Latest news with #NurAthirahMohdShaharuddin
Barnama
3 hours ago
- Business
- Barnama
Malaysia's 2Q GDP Growth Estimate Of 4.5 Pct Beats Consensus, Shows Economic Resilience -- Economists
REGION - CENTRAL > NEWS By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, July 18 (Bernama) -- The government's advance economic growth estimate of 4.5 per cent for the second quarter of 2025 (2Q 2025) beats most analysts' projections, demonstrating the country's economic resilience. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the gross domestic product (GDP) growth estimate was higher than the consensus of 4.2 per cent. bootstrap slideshow He pointed out that the services sector, which accounted for 60 per cent of the economy, saw its growth accelerate to 5.3 per cent from 5.0 per cent in the first quarter of this year, while agricultural output rose 2.0 per cent from 0.6 per cent in the previous quarter. 'All in all, we believe the Malaysian economy is still growing at a healthy clip during the April-June quarter. However, the same cannot be said for the second half of the year, given the US tariff shock, which is likely to affect exports to the United States (US) 'In view of this, Bank Negara Malaysia has pre-emptively cut the overnight policy rate by 25 basis points last week,' he said. However, Mohd Afzanizam said the ongoing investment spending and expansionary fiscal policies will ensure that the domestic demand will continue to anchor the overall growth, especially during the second half of the year. Meanwhile, International Islamic University Malaysia associate professor of economics, Dr Muhammad Irwan Ariffin, opined that Malaysia's economy demonstrated resilience in 2Q 2025, outperforming regional peers such as Indonesia, Vietnam and Thailand. He noted that the growth was driven by strong domestic demand and steady manufacturing output.
Barnama
26-05-2025
- Business
- Barnama
CPO Futures Seen Trading Sideways Next Week On Higher Output
By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, May 24 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade sideways with a slight downward bias next week due to expected higher output in the coming weeks. 'We expect the commodity to trade at between RM3,780 and RM3,930 (per tonne),' palm oil trader David Ng told Bernama. Interband Group of Companies senior palm oil trader Jim Teh sees the commodity's price ranging between RM3,800 and RM3,860 next week. He noted that the current price range represents a good bargain for physical buyers from China, India, Pakistan, the Middle East and European Union countries. Commenting on the weather, Teh said current conditions are ideal for oil palm cultivation, with the favourable tropical climate supporting healthy crop growth. On a Friday-to-Friday basis, the new spot-month June 2025 contract fell RM15 to RM3,824 per tonne, July 2025 was RM8 higher at RM3,836 per tonne, and August 2025 added RM12 to RM3,827. The September 2025 note rose RM13 to RM3,821 per tonne, October 2025 edged up RM15 to RM3,824, and November 2025 gained RM13 to RM3,831. The weekly trading volume slid to 331,960 lots from 378,493 the previous week, while open interest added to 244,075 contracts from 239,366.
Barnama
26-05-2025
- Business
- Barnama
CPO Futures End Higher On Stronger Soybean Oil Prices
By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, May 23 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Friday, supported by stronger soybean oil prices, said palm oil trader David Ng. However, he noted that gains were limited by concerns over rising production in the coming weeks, which could increase the country's overall stock level. 'We see support at RM3,750 per tonne and resistance at RM3,900 per tonne,' he told Bernama. At the close, the new spot month June 2025 contract rose RM2 to RM3,824 per tonne, July 2025 increased RM3 to RM3,836 per tonne, and August 2025 went up RM7 to RM3,827 per tonne. September 2025 advanced RM12 to RM3,821 per tonne, October 2025 gained RM21 to RM3,824 per tonne, and November 2025 rose RM22 to RM3,831 per tonne. Trading volume declined to 54,070 lots from 66,842 previously, while open interest fell to 244,075 contracts from 247,462 contracts. The physical CPO price for June South slipped by RM10 to RM3,880 per tonne. -- BERNAMA
Barnama
26-05-2025
- Business
- Barnama
Rubber Market To Trade In Stable Mode Next Week With Upward Bias
By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, May 24 (Bernama) -- The Malaysian rubber market is expected to trade in a stable mode next week, with a tendency towards an upward bias, amid the ongoing 90-day pause in United States (US) tariffs, which offers breathing space to the global economy. Industry expert Denis Low said that, as a result, prices and demand are likely to remain balanced, with a slight inclination towards higher levels. He opined that the ongoing uncertainties caused by tariffs imposed by US President Donald Trump are certainly eroding economic optimism. 'Whenever optimism is lacking, the desire to be expansionary in all aspects of commerce will be affected. With such negativism prevailing, it can impact most commodities, including rubber, in two ways. 'The lack of optimism will reduce the willingness to increase production adequately. If left unchecked, this can balloon into a shortage, which is already beginning to occur in the rubber sector,' he told Bernama. Meanwhile, the Malaysian Rubber Glove Manufacturers Association (MARGMA) said the rubber market is expected to face mixed pressures next week, with the potential for supply disruptions balanced by continued demand from key sectors and supportive Chinese policies. The association noted that prices are expected to continue tracking the performance of regional rubber futures markets, the ringgit strengthening against the US dollar and benchmark crude oil prices. 'The wet weather season will continue to affect natural rubber supply in major producing countries, while developments related to US trade negotiations are still causing some uncertainties,' it said.
Barnama
26-05-2025
- Business
- Barnama
Rubber Market Ends Mixed Amid Lower Oil Prices, Stronger Ringgit
By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, May 23 (Bernama) -- The Malaysian rubber market closed mixed today, weighed down by declining crude oil prices and a firmer ringgit against the US dollar, a dealer said. She told Bernama that market sentiment was also influenced by movements in regional rubber futures markets. As of 5.10 pm, Brent crude oil prices had declined by 0.76 per cent to US$64.04 per barrel. At the time of writing, the local currency strengthened to 4.2285/4.2350 against the greenback, compared to Thursday's close of 4.2705/2765. 'Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible output hike by the Organisation of the Petroleum Exporting Countries Plus (OPEC+) in July. 'Thailand's meteorological agency also warned farmers of possible crop damage, adding that heavy rains and accumulation may cause flash floods from May 23–27, 2025,' said the dealer. At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR 20) decreased by 4.50 sen to 740.50 sen per kilogramme (kg), while latex in bulk rose five sen to 627.0 sen per kg. -- BERNAMA
