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MONDAYReport: Cross-Borders Railways Bill Passed In S’pore ParliamentSINGAPORE -- The Cross-Border Railways Bill was passed in Singapore Parliament Monday on its third reading, Channel NewsAsia reported. The report said the Bill will govern within Singapore’s two upcoming rail links -- namely the Kuala Lumpur-Singapore High-Speed Rail (HSR) which is expected to start passenger service in 2026, and the Rapid Transit System (RTS) connecting Woodlands in Singapore to Bukit Chagar in Johor Bahru, which is expected to be operational in 2024.

TUESDAYCo-Op Sector To Hit RM50 Bln Turnover TargetMELAKA -- The country’s cooperative

MALAYSIAeBiz March 23, 2018

This Week’s Highlight :Malaysia A Strong Economy In Global Context

- Stanchart

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WEEKLY BUSINESS ROUNDUP 19 - 23 MARCH 2018

This Week’s Top Stories

© 2018 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.

growth this year.“We see strong fiscal discipline, which is important, a stable and strong currency and growing exports,” he told reporters after his 30-minute meeting from 9.30 am with Prime Minister Datuk Seri Najib Tun Razak here Friday.

Edition 204

KUALA LUMPUR -- Malaysia stands out as a strong economy in the global context, says Standard Chartered Bank Group Chief Executive, William T. Winters. “We are very positive on the Malaysian economy. Growth in 2017 was particularly strong and we expect another good year of

sector has so far achieved a turnover of more than RM40 billion and is expected to hit its target of RM50 billion revenue in the near term, in line with the National Co-operative Policy’s objective. Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin said Tuesday, by achieving the target, through various economic activities undertaken by co-ops, it would help boost the country’s Gross Domestic Product.

WEDNESDAYRetailers Prohibited From Imposing Surcharges For Debit, Credit Card PaymentsKUALA LUMPUR -- Retailers are not permitted to impose surcharges for payments using debit cards under the

Payment Card Reform Framework and a similar prohibition is applied for credit card payments under the rules of international card schemes such as Visa and Mastercard under the Payment Card Reform Framework, said Bank Negara Malaysia (BNM) Wednesday.It said the response provided by the Deputy Finance Minister in the Dewan Rakyat was with reference to the interest imposed by credit card issuers on cardholders for outstanding credit card balances that were overdue and not on surcharges imposed by retailers on credit and debit card transactions.

THURSDAY

Govt To Continue With GST Due To Proven EfficiencyPUTRAJAYA -- The Barisan Nasional government will stick to the goods and services tax (GST) since the tax system has proven to be efficient for Malaysia, said Second Finance Minister Datuk Seri Johari Abdul Ghani. “With GST, we expect revenue to increase as we are able to efficiently manage our tax system. GST is the most efficient system in the world. Even in some countries that have changed the government, the new government that took over never reversed the system, he said after launching the ministry’s annual open day here Thursday.

FRIDAY

SEB Sees Potential Power Devts In North Kalimantan, MyanmarKUCHING -- Sarawak Energy Bhd (SEB), under its regional ambition to realise the Asean Power Grid, will export power to West Kalimantan, which has already started in 2016, study the potential power export to Sabah and Brunei as well as to study potential power developments in North Kalimantan and Myanmar. Its Group Chief Executive Officer, Sharbini Suhaili, said Friday, in a couple of years, SEB would focus on power export to West Kalimantan, Sabah and Brunei before embarking on possible ventures in North Kalimantan and Myanmar.

Datuk Seri Najib Tun Razak extending a warm handshake to Standard Chartered Group Chief Executive WIlliam T. Winters when the latter called on the prime minister at his office in Parliament Friday. -- fotoBERNAMA by Mohd Afiz Hambali

SMEbrief

PropertyupdatePropUPLegasi Azam To Sell Land For RM323 Mln To PerkesoKUALA LUMPUR -- Legasi Azam Sdn Bhd has signed a sale and purchase agreement with Pertubuhan Keselamatan Sosial (PERKESO) for the disposal of a 0.76-hectare of freehold land at No.16, Jalan Kia Peng, Kuala Lumpur for RM323 million.Legasi Azam is an indirect wholly-owned unit of of Malaysian Resources Corp Bhd (MRCB).In a filing to Bursa Malaysia Monday, MRCB said, the disposal allowed the group to focus on its bigger property development projects such as ones in Bukit Jalil, Cyberjaya, PJ Sentral and Kwasa Sentral and at the same time has the flexibility to reallocate its cash flows and resources efficiently among those projects.

KSL Holdings Units Acquire Land For RM176.93 MillionKUALA LUMPUR -- KSL Holdings Bhd units, Gantang Jaya Sdn Bhd (GJSB) and Bintang-Bintang Development Sdn Bhd (BDSB), have acquired nine parcels of freehold land for RM176.93 million from Pulai Springs Resort Bhd.In a filing to

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SME Corp’s Hub 2018 To Boost Cashless TransactionsKUALA LUMPUR -- SME Corporation Malaysia (SME Corp) will be organising the first Bumiputera Entrepreneurs Gathering 2018 (Hub 2018) carnival, to be held March 30-31. SME Corp Chairman, Tan Sri Dr Mohamed Al Amin Abdul Majid, said visitors and exhibitors would have to use the e-wallet application (app) to conduct any transactions during the carnival.

TUBE Programme Generates RM54.6 Mln SalesKUALA LUMPUR -- The Tunas Usahawan Belia Bumiputera (TUBE) Programme, which was implemented to encourage youths to venture into business, has succeeded in generating a cumulative sales value of RM54.6 million to-date. In a statement here Monday, Deputy Minister of International Trade and Industry, Datuk Seri Ahmad Maslan, said the government’s

Bursa Malaysia Tuesday, KSL said, GJSB and BDSB had acquired three and six parcels of freehold land respectively and the payments would be fully satisfied in cash.

Pasukhas Goup Bags Sub-Contract Works Worth RM41.3 MlnKUALA LUMPUR -- Pasukhas Group Bhd’s 73 per cent-owned subsidiary, Pasukhas Construction Sdn Bhd, has bagged sub-contract works with a combined value of RM41.3 million from Paramount Property Construction Sdn Bhd.In a filing with Bursa Malaysia Tuesday, the company said, Pasukhas Construction would undertake superstructure works for hotels valued at RM7.65 million and superstructure works for serviced apartments worth RM33.65 million.

Hilton To Introduce More Luxury Brands In M’siaBy Kenny Teng Khoon Hock

GEORGE TOWN -- Hilton plans to introduce more luxury brands into the Malaysian market in future, including

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Canopy and Conrad, in an effort to become one of the largest International hotel chains in the country.“We are aiming to become the largest International hotel chain in Malaysia over the next few years.To achieve this, we are interested in bringing in our luxury brand, Conrad, in future,” Hilton Malaysia Regional General Manager, Jamie Mead told Bernama on the sidelines of the DoubleTree Resort hotel media preview here on Thursday.

Over 600,000 Houses To Be Offered At PR1MA ExpoKUALA LUMPUR -- Over 600,000 homes will be offered at the national level housing expo organised by PR1MA Corporation Malaysia (PR1MA) from tomorrow until April 1, 2018.

Chief Executive Officer, Datuk Abdul Mutalib Alias said Friday, “We are going to feature houses located throughout the country because we want to help those in the Bottom 40 and Middle 40 income groups who are working and living in the Klang Valley, but may want to make purchases in other states and settle down there.”

initiative has also resulted in the creation of 4,352 new job opportunities.

Bumi Entrepreneurs Receive RM2.5 Mln Financial AidBALIK PULAU -- A group of 71 Bumiputera entrepreneurs in Penang had received over RM2.5 million in assistance in the forms of business grants and loans for expansion. Datuk Dr Muhamad Farid Saad, Chairman of the Focus Group for the Development of Bumiputera Entrepreneurs and Cooperatives Penang, said Monday, the entrepreneurs had received financial grants for advertisements, machineries as well as loans under the Entrepreneurs Business Capital Scheme (SMPPU).

Smita Malaysia, 11street To Tap Markets In ThailandBy Mohd Haikal Mohd Isa

BANGKOK -- The Malaysian small and medium enterprises (SMEs) will be able to

sell their products and services in Thailand now through the 11street e-commerce marketplace in the country. SME International Trade Association (SMITA Malaysia)’s National President Megane S.C. Soo said Monday, the collaboration with 11Street is one of many initiatives of SMITA to assist Malaysian SMEs export their products and services.

MIHAS 2018 Platform For Sarawak Entrepreneurs To Showcase ProductsKUCHING – The Malaysia International Halal Showcase 2018 (MIHAS 2018), organised by Malaysia External Trade Development Corp (Matrade), is a platform for Sarawak entrepreneurs to showcase local products at an international level. Matrade Sarawak Director Leany Mokhtar said Friday, MIHAS 2018 would also serve as a medium to identify and promote local products and help the local industries grow further and boost domestic exports.

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Bursa Malaysia Eases On Selling PressureBy Mohd Khairi Idham Amran

KUALA LUMPUR -- Bursa Malaysia finished the week lower Friday on selling pressure as investors were concerned about the trade war between US and China. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 11.65 points lower at 1,865.22 from Thursday’s close of 1,876.87. The key index opened 16.29 points lower at 1,860.58 and moved between 1,857.26 and 1,867.16 throughout the day. Affin Hwang Investment Bank Vice-President/ Head of Retail Research, Datuk Dr Nazri Khan Adam Khan, said the selling pressure was caused by knee-jerk reaction and could be seen across Asia, Europe and US. “But I expect this is only to be a short term. When it becomes a reality, the market will recover,” he told Bernama. He said US proposal to impose tax on Chinese imports was not expected to impact Malaysia much as the country mostly exported directly to the US. “Countries that are most affected are those that have global production chain of Chinese export such as South Korea and Taiwan. These countries exported to Chinese first before exporting further to US,” he said. Nevertheless, he said, other countries’ reaction to US protectionism policy could pose a threat to Malaysia as an exporting country. “These protectionism policy will cause other countries to react and that is what we fear,” he added. Market breadth was negative with losers


MARKET

Exchange Rate(Ringgit : Foreign Currency)

USD

EUR

GBP

100 YEN

SGD

Buying

3.9150

4.8245

5.5170

3.7318

2.9756

Selling

3. 9200

4.8318

5.5248

3.7383

2. 9799 CLOSING MALAYSIAN FOREIGN EXCHANGE:

March 2, 2018

ScoreboardGainers - 190

Losers - 827

Not Traded - 558

Unchanged - 320

Value - 2152730304

Volume - 20922540

FOREX: Ringgit Ends Lower Against US DollarKUALA LUMPUR -- The ringgit ended lower against the US dollar Friday, tracking the performance of most Asian currencies on heightened worries over a US trade war with China, dealers said. At 6 pm, the local note was quoted at 3.9150/9200 against the US dollar compared with Thursday’s 3.9120/9150. OANDA Head of Trading Asia-Pacific Stephen Innes said trade wars dominated the landscape of the market Friday and risk assets were traded weaker across the board as regional equity markets collapsed under the weight of the US protectionism. “The ringgit was caught in the middle between diverging themes. On the one hand, local equities markets traded poorly, but a broadly weaker US dollar kept the local unit in check after the initial regional risk induced sell-off,” he said. The ringgit traded mostly lower against a basket of major currencies, except the British pound. It slipped versus the euro to 4.8245/8318 from 4.8243/8299 on Thursday and was lower against the yen at 3.7318/7383 from 3.7028/7074. The local currency fell against the Singapore dollar to 2.9756/9799 from 2.9735/9770 but appreciated against the British pound to 5.5170/5248 from 5.5312/5370 on Thursday.

Short-Term Rates Close Steady On BNM’s Operations To Absorb LiquidityKUALA LUMPUR -- Short-term interbank rates closed steady Friday on Bank Negara Malaysia’s (BNM) operations to absorb the liquidity surplus in the financial system. The surplus in the conventional system fell to RM22.25 billion from RM27.995 billion earlier, while in the Islamic system, it eased to RM9.241 billion from RM11.486 billion. BNM called for six tenders, comprising three conventional money market tenders, two Qard tenders, as well as Bank Negara Interbank Bills. The central bank also conducted a RM22 billion conventional money market tender and RM9.2 billion Qard money market both for three-day money. The average overnight interest rate stood at 3.19 per cent, while the one-, two- and three-week rates were pegged at 3.26 per cent, 3.30 per cent and 3.35 per cent, respectively.

KLIBOR Futures Contract Closes UntradedKUALA LUMPUR -- The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract on Bursa Malaysia Derivatives closed untraded Friday. Spot month April 2018, May 2018 and June 2018 and September 2018 were pegged at 96.30, 96.29, 96.27 and 96.27, respectively. Both volume and open interest remained nil. At the 11 am fixing, the underlying three-month KLIBOR stood at 3.69 per cent.

KLCI Futures Contract Closes LowerKUALA LUMPUR -- The FTSE Bursa Malaysia KLCI futures (FKLI) contract on Bursa Malaysia Derivatives closed lower Friday, dampened by the weaker cash market. Spot month March 2018 and June 2018 lost 16.5 points each to 1,856.5 and 1,850, respectively, March 2018 shed 17 points to 1,853.5 and September 2018 fell 17.5 points to 1,844.5. Turnover rose to 7,928 lots from Thursday’s 5,287 lots and open interest increased to 34,441 contracts versus 30,795 contracts previously. The underlying benchmark FBM KLCI closed 11.65 points lower at 1,865.22.

.

thumped gainers by 827 to 190, with 320 counters unchanged, 558 untraded and 18 others suspended. Main Market volume declined to 2.09 billion units worth RM2.15 billion from 2.28 billion units worth RM2.06 billion on Thursday.

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Banking &Finance

Affin Bank, ABS Collaborate On Operational Risk ProgrammeKUALA LUMPUR -- Affin Bank Group (Affin) is collaborating with the Asian Banking School (ABS) for a customised programme on operational risk review, and scenario analysis awareness and implementation. In a joint statement Monday, they said the programme would improve Affin’s operational risk management practices, build robust methodologies and a multidimensional approach to develop and analyse operational risk scenarios.

Mudajaya’s Unit Secures RM90 Mln FinancingKUALA LUMPUR -- Mudajaya Group Bhd’s (MGM) unit, Mudajaya Corporation Bhd, has secured Islamic financing facilities of RM90 million from Kuwait Finance House (M) Bhd to, among others, part-finance infrastructure contracts it secured. “The funding will also be used for tender, performance bond and advance payment guarantee favouring government, statutory bodies, government agencies or government-linked companies,” it said in a filing to Bursa Malaysia Tuesday.

BNM To Launch VBI Scorecard In OctoberKUALA LUMPUR -- Bank Negara Malaysia (BNM) is expected to launch the value-based intermediation (VBI) scorecard in October this year, in conjunction with the Global Islamic Finance Forum. BNM Islamic Banking and Takaful Department


Director, Mohd Zabidi Md Nor told reporters Tuesday, the scorecard aims to measure how Islamic financial institutions adopt the VBI initiative by conducting their businesses based on the triple bottom line of people, profit and planet.

Affin Hwang AM, AIIMAN Reaffirm Commitment To ESG PrinciplesKUALA LUMPUR -- Affin Hwang Asset Management Bhd (Affin Hwang AM) and its wholly-owned subsidiary, AIIMAN Asset Management Sdn Bhd (AIIMAN), have reaffirmed the commitment to environmental, social, governance (ESG) principles in the investment process as signatories to the Malaysian Code for Institutional Investors. Affin Hwang AM and AIIMAN became signatories to the code on March 24, 2017 and March 22, 2017 respectively, they said in a joint statement Wednesday.

BNM International Reserves At US$103.9 Bln As At March 15KUALA LUMPUR -- Bank Negara Malaysia’s (BNM) international reserves stood at US$103.9 billion as at March 15, 2018. In a statement Thursday, the central bank said the reserves position was sufficient to finance 7.3 months of retained imports and was 1.1 times the short-term external risk. BNM said the main components of the international reserves were foreign currency reserves (US$97.4 billion), International Monetary Fund reserves position (US$0.8 billion), Special Drawing Rights (SDRs) (US$1.2 billion), gold (US$1.5 billion), and other reserve assets (US$3.0 billion).

Digitisation Offers Enormous Potential For Financial Sector - BNMKUALA LUMPUR -- Digitisation offers enormous potential for the financial sector to achieve what was not possible before, said Bank Negara Malaysia Deputy Governor, Jessica Chew Cheng Lian. She said Thursday, the transition to a digital economy itself called for a re-orientation of the financial sector to meet the new business demands for financial services and on both counts, the financial industry could, and in fact ought to be, powerful agents of change.

MATTA Opposes Prohibition Of Credit Card SurchargeKUALA LUMPUR -- The Malaysian Association of Tour and Travel Agents (MATTA) is unhappy with the prohibition of a surcharge on credit card payments, as it can inconvenience members and the travelling public. President, Datuk Tan Kok Liang said travel agencies and tour companies operated on low margins, unlike retail outlets at shopping malls. “As such, a surcharge has to be imposed on credit card payments just to recover the cost of the merchant discount rate (MDR) charged by banks,” he said in a statement Friday. He said the easy way out for travel agencies and tour companies was to embed the MDR into the pricing, but it would be unfair to the vast majority of customers who paid by cash, cheque or online. “It would benefit consumers more when charges are transparent and kept as low as possible,” he added.

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The BOTTOM LineLafarge Unit Secures RM270 Mln ECRL ContractKUALA LUMPUR -- Lafarge Malaysia Bhd’s wholly-owned subsidiary, Lafarge Cement Sdn Bhd, has clinched a RM270 million contract from China Communications Construction (ECRL) Sdn Bhd to supply cement for the proposed East Coast Rail Link project. In a filing with Bursa Malaysia Monday, the cement producer said, it would provide cement for all eight work packages under the project.

MATTA Fair Pulau Pinang Eyes RM20 Mln In SalesGEORGE TOWN -- The Malaysian Association of Tour and Travel Agents (MATTA) expects to achieve RM20 million in sales at the three-day MATTA Fair Pulau Pinang, to be held from March 30, 2018. MATTA Immediate Past President, Datuk Hamzah Rahmat told a media conference Tuesday, various offers and attractive packages

would be available for visitors wishing to choose destinations for their dream vacation.

Commerce DotAsia To Raise RM105 Mln Via ECFKUALA LUMPUR -- Technology venture builder Commerce DotAsia Ventures Sdn Bhd aims to raise RM105 million through equity crowdfunding (ECF) within a year. Executive Chairman and Founder Ganesh Kumar Bangah told reporters Wednesday, RM105 million would be raised in two stages via ECF, and the funds would be invested into technology enablers over the next three to four years.

GFM Services Sees Earnings Boost From KPMD AcquisitionKUALA LUMPUR -- Integrated facilities management services provider, GFM Services Bhd, whose shareholders Wednesday approved its proposed purchase of a 100 per cent stake in

KP Mukah Development Sdn Bhd (KPMD) for RM130 million, expects its earnings to more than double following the acquisition. KPMD holds a 23-year concession awarded by the government and Universiti Teknologi Mara (UiTM), which entails three years of the design, build and construction of UiTM Mukah campus in Sarawak, and 20 years for the delivery of facilities management services ending September 2035.

Chemical Sector To See Further Growth If More Big Players Participate In Rapid ProjectKUALA LUMPUR -- Malaysia’s chemical industry is poised to continue growing this year, with approved investments in the chemical and chemical products sectors to surpass the RM4.1 billion chalked up in 2017 if more big players participate in the Refinery and Petrochemical Integrated Development (RAPID) project. Chemical Council Industries of Malaysia (CICM) Deputy Chairman, Datuk Muhtar Hashim told reporters Wednesday, there were more opportunities for the local and international players in the downstream petrochemical sector to set up manufacturing plants within the RAPID area.

Sapura Energy Unit Gets Mubadala Petroleum ContractKUALA LUMPUR -- Sapura Energy Bhd’s wholly-owned unit, Sapura Fabrication Sdn Bhd, has secured a contract from Abu Dhabi’s Mubadala Petroleum for works on Block SK320 - Pegaga Development Project offshore Sarawak. The company said in a filing to Bursa Malaysia Wednesday, the scope of the works comprised engineering, procurement, construction, installation and commissioning of the offshore integrated central gas processing


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MALAYSIAeBiz The BOTTOM Lineplatform facility in Sarawak.

NGL Tech Ventures Into Middle EastKUALA LUMPUR -- Oil and gas (O&G) technology development company, NGL Tech Sdn Bhd, is venturing into the Middle East market through a partnership with a local company there which uses NGL’s low pressure condensate recovery system (LP CRS). Managing Director, Ir Arul Jothy told a press conference Wednesday, the partnership agreement was expected to be concluded by April. “The project is worth RM25 million and needs to be delivered in eight months,” he said.

Lazada Is Most Visited e-Commerce Site In 2017KUALA LUMPUR -- Lazada is the most visited e-commerce site in Malaysia, recording a 13.8 million increase in the number monthly average visitors between the third (Q3) and fourth quarter of 2017. A study from iPrice Group reported Lazada led its nearest competitors, namely 11street (which recorded an increase of 5.9 million average visitors) and Shopee (an increase of 5.3 million average visitors) over the same period. “Lazada, supported by Alibaba, will continue to flourish as investors from China have shown interest to invest up to US$2 billion (RM7.83 billion) in the platform,” iPrice Group said in a statement Wednesday.

February CPI Rises By 1.4 PctKUALA LUMPUR -- Malaysia’s Consumer Price Index (CPI), which measures headline inflation, rose by 1.4 per cent in February 2018 from the

corresponding month of the preceding year, mainly due to food and beverages as well as furnishings and household equipment. Among the major groups which recorded increases were the indices for health (+2.1 per cent), housing, water, electricity, gas and other fuels (+2.0 per cent) as well as restaurants and hotels (+1.8per cent),” the Department of Statistics (DoS) announced Wednesday.

LTAT Declares 12.5 Pct Dividends, Bonuses For FY17KUALA LUMPUR -- Lembaga Tabung Angkatan Tentera (LTAT), or the Armed Forces Fund Board, has declared total dividends and bonuses of 12.5 per cent for financial year ended Dec 31, 2017 (FY17). In a statement Thursday LTAT said, the payment comprised six per cent dividend and 6.5 per cent special bonus in the form of unit trusts for active members. LTAT said this followed a record profit in FY17 whereby it has registered a substantial 12.1 per cent increase in unaudited net profit of RM667.1 million compared with the previous year’s RM595 million.

Muhibbah’s JV Firm Bags RM32.7 Mln LRT3 ContractKUALA LUMPUR -- Muhibbah Engineering (M) Bhd, via a 49 per cent-owned joint-venture company, has secured a contract worth about RM32.7 million from Prasarana Malaysia Bhd. In a filing with Bursa Malaysia Thursday, the company said the deal involved the design, supply, delivery, installation, testing and commissioning of noise barrier for the stretch of Light Rail Transit

Line 3 from Bandar Utama to Johan Setia. Construction works, to start immediately, would be completed by the fourth quarter of 2019, Muhibbah said.

Maxis Aims To Sign Up 10,000 Students To Access ‘e-kelas’ Portal By Year-End KUALA LUMPUR -- Maxis Bhd aims to have 10,000 students access the “eKelas” portal by year-end and 100,000 by 2022. The communications and Internet service provider said since it was launched last year, the eKelas now had over 4,000 students in terms of class population and also those interacting within the portal. Maxis Chairman, Raja Tan Sri Arshad Raja Tun Uda told a press conference Thursday, the company has 118 Pusat Internet 1Malaysia (PI1Ms) under its care nationwide and to-date, 45 PI1Ms in 10 states were participating in the eKelas programme.

Eraman Optimistic Of Maintaining Double-Digit Revenue Growth In 2018By Nurunnasihah Ahmad Rashid

KUALA LUMPUR -- Malaysia Airports (Niaga) Sdn Bhd (Eraman), a subsidiary of Malaysia Airports Holdings Bhd (MAHB), is optimistic of maintaining its double-digit growth in revenue this year, following its upcoming promotions and campaigns. MAHB Managing Director Datuk Badlisham Ghazali told Bernama Thursday, Eraman’s revenue grew 15 per cent in 2017, accounting for about 18.4 per cent of MAHB’s airport operations’ business revenue.

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ASEAN Green Bond Standards Gain TractionKUALA LUMPUR -- The ASEAN Green Bond Standards have gained encouraging traction, with three issuances from Malaysia and Singapore carrying the ASEAN Green Bond label since their launch in November 2017. The first sovereign sukuk in ASEAN issued by Indonesia was aligned with the ASEAN Green Bond Standards, the ASEAN Capital Markets Forum (ACMF) said in a statement Monday.

Cyber Security A Shield For Nation’s Economic DevtKUALA LUMPUR -- Cybersecurity acts a shield for the nation’s economic development and societal well-being, said Science, Technology and Innovation (MOSTI) Minister, Datuk Seri Wilfred Madius Tangau. He told reporters Monday, the challenge lay in ensuring that the country remained as a safe place for online activities. Citing a finding by Accenture, a leading global Information Technology professional services provider, he said, 65 per cent of Malaysian companies were still vulnerable to cyber attacks due to insufficient level of cybersecurity.

Malaysian Exporters Growing Fast On China’s Tmall Global PlatformKUALA LUMPUR -- Malaysia is among the fastest-growing exporters selling into China’s Tmall Global, a cross-border business-to-consumer (B2C) retail platform of Alibaba Group’s Tmall.com. The recently released 2017 Tmall Global Annual Consumers Report showed that Malaysia was the seventh fastest-growing exporter in Tmall Global after niche countries such as Greece, Chile, Poland, Hungary,

Spain, Brazil, Austria, Israel, and Denmark, measured by year-on-year growth. “The most popular Malaysian product categories are food products, coffee, and mother and baby products such as strollers and prams,” it said in a statement Monday.

Households With Internet Access Increase To 85.7 Pct In 2017KUALA LUMPUR -- Households having access to the Internet have increased by 15.6 percentage points to 85.7 per cent in 2017 as compared to 70.1 per cent in 2015. In a statement here Monday, the Statistics Department said, households with computer and mobile phone access rose to 74.1 per cent and 98.1 per cent respectively compared to 67.6 per cent and 97.9 per cent in 2015.

Milrem Robotics Develops Firefighting, SAR UG VehicleKUALA LUMPUR -- Known mostly for its smart warfare systems, Milrem Robotics is entering the commercial market with its firefighting and search and rescue unmanned

ground vehicle (UGV) being developed together with rescue services, it said in a statement Tuesday. Known as Multiscope Rescue, this UGV can be equipped with firefighting equipment such as a water tank and a remote-controlled water cannon, and can reach unreachable areas by human personnel, or places too dangerous for firefighters to go into like tunnels or other structures that may collapse at any time.

McDermott Eyes Petronas ProjectsKUALA LUMPUR -- McDermott, a US-based company providing integrated engineering, procurement, construction and installation services for offshore and subsea field developments, expects to win some of Petroliam Nasional Bhd’s (Petronas) projects. McDermott Asia Pacific Sdn Bhd’s Commercial Senior Director for Asia, Mahesh Swaminathan told a media briefing Tuesday, the national oil and gas company had recently said it would invest in projects worth RM55 billion.

Chatime Malaysia Receives Jakim’s Halal CertificationPUTRAJAYA -- Chatime Malaysia

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Sdn Bhd, the Malaysian master franchisor of Chatime, a Taiwan-based global franchise teahouse chain, has received its halal certification from the Department of Islamic Development Malaysia. Group Managing Director Aliza Ali told reporters Tuesday, the halal certification would enhance consumer confidence and enable the company to expand its operations globally, especially in West Asia.

Talk On Saudi Aramco’s US$7 Bln Investment In Rapid Project CompletedKUALA LUMPUR -- The negotiation on Saudi Aramco’s US$7 billion (US$1 = RM3.91) investment in Petronas’ Refinery and Petrochemical Integrated Development project (RAPID) in Pengerang, Johor, has been concluded, said Minister in the Prime Minister Department, Datuk Seri Abdul Rahman Dahlan. “We expect the US$7 billion investment to be in by end of this month,” he told reporters Tuesday.

MIDA Urges Companies To Leverage On i-Incentives PortalKUALA LUMPUR -- The Malaysian Investment Development Authority (MIDA) urges more companies, both foreign and local, to leverage on its recently launched i-Incentives portal. i-Incentives is a one-stop centre for comprehensive information on all incentives offered by various ministries and agencies concerning the manufacturing, services and primary sectors, it said in a statement Tuesday.

Malaysia To Benefit From Booming ASEAN Digital EconomyKUALA LUMPUR -- Experts are predicting that consumer spending in Southeast Asia’s online economy will rise six and a half times, or 500 per cent from US$30 billion (US$1 = RM3.91) currently to US$200 billion by 2025, fuelled by consumption of electronics, clothing, household goods and groceries as well as increased travel within the region. HSBC Bank Malaysia Bhd (HSBC) said in a statement Tuesday, Southeast Asia is the world’s fastest growing Internet region with nearly four million new users coming online every month for the next five years, translating into a user base of 480 million by 2020.

Rubberised Roads To Shore Up Rubber Consumption, PricesPUTRAJAYA -- The implementation of rubberised roads is one of the measures being considered to increase domestic rubber consumption in order to shore up flagging prices of the commodity, Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said. He told the media Wednesday, at the initial stage, the construction of rubberised roads would involve resurfacing the apron and taxiway of the Sungai Rambai Aerodrome, Melaka and the 20 km stretch of Jalan Segamat-Yong Peng in Johor.

SC Warns Investors Over ‘Pump And Dump’ SchemesKUALA LUMPUR -- The Securities Commission Malaysia (SC) has warned investors over the increased use of blogs, forums and social media platforms to spread false and

misleading information on certain companies in order to perpetrate ‘pump and dump’ schemes. In a statement Wednesday, the SC said, the perpetrators would accumulate shares at lower prices before posting positive sentiments about the companies, with the intention to spur interests in the shares in order to drive up their prices.

Battersea Power Station Unveils Retail And Leisure ComponentKUALA LUMPUR -- Battersea Power Station Development Company (BPSDC) Friday launched London’s latest retail and leisure destination that will house a collection of British and international brands in one of the world’s most iconic buildings. The company said in a statement Friday that Turbine Hall A, built in the 1930s, would be home to the Premium Collection – brands that portray elegance, sophistication and timeless style – while Turbine Hall B, completed in the 1950s, would bring together contemporary brands providing an eclectic mix of younger and more diverse names.

Khazanah Acquires Prince Court Medical Centre From PetronasKUALA LUMPUR -- Khazanah Nasional Bhd, via wholly-owned subsidiary Pulau Memutik Ventures Sdn Bhd (PMV), is acquiring the Prince Court Medical Centre (PCMC) in Kuala Lumpur from Petroliam Nasional Bhd (Petronas). PMV inked a share sale and purchase agreement with Petronas’ unit, Petronas Hartabina Sdn Bhd, to acquire a 100 per cent equity interest in the hospital, the sovereign wealth fund said in a statement Thursday.

MALAYSIAeBiz : 9© 2018 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.

MALAYSIAeBizBizEVENTSBoustead Signs Pacts With PCSB, Joint Operating Parts On Early End Of ContractKUALA LUMPUR -- Boustead Holdings Bhd has inked separate settlement agreements with Petronas Carigali Sdn Bhd (PCSB) and its joint operating partners (JOPS) regarding their early termination of a contract. In a statement Monday, Boustead said, this followed the start of arbitration proceedings by the group’s 51 per cent-owned subsidiary, MHS Aviation Bhd, against PCSB, and the subsequent early termination of MHS’ contract to provide five EC225 helicopters for the JOPS’ use.

TNB, Firms Ink Two LSS Photovoltaic Power Purchase PactsKUALA LUMPUR -- Tenaga Nasional Bhd (TNB) has signed two large-scale solar (LSS) photovoltaic power purchase agreements with two special-purpose companies (SPCs) Monday to develop the transmission-connected LSS projects. In a filing to Bursa Malaysia Monday, TNB said, the SPCs were TNB Bukit Selambau Solar Sdn Bhd and Re Gebeng Sdn Bhd.

KL International Airport Wins Routes Asia 2018 Marketing AwardsKUALA LUMPUR -- Malaysia Airports Holdings Bhd has won the Routes Asia 2018 Marketing Awards for the overall category, as well as the ‘Over 20 Million Passengers’ category, beating other hubs in the region, it said in a statement Tuesday, The annual Routes Asia Marketing Awards are widely regarded as the most valuable awards in the route development and aviation industry as they are voted and judged by the airline network planning community.

TNB Invites Abstracts For Technical Papers For CEPSI 2018KUALA LUMPUR -- Tenaga Nasional Bhd (TNB) is inviting abstracts for

technical papers to be presented at the internationally prestigious Conference of the Electric Power Supply Industry (CEPSI) 2018, from Sept 17-22 in Kuala Lumpur. TNB Chief Corporate Officer, Datuk Wira Roslan Ab Rahman said in a statement Tuesday, TNB would accept abstracts from professionals in the areas of the electricity supply industry, including project financing, technology development, policy formulation, renewable energy, software, system design and analytics, environmental impact assessment, and battery storage.

YPO Hosts Global Innovation Week For Dynamic InnovatorsKUALA LUMPUR -- For the third consecutive year, Young Presidents’ Organization Inc (YPO) will host Innovation Week, a series of more than 50 events around the world. Designed to bring the most dynamic innovators for a chance to network, overturn conventional thinking and come away inspired with actionable, applicable insight, YPO Innovation Week will be held from May 7 to 11, 2018. YPO, in a statement Wednesday said the mission of the Innovation Week is to drive innovation and transformation across a diverse range of industries and sectors through signature events, live interactive video casts and livestream events.

Emission Testing To Be 40 Pct Cheaper With NETCRAWANG -- The newly-launched National Emission Test Centre (NETC) will provide a strategic advantage to the local automotive industry as the costs associated with emission testing will now be 40 per cent lower and allow for faster testing times. Deputy Minister of International Trade and Industry, Datuk Seri Ahmad Maslan

told a press conference Wednesday, the NETC would also further promote Energy Efficient Vehicle (EEV) usage in Malaysia, in line with the target of 80 per cent EEV penetration by 2022.

BMW Unveils BMW X2 Sports Activity CoupeKUALA LUMPUR -- BMW Group Malaysia has introduced its new BMW X2, a new compact premium sports activity coupe (SAC), with the ideal balance between sporty driving dynamics and exceptional efficiency, as well as best-in-class cabin space. The SAC, which comes in two variants -- BMW X2 s Drive 20i M Sport, a limited edition production of only 100 vehicles and comes with a RM320,800 price tag (excluding insurance) – promises unadulterated driving pleasure, Managing Director and Chief Executive Officer Harald Hoelzl told reporters Wednesday.

Tadau Energy Bags Two Green Sukuk AwardsKUALA LUMPUR -- Tadau Energy Sdn Bhd bagged two awards at the Climate Bonds Initiative’s Annual Green Bond Pioneer Awards 2018 in London Tuesday night. The company won the coveted New Products Broadening The Market - Green Sukuk and New Countries Taking Green Bonds Global - Malaysia categories, awards. “We are honoured to receive this recognition as the issuer of the world’s first Green Sustainable Responsible Investment Sukuk (Green SRI). We will continue to build clean, green and sustainable projects globally,” said Tadau Energy Managing Director, Susanna Lim in a joint statement with Affin Hwang Investment Bank Bhd (Affin Hwang Capital) Wednesday.

Insight

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KUALA LUMPUR (Bernama) -- The Malaysian Investment Development Authority (MIDA) has RM1.8 billion worth of investments in oil and gas (O&G) related projects in the pipeline for the first three months of 2018, said Chief Executive Officer, Datuk Azman Mahmud.

This, he said, shows Malaysia continued to be a strategic location for the O&G industry players.

“The development of the Pengerang Integrated Petroleum Complex (PIPC) will attract future investments in the industry, particularly to meet demand for inspection, maintenance, repair and overhaul, as well as plant turnover services for a large number of plants, machinery and equipment within it,” he said in a statement Thursday.

He said last year, the agency had approved another project for the Pengerang Integrated Complex (PIC), a highly integrated refining and petrochemical complex, that is set to highlight Malaysia’s status as a global leader in the petrochemical products industry.

It is part of the 22,000-acre PIPC with current approved investments of US$27.2 billion (US$1=RM3.91). Once completed, the PIC will provide 4,000 job opportunities for the country.

SUPPORT FACILITIES

He said MIDA continued to work with stakeholders to develop the infrastructure and support facilities in the O&G services sector.

This includes the Tok Bali Supply Base that is expected to complement other supply bases in the country and offer a

RM1.8 Bln O&G Investments In The Pipeline

cost advantage for exploration activities in the East Coast offshore.

“Notwithstanding these developments, the O&G industry faces challenges such as the fluctuating market conditions and changing consumption patterns.

“Collaboration and regular engagement between the operators, services provider and relevant government stakeholders are important to address these challenges. The government is also encouraging local industry players to invest more in technology and innovation to bolster competitiveness and sustainability to reduce operating costs, improve efficiency and increase performance.

“This includes remote monitoring, centralisation of certain job functions, and predictive analytics for their operation,” Azman said.

OTC ASIA 2018

Meanwhile, the agency is currently engaged in the OTC Asia 2018, underway at the Kuala Lumpur Convention Centre.

The event is part of MIDA’s promotional efforts towards providing first-hand information and insights into Malaysia’s plans to be the Asia Pacific hub for the O&G industry.

The conference has drawn more than 3,000 O&G businesses comprising oil and services and manufacturing companies, that support the needs of the O&G value chain, both domestically and regionally.

Among the global players participating are TechnipFMC, Aker Solutions, Halliburton, Cameron International and Schlumberger.

Malaysia continues to be a strategic location for the O&G industry players, says Malaysian Investment Development Authority (MIDA) Chief Executive Officer Datuk Azman Mahmud. -- fotoBERNAMA by Zulfadhli Zulkarnain

MALAYSIAeBiz : 1

Bursa Malaysia Likely To Trade Lower Next WeekBy Mohd Khairi Idham Amran

KUALA LUMPUR -- Bursa Malaysia is expected to trade lower next week as the market continues to react to the protectionist policy of the United States (US).

Affin Hwang Investment Bank Vice-President/ Head of Retail Research, Datuk Dr Nazri Khan Adam Khan, said selling pressure caused by the US action was expected to continue in the near-term and would affect not just Malaysia, but regional, European and US stock markets.

“There will be more selling pressure in the near term. The market will experience a slight pullback next week,” he told Bernama.

He said the support level for next week would be at 1,850, while resistance was set at 1,880.

US President Donald Trump signed a presidential memorandum on Thursday that could impose tariffs of up to US$60 billion on imports from China and restrictions aimed at preventing Chinese-controlled companies and funds from acquiring US firms with sensitive technologies.

GEOPOLITICAL TENSIONS

Nazri Khan, is however, optimistic that the geopolitical tensions caused by the US action would be temporary and diplomatic negotiations would take place between the US and China.

“Looking back at geopolitical tensions, it is usually temporary. A global trade war is usually just temporary and rhetoric. I’m sure there will be diplomatic negotiations,” he said.

He said the predicted pullback on the equity market next week would present an opportunity for investors to buy on dip.

According to Nazri Khan, the market fundamentals remained intact with commodity prices continuing to rise, and economic indicators still being positive.

“The global economy is moving up, Malaysia’s gross domestic product was up and international reserves are strong. Commodities are also still strong as per crude oil, gold and crude palm oil. So, I think it won’t be that bad,” he said.

MARKET TURNOVER

On a Friday-to-Friday basis, the FBM KLCI was 19.16 points better at 1,865.55 from 1,846.39.

The FBM Emas Index rose 27.02 points to 13,060.66 and FBMT100 Index increased 62.45 points to 12,844.52, but the FBM Emas Shariah Index decreased by 21.35 points to 13,198.82. The FBM 70 fell 154.56 points to 15,538.93 and the FBM Ace slid 243.09 points to 5,681.92.

On a sectoral basis, the Industrial Index was down 30.31 points to 3,240.42, while the Finance Index surged 170.85 points to 18,209.03 and the Plantation Index jumped 92.2 points to 8,048.7.

Weekly turnover fell to 10.62 billion units worth RM10.41 billion from 12.44 billion units worth RM13.19 billion. Main market volume declined to 6.98 billion shares valued at RM9.8 billion from 8.12 billion shares valued at RM12.49 billion.

Warrants turnover decreased to 1.63 billion units worth RM296.74 million from 1.88 billion units worth RM274.1 million. The ACE market contracted to 1.97 billion shares valued at RM309.88 million from 2.4 billion shares valued at RM419.23 million.

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Ringgit To Trade Between 3.8900-3.9400 Next WeekBy Sharifah Pirdaus Syed AliKUALA LUMPUR -- The ringgit is expected to trade lower in a

LIST OF MARKET REPORTS : 1. Bursa Malaysia

2. Forex

3. Money Market

4. Kuala Lumpur Tin Market (KLTM)

5. FBM KLCI Futures

9. Rubber Futures

8. KLIBOR Futures

6. Gold Futures

MALAYSIAeBizMarch 24, 2018Market Outlook


7. Crude Palm Oil (CPO) Futures

BURSA MALAYSIA

SMEbrief

MALAYSIAeBiz : Market Outlook

MALAYSIAeBiz : 2

range of between 3.8900 and 3.9400 against the US dollar next week, on concerns over the trade war between the US and China, a dealer said.

OANDA Head of Trading Asia-Pacific, Stephen Innes said the trade war would continue to dominate the market landscape and risk assets were expected to be traded weaker with regional equity markets the most impacted, while weighed down by uncertainties surrounding the US protectionism policy.

“However, since Malaysia is less dependent on US trade compared to its regional economic peers, the ringgit will be a relatively sheltered choice compared to some other regional currencies, like the Korean Won.

“Intense focus remains on China and US trade relations, which should keep local currencies including the ringgit in a defensive posture,” he told Bernama.

FXTM Global Head of Currency Strategy & Market Research, Jameel Ahmad said macro-economic data with the US Gross Domestic Product report due on Wednesday (March 28) was initially seen as the major data announcement for the week to influence market direction.

POTENTIAL US-CHINA TRADE WAR

“However, the escalation in concerns over a potential US-China trade war, is now expected to remain the key focus for investors.

“Therefore, if investors do continue to sell on stock markets, it is likely to negatively influence the ringgit due to less buying demand for emerging market assets,” he added.

Meanwhile, Hong Leong Research said the ringgit advanced 0.11 per cent week-on-week to 3.9135 against US dollar and strengthened against six of the group of 10 currencies owing to a one-day rally when the greenback tumbled.

“We maintain a bearish view on the ringgit against the US dollar next week as markets are likely to stay subdued on brewing trade war concerns and entering a busy US macro flow.

“We opine that there is little to drive renewed buying interest in the local currency in the absence of Malaysian data.

BULLISH US DOLLAR“The technical viewpoint suggests a bullish US dollar against the ringgit outlook is holding at above 3.9000 while sustaining

an upward trajectory and the pair remain on track to test 3.9402,” it added.

On a Friday-to-Friday basis, the local note finished lower against the greenback at 3.9150/9200 from 3.9070/9120.

The ringgit was also traded mostly lower against a basket of major currencies, except the Singapore dollar.

It declined against the yen at 3.7318/7383 from 3.6953/6010 last Friday and depreciated against the euro to 4.8245/8318 from 4.8138/8215.

The ringgit weakened vis-a-vis the British pound to 5.5170/5248 from 5.4565/4643, but rose against the Singapore dollar to 2.9756/9799 from 2.9761/9810.

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Short-Term Rates To Remain Steady Next Week

KUALA LUMPUR -- Short-term rates are expected to remain steady next week with Bank Negara Malaysia’s (BNM) continuing operations to mop up excess funds from the financial system.

The central bank would operate on a daily basis by conducting monetary instruments, including conventional money market, Qard, repo, reverse repo tenders, Commodity Murabahah Tender, Bank Negara Interbank Bills as well as an Islamic range maturity auction Qard tender.

On Friday, the average overnight interest rate stood at 3.19 per cent, while the one-week, two and three-week rates were pegged at 3.26 per cent, 3.30 per cent and 3.35 per cent respectively.

The total liquidity surplus in the conventional system for the week increased to RM22.25 billion from RM21.98 billion last week, while in the Islamic system, it rose to RM9.24 billion from RM9.08 billion.

The benchmark three-month Kuala Lumpur Interbank Offered Rates remained at last week’s 3.69 per cent.

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KLCI Futures To Trend Lower Next WeekKUALA LUMPUR -- The FTSE Bursa Malaysia KLCI futures contract (FKLI) is expected to trend lower next week in sync with the cash market on the back of growing concerns over


MALAYSIAeBiz : 3



the trade protectionism policy of the United States (US).

FXTM Research Analyst, Lukman Otunuga, said US President Donald Trump’s announcement on Thursday of the plan to impose tariffs on up to US$60 billion of Chinese imports, triggered trade war concerns as the Chinese retaliated to impose tariffs on up to US$3 billion of US imports.

“With fears likely to heighten over a trade war negatively impacting global growth, risk aversion could become a dominant market theme moving forward,” he said in a statement.

On a Friday-to-Friday basis, spot month March 2018 advanced 16.5 points to 1,856.5, April 2018 increased 13 points to 1,853.5, June 2018 rose 14.5 points to 1,850 and September 2018 was 10.5 points higher at 1,844.5.

Turnover for the week increased to 29,837 lots from 26,540 lots, while open interest rose to 34,441 contracts from 33,902 contracts.

The benchmark FBM KLCI finished 19.16 points stronger at 1,865.55 from 1,846.39 previously.

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CPO Futures To Trade In Cautious Mode Next WeekBy Zarul Effendi Razali

KUALA LUMPUR – The crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives are likely to trade in a cautious mode next week, with traders concerned over the re-emerging trade war between the United States and China.

Interband Group of Companies Senior Trader, Jim Teh, said the market was likely to experience a bit of a correction next week, with prices expected to hover between RM2,350 and RM2,390 per tonne.

“With most of the global equity and commodity markets affected by this trade war, we expect that the market would be dominated by physical buyers next week,” he told Bernama.

Global stock and commodity markets reportedly tumbled on Friday due to revived trade war fears as US President Donald Trump unveiled tariffs of up to US$60 billion on Chinese imports.The Chinese retaliated to impose tariffs on up to US$3 billion of US imports.

On a Friday-to-Friday basis, April 2018 fell RM25 to RM2,420 per tonne, May 2018 declined RM9 to RM2,432 per tonne,

June 2018 went down RM6 to RM2,428 and July 2018 slipped RM7 to RM2,425 per tonne.

Weekly turnover increased to 288,792 lots from 261,743 lots last Friday, while open interest eased to 276,721 contracts from 278,913 contracts last week.

On the physical market, April South stood at RM2,440 per tonne.

........................................................................................

Rubber Market Expected To Rebound Next Week

KUALA LUMPUR -- The Malaysian rubber market is likely to rebound slightly next week, supported by a positive outlook for the commodity on the domestic market, as well as the expectation of a recovery in global oil prices, a dealer said.

However, he said, the recovery process might be limited by the cautious movement of the ringgit versus the US dollar next week too.

Recently, the Plantation Industries and Commodities Ministry called for road construction projects throughout the country, including the Pan Borneo Highway, to be required to use rubber premix to maximise the usage of the commodity produced by smallholders in the country and to stabilise its price.

Deputy Minister, Datuk Datu Nasrun Datu Mansur, said based on the ministry’s study, each kilometre of rubberised road would use 4.2 tonnes of rubber.

“Our study is now complete and we hope the Public Works Department will compel all road construction projects in the country to use rubber. The move would benefit rubber smallholders and if the Pan Borneo Highway uses it, the industry will be invigorated,” he was quoted as saying in Parliament.

CURB SUPPLIES

Meanwhile, the dealer said the Organisation of Petroleum Exporting Countries (OPEC) and its allies have also continued to curb supplies, which might push oil prices higher moving forward.

“Traders will also be looking at developments following the proposed imposition of new tariffs totalling up to US$60 billion on Chinese imports to the United States,” he added.

MALAYSIAeBiz : 4



For the week just ended, rubber prices were mostly lower, tracking weaker regional market performance and a bearish outlook on the global economy.

On a Friday-to-Friday basis, the Malaysian Rubber Board’s noon price for tyre-grade SMR 20 lost 41 sen to 524.5 sen a kg, while latex-in-bulk was 22 sen lower at 448 sen a kg.

The 5 pm unofficial closing price for SMR 20 decreased 46.5 sen to 518 sen a kg, and latex-in-bulk fell 30.5 sen to 442 sen a kg.

..........................................................................................

Quiet KLIBOR Futures Trading Seen Next Week

KUALA LUMPUR -- The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract on Bursa Malaysia Derivatives is expected to remain quiet next week on a lack of market catalysts.

For the week just-ended, the market was untraded with open interest remaining at nil.

On a Friday-to-Friday basis, settlement prices for spot month April 2018, May 2018, June 2018 and September stood at 96.30, 96.29, 96.27 and 96.27 respectively.

March 2018 ended on March 21 at 96.32.

The underlying three-month KLIBOR was unchanged from last week’s 3.69 per cent.

..........................................................................................

KLTM Likely To Be On Downtrend Next Week

KUALA LUMPUR -- The Kuala Lumpur Tin Market (KLTM) is expected to continue its downtrend into next week in the absence of fresh catalysts to boost the market, said a dealer.

He said the local tin price was expected to move at a range of between US$20,600 a tonne and US$20,900 a tonne with sentiment weighed down by US President Donald Trump’s plan to impose metal tariffs.

“The KLTM will also closely track the performance of tin on the London Metal Exchange (LME),” he added.On a Friday-to-Friday basis, the KLTM price was US$300 lower at US$20,750 per tonne from US$21,050 per tonne

last week.

On the LME, the tin price fell by US$125 to end at US$20,900 a tonne against US$21,025 a tonne previously.

Turnover increased to 234 tonnes from the 159 tonnes recorded last week.

Meanwhile, the price differential between the KLTM and LME stood at a discount of US$150 a tonne from a premium of US$25 per tonne last week.

........................................................................................

Gold Futures Contracts On Bullish Trend Next WeekBy Sharifah Pirdaus Syed Ali

KUALA LUMPUR -- Gold futures contracts on Bursa Malaysia Derivatives are likely to see a bullish trend next week on escalating tensions surrounding the trade war between the US and China, a dealer said.

Phillip Futures Sdn Bhd Dealer, Ong Su Ling, said trade tensions had created uncertainties in the market, which would boost demand for safe-haven assets such as gold.

“The trade war can also potentially affect global growth and hence, is likely to drag risk appetite further,” she told Bernama.

Meanwhile, FXTM Research Analyst Lukman Otunuga said gold bulls were back in action on Friday, thanks to a vulnerable US dollar and a sell-off in global equity markets.

“It has certainly been an incredible trading week for the yellow metal, as heightened fears of a global trade war accelerated the flight to safety.

“With risk aversion in the air and the dollar under pressure, gold has the potential to appreciate further,” he said.

On a Friday-to-Friday basis, March 2018 rose 31 ticks to RM168.35 a gramme, while April 2018, May 2018 and June 2018 increased 44 ticks each to RM169.25, RM170 and RM170 respectively.

Weekly turnover fell to 18 lots worth RM300,000 from last week’s 23 lots valued at RM349,310, while open interest widened to 80 contracts from 79 contracts previously.

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