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Penang Port may lose 20% of cargo traffic volume

BUTTERWORTH: Penang Port may be at risk of losing 20% of its cargo traffic volume unless its logistics’ efficiency improves, said Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Joint Business Council (JBC) Malaysia chairman Datuk Faudzi Naim Noh.

Penang Port could lose 20% of its current cargo traffic volume, Faudzi(filepic) said in his speech at the Inter-modal Logistics in Digitalisation Conference.

Yasmin to relinquish MDEC CEO post on Jan 15

PETALING JAYA: Datuk Yasmin Mahmood has sent the board of directors of Malaysia Digital Economy Corp (MDEC) a notification that she will be relinquishing her position as chief executive officer.

“It is with a heavy heart that I am tendering my resignation as CEO of MDEC to pursue a role with a tech venture in Jakarta,” said Yasmin.(pic)

Gamuda proposes levy

PETALING JAYA: Gamuda Bhd has proposed a levy where developers would have to pay 2% of their total revenue based on sales to the government instead of having quotas imposed on them to provide a fund benefitting the below-40 (B40) population.

Gamuda Bhd group managing director Datuk Lin Yun Ling and deputy group managing director Mohammed Rashdan Mohd Yusof at the Gamuda Bhd AGM and press conference.yesterday. - AZLINA ABDULLAH/The Star

Sarawak to halt expansion of oil palm plantation

PUTRAJAYA: Sarawak state government will not issue any new licences for the expansion of oil palm plantations, in line with its commitment to halt their expansion, said Primary Industries Minister Teresa Kok.

“So the accusation that Malaysia is trying to expand its plantation area is not true, as both Sabah and Sarawak have given their commitment not to do so,” Teresa Kok (filepic) told reporters at the Certified Sustainable Palm Oil (CSPO) Forum 2018.

MB World to launch three projects in Iskandar Malaysia

JOHOR BARU: MB World Group Berhad (MBWG) is upbeat on the property outlook and prospects in Iskandar Malaysia and will launch three new property projects in the country’s first economic growth corridor next year.

Driving demand: The influx of domestic and foreign investors and new residents in south Johor has further driven demand for residential properties in Iskandar Malaysia, says Ng

Analyst reports

RHB Research believes the share price of Astro has bottomed out, following the sharp decline of about 52% year-to-date.

RHB Research maintains its “buy” call on Astro. But it has cut its target price for the counter to RM2.02 from RM2.30 previously after the group’s earnings for the nine months ended October 2018 fell short of the brokerage’s estimate.

Tesla to start production in China in second half 2019

SHANGHAI: Tesla Inc plans to start production in China in the second half of next year, the city of Shanghai said, as the US electric-carmaker advances its push in the world’s largest auto market.

Ambitious project: A security guard moves past Tesla electric vehicle charging station in Beijing. Tesla’s new plant, dubbed Gigafactory 3, will be the biggest ever foreign-invested manufacturing project in Shanghai. — AP

Hoarding for Brexit sparks race for warehouse space

LONDON: In a vast warehouse complex 64 km north of London, staff are wrestling with ways to cram in more goods after a surge in demand from companies building stockpiles ahead of Brexit.