MY Morning Wrap | Petronas Dagangan Reports Steady Q2 Net Profit, Announces 20 Sen Dividend

Malaysian Prime Minister Datuk Seri Anwar Ibrahim announced the elevation of Malaysia-India ties to a Comprehensive Strategic Partnership (CSP) during his visit to India. This advancement builds on the Enhanced Strategic Partnership established in 2015 and reflects a commitment to deepen collaboration across various sectors, including trade, education, and defense. Anwar praised India as a "true friend" and highlighted the intent to expedite cooperation in key areas, setting a three-month goal to tackle issues such as flights and visas. The move signals a renewed focus on enhancing the multifaceted relationship between the two nations.

Malaysia has decided to keep its crude palm oil export tax rate steady at 8% for September, while slightly increasing the reference price from RM3,880.86 to RM3,915.19 per metric tonne, according to the Malaysian Palm Oil Board. The export tax structure kicks in at 3% for prices between RM2,250 and RM2,400 per tonne, capping at 8% for prices above RM3,450 per tonne. This move reflects the government's tax policy amidst the pricing dynamics of the palm oil market, where Malaysia stands as the world's second-largest exporter.

The Iskandar Regional Development Authority (IRDA) chief executive, Datuk Dr Badrul Hisham Kassim, reported that Iskandar Malaysia has realised RM291.4 billion of its targeted investments, reaching 70% of the RM413.1 billion recorded since its establishment in 2006. This achievement puts the economic region on a confident path to hit its revised RM636 billion investment goal by 2030. The region is focusing on high-value, innovation-led sectors to drive growth, aligning with national plans such as the New Industrial Master Plan 2030 and the National Energy Transition Roadmap. Multinational companies have expanded their operations in the area, signaling robust development prospects. IRDA's future efforts will emphasize investment realization to create jobs, support local businesses, and improve infrastructure and living standards. Additionally, IRDA will facilitate the anticipated Johor-Singapore Special Economic Zone (JS-SEZ) through the Invest Malaysia Facilitation Centre Johor (IMFC-J), aiming to streamline investment processes and services.