MY Morning Wrap | Petronas Commits to Resolving Natural Gas Distribution Issues in Sarawak Amid Legal Speculation

Malaysia is set to create a center of excellence in education and training specifically tailored for youth from developing and post-war countries, announced Higher Education Minister Datuk Seri Dr. Zambry Abdul Kadir. The initiative, which emerged from bilateral discussions with global education and economic leaders during Zambry's recent visit to Switzerland, will focus on aiding countries such as Afghanistan, Iraq, Libya, and Timor Leste. This center, coordinated by the Institute of Malaysian and International Studies at Universiti Kebangsaan Malaysia, aims to provide quality higher education and improve access for students from these regions, aligning with Malaysia's goal to internationalize its educational offerings. The announcement highlights Malaysia's commitment to leveraging education as a platform for international collaboration and support to nations in need.

Deputy Prime Minister Datuk Seri Dr. Ahmad Zahid Hamidi announced from Shanghai that Malaysia is poised to receive RM4 billion in potential investments from Chinese companies in the halal sector. This announcement followed meetings held during the Malaysia-China Halal Business Forum, which Zahid attended with a Malaysian delegation. The investments are expected to span across diverse fields including herbal medicine, food and beverages, pharmaceuticals, cosmetics, and vaccines. Highlighting the seriousness of the commitment, Zahid noted that 40 Chinese companies have expressed strong interest in establishing operations in Malaysia, particularly attracted by incentives such as tax exemptions and streamlined procedures for setting up local manufacturing facilities. Additionally, these investments aim to leverage Malaysia’s strategic position in Southeast Asia to turn it into a global halal hub, integrated within the One Belt One Road initiative to enhance trade routes and efficiencies between China and Malaysia.

On September 10, 2024, the Malaysian Palm Oil Board (MPOB) reported that Malaysia's palm oil stocks reached a six-month peak in August, driven by the highest monthly production levels seen in nine years and a decline in exports. Stocks increased by 7.34% from July, totaling 1.88 million metric tonnes, the largest volume since February. Despite the production boost to 1.89 million tonnes, exports dropped by 9.74% to 1.53 million tonnes. This inventory build-up, coupled with sluggish demand from major markets like India and China, may pressure prices further, especially with Indonesia adjusting its biodiesel policy and export levy rates to enhance its market position.