Malaysia Morning News For August 10

Malaysia Morning News For August 10
Estimated Reading Time: 5 minutes |

Malaysia morning newsHard-pedalling soft power, China helps launch $13b Belt and Road rail project in Malaysia
China and Malaysia broke ground on Wednesday (Aug 9) on a $13 billion rail project linking peninsular Malaysia’s east and west, the largest such project in the country and a major part of Beijing’s Belt and Road infrastructure push.
Channel NewsAsia 

Upcoming hub brings in RM4 bln to Sarawak
Sarawak company KHK Development Sdn Bhd (KHK) and Tianjin Government state-owned Tianbei Heping Development Pte Ltd (Tianbei Heping) yesterday signed an agreement to form a joint venture (JV) company to undertake the development of a new healthcare hub; Kuching Integrated International Medical Centre (KIMhub).
The Borneo Post 

Malaysian forex reserves set to hit US$100 bln mark
Malaysia’s foreign exchange (forex) reserves are poised to hit the US$100 billion mark as forex reserves rose by US$500 million to US$99.4 billion in July.
The Borneo Post 

Reach Energy aborts plan for private placement
Reach Energy Bhd has decided to scrap a proposed private placement to raise up to RM180mil in view of “the prevailing market conditions.”
The Star Online 

Malaysia, Singapore ties have grown stronger – Salleh
Relations between Malaysia and Singapore have grown stronger over the 52 years following the republic’s independence on Aug 9, 1965, said Communications and Multimedia Minister Datuk Seri Dr Salleh Said Keruak.
Astro Awani 

Ministry encourages more firms to obtain timber certification
The Ministry of Plantation Industries and Commodities is encouraging more Malaysian companies to obtain timber certification to ensure all timber products are manufactured from sustainable sources and certified in compliance with stringent standards.
The Borneo Post 

Malaysia’s Petronas scouting for stake in LNG terminals in India
Malaysia’s state-run petroleum company Petroliam Nasional Bhd (Petronas) is scouting for a stake in India’s liquified natural gas (LNG) terminals, group chief executive officer Datuk Wan Zulkiflee Wan Ariffin said.
DealStreetAsia 

United States expected to become a net exporter of natural gas this year, says EIA
The United States will export more natural gas than it imports in 2017, according to the U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook projection.
The Edge Markets 

Renewed buying interest emerged in Southern Steel, says AllianceDBS Research
AllianceDBS Research said Southern Steel Bhd (SSteel) had on Aug 9 crossed over the RM1.80 hurdle to settle at the highest high of RM1.84 since 19 Jul 2013 (up 13 sen or 7.60%).
The Edge Markets 

EPF has no plan to sell stake in PLUS Malaysia
The Employees Provident Fund (EPF), has no plan to dispose of its 49 per cent stake in highway operator, PLUS Malaysia Bhd, as the investment in the company was reaping good returns for the pension fund.
The Borneo Post 

Women account for 17.9% of PLC boards: Minister
Women account for 17.9% of the boards of directors in the top 100 public-listed companies (PLC) on Bursa Malaysia as of June 30 this year.
The Sun Daily 

HSS Engineers bags one of the first East Coast Rail Link jobs
HSS Engineers Bhd’s (HEB) associate company HSS Integrated Sdn Bhd has been awarded a RM16.5 million job to provide preliminary design consultancy services for infrastructure works for the East Coast Rail Link (ECRL) by China Communications Construction Company (M) Sdn Bhd.
The Sun Daily 

Affin Hwang Research cautious on MISC earnings outlook
Affin hwang Capital Research remains cautious on MISC’s earnings in the coming quarters due to lower charter rates on the back of oversupply of tonnage for the petroleum and liquified natural gas (LNG) segments as well as lower order book for the heavy engineering segment.
The Star Online

ManagePay to procure MVNO licence from MCMC
ManagePay Systems Bhd (MPay) plans to procure mobile virtue network operator (MVNO) licence from the Malaysian Communications and Multimedia Commission (MCMC).
The Sun Daily 

TRX north side take-up rate hits 80%
The Tun Razak Exchange (TRX), an iconic 28.3-hectare (ha) development in the heart of Kuala Lumpur, has seen 80% of the land on its north side being commercialised, or under negotiations.
The Star Online 

Minetech unit bags RM35.2mil MRT2 job
Minetech Resources Bhd’s (MRB) wholly-owned unit, Minetech Construction Sdn Bhd, has bagged a RM35.2mil construction work sub-contract from MMC Gamuda KVMRT (UGW) Joint Venture.
The Star Online 

Safety barriers reducing accidents by 90%
The safety rolling barrier system has succeeded in reducing accidents at a stretch of road by over 90%.
The Star Online 

Malaysia Remains Regional Hub Of Choice For F&B Companies – Nogeh
Malaysia has remained the choice city for food and beverage (F&B) companies in the area of regional resource management, said Deputy Agriculture and Agro-Based Industry Minister, Datuk Nogeh Gumbek.
Malaysian Digest 

Marriage amendment Bill passed despite heated debate on unilateral child conversion clause
The Law Reform (Marriage and Divorce) (Amendment) Bill (LRA) 2017 was passed in the Dewan Rakyat this morning despite calls to reinstate a clause which would have barred unilateral child conversion.
The Malay Mail Online 

Telekom Malaysia, ManagePay, MISC, Scientex, Straits Inter Logistics, BHIC, Minetech, Cepatwawasan and Reach Energy
Based on corporate announcements and news flow today, stocks in focus tomorrow (Aug 10) may include the following: Telekom Malaysia, ManagePay, MISC, Scientex, Straits Inter Logistics, BHIC, Minetech, Cepatwawasan and Reach Energy.
The Edge Markets 

 

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 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.

 

 

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Leakhena Khat

Leakhena Khat

Junior Journalist at AEC News Today
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 set.

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