Business

Malaysia's trade performance hit a new milestone in April, with exports reaching RM 105.6 billion, a 63% year-on-year increase. The Department of Statistics reported a trade surplus of RM 20.5 billion, driven primarily by strong domestic exports.

Taiwanese tech giant Foxconn is exploring a minority stake investment in DNeX's SilTerra semiconductor business after being outbid in February. Anonymous sources suggest ongoing negotiations, though no final agreement has been reached. The potential partnership could expand DNeX's technological capabilities and Foxconn's market presence.

Malaysia's economic outlook improves despite pandemic challenges. The Statistics department reports positive March indicators, driven by increased housing approvals, metal imports, and new company registrations. Chief statistician Datuk Seri Dr Mohd Uzir Mahidin highlights the leading index's growth, signaling potential economic recovery.

Amazon is set to include Pakistani sellers on its global e-commerce platform, marking a significant breakthrough for Pakistan's online trade. This development promises to open international markets, create job opportunities, and generate revenue for Pakistani entrepreneurs seeking global exposure.

Singapore's economy showed resilience in the first quarter of 2021, with a 1.3% growth according to the Ministry of Trade and Industry. Despite ongoing pandemic challenges, the economic performance suggests potential stability, with a full-year forecast to be revisited in August.

Malaysian banks with A3 stable outlook benefit from a diversified economy and strong institutional framework. Despite 2020 recession, GDP is expected to rise 5-5.5% with firm growth prospects, supported by well-developed infrastructure and effective macroeconomic policies.

[Malaysia's state-owned Petronas makes history by using Canadian pricing indicators for an LNG cargo sale to a Far East buyer, highlighting the company's global market approach and innovative trading strategy.]

Tesla Inc. has secured a 9 billion yuan ($1.29 billion) term loan from Chinese lenders to support its Shanghai Gigafactory operations. The electric car maker also established an additional 2.25 billion yuan revolving loan facility, using proceeds to repay an existing bridge loan.

Singapore's exports continued to grow in April, expanding by 6% with notable increases in semiconductor, petrochemical, and electronic sectors. Key growth areas included hardware exports, rising 54.3%, and electronic NODX increasing by 10.9%, supported by strong demand for computers, diodes, and semiconductors.

Telecommunication giant Axiata Group is confident in raising its profit payout to 20 sen per share by 2024, representing a RM1.8 billion distribution. CEO Datuk Izzaddin Idris highlights the company's strategy to become a high-profit organization with robust financial fundamentals.