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New Straits Times
4 days ago
- Business
- New Straits Times
Anwar: My visit to Singapore enhances cooperation between two countries
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim expressed optimism that his visit to Singapore today will enhance cooperation between Malaysia and the republic, bringing mutual benefits to both nations. Anwar said that during his visit, he met with his counterpart, Lawrence Wong, as well as President Tharman Shanmugaratnam. "We discussed key bilateral matters, including border issues, maritime affairs, renewable energy, and initiatives such as the Asean Power Grid. "We also reviewed ongoing projects, including the Johor Baru–Singapore Rapid Transit System Link, which is set for completion by late 2026, and the Johor–Singapore Special Economic Zone, which is expected to boost regional growth. "InsyaAllah, this visit will bring significant benefits and further enhance cooperation between Malaysia and Singapore across various strategic sectors. "May the friendship between both nations continue to be strengthened for our shared prosperity." Anwar was in Singapore to attend the 22nd Shangri-La Dialogue. Last year, Singapore was Malaysia's second-largest trading partner globally and the largest within Asean. Bilateral trade grew by 8.9 per cent to RM396.22 billion comprising RM230.86 billion in exports to Singapore and RM143.73 billion in imports.
Asharq Al-Awsat
27-05-2025
- Business
- Asharq Al-Awsat
Sultan of Oman, Dubai Crown Prince Discuss Bilateral Ties
Oman's Sultan Haitham bin Tarik held talks in Muscat on Monday with Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defense in the United Arab Emirates (UAE). Sheikh Hamdan conveyed the greetings and best wishes of Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to the Sultan and Omani people. The officials discussed the deep-rooted relations between Oman and the UAE. They also tackled areas of cooperation and partnership in various spheres that serve interest of the two countries' peoples, reported Oman's state news agency (ONA). Sheikh Hamdan bin Mohammed later witnessed the signing of an agreement to develop and operate the first phase of the Al Rawdah Special Economic Zone, located in the Wilayat of Mahadha, Al Buraimi Governorate, Oman, reported the UAE's state news agency (WAM). Phase 1 of the project will cover 14 square kilometers, with expansion plans to reach 25 square kilometers in Phase 2. The zone will benefit from direct connectivity to both Jebel Ali Port in Dubai and Omani ports, enhancing cross-border logistics. Under the agreement, Mahadha Development Company will be responsible for developing the infrastructure and facilities, preparing the masterplan and environmental studies, and designing the initial layout. The first phase will target a range of economic activities, including manufacturing, logistics, warehousing, pharmaceuticals, medical supplies, plastics, mining, food processing, and security and safety services - all provided through an integrated one-stop-shop service model. The Al Rawdah project is a strategic initiative that will leverage its geographic location to strengthen supply chains, re-export activity, and logistics connectivity between Oman, the UAE, and international markets. The zone will serve as a key engine of economic diversification aligned with the Dubai Economic Agenda D33 and Oman Vision 2040. It aims to attract foreign direct investment (FDI), increase industrial output, and create thousands of jobs as the zone scales over the coming decades.
India.com
25-05-2025
- Business
- India.com
Bangladesh in big trouble due to Yunus government's decision..., says India doesn't have...
Bangladesh in big trouble due to Yunus government's decision…, says India doesn't have… India-Bangladesh News: Amid the ongoing tensions with India, Bangladesh Industrial Development Authority (BIDA) Chairman Ashik Chowdhury made a statement that can further impact the relationship between the two countries. He said that India has no economic zone in Mirsarai in Chittagong district, adding that such initiatives exist only on paper. However, earlier, Dhaka had welcomed New Delhi's investment in Mirsarai. Notably, India had approved a loan of USD 115 million to build infrastructure in Bangabandhu Sheikh Mujib Industrial City's 900 acres of land. Bangladesh's Statement On Indian Project Chaudhry stated that the Indian Economic Zone is only written on paper, and no significant work has been done here. 'If we look at the main plan of the Mirsarai Economic Zone, it was planned for 33,000 acres of land. We have reduced it to 10,000 to 15,000 acres in the first phase. We do not need that much land. We can consider the remaining land in two or three phases,' Chaudhry said. 'The Indian Economy Zone here is only written on paper. It was part of the main plan, but no significant work was done on it,' he added. He said that there has been no development on this project since the interim government of Muhammad Yunus came to power in August last year (2024), The Project Is In 'Complete Suspension' Ashik Chowdhury said that the project is in a state of complete suspension, adding that Chittagong Port is the port of all Bangladesh; rather, it is very important for the entire South Asia, including the northeastern states of India, Nepal, and Bhutan. It is worth noting that India-Bangladesh relations deteriorated following Mohammad Yunus's comments on the northeastern states in front of China earlier this year. New Delhi banned Indian land ports for several goods from Bangladesh. India has banned the import of goods such as readymade garments, carbonated drinks, snacks, cotton and cotton yarn from Bangladesh through road routes. Earlier, Bangladesh had banned the import of yarn from India through land routes.
BusinessToday
23-05-2025
- Business
- BusinessToday
Malayan Cement's Outlook Mirrors Sectors' Robust Performance
Malayan Cement Bhd remains a top pick among analysts with unanimous BUY calls from RHB Investment Bank Bhd (RHB Research), MIDF Amanah Investment Bank Bhd (MIDF Research), CIMB Investment Bank Bhd (CIMB Securities) and Hong Leong Investment Bank Bhd (HLIB), each highlighting strong earnings performance and robust outlook amid a recovering construction sector. Target prices range from RM6.35 to RM7.49, signalling potential upside from the current RM4.85 market price. RHB Research maintained its BUY rating with a target price of RM6.71, citing 3QFY25 core earnings of RM183 million that surpassed expectations by 86-93%. The bank highlighted improved operational efficiencies, lower production costs and higher average selling prices (ASPs) in ready-mixed concrete as key profit drivers despite a slight dip in cement volume. The house noted that the company's net margin improved to 16.7% from 13.9% in the prior quarter and expects margins to remain strong with stable ASPs and easing coal prices. RHB raised its earnings forecasts for FY25-27 by over 12%, while trimming the target price earnings ratio to 14x to reflect a more moderate growth outlook. The bank flagged risks such as raw material cost inflation and a broader economic slowdown. MIDF Research also reiterated the call, boosted by an upward revision of FY26 earnings per share to 31.2 sen, pegged to a three-year mean price-earnings ratio of 24x. MIDF Research highlighted a strong 9MFY25 core net profit growth of 32.5% year-on-year, supported by gains in the concrete business and a healthy pipeline of civil and private sector projects including warehouses, data centres and the Johor-Singapore Special Economic Zone (SEZ). The bank pointed to the 3QFY25 operating profit surge in the aggregates and concrete segment, driven by a 20% increase in ready-mixed concrete sales volume primarily from industrial and commercial demand. CIMB Securities upgraded its target price slightly to RM6.35 following a 9MFY25 core profit of RM478 million that exceeded prior forecasts by 25%. The bank emphasised strong growth in the ready-mixed concrete division, which saw a 4.3 times increase in EBIT margins alongside 28% revenue growth. CIMB Securities noted that lower depreciation charges and finance costs also supported results. The house views Malayan Cement as well-positioned to benefit from upcoming infrastructure projects such as the Penang Light Rail Transit and Johor Automated Rapid Transit, particularly if parent company YTL Corp wins major tenders. The group's healthy net gearing of 31% and strong operating cash flows were cited as further strengths. HLIB retained its recommendation, highlighting 9MFY25 core PATAMI of RM490.3 million, surpassing both their and consensus full-year forecasts. The bank attributed earnings growth to operational efficiencies, stable ASPs and demand from high-grade ready-mixed concrete products used in data centres and industrial buildings. The research house pointed to sustained demand from key projects including the Johor Bahru-Singapore SEZ and Penang LRT, alongside cost discipline and lower borrowing costs as key positives. Despite a modest 5% quarter-on-quarter revenue decline, improved margins and reduced depreciation charges drove a 10.6% rise in core quarterly profit. HLIB projects a dividend yield of 4.0% and total expected return exceeding 57%. Across the board, analysts agree Malayan Cement is benefitting from a structural shift in the construction sector, with a rising contribution from ready-mixed concrete, operational cost improvements and a healthy project pipeline underpinning robust profit growth. While challenges from raw material inflation and economic uncertainties remain, the company's dominant market position and strategic initiatives support an optimistic medium-term outlook. Related
Time of India
23-05-2025
- Politics
- Time of India
India welcomes UK-Mauritius treaty on Chagos, reaffirms support for sovereignty
NEW DELHI: India on Wednesday welcomed the signing of a treaty between the United Kingdom and the Republic of Mauritius on the return of Mauritian sovereignty over the Chagos Archipelago, including Diego Garcia. Tired of too many ads? go ad free now In a press statement by the ministry of external affairs (MEA), India described the agreement as a milestone achievement and a positive development for the region. "We welcome the signing of the treaty between the United Kingdom and the Republic of Mauritius on the return of Mauritian sovereignty over the Chagos Archipelago, including Diego Garcia. The formal resolution of the longstanding Chagos dispute through this bilateral treaty is a milestone achievement and a positive development for the region. This is further to the understanding between the two sides reached in October 2024, and marks the culmination of the process of decolonisation of Mauritius in the spirit of international law and rules-based order," the statement said. India has consistently supported Mauritius's legitimate claim over the Chagos Archipelago, reiterating its position on decolonisation, sovereignty, and territorial integrity. The statement added, "India has consistently supported Mauritius's legitimate claim over the Chagos Archipelago in keeping with its principled position on decolonisation, respect for sovereignty, and the territorial integrity of nations. As a steadfast and longstanding partner of Mauritius, India remains committed to working closely with Mauritius and other like-minded countries to strengthen maritime security and regional stability and ensure peace and prosperity in the Indian Ocean region." Tired of too many ads? go ad free now Earlier in March, foreign secretary Vikram Misri reaffirmed India's support for Mauritius on the Chagos sovereignty issue, stating, "We have supported Mauritius in its stance on its sovereignty over Chagos. And this is obviously in keeping with our longstanding position with regard to decolonisation and support for sovereignty and territorial integrity of our other countries. And its only fitting for us to articulate this support for partners such as Mauritius. " Misri emphasised that India had made substantial contributions to Mauritius's maritime safety and security, and highlighted ongoing technical and development cooperation. During Prime Minister Narendra Modi's previous visit to Mauritius, several agreements were signed on enhancing maritime security, technical cooperation, ocean observation, and capacity building. India has provided vessels and assistance for maritime surveillance, and supports a range of projects from infrastructure to education, health, and the blue economy. "These facilities have also been assisting Mauritius in its maritime surveillance and patrolling of its vast Exclusive Economic Zone and in safeguarding the assets of its blue economy ecosystem from traditional and non-traditional maritime challenges," Misri said. India reaffirmed its commitment to deepening its partnership with Mauritius and contributing to the peace and prosperity of the Indian Ocean region, in line with international law and support for decolonisation.
