Malaysia Morning News For September 19

Malaysia Morning News For September 19

Malaysia morning news

Malaysia Stock Market May Find Renewed Strength
The Malaysia stock market turned lower again on Monday, one session after it had ended the two-day slide in which it had fallen more than 8 points or 0.4 percent. The Kuala Lumpur Composite Index now rests just beneath the 1,785-point plateau although it may bounce higher again on Tuesday.
— Nasdaq

Malayia’s August inflation rate to rise to 3.8 per cent
RAM Ratings expects the August 2017 inflation rate to increase to 3.8 per cent, following four consecutive months of declines.
— The Borneo Post

Online shopping sites among digital services to be taxed in Malaysia
Foreign digital service providers will soon be taxed for their services in Malaysia as authorities look to amend several tax laws.
— Today Online

IRB starts civil action against companies with RM728m in unpaid taxes
The Inland Revenue Board (IRB) is taking civil action against companies that still have not paid taxes despite having been audited and investigated previously.
— The Sun Daily

Malaysian palm oil price has biggest fall in a month as rival oils weaken
Malaysian palm oil futures had their sharpest daily fall in a month late on Monday, marking their third straight session of losses, tracking weakness in related edible oils and as a stronger ringgit weighed on the market.
— The Star Online

Honda invests RM1.1bil, to add 300 jobs for new Accord model
Honda Motor Co Ltd said on Monday its has invested US$267mil (RM1.12bil) and will add 300 new jobs to support increased production of its revamped 2018 Accord sedan model at the Japanese automaker’s plant in Marysville, Ohio.
— The Star Online

RM6b Petronas deals unlikely to be catalysts for oil & gas sector: AmBank Research
AmBank Research is of view that a reported RM6 billion maintenance, construction and modification (MCM) contracts rollout by Petroliam Nasional Bhd (Petronas) is unlikely to work as a catalyst for the oil and gas sector, maintaining the sector’s neutral call.
— The Sun Daily

Malaysian entrepreneurs head to China to aggressively promote Malaysian craftwork and food
Up to 20 local entrepreneurs from the East Coast Economic Region (ECER) showcased their products at the 14th China-Asean Expo (CAEXPO) 2017 in Nanning, China, in the hopes of tapping into regional demand for Malaysia’s arts and crafts as well as traditional food products.
— The Star Online

Malaysia will manage trade surplus issue with the US: Mustapa
Malaysia is able to manage the trade surplus issue over the US, which is partly due to indirect trade, said Minister of International Trade & Industry Datuk Seri Mustapa Mohamed, and will look at ways to increase mutually beneficial trade with the US.
— The Sun Daily

UK companies to explore business opportunities in Johor
Over 40 high-end technology-based companies from the United Kingdom (UK) will visit Johor next month to explore business opportunities within the state and beyond the region.
— The Borneo Post

Matrade urges Malaysian private label manufacturers to export to India
The Malaysia External Trade Development Corporation (Matrade) has urged more Malaysian private label manufacturers to leverage on the growth of private labels and store brands in India by exporting to the country.
— The Malay Mail Online

All set for culinary trade exhibition
THE biennial Food and Hotel Malaysia (FHM) 2017 international trade exhibition returns for its14th edition, and is set to be the biggest one yet.
— The Star Online

Rising ringgit a good sign for Berjaya Food’s margins
The recent strengthening of the ringgit should have a healthy effect on Berjaya Food Bhd’s (Berjaya Food) margins as the group’s cost of goods sold (COGS) in their Starbucks operations are heavily denominated in US dollar.
— The Borneo Post

Malaysia and Indonesia are growth areas for FX: Confidence in local banks is low, and great for Western brokerages
Malaysia’s finance minister looks back over 30 years to a period at which he refers to Bank Negra’s FX trading abilities as “rubbish.” This is very good news for overseas firms wanting to penetrate the market, here is why.
— Financial Feeds

Malaysia’s Axiata unit to rely more on debt to fund growth
edotco could raise gross debt to 3.5% of ebidta from below 2.5% now, CEO says
— Nikkei Asian Review

Celcom Axiata launches high-speed fibre Internet services
Celcom Axiata Bhd yesterday launched its two newest high-speed fibre Internet connection services in Sabah – the Celcom Home Fibre and Celcom Business Fibre.
— The Borneo Post

Wearable tech to continue recording double-digit growth
The International Data Corporation (IDC) expects the popularity of wrist-worn devices – including watches and wrist bands – will continue to drive the wearables market forward, while lesser-known wearable products, such as clothing and earwear, will experience market-beating growth in the years to come.
— The Borneo Post

T7 Global clinches two contracts, Australian investment strikes oil
T7 Global Bhd has bagged two contracts for a combined sum of RM7.2 million, and seen its Australian investment, under Triangle Energy (Global) Ltd, hit oil in the Perth Basin.
— The Sun Daily

Hap Seng Plantation’s FFB output to be flat in FY17F
Hap Seng Plantations Holdings Bhd (HSP) fresh fruit bunch (FFB) output is expected by the group to be flat during the financial year 2017 forecast (FY17F), while analysts are not expecting significant earnings impact from the new accounting standard in FY18F.
— The Borneo Post

PM: Govt to ensure lower income Malaysians own homes
Prime Minister Datuk Seri Najib Razak said the government always endeavoured to ensure that every Malaysian including the less affordable groups could afford to have their own home.
— Malay Mail Online

Malaysian ex-PM Mahathir slams ‘vindictive’ Bank Negara forex probe
Malaysia’s former leader Mahathir Mohamad said Monday (Sep 18) an inquiry into losses by the central bank in the 1990s was a “vindictive” attempt to target him and deflect attention from a scandal embroiling the current government.
— Channel NewsAsia

Question of inheritance tax resurfaces in Malaysia
TALK of a new tax called the inheritance tax being introduced in Budget 2018 surfaced a week or two ago
— The Edge Markets

Customs dept to be corporatised by Jan
The Customs Department may be corporatised by January next year, after a delay due to implementation of the Goods and Services Tax (GST), said Treasury Secretary General, Tan Sri Dr Mohd Irwan Serigar Abdullah.
— The Borneo Post

Malaysia suspends three Australian beef and sheepmeat exporters
THREE Australian beef and sheepmeat exporters have been temporarily suspended from Malaysia.
— Weekly Times

Malaysia unemployment rate to stay around 3.3% – 3.4% by end-2017, says AmBank Research
AmBank Research expects Malaysia’s unemployment rate to stay around 3.3% – 3.4% by end-2017 from 3.5% in 2016.
— The Edge Markets

Mida sees 7,000 job creation at job fair
The Malaysian Investment Development Authority (Mida) expects to create more than 7,000 job opportunities through its ‘Mida Open Day’ today.
— New Straits Times

294,000 Malaysians bankrupt, says insolvency dept chief
A total of 294,000 Malaysians are currently embroiled in bankruptcy cases due to their failure to settle hire purchase loans, credit card loans, personal loans, housing loans and social guarantor debts (due to errant debtors), says insolvency department director-general Abdul Rahman Putra Taha.
— Free Malaysia Today

US, Malaysia Commence Bilateral Maritime Exercise
The U.S. and Royal Malaysian Navy kicked off Maritime Training Activity (MTA) Malaysia at Lumut Naval Base, Sept. 18-26.
— Dvids

 

Feature photo chinsoontan
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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