Malaysia Morning News For June 5

M’sia labour productivity growth unsatisfactory
While Malaysia’s labour productivity growth of 3.5% for 2016 was an improvement compared with 3.4% in the previous year, the performance was considered unsatisfactory as the country is still lagging behind the productivity levels of countries, such as Singapore and South Korea.
— The Edge Markets

RM20 million for Bumiputera youth entrepreneurs
The government has allocated RM20 million this year to implement a mega Bumiputera Youth Entrepreneurship (TUBE) programme, specifically to help youths who are still unemployed and keen to become entrepreneurs.
— Free Malaysia Today

Construction of TNB’s large scale solar project to start next month
Tenaga Nasional Berhad (TNB) is scheduled to commence construction of its first Large Scale Solar (LSS) project in Malaysia next month.
— New Straits Times

HIL Industries up 2.50% on bonus issue plan
Shares of property developer HIL Industries Bhd rose 2.50% this morning after it proposed a bonus issue with free detachable warrants.
— The Edge Markets

MAS close to deal for more used widebody aircraft
Malaysia Airlines is close to signing deals for six or seven second-hand widebody A330 planes to be added to its fleet this year as it seeks to grow on international routes based on good demand for summer bookings, its chief executive said yesterday.
— Free Malaysia Today

Trading ideas: MISC, Stone Master, HIL, AMMB, RHB Bank
MISC, Stone Master, HIL and Wintoni are among the stocks to watch on Monday after their corporate announcements last Friday, says JF Apex Research.
— The Star Online

Leon Fuat may climb higher, says RHB Retail Research
RHB Retail Research said Leon Fuat Bhd may climb higher after posting a white candle and leaving an upside gap.
— The Edge Markets

AffinHwang Capital raises end-2017 KLCI target to 1,813
AffinHwang Capital Research said it believes the Malaysian stock market is still in its early-stage rally.
— The Edge Markets

Axiata’s earnings in the next few quarters to remain depressed, says CIMB IB Research
CIMB IB Research has a “Hold” rating on Axiata Group Bhd at RM4.85 with a target price of RM5.30 and said it expects Axiata’s earnings in the next few quarters to remain depressed due to: a) consolidation of Airtel’s losses; b) losses at Idea; and c) no major recovery at XL/Celcom until 2H17F/end- FY17F.
— The Edge Markets

Smugglers dump 629kg of drugs by mistake
MMEA northern region director says smugglers dumped large plastic packages of dried ganja worth RM1.8 million into sea after mistaking fishermen for enforcement officers.
— Free Malaysia Today

Thousands may lose jobs in RHB-AmBank merger
Two economists have warned that the impending merger of RHB Bank Berhad and AMMB Holdings Berhad (AmBank) could see thousands losing their jobs and unable to gain new employment.
— Free Malaysia Today

Khairy: One of the top TN50 aspirations is a bigger job market
The youth and sports minister who has been put in charge of the Transformasi Nasional 2050 (TN50) initiative said young Malaysians especially would like to see a bigger job market where they are not displaced by technology in the future.
— The Malay Mail Online

Malaysia, other SE Asian countries push aside Trump doubts to combat terror threat
As global defence chiefs debated what ”America First” and China’s rise meant for Asia’s future, regional officials focused on a more immediate concern: terrorism.
— The Malay Mail Online

Sedania to expend with As-Sidq acquisition
Technology empowerment company Sedania Innovator Bhd is set to create a five-pronged business model with its acquisition of an established syariah-compliant financial technology (fintech) platform, As-Sidq.
— New Straits Times

Bilateral trade continues to grow
MALAYSIA looks forward to increasing trade with Kazakhstan, its second-largest trading partner in the Commonwealth of Independent States (CIS).
— New Straits Times

Net foreign buying on Bursa crosses key RM10b
Cumulative foreign net purchases year-to-date crossed the key RM10bil to reach RM10.14bil as the foreign buying streak has now stretched to 17 straight weeks, says MIDF Research.
— The Star Online

KL shares higher in early trade
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened higher this morning in tandem with the upbeat Friday’s performance on Wall Street.
— The Sun Daily

Feature photo Naim Fadil
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 5 added by Leakhena Khat on June 5, 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.