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20260920 043000 UTC
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[00:00:00] grief, pain,
[00:00:01] of repression, hope and triumph, it is staying on the story till
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[00:00:09] tvc news, we
[00:00:10] are first with breaking news. it is not just a position, it
[00:00:14] is a
[00:00:15] of philosophy, a principle and a culture. tvc
[00:00:18] news, first with breaking
[00:00:20] news. at tv
[00:00:24] news, wherever the big news stories happening, we're get up
[00:00:28] to break it. This news first with breaking
[00:00:32] news.
[00:00:40] Well, thank you for staying tune. Nigeria's headline inflation has continued its downward
[00:00:44] trend is in slightly to 15.39% in August
[00:00:48] for 15.43% in July. The latest figure from the National
[00:00:51] Bureau of Statistics also shows that food and core inflation
[00:00:55] moderated pointing to a broader easing of price pressures. Food
[00:00:59] inflation. fell to
[00:01:01] in 19.57% year on year while its monthly rate dropped sharply to
[00:01:05] 1.02% from 5.56% in July,
[00:01:09] now core inflation also decline 13.29%
[00:01:13] showing that underline pressure uh price pressures are
[00:01:16] of gradually cooling. the figure comes as the economy heads into the final
[00:01:20] quarter of 2026 with inflation now recording its third
[00:01:23] consecutive month of moderation. improvement could uh
[00:01:27] provide a more stable environment for households. businesses and investors
[00:01:31] of as economic reforms continue to take its effect. now attention now
[00:01:34] turns to the central bank of nigeria's monetary policy committee meeting next
[00:01:38] week and what the latest inflation trend could mean for
[00:01:42] monetary policy. now with price pressures easing across several key
[00:01:46] measures. the Q4 outlook will also depend on
[00:01:49] food
[00:01:50] of prices, energy cost exchange rates conditions and overall economic
[00:01:54] activities. well
[00:01:56] my next guess is the founder and chief executive officer of carry assets
[00:02:00] management Limited, Mr. Johnson Chuku, he joins me virtually for this
[00:02:03] conversation. Thank you so much, uh, it's good to see
[00:02:06] of you today. Thank you, today for having me,
[00:02:10] good day. Yes, I think I will start with um, your
[00:02:14] your reading of Nigeria's um August 2026 inflation
[00:02:17] figure. What is your understanding and what extent does the latest
[00:02:21] number suggest that the country is making meaningful
[00:02:25] progress in containing
[00:02:26] inflation? We're talking. if you look
[00:02:30] at
[00:02:31] the inflation figures, it mirrors the stability we see in fx
[00:02:34] market and we
[00:02:35] in know that fx rate has
[00:02:37] of major impact on consumer
[00:02:40] prices, then you add another factor which was some level
[00:02:44] stability we saw in the price
[00:02:46] of of refined petroleum product, unfortunately that has reversed in the past
[00:02:50] couple of weeks, so if you consider the fact that we saw
[00:02:53] stable prices in pms which has wall
[00:02:57] of transmission into consumer prices. and then you have
[00:03:01] stability in exchange, we actually have had some level of appreciation in local
[00:03:05] currency exchange rate, so those factors and
[00:03:08] then you look at the food inflation, you talked about the food inflation about
[00:03:13] of of 19.5, i think
[00:03:15] of 57%, moderation from lower than what it was the
[00:03:18] previous the preceding months and if you consider that the
[00:03:23] of preceding august, mean august 2025 food
[00:03:27] inflation was in the region of 15 point 25.
[00:03:30] 3% so clearly we've seen
[00:03:33] improvement uh in the cor inflation with dropped
[00:03:37] about 13% we were driven by stable exchange rates
[00:03:41] and stable prices of petroleum products and
[00:03:44] then we saw moderation in food prices
[00:03:48] driven by the harvest season of course we've seen when the peak
[00:03:51] of the harvest season and we're at the point where you have
[00:03:54] virtually all food items produced locally
[00:03:57] moderate but unfortunately the major
[00:04:01] of moderation of in food prices came from imported food items which came about
[00:04:05] of 19% uh because locally produced food item inflation
[00:04:09] was about 21% for the same period
[00:04:12] so in effect we are seeing stability in exchange rates
[00:04:16] and stable f prices like i
[00:04:20] said earlier that may reverse have
[00:04:23] in direct impact on on on consumer prices
[00:04:27] across board indeed. I am
[00:04:30] particularly worried about energy uh prices, what
[00:04:34] is playing out uh in the middle east and of course how it's
[00:04:38] impacting on the
[00:04:38] of price that the pump, as at today now we are doing about
[00:04:41] 1,400 uh for liter
[00:04:45] of fiel which many say would impact the prices are moving forward now with
[00:04:49] food prices, energy cost and exchange rate movements just like you've
[00:04:53] mentioned still important drivers of household and business
[00:04:56] cost, what are the biggest risk that could cause? inflation to
[00:05:00] continue to accelerate in the final month of
[00:05:03] 2026, i think the greatest that
[00:05:06] we have to the current trend witness in inflation rate
[00:05:10] is energy cost, energy prices. uh the volatility in the
[00:05:14] middle east seem not to be bating uh today we are
[00:05:18] seeing some moderation in
[00:05:20] the group prices last week we saw group price go above almost
[00:05:24] 110 dollars per barrel
[00:05:28] and then we are not sure that the world has now
[00:05:32] resolved the issue in the uh middle middle east
[00:05:36] so clearly that becomes that remains the
[00:05:39] most uh pronounced risk.
[00:05:43] as it relates to inflation because if for instance you look at the
[00:05:47] price of petroleum product this month and you consider the fact at the
[00:05:50] pump prices are in the region of 1400
[00:05:53] 400 to 430 or 450 in some locations so
[00:05:57] the impact of that the transport cost is going to go up so the that
[00:06:01] category of transport uh with that
[00:06:05] category of consumer price index or
[00:06:09] the consumption by
[00:06:13] uh uh expenditure type will go up, it will have a direct
[00:06:17] impact on food prices because the food has to be transported from where they are
[00:06:20] produced to where they are consumed, so you find out
[00:06:24] that virtually every consumer
[00:06:27] expenditure head has draw some level of
[00:06:31] impact from price of petroleum product, so that's
[00:06:35] in key factor, the other key factor which i don't think is very
[00:06:39] pronounced is the issue of food prices as we move.
[00:06:42] towards the end the year, you're also going to move to fully into the planting
[00:06:46] season, and farmers, because we don't have capacity to
[00:06:49] preserve uh uh food locally, so
[00:06:53] you realize that lot of times uh food
[00:06:57] prices drop
[00:06:58] materially doing the harvest season because the farmers cannot preserve it and then
[00:07:02] once the we
[00:07:03] out move harvest season the farmers are even themselves struggle to buy food
[00:07:07] to feed themselves because they couldn't uh they couldn't preserve their
[00:07:11] produce so may also see an optic
[00:07:15] in food prices as we move towards the uh
[00:07:18] end the year, unless that is upset by
[00:07:22] import which we've seen balance the supply of food
[00:07:26] in the local economy in the past couple of months.
[00:07:30] let's take a step further, the dangote IPO which we talked about earlier this
[00:07:33] week, everyone is talking about it has become Africa's largest ever share offering
[00:07:37] targeting about 2.15 trillion now you fully subscribed, but my question
[00:07:41] to you really... is market issues now, what does the strong retail
[00:07:45] uh interest tell you about investor confidence and the debt of nigeria's
[00:07:49] capital market? i
[00:07:53] don't think it has to do with investor confidence and deta of nigerian capital
[00:07:56] market, of course yes, nigerian capital market because
[00:08:00] if you have a larger pool of investors it depens the market
[00:08:04] and it creates some level of stability so that the uh
[00:08:08] the what could impact that could lead to uh market
[00:08:11] reversal? reversals will be moderated
[00:08:15] because when you have like say
[00:08:17] they are talking about 10 million Nigerians as investors, it will take a long,
[00:08:21] major dislocation for you to have little investors panic
[00:08:25] out the market, so it gives the market some level of stability. in terms of
[00:08:29] investor confidence, what we've seen is that the investors have been so
[00:08:32] sensitized about the benefit the Dongotel
[00:08:36] refinary, and bear in mind that that refinary produce is so
[00:08:40] critical to the economy that like we discussing
[00:08:43] earlier, we say that the impact that the cost of fuel has
[00:08:47] a transmission effect on almost all the cost items
[00:08:50] consumption categories, so every nigerian
[00:08:54] virtually every nigerian know about the person who is producing the food they are consuming
[00:08:57] today and they ordinarily be
[00:09:01] sensitized on the benefit of
[00:09:04] investing, we've seen a lot of retail investors
[00:09:07] scrabble for investment struggled, mean we've seen the
[00:09:11] level of interest we've not seen in recent history uh past after
[00:09:14] the banking industry consolidation of 2006 2008
[00:09:18] uh so that is what has happened investors
[00:09:22] are
[00:09:23] the the product of that is something that is known to
[00:09:27] everybody the matter how your level of enlightenment so it's
[00:09:30] easier for people embrace investment
[00:09:34] in that ref that's
[00:09:35] what i say as relates to investor confidence it does not
[00:09:39] necessarily mean that investors are buying every stock of. we've seen market
[00:09:43] rallys about that those market rally we are driven largely by institutional
[00:09:47] investors, but what we are witnessing now is little
[00:09:50] investors scrambling for that finally uh
[00:09:53] offer finally on that beyond the
[00:09:57] capital raised by IPO, how significant could the refineries
[00:10:01] expansion be for Nigeria's foreign exchange position, field supply,
[00:10:05] government revenues and overall economic
[00:10:08] growth, well um
[00:10:11] until... refine econ stream uh
[00:10:15] share of nigeria's import that was accounted by
[00:10:19] refined about th to 23% depending on which period
[00:10:23] so uh if we effectively will eliminate uh that bear in
[00:10:26] mind that total import for the second quarter of this year was about 14 trillion,
[00:10:30] of course there
[00:10:31] is still some components uh of refined petroleum products,
[00:10:34] refined
[00:10:35] petroleum product was still PMS was still the largest component of that, if we
[00:10:39] eliminate that completely, it simply mean we're going to conserve about
[00:10:43] 20% of our import bill so that will flush into our reserve and
[00:10:47] that will flush into our exchange rate and that will have very
[00:10:50] salutary effect on inflation because once
[00:10:54] you shades then the value
[00:10:58] or price of imported items will all moderate, so the
[00:11:02] dangoter refinary expansion, we have material impact on
[00:11:05] our external external position, our balance of trade
[00:11:09] position, particularly if it is supported and
[00:11:12] emphasized, if it's supported by increase in crude production, i think the
[00:11:16] last figure about 1.6 million bar 1.67 million barriers a
[00:11:20] day, we need to go back whatever it takes, we need to produce
[00:11:24] enough crude. that we should be able to supply dangot a
[00:11:27] 100% of its crude
[00:11:31] demand or need and still export the same quantity we exporting or still meet
[00:11:34] our opaque export quarter that's the only way
[00:11:38] we can fully trap the benefit the dangoter refinally
[00:11:42] expansion if we don't expand crude local crude
[00:11:45] production it then means that part of that
[00:11:49] our uh what d is using to produce will be
[00:11:52] imported so you will see that whatever creod it impulse
[00:11:56] will to some extent reduce the value, the
[00:12:00] net position we would have gained in our balance of trade if all his crud
[00:12:04] input is derived locally
[00:12:07] or or supplied locally. now Nigeris,
[00:12:11] we are as we enter the final quarter of 2026, I like
[00:12:15] you to educate us and tell us, what should businesses, investors and
[00:12:19] households be watching most closely
[00:12:22] inflation uh thenira interest rate? all
[00:12:25] prices, there seems to be lot, consumer demand or
[00:12:29] government spending, and of course
[00:12:31] why? i think what
[00:12:35] nigerian businesses and nigerian house be watching is one, what happens in the
[00:12:39] middle east, it has a direct impact on their standard of living,
[00:12:43] because once food prices increase, it hurts almost all of
[00:12:46] us, that's one factor, but the biggest elephant in the room
[00:12:50] is the political climate,
[00:12:54] um, we need to maintain a self political climate because we are moving toward an election
[00:12:57] period when you talk about election presidential national presidential national assembly
[00:13:01] election on 16th of january that's almost just the end of this
[00:13:05] quarter this quarter the last quarter of this year so you realize that
[00:13:09] whatever uh political tension that
[00:13:12] will uh emanate from the
[00:13:16] upcoming uh national elections will already be
[00:13:20] here with us before the end of this year so if we have
[00:13:22] smooth uh "we have very corder
[00:13:26] campaign and election indicators are that is going to be free and
[00:13:30] fair, we are likely going to see some improve level
[00:13:34] of stability economy, and in terms of reserve, we know our reserve is very
[00:13:37] strong, so what that means that the central bank has a worchest
[00:13:41] to maintain ex stability in the next couple of
[00:13:45] months, about $54 billion dollars in reserve gives
[00:13:49] central bank the capacity to maintain exchange date, even if he has in
[00:13:52] market to maintain that, so that's not a..." threat to us,
[00:13:56] the great threat will come from external factors like
[00:13:59] like i mentioned earlier, increasing
[00:14:03] international price of crude that will have effects on our refined petroleum
[00:14:07] products that we import which will have a direct impact on inflation
[00:14:10] rate, i think that's the greatest two two things we need to
[00:14:14] watch
[00:14:14] out for, what happens in the middle east as it relates to crude
[00:14:18] prices and what happens in local political
[00:14:21] environment as to maintain social harmony.
[00:14:26] getting more more interesting, must say, the
[00:14:30] IMF also projects Nigeria's 2026 grow at about
[00:14:33] 4.1% and year end inflation at
[00:14:37] about 16, 17%. uh, they also
[00:14:41] warning the higher food and fuel prices uh remains risk.
[00:14:45] now what policy decisions in Q4 will be
[00:14:48] critical to balancing economic growth with the need to
[00:14:52] bring uh inflation down?
[00:14:56] "I think what the federal government can do is to focus on addressing the issue of
[00:15:00] insecurity in the major belts uh food food bes the
[00:15:04] country particularly northwest not east and not central
[00:15:07] um there is we need to have an
[00:15:11] environment where farmers can go back to the farm and plant uh
[00:15:15] and then produce that will that we
[00:15:19] not eliminate completely that will have a positive impact on
[00:15:23] inflation particularly for" inflation which is the
[00:15:26] biggest concern of most households, like i said you had food inflation
[00:15:30] about 19.57%,
[00:15:33] but inflation was just about 13%, mean you take out the
[00:15:36] vol um uh energy and food
[00:15:40] items, so assuming
[00:15:42] that we drive down
[00:15:43] food inflation to the region of 13%, that means we are going to see inflation
[00:15:46] rate moderate to something like 13% or maybe
[00:15:50] 12%. so i think that should be the focus the
[00:15:53] government uh that we have a chance
[00:15:57] of improving in security the security situation in the country
[00:16:00] and ensure that farmers can go to their firms and
[00:16:04] produce whatever uh they can. and
[00:16:08] the other things are much of longer because we're talking about what could happen the first
[00:16:12] quarter, the last quarter of this year, well
[00:16:16] indeed again, just came to my mind, I remember we we read fac
[00:16:20] yesterday on the news uh sharing 2.3 trillion
[00:16:23] a to states and of course federal states and local
[00:16:27] government, I think I just want to ask you your understanding what you
[00:16:31] make of this increase funding and are we getting uh
[00:16:34] enough of um how will I put service with regards? to these funds
[00:16:38] has been distributed to states and local governments, can they do
[00:16:41] better? well uh to they
[00:16:45] should be able to do better, if you even look at what they have received so far, i
[00:16:49] think with this 2.2 trillion
[00:16:53] the thes of government would have gotten over 20 trillion this year, because last time
[00:16:57] i say before this allocation it was about 18 trillion uh, that's
[00:17:01] almost about what they got the entire last year, last year was 22 trillion, so
[00:17:05] we've seen a material increase in allocation going to the
[00:17:07] three years of government, so what the challenge is, what are
[00:17:11] we really getting value for money? is few states we could say that they've
[00:17:15] been material improvement in this
[00:17:18] governance standards in terms of use of state resources for the public
[00:17:22] for public goods, but we can't say that applies to all the
[00:17:26] states on equal basis, so the key thing you and i will
[00:17:30] continue to agitate or push for is that the
[00:17:34] threats of government must show more prudence in management of public. ses
[00:17:37] and the we must get value for money for public expenditure that is
[00:17:41] incured by the government um in terms of revenue we've seen material improvement
[00:17:45] in revenue over 30% increase in
[00:17:49] revenue year on year that the th of government have gotten
[00:17:53] um but even what they got in august was reduction from what they got
[00:17:57] in july but at 2 point over two
[00:18:00] trillion that is sufficient for government to run its
[00:18:04] expenditure effectively of course revenue. can never
[00:18:08] be enough because government
[00:18:10] res uh government needs are
[00:18:13] inexhaustable, but kitten
[00:18:16] is
[00:18:25] it's a good way to leave it there, must thank you so much mr johnson chuku for your time on the
[00:18:29] show, founder ceo, career assets management limited, thank you so
[00:18:32] much, do have a great
[00:18:34] weekend? Thank you
[00:18:37] for having me. All right, then,
[00:18:41] well, it's a time to review trading activities at the Najan Exchange
[00:18:45] Limited, and my guest is our equities trader at roadstrom
[00:18:48] investments and securities Limited, Mr. Dili
[00:18:52] Sanusi. Good afternoon, Mr. Sanusi, it's good to have you, join the
[00:18:55] program.
[00:19:02] Good afternoon, Mr. Sanusi, are you there? Yes, good afternoon
[00:19:06] to you, can you? me loud and clear, how's it going? tell us what's
[00:19:10] playing out, how's trading going today, and let's look at the
[00:19:13] week, totally, let's review the week, uh,
[00:19:17] looking at the trading today, market has has
[00:19:21] done about 18 billion and
[00:19:24] done about 18 billion in
[00:19:28] value and in term of volume about
[00:19:30] 47 uh million
[00:19:34] and we can see the gainers are presently. we had about 76
[00:19:38] gainer against 24 loser, we have the
[00:19:42] first bank, first bank has gain about 8%,
[00:19:45] kaverton, well fixing
[00:19:49] icho, and for the loser side we have
[00:19:52] sovering investment, live stock,
[00:19:56] uh era lake ever capital and
[00:20:00] so on and so for, but looking at the market we can see
[00:20:04] that uh the the momentum is
[00:20:08] still is still low, though
[00:20:11] market is try to stabilize, the momentum is low and it's not far
[00:20:15] fresh uh, we don't have fresh fund, i need to tell we don't really have
[00:20:19] fresh fund in the market because everybody is
[00:20:22] running uh after the you know
[00:20:26] after the IPO and we believe that when the after the
[00:20:30] allocation I believe that the allocation should be
[00:20:32] oversubscribed and uh we are going to have some return money
[00:20:36] whereby we are going to have more money also finding their way back
[00:20:40] into the market till
[00:20:42] then i believe market we are still going to market going
[00:20:45] to be doing like this today back to you yeah yeah thank you so
[00:20:49] much the over subscription the IPO in your own
[00:20:53] understanding, what does it speak to our markets in in terms
[00:20:57] of investor confidence uh because we see lot of retail
[00:21:00] investors getting into this IPO?
[00:21:03] sorry, I didn't get it very well. I'm asking you about what this means for investor
[00:21:07] confidence in our capital market, this what? this
[00:21:11] link, what does this IPO's over
[00:21:14] subscription? what does it mean?
[00:21:17] thank you, yes, yes, you know, look, looking at the IP.
[00:21:20] ipo is, mean what has happened to nigeria market this
[00:21:23] year is really fantastic and we can see that is kind
[00:21:27] of answer to prayer and it's going to boost the you know look at
[00:21:31] our capital
[00:21:32] you know the the the capital b now is going to be very large
[00:21:35] and uh for the dangute himself the refinery
[00:21:39] you know coming to the market is a is huding is
[00:21:42] huge thing and investor you know
[00:21:46] the is a is kind of opportunity.
[00:21:50] even for the to the investor to the investor
[00:21:54] then also FBI, I believe that with this after
[00:21:57] listing is going to open open door for
[00:22:01] the market more and the confidence also that have been
[00:22:05] restored in the market because I want to tell you that you know the
[00:22:09] the the the confidence have been restored to our market and uh our market
[00:22:13] is institution that is most I mean I talk about the
[00:22:16] regulatory aspect is very strong and uh you
[00:22:20] know for people to come me that will not be anything like panic again and
[00:22:24] which i believe also we look at the bank capitalization
[00:22:27] everything is moving toward positive mean
[00:22:31] trajectory and i believe that he just for us to be
[00:22:34] patient it's just for us to be patient and we are going to see the com mean
[00:22:38] materializing at the long run back to what do you
[00:22:42] think how do you think the market will wrap this year up considering all of this
[00:22:46] positives that we've seen yes
[00:22:49] as i've said before you look at you know the market have been
[00:22:51] someers you know have been
[00:22:55] moving up and down but I believe as I've said before I believe
[00:22:59] that this IPO should be oversubscribed because if you look at the
[00:23:03] private placement about 2.1 trillion
[00:23:06] and you look at
[00:23:08] uh uh the IPO also so I believe
[00:23:12] that when they have when we have over over
[00:23:15] subscription for this IPU you know return money from
[00:23:19] the ipo, danguti IPO is going to flow back or find
[00:23:23] their way back into the market and I believe that before the end
[00:23:27] the year, our market we we see need
[00:23:31] to what to move an upward, I mean direction
[00:23:35] before the end the year. Thank you so much for your time on the show, we really do
[00:23:39] appreciate this, thank you. All right,
[00:23:43] before we go, let's tell you Uganda Central Bank has raised the cash reserve requirements for
[00:23:46] commercial banks to 13.5% from 11. percent as
[00:23:50] the local shillings comes under renewed pressure against the United States dollar. The
[00:23:54] Bank of Uganda says the new requirements will take effect on September
[00:23:58] 24th, the move means commercial banks will be required to hold the
[00:24:02] larger share the deposits as reserves tightening
[00:24:06] liquidity within the banking system. The central bank says the adjustment
[00:24:09] aims at strengthening liquidity management, improving the effectiveness of
[00:24:13] monetary policy transmission and it prevailing economic and
[00:24:17] financial conditions. The shillings had wicked. recent weeks as
[00:24:21] demand for dollars increased, particularly from manufacturers and energy
[00:24:24] sector, businesses facing higher imports and fuel cost. bank of
[00:24:28] Uganda's executive director for policy and and research,
[00:24:32] Adams Mugume says the central bank does not plan to
[00:24:36] interven directly uh through dollar sales to support the
[00:24:39] currency. Mugume described such intervention as a
[00:24:43] potential policy inconsistency, suggesting the bank will
[00:24:47] instead rely on monetary and liquidity man. tools
[00:24:50] to respond to
[00:24:51] pressures.
[00:24:56] Meanwhile, the Bank of Japan has raised its benchmark interest rate to
[00:24:59] 1.25%, its highest level in 31 years as the central bank
[00:25:03] steps up efforts to prevent inflation from overshooting its
[00:25:07] 2% target. The decision taken at the end of two-day policy
[00:25:11] meeting lifted the rate from 1% a 7-2
[00:25:15] vote. Board members are tochiro, Asada and
[00:25:18] Ayanosatu vote. against the increase. now the
[00:25:22] latest hike marks another step away from Japan's decade of
[00:25:26] ultra losing monetary policy uh that and brings borrowing costts
[00:25:30] closer to what the BOJ considers a neutral level for the
[00:25:34] economy. governor kuzo Uda says the bank policy has
[00:25:38] shifted as underlining inflation approaches the 2%
[00:25:41] target. the Boj is also monitoring the impact of higher energy
[00:25:45] costts, a weaker yearn increase demand linked to investment and artificial
[00:25:49] intelligence. you that says the bank would a just policy if
[00:25:53] there is risk of inflation significantly above targets
[00:25:56] and the Japanese economy now
[00:25:59] to Malaysia. exports
[00:26:03] rose 31.2% year on year to 1.36 trillion
[00:26:06] ringit in the first eight months of 2026, putting the country on
[00:26:10] track for another record uh year in trade. now
[00:26:14] the strong performance uh was driven by increase
[00:26:18] shipment of electrical and electronic products alongside stronger export of
[00:26:22] petroleum products, liquid natural gas and other commodities. official
[00:26:26] data shows total trade climb 27% to 2.5 trillion
[00:26:30] ring it. we all imports increased. 22.4% to
[00:26:34] 1.16 trillion, the trade surplus doubled year
[00:26:38] on-year to 198.6 billion ring it, with January to
[00:26:41] August figure already exceeding Malaysia's full year surplus in both
[00:26:45] 2024 and 2025. In August aloan total trade
[00:26:49] jumped 43.4% to 354.01 billion
[00:26:53] ringet with export rising 45.5 to
[00:26:56] 191.05 billion ring. imports also increased
[00:26:59] 41.1% to 162.9 6 billion ring it
[00:27:03] resulting a monthly trade surpluss of 28.09
[00:27:07] billion ring it. Malaysia's investments, trade and industry
[00:27:10] ministry says it will continue expanding market access, strengthening
[00:27:14] industries and support exporters to capture opportunities in
[00:27:18] global