Malaysia Morning News For November 17

Malaysia Morning News For November 17

Malaysia morning newsAn upgraded TIFA paves the way for higher economic engagement between the US and Malaysia
An upgraded Trade and Investment Framework Agreement (TIFA) version, to the level of a bilateral free trade agreement, will pave the way for higher economic engagement between the US and Malaysia, said Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan.
— News Straits Times

Top Malaysia fund firm eyes more private investments to cut cash pile
Malaysia’s largest fund management firm Permodalan Nasional Bhd (PNB) plans to boost private investments and fixed income assets starting next year as part of a five-year target to reduce its cash holdings, its top executive said.
— Reuters

Industry 4.0 to surge Japanese FDI in Malaysia
Japanese foreign direct investment (FDI) to Malaysia has been flat in recent times but the Japanese companies here are confident that there will be a surge with Industry 4.0.
— New Straits Times

Malaysia’s E&E paves the way for Industry 4.0
Malaysia’s move into Industry 4.0 as well as the Internet of Things (IoT) technology is only possible because of the existence of its established electrical and electronics (E&E) sector, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
— News Straits Times

Minister: Don’t worry about debris from space station hitting Malaysia
Science, Technology and Innovation Minister Wilfred Madius Tangau says the public need not worry about debris from China’s Tiangong-1 space station falling on Malaysian soil.
— Free Malaysia Today

Malaysian govt to study aphrodisiac claims of durians
The Malaysian government is looking at conducting detailed studies on claims that durians have aphrodisiac value.
— The Straits Times (paywall)

Don’t wait for FTAs, businesses urged to drive the processes: MITI
Businesses must not wait for free trade agreements to materialise before taking the step to exploit opportunities abroad, says International Trade and Industry Ministry secretary general Datuk Seri J. Jayasiri.
— New Straits Times

Malaysia’s Carey Island megaport plan stalls on lower demand
An ambitious plan to build a RM140 billion (S$45.5 billion) mega port on an island off Selangor has been shelved for now by its main promoter, MMC Corp led by Malaysian tycoon Syed Mokhtar Albukhary.
— The Straits Times (paywall)

ET Energy to build 61 MWp solar project in Malaysia
A turnkey EPC agreement has been inked by ET Energy, the global solar project development arm of Chinese PV company ET Solar, alongside its partner Northwest Electric Power Design Institute Co., Ltd. of (NWEPDI) China Power Engineering Consulting Group, and local solar PV developer UiTM Solar Power Sdn. Bhd. to build a 61 MWp utility solar power plant in Malaysia.
— PV-Magazine

Southeast Asia’s largest IKEA store opens in Tebrau, Johor
IKEA Malaysia opened its first store in southern Malaysia on Wednesday – IKEA Tebrau, which is also the largest IKEA store in Southeast Asia.
— New Straits Times

Najib wants SMEs to increase productivity and continue as a driving force for economy
Small and medium enterprises (SMEs) must increase productivity to achieve the target of 41 per cent contribution to the gross domestic product by 2020.
— New Straits Times

Fast Asia Open: Malaysia GDP, Singapore exports
Saudi authorities are negotiating settlements with princes and businessmen held over allegations of corruption, offering deals for the detainees to pay for their freedom, say people briefed on the discussions.
— Financial Times

CIMB Bank to open a branch in the Philippines
CIMB Bank Bhd has received approval from the Monetary Board of the Bangko Sentral ng Pilipinas to operate a branch in the Philippines.
— New Straits Times

Foreign outflows from Malaysia stocks gain momentum
Foreign selling of Malaysia’s stocks accelerated in the past week as the nation’s benchmark equity index fell and the Malaysian ringgit strengthened.
— The Edge Markets

RM500 million businesses sealed
Memorandums of Understanding (MoU) worth about RM500 million were signed at the 6th MARA OISCA International Business Forum (MOIBF2017) which ended on Wednesday.
— The Borneo Post

Axiata to invest US$6m for digital talents development
Axiata Group Bhd is committed to investing US$6 million over the next three years to scale up existing digital expertise and provide critical digital development and capacity building for all its employees across all levels and roles.
— New Straits Times

Redberry, VGI in RM13.2m deal
Redberry Media Group, a wholly owned subsidiary of Ancom Berhad, has inked a Share Sale Agreement with VGI Global Media (Malaysia) Sdn Bhd.
— Malay Mail Online

Singapore, Malaysia stocks fall after Wall Street selloff
Singapore shares fell to three-week lows and Malaysian equities hit their lowest in eight months, tracking overnight losses on Wall Street.
— Nikkei Asian Review

UAE foreign minister in Malaysia for two-day visit
UNITED Arab Emirates (UAE) Foreign Affairs and International Cooperation Minister Sheikh Abdullah Zayed Al Nahyan arrived in Malaysia yesterday for a two-day official visit.
— The Malaysian Insight

Malaysia will not be compromised by close Saudi ties, says deputy minister
MALAYSIA will not be dragged into Middle Eastern conflicts due to its close ties with Saudi Arabia, Deputy Foreign Minister Reezal Merican Naina Merican said today.
— The Malaysian Insight

Malaysian student enrolment in US rises by 5.3pc
The United States (US) has seen a 5.3 per cent increase in the number of Malaysian students enrolled at its colleges and universities during the 2016/2017 academic year. The 2017 Open Doors Report on International Educational Exchange said the number of Malaysian students has risen to 8,247 this year.
— Malay Mail Online

Malaysia to use words instead of colours for weather alerts: Minister
Malaysia’s Met Department will alter the weather warning alert system from colour codes to words to enable the public to better understand the warnings, Science, Technology and Innovation Minister Wilfred Madius Tangau told parliament on Thursday (Nov 16).
— Channel News Asia

 

Feature photo Bernard Spragg. NZ
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 by AEC News Today is your one stop source for Malaysia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

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