Malaysia Morning News For August 24

Malaysia Morning News For August 24

Malaysia morning newsMalaysia hands over body to US Navy
The Navy handed over remains found near the collision of USS John S McCain and an oil tanker on Tuesday to its US counterparts.
The Star Online

Malaysia’s Runaway Bride
Banking consolidation in Malaysia is proving to be fiendishly tough. Blame it on a runaway bride, but leave room to lament the country’s fraught racial relations.
Bloomberg

Malaysia Inflation Eases Further in July
Malaysia’s inflation eased further in July due to moderating fuel prices, official data showed Wednesday, marking the fourth consecutive month where it slowed from an eight-year high of 5.1% in March.
Fox Business

11 Groups of Malaysian Developers Eye Indonesian Property Investors
A total of 11 groups of leading developers in Malaysia held an exhibition titled Malaysia Property Tour 2017 in Jakarta. The event was held at the Ritz Carlton Hotel of Pacific Place, SCBD, Central Jakarta.
Netral English News

Losses May Accelerate For Malaysia Shares
The Malaysia stock market headed south again on Wednesday, one session after it had snapped the two-day losing streak in which it had fallen more than 5 points or 0.3 percent. The Kuala Lumpur Composite Index now rests just above the 1,770-point plateau and it may take further damage on Thursday.
Markets Insider

Jomo: China is not a blank cheque for Malaysia
While China holds the power to spur the recovery of the global economy given the subdued Western world, prominent economist Professor Dr Jomo Kwame Sundaram said Malaysia needs to be more cautious about accepting investments from the Eastern giant.
The Edge Markets

Malaysia a potential partner for Afghanistan’s aspirations
Afghanistan, which desires to deepen its ties with Malaysia, view this country as a potential partner to realise its economic aspirations, said its Ambassador to Malaysia, Atiqullah Atifmal.
The Borneo Post

Amway Malaysia posts higher revenue amidst soft consumer sentiments
Bursa Malaysia Main Market-listed Amway (Malaysia) Holdings Berhad (AMWAY Malaysia) today reported revenue of RM252.1 million for the second quarter of its 2017 financial year (2QFY17) which ended 30 June 2017.
The Independent

Irwan: 6 companies have shown interest in Bandar Malaysia
Six companies have shown interest and visited the Bandar Malaysia project site, according to Treasury secretary-general Mohd Irwan Serigar Abdullah.
Free Malaysia Today

GDP to grow above five per cent this year — Mohd Irwan
The government is confident that Malaysia’s economic growth will surpass five per cent this year, driven by external factors such as exports, private investments and private consumption, said Treasury Secretary General, Tan Sri Dr Mohd Irwan Serigar Abdullah.
The Bornoe Post

Sale of ANZ stake in Malaysia’s AmBank scrapped as RHB deal collapses: sources
Australia and New Zealand Banking Group Ltd’s (ANZ.AX) plans to sell its stake in AMMB Holdings (AmBank) Bhd (AMMB.KL) have fallen through after a proposed acquisition of the Malaysian lender by a domestic rival was scrapped, sources familiar with the matter said.
Reuters

Govt to streamline acts, regulations on affordable housing
The government aims to streamline the regulations and acts related to affordable housing in one-and-a-half year’s time, said National Housing Department deputy director-general Jayaselan K. Navaratnam.
The Sun Daily

BNM raids five premises for suspected money laundering
Bank Negara Malaysia (BNM) swooped on five premises in three states on Aug 17 for suspected money laundering while relevant documents, cash and foreign currencies were seized.
The Star Online

Trai, Malaysian Telecom Regulator ink pact
The Telecom Regulatory Authority of India has inked an agreement with the Malaysian Communications and Multimedia Commission (MCMC) to deepen bilateral cooperation in telecom and broadcasting regulation.
The Ecnomoics Times

KRI: T20 group benefits from govt aid for home ownership
The government’s affordable housing programmes have reached the top 20% (T20) of Malaysian households, which is a fiscal burden for the government, said Khazanah Research Institute (KRI).
The Sun Daily

Malaysian consumer confidence at highest since 2015
Malaysian consumer confidence showed signs of resilience in the second quarter of 2017 with an index score of 94 percentage points (pp), up seven points from Q2 2016, according to Nielsen’s latest global survey of consumer confidence and spending.
The Star Online

Freight Management secures courier licence, Q4 profit marginally higher
Freight Management Holdings Bhd, which saw net profit improve marginally to RM5.8 million for the fourth quarter ended June 30, 2017, has secured a courier service provider licence for a period of three years.
The Sun Daily

Petronas ponders options in Canada LNG venture
National oil company, Petroliam Nasional Bhd (Petronas), is weighing the options to develop and monetise its gas resources in Canada after shelving the plan for a multi-billion dollar liquefied natural gas (LNG) project in British Columbia.
The Borneo Post

Honda cars distributor Oriental posts RM114m profit as revenue jumps
Oriental Holdings Bhd posted a net profit of RM114.36 million in its second quarter ended June 30, 2017 (2QFY17), compared with a net loss of RM12.59 million a year earlier, as revenue jumped nearly 50%.
The Edge Markets

China: Malaysian durians to fly directly to China
Malaysia has for the first time ever obtained permission to export a large batch of durians directly to China. The head of agricultural and agro-based industries, Ahmad Shabery, says that he will lead 50 enterprises which deal with durians to participate in a large durian expo, which will take place in Nanning city in China in the middle of October.
Fresh Plaza

Malaysia to continue supporting multilateralism
Malaysia will continue to support multilateralism despite the prevalent anti-globalisation rhetoric in some parts of the world, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
The Borneo Post ]

Firm Lead Called For Malaysia Stock Market
The Malaysia stock market on Tuesday snapped the two-day losing streak in which it had fallen more than 5 points or 0.3 percent. The Kuala Lumpur Composite Index now rests just beneath the 1,775-point plateau and it draws a green light again on Wednesday.
Markets Insider

‘Failed RHB-AMMB merger a missed opportunity’
The highly anticipated merger between RHB Bank Bhd (RHB) and AMMB Holdings Bhd (AMMB) has been officially put to rest as the two banks announced on Tuesday that they would be formally ending their merger discussions.
The Borneo Post

FGV subsidiary sued over rights to land in Sabah
A wholly-owned unit of Felda Global Ventures Holdings Bhd, which it previously acquired from Golden Land Bhd, is being sued over the rights to a 5.75ha plot of land in Sabah.
The Edge Markets

Here’s your chance to meet David Beckham in Malaysia
Guess what? Former football hunk David Beckham is coming to Malaysia this September!
Malaysia Mail Online

 

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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