Malaysia Morning News For August 16

Malaysia Morning News For August 16

Malaysia morning newsThird 2017 BR1M payment starts today
The third and final phase of the 2017 1Malaysia People’s Aid (BR1M) payment will be made from today in conjunction with Hari Raya Aidiladha celebration, which falls on Sept 1.
— The Sun daily

Malaysia recorded RM15.2 million in losses due to illegal logging
llegal logging activities in Peninsular Malaysia between 2006 to 2016 led to losses totaling RM15.2 million.
— New Straits Times

Malaysia second-quarter GDP growth seen slowing on weaker private consumption: Reuters poll
Malaysia’s economic growth is expected to have slowed slightly in the second quarter as weaker private consumption partly offset a boost from resilient manufacturing and trade, a Reuters poll showed.
— Reuters

OIA Global Launches New Office Supporting Malaysia’s Growth
OIA Global, a leading logistics, packaging and material sourcing provider, announced its Southeast Asia expansion with the opening of its first company-owned office in Kuala Lumpur, Malaysia. OIA’s decision to open the office, is driven by customer growth, and the continued growth of the Malaysian economy.
— Business Insider

Education ministry wants quality, world-class English teachers
The education ministry wants English Teachers nationwide to master the language and reach a C2 level in the Common European Framework of Reference (CEFR).
— The Sun Daily

Pos Malaysia to maintain net cash status
Maintain underperform with an unchanged target price of RM4: Pos Malaysia Bhd has signed a memorandum of agreement with Ratu Shipping Co SA for the acquisition of a second-hand Kamsarmax bulk carrier vessel, namely Golden Trader 1, and Trans Nanjing Shipping Ltd for the acquisition of a second-hand Post-Panamax bulk carrier vessel, namely Trans Nanjing, for a total purchase consideration of US$32.9 million (RM141.14 million). The acquisition is expected to be completed latest by Dec 31, 2017.
— The Edge Markets

E-hailing regulations necessary for safety of drivers, passengers
The same regulations imposed on conventional taxi drivers and e-hailing service providers are aimed at ensuring the safety of the passengers, said Minister in the Prime Minister’s Department Datuk Seri Nancy Shukri.
— The Borneo Post

Average airfares to continue dropping
Average airfares will continue to drop amid competitive pressure despite higher passenger traffic volumes and increasing capacities and destinations.
— The Star Online

NRI-owned financial start-up expands ops to Malaysia, HK
Singapore, Aug 15 A financial technology start-up founded by a Singapore-based NRI has raised USD 45 million in its second round of funding as it expands its online remittance services to two new markets of Malaysia and Hong Kong, a company official said today.
— Outlook The News Scroll

AISB acquires Parkwood with plans to develop residential project
Amalgamated Industrial Steel Bhd (AISB) is acquiring Parkwood Sdn Bhd for RM709,435 cash and settle its debt of RM17.75 million, as part of its strategic plan to venture into property development.
— The Sun Daily

MACC arrests Isa Samad over luxury hotels purchase by Felda unit
Tan Sri Mohd Isa Abdul Samad has been arrested by the Malaysian Anti-Corruption Agency (MACC) in relation to the controversial purchases of two luxury hotels by Felda Investment Corp Sdn Bhd. (FIC)
— The Edge Markets

Healthcare insurance premium may rise
Malaysian healthcare insurers expect premium rates to increase from 12% to 15% per year due to increasing demand for services from the affluent and higher incidences of chronic and lifestyle diseases, such as diabetes and obesity.
— The Star Online

Ringgit likely to return to fair value in 2H17
Standard Chartered Research expects the ringgit to return to its “fair value” in the second half of 2017, instead of first half of 2018.
— The Sun Daily

Immediate hurdle for UEM Edgenta at RM2.70, says AllianceDBS Research
AllianceDBS Research said UEM Edgenta Bhd (Edgenta) had on Aug 15 tested previous day’s high of RM2.64 before closing at the day’s low of RM2.54 (down 1 sen or 0.39%).
— The Edge Markert

PNB proposes converting 20% of Maybank shares into Islamic shares
Permodalan Nasional Bhd (PNB), which holds a 48% equity interest in Malayan Banking Bhd (Maybank), is mooting for 20% of the banking group’s shares to be categorised as Islamic shares or i-shares.
— The Sun Daily

Malaysian palm oil prices suffer sharpest fall in a week as exports drop
Malaysian palm oil futures slid on Tuesday evening to their steepest fall in a week, tracking a decline in exports and weaker performance among other related edible oils.
— The Star Online

Passenger service charge for long-haul flights at klia2 seen increasing to RM73 in Jan 2018
The passenger service charge (PSC) for long-haul flights at klia2 will likely be increased to RM73 in January next year, 46% higher than the current RM50.
— The Sun Daily

PNB’s next plan for Maybank – creating RM20bil syariah-compliant banking entity
n a move to tap into the growing number of Islamic funds, Permodalan Nasional Bhd (PNB) is working on a proposal to carve out a portion of Malayan Banking Bhd (Maybank) shares into a separate syariah-compliant vehicle.
— The Star Online

Amended Poca more effective
The Prevention of Crime Act (Poca) 1959 has gone through a series of amendments to make it more effective in combating crime, especially organised crime and crime by syndicates using force and violence, and to be in tandem with current development.
— The Borneo Post

Penang UMNO urges state government to act boldly against illegal factories
The Penang UMNO Liaison Committee today urged the DAP-led state government to be firmer and bolder in acting against illegal factories that pose a threat to public health and safety.
— Astro Awani

KL Kepong expects higher plantation earnings, says CIMB Research
Kuala Lumpur Kepong (KLK) expects higher plantation earnings for the financial year ending Sept 30, 2017 due to expectation of higher fresh fruit bunches (FFB) production in the coming months, driven by the projected recovery in FFB yields from the El Nino event.
— The Star Online

 

Feature photo World Bank / Nafise Motlaq
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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