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Malaysia Chemicals Report 2009Published by: Business Monitor International Published: Jul. 13, 2009 - 38 Pages Table of Contents
AbstractMarket OverviewThe chemicals industry is one of Malaysia’s key industries, catering not only for its own nationalrequirements but also exporting to a number of countries worldwide. The Malaysian chemicals andchemical products industry has become the second largest contributor to the manufactured exports sector,after the electrical and electronics industry. Vast petroleum and palm oil resources have enabled Malaysiato establish itself at the forefront of chemicals export. In 2008, MYR64,808mn (US$18,021mn) worth ofpalm oil and palm oil based products were exported from Malaysia, according to the Department ofStatistics Malaysia. Meanwhile, MYR43,698mn (US$12,156mn) worth of crude petroleum andMYR28,635mn (US$7,962mn) worth of other petroleum based products were exported, forming a largepart of Malaysia’s MYR663,494mn (US$184,446mn) export total for 2008. Projects And Expansions In March 2009, Malaysia Chemicals major CCM launched a MYR10mn (US$2.8mn) hi-tech R&Dfacility, called Innovax. The new centre will be used to help the manufacture and development of newpharmaceuticals products. Meanwhile, in May 2008, CCM entered into a strategic supply deal withJordan-based The Arab Potash Company. CCM is looking to guarantee its supply potassium chloride andtherefore help the smooth operation of its fertilisers division. Trade Agreements In December 2008, Malaysia’s minister of international trade and industry bought the Association ofSoutheast Asian Nations (ASEAN) region closer to its goal of forming an integrated economiccommunity after signing three agreements with Singapore. Meanwhile, in February 2009, both Japan and Malaysia introduced the ASEAN-Japan ComprehensivePartnership Agreement (AJCEP). The AJCEP is based on bilateral economic partnership agreementsbetween Japan and individual ASEAN nations and is the third major regional agreement implemented inEast Asia. The first was the China-ASEAN FTA, which was introduced in 2005, while in 2007 the Korea-ASEAN FTA was agreed. Industry Forecast The Malaysian chemicals industry witnessed 37% growth in domestic sales value in 2004 and sustainedsolid growth up until mid-2008. It expanded rapidly and had been forecast to reach sales figures ofMYR60816mn by 2009. However, BMI has now revised our forecast downwards, as recent events havehalted this rapid expansion, and we expect chemical sales to contract in 2009 before recovering, alongsidethe economy, in 2010. The output for petroleum, chemical, rubber and plastic products fell by 17.1%year-on-year in January 2009. Production of rubber and plastic products shrank 27.1%, while chemicalsand chemical products were the worst hit with output shrinking by 29.9% y-o-y. Get Full Details About This Report >> |
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