Malaysia Morning News For May 15

Unemployment rate drops to 3.4% in March
Malaysia’s unemployment rate for March 2017 dropped to 3.4%, down 0.1 percentage points compared to the previous month, according to the Statistics Department.
– thesundaily

Malaysia issues 2,485 temporary work permits to Chinese nationals in Johor
According to Bernama, the Malaysian Immigration Department has issued 2,485 temporary work permits as well as 1,682 employment and professional visit passes to Chinese employees of four construction projects in Johor, including the Forest City project in Gelang Patah.
– Human Resources Online

Malaysia and China on course to RM700bil trade goal
Malaysia and China can achieve their goal of US$160bil (RM694bil) in bilateral trade in the next two years with continued investments from the Middle Kingdom under its Belt and Road initiative, said Datuk Seri Liow Tiong Lai.
– The Star Online

Malaysia Market May Be Stuck In Neutral
The Malaysia stock market has ticked higher in two straight sessions, collecting almost 10 points or 0.6 percent along the way. The Kuala Lumpur Composite Index remains just above the 1,775-point plateau and the market is looking at another narrow trading range again on Monday.
– Nasdaq / RTT News

UMW-OG bags RM151m contracts from Petronas Carigali
UMW Oil & Gas Corporation Bhd (UMW-OG) has received two contracts from Petronas Carigali Sdn Bhd worth US$34.81mil or RM151.07mil to provide services to its firm and optional wells.
– The Star Online

Poultry based CCK surges to multi-year highs
Poultry company CCK Consolidated Bhd rose to a multi-year high of 86 sen on Monday after CIMB Equities Research has initiated coverage with an Add rating and a 12-month target price of RM1.28.
– The Star Online

Ban on Maid Work in Malaysia Could End Soon, Government Says
Almost six years after Cambodian maids were banned from working in Malaysia, the Labor Ministry says it is speeding up work to finalize a long-delayed plan to lift the restriction and hopes to have details worked out by the end of the month.
– The Cambodian Daily (Paywall)

Why are we practically begging Chinese to develop Bandar Malaysia?
The failure by Najib Razak to secure even any form of non-binding commitment from Dalian Wanda to acquire Bandar Malaysia brings the Ministry of Finance’s plans for the 495 acres of prime land back to square one.
– FMT News

RM300bil more for Belt-Road
China outlined an ambitious plan for the future that will span three continents and see the country pumping in more than 480 billion yuan (RM302bil) in new funds under its Belt and Road initiative.
– The Star Online

EDC targets US$4b deals in 5 years
Export Development Canada (EDC) hopes to facilitate up to US$4 billion (RM17.6 billion) worth of businesses between Malaysian and Canadian companies in the next five years.
– New Straits Times

Leasing option for Malaysia Airlines as demand rises
Malaysia Airlines Bhd will lease a dozen second-hand wide-body aircraft from now till the end of 2019 while waiting for new aircraft deliveries, as it does not have enough capacity to serve nine key routes across Asia.
– The Star Online

Extensive dev’t plan ‘favourable’ to S’wak’s construction sector
Sarawak’s extensive development plan is projected to be favourable to the state’s construction sector, analysts say.
– The Borneo Post

UMW Oil & Gas secures Petronas Carigali jobs
UMW Oil & Gas Corp Bhd (UMWOG) has bagged two contracts with a combined estimated worth of US$34.81 million (about RM151.08 million) from Petronas Carigali Sdn Bhd. UMWOG will provide two jack-up drilling rigs to support Petronas Carigali’s offshore upstream projects.
– The Edge Markets

CNMC Goldmine reports 99% fall in 1Q earnings
CNMC Goldmine reported a 98.8% fall in 1Q17 earnings to US$54,834 (S$776,989) from US$4.6 million a year ago because of the lower ore grades as forewarned in its profit guidance.
– The Edge Markets

China, Malaysia exchange 9 MOUs, agreements
Prime Minister Datuk Seri Najib Razak witnessed the exchange of nine business-to-business (B2B) Memoranda of Understanding and agreements today.
– New Straits Times

Large haul of drugs seized in Thailand, before entering M’sia
Thai police believe 1.2 million pills, 1.1 tonnes of ganja meant to be smuggled into Malaysia from Hatyai, before being sent to a European destination.
– FMT News

AirAsia to launch new Chinese low cost carrier
AirAsia Bhd signed a joint venture agreement with China on Sunday to establish a low cost carrier (LCC), with a base in the east-central city of Zhengzhou.
– The Star Online

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Malaysia morning news is published M-F by AEC News Today: Governance, not government; policies not politics.

Malaysia Morning News For May 15 added by John Le Fevre on May 15, 2017
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.