Malaysia Morning News For June 29

Alibaba spending US$1bil in Southeast Asia’s Lazada, including Malaysia
Chinese e-commerce company Alibaba Group Holding is investing an additional $1 billion in Southeast Asian online retailer Lazada Group, boosting its stake by nearly a third to 83 percent and amplifying its focus on the region. Lazada, founded in 2012, is headquartered in Singapore and also operates in Malaysia, Indonesia, the Philippines, Thailand and Vietnam.
— The Star Online

NEM Foundation Opens First Blockchain Center in Malaysia
The NEM Foundation, creators of the NEM blockchain platform whose native cryptocurrency (XEM) is the sixth most valuable blockchain token in the world with a $1.5 billion market cap, today announced a strategic alliance with Australia’s Blockchain Global to expand NEM’s global reach.
— Finance Magnates

Malaysia Halal Council to launch framework by year-end
The Malaysia Halal Council expects to launch its framework, focusing on empowering local halal companies, making them visible globally and increasing the participation of Bumiputera entrepreneurs by year-end.
— The Borneo Post

Non-performing loans to rise — S&P
Malaysian banks may see an uptick in non-performing loan (NPL) ratio as Bank Negara Malaysia (BNM) is expected to raise its overnight policy rate (OPR) twice by end-2018.
— The Edge Markets

MAPS – Asia’s first animation theme park opens in Malaysia
The RM520 million ($120m/€105m) project from Sanderson-backed Animation Theme Park Sdn Bhd is billed as the first animation-centred theme park in Asia. Spread across a 21 hectare site in Bandar Meru Raya (Ipoh, Perak), it features more than 40 attractions in six themed zones. From BoboiBoy to The Smurfs, the park features both local and internationally-known characters.
— Blooloop

China vehicle manufacturer eyeing East Malaysian market
DALI PREFECTURE, Yunnan Province, China: Dali-based commercial vehicle manufacturer, Yunnan Lifan Junma Vehicles Co. Ltd is planning to expand its existing market in Malaysia, said its group chief executive officer He Zhanfei.
— The Borneo Post

Conclude regional agreement to protect foreign workers, says Malaysian Bar
The welfare of foreign employees can be enhanced if the 10-member Association of Southeast Asian Nations (Asean) formalises a decade-old declaration to protect and promote the rights of migrant workers, says the Malaysian Bar.
— Free Malaysia Today

AffinHwang Capital expects better 2H17 for oil and gas sector
AffinHwang Capital Research has maintained its “Neutral” rating on the oil and gas (O&G) sector and said sector earnings momentum for the recently concluded 1QCY17 result season has been positive.
— The Edge Markets

Armada Kraken’s first oil a key re-rating catalyst
The first oil discovery from the Kraken Development is projected by analysts to be a key re-rating catalyst to Bumi Armada Bhd’s (Bumi Armada) share price.
— The Borneo Post

Najib: Malaysia committed to stopping human trafficking
Prime Minister Datuk Seri Najib Tun Razak (pix) has reiterated Malaysia’s commitment to stop human trafficking.
— The Star Online

No reports of ransomware attack in Malaysia
No cases have been reported in Malaysia so far, following the cyber attack on computer systems particularly in Europe.
— The Malay Mail Online

Malaysia shrugs off 1MDB scandal to become second-quarter star
Malaysian assets are back in favor as investors focus on encouraging signs of an economic turnaround instead of a scandal that has touched the top of government and as far as Hollywood.
— Free Malaysia Today

A special task force set up to probe piracy of Thai oil tanker in Malaysian waters
The Malaysian Maritime Enforcement Agency (MMEA) has formed a special task force to probe last Friday’s attack of a Thai oil tanker by pirates in waters off Kuantan, according to a report in New Straits Times Online on Tuesday.
— Thai PBS

Use electron microscopes to check planes, says aviation expert
An aviation expert has advised AirAsia to be “microscopic” in its inspections to avoid incidents like the one involving its Kuala Lumpur bound Airbus A330 which was forced to return to Perth after experiencing engine problems.
— Free Malaysia Today

Sunsuria Builders Inks Partnership With China’s Citic To Expand Construction Business
Sunsuria Bhd’s wholly owned subsidiary Sunsuria Builders Sdn Bhd (SBSB) has inked a partnership with China’s Citicc International Investment Ltd (Citic), a wholly owned subsidiary of Citic Construction Cot Ltd, in a bid to expand its business and financial growth.
— Malaysian Digest

Magni-Tech Industries Revenue Up 34.12pct To RM1.14bil
Magni-Tech Industries Bhd’s revenue rose by 34.12 per cent to RM1.14 billion in the financial year, ended April 30, 2017 (FY17), compared to RM0.85 billion recorded in the same period a year ago.
— Malaysian Digest

School Syllabus May Soon Include Palm Oil Chapters
The government may introduce palm oil chapters in the secondary school syllabus as part of initiatives to raise better awareness on commodities as well as to build up a more relevant talent pool for Malaysia’s economy.
— Malaysian Digest

Malaysian Analysts Upbeat About Geely-Proton Deal
Malaysian analysts have given positive feedback on the partnership between China’s Zhejiang Geely Holding Group and Malaysia’s car maker Proton as it paves way for Geely to expand into the Association of Southeast Asian Nations (ASEAN) market, reports China’s Xinhua news agency.
— Malaysian Digest

Muted impact on Maxis
There could be some impact on Maxis Bhd’s revenue as a result of U Mobile Sdn Bhd’s termination of a network sharing agreement with the former related to the 3G radio access network (RAN), but more information will be needed before the full impact can be analysed.
— The Star Online

Entrepreneurs urged to use ICT in promotion
The state government will promote e-commerce to local entrepreneurs to encourage them to use information and communications technology (ICT) to promote their products.
— The Borneo Post

100 AES cameras to be installed nationwide next year
About 100 Automated Enforcement System (AES) cameras will be installed at strategic locations nationwide, next year.
— The Borneo Post

Feature photo John Walker
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Malaysia morning news is published M-F by AEC News Today: Governance, not government; policies not politics.

Malaysia Morning News For June 29 added by Leakhena Khat on June 29, 2017
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.