Malaysia Morning News For September 26

Malaysia Morning News For September 26

Malaysia morning newsUK export credit agency support for trade with Malaysia doubles to over RM28b
UK’s export credit agency, UK Export Finance (UKEF), has increased the support for bilateral trade with Malaysia by more than double to £5bil (RM28.35bil).
The Star Online

Aviation groups urge governments to optimise industry benefits to catalyse US$2.7 trillion economic activity
Governments have been urged by the International Air Transport Association (IATA) and other international organisations to optimise the aviation industry’s benefits by addressing the sector’s critical infrastructure and resource needs in their national development strategies.
The Edge Markets

Malaysia’s dissent on Myanmar statement reveals cracks in ASEAN facade
Dissent surfaced again in ASEAN after Malaysia disavowed a statement issued by the bloc’s chairman, the Philippines, as misrepresenting “the reality” of an exodus of 430,000 ethnic Rohingya from Myanmar.
Channel News Asia

Malaysia to work with other countries in global crime fight
Malaysia is to enhance its ties with China and other Interpol member states to establish strong cooperation and share experiences in curbing international and trans-border crime, terrorism and cyber crime in an effort to make the world safer.
Astro Awani

Singapore, Malaysia rail operators ink MOU on JB-Woodlands link
Rail operators SMRT and Prasarana Malaysia signed a memorandum of understanding (MOU) yesterday to form a joint venture company to finance, build and operate the Johor Baru-Singapore rail link that will be ready seven years from now.
The Straits Times (paywall)

Malaysians alerted of Mt Agung’s eruption in Bali
The Foreign Ministry confirmed that Indonesian authorities have issued an alert following the volcanic activity at Mount Agung and evacuation of those residing around the affected areas.
The Star Onine

Foreign funds sold RM477.7mil Malaysian equity last week
After three consecutive weeks of foreign inflows, global investors took a breather as they cleared positions ahead of the long weekend.
The Star Online

‘Hidden taxes, forex rules deter German business from Malaysia’
Although German companies still favour Malaysia as a business destination, hidden taxes and foreign exchange (forex) requirements continue to add to costs, the Malaysian-German Chamber of Commerce and Industry (MGCC) said yesterday.
The Edge Markets

Foundpac buys stake in laser stencils manufacturer for RM16.5 million
Foundpac Group Bhd is acquiring a 75% stake in Dynamic Stencil Sdn Bhd (DSSB) for RM16.5 million.
The Sun Daily

Moody’s: Earnings growth shifts down a gear turning outlook on global oil & gas sector stable
An expected slowdown in the pace of earnings growth has moved the 2018 outlook on the global integrated oil and gas industry to stable from positive, according to Moody’s Investors Service.
The Edge Markets

850 SMEs sign up for eTrade programme
The Malaysia External Trade Development Corp (Matrade), which urged small and medium-sized enterprises (SMEs) to take advantage of the free trade agreements (FTAs) that have not been widely utilised, said over 850 SMEs have signed up for the eTrade programme. The programme seeks to accelerate exports via e-commerce.
The Sun Daily

MyCEB and Malaysia Airlines partnership set to continue
The Malaysia Convention & Exhibition Bureau (MyCEB) has renewed its strategic partnership agreement with national carrier Malaysia Airlines for another year, following a positive collaboration that kicked off in 2016.
Cim Magazine

Chin Hin to invest in concrete technology development
Building materials company Chin Hin Group Bhd proposes to acquire a 70% stake in Diva Victory Sdn Bhd for RM2.1 million, to participate in the development of new concrete technology.
The Sun Daily

UOB Malaysia: Online banking users more than doubled over past three years
United Overseas Bank (Malaysia) Bhd (UOB Malaysia) registered a 106 per cent increase in the number of customers using its online banking services in the last three years.
Malay Mail Online

AirAsia, China Everbright rope in Singapore firms for China low-cost carrier
AirAsia Bhd and China Everbright Group have entered into a non-binding term sheet with Singapore Stock Exchange listed Plato Capital Ltd and Oxley Capital Ltd to start a low-cost carrier in China.
The Sun Daily

Golden Palm Growers plantation investment scheme withering?
Golden Palm Growers Bhd’s plantation investment scheme, which allows investors to own oil palm plots without the hassle of becoming a smallholder, appears to be shrivelling, disappointing its investors who have waited more than seven years to reap promised returns.
The Sun Daily

CIMB IB Research upgrades Bison to Hold, target RM2.28
CIMB IB Research has upgraded Bison Consolidated Bhd to “Hold” at RM2.20 with an unchanged target price of RM2.28 and said Bison’s 9MFY10/17 core net profit of RM18.7 million was in line with expectations, at 75% of house and 77% of Bloomberg consensus full-year forecasts.
The Edge Markets

MISC selling stake in Langat tank terminals to partner Dialog for RM193m
MISC Bhd is disposing of a 45% stake in Centralised Terminals Sdn Bhd (CTSB) to its joint venture partner Dialog Group Bhd for RM193 million.
The Sun Daily

ERL partners AirAsia to offer special fare
Express Rail Link Sdn Bhd (ERL) has partnered AirAsia to offer a special KLIA Ekspres train fare of RM48 for one-way and RM88 for a return trip for airline passengers, from Sept 21.
The Star Online

Berjaya Land makes RM11.5 million net profit for Q1
Berjaya Land Bhd (BLand) saw a net profit of RM11.53 million in the first quarter ended July 31, 2017 from a net loss of RM27.24 million a year ago, on higher profit contribution from lower prize payout at Sport Toto Malaysia Sdn Bhd, property and hotels and resorts businesses arising from higher revenue, and lower finance costs.
The Sun Daily

Illegal 25-stick packs have entered the market, says coffeeshop proprietors body
As the debate continues as to whether 10-stick packs of cigarettes should be reintroduced in the country, illegal cigarette manufacturers and traders have introduced a larger alternative — 25-stick packs in the market compared with the legislated 20-stick ones.
The Edge Markets

Malaysia urged to protect its tradition of tolerance
UN expert urges Malaysia to protect its tradition of tolerance from the rise of fundamentalism
Scoop World

Force India set for aero, engine upgrade in Malaysia
Force India is planning further aero upgrades, as well as a move to the latest Mercedes power unit, for this weekend’s Malaysian Grand Prix.
Motorsport

 

Feature photo Sitoo
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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