Malaysia Morning News For April 3

Malaysia Morning News For April 3

Malaysia morning newsMalaysia approves ‘fake news’ law despite outcry
Malaysia’s government Monday pushed a law through parliament that makes “fake news” punishable by a maximum six-year jail term despite an outcry from critics worried it will be used to stifle dissent before elections.
— Business Times

Bursa Malaysia announced CIS regulatory framework enhancements
Bursa Malaysia Securities Bhd today announced enhancements to the regulatory framework for listed collective investment scheme (CIS) and business trust under the Main Market Listing Requirements (Main LR).
— New Straits Times

What next for Sarawak, Petros & Petronas?
SPG congratulates the Sarawak Government and YAB Chief Minister Datuk Patinggi Abang Johari for taking this bold and brave step to exert Sarawak’s ownership and its rights over its own petroleum resources.
— The Borneo Post

Hibiscus Petroleum on track to achieve 20,000 barrels oil daily by 2021
Hibiscus Petroleum Bhd plans to spend US$55 million to boost oil production at its North Sabah enhanced oil recovery asset, its top executive said.
— New Straits Times

Pasukhas plans to diversify into property, coal businesses; seeks to raise RM13.9m via special share issue
Pasukhas Group Bhd has proposed to diversify its business to include property development and coal trading.
— The Edge Markets

Empowering Malaysia’s micro-entrepreneurs to boost e-commerce
MALAYSIA Digital Economy Corporation (MDEC) celebrated the successful completion of 50 high potential eUsahawan participants, who were among the pioneer batch of a special training and coaching programme aimed at creating sustainable e-commerce businesses.
— Digital NewsAsia

Malaysia’s PPI likely to be in negative trajectory this year
PPI was in the negative trajectory in 2015 and this trend lasted until the third quarter of 2016.
— The Star Online

MBSB Bank to launch fintech, internet banking
MBSB Bank Bhd, which is now the second largest full-fledged Islamic bank in the country with the transfer of all Malaysia Building Society Bhd’s (MBSB) syariah-compliant assets and liabilities to Asian Finance Bank Bhd (AFB), will launch fintech capabilities in the third quarter of this year and internet banking for customers by the end of the year.
— The Sun Daily

CIMB gets SC nod to sell cash equities business to Jupiter Securities
CIMB Group Holdings Bhd received approval from the Securities Commission Malaysia today for the proposed sale of its Malaysia cash equities business to Jupiter Securities Sdn Bhd. This includes the sale of a 100% equity interest in CIMB Futures Sdn Bhd.
— The Edge Markets

GFM bags RM51m facilities management contract
GFM Services Bhd has secured a contract from Sinar UniResources Sdn Bhd (SUR) to provide integrated facilities management services for the Sabah State Administration Centre (PPNS) in Kota Kinabalu worth RM51.8 million.
— New Straits Times

Foreigners sold RM301m last week
The net amount sold by foreign investors last week amounted to RM301.3 million, the second largest weekly attrition so far this year.
— The Sun Daily

WCT unit buys stake in Subang Skypark
WCT Holdings Bhd’s wholly owned subsidiary, Skyline Domain Sdn Bhd, has acquired 60 per cent stake in Subang Skypark Sdn Bhd (SSSB) for RM44.56 million cash.
— New Straits Times

Ananda Krishnan may sell German tropical resort
T Ananda Krishnan is considering selling a tropical-themed holiday resort in Germany as he seeks to focus on his domestic investments, people familiar with the matter said.
— Free Malaysia Today

iPay88 supports Malaysia’s ‘Underbanked’ via iPay88’s Virtual Account
Online payment solutions provider iPay88 Holding Sdn Bhd today announces its latest offering known as the ‘Virtual Account’ – a payment solution that is targeted at the country’s ‘underbanked’ communities.
— New Straits Times

Maybulk offers to sell 21% of POSH to shareholders
Malaysian Bulk Carriers Bhd (Maybulk) proposes to sell its entire 21.23% stake in Singapore-listed PACC Offshore Services Holdings Ltd (POSH) to its shareholders via a renounceable restricted offer for sale (ROS) exercise involving up to 386.39 million POSH shares.
— The Sun Daily

Report: Maxis gives RM60 million for Aircel staff salary
Maxis Communications has pumped an additional ₹95 crore (RM60 million) into Aircel to enable the loss-making mobile operator to pay the salaries of some 4,000 employees, The Hindu BusinessLine reports.
— Free Malaysia Today

TUBE participants expected to generate RM1.1 billion sales
SME Corp Malaysia is confident that the Bumiputera Youth Entrepreneurs Tunas Scheme (TUBE) is expected to generate RM1.1 billion worth of cumulative sales by 2020, riding the wave of the country’s e-commerce industry.
— The Borneo Post

Malaysia Autoshow 2018 Eyes Over RM250 Mln In Sales
The Malaysia Autoshow 2018 aims to garner over RM250 million in sales and potential sales, said Malaysia Automotive Institute (MAI) Chief Executive Officer, Datuk Madani Sahari.
— Malaysian Digest

Matrade’s International Sourcing Programme at ICW 2018 records RM315.5m potential sales
The Malaysia External Trade Development Corp’s (Matrade) International Sourcing Programme (INSP), held last week in conjunction with the International Construction Week (ICW) 2018, has secured a total of RM315.50 million in potential sales.
— Malay Mail

Malaysia Food and Grocery Retail Market Demand, Scope and Trends 2018
Malaysia Food & Grocery Retail Market Research Reports 2018 to 2022 tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies.
— The Truth Today

World startup festival to kick start funding programme in Malaysia
US-based World Startup Festival (WSF), a global entrepreneurship platform, plans to kick off its first accelerator funding programme in Malaysia this early April.
— The Borneo Post

Malaysia Online Retail Market Growth, Demand and Trends 2018
Malaysia Online Retail Market Research Reports 2018 to 2022 tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies.
— The Truth Today

 

Feature photo Jakub Michankow

 

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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