MINISTRY OF
INTERNATIONAL TRADE AND INDUSTRY
VOLUME 574 VOLUME 574
MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY
18 February 2020 | NO. ISSN : 2180-0448
In 2019, exports of manufactured goods with value RM834.17 billion, accounted for a larger share of total exports at 84.6%
compared to 83.4% in 2018
Media Release
Weekly
BULLETIN BULLETIN
PENGERANG ENERGY COMPLEX TO BE ONE OF THE LARGEST INTEGRATED CONDENSATE SPLITTER
AND AROMATICS FACILITIES IN THE WORLD
Pengerang Energy Complex Sdn. Bhd. (PEC) during a meeting with YB Datuk Darell Leiking, Minister of International Trade and Industry at the Ministry of International Trade and Industry (MITI) on 13 February 2020, informed that the construction of PEC would commence by the middle of 2020. The commercial production of the project is targeted to commence in the fourth quarter of 2023. This USD3.4 billion (RM14.3 billion) project was secured by the Malaysian Investment Development Authority (MIDA) in 2018.
Upon completion in 2023, PEC will be one of the world’s largest integrated Condensate Splitter and Aromatics facilities, with the capacity of 150,000 barrels per day. It will generate US$5 billion in annual export turnover for Malaysia.
“This capital intensive project which involves fully automated processes, will also benefit the local workforce through the transfer of the company’s cutting edge technology and technical know-how. The company plans to recruit over 200 highly skilled Malaysian engineers and technical staff that will provide good career opportunities and a learning platform for Malaysian employees in all aspects of the chemical business. Pengerang Energy Complex Sdn. Bhd. will certainly be in the list of success stories in the years ahead,” said YB Datuk Darell Leiking.
PEC will receive long term supplies of feedstock from major international oil companies.
Leading Japanese, Chinese and Korean Trading Houses have committed to off-take the aromatics products. Maire Tecnimont S.p.A, a multinational group, and one of the leaders within the field of plant engineering is one of the selected engineering, procurement, construction and commissioning (EPCC) Contractors of the PEC project.
Ministry of International Trade & Industry 17 February 2020
MINISTRY OF
INTERNATIONAL TRADE AND INDUSTRY
DRIVING DOMESTIC INVESTMENT FOR EXPORT OPPORTUNITIES
A new era of investment and export-led growth is coming. In 2020, Malaysia will be undertaking extensive reforms of the investment process in order to improve the ease of doing business for both foreign and domestic investors. Domestic investors, in particular, will be encouraged to aggressively pursue export opportunities in new overseas markets.
The Ministry of International Trade and Industry (MITI) under the leadership of Minister Datuk Darell Leiking has taken on board the constructive feedback offered by investors and other stakeholders on how to improve the investment process in order to better drive economic growth towards achieving Malaysia’s vision of Shared Prosperity 2030.
YB Datuk Darell said that, “Investors can expect red tape to be cut, bureaucracy to be reduced, and the approval process to be streamlined in order to expedite the realisation of investment. MITI recognises that delayed investments mean deferred prosperity. Speed and quality is of the essence.”
We recognise that Malaysia remains a compelling investment destination due to its stability, good governance, cost competitiveness, and strategic location in the centre of ASEAN. Reforms will help to ensure that Malaysia retains its place as a premier destination and home for quality investment.
A new era of investment and export-led growth is coming. In 2020, Malaysia will be undertaking extensive reforms of the investment process in order to improve the ease of doing business for both foreign and domestic investors. Domestic investors, in particular, will be encouraged to aggressively pursue export opportunities in new overseas markets.
Media Release
In doing so, Malaysia seeks to remain true to its ambition to become a preferred investment destination for innovative and knowledge-intensive investments within high- growth and high-value sectors.
Foreign Direct Investment (FDI) has assumed a paramount role in Malaysia’s emergence as a dynamic and vibrant industrialising nation. The substantial inflows of FDI in the manufacturing sector over the last 50 years have been instrumental in Malaysia’s rapid economic growth. The Government will continue to seek quality FDI with high-value added and high technology features.
At the same time, inspired by the economic example of Japan, South Korea, and China, Malaysia seeks a renewed focus on turning domestic companies into global players.
The Malaysian market on its own is too small to offer the scale needed for global competitiveness, firms must look to regional and world markets and export products with greater added value. MITI, in conjunction with its Malaysia External Trade Development Corporation (MATRADE), is looking closely at diversifying exports to Africa, Central Asia, and Latin America in the coming year.
The government will intensify its efforts in facilitating more domestic direct investments (DDI) with greater specialisation in catalytic subsectors, namely Chemicals & Chemical Products, Electric & Electronics and Machinery & Equipment industries; high-growth subsectors, namely Aerospace and Medical Devices; and, other targeted industries which include Consumer Technology, E-Commerce, Renewable Energy, Smart Agriculture, Smart Technology and the Shared Economy. These sectors stand out due to strong inter- linkages with other sub-sectors and their capability to support the development of the manufacturing sector overall, as well as related services.
“MITI, through the Malaysian Investment Development Authority (MIDA), has been undertaking various domestic investment promotion programmes including spearheading initiatives to connect local companies and SMEs with multinational companies (MNCs) and large local corporations (LLCs) through industrial linkages programmes and supply chain conferences.
“MIDA has also undertaken an initiative known as the Domestic Investment Coordination Platform (DICP) to assist local companies or SMEs by bridging or narrowing their financial and technology gaps through strategic collaborations and joint ventures with financial institutions, equity firms, and technology providers,” said YB Datuk Darell.
MITI will continue to work in close collaboration with Ministry of Finance (MOF), the Central Bank of Malaysia (BNM), and all investment agencies to ensure relevant and specific measures to improve domestic investment are incorporated in the upcoming stimulus package, soon to be announced by MOF.
Along with initiatives under development in MITI’s New Industrial Master Plan (IMP), and a renewed focus on opening up new overseas markets, improvements in the domestic investment landscape will enable more Malaysian companies to become global players.
This will lay the foundations for greater prosperity for Malaysian companies and workers as we reach for the heights of economic development.
For further enquiries, you may contact:
Puan Jamaliah Hamzah Director
Investment Policy and Trade Facilitation Division Ministry of International Trade and Industry (MITI) Level 8, Menara MITI,
No. 7, Jalan Sultan Haji Ahmad Shah 50480 Kuala Lumpur,
Telephone Number: (603) 6208 4663
E-mail address: jamaliah.hamzah@miti.gov.my
Media Release
Media Release
MINISTRY OF
INTERNATIONAL TRADE AND INDUSTRY
The new National Automotive Policy, NAP2020 would be launched by YAB Tun Dr.
Mahathir Mohamad, Prime Minister of Malaysia on Friday, 21st February 2020, at the Ministry of International Trade and Industry (MITI).
NAP2020 is formulated to elevate Malaysia’s automotive industry to the next phase of industrial competitiveness, in line with the changing landscape of mobility within the global markets.
The automotive sector has been a prime mover of Malaysia’s industrialisation drive since the early 1980’s in allowing meaningful participation of Malaysian businesses and talents in the fields of science, engineering and technology.
The sector has grown into a national automotive ecosystem that includes vehicle manufacturers, parts and components suppliers, engineering services, full-fledged product and process design facilities. It has also created a robust aftermarket segment and accelerated the critical mass of talent involved in other high value sectors along the industry’s value chain and across the manufacturing sector.
To ensure a continuation of such meaningful participation within the industry, the Government has put emphasis on resources to ensure that the next technology acceleration curve would be in line with emerging trends surrounding transportation and mobility, as well as, allowing for clean energy technology adoption. The Government focusses on building strategic ties with industry players towards enhancing local talents’ capacity and development. Supporting the growth of automotive players remains as key priority area embedded in the policy.
The Government has taken into account all feedbacks obtained from the industry as well as improvement opportunities learned from previous national automotive policies. As an outcome, the NAP2020 is a product of arduous benchmarking, longstanding research, strategic planning and rigorous consultation with various stakeholders to determine the right balance between the current needs of industry players and the requirement to align those strategies with future demands of global automotive and mobility trends.
Ministry of International Trade and Industry 13 February, 2020
NATIONAL AUTOMOTIVE POLICY 2020
TO BE ANNOUNCED ON 21 FEBRUARY 2020
Malaysia Statistics
Malaysia Economic Performance, 2019
Malaysia's economy grew 4.3 per cent in 2019 Malaysia's economy grew 4.3 per cent in 2019
RM1.23T 4.4%
2016
RM1.30T
5.7% RM1.36T 4.7%
2018
RM1.42T 4.3%
2019
GDP at constant 2015 prices , % refer to Y-o-Y Growth Notes:
57.7% 57.7%
22.3%
7.1%
7.1%
4.7%
Production Production
Expenditure Expenditure
Manufacturing
RM316.4b 3.8%
RM101.6b 1.5%
Agriculture
RM101.3b 1.8%
Construction RM66.3b
0.1%
Import duties RM15.8b
1.2%
Services
RM819.2b 6.1%
1.1%
GDP 2019 RM1.420T
4.3%
Mining and quarrying
Private final consumption
expenditure
Government final consumption
expenditure
Gross fixed capital
formation Exports Imports
RM834.6b
7.6% RM173.b
2.0% RM328.4b
2.1% RM909.7b
1.1% RM805.9b 2.3%
• Food &
non-alcoholic beverages
•Restaurants &
hotels
•Transport
• Structure
•Machinery and equipment
• Goods
•Services
• Goods
• Spending on supplies and services
Source: Department of Statistics, Malaysia
2017
Food, Beverages and Tobacco
RM57.86 billion
7.9%
Malaysia Statistics
Source: Department of Statistics, Malaysia
Note: % refer to Y-o-Y Growth
Balance of payment, 2019
Investment performance, 2019
Malaysia's current account balance recorded RM49.7 billion
as against RM30.6 billion in 2018
2011 2012 2013 2014 2015 2016 2017 2018 2019
99.3 50.2 35.5 48.6 35.2 29.9 38.3 30.6 49.7
-- -49.5 -29.3 36.8 -27.6 -14.9 28.0 -20.1 62.6
RM billion
Goods
Surplus:RM125.5 bil.
Direct Investment
Net inflow:RM9.4 bil.
Portfolio Investment
Net outflow:RM37.7 bil.
Financial Derivatives
Net outflow:RM0.4 bil.
Other Investments
Net outflow:RM5.7 bil.
Current Account
Services
Deficit:RM10.9 bil.
Secondary income
Deficit:RM 21.4 bil.
Primary income
Deficit:RM43.5 bil.
Financial Account
%
% % % %
Foreign Direct Investment (FDI)
FDI flows in Malaysia recorded net inflow of RM32.8 billion in the 2019 compared to RM32.6 billion last year.
Direct Investment Abroad (DIA)
Malaysia’s DIA flows registered net outflow of RM23.3 billion in 2019 compared to RM21.3 billion in
previous year.
2019 FDI
RM32.8 billion
2019 DIA
RM23.3 billion
Statistics of International Trade in Services
Transport Equipment & Other Manufactures
Travel boosts Malaysia's Services Exports to record RM169.4 billion in 2019
Source: Department of Statistics, MalaysiaNote: % refer to Y-o-Y Growth
Credit:RM169.4 bil. 4.5%
TravelDebit:RM180.2 bil. 0.2%
Transport
Construction Financial services
Telecommunications, computer and information services Manufacturing services on physical inputs owned by others
Personal, cultural and recreational services Maintenance and repair services n.i.e.
Insurance and pension services
Charges for the use of intellectual property n.i.e.
Government goods and services n.i.e.
Other business services
RM2.1 bil.
0.7%
RM82.1 bil.
3.7%
RM21.6 bil.
5.6%
RM12.2 bil.
7.3%
RM11.8 bil.
2.1%
RM2.6 bil.
23.8%
RM2.6 bil.
8.0%
RM2.4 bil.
16.9%
RM1.4 bil.
12.9%
RM0.9 bil.
14.8%
RM0.3 bil.
0.3%
RM29.3 bil.
9.2%
Malaysia Statistics
RM51.2 bil.
4.1%
RM47.4 bil.
1.3%
RM14.5 bil.
10.1%
RM0.5 bil.
0.8%
RM5.6 bil.
51.8%
RM2.7bil.
5.6%
RM3.3 bil.
0.5%
RM9.7 bil.
1.7%
RM9.2 bil.
13.2%
RM1.1bil.
0.2%
RM32.9 bil.
7.7%
RM2.2 bil.
15.6%
Sustainable Development Goals Indicators
Cluster 4: Environment & Natural Resources
Goal 6: Clean Water & Sanitation Goal 7: Affordable & Clean Energy
Goal 12: Responsible Consumption & Productivity
Goal 13: Climate Action Goal 14: Life Below Water Goal 15: Life on Land
Indicator 15.1.1: Forest area as a proportion of total land area
The proportion of the forest area has decreased by 0.4 percentage points to 55.0 per cent in 2017 as compared to 2016 (55.4%).
Sarawak showed the highest proportion of forest area with 62.9 per cent, followed by Sabah (61.9%) and Pahang (57.2%). Meanwhile, Melaka recorded the lowest proportion of forest area with 3.1 per cent.
Figure 15.2: Forest area as a propotion of total land area by state, 2017
Indicator 15.7.1: Propotion of traded wildlife that was poached or illicitly trafficked
The number of wildlife crime cases increased to 1,618 cases in 2017 compared to 1,329 cases in 2016.
Figure 15.3: Number of wildlife crime cases, 2016 and 2017
Merchandise Trade Statistics
Sources: https://www.trademap.org/index.aspx
World largest exports of Machine tools for working any material by removal of material, operated by ultrasonic processes (excluding cleaning apparatus operated by
ultrasonic processes and material testing machines)*
1
2
3
5
4
Top Five Malaysia Export Destinations
1
1 MALAYSIA US$25.6m 24.9%
2
2
GERMANYUS$17.4m16.9%3
3
US$11.8mITALY11.5%4
4
US$7.3mUSA7.1%5 5
CHINA US$6.7m
6.5%
USA
US$14.5m
CHINA US$2.5m
UNITED KINGDOM
US$1.7m
GERMANY US$1.2m SINGAPORE
US$1.6m
Notes:
-*HS 845620
-% refer to share in world exports
In 2018, Malaysia’s export of Machine tools for working any material by removal of material, operated by ultrasonic processes (excluding cleaning apparatus operated by ultrasonic processes and material testing machines) recorded
US$25.6 million with 24.9% share to the world exports .
Robotics and Factory Automation Equipment:
Whole spectrum of integrated automation solutions for industrial manufacturing with particular emphasis on mechanical engineering and robotics for various industries.
G L O S S A RY
Source: http://www.miti.gov.my /index.php/glossaryA preferential trade agreement or free trade agreement, signed between countries in the same region (often located near to each other).
Regional Trade Agreements:
Refers to agreements between countries in a geographic region to reduce, and ultimately remove, tariffs and non-tariff barriers to facilitate the free flow of goods and services between one another.
In 2009 APEC Senior Officials agreed on a threefold comprehensive approach to accelerating regional economic integration – liberalizing trade and investment flows “at the border”, improving the business environment “behind the border”, and enhancing physical connectivity “across the border”.
Regional Economic Integration:
Refers to the expression of a common sense of identity and purpose combined with the creation and implementation of institutions that express a particular identity and shape collective action within a geographical region. Regionalism is a theory and action implemented by governments for trade liberalization or facilitation in a region, or carried out through free trade areas or customs unions (WTO definition).
Regionalism:
The service sector, also called the tertiary sector, is one of the three parts of the economy in the Three-sector hypothesis. This hypothesis breaks the economy into three main areas so it can be better understood. The other two are the primary sector, which covers areas such as farming, mining and fishing;
and the secondary sector which covers manufacturing and making things. The service sector provides a service, not an actual product that could be held in your hand. Activities in the service sector include retail, banks, hotels, real estate, education, health, social work, transport, computer services, recreation, media, communications, electricity, gas and water supply.
Services:
Safeguard Measures:
Action taken to protect a specific industry from an unexpected build-up of imports - generally governed by Article 19 of GATT. The Agriculture Agreement and Textiles and Clothing Agreement have different specific types of safeguards: “special safeguards” in agriculture, and
“transitional safeguards” in textiles and clothing.
A legally binding obligation for the implementation of PIC procedure on chemical trade.
Rotterdam Convention:
Preferential trade agreements (bilateral and regional PTAs) create fundamental conflicts with multilateralism in that they promote trade liberalization based on discrimination between members of those agreements and non-members. The Spaghetti Bowl Effect is an illustration of the complicated situation which occurs when products are brought into important markets by various ways depending on their origins. Globalization of production makes the identification process of product origins more difficult.
Spaghetti Bowl Effect:
Sales/purchase contract where the seller’s responsibility ends when goods are handed over to the first carrier
Shipment Contract:
The process of transforming a used product to as good as new condition by rebuilding its component parts back to its functionality performance specifications and also by replacing unbuildable parts with brand new components and carries an acceptable warranty period as to a brand new (similar) product manufactured by the Original Equipment Manufacturers (OEMs).
Remanufacturing:
Designing, building and construction of all types of floating vessels
Shipbuilding:
Note: *Provisional Data Source: Ministry of International Trade and Industry, Malaysia
0 20 40 60 80 100 120 140 160
0 5 10 15 20 25 30 35 40 45 50
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
Generalised System of Preferences (GSP)
Total FOB (RM mil.) Total CO
Note: The preference giving countries under the GSP scheme are Liechtenstein, the Russian Federation, Japan, Switzerland, Belarus, Kazakhstan and Norway.
Number and Value of Preferential Certificates of Origin (PCOs)
0 1,000 2,000 3,000 4,000 5,000 6,000
0 500 1,000 1,500 2,000 2,500 3,000 3,500
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
ASEAN Trade in Goods Agreement (ATIGA)
Total FOB (RM mil.) Total CO
0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500
0 2,000 4,000 6,000 8,000 10,000 12,000
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
ASEAN-China Free Trade Agreement (ACFTA)
Total FOB (RM mil.) Total CO
0 100 200 300 400 500 600 700 800 900 1,000
0 100 200 300 400 500 600
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
ASEAN-Korea Free Trade Agreement (AKFTA)
Total FOB (RM mil.) Total CO
0 50 100 150 200 250 300 350
0 20 40 60 80 100 120 140
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
ASEAN-Japan Comprehensive Economic Partnership (AJCEP)
Total FOB (RM mil.) Total CO
0 100 200 300 400 500 600 700 800 900
0 50 100 150 200 250 300 350
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
ASEAN-India Free Trade Agreement (AIFTA)
Total FOB (RM mil.) Total CO
0 200 400 600 800 1,000 1,200
0 20 40 60 80 100 120
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)
Total FOB (RM mil.) Total CO
Sale s V alu e
Number and Value of Preferential Certificates of Origin (PCOs)
0 200 400 600 800 1,000 1,200
0 50 100 150 200 250 300 350
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
Malaysia-Japan Economic Partnership Agreement (MJEPA)
Total FOB (RM mil.) Total CO
0 50 100 150 200 250 300
0 20 40 60 80 100 120 140 160
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA)
Total FOB (RM mil.) Total CO
0 1 2 3 4 5 6 7 8
0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
Malaysia-New Zealand Free Trade Agreement (MNZFTA)
Total FOB (RM mil.) Total CO
0 10 20 30 40 50 60 70 80
0 10 20 30 40 50 60 70 80 90 100
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
Malaysia-Chile Free Trade Agreement (MCFTA)
Total FOB (RM mil.) Total CO
0 50 100 150 200 250 300 350 400 450 500
0 20 40 60 80 100 120
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA)
Total FOB (RM mil.) Total CO
0 100 200 300 400 500 600 700
0 10 20 30 40 50 60
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
Malaysia-Australia Free Trade Agreement (MAFTA)
Total FOB (RM mil.) Total CO
0 50 100 150 200 250 300 350 400
0 20 40 60 80 100 120 140 160 180 200
24 Nov 1 Dec 8 Dec 15 Dec 22 Dec 29 Dec 5 Jan 12 Jan 19 Jan 26 Jan 2 Feb 9 Feb No. of Certificate of Origin
RM mil.
Malaysia-Turkey Free Trade Agreement (MTFTA)
Total FOB (RM mil.) Total CO
Note: *Provisional Data Source: Ministry of International Trade and Industry, Malaysia
Source : Bank Negara Malaysia
Malaysian Ringgit Exchange Rate with Selected Countries, January 2019 - January 2020
US Dollar
Euro
South Korean Won
Pound Sterling
Australian Dollar
Brunei Dollar
4.1161
4.0746
4.1881
4.0797
4.06 4.08 4.10 4.12 4.14 4.16 4.18 4.20
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2019 2020
RM
USD 1 = RM
4.7037
4.5321 4.50
4.55 4.60 4.65 4.70 4.75
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2019 2020
RM
EUR 1 = RM
0.3670
0.3461
0.3499
0.34 0.34 0.35 0.35 0.36 0.36 0.37 0.37
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2019 2020
RM
KRW 100 = RM
5.3068
5.0895
5.4393 5.3343
5.00 5.05 5.10 5.15 5.20 5.25 5.30 5.35 5.40 5.45 5.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2019 2020
RM
GBP 1 = RM
2.9415
2.8027
2.75 2.80 2.85 2.90 2.95 3.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2019 2020
RM
AUD 1 = RM
3.0350
3.0091
3.0566
3.0204
3.00 3.01 3.02 3.03 3.04 3.05 3.06
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2019 2020
RM
BND 1 = RM
%*
US$260.0 (low) US$280.0
%*
(high)
14 February 2020 5.2%*
US$57.3
US$44.1
%*
0.5%*
US$1,817.2
Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Iron and Steel Industry Federation, and Bloomberg.
Commodity Prices
Notes: All figures have been rounded to the nearest decimal point * Refer to % change from the previous week’s price i Average price in the year except otherwise indicated
CRUDE PETROLEUM (BRENT) -per bbl-
14 February 2020
CRUDE PALM OIL -per MT-
7.1%*
US$647.9
14 February 2020
RUBBER SMR 20 -per MT-
1.9%*
US$1,348.5
COCOA SMC 2 -per MT-
COAL -per MT-
SUGAR -per lbs-
2.5%*
US$14.6
SCRAP IRON HMS -per MT-
17 May 2019 : US$72.2
Highest
2019/2020
03 Jan 2020 : US$68.6
7 Feb 2020 : US$50.3 09 Aug 2019 : US$54.5
Lowest 2019/2020
27 Dec 2019 : US$794.5
Highest
2019/2020
10 Jan 2020 : US$761.9
14 Feb 2020 : US$647.9 26 Jul 2019 : US$488.5
Lowest 2019/2020 Average Price 2019 i : US$64.2 Average Price 2019 i : US$557.1
Average Price 2019 i : US$1,414.6 Average Price 2019 i : US$1,592.4 Average Price 2019 i : US¢12.4
Average Price 2019 i : US$316.9 (high) Average Price 2019 i : US$291.6(low) Average Price 2019 i : US$56.5
Domestic Prices
14 February 2020
Steel Bars
(per MT)
RM2,100– RM2,250
Billets
(per MT) RM1,750 - RM1,850
14 February 2020 14 February 2020 14 February 2020
14 February 2020
Commodity Price Trends
Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Pepper Board, Bloomberg and Czarnikow Group, World Bank, World Gold Council, The Wall Street Journal.
1,684.1 1,663.7
1,623.8
1,515.5 1,512.8
1,652.6 1,659.3
1,778.5 1,826.8
1,840.5
1,807.7 1,817.2
1,500 1,550 1,600 1,650 1,700 1,750 1,800 1,850 1,900
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/mt
Cocoa
1,879 1,858
1,8401,841 2,098
1,859 1,8671,876 1,875 1,864
1,843
1,788
1,750.0 1,800.0 1,850.0 1,900.0 1,950.0 2,000.0 2,050.0 2,100.0 2,150.0
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/mt
Pepper
1,401.5 1,490.01,499.5
1,442.0 1,449.5
1,484.51,492.5 1,524.5
1,470.5
1,367.5
1,324.0 1,348.5
1,320 1,370 1,420 1,470 1,520 1,570
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/mt
Rubber SMR 20
55.2
59.2 60.1 60.4
61.7 63.1
59.0 58.5
54.2
51.6 50.3 52.1 62.4
64.4 65.2 66.1
68.2 68.6
65.0 64.9
60.7 58.2
54.5 57.3
40 45 50 55 60 65 70 75
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/bbl
Crude Petroleum
Crude Petroleum (WTI)/bbl Crude Petroleum (Brent)/bbl 637.2
662.1
687.6695.6 724.3
745.6 761.9
731.4 734.2
655.5 697.7
647.9
590 610 630 650 670 690 710 730 750 770 790
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/mt
Crude Palm Oil
12.9 13.2
13.5 13.5 13.5 13.3
14.1
14.5 14.4 14.6
14.9
14.6
11.8 12.3 12.8 13.3 13.8 14.3 14.8 15.3
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US¢/lbs
Sugar
17.1
16.6 17.0
17.2 17.9
18.2 18.1 18.1 18.1 18.0
17.7 17.7
16.2 16.7 17.2 17.7 18.2 18.7
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/oz
Silver
46.9 46.9 47.2 47.6
48.6
49.8 50.0 50.1 50.3 50.9
50.6 50.8
46.0 47.0 48.0 49.0 50.0 51.0 52.0
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/g
Gold
Sources: Ministry of International Trade and Industry Malaysia, , Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group, World Bank, World Gold Council, The Wall Street Journal.
2,300 2,238 2,082 2,052 2,026 2,030 1,939 1,920 1,854 1,863 1,871 1,845 1,781 1,756 1,797 1,741 1,754 1,726 1,775 1,771 1,773
1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2,200 2,300 2,400
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2018 2019 2020
US$/ tonne
Aluminium
6,825 6,966 6,251 6,051 6,051 6,220 6,196 6,075 5,939 6,300 6,439 6,438 6,018 5,882 5,941 5,709 5,759 5,757 5,860 6,077 6,031
4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2018 2019 2020
US$/ tonne
Copper
14,366 15,106 13,794 13,411 12,510 12,315 11,240 10,835 11,523 12,685 13,026 12,773 12,016 11,944 13,546 15,749 17,657 17,046 15,172 13,829 13,507
7,000 9,000 11,000 13,000 15,000 17,000 19,000
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2018 2019 2020
US$/ tonne
Nickel
Commodity Price Trends
66.10 65.04 64.56 67.15 68.44 73.41 73.26 69.15 76.16 88.22 86.47 93.70 100.15 108.94 120.24 93.07 93.08 88.53 84.98 92.65 95.76
50.0 60.0 70.0 80.0 90.0 100.0 110.0 120.0 130.0
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar AprMay Jun Jul Aug Sep Oct Nov Dec Jan
2018 2019 2020
US$/dmtu
Iron Ore
900.4 898.9 928.8
913.8 950.4
990.3 986.0 1,024.8
1,010.6
961.9969.2 968.8
880.0 900.0 920.0 940.0 960.0 980.0 1,000.0 1,020.0 1,040.0
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/oz
Platinum
300.0 310.0
320.0
300.0 300.0 300.0 300.0 300.0 300.0 300.0
280.0 280.0 280.0 285.0 290.0
280.0 280.0 280.0 290.0
280.0 280.0 280.0
260.0 260.0
200 220 240 260 280 300 320 340
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb 2020
US$/mt
Scrap Iron Scrap Iron/MT (High) Scrap Iron/MT(Low)
46.1
45.6 45.6 45.6 45.6 45.6 45.6 45.6 45.6 46.1
44.1 44.1
43 44 44 45 45 46 46 47 47
29 Nov 6 Dec 13 Dec 20 Dec 27 Dec 03 Jan 10 Jan 17 Jan 24 Jan 31 Jan 7 Feb 14 Feb
2019 2020
US$/t
Coal
MITI PROGRAMMES
Courtesy call by H.E. Lee Chi-Beom, the South Korean
Ambassador to Malaysia , 13 February 2020
All you need to know...
For more information, kindly click the following links:
https://www.miti.gov.my/index.php/pages/view/industry4WRD?mid=559#tab_547_2202
All you need to know...
For more information, kindly click the following links:
https://www.miti.gov.my/index.php/pages/view/industry4WRD
For more information, kindly click the following links:
http://www.miti.gov.my/index.php/pages/view/4761 For more information, kindly click the following links:
https://www.miti.gov.my/index.php/pages/view/aki?mid=535
For more information, kindly click the following links:
https://bit.ly/2MyIPFt
For information, kindly click
https://fta.miti.gov.my/index.php/pages/view/69?mid=27
Date Venue Topic
11 March MITI Perak
Introduction to FTAs Introduction to Preferential
Certificate of Origin (PCO) 8 April MITI HQ
10 June MITI Johor 24 June MITI HQ 15 July MITI Penang 12 August MITI HQ 2 September MITI Kelantan 14 October MITI HQ 4 November MITI Pahang
Tentative Schedule for MITI Pocket Talks 2020
For more information, kindly click the following links:
https://bit.ly/2tnfHdg
For more information, kindly click the following links:
https://bit.ly/2UmkAyo
For more information, kindly click the following links:
https://bit.ly/2UoZwrg
For more information and application, kindly click the following links:
https://www.miti.gov.my/index.php/pages/view/3720
Dear Readers,
Kindly click the link below for any comments in this issue. MWB reserves the right to edit and republish letters as reprints.
http://www.miti.gov.my/index.php/forms/form/13
MITI Weekly Bulletin (MWB) Mobile Apps
MITI MWB APPs is now available for IOS, Android and Windows platforms.MWB APPs can be downloaded from Gallery of Malaysian Government Mobile APPs (GAMMA) at the link:
http://gamma.malaysia.gov.my/#/appDetails/85
Be part of something BIG?
Come and join us, be a volunteer for APEC 2020!
For more information about the volunteer program, kindly click the following link:
https://www.miti.gov.my/index.php/pages/view/5657?mid=626