Malaysia factory output up 6.1% in July
KUALA LUMPUR • Malaysia's industrial production in July expanded at its fastest pace in eight months, government data showed yesterday, boosted by gains in all three major sectors.
Factory output grew 6.1 per cent from a year earlier in July, the fastest since last November. Industrial output was up 4 per cent in June.
July's factory output was due to strength in the manufacturing, electricity and mining sectors, according to data from the Statistics Department.
Manufacturing output grew 8 per cent from a year earlier in July, boosted by growth in the food, tobacco, and electrical and electronic products sub-sectors, the data showed. The electricity generation sector rose 7.9 per cent year on year, while mining output grew 0.2 per cent.
Tokyo to raise $16b in Japan Post listing
TOKYO • Japan said yesterday it would sell off another chunk of the country's massive postal service in a share listing expected to raise about US$12 billion (S$16.1 billion).
Tokyo is unloading up to 990 million shares in Japan Post, or about 22 per cent of its outstanding shares, after an initial public offering (IPO) in 2015 that began a long-delayed privatisation of the state-owned behemoth.
The latest sale could raise 1.3 trillion yen (S$16.1 billion) based on yesterday's closing price of 1,321 yen. The selling price will be decided between Sept 25 and 27, the Finance Ministry said.
Some 1.43 trillion yen was raised in an IPO nearly two years ago that included shares in Japan Post's banking and insurance units.