Malaysia Morning News For January 25

Inflation up 3.5% on higher fuel costs
Malaysia’s inflation rate rose 3.5% in December 2017 in line with expectations, as transport costs climbed on higher fuel prices but for 2018, analysts are expecting the impact to taper off and the inflation rate to decline.
— The Star Online

Malaysian firms can expand presence overseas with CPTPP: Mustapa
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will open the door for Malaysian companies to expand their presence overseas, Datuk Seri Mustapa Mohamed said.
— New Straits Times

Tokyo Gas to cut Malaysia LNG purchases after contract expires in March
Tokyo Gas Co will reduce the volumes of Malaysian liquefied natural gas (LNG) that it buys after a long-term contract expires this year, President-Elect Takashi Uchida said on Tuesday.
— The Star Online

Malaysian ports left out as container shipping lines consolidate
The recent round of container shipping line consolidation and alliance reshuffling leaves Malaysian ports out of the race for transhipment volumes, as bigger groups opt to maintain or move their services to Singapore rather than to Port Klang or Port of Tanjung Pelepas (PTP).
— Hellenic Shipping News

Malaysia’s edotco targets expansion in region, possible capital raising
Malaysia’s edotco Group is eyeing an entry into markets such as Thailand, Laos and Vietnam, and will tap funds to set itself up for more deals in the region, the telecommunications tower services unit of Axiata , the country’s largest mobile operator, said on Wednesday.
— Reuters

MBSB gets shareholders’ nod for RM644.95m AFB acquisition
Malaysian Building Society Bhd (MBSB) has received shareholders’ approval for the RM644.95 million acquisition of Asian Finance Bank Bhd (AFB) to pave the way for the financial institution to become a full-fledged Islamic bank.
— Daily Express

CPI is higher on transport, food and beverages
Malaysia’s Consumer Price Index (CPI), which measures headline inflation, rose by 3.5 per cent to 120.9 in December 2017 from 116.8 in the corresponding month of the preceding year, mainly due to transport, food and beverages.
— New Straits Times

TH Heavy to receive RM374m from FPSO novation agreement with Yinson
TH Heavy Engineering Bhd (THHE) today said it will receive RM374 million cash as proceeds of its novation agreement with Yinson Holdings Bhd for the floating, production, storage, offloading facility for the Layang Development awarded by JX Nippon Oil & Gas Exploration (Malaysia) Limited.
— The Sun Daily

GST can ‘save’ country during economic downturn, PM says
The Goods and Services Tax (GST) has helped “save” the Malaysian economy and may have even avoided a recession, Prime Minister Datuk Seri Najib Razak said today.
— Malay Mail Online

Mah Sing maintains RM1.8b sales target
Property developer Mah Sing Group Bhd maintains its sales projection of RM1.8 billion this year to be fuelled by more well-planned mass market residential projects priced below RM500,000.
— The Malaysian Reserve

Accept lower oil prices as the ‘real normal’, says MPRC
AS THE prices of crude oil are unlikely to revert to US$100 (RM393) per barrel, lower oil prices should be accepted as the “real normal”, said Malaysia Petroleum Resources Corp (MPRC).
— The Malaysian Reserve

DingTalk offers 100GB free storage for each SME
DingTalk, a revolutionary enterprise communication and collaboration platform of China’s Alibaba Group, offers 100 gigabytes (GB) of free storage space to each small and medium enterprise (SME) in Malaysia.
— Daily Express

PA Resources wins RM600m contract
P.A. Resources Bhd has bagged a RM600 million contract to supply materials to Nasdaq-listed First Solar Inc, First Solar Vietnam Mfg Co Ltd and First Solar Malaysia Sdn Bhd for the latter’s use in the production of solar photovoltaic modules.
— New Straits Times

EPF to invest more in US
The Employees Provident Fund (EPF) has applied for sovereign status in the United States to gain easier access to investment opportunities in the world’s largest economy.
— The Star Online

Malaysia-India economic ties to elevate to strategic level
The economic relations between Malaysia and India has surpassed the traditional stage following efforts by both countries to raise it to the strategic level.
— The Star Online

Feature photo Charles Haynes

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