Malaysia Morning News For October 2

Malaysia Morning News For October 2

Malaysia morning newsJohari: Govt has no plans to raise taxes in 2018 Budget
The government is not planning to raise taxes in the 2018 Budget as it will burden the people currently dealing with the higher cost of living, said Second Finance Minister, Datuk Seri Johari Abdul Ghani.
The Borneo Post

Govt increases aid to Sabah entrepreneurs to RM100 million
Entrepreneurs in Sabah stand to gain with the federal government more than doubling its financial assistance through the Perbadanan Usahawan Nasional Berhad (PUNB) from RM48 million to RM100 million next year.
Free Malaysia Today

IRB: No plans to amend Act to allow filing of returns with unaudited accounts
The Inland Revenue Board (IRB) will not be making amendments to the Income Tax Act 1967 to allow companies exempted from audit by Companies Commission of Malaysia (SSM) to file returns using unaudited accounts.
The Sun Daily

Rohingya risk their lives to flee to Malaysia
It was after sunset when Subahan Nurul Haq began the treacherous journey to flee his Myanmar hometown for Malaysia. This was in June last year, when the weather was hot and sticky, but it was the least of the 13-year-old’s concerns.
The Straits Times (paywall)

Government committed to fighting corruption with MACC, Najib says
The government is committed to cooperating with the Malaysian Anti-Corruption Commission (MACC) in combating corruption so that Malaysia’s ranking including in terms of transparency and competitiveness improves, says Prime Minister Datuk Seri Najib Razak.
Malay Mail Online

Thong Guan plans RM650mil 3-fold expansion
The 75-year old packaging firm, Thong Guan Industries Bhd plans to grow its revenue and production capacity by more than three fold in the next 10 years.
The Star Online

Malaysia Shares Ready To Halt Lengthy Slide
The Malaysia stock market has finished lower now in eight straight trading days, sliding almost 30 points or 1.6 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,755-point plateau although it may finally end the losing streak on Monday.
Markets Insider

BPA Malaysia weekly bond market report 1 October 2017
On Tuesday, the US Federal Reserve (US Fed) chair Janet Yellen surprised the market by her hawkish rhetoric on monetary policy that the US Fed should be “wary of moving too gradually” and it would be “imprudent” to leave rates on hold until inflation reaches the target of two per cent. This bolstered the expectations of one more rate hike in year 2017.
The Borneo Post

Ringgit to trade between 4.1268 – 4.2357 today, says AmBank Research
AmBank Research said the ringgit (MYR) is expected to to trade today between 4.2168 which is the research house’ s support level and resistance of 4.2357.
The Edge Markets

M’sia growth forecast upgrade draws mixed views
THE significant upgrade of Malaysia’s economic growth forecast by the Asian Development Bank (ADB) has drawn mixed views, with one saying that it may be premature.
The Star Online

Papua New Guinea’s coffee industry launches pest prevention efforts
External threats such as pest infestation and adverse weather conditions could reduce earnings prospects for Papua New Guinea’s coffee industry this year, despite efforts to improve output and strengthen infrastructure.
The Borneo Post

Market traders want mayor to step in
THE TAMAN Tun Dr Ismail (TTDI) Market Traders’ Association wants Kuala Lumpur mayor Tan Sri Mohd Amin Nordin Abd Aziz and Kuala Lumpur City Hall (DBKL) to intervene over the market’s parking problems.
The Star Online

RGB sees double-digit growth
RGB International Bhd expects to close its fiscal year ending Dec 31, 2017 with a strong double-digit growth in its sales and bottomline over 2016.
The Star Online

RAM Ratings reaffirms AA1/Stable rating of SEB’s sukuk
RAM Ratings has reaffirmed the AA1/Stable rating of SEB’s RM15 billion sukuk Musyarakah Programme (2011/2036).
The Borneo Post

Selangor Dredging plans to refocus on Singaporean property segment
Selangor Dredging Bhd (SDB), which has received shareholders’ approval to dispose of Wisma SDB on Jalan Ampang here for RM480 million, will be refocusing on the Singaporean property segment in the next six to 12 months.
The Sun Daily

New CEO can lead Proton’s global forays — Mustapa
Newly-appointed Perusahaan Otomobil Nasional Sdn Bhd (PONSB) chief executive officer (CEO) Dr Li Chunrong could help spur the national automaker’s global forays, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.
The Borneo Post

Banks loan growth picked up slightly in August, CIMB Research keeps Neutral call
The banking industry’s loan growth picked up slightly from 5.6% year-on-year at end-July 2017 to 5.8% year-on-year at end-August 2017, says CIMB Equities Research.
The Star Online

HSS Engineers to buy water specialist SMHB Engineering for RM270m
HSS Engineers Bhd (HEB) signed a heads of agreement (HoA) last Friday to acquire the entire share capital of SMHB Engineering Sdn Bhd for RM270 million, marking its entry into the water sector.
The Sun Daily

IOI Properties to build 900 townhouses in Bangi and Sepang
Township developer IOI Properties Group Bhd aims to launch a total of about 900 units of townhouses in Bandar Puteri Bangi and Warisan Puteri in Sepang with an indicative price of about RM450,000 in the last quarter of this year or the first quarter of 2018.
The Star Online

Malaysia and Singapore ‘will step up’ Cooperation on the Environment
Environmental issues know no borders. Harm done to natural environments in one area, region, state or country invariably has a way of having its effects felt much farther afield. Polluted air and polluted water can cross manmade boundaries with ease. That’s why effective environmental action requires international cooperation.
Clean Malaysia

Royal call for more opportunities to study English
Permaisuri Johor Raja Zarith Sofiah Sultan Idris Shah has called for concerted efforts to create more opportunities for young people to study the English Language and take their place on the world stage.
Free Malaysia Today

Mahathir Bribed Kit Siang RM1 Billion To Become Pakatan’s Chairman
Mahathir bribed Kit Siang RM1 billion so that he could become Pakatan’s Chairman. Part of that deal was Kit Siang would not spill the beans on the Bank Negara forex scandal and Mukhriz would be given a safe parliament seat to contest in the next general election. RM750 million has been paid thus far and once Mukhriz’s seat is confirmed the balance will be paid.
Malaysia Today

 

Feature photo SpencerWing
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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