Sabah & Sarawak

Poorer set of results for Coastal Contracts

It was a weaker year for Coastal Contracts Bhd (Coastal Contracts) as its core net profit for financial year 2018 ( FY18) rounded up to RM28.3 million – after stripping- off foreign exchange, inventories written down and impairments – which came in below expectations. Kenanga Investment Bank Bhd’s research team said the FY18 core net profit only made up 89 per cent of its full year earnings forecasts for the group.

PM: Seek plants at par with palm oil, rubber

Malaysia should conduct research for plants that can be nurtured and grown to become successful industries, similar to palm oil and rubber, said Prime Minister Tun Dr Mahathir Mohamad. He said oil palm and rubber trees came from foreign countries, but were developed in Malaysia to become the nation’s major export commodities.

Kok: Growing need for MSPO certified smallholders

As of July 2018, 5.21 per cent, or 118,063 hectares ( ha), out of the total 2.27ha of oil palm smallholdings in the country have received the Malaysian Sustainable Palm Oil ( MSPO) certification from the Malaysian Palm Oil Board ( MPOB), said Primary Industries Minister Teresa Kok. She said the total area certified comprised 105,751ha under 56 smallholder clusters managed by government agencies such as Felda, Felcra, Salcra and SLDB, as well as 12,312ha under 62 Sustainable Palm Oil Clusters ( SPOCs) managed by MPOB.

New wage hike puts more pressure on East Malaysian firms

The new minimum wage price hike may dampen the economic growth in labour dependent industries such as plantation, construction and manufacturing, all while putting Sabah and Sarawak in a less competitive position compared to Peninsular Malaysia.

Wage rise to equalise gap between Peninsular, East Malaysia

Analysts view the gradual rise in the national minimum wage will have positive impact on Malaysia’s economy by equalising the wage gap between Peninsular Malaysia and East Malaysia. MIDF Amanah Investment Bank Bhd believed the decision to equalise the wage between Peninsular Malaysia and Sabah and Sarawak will reduce income gap between the two regions.