Malaysia Morning News For July 25

Malaysia Morning News For July 25

Malaysia morning newsMalaysian start-up Grab out to secure RM10.7bil investment
Grab, a local start-up that has amassed a dominant market share of the ride-hailing market in South-East Asia, is expanding into financial services with the latest round of fundings.
The Star Online 

IMF upgrades outlook for Malaysian economy
The International Monetary Fund (IMF) has revised its forecast on Malaysia’s economic growth to 4.8% for 2017 based on favourable economic data so far this year.
The Sun Daily 

Malaysia’s Lead in Shariah Funds
Stimulated by government initiatives, Malaysia remains a frontrunner in Southeast Asia’s Shariah fund market, with $24 billion in Islamic mutual fund assets under management (AUM) for the year ending May 2017.
finews asia 

Malaysia’s CIMB to partner Alipay for mobile payment platform
CIMB Group Holdings Bhd, Malaysia’s second-biggest bank, on Monday said its subsidiary will form an equity joint venture with Ant Financial Services Group, the parent of Alipay, to provide mobile wallet and related financial services.

Malaysia on upside bias towards high income nation
Malaysia has achieved significant milestones through well laid out initiatives under the National Transformation Programme (NTP) towards becoming a high-income nation and was now on an upside bias in meeting the goal, say economists.
The Borneo Post 

Malaysia’s newest MRT stations vandalised within first week of opening
It has only been a week since the opening of Malaysia’s newest subway line – and its owner MRT Corp has had to fork out thousands of ringgit to repair the damage caused by vandals at some of the MRT stations.
The Straits Times (paywall)

Malaysia’s new vehicle sales likely to meet 1.7% annual volume growth aim
Malaysia’s new vehicle sales will likely pick up pace in the months ahead and end the year with a 1.7% volume growth as consumer sentiment improves amid faster economic expansion.
Nikkei Asian Review 

Rohas Technic to buy 75% in EPCC player HG Power for RM91.66m
Loss making Rohas Technic Bhd plans to buy a 75% stake in HG Power Transmission Sdn Bhd for RM91.66 million in cash and shares, to expand its existing business in the power and telecommunication industries.
The Sun Daily 

AirAsia expects to form Asean holding company in 2 years
LOW-COST airline AirAsia Bhd expects to form a holding company in Asean within the next two years, an optimism based on its recognition as an Asean brand in the region.
New Straits Times 

Malaysia faces low female participation in STEM sectors
The Star has reported that women made up less than half of the graduates in Malaysia when it comes to engineering and technology in 2015. In the report, Academy of Sciences Malaysia (ASM) fellow prof Datuk Dr Halimaton Hamdan said: “Long-time stereotyping has made women feel like they’re not as valued as their male counterparts.”
Human Resources Online 

Chinese, Japanese Firms Face Off In Bid For Bandar Malaysia Project
The multibillion-dollar Bandar Malaysia property development project is finding no shortage of interest, with a stiff contest shaping up between a clutch of China’s state-owned entities and two Japanese giants, Daiwa House Industry Group and Mitsui Fudosan.
Malaysian Digest 

Malaysia throwing ‘the kitchen sink’ with second Pedra Branca challenge, say experts
Malaysia’s second attempt to contest Singapore’s sovereignty over Pedra Branca within the space of four months points to a bid to “do what they can” against a backdrop of domestic political factors, said experts on international law, politics and history.
Channel NewsAsia 

Bursa Malaysia implements RENTAS for BMDC settlements
Bursa Malaysia Bhd has started using the Real-time Electronic Transfer of Funds and Securities System (RENTAS) for settlement of payments on Bursa Malaysia Derivatives Clearing Bhd (BMDC).
The Borneo Post 

Analysts divided on British American Tobacco’s outlook following results
Kenanga Investment Bank Bhd (Kenanga Research) and AmInvestment Bank Bhd (AmInvestment Bank) are divided on their opinion on British American Tobacco (Malaysia) Bhd’s (BAT) outlook.
The Borneo Post 

Westports to see better financial year 2018
Westports Holdings Bhd (Westports) could see a challenging second half of 2017 (2H17) brought on by changes the global container shipping industry but analysts believe that the port operator could see a better financial year 2018 (FY18) from improved demands.
The Borneo Post 

Affin Islamic Contributes RM100,000 In Zakat To MAIK
Affin Islamic Bank Bhd has contributed RM100,000 in zakat to the Kelantan Islamic Affairs and Malay Customs Council (MAIK).
Malaysian Digest 

PIKOM Targets RM300 Mln In GMV For #Mycybersale 2017
The National Information and Communication Technology (ICT) Association of Malaysia (Pikom) will be organising the largest annual online sale, #MYCYBERSALE 2017 with a target of RM300 million in Gross Merchandise Value (GMV).
Malaysian Digest

Tailored Structural Reforms Key To Boost Productivity – IMF Official
Well-sequenced and tailored structural reforms are needed in all countries to boost productivity and investment, said International Monetary Fund (IMF) Economic Counsellor Maurice Obstfeld.
Malaysian Digest 

RM1.87 million collected from 20-sen charge on plastic bags
A total of RM1.87 million has been collected from shoppers in Selangor through the 20-sen charge for each plastic bag since the “No Plastic Bag” campaign was implemented in the state on Jan 1 this year, the Selangor assembly was told today.
Free Malaysia Today 

Settlers’ cost of FGV shares halved, windfall for 77,934 investors
Settlers’ cost of Felda Global Ventures Holdings Bhd (FGV) shares will be reduced by half following the latest set of measures announced by the Federal Land Development Authority (Felda).
The Star Online 

Rohas Tecnic signs SSA to buy HG Power Transmission at lower price
Rohas Tecnic Bhd has today entered into a conditional share sale agreement (SSA) with shareholders of HG Power Transmission Sdn Bhd (HGPT) to buy over a 75% stake in the company at a lower price of RM91.66 million.
The Edge Markets 

Nine Cambodians Repatriated From Malaysia
Nine of the more than 30 nationals who sought shelter at the Cambodian Embassy in Kuala Lumpur after the Malaysian government initiated a crackdown on undocumented migrant workers on July 1 have been repatriated, the Foreign Affairs Ministry said in a statement on Monday.
The Cambodia Daily (paywall)

5 Malaysians in counterfeit credit card gang jailed in Singapore
Five members of a transnational counterfeit credit card syndicate have been jailed for a period ranging from 17 months to 44 months for possessing counterfeit cards and forged identity documents and cheating, The Straits Times reported today.
Free Malaysia Today 


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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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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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