Swiflet nests worth RM1.7 bln for export to China by 2020

KUALA LUMPUR: Swiftlet nests worth RM1.7 billion are expected to be exported to China by 2020 with the signing of a memorandum of understanding (MoU) between Malaysia and the country.

Agriculture and Agro-based Industry Deputy Minister, Datuk Anthony Nogeh Gumbek said through the 'Raw Unclean Edible Bird Nest (RUC EBN) Protocol (RUC EBN) MoU, a result of the 'Belt and Road' initiative, the move could also strengthen trade and investment ties between the two countries, especially in the export of cleaned or uncleaned swiftlet nests.

"The Belt and Road initiative outlines the five key areas including trade and investment. The ministry conducts market intelligence research on competitive agro-food products like swiftlet nests and tropical fruits such as pineapple and durian," he said in the Dewan Rakyat yesterday. — Bernama KUALA LUMPUR: CIMB Group Holdings Bhd (CIMB Group) is on track to meet its financial year 2017 (FY17) targets according to analysts Kenanga Investment Bank Bhd (Kenanga Research) and MIDF Amanah Investment Bank Bhd (MIDF Research).

In separate reports, both firms announced that they were fully confident that there would be no surprises for the bank in 2017 and that its guided FY17 targets would be achievable.

To recap, the group's FY17 targets were set earlier this year; with return on equity (ROE) at 9.5 per cent, loans growth at 7 per cent, net interest margins (NIMs) to compress at 5bps, credit costs to float between 60bps to 65bs, and dividend pay-out ratios to be within 40 to 60 per cent.

Overall both analysts found these targets to be conservative for the group but noted that its loans growth might fall slightly off target due to the performances of the group's Thailand and Indonesian operations.

Based on Kenanga Research's report, it is understood that CIMB management had personally guided that CIMB Niaga (Indonesia)