Malaysia Morning News For April 13

Malaysia Morning News For April 13
Estimated Reading Time: 5 minutes |

Malaysia morning newsWorld Bank lifts Malaysia’s 2018 economic growth aim to 5.4%
The World Bank raised its forecast for Malaysia’s 2018 economic growth to 5.4% from October’s 5.0% projection but warned risks from shifts in external demand and financial market conditions could hurt prospects of the trade-reliant country.
— Nikkie Asian Review

Malaysians raise RM65,000 to bring voters home on Election Day
A group on social media helping outstation Malaysians who cannot afford to return home to vote has raised more than RM65,000 as of yesterday.
— Malay Mail

Bank Negara plans minimum standards for mobile payments, more safeguards
Bank Negara Malaysia will introduce minimum standards for the nascent but growing area of mobile payments and it will also ensure greater transparency and safeguards.
— The Star Online

Here to buy bitcoin, Malaysian man is robbed of $365k instead
Mr Pang Joon Hau, believed to be in his 20s, had come to Singapore to purchase bitcoins and contacted a Singaporean broker.
— The New Paper

AmBank out to ‘Uberise’ banking
AMMB Holdings Bhd’s (AmBank Group) digitalisation push will not only see the group possibly come up with new revenue streams by “Uberising” banking, but also help it maintain its physical presence by reducing the number of people needed to man its branches.
— The Sun Daily

Farouk sells his Impiana hotel business to Bio Osmo in RM426mil reverse takeover deal
Datuk Seri Farouk Abdullah, who emerged as a substantial shareholder in Bio Osmo Bhd in April last year, is injecting his Impiana hotel business in Malaysia into the loss making company in a bid to turn it around.
— The Star Online

Bio Osmo proposes to acquire six hospitality companies
Drinking water company Bio Osmo Bhd proposes to acquire six companies for a total of RM425.9 million to expand its existing hospitality business.
— The Sun Daily

Malaysia shares rise amid optimism over economic growth
Malaysian stocks rose Thursday, buoyed by optimism surrounding Southeast Asia’s third-largest economy. Singapore shares declined, tracking Wall Street’s overnight losses amid geopolitical tensions involving the U.S. and Syria.
— Nikkie Asian Review

Maybank sees minor impact from US-China trade spat
Malayan Banking Bhd (Maybank Group) does not expect to be deeply impacted by the ongoing trade spat between China and the US, as its exposure to trade in Asia’s largest economy is only three per cent.
— New Straits Times

New tech and old loyalties mash up a historic contest
Kampung Tok Senik is a leafy wooden-hut resort in the middle of Langkawi island, off the north-west coast of Peninsular Malaysia.
— New Mandala

Kerjaya Prospek secures RM357.30m contract for mixed development in KL Golden Triangle
Kerjaya Prospek Group Bhd’s subsidiary Kerjaya Prospek (M) Sdn Bhd has bagged a RM357.30 million contract from BBCC Development Sdn Bhd (BBCC) for the proposed of mixed development in Kuala Lumpur.
— New Straits Times

Malaysia promotes first “traceable” refrigerated durian products
The Malaysia-Chinese Association “One Belt, One Road” Center organised an introductory ceremony for Malaysia’s first “traceable” refrigerated durian in Kuala Lumpur on April 6th.
— Fresh Plaza

Astro seals agreement with MEASAT Global for a RM87.2m fee
Astro Malaysia Holdings Bhd’s subsidiary MEASAT Broadcast Network Systems Sdn Bhd (MBNS) has inked an agreement with MEASAT Global Bhd’s unit, MEASAT International (South Asia) Ltd (MISAL) for the utilisation of transponder capacity on the MEASAT-3b satellite for a fee of US$22.5 million (RM87.2 million).
— New Straits Times

Malaysian Enterprises amongst the most advanced in Southeast Asia in Implementing Digital Transformation Strategies
Senior Information and Operations Technology professionals from local enterprises and government agencies will gather at the 21st Edition of Asia IoT Business Platform, being held at the Hotel Istana Kuala Lumpur on 23rd & 24th April 2018.
— AsiaOne

Mi Equipment gets nod to list on Main Market
Mi Equipment Holdings Bhd, an equipment manufacturer of wafer level chip scale packaging (WLCSP) sorting machines for the semiconductor industry, has received the nod from the Securities Commission Malaysia for its initial public offering (IPO) and listing on the Main Market of Bursa Malaysia.
— The Star Online

Malakoff’s TJSB secures 21-Year contract for Solar Plant O&M
Malakoff Corp Bhd’s subsidiary Teknik Janakuasa Sdn Bhd (TJSB) has secured an operation and maintenance (O&M) contract with a large scale solar photovoltaic power plant (LSS) with a capacity of 29MWac in Kota Tinggi, Johor.
— New Straits Times

Nigeria, Malaysia establish special trade corridor
The Nigeria-Malaysia Business Council has collaborated with the Nigeria Export Promotion Council and the Malaysia Department of Trade to set up a special trade corridor that will enable Malaysian businesses and Nigerian farmers and exporters to collaborate with a view to adding quality to goods exported from Nigeria to Malaysia.
— Punch

Boustead Plantations shareholders approve buy of Dutaland’s oil palm estates
Boustead Plantations Bhd (BPB) has obtained shareholders approval today the purchase of oil palm estates purchase in Sandakan from Dutaland Bhd for RM750 million.
— New Straits Times

Partnerships to drive sales of halal items
Thai partnerships with Malaysian food producers will generate 200 million baht in 2018, 74% more than last year, according to the National Food Institute (NFI).
— Bangkok Post

Bank Negara adds two more websites to alert list
Bank Negara Malaysia has updated its financial consumer alert list with the addition of Financial.org Malaysia and Time Travel & Explorer Sdn Bhd.
— The Star Online

Mercedes-Benz Malaysia 1Q sales up 13.2%
Mercedes-Benz Malaysia’s (MBM) sales for the first quarter of 2018 (1Q18) rose by 13.2 per cent growth to 3,335 vehicles compared with the same quarter last year (1Q17).
— The Star Online

 

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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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Sreypov Men

junior writer/ trainee journalist at AEC News Today
Sreypov Men is currently a senior student at Institute of Foreign Languages where she is majoring in International Relations. She commenced as an intern and was appointed as a junior writer/ trainee journalist on April 2, 2018

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