Malaysia Morning News For September 8

Malaysia Morning News For September 8

Malaysia morning news

Malaysia generates RM12.7 billion with companies based in Kazakhstan,  China and Switzerland in the three-month participation in Astana Expo
2017
Malaysia has generated a total of RM12.7 billion in business leads with companies based in the Republic of Kazakhstan, China and Switzerland in the three-months of its participation in Astana Expo 2017.
— New Straits Times

Malaysia’s trade to hit RM1.5 trillion
Malaysia’s 2017 trade volume is set to surpass the RM1.5 trillion-mark, supported by its strong growth performance this year and steady global demand for electrical and electronics (E&E) products.
— The Star Online

Malaysia has strong Fintech development in Asean — CIMB
Malaysia’s financial technology (fintech) development is strong compared to other Asean countries, said CIMB Group Holdings Bhd’s chief fintech officer, Olivier Crespin.
— The Borneo Post

Malaysia hopes to upgrade trade deal with US during Najib’s visit
The International Trade and Industry Ministry (Miti) hopes an upgraded version of the trade facilitation agreement with the US will be achieved  during Prime Minister Datuk Seri Najib Tun Razak’s upcoming visit to Washington.
— The Star Online

Indonesian pirates who seized oil tanker arrested by Malaysian coast guard
Ten Indonesian pirates who seized an oil tanker off the east coast of the Malay peninsula were arrested by Malaysia’s coast guard on Thursday (Sep 7), officials said.
— Channel News Asia

MMEA vows to make waters off Miri free from foreign fishermen
The Malaysian Maritime Enforcement Agency (MMEA) here has seized
four fishing vessels, fish worth nearly RM9 million and detained 60
Vietnamese fishermen in the last two months.
— The Borneo Post

MALAYSIA SAYS FOILS HIJACKING OF THAI TANKER, 10 PIRATES
ARRESTED
Malaysian authorities thwarted the hijacking of a Thai oil tanker on Thursday and arrested 10 suspected Indonesian pirates on board the ship, a maritime security agency commander said.
— EWN

Better access to rural areas
The Ministry of Transport is in the process of reviewing Rural Air Services (RAS) to improve access to rural and remote areas of Sarawak.
— The Borneo Post

Malaysia central bank holds rates at 3%
Malaysia’s central bank has held pat on its benchmark interest rate, as forecast by economists.
— Financial Times

AEON to open one or two more malls in West Malaysia in three years
AEON Co. (M) Bhd is looking at opening one or two more malls in West Malaysia in the next three years following improved consumer sentiments in retail market in Malaysia since last year.
— The Borneo Post

Malaysia sets up business chamber in Philippines
Malaysia has emerged as the first Asean country to establish a foreign business chamber in the Philippines aimed at cross-promoting the vast opportunities that are yet to be tapped by the two countries.
— The Star Online

Wong: Sarawak must catch up in digital economy
Minister of International Trade and E-Commerce Dato Sri Wong Soon Koh and Deputy State Secretary Datu Ismawi Ismuni had a great time having their first try of cashless payments during the on-going working visit to China.
— The Borneo Post

Malaysia to study logistics and humanitarian needs of refugees fleeing
Rakhine
Malaysia’s army chief Raja Mohd Affandi has been tasked to study the logistics and humanitarian needs of refugees stranded in Bangladesh and Myanmar’s strife-torn state of Rakhine.
— Channel News Asia

PUC unit gets green light to issue e-money
PUC Bhd’s subsidiary has received the green light from Bank Negara to issue electronic money (e-money) via its mobile application, joining a list of more than 20 other non-bank Malaysian entities to be allowed to do so.
— The Star Online

Mercedes Benz Malaysia adds a new dealer partner to its network
Mercedes Benz Malaysia (MBM) adds a new authorised dealer partner, Auto Commerz Sdn Bhd to its network.
— New Straits Times

Malaysia Warns Investors Of Initial Coin Offering Risks
The Securities Commission Malaysia on Thursday warned investors of risks associated with initial coin offerings, joining a wave of regulatory bodies worldwide that are increasing oversight of the new form of digital currency-based capital raising.
— Law 360

Malaysian palm oil price to 26-week high
Malaysian palm oil futures reversed early losses on Thursday, rising more than 1 percent on expectations of positive news from the the European Union’s (EU) decision on biodiesel anti mping duties.
— The Star Online

Malaysia remains upbeat on ‘robust’ PHL economy
Malaysia made a big splash on Wednesday by launching the Malaysian Chamber of Commerce Inc., at the Mariott Hotel. Minister for International Trade and Industry Dato Sri Mustapa Mohamed said that, despite the lingering presence of terrorists in southern Philippines, Kuala Lumpur will aggressively pursue adding more to their businesses in the country.
— Business Mirror

Despite clocking in better results this financial quarter, Malayan Banking
Bhd’s (Maybank) Singaporean operations continued to drag the group’s overall performance as its gross impaired loans (GIL) ratios rose by 91 basis points year over year (y-o-y) to 2.29 per cent in the second quarter of the financial year 2017 (2QFY17).
The Borneo Post

Malaysia Market Likely Rangebound On Friday
The Malaysia stock market has climbed higher in back-to-back sessions, collecting more than a dozen points or 0.7 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,780 point plateau and it figures to hold steady in that neighborhood on Friday.
Nasdaq

AirAsia wins Asean Business Award For Tourism
AirAsia has won this year’s Asean Business Award for Priority Integration Sector – Tourism, which recognises outstanding performance in the Asean priority integration sector of tourism.
The Borneo Post

Subdued corporate earnings growth reflects soft domestic consumption
Corporate earnings growth for the second quarter of the year was
relatively subdued, with few positive surprises, reflecting the soft domestic
consumption environment.
The Star Online

Ideas from 2018 Budget chats to be studied: Najib
All ideas discussed with online friends during chats relating to #Bajet2018 will be studied and considered for the 2018 Budget, said Datuk Seri Najib Abdul Razak.
The Sun Daily

Ringgit to stay healthy vs USD, full year average at 4.33, says Ambank Research
AmBank Research expects the ringgit expected to stay healthy versus the US dollar (USD) with its fair value between 4.12 – 4.15 against the USD, with its full-year average outlook at 4.33.
The Edge Market

Central i-City expected to have 100% occupancy
The operators of the Central i-City shopping centre are confident the mall will have an occupancy rate of 100% by the time it opens its doors in October 2018.
The Star Online

Retail chain association retains 4.5% growth forecast
The Malaysia Retail Chain Association (MRCA) is sticking to its retail growth forecast for Malaysia at 4.5% this year in view of the influx of tourists, despite the challenging retail landscape and other retail groups revising retail growth projection downwards.
The Sun Daily

UST Global Malaysia Inaugurates New Facility in Penang, Malaysia
UST Global, a leading digital technology services company, today announced the opening of a new facility in Penang, Malaysia. This facility will be UST Global’s second centre in Penang.
— Asia One

Analysts optimistic of Affin’s earnings growth sustainability
Analysts believe that Affin Holdings Bhd’s (Affin) transformation, although on-going, have shown to be bearing fruit and they continue to be optimistic of the sustainability of the group’s earnings growth.
The Borneo Post

Malaysia not churning out suitable graduates for innovation, R&D: Professor
Malaysian universities are not producing the type of graduates needed to drive innovation and research and development (R&D), both of which are necessary to move the nation forward.
The Sun Daily

 

Feature photo Phalinn Ooi
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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