Malaysia Morning News For January 24

Malaysia Morning News For January 24

Malaysia morning newsInvest Malaysia 2018 – selling the story of economic resilience and strong fundamentals
Invest Malaysia 2018, which broke the norm and kick started the year rather than being the usual June affair, is expected to be a subdued two-day event with no major announcements for the local capital market, at a time when the general election is around the corner.
— The Sun Daily

Lotte Chemical signs a three-year sales contract with Abu Dhabi Oil Company
Lotte Chemical Titan Holding Bhd’s subsidiary Lotte Chemical Titan (M) Sdn Bhd had signed a three-year sales contract with Abu Dhabi Oil Company for the purchase of refined products and paraffinic naphtha.
— New Straits Times

SMEs take up 50% of guaranteed financing
Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP), an agency tasked with according government guarantees for small and medium enterprises’ (SMEs) financing needs, has seen about half of the RM27.2 billion of financing it can dish out taken up.
— The Sun Daily

Malaysia’s more inclusive policies reflected in bullish stock market
The government’s more inclusive and sustainable policies are now reflected in the bullish local stock market, Permodalan Nasional Bhd chairman Tan Sri Abdul Wahid Omar said.
— New Straits Times

PE firm Quadria Capital backs Malaysian diagnostics provider Lablink
Asia-focused healthcare investor Quadria Capital today announced its investment in Malaysian diagnostics provider Lablink (M) Sdn Bhd.
— DealStreetAsia

Malaysia-China investment ties is a two-way street: PM
Malaysia’s overseas investment has exceeded foreign direct investments (FDI) here with money flowing into China used to being bigger than the latter’s investment here, said Prime Minister Datuk Seri Najib Razak.
— New Straits Times

Hengyuan gets RM1.7b financing from AmBank, CCB, Maybank
Hengyuan Refining Company Bhd has secured financing facilities totaling US$430mil or RM1.7bil from three banks for planned upgrades and maintenance projects for the refinery.
— The Star Online

Malaysia will never repeg ringgit to US dollar: Najib
Malaysia will never repeg the ringgit to the US dollar, according to Prime Minister Datuk Seri Najib Abdul Razak.
— The Sun Daily

Axis REIT sees marginal decline in 4Q NPI, plans final 0.92 sen DPU
Axis Real Estate Investment Trust’s (Axis REIT’s) net property income (NPI) for the fourth quarter ended Dec 31, 2017 (4QFY17) slid 1% to RM35.31 million from RM35.61 million a year ago, as realised property income declined marginally.
— The Edge Markets

Savills: 27 new malls to enter Greater KL market by 2021
Property consultancy firm Savills (Malaysia) Sdn Bhd expects the retail space market to remain challenging with 27 new malls anticipated to enter the market in Greater Kuala Lumpur (KL) by 2021.
— The Sun Daily

BAssets continues to up stake in 7-11 after saying ‘not aware’ of privatisation plan
Berjaya Assets Bhd (BAssets) has raised its stake in 7-Eleven Malaysia Holdings Bhd further to 5.59% from 4.63% after buying 10.7 million shares or a 0.96% stake for RM16.84 million.
— The Edge Markets

DRB-HICOM terminates JV contract with Goldstar Heavy Industrial Co Ltd
DRB-HICOM Bhd’s 50.1 per cent subsidiary, Proton Holdings Bhd, has terminated its equity joint venture contract with Goldstar Heavy Industrial Co Ltd.
— New Straits Times

Malaysia Central Bank Likely to Raise Benchmark Interest Rate Thursday, Economists Say
Most economists polled by the Wall Street Journal this week expected Malaysia’s central bank would raise its benchmark interest rate on Thursday, as the country’s economic growth and inflation are expected to remain elevated.
— Fox Business

Amid registration drive, Airbnb says generated over RM200m for local economy in 2017
Online hospitality provider Airbnb said today it has generated over RM200 million for the Malaysian economy in the last year alone, amid Kuala Lumpur City Hall’s (DBKL) move to register owners and operators offering rentals.
— Malay Mail Online

Pos Malaysia appoints former airline executive and technopreneur as new boss
Pos Malaysia Bhd has appointed former airline executive and technopreneur Al-Ishsal Ishak as new group chief executive officer (CEO), in a move that signals the postal services group’s ambition to become a major player in the e-commerce delivery business.
— The Star Online

 

Feature photo Charles Haynes

 

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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