Malaysia Morning News For August 1

Malaysia-Singapore will sign agreement on RTS link in December
Malaysia and Singapore will sign a bilateral agreement on the development of the Johor Bahru-Singapore Rapid Transit System (RTS) Link, this December.
— Astro Awani

Factory activity shrinks in Indonesia, Malaysia in July, expands in Vietnam – PMIs
Factory output contracted again in Indonesia and Malaysia in July, while that in Vietnam expanded again, though at a slower pace than in the previous month,according to IHS Markit purchasing managers’ indexes released on Tuesday.
— Nasdaq / Reuters

Malaysia To Send 6 MPs To Europe To Seek Support For Palm Oil
Malaysia is sending six lawmakers to Europe in September to meet and seek support from Members of the European Parliament in relation to palm oil.
— Malaysian Digest

China Wants This Malaysian Port to Rival Singapore (And That’s Not All)
A story blended from Malaysian history and folklore says an emperor sent a princess called Hang Li Po to marry the Sultan of Malacca in the Ming Dynasty, offering a ship filled with gold needles. He also sent a blunt message. “For every gold needle, there is a subject. If you can count the number of needles, you will learn the true extent of my power,” the emperor reportedly said in a letter.
— Bloomberg

Federal govt incurs RM38.4 billion deficit in 2016
The federal government incurred a deficit of RM38.4 billion with the ratio to the Gross Domestic Product (GDP) at 3.12 per cent.
— The Borneo Post

Inefficient system to standardise prices of controlled goods in rural S’wak areas — AG Report
A lack of monitoring and enforcement is the cause behind the unsatisfactory performance in the distribution of controlled goods to rural and remote areas in Sarawak.
— The Borneo Post

Malaysian builder BGMC to list on Hong Kong exchange
Malaysia-based construction services company, BGMC International Ltd (BGMC) is set to list on the Main Board of the Hong Kong Stock Exchange (HKSE) on Aug 9.
— The Edge Markets

Malaysia contractor opens retail book
Malaysia-based construction service firm BMGC International opened its retail book yesterday ahead of a planned listing on the local bourse.
— The Standard

Producer Price Index suggests business cost has eased, says AmBank Research
AmBank Research expects the Malaysian Producer Price Index (PPI) to continue rising at a moderate pace after the PPI grew at single digit for the fourth straight month.
— The Edge Markets

Maxwell International unit faces 14 cases in China, may cost group RM173m
Maxwell International Holdings Bhd said that its subsidiary Jinjiang Zhenxing Shoes & Plastics Co Ltd (JZSP) may be facing 14 litigation cases in China, which may cost the group 272.18 million renminbi (RM173.18 million).
— The Edge Markets

Auditor qualifies Iris’ FY17 accounts on lack of info on subsidiaries
Iris Corp Bhd’s external auditor Messrs Baker Tilly Monteiro Heng has expressed a qualified opinion on the company’s financial statements for the financial year ended March 31, 2017 (FY17) on lack of information on subsidiaries.
— The Sun Daily

KLCI to remain below 1,770 level, sentiment to stay tepid
The FBM KLCI is expected to remain lacklustre today and stay below the 1,770-point level, as sentiment at the local bourse remains tepid.
— The Edge Markets

Lotte Chemical shares sink 24pct after Q2 earnings slide
Lotte Chemical Titan Holding Bhd share price skidded to a low of RM4.65 on Monday after it posted a weaker set of earnings in the second quarter ended June 30, 2017.
— The Star Online

Astro to grow revenue to RM8.8b in FY22
Astro Malaysia to grow its revenue from RM5.6bn in FY1/17 to RM8.8bn in FY22, driven by stronger adex and new growth initiatives such as Go Shop, Tribe, licensing income and other ancillary income.
— The Star Online

Malaysia to sign FTAS with HK, Iran by year-end
Malaysia is expected to sign free trade agreements (FTAs) with Hong Kong and Iran by year-end, said International Trade and Industry Minister, Datuk Seri Ong Ka Chuan.
— The Borneo Post

Palm Oil Vitamin E Exports Set To Surge With Discovery Of Major Health Benefits
Malaysia’s annual US$70 million palm oil vitamin E exports to the global pharmaceutical industry are set to expand, as medical studies show that it lowers bad cholesterol levels, kills cancer cells and protects our brain against the debilitating effects of a stroke.
— Malaysian Digest

Fernandes: New Airports Operators Needed
AirAsia Bhd group chief executive officer Tan Sri Tony Fernandes has taken to his social media page on Facebook to call for more competition in the LCCT airports operating scene in the country.
— Malaysian Digest

No plans to reopen investigations on 1MDB: National Audit Dept
The National Audit Department has no plans to reopen its investigations on 1Malaysia Development Berhad (1MDB).
— The Sun Daily

Study: Ahead of GE14, most youths still fence sitters
Over half of Malaysian youths polled in a recent survey were undecided on which party — if any — they trust to run the country.
— The Malay Mail Online

Malaysia’s SC bans two for life in first such action
Securities Commission Malaysia (SC) rapped China-based sports equipment company, Telent Outdoor (Hong Kong) Technology Co Ltd (Telent), for breaching the listing regulations.
— The Star Online

Too early to say threat of rabies has eased
Agriculture and Agro-based Industry Minister Datuk Seri Ahmad Shabery Cheek said it was still too early to declare rabies or mad dogs threat in Sarawak has eased.
— The Sun Daily

Feature photo tomscoffin
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 by AEC News Today is your one stop source for Malaysia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

Malaysia Morning News For August 1 added by Leakhena Khat on August 1, 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.