Malaysia Morning News For August 31

Malaysia Morning News For August 31

Malaysia morning newsBursa Malaysia to close on Monday
Bursa Malaysia Bhd and its subsidiaries will be closed on Monday (Sept 4) in conjunction with a special public holiday that was announced by Prime Minister Datuk Seri Najib Razak today.
— The Edge Markets

Malaysia’s Axiata to buy Pakistan telecom towers firm for $940 mn
Malaysian telecommunications firm Axiata Group’s infrastructure unit is buying telecom towers in Pakistan for $940 million in partnership with a local conglomerate, in what will be one of the biggest deals in the South Asian nation.
— Business Standard

Malaysia burns foreign trawler to curb illegal fishing
Malaysian maritime authorities on Wednesday publicly set fire to a foreign fishing boat for the first time in a move to deter illegal fishing.
— The News & Observer

Malaysia first country in Asean to use new flight approach procedure
Malaysia is the first country in the Association of South-East Asian Nations (Asean) to use the Required Navigation Performance Authorisation Required Approach (RNP-AR APCH) as its low-cost carrier AirAsia Bhd now uses the flight procedure.
— Malay Mail Online

Hundreds protest in Malaysia against Myanmar violence
Hundreds of protesters demonstrated in Malaysia on Wednesday (Aug 30) in support of Myanmar’s Rohingya Muslim minority after renewed violence forced thousands to flee the country.
— The Straits Times

Rohingya refugees in Malaysia: Time for policy rethink
United States President Donald Trump’s refugee ban had crushed the resettlement dreams of countless Rohingya refugees in Malaysia as the US is the largest resettlement country.
— The Straits Times

StanChart Research: Malaysia’s GDP growth to moderate in second half
Standard Chartered (StanChart) Research which had revised its full-year gross domestic product (GDP) growth forecast for Malaysia to 5.4% from 4.6% following a strong first-half economic performance, expects growth to moderate in the second half of the year.
— The Sun Daily

National Day parade kicks off
The National Day parade has kicked off and a long list of festivities is in store to commemorate Malaysia’s 60th year of independence.
— The Star Online 

Singapore leaders congratulate Malaysia on 60th Merdeka Day
President Tony Tan Keng Yam, Prime Minister Lee Hsien Loong and Minister for Foreign Affairs Vivian Balakrishnan have written congratulatory letters to their Malaysian counterparts ahead of Malaysia’s 60th Merdeka Day, Singapore’s Ministry of Foreign Affairs (MFA) said on Wednesday (Aug 30).
— Channel News Asia

Many areas continue to benefit from bilateral ties
2017 marks the 60th anniversary of diplomatic ties between Malaysia and Japan. This relationship may have begun as early as the 15th century when the Melaka Sultanate traded with the Ryukyu kingdom.
— Japan Times

Business performance, gross revenue to increase in 3Q17
Business performance in the third quarter of 2017 (3Q17) is expected to increase with confidence indicator at +11.9 per cent, mainly due to growth in industry (3.1 per cent), wholesale and retail trade (27.3 per cent) and services (24.0 per cent) sectors.
— The Borneo Post

Competitiveness and inclusion remain critical issues
Economic competitiveness and inclusion as well as social cohesion are some of the issues that Malaysian policymakers must continue to tackle in the years to come.
— The Star Online

Maybank optimistic on continued expansion in loans, net interest margin
Malayan Banking Bhd (Maybank), which reported a 43% increase in second-quarter net profit, expects continued expansion in loans and net interest margin (NIM) for FY17.
— The Sun Daily

Maybank pre-tax profit rises to RM2.24 bln in Q217
Malayan Banking Bhd’s (Maybank) pre-tax profit for the second quarter ended June 30, 2017 rose to RM2.24 billion from RM1.58 billion reported in the same period a year ago.
— The Borneo Post

CGC launches CGC-Glenmarie LRT station
Credit Guarantee Corporation Bhd (CGC) is targeting an exposure to five million commuters every month through the rebranding of the Glenmarie Light Rail Transit (LRT) station on the Kelana Jaya Line.
— The Star Online

Sunway eyes mergers and acquisitions
Sunway Group’s holding company, Sunway Bhd, is set to expand its portfolio of core businesses to create new avenues for growth domestically and regionally.
— The Star Online

CIMB says did not make statement on Malaysia inheritance tax
CIMB Group Holdings Bhd has denied rumours it was the source of information on the Malaysian Government’s alleged plan to include a 10% inheritance tax in Budget 2018.
— The Edge Markets

Late strong pick-up by Bursa
Bursa Malaysia staged a late strong pick-up before closing, led by gains in selected blue chips such as CIMB Group Bhd, Axiata Group Bhd and MISC Bhd.
— The Star Online

Malaysia’s Felda Posts 64.8% on Year Drop in 2Q Net Profit
Malaysian palm-oil producer, Felda Global Ventures Holdings Bhd. (5222.KU), on Wednesday posted a 64.8% on-year drop in its second quarter net profit, partly due to higher cost of sales, lower operating income and higher administrative expenses.
— Fox Business

Timber Land Properties’ Choo bags Asia Pacific Entrepreneurship Award 2017
Timber Land Properties Sdn Bhd’s (Timber Land Properties) managing director Kevin Choo Chung Ing, an entrepreneur known to push boundaries, recently snagged the Asia Pacific Entrepreneurship Award 2017 for the property development industry category.
— The Borneo Post

Malaysia’s Forest City and the Damage Done
It’s a Sunday in Johor, the southernmost state of peninsular Malaysia, and crowds of locals and foreigners are out for a good time in the sun. On the beach among the lounge chairs, young couples walk hand in hand, smartphone at the ready to immortalize the day with countless selfies.
— The Diplomat

Philippines, Indonesia, Malaysia plan meet on international terrorism
The leaders of the Philippines, Indonesia and Malaysia may meet to discuss international terrorism, President Rodrigo Duterte said Wednesday, as Filipino troops plan their final assault against Islamic State-styled militants in Marawi City.
— Philstar Global

25 top things to do and eat in Malaysia
For years, Malaysia cruised under the tourist radar, overshadowed by its more popular Southeast Asia neighbors such as Thailand and Singapore.
— CNN 


Feature photo Christopher Crouzet
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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