Malaysia Morning News For April 6

Malaysia Morning News For April 6

Malaysia morning newsUS electrical and electronics firms invest RM42b in Malaysia
About 24 electrical and electronics (E&E) companies from the United States have to date invested RM42bil in Malaysia, according to the 2018 survey of American investment in the E&E sector.
— The Star Online

Malaysia Issues 30-Day Ban on Mahathir’s Party Ahead of Vote
Former Malaysian premier Mahathir Mohamad’s party has been banned from campaigning for 30 days, a move that could dent his challenge to Prime Minister Najib Razak in a coming election.
— Bloomberg

Honda Malaysia issues recall for 28,399 units of 2013 year models
Honda Malaysia has issued a precautionary recall for 28,399 units of 2013 year model vehicles to replace Takata passenger front airbag inflator.
— The Star Online

Najib remaps another rigged election
On March 28, a majority of Malaysian parliamentarians accepted a new electoral map that will reportedly affect almost half of the country’s 222 constituencies, a move that is expected to work in the favor of the ruling United Malays National Organization (UMNO)-led Barisan Nasional (BN) coalition.
— Asia Times

Malaysian banks have resilient capital, earnings buffers: Moody’s
Malaysian banks have resilient capital and earnings buffers in severe macroeconomic and financial stress, which is a credit positive, says Moody’s Investors Service.
— The Star Online

Malaysia’s Feb exports fall 2 pct y/y, hit by Lunar New Year holidays
Malaysia’s exports fell for the first time in 18 months in February, showing the effects of shorter working days during the Lunar New Year break, government data showed on Thursday.
— Reuters

Malaysia: 14,000 tonnes of durians exported last year
More than 14,000 tonnes of durians were exported from Malaysia last year, according to the country’s Agriculture and Agro-based Industry Ministry. In a written statement it said the durians were exported in the form of whole fruit, pulp and paste. This brought in RM70.68 million ($18.24 million) in revenue.
— Fresh Plaza

GHL to acquire entire take of credit card acquiring company for RM80m
GHL Systems Bhd ‘s wholly owned subsidiary, S Capital Sdn Bhd, is acquiring the entire stake in Paysys (M) Sdn Bhd (PMSB) from Paysys Group Holdings Sdn Bhd (PGHSB) and Rica Holdings (M) Sdn Bhd for RM80 million.
— New Straits Times

Survey: Malaysia tops regional average for future property investments abroad
Nearly half of clients surveyed by property consultancy firm Knight Frank are still looking to invest in property overseas over the next few years.
— The Star Online

Petron sells Gasul cooking gas
Petron Malaysia Refining & Marketing Bhd will begin marketing Gasul brand gas at five petrol stations in the Klang Valley and Melaka this month.
— New Straits Times

The truth and the fake in the making of Malaysian news
There is this comic strip in which three men are asked what they enjoy doing in their free time.
— New Mandala

Number of ultra-wealthy Malaysians rises by 11pct to 310
The number of ultra-wealthy Malaysians rose 11 per cent to 310 last year, up from 280 in 2016, among the country’s population of 31.19 million, according to Knight Frank’s The Wealth Report 2018.
— New Straits Times

Malaysia-US trade growth will be slower this year
The International Trade and Industry Ministry (Miti) has warned that Malaysia’s trade growth with the US in 2018 is not expected to be as robust as last year’s 16.3%, even as the American Malaysian Chamber of Commerce’s (Amcham) considers the impact of the trade issues between US and China too early to tell.
— The Sun Daily

UN’s top court to revisit Malaysia’s dispute with Singapore over island’s sovereignty
The International Court of Justice said it would hear arguments “concerning the revision of the judgment of 23 May 2008 in the case concerning sovereignty over Pedra Branca/Pulau Batu Puteh.”
— South China Morning Post

Wealthy Malaysian investors shift money to safe-haven assets
Wealthy Malaysian investors are shifting their money to safe-haven assets such as bonds and gold from property in light of a more cautious market and the upcoming general election.
— The Star Online

Protasco’s unit bags RM216m contracts from Perak government
Protasco Bhd’s subsidiary, Empayar Indera Sdn Bhd (EISB), has bagged two contracts involving road maintenance works worth at least RM216.2 million.
— New Straits Times

Latitude Tree says lost inventory, building and machinery in fire incident at Vietnam factory
Latitude Tree Holdings Bhd today announced that a fire incident at a factory building in Binh Duong, VIetnam belonging to RK Resources Co Ltd, an indirect wholly-owned subsidiary of the company, may have seen losses of US$5.5 million (RM21.45 million) in inventory, building and machinery.
— The Sun Daily

 

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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