Malaysia Morning News For April 27

Malaysia Morning News For April 27

Malaysia morning newsMalaysian economy to grow with oil revenue
Oil prices which recently hit 3.5 year high at 74 U.S. dollars per barrel, is expected to boost Malaysia’s economy growth and government coffer, said analysts Thursday.
— News Ghana

PM Najib expects ‘better results’ this election
FIVE years after leading his party to its narrowest victory yet, Malaysian Prime Minister Najib Razak says he’s expecting a “better result” in an election that will pit him against his one-time mentor.
— Business Times

‘Automotive industry transformation will continue if BN gets mandate’
The government under the administration of Barisan Nasional (BN) will continue to support the transformation of the automotive industry to achieve future mobility needs if given the mandate to helm the government administration, said Datuk Seri Najib Tun Razak.
— The Borneo Post

CIMB on track to exceed T18 targets, says chairman
CIMB Group Holdings Bhd says it is on track to exceed its T18 targets by year-end as it believes the bank is in “better shape” after underwent recalibration three years ago.
— The Malaysian Reserve

Ringgit extends losses, seen to continue trading ‘defensively’
The ringgit extended losses from yesterday to be lower against the US dollar early Thursday, as the greenback continues to strengthen on the back of rising US bond yields.
— The Star Online

Malaysia’s election a de facto vote on China
When Malaysians head to the polls on May 9, their choice will also determine the nation’s future relations with China.
— Asia Times

Nestle Malaysia hopeful to achieve RM400m sales from new products in 2018
Nestle (Malaysia) Bhd is confident of securing RM400 million in sales this year backed by new products launches.
— New Straits Times

Broad selling across Bursa Malaysia, KLCI down 13 points
Bursa Malaysia ended the day in the red on Wednesday with selling pressure seen across the board in line with the weak performance of its regional peers.
— The Star Online

HSBC: Malaysia has been growing above its potential for the past 4 years
Malaysia has been growing above its potential for the past four years and such expects the country’s medium-term potential growth to be at between four to 4.2 per cent.
— New Straits Times

Malaysia a clear-cut winner if oil price rally continues, says Nomura
Saudi Arabia, Nigeria, Colombia and Malaysia are the clear cut winners if the recent oil price rise continues and is more supply-side driven, says Nomura Global Markets Research.
— The Star Online

DHL invests RM11m for Johor logistics centre
DHL Express (M) Sdn Bhd will invest RM11 million for its gateway and service centre in Johor to boost its logistics capabilities in Malaysia and support global needs.
— The Malaysian Reserve

No immediate impact from solar power plant delays: MARC
The Malaysian Rating Corp Bhd (MARC) sees no immediate impact on Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) AA-IS/Stable rating on its RM1 billion Green SRI Sukuk (sukuk) following delays in commercial operation dates (COD) for its three solar power plants.
— The Sun Daily

Zurich Mulls Options for Malaysia Business
Zurich Insurance is mulling options for its Malaysian life insurance unit in order to comply with a local cap on foreign ownership. One option is to sell a stake through an initial public offering.
— FiNews

Bank Negara appoints two new AGs
Bank Negara has appointed two new assistant governors, Nazrul Hisyam Mohd Noh and Tan Nyat Chuan, with effect from May 1.
— The Star Online

Protasco bags RM92m contract
Protasco Bhd’s sub-subsidiary I2 Solarpark One Sdn Bhd has received an offer from the Energy Commission of Malaysia to develop the 6.80MW a.c Large Scale Solar Photovoltaic at Mukim Sungei Baru Tengah, Alor Gajah, Melaka.
— The Malaysian Reserve

FIM 2018 records potential franchise transaction value of RM410m
Franchise International Malaysia 2018 (FIM 2018) has recorded a potential transaction value of RM410 million, an increase of more than ten percent as compared to the previous year with RM373 million.
— New Straits Times

TM allocates up to 30% of revenue for capex
Telekom Malaysia Bhd (TM) is allocating up to 30% of revenue for capital expenditure (capex) this year.
— The Sun Daily

‘Trade colonialism’ by China a bigger worry, says economist
Trade colonialism as a result of increased investment by Chinese companies is a bigger worry for Malaysia than possible falls in exports to China, according to an economist.
— Free Malaysia Today

PPB buys stake in property firm from LTAT for RM59m
PPB Group Bhd is acquiring a 16.8% stake in Hillcrest Gardens Sdn Bhd from Lembaga Tabung Angkatan Tentera (LTAT) for RM59.06 million cash.
— The Sun Daily

LB Aluminium pays RM25m for industrial land
LB Aluminium Bhd’s wholly-owned subsidiary Albe Metal Sdn Bhd has entered into agreements with Facade Treatment Engineering Sdn Bhd to acquire a parcel of freehold industrial land in the Sungai Penaga Industrial Park in Subang Jaya, Selangor, for a RM25 million cash.
— The Malaysian Reserve

Franklin Templeton confident M’sia will retain Islamic finance pole position
Franklin Templeton Investments remains confident that Malaysia will continue to play a major role in islamic financing and the outlook looks encouraging.
— New Straits Times

DACSEE planning ICO in Malaysia
Cryptocurrency centric ride-hailing service operator DACSEE is planning its first initial coin offering (ICO) in Malaysia despite a much publicised failed attempt by another issuer, CopyCash Foundation early this year.
— The Sun Daily

 

Feature photo My Train Pix

 

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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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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