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BusinessToday
10 hours ago
- Business
- BusinessToday
Malaysia's Direct Investment Abroad Saw Higher Net Outflow Of RM33.9 Billion In 2024
Malaysia's Direct Investment Abroad (DIA) saw a notable increase in net outflow in 2024, reaching RM33.9 billion, up from RM30.1 billion in 2023. This marks a continued trend of Malaysian entities expanding their global footprint, although the overall DIA position experienced a slight decline. According to data released by the Department of Statistics Malaysia (DOSM) today, income generated from DIA climbed to RM43.2 billion in 2024, an improvement from RM40.9 billion in the previous year. However, the total DIA position, representing the accumulated value of Malaysian investments abroad, decreased from RM638.8 billion in 2023 to RM622.1 billion by the end of 2024. The Services sector was the primary driver of Malaysia's DIA net outflow, accounting for the largest share with RM28.7 billion. This highlights the growing internationalisation of Malaysian service-oriented businesses. Other significant contributions to outflows came from the Mining & Quarrying sector (RM4.3 billion) and the Construction sector (RM1.4 billion). Similarly, the Services sector also led in income generation from DIA, contributing a substantial RM31.4 billion. Following closely were the Mining & Quarrying sector with RM5.3 billion in income, and the Manufacturing sector, which recorded RM3.5 billion. In terms of the accumulated DIA position, DOSM said the Services sector remained the dominant contributor, totaling RM463.7 billion at the end of 2024, an increase from RM459.6 billion in 2023. This was trailed by the Mining & Quarrying sector (RM66.1 billion) and the Agriculture sector (RM46.5 billion). Geographically, Asia continued to be the largest recipient of Malaysian DIA flows, attracting RM26.5 billion. The primary destinations within Asia for these investments were Singapore and Indonesia. Asia proved to be the most lucrative region for Malaysian investments abroad, generating the highest income from DIA in 2024, amounting to RM26.6 billion. By the close of 2024, Asia maintained its lead in terms of DIA position, holding RM349.7 billion, further cementing its role as a key market for Malaysian companies venturing overseas. Related
Malaysian Reserve
24-04-2025
- Business
- Malaysian Reserve
MyAxis Group eyes LEAP Market listing to raise RM5.3m for expansion
FROZEN meat and processed meat producer MyAxis Group Bhd is set to list on the LEAP Market of Bursa Malaysia, aiming to raise RM5.29 million through a private placement of 44.1 million new shares at 12 sen apiece, implying a market capitalisation of RM40.9 million upon listing. The proceeds will be used to repay bank borrowings (RM3 million), purchase new machinery, support working capital, enhance branding and marketing, and cover listing expenses. MyAxis, through its wholly owned subsidiary KK Fresh Frozen Sdn Bhd, supplies frozen and processed poultry and red meat products, primarily to F&B operators and retail markets. It also plans to commence operations at a new halal-certified processing facility by August 2025, which will more than double its storage and processing capacity. The group posted a strong rebound in earnings, with net profit rising to RM1.75 million in the six-month financial period ended March 2025, up from RM0.10 million a year earlier, driven by higher-margin processed meat sales. Promoters Datuk Tan Hwa Sing and Khoo Lay Tatt will remain majority shareholders post-listing, with 90% and 10% stakes respectively. Looking ahead, MyAxis intends to pursue industry certifications including Halal, MESTI, GMP, HACCP, and VHM, and expand its processed meat line to capture growing demand in Malaysia and the broader halal food segment. ZICO Evolve Capital Sdn Bhd is the approved adviser for the IPO. –TMR
