RON95 petrol, diesel up 20 sen from midnight
The move is aimed at reducing the fiscal deficit, thus saving RM1.1bil per year for the Government, said Prime Minister Datuk Seri Najib Tun Razak. The new prices for RON95 will be RM2.10 per litre and RM2.00 for diesel.
SP Setia plans 3 new projects worth RM15.5b.
SP Setia has 280ha in Rinching, where it is developing Setia Eco Hill, a mixed-development worth RM4 billion. It also has 400ha in Beranang estate. The development, Setia Eco Hill 2, is worth RM3.5 billion. The company expects to launch Setia Federal Hill here in 2015. The project, estimated to be worth RM8 billion, will be developed on the 20.64ha former site of the Public Health Institute off Jalan Bangsar. Read more >>
Lafarge embarks on massive expansion plan
Local leading construction material producer Lafarge Malaysia Bhd is embarking on a massive expansion plan across all product lines to help meet local and overseas buoyant demand. Read more >>
M'sian shrimp industry will lose RM511mil if US anti-dumping duty is imposedThe local shrimp industry stands to lose over US$155mil (RM511mil) in revenue per annum should the United States’ proposal to impose a 54.5% anti-dumping duty on Malaysian shrimps take effect on Oct 1, 2013. Shrimp exports to the United States comprised 43.84% of Malaysian shrimp sold overseas. In 2012, 27,468.77 tonnes of Malaysian shrimps were exported to the US market, while the total local output was 65,000 tonnes. Read more >>
KLK in JV with Indonesias Astra Agro Lestari
Plantation firm Kuala Lumpur Kepong Berhad (KLK) has roped in Indonesia-listed rival PT Astra Agro Lestari Tbk (AAL) to further penetrate the international refined palm oil market. “The JV will facilitate the pooling of resources for processing and marketing in order to enjoy better economies of scale,” said KLK. Read more >>
Plantation firm Kuala Lumpur Kepong Berhad (KLK) has roped in Indonesia-listed rival PT Astra Agro Lestari Tbk (AAL) to further penetrate the international refined palm oil market. “The JV will facilitate the pooling of resources for processing and marketing in order to enjoy better economies of scale,” said KLK. Read more >>
Govt to stop new mega infra projects
The government, which is facing shrinking current account surplus and growing contingent liabilities, has decided not to roll out and fund new mega infrastructure projects, according to officials familiar with the public policy.
“Any new projects will not be approved unless they are undertaken fully by the private sector... there won’t be any PFI (private finance initiative) awards as well,” said a source. The government, in future, will also also stop providing guarantee to back debts secured for new infrastructure projects. Read more >>
