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Tag: Malaysia

  • Maybank IB named best investment bank for fourth time running in Euromoney Awards

    Maybank IB named best investment bank for fourth time running in Euromoney Awards

    Maybank Investment Bank Bhd (Maybank IB) was named the best Malaysian investment bank for the fourth time in a row in the Euromoney Awards for Excellence 2018.

    According to Euromoney, the accolade has been conferred on Maybank for its strong performance during the period under review.

    “Maybank IB had gone from strength to strength as a regional firm that now stands in comparison with all international and regional peers in Asean investment banking and advisory,” said Euromoney.

    It noted that the bank is the clear leader in investment banking in Malaysia.

    Maybank IB also topped the league tables in ringgit sukuk and conventional bonds.

    Euromoney received almost 1,500 submissions from banks for the award programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries.

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  • Trade wars to hit Malaysian steel sector

    Trade wars to hit Malaysian steel sector

    The Malaysian steel sector will be affected negatively in 2018 and 2019 due to the trade wars on the external front, said MIDF Research.

    “Changes in global trade policies, tepid global demand as well as the local steel mill cost structure will continue to impede any positive demand for the companies under our observation,” it said in a report.

    It expects the steel sector to experience more headwinds from the trade wars as China’s demand for steel is shaky, coupled with the slump in its construction industry.

    “The demand from China’s manufacturing sector takes up to 360 million metric tons annually, close to 60% of its annual consumption. But, the demand is expected to shudder further due to China’s environmental health and occupational safety policies,” MIDF Research said.

    It noted that steel players such as Ann Joo Resources, Lysaght Galvanised Steel, Southern Steel, SC Steel, Mycron Steel and Choo Bee Metal have reacted negatively to the announcements and influx of news on trade and tariff wars.

    It expects the trend to persist because globally, steel demand is projected to grow to 1,616.1 million metric tons this year and tepid growth will be plagued by low demand for 2019, growing to 1,626.7 million metric tons.

    “This means less demand for export for the local steel mill. Most of the local companies are affected by unwavering overhead costs and operational expenditure, making the sector unattractive,” said MIDF Research.

    Meanwhile, the government has announced the exclusion of sales and services tax for building materials and construction services, which would be a breather for the construction sector from the grim outlook of project cuts, it added.

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  • Mao Shan Café China to open 200 more stores

    Mao Shan Café China to open 200 more stores

    The Mao Shan Cafe, a franchised food retail network with a menu centred on durian – plans to open 200 outlets across Mainland China by 2022.

    Mao Shan Cafes serve durian cakes, savouries, pastries, waffles, durian coffee and ice cream and other unique foods based on Malaysia’s Musang King strain of durians, targeting Chinese nationals who are passionate about the fruit.

    In China, where whole durians are harder to come by, sales of durian-flavoured products have skyrocketed in recent years. Duerian imports have surged from 40 tonnes in 2011 to 368 tonnes in 2016.

    A subsidiary of US private equity business The Funding Partners, Mao Shan Cafe also plans to collaborate with Chinese food delivery giants Meituan and Alibaba-owned Ele.me to further boost sales.

    This year, 10 stores are planned for the Guangdong region and the first 100 in the company’s franchised network are expected to be trading by 2020. Sometime before the 200 threshold is reached, The Funding Partners plans to spin the company off in a Mainland China float.

    The chain’s first flagship store opened last month, in a ceremony attended by celebrities including Hong Kong performing artist, Maria Cordero.

    The Funding Partners has interests in Malaysia’s durian growing and export industry and saw the retail network as a way of expanding exports further to the mainland.

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  • Victoria’s Secret To Open First Lingerie Store In Malaysia

    Victoria’s Secret To Open First Lingerie Store In Malaysia

    Victoria’s Secret Malaysia is opening its first lingerie store in October.

    Located at Mid Valley Megamall, the first full-range store will house all of the brand’s signature collections, including Body by Victoria, Very Sexy, Dream Angels, Bombshell and T-Shirt collection, along with the athletic line, Victoria Sport.

    All the signature scents and body care collections will also be ranged – including the Pink line.

    Victoria’s Secret arrived in Malaysia in 2012, and only stocks its lifestyle collections including accessories and beauty lines at existing stores.

  • Harvey Norman open door in Johor Malaysia

    Harvey Norman open door in Johor Malaysia

    Australian furniture retailer Harvey Norman Malaysia has opened its first store in Johor, at Paradigm Mall.

    Harvey Norman Asia MD Kenneth Aruldoss said the opening was timely as Johor has an impressive market thanks to rapid economic growth.

    The store also offers the retailer’s “Shop with Confidence” campaign which offers price guarantee.

    “This means that when customers buy a product from Harvey Norman and later find the same item at a lower price at another store, we will match the lower price and top up 10 per cent of the price difference within 10 days,” Aruldoss said.

    Another Johor store will be opened in SouthKey Mid Valley Megamall within the next three months while the third store is expected to open its doors in Tebrau, site of the Ikea-anchored Toppen shopping centre, early next year.

    Harvey Norman Malaysia has opened 17 stores so far, and plans to increase the network to 43 within 10 years.

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  • Pink Parlour opens new Malaysia store

    Pink Parlour opens new Malaysia store

    A second Pink Parlour location is popping up in Malaysia.

    Opening in the city of Johor Bahru inside the KSL Mall, the lifestyle concept store will offer Pink Parlour beauty treatments, as well as serving as a café and retail space, according to a press release from Singaporean owner and operator, Parlour Group.

    Inside, the store’s front area will feature a café teashop and a retail spot, selling various pink-coloured products, matching the pink aesthetic of the Singapore salon.

    Out back, Pink Parlour’s waxing salon will be located, alongside a Senses area, the company’s second foot reflexology massage outlet.

    The new hybrid store – decked out in the brand’s signature fuchsia pink – is focused on innovation, and allows consumers to enjoy a holistic shopping and beauty experience.

    The new branch will be second store to bow in Malaysia after its first store opening in Kuala Lumpur’s Sunway Putra Mall just two years ago.

    Following the success of Parlour Group’s first location, the decision to create this brand new concept store signals positive receptivity in the Malaysian market.

    Fairoz Karim, one of the company’s established franchise partners in Malaysia, will operate the location.

    “Having seen [Pink Parlour’s] encouraging growth and support in Kuala Lumpur, I am truly excited to expand the business and open its second outlet in the hustling city of Johor Bahru,” said Karim.

    “Johor Bahru Malaysia KSL Mall has proven to be a prosperous commercial space, attracting hundreds of customers looking for upscale, professional beauty services, on a daily basis.

    “I look forward to seeing what the future holds for this new location in KSL mall and continuing our mutually beneficial business relationship with Parlour Group from Singapore.”

    Founded in 2005 by Singapore beauty veteran Wendi Chan and sales maven Derrick Seeto, Pink Parlour started out from a lack of modern beauty salons in Singapore.

    Today, the group operates 15 Pink Parlour outlets across Southeast Asian metropolitan cities such as Singapore, Kuala Lumpur, Manila and Jakarta.

  • Malaysia PM : ‘Third national car will not be like Proton’

    Malaysia PM : ‘Third national car will not be like Proton’

    The International Trade and Industry Ministry (Miti), which is confident of completing its review of the National Automotive Policy (NAP) by year-end, assured that the third national car mooted by Prime Minister Tun Dr Mahathir Mohamad, will not be like Proton, according to Miti Deputy Minister Dr Ong Kian Ming.

    He said Mahathir’s concept of the national car project is not about going back to Proton, but for energy efficient vehicles (EEV).

    Ong said the NAP needs to look at new mobility pathways, trends in driving patterns, and be adjusted with the improvement in public transportation and vendor development in the ecosystem.

    “There are many things that can be updated in terms of how we want to make the aspiration of Dr Mahathir to propel the automotive industry into something more sustainable and green.

    Inputs from the industry and stakeholders are important to help Miti shape this NAP. We hope the public do not think that Dr Mahathir’s intention is to revive Proton as Proton 2.0. There are many more ideas that he has,” Ong said at the British Malaysian Chamber of Commerce-Shell Premier Luncheon: Sustainability in Business, today.

    He said the third national car project will be open to all inputs and ideas of cooperation.

    “Dr Mahathir has spoken on the possibility of having an Asean car with cooperation with Indonesia, so there is opportunity to explore with other players, but looking at the angle of how the NAP is going at an international level, moving towards electric cars and EEV, and the value chain that comes along it, which includes electronics, artificial intelligence, internet of things – that would be part and parcel of the ecosystem.”

    On the matter of free trade deals, Ong said the government needs to decide on the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) first before it can discuss on free trade agreements (FTA) with other countries, but remains committed to the existing FTAs.

    “We’re already negotiating RCEP (Regional Comprehensive Economic Partnership) and is part of the countries negotiating it. Whatever happens to CPTPP will not affect our direct participation in RCEP at this point in time,” said Ong.

    Earlier at the event, Ong spoke about the government’s short term priorities in reforming for sustainability, which are to reduce and restructure national debt, put in place institutional and policy reform and design new narratives and strategies for investment and growth.

    He said ministers will need three to six months to get a complete grasp of their respective ministries.

    Its long term priorities are to realign the country’s fiscal structure and priorities, reform institutions for sound leadership, policy and justice, as well as to change the underlying structure of the Malaysian economy. This will take two to five years, before the 15th General Election.

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  • ‘Deadpool’ boosts Fox earnings

    ‘Deadpool’ boosts Fox earnings

    group 21st Century Fox, most of which is being sold to Walt Disney Co., on Wednesday topped earnings expectations with help from the latest film devoted to anti-hero Deadpool.

    The company reported a profit of US$4.48 billion (RM18 billion) in the fiscal year that ended June 30, compared with net income of US$3 billion (RM12 billion) the previous year.

    It credited tax reform in the United States with giving it an accounting gain of US$1.5 billion (RM6 billion) at the end of 2017.

    The company’s film studio, 20th Century Fox, boasted of winning Academy Awards for six movies – including a best picture Oscar for The Shape of Water – and said it ended the year with “the strong theatrical success” of Deadpool 2.

    The sequel, starring an unkillable, potty-mouthed super hero from Marvel Comics, grossed more than US$730 million (RM3 billion) at theater box offices worldwide, according to the earnings report.

    Revenue for the recently-ended fiscal year increased seven-percent to $30.4 billion (RM124 billion), the company said.

    Adjusted earnings for the company were in line with analyst expectations. Fox shares were down a fraction of a percent to US$45.42 (RM185) in after-market trades.

    The company said its profit in the final fiscal quarter was US$925 million (RM3.8 billion) on revenue that was up 18% from the same period a year earlier.

    “As we move closer to combining our businesses with Disney and establishing new Fox, we are convinced that the paths we are creating for our iconic businesses will drive enduring and growing value for our shareholders,” executive chairmen Rupert and Lachlan Murdoch said in the earnings release.

    A media-entertainment megadeal enabling Disney to take over a large part of the Murdoch family’s 21st Century Fox empire moved a step closer to fruition last month when shareholders of both firms approved the tie-up.

    The US$71.3 billion (RM291 billion) deal – which must still get past regulators – will give Disney prized assets being sold by Rupert Murdoch’s group, including the Fox studios in Hollywood and important film and television production operations.

    US cable and entertainment group Comcast has been in a bidding war with Fox for British-based pay TV group Sky, of which Fox already owns 39%.

    The big media-entertainment firms are pursuing deals as they seek to slow the rise of streaming media platforms like Netflix and Amazon, and prepare for the entry into the sector of Silicon Valley giants like Google and Facebook.

  • Lalamove launched in Malaysia

    Lalamove launched in Malaysia

    Global on-demand logistics service provider Lalamove was launched in Malaysia this morning after its announcement to enter the market two months ago.

    Connecting businesses with the drivers or riders, the mobile app allows request for delivery services using motorbike and car.

    Country director Yong Sik Hoe said as the growth of e-commerce continues, the demand for delivery of the goods purchased is growing.

    He said local deliveries can be achieved within an hour, which allows business to scale rapidly without being constrained by logistics as well as huge operating expenses.

    Lalamove has presence in Hong Kong, Singapore, Thailand, Taiwan, Philippines, Vietnam, Indonesia and over 100 cities in China, serving 15 million customers and supporting over 2 million drivers.

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  • Malaysia’s June exports rise 7.6% year-on-year

    Malaysia’s June exports rise 7.6% year-on-year

    Malaysia’s exports in June 2018 was valued at RM78.7 billion increasing by 7.6% year-on-year (y-o-y), a reversal of the trend of the five previous months where export growth was stronger than imports, according to Statistics Department.

    Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said in a statement that re-exports increased 63.1% to RM15.7 billion y-o-y and accounted for 20% of total exports.

    However, he said that domestic exports was lower by 0.8% decreasing RM512.5 million to RM62.9 billion.

    Meanwhile, the department said imports growth registered a higher increase of 14.9% y-o-y to RM72.6 billion resulting a trade surplus of RM6 billion.

    Total trade which was valued at RM151.3 billion increased RM15 billion or 11% from June 2017, it noted.

    It said the export growth was contributed by expansion in exports to Hong Kong, China, Taiwan, Vietnam and Republic of Korea, while higher imports were mainly from China, Singapore, Taiwan, Republic of Korea and Saudi Arabia.

    The department said main products which contributed to the increase in exports were electrical and electronic products, refined petroleum products and crude petroleum.

    However, it said declines were recorded for these products; palm oil and palm oil-based products, liquefied natural gas (LNG), natural rubber, and timber and timber-based products,” it added.

    “While for imports, all the main categories of imports by end use and broad economic category classifications (BEC) recorded increases from a year ago, namely intermediate goods (RM1.2 billion), capital goods and cosumption goods,” it added.

  • AirAsia bullish on Indonesian market

    AirAsia bullish on Indonesian market

    Malaysian low-cost carrier AirAsia, which will start flights to Silangit Airport, Indonesia, the main gateway to Lake Toba from Oct 28, is looking to increase its services in Indonesia, a market in which it sees huge potential.

    Speaking at a press conference in conjunction with the official launch of the new route today, AirAsia Group CEO Tan Sri Tony Fernandes said the airline is eyeing more routes from Malaysia to Indonesia such as Belitung, Banyuwangi as well as Raja Ampat.

    “We are very bullish about Indonesian tourism. Indonesia is a huge priority for us,” Fernandes said.

    “We have already started talking about Kuala Lumpur-Belitung (route), which we see as a huge potential. There are so many places within Indonesia, as I’ve always said Indonesia is much more than just Bali.”

    In addition, Fernandes said the airline is also looking at cruise business in Indonesia, noting that coupled with the low-cost airline, it would be a huge potential for the state’s tourism industry.

    According to Indonesia’s Tourism Ministry, AirAsia made the highest contribution of all airlines to the number of international tourists flown to the country, bringing in 25% of the total figure.

    The four times weekly direct flights from Kuala Lumpur to Silangit Airport is the 21st route launched by the airline into the state.

    Fernandes said the new route marks the carrier’s commitment to support the government of Indonesia in developing the 10 priority tourism destinations, including Lake Toba.

    “Prior to Silangit, travellers wishing to visit Lake Toba had to take a six-hour bus ride from Medan. Today, they can fly direct to Silangit and reach Lake Toba in just an hour.

    “In addition to building new airports, Indonesia is converting Terminal 2 at Soekarno-Hatta International Airport into a low-cost carrier terminal. We believe this is a step in the right direction and we will continue to fully support Indonesia to achieve 20 million tourist arrivals by 2019,” he added.

    AirAsia is offering promotional all-in fares from RM39.10 for one way till Aug 12 for travel between Oct 28 and March 29, 2019.

    Besides Silangit, AirAsia also flies to 15 other destinations in Indonesia namely Jakarta, Lombok, Pekanbaru, Surabaya, Bali, Medan, Padang, Semarang, Banda Aceh, Pontianak, Yogyakarta, Palembang, Bandung, Makassar and Solo.

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  • AirAsia Q2 load factor down 3% to 86% on seat capacity expansion

    AirAsia Q2 load factor down 3% to 86% on seat capacity expansion

    AirAsia Group Bhd’s operations in Malaysia, Indonesia and the Philippines saw a 3% drop in its load factor to 86% for the second quarter of 2018 (Q2 18) compared to the same period of 2017.

    Seat capacity for the quarter under review, however, increased 17%.

    The low-cost carrier said in a statement that it carried 10.88 million passengers in Q2 18, representing a 13% increase against the 9.61 million passengers flown in Q2 17.

    AirAsia Group’s total fleet size grew to 124 aircraft comprising 88 in Malaysia (AirAsia Bhd), 15 in Indonesia (PT AirAsia Indonesia Tbk) and 21 in the Philippines

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  • Smart Trends eyes Asian, African markets

    Smart Trends eyes Asian, African markets

    Smart Trends International Sdn Bhd, a training recruitment and consultancy specialist, is looking to expand its operations in the emerging Asian and African markets.

    Smart Trends offers corporate training and technical programmes, which are designed to equip workers and non-workers with specific skills and abilities to perform their jobs efficiently and helps in improving their skills and enhancing their performance.

    The company had also recently signed a strategic partnership with NCFE (UK) to develop specially tailored technical and vocational courses for the Asean region. NCFE is an awarding organisation by the qualification regulators for England, Wales and Northern Ireland.

    “We are trying to venture into these markets in the fourth quarter of this year because we feel that there is a lot of potential especially in terms of vocational education,” Smart Trends chairman and group CEO Datuk Dr Emmanuel Benson said on the sidelines of the Global Leadership Awards 2018 recently.

    “Africa is an emerging market and they need education, especially on vocational and technical training. Not everyone (there) can afford to attend college or university,” he added.

    Smart Trends currently has presence in Sri Lanka and Vietnam with the opening of its training centres in these countries.

    In 2017, it has successfully trained and placed over 1,200 Malaysians with global multinational companies (MNCs) and Malaysian manufacturing, construction and oil & gas firms, according to its website.

    Going forward, Benson said he believes that there will be a lot of multinational job opportunities coming in to Malaysia, driven by surging foreign direct investments (FDIs) into the country as well as growing industries.

    “Training industry is an evolving and growing sector where you know micro-skilling is always needed.

    And what we are lacking (here) is that our graduates are not able to get a job and many people are getting retrenched, so micro-skilling is pivotal and plays an important role in order to get one employed,” he added.

    During the event, Benson bagged two awards, namely the “Masterclass CEO of the Year” and “Leadership Excellence in Human Capital Development Through Technology Innovation”.

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  • Mitsui Fudosan plan to open more store

    Mitsui Fudosan plan to open more store

    Japan’s largest factory outlet operator is considering opening a similar park in Thailand.

    The firm, Mitsui Fudosan Retail Management, is the developer of Mitsui Outlet Park, which attracts increasing numbers of Thai visitors each year. 120,000 Thai nationals are expected to visit the park this year, compared to 80,000 last year and 60,000 in 2016.

    Kazuo Iida, the GM for the firm’s tourism sales promotion department, said, “We’re interested in opening the Mitsui Outlet Park in Thailand, but the plan is just in the consideration process.

    “The number of Thais who visit Mitsui Outlet Park ranks fourth after China, Hong Kong and Taiwan,” he explained. “The number of Thais who visit Mitsui Outlet Park will outpace Taiwanese visitors for third place in the near future.”

    With the outlet park set to open a third-stage expansion at the end of October, it is moving towards becoming the outlet mall with the most stores in Japan, according to Iida.

    The group operates 13 outlet malls in Japan and two branches in Taiwan and Malaysia.

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  • Asia’s large format retailers prepare for steady growth

    Asia’s large format retailers prepare for steady growth

    Global research organisation IGD has reported that Asia’s large format retailers are set to grow 3.3 per cent a year to 2022, with Vietnam, India and the Philippines forecast to see double-digit growth from large format players over the next five years.

    Most of this growth is predicted to be driven by domestic retailers, except for Vietnam where foreign retailers have been investing to gain a foothold in this fast-growing market. Indonesia will see steady growth, also driven mainly by domestic players; with China coming through as another market with significant growth opportunities due to its vast geography.

    Many large format retailers in Asia are still enjoying steady growth through expansion although they are facing pressures from increased competition in more developed markets.

    Besides expansion to new regions, retailers are also digitising physical stores to create a seamless shopping experience in more matured markets.

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