Malaysia Morning News For August 18

Malaysia Morning News For August 18

Malaysia’s e-commerce industry now a RM24.6bil business – iPriceMalaysia morning news
The Malaysian e-commerce industry has grown steadily after its boom in the mid-2000s and is now a RM24.6bil business, said iPrice Group.
The Star Online

PM announces special tax incentive for NCER players
Prime Minister Datuk Seri Najib Tun Razak today announced a special tax incentive for the Northern Corridor Economic Region (NCER) to boost investment in the region.
Astro Awani

Fitch affirms Malaysia’s rating at A minus, Stable outlook
Fitch Ratings has affirmed Malaysia’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘A-‘ with a Stable Outlook.
The Star Online

Glomac says JV partner demands over RM100m
Glomac Bhd will defend itself against joint venture (JV) partner Score Option Sdn Bhd’s statement of claim for more than RM100 million, after the latter demanded compensation for a property project.
The Edge Markets

Malaysia Ranks 4th Largest FDI in Laos
Malaysia has been ranked the 4th largest foreign direct investor in Laos following China, Vietnam and Thailand with many Malaysian investment projects reported in hydropower industry and special economic zones.
Lao News Agency 

Singapore High Commissioner to Malaysia criticises Utusan for false assertions in commentary on Elected Presidency
Singapore’s High Commissioner to Malaysia Vanu Gopala Menon on Thursday (Aug 17) wrote a letter criticising Utusan Malaysia for publishing “false assertions” about the city’s Presidential Election – the second time he has done so in four months.
— Channel NewsAsia

SingX expands remittances to Malaysia and HK
Singapore FinTech startup now supports cross-border digital remittance to the markets
Telecomasia 

Education Minister peeved by leak of problem schools list
The release of the locations of 402 schools identified as hotspots for disciplinary and drug problems by the Education Ministry as reported by The New Straits Times yesterday has drawn the ire of Education Minister Datuk Seri Mahdzir Khalid.
The Borneo Post

More local rail operators needed to handle freight, cargo services – Liow
Malaysia needs more local railway operators to handle freight and cargo services to enhance connectivity and trade activities, said Transport Minister Datuk Seri Liow Tiong Lai.
Astro Awani

Malaysia to host 49th World Congress of Surgery
Malaysia will host the 49th World Congress of Surgery (WCS) in 2021, said Health Ministry director-general Datuk Dr Noor Hisham Abdullah.
The Star Online

No money to hire graduates, says MEF
The Malaysian Employers Federation (MEF) has cited poor economic conditions as the primary reason for the high number of unemployed graduates.
Free Malaysia Today

‘Public sector can save RM1 bln through good regulatory practices’
The Malaysia Productivity Corporation (MPC) estimates that the public sector can save at least RM1 billion in costs through Good Regulatory Practice (GRP).
The Borneo Post

Fast Asia Open: Malaysia Q2 GDP, China FDI
A van crashed into pedestrians in Barcelona’s bustling tourist district of Las Ramblas on Thursday evening, killing 13 and leaving dozens wounded in what police said they were treating as a terrorist attack.
—Financial Time

Timber, oil palm sectors urged to go into R&D
Industry players in the timber and oil palm sectors in the state are encouraged to emphasise on research and development (R&D).
The Borneo Post

Pos Malaysia 1Q profit up 19%
Pos Malaysia Bhd’s net profit grew 19% to RM37.91 million for its first quarter ended June 30, 2017 (1QFY18), compared with RM31.84 million in the previous year. The earnings growth was attributed to higher contribution from its courier segment, international division and its newly acquired logistics and aviation business.
The Edge Markets

Town Square Soho’s launching this weekend
Ibraco will be launching its new commercial space Town Square Soho Commercial at Sarawak Housing and Real Estate Developer Association (Sheda) Bintulu Home & Property Roadshow at Commerce Square Mall in Bintulu this weekend (Aug 19 and 20).
The Borneo Post

Southern Steel may climb higher, says RHB Retail Research
RHB Retail Research said Southern Steel Bhd may climb higher after forming a white candle and hitting its new 52-week high.
The Edge Markets

Fearing a more divided Malaysia post-GE14
As the election draws closer, it appears that we are inching further away from the moderate path in our behaviour and expressions. IT has been almost three years since I started writing this column, so it saddens me to say that this will be my final piece for the foreseeable future.
The Star Online

KKB’s OceanMight wraps up second ECP project
OceanMight Sdn Bhd (OceanMight), the associate company of KKB Engineering Bhd (KKB) has officially wrapped up their second Engineering Construction and Procurement (ECP) project – The Bunga Pakma Wellhead riser project.
The Borneo Post

Brisk business for Kuala Lumpur 2017 merchandise
Sales of the 29th SEA Games Kuala Lumpur 2017 merchandise have gone through the roof as the opening draws closer.
New Straits Times

Petronas CEO expects balance in oversupplied LNG market by 2023
Malaysian state energy company Petroliam Nasional Bhd (Petronas) expects the global liquefied natural gas (LNG) market to remain oversupplied until as late as 2023, its chief executive said.
The Borneo Post

Renewed buying interest emerged in GHL Systems, says AllianceDBS Research
AllianceDBS Research said GHL Systems Bhd (Ghlsys) had on Aug 17 crossed over the RM1.64 hurdle to reach a high of RM1.72 before settling near the day’s high at RM1.69 (up 9 sen or 5.62%).
The Edge Markets

Malaysia seen posting slightly slower Q2 growth on softer domestic demand
Malaysia’s economy is expected to have grown at a slightly slower pace in the second quarter due to weaker private consumption, even as trade remained robust.
The Star Online

CIMB IB Research raises target price for Aemulus to 69 sen
CIMB IB Research has maintained its “Hold” rating on Aemulus Holdings Bhd at 60 sen with a higher target price of 69 sen (from 53 sen) and said the company’s 9MFY9/17 core net profit beat house/Bloomberg consensus estimates, at 85%/104% of FY17F forecasts, due to higher-than-expected tester volume shipment in 3QFY9/17.
The Edge Markets

Age of Malaysia’s population will help create demand for housing
Malaysia has tremendous potentials, one being the age of its population which will create great forward demand for housing and others, says Orkney Holdings Sdn Bhd, a company which provides consultancy services on strategy and project implementation in the real estate and services sectors.
Astro Awani

Fajarbaru eyes ECRL maintainance contract
Fajarbaru Builder Group Bhd, a local construction company, is eyeing to secure the maintenance works for the 688-kilometre (km) East Coast Rail Link (ECRL) project that will link Pahang, Terengganu and Kelantan, in the east coast, to the Klang Valley.
—The Borneo Post

Geely’s revenue surges 118 per cent in first half
hina’s Geely Automobile Holdings posted stellar financial results for the first half of this year (1H17) with revenue surging 118 per cent to RMB39.42 billion (RM25.30 billion) from the same period last year.
The Borneo Post

 

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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