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Borneo Post
30-04-2025
- Business
- Borneo Post
From ‘roti canai' to ‘satay': Beloved Malaysian foods see prices nearly double over 13 years, says DOSM
DOSM's report, Analysis of Annual Consumer Price Index (CPI) 2024, showed that the price of roti canai rose by 71.1 per cent, from an average of 90 sen per piece in 2011 to RM1.54 in 2024. – File photo KUALA LUMPUR (April 30): Fancy roti canai for breakfast, nasi lemak for lunch, and satay for dinner, these beloved Malaysians' staples have almost doubled in price over the past 13 years, according to the Department of Statistics Malaysia (DOSM). The department's report, Analysis of Annual Consumer Price Index (CPI) 2024, showed that the price of roti canai rose by 71.1 per cent, from an average of 90 sen per piece in 2011 to RM1.54 in 2024, while nasi lemak increased by 81.3 per cent from RM2.03 to RM3.68 per plate. Chicken satay saw over two-fold rise in price, soaring 113.7 per cent from 51 sen per stick to RM1.09. Among others, the report indicated that big onions imported from India also saw a significant increase of 139.4 per cent, with prices climbing from RM2.89 to RM6.92 per kilogramme (kg) over the same period. As for other everyday essentials included in the analysis, fresh coconut milk rose from RM7.39 to RM11.54 per kg, and grated coconut increased from RM5.18 to RM8.33 per kg. Meanwhile, local beef prices in the meat category almost doubled from RM19.05 to RM37.84 per kg between 2011 and 2024. The steepest increase, however, was seen in cockles, which surged by 400.3 per cent, from RM3.04 to RM15.21 per kg. Earlier today, DOSM reported that Malaysia's inflation rose at a slower pace of 1.8 per cent in 2024 compared with 2.5 per cent in 2023, with the index points standing at 132.8 in 2024 versus 130.4 in the previous year. It said the country's inflation is in line with the global inflation rate of 5.7 per cent in 2024, slower that the 6.6 per cent recorded in 2023, citing the International Monetary Fund's World Economic Outlook Database, April 2025. CPI DOSM economy food Inflation price
New Straits Times
22-04-2025
- Business
- New Straits Times
Southern Steel sells 55pct stake in subsidiary for RM61mil
KUALA LUMPUR: Southern Steel Bhd is disposing of a 55 per cent stake, comprising 12.88 million shares in its subsidiary Southern Steel Mesh Sdn Bhd (SSM) to Singapore-based BRC Asia Ltd for RM61.05 million in cash. Upon completion of the deal, Southern Steel's stake in SSM will be reduced to 45 per cent, making BRC the majority shareholder. As a result, SSM will no longer be a wholly owned subsidiary of Southern Steel. In a Bursa Malaysia filing, Southern Steel said the deal is expected to be completed in the second half of 2025 (2H25). The company described the disposal as a strategic arrangement, allowing BRC to take control of SSM. As the majority stakeholder, BRC will steer SSM's strategic direction and manage its day-to-day operations. "Leveraging BRC's industry expertise, this partnership is expected to drive SSM's business expansion and operational efficiencies," it said. Southern Steel said of the total proceeds, RM60.23 million will be allocated for working capital purposes. "The proceeds will be primarily channelled towards, amongst others, payment to suppliers or creditors of the group, general administrative and daily operational expenses such as staff-related costs, utilities, statutory payments and other overhead expenditures. "The breakdown of such proceeds has not been determined at this juncture and will be dependent on the operating and funding requirements of the group at the time of utilisation," it said. The disposal is expected to incur a pro forma loss of RM15.21 million for Southern Steel and its subsidiaries. "Based on the audited consolidated financial statements of the company for the financial year ended June 30, 2024, the proposed disposal is not expected to result in the company becoming a cash company or a Practice Note 17 (PN17) company," it added.
