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Latest Telecom Fraud Crackdown in Bokeo SEZ: Thousands of Devices Seized

The authority while the operation (Photo: Lao National Radio)

In the latest crackdown against telecommunications fraud, authorities in the Golden Triangle Special Economic Zone (SEZ) in Bokeo Province sized thousands of electronic devices.

Banyan Group Launches Stylish Skypark Elara Lakelands at Visionary New Laguna Lakelands in Phuket

The newest addition to the pioneering USD2bn residential community follows the near sell-out launch of Phase One Laguna Lakeview Residences


PHUKET, THAILAND – Media OutReach Newswire – 4 September 2024 – Banyan Group is launching a new collection of stylish Skypark residences at its pioneering new eco-friendly residential community in Phuket, following the successful sale of the Laguna Lakeview Residences.

Banyan Group Launches Stylish Skypark Elara Lakelands at Visionary New Laguna Lakelands in Phuket

Skypark Elara Lakelands, which is located on a site adjacent to the Lakeview Residences, with equally serene lagoon views, provides residents with beautifully designed luxury condos that add convenience and style to tropical living. Three blocks of the low-rise seven-storey Skypark Elara Lakelands, totalling around 220 units, are being released in the first phase.

Skypark Residences is one of Banyan Group’s contemporary lifestyle brands which allows residents to literally “reach for the sky”, with rooftop living experiences and stunning interiors, in a range of live-in and residential properties across the world’s most premier destinations.

The Skypark Residences at Laguna Lakelands represents a significant evolution of the brand, with luxurious fit outs and bigger sizes than previous developments, with units ranging from 54 sqm all the way up to 183 sqm, in one to three-bedroom configurations.

Residents at Skypark Elara Lakelands will enjoy exclusive access to leisure facilities on the rooftop including the signature infinity-edge swimming pool with stunning views and an expansive outdoor terrace with a barbecue area, comfortable sitting out spaces and walking paths overlooking the forest and tranquil lagoons.

With prices starting from THB 8m, the Skypark Elara Lakelands residences are expected to be swiftly snapped up by buyers from all over the world, like the previously released Laguna Lakeview Residences.

Developed by the Banyan Group, whose iconic Banyan Tree brand has become one of the most admired and successful Asian hospitality brands, Skypark Elara is located at Laguna Lakelands on the Central West coast of Phuket next to Asia’s biggest and most iconic integrated resort, Laguna Phuket, to which residents also have access.

Spanning no less than one million square metres (700 rai or 276 acres) of botanical gardens, parks, rainforest, tranquil lagoons and rolling hills, Laguna Lakelands will be Phuket’s largest private residential community, and a self-contained green sanctuary designed for a new community of global citizens seeking high quality lifestyle balanced by nature.

Designed in a neutral palate of natural woodland colours, the stylish and contemporary Skypark Elara residences are designed to evoke the feeling of being hidden away in the forest, with the interior design reflecting its lush colours and textures.

The generously proportioned one, two and three bedroom open-plan configurations ranging from 54 to 183 sqm are ideal for all needs and budgets, and all feature unique foldable “work closets” which have been purpose built for today’s flexible work-from-home lifestyle.

Inspired by the colours and textures of the forest, the open and spacious designs accentuate nature and blend harmoniously with the natural tropical garden surroundings. Each has a private balcony and all are set within verdant lawns and parks.

The launch of Skypark Elara Lakelands comes as the Phuket real estate market is booming, fuelled by an increasing desire for families from all over the world to enjoy a second home in Phuket, or even to relocate there.

“We decided to launch Skyark Elara Lakelands now after the strong demand we have seen for the first phase of Lakeview Residences, which has exceeded our own expectations by a long way,” said Banyan Group founder and Executive Chairman KP Ho.

“This latest addition to Laguna Lakelands brings more spacious room configurations than our previous Skypark projects and a brand new attractive design with more elevated materials, which we think will appeal to the many people now looking for a place in Phuket either as a second home or as a primary residence.”

“High-quality property is still significantly cheaper in Phuket than in most of the buyer source markets like Hong Kong, Singapore or Europe, which is also an important factor,” he said.

Phuket’s strategic location within 5 or 6 hours flight of over 40% of the world’s population, its attractive year round climate and world-class international schools and hospitals are also part of its growing attraction.

Uniquely for Thailand, the developer also offers financing options which allow owners to purchase residences with staged payments over several years.

About Laguna Lakelands

The latest project by world-famous Laguna Phuket

Set within one square kilometre of verdant hills, forests and lakes with a private beachfront club

Laguna Lakelands is more than just a place to live

Themed Hillside, Orchard, Forest, and Lakeside precincts retain unique identities within a cohesive nature-centric community.

Interwoven by a 15 km network of trails, spacious apartments with rooftop sky parks or opulent waterfront villas grace the expansive landscapes of rainforests, botanical gardens, and serene lagoons.

A hillside adventure park, sports and aquatic complex, and a community centre in a vibrant town center anchor the entire community. And to top it off, its own prime beachfront beach club.
Hashtag: #BanyanGroup

The issuer is solely responsible for the content of this announcement.

About Laguna Phuket

Laguna Phuket is Asia’s premier integrated destination. Set against the stunning backdrop of the Andaman Sea, on a 3km stretch of pristine beach, Laguna Phuket is home to six world-class hotels, premium facilities and a branded residences and property division. Spanning over 1,000 acres of lush parkland and beachfront and located just a 30-minute drive from Phuket International Airport, Laguna Phuket offers an award-winning 18-hole golf course, luxury spas, exceptional dining options, and countless activities to create unforgettable experiences.

With more than 1,400 rooms, the destination offers accommodations that suit all, from families with young children to intimate, luxurious stays. Hotel guests staying within Laguna Phuket are welcome to enjoy the unlimited shuttle bus and shuttle boat service and the fully integrated cashless payment system – meaning guests can choose to charge expenses back to their room from anywhere in the destination. On top of the 6 Hotels, Laguna Phuket has a Branded Property division that offers sales and rentals of a variety of residences, apartments and villas for guests who wishes to live or invest in a holiday home within our integrated destination.

About Banyan Group

Banyan Group (“Banyan Tree Holdings Limited” or the “Group” – SGX: B58) is an independent, global hospitality company with purpose. The Group prides itself on its pioneering spirit, design-led experiences and commitment to responsible stewardship. Its extensive portfolio spans across 80 hotels and resorts, over 60 spas and galleries, and 14 branded residences in over 20 countries. Comprising 12 global brands, including the flagship brand Banyan Tree, each distinct yet united under the experiential membership programme withBanyan. The founding ethos of “Embracing the Environment, Empowering People” is embodied through the Banyan Global Foundation and Banyan Management Academy. Banyan Group is committed to remaining the leading advocate of sustainable travel, with a focus on regenerative tourism and innovative programmes that elevate the guest experience.

Nam Theun 2 Development Fund Expands to Benefit More Districts

Nam Theun 2 Development Fund Expands to Benefit More Districts
Vanxay Phongsavanh, Khammouane Governor and Marc-Antoine Rupp, Nam Theun 2 Chief Executive officer co-chaired the eighth steering committee meeting for the Nam Theun 2 Development Fund (NT2DF)

The Nam Theun 2 Development Fund (NT2DF) is set to expand its reach beyond Nakai’s resettled villages, bringing the transformative projects to the entire district and soon to neighboring Gnommalath and Mahaxay districts.

Yoyo Laos Sauce Spices Up the World Stage with New Laos Production Hub

Photo supplied

Yoyo Laos Sauce is making a significant leap onto the global stage. Originally produced in Yorkshire, UK, by Lao-British couple Frazer and Hatsadee “Yoyo” Rhodes, the sauce will now be manufactured in Laos thanks to a new partnership with Mai Savanh Laos, a local social enterprise.

It all began in 2020 when Yoyo served her homemade ginger chili sauce to friends during the Covid-19 pandemic. The response was overwhelmingly positive, she recalled.

“They dipped it non-stop with their sticky rice. They told me, ‘Yoyo, it’s so good. I can’t stop eating it,’” Yoyo said.

Inspired by their friends’ enthusiasm, Frazer saw the pandemic as an opportunity to launch a business. With supermarkets being one of the few places people could buy food, he proposed selling their sauce there.

“So we bought some bottles, made a really simple label, and started making the sauce. We took it to the market, and it all sold,” Frazer said, reflecting on how the couple began producing the sauce at home.

This initial success quickly led to further opportunities, allowing the Rhodes family to expand production to their own factory.

“Then we got into our first shop, then our first restaurant, and then we received our first international order. It just kept growing and growing. We developed more sauces and built a bigger range,” Frazer added.

Frazer emphasized that the sauce is made by hand by the couple and their team to ensure top-quality ingredients. They believe that this manual process, rather than using machines, achieves the best results.

Moving to Laos and Partnering with Local Businesses

As their business grew, the Rhodes family realized they needed to scale up production. They sought out manufacturers in the UK willing to hand-make the Lao-style sauce but found this effort futile.

Their luck changed when they visited Yoyo’s home country of Laos in January this year. In Laos, Frazer discovered a small bottle of sauce with a design similar to their own, sparking the idea of shifting production to Laos, where ingredients are “fresher.”

Noticing the label “Produced by Mai Savanh Laos,” he emailed them as Yoyo Laos Sauce from the UK to express interest. Frazer quickly met Schmidt Philippe, CEO of Mai Savanh Laos, who offered to help expand their brand, aligning with their mutual goal of promoting Lao products.

By November, the Rhodes family plans to ship 35,000 bottles back to the UK. The enhanced production process in Laos has also created jobs for locals. There are currently three production sites in Laos—Vientiane, Bolaven, and Sekong—employing 51 workers, including 61 percent women and 43 percent ethnic minorities, many of whom have been marginalized in Laos.

During their time in Laos, Yoyo Laos Sauce also partnered with The Mines Advisory Group (MAG), a UK-based charity, where they also donated their sauce.

“The production costs here are lower than in the UK, which means we can offer a better price to retailers, who can then make a better margin,” Frazer explained. “Now we’re starting to get interest from other places, like the Middle East, Dubai, and Japan.”

Some of their products are already available in Vientiane, and they plan to expand distribution to more shops nationwide starting in September.

Despite the progress, the transition has not been without challenges. Yoyo noted that achieving the same taste as the original UK recipe required numerous adjustments. “The team has done about 30 or 40 different tests. It’s taken many attempts, with slight changes each time,” she said.

Raising Awareness of Laos

In addition to business growth, the Rhodes family aims to increase awareness of Laos. “A lot of customers in the UK ask us, ‘What is Laos? Where is Laos?’” Yoyo said. To address this, the sauce labels include a QR code linking to information about Laos.

The family is also conducting research with locals to gather more information about the country. “We’d like to get some interviews with the staff and learn about their history and background,” Frazer added.

Yoyo Laos Sauce can be used as a dipping sauce, marinade, or added to stir-fries and salads to spice things up. As they say in Laos, “Sap lai lai,” which means very tasty.

The sauce’s popularity soared after winning Great Taste™ awards in 2021, 2022, 2023, and 2024, along with the winner of the UK National Chilli Awards in 2022.

“Some of the awards we’ve won have all been blind taste tests. The judges don’t see any packaging; they just get a little pot, taste it, and judge. Winning the UK National Chilli Awards, ranking 18th globally, getting an award for the European Hot Sauce Awards, and the Great Taste Awards—it’s all a big honor,” Frazer said.

Laos Weather Alert: Thunderstorms Expected as Storm Yagi Intensifies in South China Sea

Laos Braces for Continued Rainfall, Flooding, Authorities Issue Warnings
FILE: A rainy day in Laos in That Dam stupa area (photo: Nouthaphone Simmavong)

As storm Yagi continues to intensify into a typhoon, it has yet to make a direct impact on Laos. However, heavy rainfalls and thunderstorms are expected across the country.

According to the government’s Department of Meteorology and Hydrology, the low-pressure currently traversing Laos is expected to persist, bringing moderate to heavy thunderstorms and gusty winds across the central and southern regions. Meanwhile, Storm Yagi, now classified as a tropical cyclone, is projected to enter the northern part of the South China Sea between 4 and 5 September. Although it has not yet affected Laos, its growing strength is likely to influence weather patterns in the country.

National Weather Forecasts:

– North-East (Phongsaly, Houaphanh, Xiengkhouang): Light thunderstorms are anticipated, with moderate to heavy rainfall in Phongsaly and Xiengkhouang with temperatures ranging from 19°C to 29°C.

– North-West (Luang Namtha, Bokeo, Oudomxay, Luang Prabang, Xayaboury): Thunderstorms, both light and moderate, will be prevalent, accompanied by heavy rainfall and strong winds in some areas. Rain is expected to cover 65% of the region, with temperatures between 22°C and 34°C.

– Vientiane Capital: The capital will experience thunderstorms with lightning and moderate rainfall. Temperatures are forecasted to range from 24°C to 34°C.

– Central Regions (Vientiane province, Bolikhamxay, Khammouan, Savannakhet):  The regions will likely be affected by light thunderstorms, with moderate rainfall and strong winds. Rain will cover up to 50% of the region, with temperatures ranging from 23°C to 34°C.

– Xaysomboun Province: Light to moderate thunderstorms are expected. Temperatures will range between 20°C and 32°C.

– South (Salavanh, Champasak, Sekong, Attapeu): The southern provinces will see thunderstorms with lightning and moderate to heavy rainfall, particularly in the afternoon to evening. Rainfall will cover 60% of the region, with temperatures between 22°C and 35°C.

Residents are advised to stay updated on weather conditions and take necessary precautions, especially in areas prone to heavy rainfall and strong winds. 

MDRT appoints first Singaporean as President of global organization’s leadership team

SINGAPORE – Media Outreach Newswire – 4 September 2024 – MDRT, The Premier Association of Financial Professionals®, has appointed Carol Kheng, ChFC, as the 99th President of the association’s Executive Committee. Kheng, a private wealth consultant with Prudential Assurance Company Singapore, will focus on strengthening the global network of MDRT professionals and celebrating member accomplishments as they continue to reach new heights of personal and professional success.

Carol Kheng, ChFC, the 99th President of MDRT, will boost opportunities to help members learn and attain even higher levels of personal and professional success.

Carol Kheng, ChFC, the 99th President of MDRT, will boost opportunities to help members learn and attain even higher levels of personal and professional success.

Kheng, a 26-year MDRT member, succeeds 25-year MDRT member Gregory B. Gagne, ChFC, who transitioned to Immediate Past President on September 1. Bringing a fresh perspective on refining the global member experience, Kheng is dedicated to building upon legacies set by past leadership, including Gagne’s impact. In her new role, she sees herself as a representative for all members of the global association and will concentrate on ensuring they have the resources that best meet their needs, while expanding previously established initiatives – including a continued focus on holding purposeful and engaging in-person meetings.

Under Kheng, MDRT will focus on tapping into its international network, allowing members to grow and learn at in-person events, promoting business growth and development. MDRT will continue to prioritize providing value to its global membership and pushing for increased connectivity and engagement.

“Since spearheading Prudential’s MDRT Club in 2005, I’ve witnessed the unparalleled growth members can gain through meaningful member interactions,” Kheng said. “During my presidency, MDRT will continue to hold spaces for members to network, engage with one another and learn unique, tailored techniques to propel their businesses further.”

With four Court of the Table and three Top of the Table qualifications, Kheng has served in multiple roles on the MDRT Executive Committee since 2022. She previously served as Divisional Vice President for Global Conference Program General Arrangements in 2019 and for MDRT’s Member Resources – Practice Management Division in 2009. Kheng also has served on the Board of Trustees of the MDRT Foundation, for which she is a Diamond Knight.

Hashtag: #MDRT

The issuer is solely responsible for the content of this announcement.

MDRT

MDRT (The Million Dollar Round Table), the Premier Association of Financial Professionals®, is a global, independent association of the world’s leading life insurance and financial services professionals from more than 700 companies in 80 nations and territories. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business. For more information, please visit mdrt.org.

Luxshare Precision Reports 2024 Interim Results and Q3 Earnings Forecast: Half-Year Revenue Exceeding RMB100 Billion

HONG KONG SAR – Media OutReach Newswire – 4 September 2024 – Luxshare Precision (002475.SZ) announced its 2024 interim results and 2024 Q3 forecast on August 23. In the first half of 2024, the company achieved a revenue of RMB103.60 billion, marking a year-on-year increase of 5.74%. Net profit attributable to ordinary shareholders of the company reached RMB5.40 billion, a significant rise of 23.89%, with basic earnings per share at RMB0.75, up by 22.95%. Luxshare Precision’s profitability improved steadily, with a gross margin of 11.71%, up 1.07% from the first half of 2023, and a slight increase in net profit margin to 5.56%.

Expanding Business Dimensions: Diversified Strategies Driving High-Quality Growth

Luxshare Precision ‘s strategic diversification in consumer electronics, automotive, and communication and data center sectors has fueled high-quality growth. In the first half of 2024, the company strengthened its consumer electronics business while also demonstrating robust growth in automotive, and communication and data center.

In its core consumer electronics segment, Luxshare Precision reported steady performance with a revenue of RMB85.55 billion, a year-on-year increase of 3.25%. The gross margin improved to 10.49%, up by 0.98% compared to 2023 1H. The company is expanding its client base and product development, actively participating in smartphone, smart wearable, and VR/AR glass supply chains of major clients including Apple, gaining significant recognition in acoustic products and smart devices.

According to market information, iPhone 16 models could be launched as early as September 10. Industry insiders believe that among Apple’s existing phones, only the iPhone 15 Pro series supports Apple’s AI, and the release of the iPhone 16 is expected to drive a wave of upgrades. As a key supplier in the iPhone supply chain, Luxshare Precision is likely to benefit from this upgrade cycle. Analyst Ming-Chi Kuo stated that Luxshare Precision has successfully secured the New Product Introduction (NPI) for the highest-end iPhone 16 model (Pro Max) for 2024, further increasing its value per unit.

According to the market research by Canalys, the global wearable brand market is projected to grow by 10% in 2024, with smartwatch shipments expected to increase by 17%. As demand for the Apple Watch rises, Luxshare Precision, as a major supplier, is poised to benefit from this trend. Since joining the AirPods supply chain in 2017, the company has significantly enhanced production efficiency and yield rates through smarter, automated processes, driving revenue growth. China International Capital Corporation (CICC) states that Luxshare Precision’s JDM, ODM, and OEM capabilities are key factors in its ongoing success in the expanding AI smartphone and wearable device markets.

In the VR/AR sector, Luxshare Precision has made strategic advances in both components and complete system assembly. In June 2024, Apple Vision Pro was officially launched in multiple regions around the world. As a major supplier, Luxshare Precision played a crucial role in the production and supply chain integration of the Vision Pro, which has further accelerated the company’s growth in the high-end smart device market.

In the automotive business, Luxshare Precision achieved revenues of RMB4.76 billion in the first half of 2024, representing a year-on-year increase of 48.3%. The company has developed a diverse product matrix covering automotive wiring harnesses, intelligent cabins, and intelligent driving, serving OEMs globally, which has driven growth in its automotive parts business. According to the research report by China Merchants Securities, Luxshare Precision’s expansion of clients and capacity in automotive wiring harness and connector is progressing well, with growth rates expected to exceed 50% in 2024. In addition, Luxshare Precision aims to become a Tier 1 leader in global automotive parts within the “three five-year” periods.

Ms. Wang Laichun (Grace Wang), Chairman of Luxshare Precision, said in a conference call after the release of the financial report that the communications business increased by 21.65% year-on-year in the first half of the year and the growth rate will continue to exceed expectations in the next 2-3 years. It is also worth mentioning that in June 2024, Intel invested in a subsidiary of Luxshare Precision, reaching a strategic partnership. Leveraging Intel’s technological advantages, Luxshare Precision can better serve global data centers and cloud providers, enhancing competitiveness in telecommunications and data centers.

Looking Ahead: Business Will Achieve Sustainable Growth
Driven by the recovery of the consumer electronics market, expansion in the communication and data center sector, and rapid development in the automotive business, Luxshare Precision is expected to maintain strong growth. The company projected a 20% to 25% increase in net profit attributable to ordinary shareholders of the company for the first three quarters of 2024. Over the past five years, revenue grew from RMB62.52 billion in 2019 to RMB231.91 billion in 2023, with net profit attributable rising from RMB4.71 billion to RMB10.95 billion, achieving compound annual growth rates (CAGR) of 38.78% and 23.46%, respectively.

In addition, Luxshare Precision has been included in the Fortune Global 500 list for two consecutive years, underscoring its global influence and market performance. This recognition not only affirms the company’s past achievements but also highlights the synergistic potential of its three major business sectors to drive sustainable development and create greater value in the future.
Hashtag: #LuxsharePrecision

The issuer is solely responsible for the content of this announcement.

Malaysian Ringgit in the Global Market: An Overview from Octa

Octa analysts explain why the Malaysian ringgit has strengthened substantially against the U.S. dollar and express their opinion on whether the trend can continue.


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 4 September 2024 – Over the past few months, the Malaysian ringgit (MYR) has appreciated by more than 9% against the U.S. Dollar (USD) from 4.770 in April to 4.345 today. Indeed, the decline in USDMYR seems to have accelerated lately, and the pair may now be targeting a major support area near 4.200. What is the reason behind such a massive appreciation? To answer this question, we need to look at the factors driving the country’s exchange rate.

Octa

Malaysia’s central bank, Bank Negara Malaysia (BNM), has adopted a flexible exchange rate regime for the ringgit, meaning that MYR’s exchange rate is determined primarily by the supply and demand for the currency. In turn, the supply and demand depend on a number of factors, both domestic and global. Below, we have listed the main factors impacting the country’s exchange rate, and we will describe each of them in relation to the Malaysian ringgit.

Domestic economy
Needless to say, a strong market economy is good for any currency. If gross domestic product (GDP) is expanding at a healthy rate, foreign direct investment (FDI) is likely to increase, driving the demand for the local currency higher. In addition, a booming economy is usually associated with increased consumer spending, which often spurs inflation. In turn, that may prompt the central bank to raise borrowing costs, which may potentially make the local currency more attractive vs its regional peers (at least in the short term).

Malaysia’s economy has been doing rather well lately. Thanks to strong household spending, exports, and investment, the country’s GDP expanded at an impressive 5.9% rate in Q2 2024, the fastest pace in 18 months. BNM is forecasting full-year growth near the upper end of its forecast range. In fact, Malaysia’s economy is likely to outperform its closest neighbours, including China, Singapore, Thailand, and Indonesia.

Current Account and Trade Balance
Current account is a country’s balance of payments. It records all the external economic transactions, the most important of which is international trade. If a country attracts solid capital inflows and exports more than imports, its current account would likely be in surplus. Conversely, a country would be running a current account deficit if more money is leaving the country either by means of imports or via direct capital flight.

According to the Department of Statistics of the Ministry of Economy, Malaysia has mostly enjoyed a positive current account balance (see the infographics below). The country remains a major foreign direct investment (FDI) destination, reaching RM9.1 billion in Q2. However, the balance of trade has been deteriorating lately. On an annual basis, imports have been growing faster than exports for almost a year now. As a result, Malaysia’s trade surplus has shrunk from around RM29 billion in June 2023 to just RM6.4 billion in July 2024 (see the chart below), which was below the RM12.3 billion that the market expected. Still, USDMYR has managed to appreciate against this ostensibly negative backdrop. And that is because two other factors played a much bigger role in driving USDMYR down.

Domestic monetary policy
BNM has been pursuing a cautious but prudent monetary policy. It hiked its base rate to 3.00% in May 2023 and has kept it steady ever since—even though the inflation rate has slowed to just 2.0%. Furthermore, Malaysia’s government and BNM have implemented coordinated measures to increase flows into the forex market to ensure the ringgit remains stable. Specifically, the authorities were working with state-linked companies to encourage them to repatriate and convert their foreign investment income more regularly. Their efforts also included stepping up engagements with international investors to minimise devaluation pressure on the ringgit. Their politics have certainly paid off.

U.S. monetary policy and market sentiment
Last but not least, as an emerging market currency, MYR is very sensitive to risk trends, changes in commodity prices, and the value of the U.S. Dollar, all of which are heavily influenced by the U.S. Federal Reserve’s (Fed) monetary policy. Over the past several months, investors have been getting more and more optimistic about the prospect of interest rate reductions in the U.S. As a result, the U.S. Dollar Index (DXY) has been trending lower, supporting both commodity prices and emerging markets’ currencies. The Malaysian ringgit has certainly benefited from this trend.

Outlook
“I believe Malaysian ringgit is poised for continuing appreciation, targeting the 4.250–4.200 level. BNM is worried that inflation may return if the government continues to pursue subsidy cuts, so it is likely to keep interest rates unchanged in the mid-term. At the same time, Jerome Powell has essentially confirmed that the U.S. central bank is embarking on a major rate-cutting cycle”, said Kar Yong Ang, Octa analyst. Meanwhile, looser monetary policy in the U.S. and other major economies may help prop up global demand and pull the prices for Malaysia’s key export items higher: specifically, on petroleum products, liquified natural gas (LNG), and palm oil. This, in turn, should improve the balance of trade and add to the current account surplus, supporting the Malaysian ringgit and pushing the USDMYR pair down.
Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.