Malaysia Morning News For April 26

Malaysia Morning News For April 26

Malaysia morning newsCIMB offers zero-fee online fund transfers
CIMB Bank Bhd is offering zero-fee interbank fund transfers via its CIMB Clicks (www.cimbclicks.com.my) and CIMB EVA mobile banking apps to its customers, regardless of the transaction amount, as part of its effort to drive the usage of digital payments.
— New Straits Times

Najib Predicts He’ll Extend Grip on Power in Malaysia Election
Five years after leading his party to its narrowest victory yet, Malaysia’s Prime Minister Najib Razak says he’s expecting a “better result” in an election that will pit him against his one-time mentor.
— Bloomberg

Petronas and TM embark on cross-industry digital collaboration
Petroliam Nasional Berhad (Petronas) and Telekom Malaysia Bhd (TM) have inked a Memorandum of Understanding (MoU) to collaborate on a strategic partnership that will see both companies provide significant benefits spanning multiple areas of co-operation.
— New Straits Times

Malaysia looks to cut back on poultry feed imports
Malaysia needs to produce its own feed ingredients for the livestock industry to remain self-sufficient, while reducing dependency on imported agricultural products, says its agriculture minister.
— Feed Navigator

 

New Bt37-billion motorway in South planned to boost trade with Malaysia
THAILAND plans to build a 62km motorway in the southern province of Songkhla to the border with Malaysia in a bid to boost bilateral trade and cross-border tourism that is currently worth an estimated Bt500 billion per year, Transport Minister Arkhom Termpitayapaisit said yesterday.
— The Nation

Petronas Dagangan plans about $76.6 million capital spending
Petronas Dagangan, the retailing arm of Malaysia’s national oil-and-gas company Petroliam Nasional, plans to trim capital expenditure and spend up to 300 million ringgit ($76.6 million) this year, its chief executive said Wednesday.
— Nikkei Asian Review

RHB aims for 6% loan growth this year
RHB Bank Bhd is aiming for a loan growth of 6% this year, compared with 3.7% last year, driven by mortgage, SME and its Singapore business, said group managing director Datuk Khairussaleh Ramli.
— The Sun Daily

Chinese FDI in Malaysia: A blessing, curse or opportunity?
AS WE draw near the 14th General Election (GE14), the echo over Chinese investment in Malaysia is rising.
— The Malaysian Reserve

Hap Seng to buy Mercedes-Benz’s commercial vehicle wholesale distribution business in Malaysia
Hap Seng Consolidated Bhd is acquiring from Mercedes-Benz Malaysia Sdn Bhd (MBM) its commercial vehicle general distributorship business, paving the way for Hap Seng to become the sole general distributor of Mercedes-Benz and Fuso commercial vehicles in Malaysia.
— The Edge Markets

How palm oil ban has made the EU a dirty word in Malaysia
In the small farming settlement of Palong in rural Malaysia, the EU is a dirty word. A few months ago, these men – mostly in their sixties, their skin brown and weathered from years working the land – had never even heard of the European parliament: but now their livelihoods are at risk because of it.
— The Guardian

SuperCharger opens up second Malaysia programme to international startups
FOLLOWING the success of its first accelerator programme in 2017, SuperCharger Malaysia is now inviting applications from international fintech companies to participate in SuperCharger Kuala Lumpur 2018 – a no equity, 12-week programme aimed at helping promising fintech startups to establish and scale their business in Malaysia and beyond.
— Digital News Asia

PRG eyes luxury fashion apparel business
PRG Holdings Bhd is set to venture into the luxury fashion apparel business through its 75%-owned subsidiary Furniweb Holdings Ltd.
— The Edge Markets

KL Kepong to buy 95pc stake in Indonesian oil palm planter
Kuala Lumpur Kepong Bhd (KLK) is acquiring a 95 per cent stake in Indonesia’s PT Putra Bongan Jaya (PBJ) from PT REA Kaltim Plantations for RM296.4 million.
— New Straits Times

Public Bank wins big at Malaysian e-Payments Excellence Awards
Public Bank Berhad (PBB) was once again an outstanding performer at the Malaysian e-Payments Excellence Awards (MEEA) held in Kuala Lumpur recently on April 11.
— The Borneo Post

Worst over for Unisem after stock falls 18%
Unisem (M) Bhd, which has emerged as one of the biggest victims of the strong ringgit with its share price tumbling as much as 19.8% today, does not foresee more forex losses in the coming quarters, according to chairman and managing director John Chia Sin Tet.
— The Sun Daily

Takaful Malaysia’s industry premium growth to outpace conventional insurance
Analysts are generally positive on the outlook for Syarikat Takaful Malaysia Bhd (Takaful Malaysia), with projections that the growth momentum of the group’s industry premium will outpace the conventional insurance while others believe that the group will be able to expand its foothold in the takaful market.
— The Borneo Post

Malaysia Bourse May Find Traction On Thursday
The Malaysia stock market has tracked lower in four consecutive sessions, sliding almost 40 points or 2 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,850-point plateau although it may stop the bleeding on Thursday.
— Markets Insider

‘Eat X Dignity’ programme launched
Berjaya Cares Foundation and Dignity for Children Foundation (DCF) today officially launched a social transformation enterprise known as “Eat X Dignity”, a platform that trains underprivileged youths and children in employable and entrepreneurial skills in the food and beverage industry.
— The Sun Daily

Joint Indian-Malaysian defence exercise from April 30
Joint training exercise Harimau Shakti, which is a part of ongoing Indian-Malaysian defence cooperation, will be conducted in the dense forests of Malaysia’s Sengai Perdik from April 30 to May 13, said a defence statement.
— Business Standard

 

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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 recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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