Malaysia Morning News For May 23

Malaysia Morning News For May 23

Malaysia morning news

‘FDI this year to exceed last year’s RM41 billion’
The value of foreign direct investment (FDI) in Malaysia this year is expected to surpass last year’s RM41 billion despite the challenging economic climate, Najib Razak said.
– FMT/ Bernama

Selangor contributed nearly half of new jobs in Malaysia from 2014-2016
-Selangor’s 305,300 new jobs from 2014 to 2016 represented nearly half of Malaysia’s total employment gains from the period, official data by the Department of Statistics showed.
– Malay Mail Online

Economists upgrade Malaysia’s GDP growth forecasts after strong Q1
Several economists have revised upwards their forecasts for Malaysia’s 2017 economic growth, given the strong start to the year.
– The Sun Daily

YTL uses 4G to “leapfrog” region
Malaysian mobile operator YTL plans to speed up the pace of digital innovation as it challenges incumbents in its home market, says the company’s CEO Wing K Lee.

The Star Media Group looks beyond print to add on revenue
Most recently, the Star Media Group sold 52.51% stake in Cityneon Holdings for SG$115.61 million or RM360.18 million cash to investment holding company, Lucrum 1 Investment. This deal is expected to allow Star Media Group to realise a gain on disposal of about SG$68.71 million or RM214.07 million.

Matrix Concepts proposes RM250m sukuk programme
Matrix Concepts Holdings Bhd yesterday lodged with the Securities Commission Malaysia its proposed issuance of Islamic commercial papers and medium-term notes to establish a RM250 million sukuk wakalah programme.
– The Sun Daily

Khairy ‘proud’ Malaysian brands being recognised globally
The Kuala Lumpur SEA Games this year will be featuring multiple Malaysian brands that are internationally recognised, Khairy Jamaluddin said today.
– Malay Mail Online

10 Companies Voted As The Best Places To Work In M’sia—And It Ain’t Just About The $$$
Previously, we discussed the topic regarding reasons why people would choose to stay in a job and we found out that despite popular belief, salary was not the main priority for many employees.
– Vulcan Post

Mahathir: Income tax dept going after Pakatan supporters
The tax season has seen the Inland Revenue Board (LHDN) pay particular attention to individuals and organisations said to be supporters of opposition parties, claims Dr Mahathir Mohamad.

Report: Malaysia one of the best capital markets but…
Malaysia is one of the most developed capital markets among emerging economies in the McKinsey Asian Capital Markets Development Index.

Acquisition of two factories positive for Top Glove
Maintain outperform call with a target price (TP) of RM6.11: In an announcement to Bursa Malaysia, Top Glove Corp Bhd revealed that wholly-owned GMP Medicare Sdn Bhd had entered into two separate sale and purchase agreements to acquire the following two rubber glove assets: a factory (43,300 sq m in land size) erected on freehold land in Seremban with machinery, equipment and fixture and fittings (RM31.5 million) (versus the independent valuer’s RM50.5 million), and another factory (7,700 sq m in land size) erected on leasehold land in Muar, Johor, together with machinery, equipment and fixture and fittings (RM7.5 million) (versus independent valuer’s RM10.2 million).
– The Edge Markets

Bank Negara red-flags another two money schemes
Another two popular financial schemes – run by MBI International Sdn Bhd and Mface International Sdn Bhd – have been red-flagged by Bank Negara Malaysia (BNM).

Two more schemes red-flagged
Two more popular financial schemes in Penang have been red-flagged by Bank Negara Malaysia (BNM).
– The Star Online

Mcoin, proponents added to Bank Negara’s alert list
MFace International Sdn Bhd and its parent MBI International Sdn Bhd, the proponents of the well-known digital currency Mcoin based in Penang, is now on the Financial Consumer Alert List by Bank Negara Malaysia (BNM) due to “unlicensed activities undertaken”.
– The Sun Daily

MBI, Mface placed on Bank Negara’s financial alerts
MBI International Sdn Bhd and Mface International have been placed on Bank Negara Malaysia’s (BNM) alert list with effect from Monday for unlicensed activities.
– The Star Online

How technology could impact 65% of Malaysia’s current jobs
The increasing use of technological advancements could see Malaysia lose 65% of current jobs by 2027, said Minister in the Prime Minister’s Department Datuk Seri Abdul Rahman Dahlan, as reported in The Sun Daily.
– HumanResourcesOnline

Customs: GST is good, no need to do away with it
The customs department says critics of the goods and services tax (GST) must adopt a more holistic view of the tax in the wake of PKR’s Wong Chen saying the GST could be abolished.

Wing Tai Holdings launches S$94m takeover bid for Malaysian-listed counterpart
SINGAPORE-LISTED Wing Tai Holdings launched a RM290 million (S$94 million) takeover offer on Tuesday for its Malaysian-listed counterpart Wing Tai Malaysia Berhad (WTM) at RM1.80 cash per share.
– The Business Times

AmBank bags three awards at the MEEA
AmBank Group won three awards at the Malaysian e-Payments Excellence Awards (MEEA) 2017.
– The Star Online

Magnum shares down on a mixture of bad news
A mixture of bad news – comprising its poorer-than-expected results, a potentially fat tax bill of RM476.4mil and no interim dividends – continued to weigh down on the share price of Magnum Bhd.
– The Star Online

Main contractor of KL Eco City charged over bridge collapse
The main contractor of the KL Eco City development in Bangsar has been charged with safety negligence in the collapse of a link bridge last November that caused the death of a site worker.

Malaysian man stranded in Cambodia 24 years comes home
A Malaysian man who was stranded in Cambodia for 24 years has finally returned home, arriving in Kota Kinabalu at 11:30am yesterday.
– Coconuts KL


Feature photo Phalinn Ooi
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).


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




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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.

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