Malaysia Morning News For June 7

Malaysia Morning News For June 7

Malaysia morning news

Upward GDP Revision By World Bank Affirms Malaysia Can Become Developed Nation By 2020
The upward revision of Malaysia’s gross domestic product (GDP) by the World Bank affirmed that Malaysia can achieve its target to become a developed nation by 2020 if the economy continues to register the same rapid growth.
Malaysian Digest

Malaysia to begin tourism tax on Aug 1
Malaysia will begin a tourism tax on Aug 1, the Customs Department announced on Tuesday (June 6).
The Straits Times

Bank Negara approves four fintech firms to operate within ‘regulatory sandbox’
Malaysian central bank and financial sector regulator Bank Negara Malaysia has taken one step further to grow its fintech sector as the central bank approved four firms as participants in “Regulatory Sandbox“ last week.
Deal Street Asia

4 Datuks held for corrupt practices
Four “Datuks” who held top positions in a Telekom cooperative have been held for alleged corrupt practices, The Star Online said.
Free Malaysia Today

Immigration DG issues warning to employers over E-card applications
Director-general of Immigration Datuk Seri Mustafar Ali yesterday warned employers to immediately register their illegal foreign workers to obtain the temporary enforcement card or E-card or face severe enforcement action.
The Borneo Post Online

Air Asia X‘s Direct Flights from Bali Reduce Passengers Going through KL
The number of tourists from China and India has seen huge improvements after e-visa services were made available, said Tourism Malaysia chairman Datuk Dr Siew Ka Wei.
Netral English

Syed Zainol Anwar takes over as new chairman of MAHB
Malaysia Airports Holdings Bhd (MAHB) will see Tan Sri Syed Zainol Anwar Ibni Syed Putra Jamalullail taking over as its new chairman effective today.
The Star Online

Cargo, passenger business to drive airlines’ profitability
Stronger-than-expected demand for cargo and passenger business will boost the profitability of the airline industry this year, said the International Air Transport Association (IATA).
The Borneo Post Online

MASkargo starts new freighter service to meet e-commerce demand
MAB Kargo Sdn Bhd (MASkargo) launched on Tuesday a new express freighter service from Kuala Lumpur to Kota Kinabalu and Kuching.
The Star Online

Trade poised to stay healthy as palm oil aided April’s growth
The palm oil segment supplemented headline exports growth in April as the sector expanded 24.1 per cent and adding a modest 1.9 ppt to growth.
The Borneo Post Online

Palm oil inventories up in May
Malaysia’s monthly palm oil inventories probably rose to the highest level since December as production in the world’s second-largest grower reached a seven-month high.
The Star Online

MRCB eyes more construction projects
Malaysian Resources Corp Bhd (MRCB) is tendering RM6bil worth of construction jobs that are related to civil engineering projects, to beef up its construction segment.
The Star Online

Workshop held to familiarise longhouse folk with ICT
Longhouse folk in Bawang Assan were recently introduced to information and communication technology (ICT) as part of a move to bridge the digital divide between urban and rural communities.
The Borneo Post Online

Bintai Kinden’s subsidiary lands RM75mil contract in Myanmar
Bintai Kinden Corp Bhd’s indirect subsidiary Bintai Kindenko Myanmar Co Ltd has clinched a US$17.5mil (RM74.69mil) sub-contract to carry out works for a luxury residential development project in Yangon, Myanmar.
The Star Online

Declining MGS yields in May makes REITS more appealing
Real estate investment trusts (REITs) are on track to see marginal earnings recovery this financial year, as a decline in Malaysian Government Securities (MGS) yield makes REITs a more attractive investment option.
The Borneo Post Online

Completion of coastal highway primary KPI for IIB
The completion of the RM180mil Coastal Highway Southern Link (CHSL) is the primary key performance indicator for Iskandar Investment Bhd (IIB) this year, said president and chief executive officer Datuk Khairil Anwar Ahmad.
The Star Online

KTC’s network expansion into Sarawak proves successful
Kim Teck Cheong Consolidated Bhd’s (KTC) expansion efforts into Sarawak are proving to be successful as the group’s latest net earnings figures for the first nine months of 2017 (9M17) showed a 98 per cent expansion to RM1.9 million.
The Borneo Post Online

Malaysia’s CIMB teams up with China Galaxy in stockbroking
Malaysian lender CIMB Group Holdings reached a deal with China Galaxy Securities on Tuesday, hoping to attract some of China’s outbound investment.
Nikkei Asian Review (paywall)

 

Feature photo Naim Fadil 
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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