KUALA LUMPUR: The local iron and steel industry is facing major challenges resulting from the lack of activities in China’s construction sector, Deputy Investment, Trade and Industry Minister Liew Chin Tong said. To address this challenge, the government implemented two important decisions, one of which is a two-year moratorium to
KUCHING: Zecon Bhd’s wholly-owned subsidiary Zecon Land Sdn Bhd will purchase the mixed development project in Petra Jaya here from PRIMA Corporation Malaysia (PRIMA) and/or PRIMA Development Sdn Bhd (PDSB) (vendors) for RM63.56 million. The purchase sum include the land cost. According to Zecon, the vendors have agreed that the
KUCHING: The United Kingdom (UK) has recorded an all-time low imports of tropical wood and wood furniture in 2023 as the country fell into recession. Last year, UK imported 395,000 tonnes of tropical wood and wood furniture products worth a total US$940 million, and this was 13 per cent and
KUCHING: Sarawak has the worst overhang problem for industrial property among the states in Malaysia. In 2023, Sarawak dominated the number of overhang industrial property, with 323 units or 40 per cent of the country’s total 808 units, according to National Property Information Centre (NAPIC) data released recently. Johor came
KUCHING: Japan has spent nearly RM200 million for the imports of wooden office furniture, kitchen furniture, wooden bedroom furniture as well as wooden furniture parts from some 25 countries, including Malaysia, in December 2023. The single biggest import bill of RM86.4 million is on wooden bedroom furniture (HS 940350), followed
KUCHING: Indonesia has reported lower log production volumes from both its natural forest concessions and plantation forest concessions last month as compared to a year ago due to the weak timber prices and sluggish market. In February 2024, Indonesia’s log production from natural forests fell by 22 per cent from
KUCHING: Perdana Petroleum Bhd’s (PPB) wholly-owned subsidiary Perdana Nautika Sdn Bhd (PNSB) has received letters of award from Dayang Enterprise Holdings Bhd for the charter of one unit of anchor handling tug & supply (AHTS) vessel and one unit of accommodation work barge (AWB) for a total contract value of
KUCHING: Ta Ann Holdings Bhd group profit has plunged by more than 50 per cent (pct) to RM156.4 million in financial year ended Dec 31, 2023 (FY2023) from RM320.5 million in FY2022 due to lower average selling prices of crude palm oil (CPO), fresh fruit bunches (FFB) and plywood products
KUCHING: Press Metal Aluminium Holdings Bhd group net profit has dropped to about RM1.21 billion for financial year to Dec 31, 2023 (FY2023) from about RM1.41 billion in FY2022 due to the softening of the metal price. The lower earnings were in line with drop in group revenue to RM13.8
KUCHING: China has reduced by double digits the imports of tropical and softwood logs in 2023, and paid much cheaper average prices for such logs from exporting countries. Log imports in 2023 totalled 38.03 million cubic metres (cu m) valued at about US$6.38 billion, down 13 per cent in volume