Malaysia Morning News For June 23

Malaysia Morning News For June 23

Malaysia morning news

Singaporean firm to build platform for Malaysia’s life insurers
A unit of Singapore-based tech firm Silverlake Axis has won a contract to develop a digital platform for life insurance and takaful providers in Malaysia.

S&P unconcerned by Malaysia election and corruption uncertainty
Political uncertainty surrounding upcoming elections and the 1MDB scandal were not enough to shake S&P’s confidence in Malaysia, with the ratings agency maintaining the country’s position as the poorest nation to hold a rating of A- or above with all three major ratings agencies.
Financial Times 

Malaysia’s IHH Healthcare dismisses report it’s close to buying Fortis
Malaysia’s healthcare services provider IHH Healthcare Berhad today said it is not close to “concluding any negotiations” to buy controlling stake in Fortis Healthcare.

Global ports sector faces structurally slower growth, says Fitch
Traffic growth in the ports sector is likely to remain well below historical levels for the foreseeable future, due to fundamental structural changes in the industry and global trade, according to Fitch Ratings.
The Edge Markets

‘We will react and respond to any discriminatory measures against Malaysian palm oil,’ warns minister
With a recent European resolution calling for tariffs and trade barriers against any palm oil linked to deforestation, Malaysia’s minister for plantations and commodities warns: “We will react and respond accordingly to any discriminatory measures against Malaysian palm oil.”

A City In Malaysia Has Been Named The Best Place To Rent In The World
In a recent survey by consulting firm PricewaterhouseCoopers (PwC), guess which city jumps to first place for renters when taking into consideration housing expenses?
Malaysian Digest 

No plastic, says chemistry dept of Chap Rambutan rice
The analysis of rice samples taken from the Cap Rambutan processing and packaging factory in Alor Setar confirms that the samples are genuine and do not contain plastic as alleged, says Agriculture and Agro-Based Industry Ministry’s Paddy and Rice Regulatory (KPB) Unit director-general, Shamsuddin Ismail.
Free Malaysia Today 

Bank Negara red-flags 14 firms over investment schemes
Fourteen companies which are allegedly operating money games and pyramid schemes have found themselves in Bank Negara’s latest financial consumer alert list.
The Star Online 

AmInvest Research starts coverage of MKH with Buy call
AmInvestment Research has initiated coverage of property company MKH Bhd with a Buy recommendation and a fair value of RM3 per share, based on a sum-of parts (SOP) valuation.
The Star Online

Sabah wants tourism tax ‘fine-tuned’, invites Sarawak’s input
Although the Sabah state cabinet recognises the merits of the new tourism tax, it says there is a need for further deliberation and clarification on some key issues to ensure that the state tourism industry benefits from it.
Free Malaysia Today 

Another bank punished over 1MDB scandal, fined RM43m
Edmond de Rothschild private bank has become the latest financial institution to be punished over regulatory lapses in relations to money laundering and the 1MDB affair.

KLIA saw growth of 20.2% in passenger traffic in April, says ACI
The Kuala Lumpur International Airport (KLIA) saw a growth of 20.2% in passenger traffic in April this year, according to Airports Council International (ACI).
The Edge Markets 

Far East To Sell Agricultural Land To Jasa Unik For Rm6.74 Mln
Far East Holdings Bhd (FEHB) has signed a sale and purchase agreement with Jasa Unik Sdn Bhd for the sale of agricultural land in Pekan, Pahang, for RM6.74 million.
Malaysian Digest

Minister: SPAD own entity because public transport too big for Transport Ministry
The Land Public Transport Commission (SPAD) is placed under the Prime Minister’s Department so the Transport Ministry (MOT) can focus on the already broad areas of aviation, sea transport and private road vehicles, a minister told the DAP.
The Malay Mail Online 

Boeing tops Airbus in air show haul for first time since 2012
Boeing Co secured twice as much in order value at the Paris Air Show as rival Airbus SE, marking the US plane maker’s first victory in five years at the aviation industry’s annual showcase.
The Star Online 

Malaysian caught smuggling exotic animals
Thai wildlife officers have arrested a Malaysian man attempting to smuggle two baby orang utan, 51 tortoises and six raccoons into the kingdom across its southern border.
The Star Online

Oil’s Slide Boosts Gold Futures
The slide in crude oil prices has given the ‘safe haven’ assets a boost, lifting the gold futures contracts on Bursa Malaysia Derivatives today.
Malaysian Digest 

Malaysia to investigate foreign exchange scandal during Mahathir era
Malaysia will form a Royal Commission of Inquiry (RCI) to investigate a multi-billion-dollar foreign exchange scandal involving the central bank over two decades after the issue first came to light, the government said on Wednesday (Jun 21).
Channel NewsAsia 

Island puts limits on foreign retailers
To curb foreigners from taking over Penang island’s retail sector, the city council is enforcing a set of new rulings on foreign businessmen.
The Star Online 

1MDB woes, polls pose risk to Malaysia’s sovereign rating
Ongoing political challenges in relation to allegations of corruption against 1Malaysia Development Bhd (1MDB), coupled with the upcoming general election, pose potential risks to Malaysia’s sovereign rating over the near- to medium-term, said rating agency Standard & Poor’s Global Ratings (S&P).
The Edge Markets 

DRB-Hicom buys part of Proton’s RCCPS, gets RM1.1b R&D reimbursement
Prior to the entry of Zhejiang Geely Holding Group Co Ltd into Proton Holdings Bhd, DRB-Hicom Bhd said it is buying over part of the redeemable convertible cumulative preference shares that Proton issued to a government-owned company.
The Edge Markets 

People Urged To Donate Blood During Raya Holidays
The number of blood donors has dropped by almost 40 percent in the month of Ramadan, causing the National Blood Centre (PDN) to experience a shortage of blood supply.
Malaysian Digest 

Perak Police Nab 40, Seize Fireworks Worth RM39,200
The state police detained 40 people in connection with the seizure of firecrackers and fireworks worth RM39,200 during the ongoing month of Ramadan.
Malaysian Digest 


Feature photo John Ragai
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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