Brunei is heavily dependent on its hydrocarbon resource wealth, which provides more than half of the nation’s income. The government has highlighted its concerns about the nation’s oil dependence, which leaves it vulnerable to economic shocks. Brunei sees diversification as integral to its economic development and has outlined plans to reduce oil dependency and develop other … [Read more...] about Moving Away from Oil: How Can Brunei Diversify its Economy?
KUALA LUMPUR: Malaysia’s food inflation is set to stay on an upward path in the coming months amid elevated global commodity prices, domestic supply chain disruptions and depreciation of the ringgit. MIDF Research said Malaysia, as a net food-importing country, is highly exposed to global shocks in the food supply-chain. ALSO READ: Prices of chicken dishes may go up … [Read more...] about Malaysia highly exposed to global shocks in food supply chain
KUALA LUMPUR: Boustead Plantations Bhd ’s net profit surged to RM435.16mil in the first quarter ended March 31, against RM12.22mil a year ago on disposal gain and higher palm product price. The planter recorded a pretax and zakat of RM509.5mil. This includes a gain on disposal of Kulai Young land of RM364.1mil. “Excluding the gain, the operational unaudited profit … [Read more...] about Boustead Plantations’ net profit surges to RM435mil in 1Q
KUALA LUMPUR: Share prices on Bursa Malaysia closed lower on Monday as worries grow that the Fed’s interest rate increases will slow the economy. At closing, the FBM KLCI ended 6.59 points, or 0.43% at 1,542.53. It dipped to an intraday low of 1,540.09 and hit an intraday high of 1,556.43. The broader market displayed its weakness as profit-takers triumphed over … [Read more...] about FBM KLCI pares losses but still in red
Inflationary pressure INFLATION data for April 2022, which will be the key focus this week, is expected to remain at around 2%. Malaysia’s consumer price index (CPI) in March 2022 rose 2.2% to 125.6 against 122.9 in March 2021, surpassing the average inflation for the January 2011 to March 2022 period which stood at 1.9%. Bloomberg estimates a 2.2% growth year-on-year … [Read more...] about The week ahead – Inflationary pressure, Singapore CPI, GDP, Monetary policy decisions