Malaysia Morning News For July 26

Malaysia Morning News For July 26

Malaysia morning newsForeign investors are cashing in on an emerging market with a booming currency
Things are looking up for Malaysia, with more foreign investors cashing in on the country’s improving economy and strengthening currency, market participants told CNBC on Tuesday.

Petronas halts US$28.8 billion Canadian LNG project
Petronas will not proceed with a proposed US$28.8 billion (RM123.3 billion) liquefied natural gas (LNG) project in western Canada because of weak global prices, the company said on Tuesday.
Free Malaysia Today 

Public Bank achieves pre-tax profit of RM3.37 billion for 1H17
For the first half of the year ended June 30, 2017 (1H17), the Public Bank Group’s pre-tax profit increased to RM3.37 billion, up 5.1 per cent from the corresponding period in 2016.
The Borneo Post 

Leap market to take smes to the next level  
Bursa Malaysia Bhd’s new Leading Entrepreneur Accelerator Platform (LEAP) Market will help take the growth of small medium enterprises (SMEs) to the next level, says Prime Minister Datuk Seri Najib Tun Razak.
The Borneo Post 

Malaysian capital market grew 9 pct to rm3.1 tln over six months of 2017
The Malaysian capital market increased nine per cent to RM3.1 trillion in the first six months of this year and is now ranked fifth in Asia, relative to the gross domestic product (GDP), Prime Minster Datuk Seri Najib Tun Razak said.
The Borneo Post 

Malaysia Light-Vehicle Sales Up 3.3% in First Half
Malaysia’s new-vehicle sales were up 3.3% to 284,461 units at the year’s halfway point. The Malaysian Automotive Assn. says the half ended with June sales down 12.4% at 50,275 units and predicts the July result will be little changed from June.

Malaysia –The Best Minds of Sourcing World to Converge
The 2017 Global Business Services Network (GBSN) forum, which took place in KL this week, provided a platform for the business community and decision makers to gather and discuss global business trends and shifts in business technology that affect the Global Business Services / Shared Services industry.
The Independent Singapore 

Malaysia-owned Pacific NorthWest LNG project abandons B.C. plans
Former Premier Christy Clark staked her 2013 election on a promise that a liquefied natural gas (LNG) boom in British Columbia would yield 100,000 jobs.
Metro News 

AirAsia X Malaysia passengers up to 1.39 million
AirAsia X Bhd (AAX) carried slightly more than a third more passengers in the second quarter (Q2) ended June 30 compared with a year earlier, with the total distance travelled by these passengers expanding by about the same percentage.
The Star Online 

Malaysia: PM Najib asks investors to set aside scandal amid stronger economy – report
MALAYSIA’S Prime Minister Najib Razak on Tuesday admitted the government’s weaknesses involving the multi-billion dollar state fund scandal dogging his leadership but asked investors to put the issue behind them amid the country’s improved economic outlook.
Asian Correspondent 

Ant sets sights on mobile pay dirt in Malaysia
Ant Financial Services Group plans to roll out a mobile payment service in Malaysia based on Alipay as it bids to expand into the lucrative Southeast Asian market.
China Org 

Neffos Malaysia launches X1 Lite smartphone at only RM499
Neffos Malaysia today launched a new smartphone, the X1 Lite, following the success of its original X1.
New Straits Times 

Malaysia’s property sector stable in H1 2017, survey finds
Confidence in the Malaysian property sector remained stable in the first half of 2017, with 36 per cent of respondents expressing overall satisfaction with market conditions during the period, according to PropertyGuru Malaysia’s Consumer Sentiment Survey.
The Malay Mail Online

Bursa Malaysia ends mixed amid cautious trading
Bursa Malaysia ended mixed yesterday amid cautious trading as investors took profits, particularly in small-capitalised stocks, dealers said.
The Borneo Post 

Malaysia rolls out vaccination campaign amid rabies outbreak
Dogs being taken for anti-rabies jabs at the Kota Sentosa Basketball Stadium in Kuching, Sarawak. An outbreak of rabies in the Malaysian states of Sarawak and Perak in recent weeks has many dog owners anxious.
The Straits Times (paywall)

US Exiting TPP An Unfortunate Turnaround : BNM
Malaysia has voiced disappointment with the move by the United States (US) to exit the Trans-Pacific Partnership (TPP) trade agreement.
Malaysian Digest 

Malaysia Airlines seeks partners for haj-focused service
Malaysia Airlines Bhd is in talks with potential investors for new charter flights to carry Muslim travellers on the annual haj pilgrimage, a service planned to give a new lease of life to surplus A380 superjumbos at the unprofitable carrier.
Free Malaysia Today 

Alam Maritim has till Aug 11 to submit revamp proposal
Alam Maritim Resources Bhd, which is being aided by Bank Negara Malaysia’s Corporate Debt Restructuring Committee to rationalise its debts, has been granted an extension of time till Aug 11 to submit its Proposed Restructuring Scheme.
The Sun Daily 

T7 acquires stake in Australian oil & gas producer explorer Triangle Energy
T7 Global Bhd, which returned to the black in the first quarter of the financial year ending Dec 31, 2017, has acquired a substantial 9.8% equity interest in Australian oil and gas producer and explorer, Triangle Energy Global Ltd, for US$500,000 (equivalent to RM2.15 million).
The Sun Daily 

Govt may study having single authority for affordable housing
The government may look into having a single authority to oversee the property market in the near future, said Second Finance Minister Datuk Seri Johari Abdul Ghani.
The Sun Daily 

All GLCs to have Integrity and Governance Unit
An Integrity and Governance Unit will be established at all government-linked companies (GLCs) as well as state and ministry-owned business entities in order to boost confidence in Malaysia, said Prime Minister Datuk Seri Najib Abdul Razak.
The Sun Daily 

Linde investing RM150m for expansion at Shah Alam site
Linde Malaysia will invest 30mil euros (RM150mil) to expand its gas and liquid production capacities at its site in Shah Alam.
The Star Online 


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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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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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