logo
Malaysia Strengthens Role As Strategic Hub For ASEAN-GCC-China

Malaysia Strengthens Role As Strategic Hub For ASEAN-GCC-China

Barnama27-05-2025

GENERAL
KUALA LUMPUR, May 27 (Bernama) -- Malaysia continues to strengthen its role as a key facilitator in fostering closer economic ties between ASEAN, the Gulf Cooperation Council (GCC) and China through a series of strategic engagements held in conjunction with the ASEAN-GCC-China Summit 2025 here today.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said Malaysia, as Chair of ASEAN 2025, remains committed to enhancing regional economic diplomacy that is inclusive, forward-looking and people-centric.
'Among the key highlights were bilateral meetings with delegations from China, including the Guangzhou Industrial Holdings Group and the China Council for the Promotion of International Trade.
'I also welcomed investment delegations from the United Arab Emirates (UAE), including the Abu Dhabi Investment Authority, as well as from the Qatar Chamber of Commerce and Industry,' he said in a statement today.
Discussions focused on strategic sectors such as logistics, halal industry development, artificial intelligence (AI), automotive and green energy.
Ahmad Zahid also chaired an engagement session between government delegations and business communities from Saudi Arabia and China, which focused on expanding bilateral investments, with Malaysia positioned as a strategic investment hub for the ASEAN region.
'This initiative further strengthens Malaysia's role as a key facilitator in linking the economies of ASEAN, the GCC and China in a more holistic and targeted manner.
'Today's sessions reflect strong international investor confidence in ASEAN, a region with over 680 million people and a combined GDP exceeding US$3.6 trillion, making it one of the world's fastest-growing and most strategic markets,' he said.
He added that Malaysia is not only hosting the summit but also demonstrating leadership by offering a stable investment environment, investor-friendly government policies and a clear, sustainable economic vision.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

FBM KLCI edges up at midday amid cautious market sentiment
FBM KLCI edges up at midday amid cautious market sentiment

The Star

time19 minutes ago

  • The Star

FBM KLCI edges up at midday amid cautious market sentiment

KUALA LUMPUR: Bursa Malaysia ended the morning session on a firmer note, with the FBM KLCI edging higher amid cautious market sentiment and lingering external headwinds. At the lunch break, the benchmark FBM KLCI rose 3.37 points, or 0.22%, to 1,520.16, after touching an intraday high of 1,521.64. There were 437 gainers, 370 losers and 425 counters traded unchanged on the Bursa Malaysia. Turnover stood at 1.68 billion shares valued at RM888.4mil. TA Securities said immediate resistance for the FBM KLCI remained at 1,564, with stronger hurdles at the recent high of 1,586 and then 1,610. Immediate support is at 1,490, with firmer support at 1,465 and 1,444. 'As for stock picks this week, key gaming, banking, construction, and technology heavyweights and lower liners such as Genting, Genting Malaysia, Maybank, Public Bank, MRCB, WCT Holdings, Globetronics, and Inari should again attract bargain hunters looking for potential recovery at current oversold levels,' it added. Meanwhile, Hong Leong Investment Bank Research said the FBM KLCI may continue to trend sideways with a slight upward bias, supported by last week's constructive call between Trump and Xi and the commencement of the second round of US-China trade talks in London today. That said, it noted that broader market sentiment remained cautious amid ongoing foreign outflows, uncertainty over the US-Malaysia tariff deal, and June's historically weak seasonality. 'Concerns are further amplified by a weakening global trade environment, ongoing macroeconomic headwinds, the Trump administration's unpredictable trade stance, and the potential for domestic subsidy rationalisation in 2H25 — all of which may cloud Malaysia's growth and earnings outlook,' it said. On Bursa Malaysia, Malaysian Pacific Industries led the gainers, climbing 70 sen to RM20.90. Ayer rose 36 sen to RM7.60, Chin Tek added 30 sen to RM9.10 and F&N climbed 26 sen to RM27.64. Meanwhile, the top decliner was Nestle, which lost RM2.48 to RM74.64. PETRONAS Dagangan fell 36 sen to RM20.64, LPI Capital eased 26 sen to RM14.64 and United Plantations gave up 22 sen to RM21.42. Hartanah Kenyalang saw active trading on its ACE Market debut, with 16.67 million shares changing hands as the stock eased 0.5 sen to 15.5 sen.

Yinson rises on news of Stonepeak's potential buyout offer
Yinson rises on news of Stonepeak's potential buyout offer

The Star

time19 minutes ago

  • The Star

Yinson rises on news of Stonepeak's potential buyout offer

KUALA LUMPUR: Shares of Yinson Holdings Bhd continued to rise in early trade Monday following news of a potential buyout, drawing sustained interest from investors. The oil and gas services firm climbed two sen to RM2.36, with 10.14 million shares traded as of 10.52 am. Year-to-date, the stock has declined about 9%. New York-based Stonepeak Partners is reportedly in exclusive talks for a buyout of Yinson, potentially valuing the firm at up to RM9bil (US$2.1bil), Bloomberg reported, quoting sources familiar with the matter. This could be one of the largest deals in Malaysia this year. ALSO READ: Stonepeak is said in exclusive talks for buyout of US$2.1bil Yinson CIMB Securities said that if the report is accurate, it could potentially lead to a privatisation offer for the remaining Yinson shares. It noted that the market responded positively, with Yinson's share price rising 13.8% on June 6 — its biggest gain since June 2019. The jump narrowed the stock's year-to-date loss from 33.7% to around 11.4%, lifting Yinson's market capitalisation to approximately RM6.5bil. "In our view, the exclusivity arrangement indicates that the deal has entered advanced stages of negotiation, with the Lim family, which is Yinson's founder, holding a 26.6% stake," it said. It added that the deal would also help Stonepeak expand its exposure in Asia Pacific energy infrastructure, where Yinson has already established a solid and growing footprint. CIMB noted that the implied valuation of about 9.5 times FY24 P/E, based on a RM9bil market capitalisation, is at a premium to the 8.2 times average FY24 P/E of Malaysia's leading independent floating production, storage, and offloading (FPSO) operators, SBM Offshore and Modec, which currently trade at P/Es of 4.8 and 11.6 times, respectively. 'In our view, this valuation appears justifiable, underpinned by Yinson's robust project backlog of US$20.5bil and its active portfolio of 8 FPSO contracts. Yinson's growing presence in emerging markets further supports this premium, positioning it for long-term structural growth. 'Furthermore, Stonepeak is expected to price in the strategic value of Yinson's expansion in FPSO contracts, particularly following Yinson's proactive steps to strengthen its financial capacity, including securing US$1bn in funding for its FPSO unit in Jan 2025 from a consortium of institutional investors; and growth in energy transition segments, including its solar and battery storage initiatives,' the research house said. CIMB has reaffirmed its FY26–28F EPS forecasts, buy rating, and sum-of-parts target price of RM2.93.

Myanmar aims to export over 350,000 tonnes of rubber in FY 2025-26
Myanmar aims to export over 350,000 tonnes of rubber in FY 2025-26

The Star

timean hour ago

  • The Star

Myanmar aims to export over 350,000 tonnes of rubber in FY 2025-26

YANGON: Myanmar aims to export 350,000 to 380,000 tonnes of rubber in the 2025-2026 fiscal year (April 2025-March 2026), an official from the Myanmar Rubber Planters and Producers Association told Xinhua on Sunday (June 8). In the 2024-2025 fiscal year, Myanmar exported about 300,000 tonnes of rubber, earning nearly US$500 million, according to the state-owned daily The Global New Light of Myanmar. Exports to China account for 75 per cent of Myanmar's total rubber exports, with the rest going to Malaysia, Indonesia, Vietnam, India and Japan, the report said. Rubber is grown on 0.56 million ha across the country. Mon State is the main producer of rubber, followed by Tanintharyi region and Kayin state, it added. - Bernama/Xinhua

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store