Malaysia Morning News For May 4

Malaysia Morning News For May 4

Malaysia morning news

BNM: Islamic banks no longer required to keep reserve fund
Bank Negara Malaysia (BNM) announced that Islamic banks are no longer required to maintain a reserve fund effective May 3.
The Star Online

Malaysia’s US$1.7 billion property deal to cut 1MDB debt falls through
A US$1.7 billion property deal that was expected to ease the debt burden of Malaysian state fund 1Malaysia Development Berhad (1MDB) fell through on Wednesday (May 3), complicating Prime Minister Najib Razak’s efforts to move on from a financial scandal surrounding the fund.
Channel NewsAsia

More young investors entering into Malaysian market
Younger investors are entering the market in larger numbers, with Bursa Malaysia revealing a 36% jump in the number of Central Depository System (CDS) account holders aged 25 years and below.
The Star Online

Bandar Malaysia to get new master developer
Bandar Malaysia, a massive undertaking here with an estimated gross development value of RM150 billion, will have a new master developer.
New Straits Times

M’sia, Kazakhstan forging stronger economic partnership
Malaysia and Kazakhstan plan to further strengthen bilateral economic ties after both countries saw an over 30 per cent increase in two-way trade last year.
New Straits Times

Property deal of former 1MDB unit with China-Malaysia group lapses
A deal by a former unit of troubled state fund 1Malaysia Development Berhad (1MDB) to sell its stake in a property development project to a consortium including China’s state-owned China Railway Engineering Corporation (CREC) has lapsed.
Deal Street Asia

Malaysian state of Malacca to be called Melaka from now on
The Melaka state government on Wednesday (May 3) announced that the name “Malacca” for the state, commonly used in English, will cease to be used and instead be replaced with the name Melaka.
Channel NewsAsia

Axiata to lease capacity on IPSTAR-1 for Indonesia
Malaysia’s Axiata Group has signed a four-year agreement to lease capacity over Thaicom’s IPSTAR-1 satellite for the provision of broadband services in Indonesia.
Telecomasia.net

DBKL moves against foreign traders
A bold move by City Hall to introduce new guidelines for foreign owned businesses in the city is expected to draw more high-end foreign businesses to operate in the city centre.
Malay Mail Online

Report: Prasarana firm GM, wife held over RM500,000 graft
A general manager of a Prasarana firm in charge of overseeing technical support for a bus complex here has been detained for allegedly taking half a million ringgit for personal gain.
Malay Mail Online

MoF calls off Bandar Malaysia deal
The prime movers of the development of Bandar Malaysia, the consortium called ICSB comprising Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC), have found themselves out of the deal to develop the choicest piece of land in the city.
The Star Online

TNB takes control of Track 4A
Hong Leong Investment Bank Research believes Tenaga Nasional Bhd (TNB) becoming the controlling shareholder of project Track 4A will serve as the best available choice in order to ensure power security over the longer term.
The Star Online

Ringgit opens lower on mild profit taking
The ringgit retreated from yesterday’s gains to open marginally lower against the US dollar today on mild profit taking, dealers said.
New Straits Times

I-Bhd expects revenue of RM500 million this year
I-Bhd is confident of generating RM500 million in revenue this year, up from RM383.6 million in 2016.
New Straits Times

Malaysia, Singapore once again top Muslim travel index
Malaysia and Singapore have topped the list of Organisation of Islamic Cooperation (OIC) and non-OIC markets respectively for the third consecutive year, according to the Mastercard-CrescentRating Global Muslim Travel Index (GMTI) 2017.
TTG Asia

Najib: Loyalty, moderation and understanding key to ensuring country’s progress
The three intertwined principles of Wala’ (loyalty), Wasatiyyah (moderation) and Tabayyun (understanding) if practised properly, will embody a perfect cycle between the leaders and those being led for the survival of a nation that craves progress and ultimate success according to Islamic interpretation, said Prime Minister Datuk Seri Najib Tun Razak.
Malay Mail Online

Lazada CEO: While online sales grows, most shopping is still done in stores
In the last five years, the typical Malaysian online shopper has “transformed” from a young urban male to a family man. Or woman.
Malay Mail Online

 

Feature photo Zashnain Zainal
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Vat Vin

Vat Vin

Vat Vin graduated from the University of Cambodia with a major in Economics. He previously worked as a business writer and journalist at Business Cambodia and as a copy writer at The Source and Solution Group before joining AEC News Today.
Vat Vin

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