Malaysia morning news for August 2

Malaysia morning news for August 2

Malaysia morning newsMalaysia’s export growth to accelerate to 8.7% in June — RAM
Malaysia’s export growth is expected to pick up to 8.7% in June from 3.4% in May despite the envisaged slowdown amid the Hari Raya festive season, RAM Rating Services Bhd said today.
— The Edge Markets

Thailand facilitates border trade and tourism at Malaysian Border
The Sadao Border Crossing in Songkhla province in the deep south of Thailand is the Thai-Malaysia border area with the highest value of border trade and often criticized for its congestion, but the problem has now been solved. Additionally, the Thai government is building a new checkpoint, which is 20 times bigger than the current one, to support and facilitate border trade and tourism. Khun Suchanee Rungmueanpon brings us the story from Songkhla Province.
— News Today (video)

China Petroleum Pipeline says it has no link to 1MDB debt payment
China Petroleum Pipeline Engineering Co Ltd (CPP) has denied that funds from its two pipeline projects in Malaysia were used to pay debts linked to 1Malaysia Development Bhd (1MDB).
— New Straits Times

Malaysia lowers July crude oil official selling price
Malaysia has lowered the official selling price of a basket of July-loading Malaysian crude oil grades to US$78.20 a barrel, Petronas said in a document reviewed by Reuters on Wednesday.
— The Edge Markets

Trade war impact minimal to Malaysia: MITI
The impact of trade tension between the United States (US) and China on Malaysia has so far been minimal up despite the lower-than-expected export and import growth in May.
— New Straits Times

Taiwan electronic makers eye Malaysia, SEA due to Trump’s tariffs
Electronics makers are preparing to shift more production to Southeast Asia as trade tensions with the U.S. make it less appealing to manufacture gadgets in China.
— The Star Online

Pompeo Arrives In Malaysia After A Former Ruler Makes A Surprising Comeback
Major issues such as trade, security and China’s expansion are up for discussion when Secretary of State Mike Pompeo travels to Southeast Asia this week. On the first leg of his trip, in Malaysia, he’ll be checking in on a new government for the first time.
— NPR

Dr Mahathir does not discount possibility of F1 returning to Malaysia
Prime Minister Tun Dr Mahathir Mohamad does not discount the possibility that the Formula 1 (F1) race, which was last hosted by Malaysia last year, will return to this country.
— The Edge Markets

Utusan defaulted on loan
Utusan Melayu (M) Bhd has defaulted on a RM2.9mil loan. “Due to financial constraints the company is not able to meet its obligation to repay the Affin Islamic Bank Bhd and therefore had defaulted in profit and principal payment to the bank,” it said.
— The Star Online

Malaysia has not proposed meeting date with Singapore on HSR: MOT
The Malaysian government has not proposed a meeting date to discuss the Kuala Lumpur-Singapore High Speed Rail (HSR) project, Singapore’s Ministry of Transport (MOT) said on Wednesday (Aug 1).
— Channel NewsAsia

Passport contract will go on despite legal suit, says Datasonic
Datasonic Group Bhd said the ongoing legal suit between its wholly-owned unit, Datasonic Technologies Sdn Bhd (DTSB), and Percetakan Keselamatan Nasional Sdn Bhd (PKN) will not affect its five-year Malaysian passport booklets contract with the government.
— New Straits Times

Time to revamp Malaysia’s healthcare system, says ex-DG
Dr Ismail Merican says the first step is to form an alliance with public and private healthcare sectors.
— FMT

Malaysia’s Khazanah sovereign wealth fund invested RM80m in lingerie business: Reports
Malaysia’s sovereign wealth fund Khazanah Nasional invested about RM80 million (US$19.7 million) in a failed lingerie business, local media reported on Wednesday (Aug 1).
— Channel NewsAsia

DRB-Hicom unit to sell Alam Flora stake for RM945m
DRB-HICOM Bhd is selling its entire stake in Alam Flora Sdn Bhd to Malakoff Corp Bhd for RM944.6 million.
— New Straits Times

Four new captives in first half for Labuan IBFC
Labuan International Business and Financial Centre (Labuan IBFC) envisages a positive trend in the take-up of captive insurance following four approvals in the first half of the year.
— The Sun Daily

Matrade, CICC collaborate to ease market accessibility
Malaysia External Trade Development Corporation (Matrade) and China Certification and Inspection (CCIC) joined forces to organise a seminar to boost Malaysian exporters understanding on CCIC Traceability System that was introduced in Malaysia in April this year.
— The Borneo Post

BPB buys palm oil plantation lands in Sabah for RM397m
Boustead Plantations Bhd (BPB) is acquiring 4,915.25 hectares of oil palm plantation land in Sandakan, together with a palm oil mill for RM397 million cash.
— New Straits Times

Boustead Plantations buys land, assets in Sabah for RM397m cash
Boustead Plantations Bhd is acquiring oil palm plantation land measuring 4,915.25ha in Sabah together with a palm oil mill, buildings erected, movable assets, machinery and vehicles for RM397 million cash.
— The Sun Daily

Petronas expands VDP programme in collaboration with industry players
As part of its initiative to boost the capabilities of local companies in Malaysia’s oil and gas industry, Petronas yesterday launched VDPx – a new vendor development scheme under the company’s existing Vendor Development Programme (VDP) to be implemented in collaboration with major industry players in the country.
— The Borneo Post

Malaysian M&A activity to remain robust: Bain & Co
Merger and acquisition (M&A) activity in Malaysia is expected to remain robust this year, especially when more firms are looking for M&As than opting for the initial public offering (IPO) market, according to management consulting firm Bain & Co’s financial investors and M&A practice leader Suvir Varma.
— The Sun Daily

Fewer drivers registering with GRAB following new regulations
Grab Malaysia has seen a reduction in the registration of new part-time drivers following the regulations imposed by the Ministry of Transport (MOT) on ride-hailing companies.
— The Borneo Post

MMHE records higher net loss in Q2
Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE)has reported a higher net loss of RM49.80 million for the second quarter ended June 30, 2018 from a net loss of RM14.28 million in the same period last year.
— New Straits Times

Wan Zulkiflee stays put at Petronas, Ahmad Nizam appointed chairman
Petroliam Nasional Bhd (Petronas) president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin has been spared the culling which left few survivors in government-linked companies, after weeks of speculation that he was to be replaced.
— The Sun Daily

Syndicates found lacing pre-mixed drinks with drugs: Malaysia police
Malaysian police have identified 30 brands of soft drinks as well as pre-mixed coffee and tea sachets that were repacked after being spiked with drugs.
— Channel NewsAsia

Survey: 8 out of 10 workers in Malaysia prefer older bosses
The Randstad Workmonitor survey shows that most employees throughout the world prefer to work under bosses their age or older.
— FMT

 

Feature photo Craig Morey

 

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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