19/09/2024

BIZ & FINANCE THURSDAY | SEP 19, 2024

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Matrade nets RM347m in sales at Mihas 2024

Maybank IB: Improved LCR for Islamic banks to ease funding pressure KUALA LUMPUR: The average liquidity coverage ratio (LCR) for Islamic banks in Malaysia has improved, which should help reduce funding pressure in the near future, said Maybank Investment Bank Bhd (Maybank IB). In a note, the investment bank said that from a pre-pandemic average of about 152%, the average LCR for Islamic banks dipped to a low of about 127% in October 2022. “Since then, Islamic banks have built back their LCR to a more normalised level of 153%, back to being on par with those of conventional commercial banks,” it said. Maybank IB added that with improving liquidity conditions and easing price competition ahead, net interest margins (NIMs) are expected to recover in 2025. This improvement is supported by rising current account and savings account deposits, a stabilising three-month Klibor, and enhanced LCRs at Islamic banks. “What is encouraging is that these indicators point to improving liquidity positions, which should help ease NIM pressure in the coming quarters. “Moreover, some banks have pledged to scale back on mortgage price competition, which should also ease pressure on lending yields,” it said. – Bernama On charging stations, the car dealer said the number of public charging bays have also risen exponentially to match, providing greater confidence for Malaysians to travel further with their EVs. It noted that the growing network of charging stations, both in urban areas and along highways, is a crucial factor in supporting the nation’s transition toward electrified mobility. According to the Malaysia Electric Vehicle Charging Network by PLANMalaysia and Malaysian Green Technology and Climate Change Corporation, 2,606 public charging bays are available across the country as of June 2024. To date, over 6,400 EVs from across the BMW and MINI portfolio have been introduced to Malaysian roads. The group has also made available over 2,020 charging facilities through strategic partnerships with various EV charging providers in Malaysia. – Bernama

“Last year, the Kingdom of Agro Food cluster – which sells seedlings, fruits, and vegetables, recorded the highest sales at over RM4 million, and this year we are targeting RM5 million. Currently, we have reached RM3 million. “We have five segments in Food Empire featuring the best of the best from four states: Gulai Tempoyak from Pahang, Nasi Ambeng from Selangor, Mi Bandung from Muar, Johor, and Nasi Ganja from Perak,” he said, adding that a total of 1,001 types of food and drinks are being sold at Maha this year. Meanwhile, Abdul Rashid said that during the first three days of Maha 2024, they brought in 62 potential buyers from overseas to meet prospective exporters in the country, generating RM662 million in potential sales through more than 750 business matches. – Bernama nurtured through Matrade’s 49 international offices. “This year’s INSP has connected Malaysian exporters with buyers from various global markets including Taiwan, Saudi Arabia, South Korea, Mexico, Hong Kong, and Poland. “Through this innovative platform, international buyers have sourced a wide range of halal-certified products such as agricultural goods, pharmaceuticals, cosmetics, and beverages. “This highlights the success of Matrade’s strategy in leveraging both digital and physical platforms to enhance international trade relations and elevate Malaysia’s halal sector,” he said in a statement yesterday. The INSP, which runs virtually from Feb 15 to Nov 30 with a physical event on Sept 18, has proven its success as a business matching platform. Meanwhile, Matrade CEO Datuk Mohd Mustafa Abdul Aziz stated that the INSP has consistently demonstrated its ability to

deliver impressive results since its inception. “The virtual INSP at Mihas 2024 is no exception. This reflects Matrade’s continuous efforts to support local businesses in navigating international trade challenges and ensuring they remain competitive in the global market,” he said. He highlighted that one of INSP’s key strengths is its ability to identify and match businesses with the right buyers, creating opportunities for productive collaboration. “By hosting pre-arranged virtual one-on one meetings, Matrade ensures that Malaysian businesses are introduced to buyers with a genuine interest in their products, leading to a high conversion rate from discussions to deals,” he added. As part of Mihas 2024, the INSP aims to facilitate over 3,000 business meetings, bringing together more than 330 buyers from 53 countries including 20 premium buyers representing companies with a combined annual revenue of RM332 billion. KUALA LUMPUR: Malaysia’s electric vehicle (EV) adoption and charging infrastructure expansion are showing positive momentum in shaping the innovation transition in the mobility sector, according to BMW Group Malaysia and Malaysia Zero Emission Vehicle Association (MyZEVA). BMW Group said in a statement yesterday that EVs are becoming increasingly common on Malaysian roads, with a growing number of registrations of 27,382 EVs across Malaysia as of June 2024. “Based on registration in the Road Transport Department (JPJ) offices in Peninsular Malaysia, Kuala Lumpur leads at 5,271 followed by Selangor (1,544). Other states with high registration numbers are Johor (657), Penang (351), Sabah (326) and Sarawak (268),” it said. BMW Malaysia said the growth also underscores the expanding reach of electrified mobility across the country, as more Malaysians, regardless of their location, embrace the benefits of EV ownership.

o Virtual INSP connects Malaysian exporters with buyers from six countries

Ű BY AIMIE SHAZRIE sunbiz@thesundaily.com

PETALING JAYA: The Malaysia External Trade Development Corporation (Matrade) secured sales worth RM347 million during the virtual segment of the International Sourcing Programme (INSP) at the Malaysia International Halal Showcase (Mihas) 2024. Matrade chairman Datuk Seri Reezal Merican Naina Merican said the success of INSP lies in Matrade’s ability to forge meaningful partnerships between Malaysian suppliers and international buyers. He said that many of these partnerships have evolved into long-term relationships,

Maha 2024: 2.3m visitors and counting, on track to hit target

EV growth fuels Malaysia’s innovation transition in mobility sector: BMW

KUALA LUMPUR: The Malaysia Agriculture, Horticulture and Agrotourism Exhibition (Maha) 2024, which entered its seventh day yesterday, has recorded 2.3 million visitors. Federal Agricultural Marketing Authority director-general Abdul Rashid Bahri said he was confident that the target of three million visitors to Maha 2024, currently being held at the Malaysia Agro Exposition Park Serdang from Sept 11-22, will be achieved soon. “(So far, the value of) direct sales has reached RM17.3 million, and the value of MoUs and MoAs is RM3.1 billion, compared to the RM6 billion target,” he said during an interview on Bernama TV’s Ruang Bicara programme on Tuesday night. He said this year’s Maha comprised five clusters: Kingdom of Agro Food, Food Empire & Food Viral, Food Truck Fiesta, Food Trade, and Rhythm of Farmers.

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