Muhammad Asim

The global semiconductor chip shortage is severely affecting the automotive industry, leading to reduced production, plant closures, and rising prices. Caused by increased demand for electronics during the COVID-19 pandemic and compounded by natural disasters, experts predict the shortage will continue through 2022.

Malaysian oil and gas service provider Serba Dinamik is under scrutiny after auditor KPMG failed to verify contracts worth 3.5 billion ringgits. Major shareholders including PNB and EPF have expressed concerns, while the company plans to appoint an independent firm to review the contract issues amid an ongoing securities investigation.

The FAO Food Price Index surged in May to its highest point since 2011, marking the 12th consecutive month of increases. Prices have risen 4.8% compared to April 2021 and nearly 40% since May 2020, reflecting significant global food market volatility and potential economic challenges.

Malaysia's Department of Statistics reports impressive trade performance in April, with exports reaching RM 105.6 billion and imports at RM 85.1 billion, marking a significant recovery from the COVID-19 pandemic's economic impact.

Taiwanese tech giant Foxconn is exploring a minority stake investment in DNeX, the Malaysian firm that recently outbid Foxconn for semiconductor company SilTerra. Anonymous sources suggest negotiations are ongoing but not yet confirmed.

Malaysia's economic outlook shows promise despite pandemic challenges. The Statistics department reports positive March indicators, highlighting growth in approved housing units, metal imports, and new company registrations. Chief statistician Datuk Seri Dr Mohd Uzir Mahidin notes improvements in the leading index.

Singapore's economy grew by 1.3% in the first quarter of 2021, according to the Ministry of Trade and Industry. Despite the strong performance, the full-year GDP forecast remains unchanged. The government anticipates revising the forecast in August based on global and domestic economic conditions.

Malaysia's Petronas, a leading petroleum corporation, has signed its inaugural LNG deal using Canadian pricing indicators, marking a significant milestone in international energy trading for the state-owned company.

Singapore's non-oil domestic exports (NODX) grew 6% in April, lower than March's 11.9% increase. Growth was supported by hardware exports, semiconductor demand, and a rebound in petrochemical shipments.

Telecommunication leader Axiata Group Bhd is confident in raising its dividend payout to 20 sen per share by 2024, representing a RM1.8 billion distribution. CEO Datuk Izzaddin Idris highlights the company's focus on becoming a high-profit organization through strategic investments and digital transformation.