Malaysian factories hit five-year low, but manufacturers remain positive
An export resurgence in April was not enough to prevent Malaysian manufacturing activity from falling to its lowest ever in Nikkei Malaysia’s Purchasing Managers Index (PMI) last month, Malaysia recorded a PMI of 46.9 in June, down from 48.7 the month before. The index considers any score above 50 to indicate an improvement in the sector, while numbers below signify a contraction. According to Nikkei Malaysia, factory output and new orders both fell sharply in June, with production dropping the most since the previous year. Malaysia’s record-low PMI score also came two months after exports rose over 20 per cent year-on-year in April.
However, Malaysian manufacturers remained positive on the future despite the June results, based on the Future Output Index that remained “above average” since the start of 2016.
MITI to Promote Halal Products, Services At China Fair
Second Ministr of International Trade and Industry, Datuk Seri Ong Ka Chuan, will lead a delegation to promote Malaysian halal products and services at the Lanzhou Investment and Trade Fair 2017 in China, from July 6 to 9, 2017. The Malaysia External Trade Development Corporation (Matrade) said, 90 representatives from 31 Malaysian companies and various Malaysian government organisations would take part in the event. Lanzhou has been identified by the Chinese government as one of the halal trade hubs in the country.
E Singapore Brings Together 6 COs To Establish Partnership For KL-SG HSR
Six Singapore companies, brought together by International Enterprise (IE) Singapore, announced their intention to partner each other with plans to team up with international players to jointly participate in high-speed rail (HSR) projects, starting with the Kuala Lumpur Singapore High Speed Rail (KL-SG HSR). The companies involved are Clifford Capital Pte Ltd, DBS, Sembcorp Design & Construction, SMRT International Pte Ltd, Surbana Jurong Pte Ltd and Singapore Technologies Electronics Ltd. “Transport infrastructure accounts for 25 per cent of the US$4.3 trillion in global infrastructure spending in 2016. The HSR sub-segment is a key growth area,” said Group Director, Environment and Infrastructure Solutions Group, IE Singapore, Kow Juan Tiang in a joint statement today.