Malaysia Morning News For February 16

Malaysia Morning News For February 16

Malaysia morning newsGas Malaysia sees rising profits in FY18
Gas Malaysia Bhd said higher gas tariff and increased sales volume boosted net profit in the last quarter ended Dec 31, 2017 (FY17).
— The Star Online

Nestlé Malaysia defends Milo over viral video accusations about sugar content
Nestlé Malaysia has responded to a viral online video, which claims its Milo drink contains 40% sugar, by stating: ‘The facts in this video are clearly misleading’.
— Food Navigator

Five companies partner for Kuala Lumpur-Singapore high-speed rail project
Siemens, Alstom, Ferrovie dello Stato Italiane and George Kent together with PORR are going to work together in a bid to win the tender for the high-speed rail contract.
— Global Railway Review

Malaysia will remain a net lender in 2018
Public Investment Bank Research (PublicInvest) opines that Malaysia is poised to maintain its position as a net lender in 2018 due to stronger fundamentals in terms of balance of payments.
— The Sun Daily

Does Malaysia need anti-fake law?
A CYBER activist said to me recently that “fake is now the rage”, although the term “fake news” was seldom found in the mainstream media two years ago. It was United States President Donald Trump who “trended” it last year.
— New Straits Times

Malaysian wealth fund Khazanah unit said to be in talks to sell Turkish insurer
A unit of Malaysia’s sovereign wealth fund plans to sell its Turkish health-insurance business to focus on its home market, according to three people with knowledge of the matter.
— DealStreetAsia

Consumer spending growth is expected to sustain above 7pc this year
Consumer spending growth is expected to sustain above seven per cent in 2018 as favourable labour market conditions prevail in the near term, with strengthening ringgit in tow to boost the sentiment.
— New Straits Times

Singapore, Malaysia equities advance trackingWall Street rally
Shares in Singapore and Malaysia ended a truncated trading session higher, boosted by an overnight rally in U.S. indexes after retail sales and inflation data.
— Nikkei Asian Review

Johor Port seals deal with PT Pelabuhan Indonesia
Johor Port Bhd, a member of MMC Group, has inked a Memorandum of Understanding (MoU) with PT Pelabuhan Indonesia I (PELINDO I) to establish Roll on Roll Off (RORO) activities and shipping connectivity.
— New Straits Times

Ringgit closes higher against US dollar
The ringgit closed sharply higher against the US dollar today on continued buying interest and aided by the recovery in oil prices, said a dealer.
— The Sun Daily

Govt to ask US why Malaysians not given visa waiver
The government will seek clarification from US Ambassador to Malaysia Kamala Shirin Lakhdhir over reports quoting her as saying that Malaysia’s inclusion in the United States’ visa waiver programme (VWP) will not happen anytime soon.
— Free Malaysia Today

TH Heavy Engineering on track to exit PN17
TH Heavy Engineering Bhd (THHE) is on track to emerge from its Practice Note 17 (PN17) status, after it received shareholders approval to transfer its floating, production, storage and offloading (FPSO) job awarded by JX Nippon Oil & Gas Exploration (Malaysia) Ltd, to Yinson Holdings Bhd today.
— The Sun Daily

Muslim Malaysia rejects criticism over Israeli visit
Malaysia today defended the decision to allow a high-level Israeli delegation to attend a UN conference in Kuala Lumpur after the move sparked widespread anger in the Muslim-majority country.
— Business Standard

Sunsuria to jointly develop RM187m commercial lots in Johor
Sunsuria Bhd plans to jointly build a six-storey stratified commercial lot called Pusat Perdagangan ION Akses, with a gross development value of RM187 million in Johor Bahru.
— The Edge Markets

20 Filipinos jailed for fake ID cards, using others’ cards
wenty Filipinos were jailed in Malaysia on Wednesday after pleading guilty to using forged identity cards or ID for other people.
— Asia Times

Newly found VC firm Vynn Capital plans SEA-focused $40m debut fund
Vynn Capital, a new Southeast Asia-focused venture capital firm founded by former Gobi executive Victor Chua and Singapore’s Darren Chua, is raising a $40-million debut fund, according to a recent report.
— DealStreetAsia


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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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