Malaysia Morning News For August 21

Malaysia Morning News For August 21

Malaysia morning news

Malaysia ready to embrace digital economy
The digital economy is an emerging trend in the global business landscape, with an increasing number of organisations, companies and investors adopting it.
— The Star Online

Malaysia’s second quarter GDP exceeds expectations
alaysia’s gross domestic product (GDP) growth for the second quarter of 2017 (2Q17) exceeded expectations, growing at its fastest pace in two years.
— The Borneo Post

Malaysia’s RM266b state fund wants to hold less cash
Malaysia’s largest state-owned fund manager is looking to hold less cash even as it struggles to make acquisitions that would generate attractive returns.
— The Business Times

Foreign investors now more realistic about M’sia
Foreign investors are more realistic about the economic and financial prospects of Malaysia now than they were before the 1997-98 Asian financial crisis (AFC) struck, according to the chief executive officer of world’s largest indices provider MSCI Inc.
— The Edge Markets

Malaysia needs Chinese funds to catalyse more growth
From Melaka to Bandar Malaysia and further on to the East Coast, Chinese monies are expected to pour into Malaysia, though primarily in the form of loans from Chinese state-owned banks.
— The Edge Market

RM1.3bil order book to keep KKB busy
Steel fabricator KKB Engineering Bhd expects its current order book of RM1.26bil to keep the group busy until 2020, said group executive director Kho Pok Tong.
— The Star Online

‘State govt to work with property owners in promoting Siniawan Night Market’
The state government will collaborate with property owners in promoting Siniawan Night Market as a cultural heritage tourist attraction.
— The Borneo Post

Malaysia’s real GDP to grow at 5.3% this year, says RHB Research
RHB Research Institute Sdn Bhd has raised its real gross domestic product (GDP) growth forecast for Malaysia to come in at a stronger pace of 5.3% in 2017, fom 4.2% in 2016 after Malaysia’s real GDP recorded a stronger growth of 5.8% year-on-year (y-o-y) in 2Q17, up from 5.6% in 1Q, on the back of stronger external activities and private consumption.
— The Edge Markets

HOW CHINA IS HELPING MALAYSIA’S MILITARY NARROW THE GAP WITH SINGAPORE, INDONESIA
From new surveillance aircraft to a revamp of the naval fleet, the hardware wish list drawn up by Malaysia’s military to keep up with amply funded regional peers like Singapore and Indonesia is no small ask – especially for Prime Minister Najib Razak’s cash-strapped government.
— South China Morning Post

FMM: Review low threshold of SMEs’ eligibility for audit exemptions
The Federation of Malaysian Manufacturers (FMM) is seeking a review of the threshold of eligibility for audit exemptions for small and medium enterprises (SMEs), after the Companies Commission of Malaysia (SSM) allowed audit exemption for dormant and zero-revenue companies, and those earning less than RM100,000 revenue and holding at most RM300,000 worth of assets.
— The Sun Daily

New appeal for ringgit
The ringgit is seeing rising optimism due to the stronger-than-expected economic performance and reduced volatility of the currency.
— The Star Online

Hoteliers fear snags
The Sarawak Central Region Hotel Association anticipates there will be a lot of problems associated with the implementation of the Tourism Tax come Sept 1, particularly with the collection mechanism.
— The Borneo Post

Formosa Prosonic may trend higher, says RHB Retail Research
RHB Retail Research said Formosa Prosonic Industries Bhd may trend higher after surpassing the RM1.22 level and closed at a new 52-week high in its latest session.
— The Edge Markets

Offshore trading of ringgit illegal, Bank Negara reminds Malaysians
Bank Negara Malaysia (BNM) has clarified that Malaysian market participants are not allowed to engage in any offshore trading of the ringgit outside Malaysia.
— The Sun Daily

Mixed reaction towards S’wak’s projects progress
The team at Kenanga Investment Bank Bhd (Kenanga Research) was mixed on its outlook of several key Sarawakian projects following its recent trip here for updates on Sarawakian players under its purview.
— The Borneo Post

KUB may monetise property assets to help expansion
KUB Malaysia Bhd is considering plans to monetise its property assets as the group seeks to raise RM70mil to pay for expansion of its core businesses.
— The Star Online

Education Ministry working with MSN, MOM to unearth new sports talents
The education ministry will continue to work with the National Sports Council (MSN) and the Olympic Council of Malaysia (MOM) to unearth sports talent among ministry staff, teachers and pupils.
New Straits Times

PNB seeks to hold less cash
Malaysia’s largest state-owned fund manager is looking to hold less cash even as it struggles to make acquisitions that would generate attractive returns.
— Malaysia Mail Online

Sarawak-owned firm secures RM479 contracts from Petronas
Sarawak state-owned Brooke Dockyard and Engineering Works Corp has secured two offshore modules fabrication contracts worth RM479mil from Petroliam Nasional Bhd (Petronas).
The Star Online

Malaysia holds off Filipino’s execution, says Manila
Malaysia has granted a last-minute stay of execution to a convicted Filipino murderer following an appeal by Manila, Philippine officials said Saturday.
— The Star Online

Alam Maritim may rise higher, says RHB Retail Research
RHB Retail Research said Alam Maritim Resources Bhd may rise higher after forming a second consecutive long white candlestick.
— The Edge Markets

 

Feature photo WorldFish
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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