Malaysia Morning News For July 7

Malaysia Morning News For July 7

Malaysia morning news

Report: Malaysia’s cybersecurity is third best globally
Malaysia is ranked third among 193 countries in terms of its commitment to cybersecurity, according to the Global Cybersecurity Index (GCI) 2017.
The Star Online

Tourism Tax: Special Incentives For Local Travel Agencies
The government has agreed to provide special incentives to local travel agencies to prevent contract cancellation arising from the introduction of the tourism tax on July 1, said Malaysian Inbound Tourism Association (MITA) president Uzaidi Udanis.
Malaysian Digest 

Report: Malaysian involved in RM19 billion forex scam in China
A Malaysian man is said to have been involved in a large-scale forex investment scheme which is believed to have received some RM19 billion from 400,000 investors in China within six months, China Press reported.
Free Malaysia Today

Singapore Tops First Asia-Pacific University Rankings: Malaysia Rising
Five Asean countries are represented in the first edition of the Times Higher Education (THE) Asia-Pacific University Rankings, with Singapore taking the first (and fifth) spot for the entire Asia-Pacific region. Asean’s third highest ranked university is Thailand’s Mahidol University (MU), while Malaysia is making its presence felt with seven universities listed in the top 800.
— AEC News Today

Malaysia, Indonesia Muslim groups call for Starbucks boycott
Muslim groups in Malaysia and Indonesia have called for a boycott of Starbucks because of the coffee chain’s support for LGBT rights.
The Spokesman-Review 

Mercedes Malaysia on track for another record year
Mercedes-Benz Malaysia Sdn Bhd (MBM) expects the second half of 2017 to remain positive and is optimistic it is on track for yet another record year.
The Star Online 

Thousands of migrant workers arrested in Malaysia in major crackdown
More than 2,000 illegal migrant workers in Malaysia are facing deportation amid one of the largest crackdowns in recent years, with campaigners concerned this has forced immigrants into hiding and increased the risk of human trafficking.
The Edge Markets 

Hong Kong seizes $9M worth of ivory in Malaysia shipment
Hong Kong customs officials said Thursday they have seized more than $9 million worth of ivory this week in the city’s biggest haul in 30 years.
The Washington Post 

French smartphones up for grabs at Ride for Malaysia
FRENCH smartphone company Wiko Mobile Malaysia Sdn Bhd will sponsor seven units of Android smartphones worth RM6,093 for Ride for Malaysia.
The Star Online 

Fast Asia Open: Malaysia trade, Thailand foreign reserves
Donald Trump has called on Russia to end “destabilising” activities around the world as the US president sought to reassure his European allies that Washington stands behind the Nato alliance.
The Financial Times 

Malaysia plans to send humanitarian aid to Marawi: Defence Minister
Malaysia’s Defence Minister Hishammuddin Hussein said he is in discussions with his Philippine counterpart to send humanitarian aid to conflict-hit Marawi.
Channel NewsAsia 

AmInvestment Research starts coverage on Only World Group, fair value RM1.66
AmInvestment Bank Research has initiated coverage on Only World Group Holdings Bhd (OWG) at RM1.70 with a “Hold” recommendation and fair value of RM1.66.
The Edge Markets 

Malaysia’s fiscal deficit widens for Jan-May period
Public spending remains on the rise, resulting in a wider fiscal deficit in the January to May period. The government has cut each ministry’s budget to curb the ballooning operating expenditure.
The Edge Markets 

Bank Mandiri to expand in Malaysia as first ‘ASEAN bank’
Bank Mandiri will expand operations in Malaysia by using its newly awarded status as a cross-regional lender, Indonesia’s largest state-owned bank said Thursday.
Nikkei Asian Review 

Hand-in-hand strength for rubber glove sector
Malaysia’s glove sector is likely to see strong earnings growth over the next two years, while an oversupply is unlikely until the second half of 2018 (2H18).
The Borneo Post 

Malaysia palm firm FGV’s stake sale plan to Indonesia tycoons on hold
Talks to sell stakes in Felda Global Ventures Holdings Berhad (FGV) (FGVH.KL) to two Indonesian billionaires have been suspended due to a management crisis at the world’s third biggest palm plantation group, sources close to the deal said.
The Borneo Post 

M’sian Insurance Market Expected To Grow 5.8 Pct Annually
The Malaysian insurance market is expected to grow by 5.8 per cent annually over the next decade, in tandem with global growth which is anticipated to climb to almost six per cent over the next ten years.
Malaysian Digest 

AirAsia Targets Business Travellers With Launch Of Mycorporate
AirAsia Bhd is set to launch MyCorporate, a suite of products exclusively made for business travellers consisting of three bundle options, depending on the requirements of the traveller and company budget — Fare Only, Corporate Lite and Corporate Full Flex.
Malaysian Digest 

Bank Mandiri To Start Local Ops Soon — BNM Governor
Indonesia’s Bank Mandiri will be the first “Qualified Asean Bank” to operate here soon, said Bank Negara Malaysia (BNM) Governor, Datuk Muhammad Ibrahim.
Malaysian Digest 

Yinson sails on
The sober outlook for the oil and gas (O&G) industry has not stopped Yinson Holdings Bhd from expanding its reach.
The Star Online 

Certain property segments will outperform in 2H
Despite the overall property sector outlook being projected to remain challenging, analysts opine that certain segments will outperform others in the current market condition.
The Borneo Post 

Tenaga plans RM5b Sukuk programme, 50 year tenure
Tenaga Nasional Bhd is setting up a RM5bil Islamic medium term notes (MTN) programme with a tenure of between of one to 50 years.
The Star Online 

Bursa Malaysia steadily improves, more IPOs coming
Bursa Malaysia, which has been steadily picking up in the first half of 2017 due to strong economic fundamentals, will likely continue the momentum in the second half of the year.
The Borneo Post 

The RM1mil challenge
For the first time, finalists in a stock market challenge will be given RM1mil cash to show off their investment skills in the trading world.
The Star Online 

 

Feature photo John Walker
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 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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