Topic “Malaysia” — Exporter Magazine

Petroliam Nasional Bhd-controlled shipping liner MISC Bhd is discontinuing its container shipping business that has lost US$789 million (RM2.52 billion) the past three years to better focus on serving clients in the energy sector, according to the Edge financial daily. Meanwhile struggling Chilean container line CSAV is also looking for a buyer for its container business. China for the first time allowed the yuan to trade against the Malaysian ringgit on the domestic market last Thursday in a move signalling China’s intention to progressively turn the yuan into a major global currency, according to a Wall Street Journal online report.