Malaysia Morning Wrap | Capital A Cancels US$1.15 Billion Brand Management Business Injection into Nasdaq-Listed SPAC

The government is actively working to ensure the construction sector remains competitive and sustainable, in light of anticipated increases in tender prices, stated Prime Minister Datuk Seri Anwar Ibrahim. He emphasized that the government is spearheading significant infrastructure projects to bolster the sector's resilience through enhanced public-private partnerships. Key initiatives include "the Sarawak-Sabah Link Road Phase 2," "the Pan-Borneo Highway upgrades," and "the data centre developments in Johor."

Palm oil, the most extensively utilized vegetable oil globally, has soared to its highest level in over two years, fueling worries about escalating food prices for consumers. On Wednesday in Kuala Lumpur, futures climbed as much as 2.6% to RM4,500 per metric ton, marking a peak not seen since July 2022. This surge, which represents a more than 20% increase this year, is driven by constrained supplies from major producers and robust demand for various other edible oils. This widely-used commodity, present in products ranging from cookies and ice cream to shampoo and animal feed, has not yet reached record prices. However, the significant rise in palm oil costs contributes to the broader increase in prices of global food staples, potentially leading to higher expenses at the grocery store.