- PETRONAS is not pulling out of Canada
- PM Anwar launches ‘Madani City’ in Putrajaya
- Opposition leader Lee Jae-myung is the new South Korea President
IN Malaysia
PETRONAS is not ‘french-ing’ out of Canada
Contrary to earlier reports, the state-owned oil and gas company, PETRONAS will not be bailing out from the Canadian market, especially as the operator of the North Montney Joint Venture (NMJV) upstream gas project and as equity partner in LNG Canada, the RM169.7 bil liquefied natural gas (LNG) facility nearing completion in Kitimat, British Columbia. Previously, Bloomberg reported that PETRONAS is exploring options for its Canadian subsidiary, formerly Progress Energy Resources Corp, which could include a full or partial sale.
Source: https://theedgemalaysia.com/node/757773
With the imminent loss of the Sarawak market, it is not the time for PETRONAS to let go of its overseas businesses. Apart from Canada, PETRONAS is also doubling down on its relationship with China, as the company is developing more domestic sites to produce more LNG for China. These sites include new domestic gas fields such as Timi, Kasawari and Jerun, while continuing the development of Rosmari and Marjoram. China’s LNG imports surged to around 77 mil tonnes in 2024, up 8.1% from the previous year, driven by economic recovery and infrastructure expansion. In the future, China’s imports are expected to exceed 83 mil tonnes in 2025. At the moment, PETRONAS accounts for around 10% of China’s LNG imports. Let’s pray to God that there are no more political hands interfering with PETRONAS’ business activities (I am looking at you, Petros and Sarawak state government). God forbid we do not want to see PETRONAS turn into another Sapura.
Malaysia Darul Semiconductor
- Tata Electronics to enter into Malaysia – India-based and semiconductor giant, Tata Electronics, is looking to dip its toes into Malaysia via the acquisition of a fabrication, or semiconductor assembly and test (OSAT) plant. This news, given that it has become realised, will for sure boost Malaysia’s standing as a leading player in crucial chip packaging, assembly, and testing services. Plus, to those iOS fanboys who are cultured enough to use iPhones, Tata Electronics is also a major assembler and component manufacturer for Apple’s iPhone supply chain. Who knows one day we will become from buruh, nelayan, dan juga petani into buruh, nelayan dan juga pemasang iPhone.
- Kedah may be the epicentre of the new Malaysian-made chip – Kedah-based electronics manufacturing services (EMS) provider Aurelius Technologies Bhd (ATech) may be the key player behind the RM1.1 bil deal announced between the Malaysian Government and UK-based chip architect Arm Holdings plc to build the first ‘Made in Malaysia’ semiconductor chip. However, in a recent exclusive interview with The Edge at ATech’s headquarters in Kulim Hi-Tech Park, ATech CEO Loh Hock Chiang remains tight-lipped on the group’s specific role. Loh was one of the few selected participants in a panel session during the launch of Malaysia’s Silicon Vision initiative at Shangri-La Kuala Lumpur.
Shorts
- Beware, government agencies and GLCs, as PM Anwar Ibrahim has announced the setting up of a special task force to address serious financial irregularities to strengthen the credibility of the country’s fiscal management. The decision was made during the Special Cabinet Committee on National Governance, as the committee took a serious view of the audit findings on financial irregularities.
- While Tun Dr Mahathir and former PM Najib Razak have the PETRONAS Twin Towers and Menara PNB118 as their respective legacies, PM Anwar has just launched ‘Madani City’ in Putrajaya, a high-density, vertical city that aims to house over 30,000 residents across 102 acres. The vision for the city is to shape Putrajaya into a model city that embodies Madani values and aligns with the Chase City Vision. Chase City Vision is the federal government’s initiative to create clean, healthy, advanced, safe, and eco-friendly cities across the three federal territories of Kuala Lumpur, Putrajaya and Labuan. The first phase of the project is set to be completed and fully operational by the end of 2027.
Around the S.E.A.
South Korea’s opposition leader won the presidential election
2025 is truly the year of the underdogs. After Tottenham won the Europa League and Crystal Palace clinched the FA Cup title, now it is Lee Jae-myung, the leader of the opposition party in South Korea, to become the next president of South Korea. Asia-Pacific markets reacted positively to the win (South Korea’s stock exchange ↑ by 2.34%, Nvidia ↑ by nearly 3%, Broadcom and Micron Technology rose more than 3% and 4%), mainly thanks to Lee’s election pledge to enhance the value of the Korean stock market. This includes amending the commercial law to encourage boards to make fewer value-destructive decisions and more value-accretive ones, aggressive fiscal stimulus to revive the domestic economy and the handling of international trade matters pragmatically.
Source: https://www.cnbc.com/2025/06/04/asia-markets-today-june-4-2025.html
China still keras in suspending the export of rare earths
China still stick to its guns in enforcing the export ban of seven kinds of rare earth metals since April 4, which has caused increasingly severe shortages that threaten to close many factories in the United States and Europe. At the moment, rare earth metals are used in many things, from manufacturing cars to semiconductors, medical imaging chemicals, robots, offshore wind turbines and a wide range of military hardware. Currently, China mines 70% of the world’s rare earths. Myanmar, Australia and the United States mine most of the rest. But China does the chemical processing for 90% of the world’s rare earths because it refines all of its own ore and also practically all of Myanmar’s and nearly half of the US production. So, basically when China impose the rare earth export ban, the country basically has the whole world’s balls in its hands.
Source: https://www.nytimes.com/2025/06/03/business/rare-earth-metals-china.html
Fortunately, the export ban may not pose a problem to Malaysia as Australian-based Lynas Rare Earths Ltd has signed an initial pact with the state of Kelantan for the supply of mixed rare earth carbonate as future feedstock for its advanced materials plant in Pahang. Recently, Lynas has commenced its first production of separated heavy rare earths at its facility in Kuantan, Pahang, making the facility the only non-Chinese commercial producer of the materials. At the moment, Lynas’ plant in Kuantan has been exporting products to East Asia, the US, and Europe. Bare pate timor memang sedak dooh.
Source: https://theedgemalaysia.com/node/757331
For your EYES only
Who says Malaysians tak padu? In a recently surfaced video from social media, our badminton women’s duo, Pearly Tan and Thinaah Muralitharan, gave their all and survived a 211-shot rally. Kita nak achieve 211 steps pun susah.
