Sarawak looks to boost economic ties with Singapore with launch of trade and tourism office

SINGAPORE: The Sarawak state government is hoping to boost its economic ties with Singapore following the opening of a?tourism and trade office at Robinson Road, said chief minister Abang Johari Openg.

Speaking to media during the soft opening of the office, Mr Abang Johari expressed hope that the new office will help to distribute Sarawak’s products – including food produce, machinery, lubricants as well as mineral fuels – to the global market.

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Cahya Mata: We are a monopoly, but anyone can supply cement in Sarawak

Cahya Mata Sarawak Bhd ?(CMSB), which is the sole cement supplier and manufacturer in Sarawak, is open for other players to participate in the market there.?

?We are a monopoly currently, but it?s an open market. Anyone can come in and supply cement in Sarawak. But, right now, we are the sole cement manufacturer,? said CMSB CEO Datuk Isaac Lugun.

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Sarawak to boost coffee production

KUCHING: Coffee production in Sarawak which currently stands at 256kg per ha is low, compared with the average national yield of 3.9 tonne per ha.

Deputy Chief Minister Datuk Amar Douglas Uggah Embas said this low yield per hectare was due to many factors, including logistics, environment, type of beans planted and lack of expertise.

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Local companies can help propel Sarawak economy: CEO

Serba Dinamik Holdings Berhad is convinced that local players can play a vital role in propelling Sarawak?s economy to greater heights.

Its group chief executive officer Datuk Mohd Abdul Karim Abdullah says the company is looking to assist local companies in two aspects.

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The rise of Sarawak’s digital economy

WHEN Datuk Patinggi Abang Johari Tun Openg took helm of Sarawak?s affairs, many of us were expecting to see a Chief Minister who would pick up the torch that Pehin Sri Adenan Satem had left so abruptly.

And we have.

In the last two years, we have seen a Sarawak government that is centred on increasing our autonomous rights, that calls for a higher share of petroleum royalty, and focuses on rural development.

But while Adenan?s vision and purpose have been continued, the Sarawak that we know now is vastly different from what we were used to as the government has now taken a different approach to secure our future.

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Local Bumiputera O&G vendors to benefit from PETRONAS-MED joint initiative

Progress in any industry needs a thriving ecosystem where multiple players ? both big and small ? engage and work together towards shared and mutually beneficial goals. Along the way, the players can and must create meaningful impact which positively reverb throughout the sector and wider economy.

In this context, it is rewarding to see PETRONAS? new vendor development program (VDP) to empower local players within the domestic oil and gas sector. The initiative, ?Program Lestari: Inisiatif Pemerkasaan Keusahawanan Bumiputera?, is a joint effort undertaken with the Entrepreneur Development Ministry (MED) to strategically support the significant number of bumiputera firms in the local oil and gas landscape.

Currently, there are 21 anchor companies in the program including PETRONAS for the oil and gas services and equipment sector. A total of 1,354 vendors are involved in this joint endeavour between PETRONAS and MED.

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Malaysia moves towards greener diesel

PUTRAJAYA: Malaysia is going for a greener diesel in February next year.

Prime Minister Tun Dr Mahathir?Mohamad launched the B10 Biodiesel Programme that will see the fuel ? comprising?10 per cent?palm oil biodiesel and 90 per cent?fossil diesel ? used by all types of diesel vehicles in the transportation sector beginning Feb 1, 2019.

The use of 10 per cent palm oil biodiesel in Malaysia for vehicles such as four-wheel-drive vehicles, lorries and buses will reduce the emission of greenhouse gases by 1.6 million tonnes of carbon dioxide equivalent per year, he said.

The B10 programme will contribute to reducing the emission of carbon dioxide by 10 per cent per year from the total number of diesel vehicles in the country, he said when launching the B10 Biodiesel Programme for the Transportation Sector at Dataran Putra here.

Pictured:?Prime Minister Tun Dr Mahathir Mohamad (second right) visiting an exhibition at launching of the B10 Biodiesel Programme?for the transportation sector at Dataran Putra. Also seen are Primary Industries Minister Teresa Kok (left) and Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Md Akin (right). ? Bernama

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Malaysia’s 10-month trade surplus records new high

Malaysia?s trade surplus in the 10 months through October recorded a new high, expanding by 6.5% to RM1.558 trillion in comparison to the same period in 2017, with exports soaring by 7.5% to RM829.89 billion and imports grew by 5.4% to RM727.88 billion.

For October this year, trade reached RM90 billion for the first time, cementing positive growth momentum with major economies such as China, European Union and USA.

According to Malaysia External Trade Statistics, released by the Ministry of International Trade and Industry (Miti) trade in October this year expanded by 14.8% to RM176.43 billion compared to the same month last year.

Statistics also show trade surplus for the first 10 months rose by 25.6% to RM102.01 billion compared to the same period last year.

Trade surplus widened by 63.1% to RM16.32 billion, the largest trade surplus ever recorded thus far.?This surplus marked the 252nd consecutive month of trade surplus?since November 1997.

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Petronas submits St Joseph, Sabah offshore infill drilling plan

Hibiscus Petroleum has updated progress on production improvement measures at the North Sabah production-sharing contract offshore Malaysia.

Last month operator Petronas submitted its development plan for the St Joseph infill drilling project. This will involve drilling three infill producer wells using a triple splitter wellhead on the St Joseph Jacket-A (SJJT-A) platform.

The program should lift oil production by around 2,600 b/d at peak and will necessitate only minimal modifications to the platform?s topsides facilities at the SJJT-A platform.

Hibiscus estimates total capex for the project at RM142.5 million ($34.3 million). Drilling is due to start next April followed by first oil in June 2019.

Picture: Hibiscus Petroleum Managing Director,?Kenneth Pereira

Source: Offshore Magazine

University gathers international experts to explore digital economy

In Miri, about 60 digital economy experts from different parts of the world gathered at Curtin University Malaysia to brainstorm ways to use digital technology for greater socio-economic benefits.

The university?s pro vice-chancellor Prof Jim Mienczakowski said the full potential of digital economy had not been achieved in Sarawak or Malaysia, and even in many advanced countries. ?Many developing countries have yet to benefit from the promises of Science, Technology and Innovation (STI).

?As such, there is a need to empower today?s industries with new tools to respond to global challenges.??Scientists and engineers in academia and the industry should promote national and international interests by advancing strategies for employing STI to address global challenges and improve development outcome.

?Despite the changes happening around us, one thing that has not changed is the pressure to find new ways of exploiting new knowledge,? he said.

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