit on allegations of suspicious and irregular transactions at Caely. It had cited that one of its independent non-executive directors had received an anonymous package containing documents raising concerns on several suspicious transactions involving Caely as the circumstances leading to the forensic investigation.
It had said that it expects the investigation to be completed by May 31.
At noon break on Wednesday, shares in Caely closed 1.5 sen or 3.49% lower at 42 sen, giving it a market capitalisation of RM107.17 million.
Read also: Freeze order on lingerie maker Caely’s bank accounts; company says not aware of any wrongdoing
Pengarah2 terpaksa mengaku Dan mengumumkan kpd seluruh dunia Bahawa mereka dah menyapu banyak syer pasukhas!!!! Sesuatu yg Indah Akan berlaku bila2 masa kini :)
OTHERS PASUKHAS GROUP BERHAD ("PASUKHAS" OR "THE COMPANY") - DEALINGS IN QUOTED SECURITIES PASUKHAS GROUP BERHAD
Type Announcement Subject OTHERS Description PASUKHAS GROUP BERHAD ("PASUKHAS" OR "THE COMPANY") - DEALINGS IN QUOTED SECURITIES Pursuant to Rule 9.20 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of PASUKHAS wishes to inform that the aggregate purchase and sale consideration of quoted securities by the Company within the preceding 12 months, has exceeded 5% of Pasukhas Group’s consolidated net assets, and the details are as below:-
As at 20 April 2022, Pasukhas Group's total investments in quoted securities are as follows:-
RM
% of Pasukhas consolidated net assets
a.
(i)
Aggregate purchase consideration within the preceding twelve (12) months
17,366,055
9.65
(ii)
Aggregate sales consideration within the preceding twelve (12) months
307,500
0.17
b.
Investments in quoted securities as at 20 April 2022
- Total Cost
44,040,930
- Total Book Value
37,926,046
- Total Market Value
37,926,046
c.
(i)
Net loss arising from the sale of quoted securities by Pasukhas Group during financial year ending 31 December 2022
0*
(ii)
Net profit arising from the sale of quoted securities by Pasukhas Group during financial year ending 31 December 2022
Juga Ada kemungkinan Bahawa permaju Dan pasukhas Akan bergabung menjadi satu entiti selepas harga syer Pasukhas menjadi Lebih kurang Sama dengan permaju
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Ppmaster
4,431 posts
Posted by Ppmaster > 2022-04-19 11:46 | Report Abuse
Listen to me is the only way to not lose money or to become rich.