Latest news with #EastCoastRailLink
Focus Malaysia
2 days ago
- Business
- Focus Malaysia
Aluminium prices hold strong despite US tariff concerns
DESPITE ongoing uncertainties due to the US tariffs, we believe aluminium prices will remain supportive amid the tight global supply, albeit offset by moderating demand. 'We remain positive on the outlook for aluminium smelters mainly due to easing alumina costs,' said RHB. LME aluminium prices have been more volatile with the imposition of US tariffs, dropping to a low of USD2,300/tonne in April, but prices have since recovered to USD2,600/tonne. While the tariffs have raised concerns on slower demand for aluminium, LME aluminium prices are supported as the overall global supply remains tight amid delays in the ramping up of new smelting capacity in Europe due to high energy costs, and limited room to grow in China as it nears the 45m tonne annual production cap. That said, the Main Japanese Port (MJP) premium has fallen by 58% year-to-date (YTD) due to the higher supply in Asia following reduced interest in exporting to the US, whereas the US Midwest premium has risen 200% YTD. On the cost side, alumina prices have decreased 46% YTD, accounting for only 14% of LME aluminium prices, down from a peak of 31% in Dec 2024, as supply chain disruptions from Guinea eased. This bodes well for aluminium smelters, with a ramp-up in new refinery capacities in Asia. In the longer term, we remain positive on PMAH as it targets increasing alumina self-sufficiency from 23% currently to c.99% by 2027, with the new refinery project in Indonesia. Even if alumina prices fall further, Indonesia remains costcompetitive for alumina refineries due to its bauxite export ban. Conversely, carbon anode costs have risen 23% YTD, driven by higher petroleum coke prices, following supply disruptions. That said, margin should still be supported as carbon anodes make up a relatively small portion of smelting costs. Last week, the Transport Ministry formally approved the scheme for MRT Circle Line, or also known as MRT 3. Land acquisition is expected to be completed by end-2026, with contract awards and construction of the 51.6km line to begin in 2027. We believe this will boost demand for cement in the midlong term, and anticipate LMC to be one of the biggest beneficiaries, given its huge market share of 60-70%. Additionally, while LMC's cement supply contract for the East Coast Rail Link Phase 1 ended in 2024, management guided that it is still supplying cement for Phase 2, albeit without an exclusive contract. We note that bulk cement prices have remained stable at MYR380/tonne since Jul 2023, while coal prices have declined by 12% YTD, easing cost pressures for cement producers. Key downside risks are rising input costs and a global slowdown, which could tamper construction activity and weaken demand for aluminium and cement. —July 23, 2025 Main image: Aluminium Online
New Straits Times
4 days ago
- Politics
- New Straits Times
Jho Low reportedly living in luxury in China under unofficial protection
KUALA LUMPUR: Fugitive financier Low Taek Jho, better known as Jho Low, is reportedly living in luxury in China under unofficial protection, according to fresh claims by investigative journalists Bradley Hope and Tom Wright. Speaking in their podcast, Finding Jho Low, which aired on Friday, the authors of Billion Dollar Whale revealed that Low is allegedly residing in Shanghai's upscale Green Hills neighbourhood and operating under a forged Australian passport using the alias "Constantinos Achilles Veis." They claimed that former Prime Minister Datuk Seri Najib Razak had allegedly advised Low to flee the country as scrutiny of the 1Malaysia Development Bhd (1MDB) scandal intensified, prompting him to escape to China where he had familial ties in the Chiuchow region. "Despite being a fugitive, he is living comfortably, driving luxury cars and accompanied by Chinese security guards. It appears he is not under house arrest but enjoying an unrestricted life," Hope said in the podcast. Hope and Wright, who spent years tracking Low's global movements, also alleged that Malaysia lost as much as US$6 billion (RM28 billion) in Belt and Road Initiative-linked projects that were engineered with Low's involvement, mirroring the pattern of financial manipulation seen in the 1MDB scandal. Among the most revealing claims was that Low had allegedly cultivated ties with high-ranking Chinese political figures and intelligence officers, positioning himself as a "shadow broker" who influenced Malaysia's foreign policy tilt towards Beijing. The podcast also highlighted how Low allegedly played a role in corrupt infrastructure deals such as the East Coast Rail Link (ECRL) project, which involved bribes to Chinese officials, including former deputy public security minister Sun Lijun, who was later jailed for corruption. A turning point in the investigation came in 2019 when a photo of Low at Shanghai Disneyland surfaced. Analysts said the image helped identify his close-knit circle and added weight to claims that he is under unofficial protection by Chinese authorities. Hope and Wright suggested that Low has rebranded himself in China as a "dark arts coordinator," helping Chinese companies navigate complex regulatory environments, especially when dealing with the United States. "He is not just hiding. He is actively helping Chinese entities operate in hostile geopolitical terrain. That makes him valuable," Wright said. The journalists also claimed that Low had maintained an office at the Shanghai World Financial Centre, further suggesting he was actively engaged in financial or strategic work, rather than merely evading law enforcement. Much of the information shared in the podcast came from undisclosed documents and confidential sources, which the journalists said they could not reveal due to safety concerns. These revelations challenge earlier assumptions that Low was under house arrest or moving covertly from one location to another. Instead, they paint a picture of a man who remains influential and protected within a powerful foreign system. Law enforcement agencies, including those in Malaysia and the United States, may now have to recalibrate their approach in seeking Low's return as calls grow louder for accountability in the multibillion-dollar corruption scandal.
New Straits Times
5 days ago
- Business
- New Straits Times
ECRL extension to Rantau Panjang poised to boost manufacturing, border trade
KUALA LUMPUR: The proposed extension of the East Coast Rail Link (ECRL) from Kota Bharu to Rantau Panjang in Pasir Mas is poised to catalyse Kelantan's manufacturing sector and strengthen cross-border trade with Thailand. Kelantan Deputy Menteri Besar Datuk Dr Mohamed Fadzli Hassan said the state government has charted strategic development plans along the ECRL corridor to capitalise on its logistics and connectivity advantages. He said key among them is a Cargo Oriented Development (COD) at Pasir Puteh Station, aimed at attracting both domestic and foreign investors. The project is expected to spur high-value downstream activities, including logistics services, packaging, and raw material supply chains. Complementing this is a Transit Oriented Development (TOD) at Tunjong Station in Kota Bharu, envisioned as a new economic hub that integrates transport, commercial, and residential components — creating jobs and improving quality of life. Mohamed Fadzli said the extension is timely, as it aligns with Malaysia's bilateral initiative with Thailand to revive the existing KTMB line between Pasir Mas and Sungai Golok, reconnecting the countries' rail networks and boosting regional trade. The Kelantan government is advocating for the extension to reach Rantau Panjang, diverging from the original planned alignment to Tumpat. However, the proposal remains under review by Malaysia Rail Link Sdn Bhd (MRL) and the Ministry of Transport, he said during the State Legislative Assembly sitting at the Kota Darulnaim Complex today, in response to a question from Mohd Adanan Hassan (PAS–Kelaboran), Bernama reported. Transport Minister Anthony Loke had earlier confirmed that the ministry is evaluating the feasibility of the extension, noting its potential to strengthen logistical links between Malaysia and Thailand. The 665km ECRL project crosses the East Coast states of Kelantan, Terengganu and Pahang before connecting to Selangor on the West Coast of Peninsular Malaysia.
The Sun
5 days ago
- Business
- The Sun
Kota Bharu to Pasir Mas ECRL extension under study
KOTA BHARU: The proposal to extend the East Coast Rail Link (ECRL) from Kota Bharu to Rantau Panjang in Pasir Mas is still under review by Malaysia Rail Link Sdn Bhd (MRL) and the Ministry of Transport. Kelantan Deputy Menteri Besar Datuk Dr Mohamed Fadzli Hassan stated that the proposal aligns with plans to revive the railway link between Malaysia and Thailand. 'The Kelantan government is proposing that the ECRL line be extended to Rantau Panjang instead of the original alignment in Tumpat,' he said during the State Legislative Assembly sitting. The move aims to strengthen connectivity with Thailand, where discussions are ongoing to restore the Pasir Mas-Sungai Golok rail link under KTMB. Transport Minister Anthony Loke confirmed that the ministry is evaluating the proposal to enhance cross-border rail connectivity. Meanwhile, the Kelantan government has outlined strategic plans to maximize economic benefits from the ECRL project, including Cargo Oriented Development (COD) at Pasir Puteh Station and Transit Oriented Development (TOD) at Tunjong Station. 'The COD initiative will attract investments and stimulate downstream economic activities, while TOD will revitalize Tunjong as a new township,' Mohamed Fadzli added. The ECRL is set for full completion by end-2026, with Kota Bharu-Gombak operations starting in January 2027 and the Gombak-Port Klang line a year later. - Bernama
Barnama
17-07-2025
- Business
- Barnama
Malaysia's Real Estate Sector Records Steady Growth In 1H 2025
In its Real Estate Highlights for 1H2025 (REH 1H2025), which covers industrial, office, retail, hospitality, and residential segments, Knight Frank Malaysia highlighted that the market has been showing signs of stability despite global uncertainties. KUALA LUMPUR, July 17 (Bernama) -- Malaysia's real estate market recorded steady growth across key sectors in the first half of 2025 (1H 2025), supported by strong data centre investments, infrastructure development and resilient domestic demand, according to Knight Frank Malaysia. Johor, Penang and Sabah have emerged as industrial growth engines, while Sarawak is seeing increasing focus on green technology parks. According to the report, the industrial sector continued to expand, driven by data centre investments totalling RM163.6 billion in 2024 and supported by strategic infrastructure such as the East Coast Rail Link (ECRL), the Johor-Singapore Special Economic Zone (JS-SEZ), and Port Klang upgrades. Office markets in Klang Valley, Johor and Penang remained steady, with stable or improving occupancy rates and rental demand. Klang Valley is expected to see 4.2 million square feet of new warehouse supply by 2H2025, reshaping availability and pricing dynamics. Klang Valley is projected to add over two million square feet of new office space in 2025. In Johor Bahru, office rents rose between RM0.10 and RM0.40 per square foot in prime areas, supported by newer supply and steady absorption. Penang's office market held steady with minor occupancy improvements across Penang island and Seberang Perai. In Sabah and Sarawak, demand remained firm, underpinned by consistent tenant retention and infrastructure-driven confidence. Retail Sector Retail performance was steady nationwide, with Klang Valley expecting three million square feet of new retail space in 2H2025. Malls such as Sunway Pyramid and IOI City Mall are undergoing green and tech-focused upgrades to stay competitive. Retail occupancy in Johor Bahru stood at 72.4 per cent in the first quarter of 2025 (1Q2025), while Penang saw a slight dip to 72.1 per cent (4Q2024: 72.3 per cent), with activity balanced between island and mainland locations. Kota Kinabalu's retail occupancy edged up to 79.2 per cent (4Q2024: 78.9 per cent), supported by lifestyle-led and experiential retail offerings. Hospitality Sector The hospitality sector continued its recovery, recording more than 25 million visitors and RM102.2 billion in receipts in 2024. Kuala Lumpur holds 16.9 per cent of the country's total hotel room supply, and steady gains in occupancy and room rates were seen across key destinations. Sabah surpassed its 2024 tourism target with 3.1 million arrivals, and Sarawak exceeded its own with 4.8 million visitors, driven by events, improved connectivity and strategic branding. Residential Sector The residential sector was mixed. Kuala Lumpur recorded a 3.2 per cent year-on-year increase in home prices in 1Q2025, but saw an 8.7 per cent drop in transactions, pointing to a possible oversupply in high-rise units. Johor's residential market grew stronger with a 14 per cent jump in transaction value in 1Q2025, while Penang saw slight dips in high-rise transaction volume and values. Outlook and Caution Knight Frank Malaysia group managing director, Keith Ooi, said Malaysia's real estate market continues to demonstrate resilience despite global headwinds and increasing policy complexity. 'What we are seeing now is a more discerning market – investors and occupiers are sharpening their focus on long-term fundamentals, especially assets that can deliver sustainability, efficiency and adaptability,' he said. Meanwhile, its executive director of Research and Consultancy, Amy Wong, said the REH 1H2025 report highlights emerging opportunities in both established and developing regions across Malaysia. 'Infrastructure projects like the ECRL and JS-SEZ are lifting regional prospects, while the rise of environmental, social, and governance (ESG) standards, smart retailing, and demand for lifestyle-centric developments are reshaping the market landscape,' she said. Despite the positive outlook, the report also cautioned that certain challenges remain, particularly in the industrial and office segments, where infrastructure limitations, electricity costs, and talent shortages are influencing investment decisions. 'The office market may see more measured leasing activity as businesses contend with operational cost pressures and upcoming tax changes. 'In retail, while demand is underpinned by wage recovery and tourism, consumer sentiment may soften amid rising costs and fewer festive catalysts,' it said. It added that the residential sector is expected to remain resilient, but developers and investors must stay agile in navigating shifting market conditions and global headwinds. --BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
