Malaysia Morning News For June 2

Malaysia Morning News For June 2

Malaysia morning news

Global passenger traffic for April rose by 10.7%, says IATA
Global passenger traffic data for April 2017 showing that demand (measured in revenue passenger kilometers or RPKs) rose by 10.7% compared to April 2016, which was the fastest pace in six years, according to the International Air Transport Association (IATA).
The Edge Markets 

RHB, Ambank Officially Commence Merger Discussion
RHB Bank Bhd (RHB) and AMMB Holdings Bhd (AmBank) today announced that approval from Bank Negara Malaysia (BNM) has been obtained for the two parties to commence discussions for a proposed merger between the two.
Malaysian Digest 

Manufacturing output falls in May
Manufacturing output fell in May after the climb in four consecutive months this year amid slower demand, IHS Markit said in its Nikkei Malaysia Manufacturing Purchasing Managers’ Index (PMI) yesterday.
The Edge Markets 

Retail, customer service hit hardest as Malaysian firms cut hiring
Malaysia’s retail industry suffered the steepest decline in online recruitment across the year as hiring activity fell 11 per cent between last month and April 2016, an index gauging online job posting activities revealed.
– MALAY MAIL ONLINE

Local businesses to improve in 2Q17
Business in the second quarter of 2017 (2Q17) is expected to increase to 4.5 per cent as recorded by the confidence indicator compared to (-6.9) per cent in the preceding quarter, said the Department of Statistics.
– The Borneo Post Online

Malaysian varsities expected to rise in QS World University Ranking
Malaysia’s public universities will record a rise in the QS World University Ranking which will be announced on June 8.
– FMT

7-Eleven Malaysia scraps RM61.67m rights issue
Convenient store operator 7-Eleven Malaysia Holdings Bhd has scrapped plans for a RM61.67 million rights issue of warrants to fund working capital following a lukewarm market response.
The Edge Markets 

Malaysia’s Internet connection is Asia-Pacific’s 10th fastest
Malaysia’s average Internet connection speed is the 10th fastest in Asia-Pacific, says international content delivery network service provider, Akamai.
The Star Online 

KKB’s OceanMight completes first ECP project Kinabalu Redevelopment
OceanMight Sdn Bhd (OceanMight) has officially completed its first Engineering Construction and Procurement (ECP) project – the Kinabalu Redevelopment Wellhead Topside and Jacket.
– The Borneo Post Online

Malaysia Offers Vast Opportunities For Foreign Franchise Companies
Malaysia offers vast opportunities for franchise companies from abroad, particularly ASEAN countries, to expand into the local market.
Malaysian Digest 

Pos Malaysia 4Q17 courier volume grows 27%
In the fourth quarter of financial year 2017 (4QFY17), Pos Malaysia Bhd’s courier volume grew by 27% while its top line rose by 24%, implying a 3% drop in average courier fee charges. This is due to higher contribution from contract customers which yields lower compared with walk-in customers.
The Edge Markets 

Airbnb flourishing in Malaysia with 18,000 listed properties
Airbnb South-east Asia, Hong Kong and Taiwan country manager Robin Kwok said there are already 18,000 Malaysian properties listed on Airbnb.
The Malay Mail Online 

CIMB Research keeps Hold on Westports, lowers target to RM3.84
CIMB IB Research has maintained its “Hold” rating on Westports Holdings Bhd at RM4.06 with a lower target price of RM3.84 (from RM3.90) after Westports guided that its FY17F volumes would decline by a “single-digit percentage” year-on-year.
The Edge Markets 

Working Hard To Boost Sector
The Malaysian palm oil industry has overcome various challenges in its 100-year history, more so its tireless fight against smear campaigns targeting the palm oil industry, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.
Malaysian Digest 

Maha Gayabina emerges as Priceworth’s top shareholder with 15% stake
Maha Gayabina Sdn Bhd, whose director and shareholder includes Tengku Badrul Hisham Tengku Mohd Salim, has become timber group Priceworth International Bhd’s largest shareholder with a 15% stake.
The Star Online 

Redevelopment of Subang’s Terminal 2 to begin end-2017
The redevelopment of Terminal 2 at the Sultan Abdul Aziz Shah Airport in Subang, Selangor, is set to begin at end-2017, said Subang SkyPark Sdn Bhd
The Edge Markets 

 

Feature photo Trinn Suwannapha / World Bank
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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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