Malaysia Morning News For January 12

Malaysia Morning News For January 12

Malaysia morning newsMalaysia’s CIMB to Divest Stakes in Two Asset-Management Companies
CIMB Group Holdings Bhd. (1023.KU), Malaysia’s second-largest bank by assets, said Thursday it had signed agreements to divest stakes in two of its asset-management companies to units of Principal Financial Group for MYR470.3 million ($117 million).
— Fox Business

Singapore’s BM Mobility offers to buy Malaysia’s electric car-sharing firm UNiRIDE
BM Mobility Ltd, a Singapore-listed investment holding firm, said Thursday that it has offered to acquire Malaysian electric car- sharing firm UNiRide Ecotour Sdn Bhd (UNiRIDE), for RM850,000 ($212,944).
— DealStreetAsia

HLT Global to diversify into rubber gloves manufacturing business
Glove-dipping line manufacturer HLT Global Bhd has proposed to acquire HL Rubber Industries Sdn Bhd (HLRI) for RM33 million, in a move which will see it diversify into the rubber gloves manufacturing business.
— The Sun Daily

MH370: Malaysia to pay US firm up to $70 million in search for missing plane
The Malaysian Government has signed an agreement to pay a US seabed exploration firm up to $70 million if it finds the missing Malaysia Airlines aircraft MH370 within 90 days of embarking on a new search in the Southern Indian Ocean.
— ABC

Haier targets RM240mil sales in Malaysia in 2018
Haier Electrical Appliances (M) Sdn Bhd, a trading arm for China’s Haier Group, is targeting to increase its sales by over 30% to about RM240mil this year.
— The Star Online

Malaysian corporates are bullish about 2018
RAM Holdings, formerly known as Rating Agency Malaysia Bhd, expects continued overall positive sentiments of the local corporate landscape this year, on the back of the findings in its yearly RAM Business Confidence Index (RAM BCI).
— New Straits Times

Aviation sector to soar on improved consumer sentiment
The aviation sector in Malaysia is expected to chart healthy growth in 2018, underpinned by improved consumer sentiment, a rebound in tourist arrivals after weak growth last year and continued strong demand for international travel by locals.
— The Star Online

Malaysia’s Equinas sells APIIT for $180m in KV Asia-backed management buyout
Malaysia’s state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) has divested its entire stake in local education company APIIT Education Group for $180 million to a joint venture vehicle owned by its existing management team and private equity firm KV Asia Capital.
— DealStreetAsia

Superceed targets IPO in Malaysia or abroad
Superceed (M) Sdn Bhd, an emotion artificial intelligence (AI) and virtual contact centre company, is targeting an initial public offering (IPO) either in Malaysia or abroad within two years.
— The Star Online

Amtek to sell Crocodile brand inventory to pay loans, creditors
Amtek Holdings Bhd said it will use the RM8 million cash it will raise in the disposal of its Crocodile brand inventories to pay loans and creditors, after its unit decided to terminate the licensing agreement with Crocodile International Sdn Bhd on Jan 8, 2018.
— The Sun Daily

Sunway grows together with Penang
AMONG the strongest players in the Penang property market is SunwayBhd, which launched one of its best-selling projects in Bukit Mertajam called Sunway Wellesley six years ago.
— New Straits Times

R&A Telecommunication suing founder, Nexgram
R&A Telecommunication Group Bhd is suing founder Francis Tan Hock Leong, Nexgram Holdings Bhd and five other parties for not withdrawing the notice of EGM dated December 22, 2017, which seeks the removal of three R&A director.
— The Sun Daily

Shanda Group-backed Malaysian company NIDA aims to be Airbnb for economy hotels
Chinese conglomerate Shanda Group invested $5.6 million Series A in Malaysian startup NIDA on February 2017 in order to further tap into Southeast Asia regions, the next booming travel destination for Chinese tourists.
— Technode

Selangor customs cripple cigarette, alcohol smuggling activities
The Selangor branch of the Royal Malaysian Customs Department crippled attempts by syndicates to smuggle in contraband cigarettes and liquor at three locations in Klang recently.
— Malay Mail Online

 

Feature photo Ah Wei (Lung Wei)

 

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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