More Aussie firms choose Malaysia as export destination

KUALA LUMPUR: More Australian companies are choosing Malaysia as their preferred export destination compared to other key players in South-East Asia and neighbouring regions, says Malaysia Australia Business Council (MABC).

In a statement MABC said the latest data released by the Australian Bureau of Statistics showed that in 2013-14, a total of 3,801 Australian companies were recorded as exporting their goods and services to Malaysia compared to 3,659 companies in 2012-13.

“This is an annual growth of almost 150 companies,” the council said.

MABC said Thailand, which had 2,851 Australian exporters in

Indonesia, India and Japan also experienced a decline in numbers, recorded 2,421 companies, 1,865 companies and 3,016 companies, respectively.

MABC

Eastspring declares income distribution for Target Income Fund 3

2012-2013, fell by 40 companies to 2,811 companies in 2013-14.

“Indonesia, India and Japan also experienced a decline in numbers, recorded 2,421 companies, 1,865 companies and 3,016 companies, respectively,” it said.

Singapore, one of Australia’s largest trading partners, experienced lower growth than Malaysia, with only an extra 48 companies exporting in 20132014. KUALA LUMPUR: Eastspring Investments Bhd has announced a 2.32 sen per unit gross income distribution for existing unitholders of the Eastspring Investments Target Income Fund 3.

In a statement, it said all unitholders, who have maintained their holdings in the fund as at June 22, 2015, will be entitled to the income distribution.

“This distribution is consistent with the fund’s objective which endeavours to distribute income

MABC’s chairman, Leigh Howard, said these figures were a testament to the openness of both economies and the enduring strength of the trade relationship over many decades.

He said the Malaysia Australia Free Trade Agreement as a contributing factor, which has resulted in tangible benefits for businesses in both countries.

Malaysia has 2,600 local companies exporting to Australia, he said. — Bernama on a semi-annual basis from the coupon payments received from the bonds invested,” it said.

The fund chartered a return of 4.62 per cent since inception, outperforming its benchmark by 1.54 per cent.

The Eastspring Investments Target Income Fund 3 is the third in a series of the company’s three-year closed-ended bond funds that aims to provide investors with regular income during the investment tenure of the fund via a portfolio of local and/or foreign bonds. — Bernama KUALA LUMPUR: Sona Petroleum Bhd, a special purpose acquisition company, is confident of sealing a qualifying acquisition by year- end after looking at several potential onshore and shallow water assets in the Asia Pacific.

Managing Director, Datuk Seri Hadian Hashim, said the qualifying acquisition was in line with the company’s current timeline.

The company’s deadline to make a qualifying acquisition is July 30, 2016.

“It is a question of price...Sona Petroleum is looking at several onshore and shallow water assets,” he told reporters after the company’s annual general meeting here, yesterday.

On whether the valuations have gone to the Securities Commission, he said before the company is serious on any asset, it carried out its consultation.

He reiterated that the termination of the sale and purchase agreement between Sona Petroleum and Salamander Energy (Bualuang Holdings) Ltd cleared the path for Sona Petroleum to pursue other oil and gas assets under more favourable market conditions.

The company was committed and focused on identifying the most viable and lucrative investment opportunity for its qualifying acquisition in its journey to become a significant exploration and production company, he added. — Bernama