Malaysia Morning News For January 29

Malaysia Morning News For January 29

Malaysia morning newsMalaysia’s Sime Darby mulling sale of stake in $1.7b Papua New Guinea arm
Sime Darby Plantation Bhd., Malaysia’s biggest listed palm oil producer, is exploring a sale of a minority stake in its Papua New Guinea unit, people familiar with the matter said.
— DealStreetAsia

Maybank to raise lending rates by 25bps on Monday
Malayan Banking Bhd will raise its base rate (BR) and base lending rate (BLR) with effect from Monday, in line with Bank Negara Malaysia’s decision to the increase in the Overnight Policy Rate (OPR).
— The Star Online

EU should ban butter, not palm oil, says Mah
The European Union (EU) should ban butter and not palm oil if it wants to use the environment factor as the basis for banning palm oil-based biofuels by 2020.
— Malay Mail

CIMB to raise lending and FD rates
In response to Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) increase from 3.00 per cent to 3.25 per cent, CIMB Bank Bhd and CIMB Islamic Bank Bhd today announced corresponding increases in its Base Rate and Fixed Deposit Board Rates by 0.25 per cent.
— New Straits Times

Cryptocurrencies not substitute for gold
Bitcoin and cryptocurrencies more generally are not a substitute for gold which is a tried and tested effective investment tool in portfolios, says the London-based World Gold Council.
— The Star Online

Takaful Malaysia records RM205.1m net profit in FY17
Syarikat Takaful Malaysia Bhd posted a record net profit for the financial year ended December 31 2017, with an 18 per cent increase in profit after tax and zakat (PATZ) to RM205.1 million from RM174.5 million in the previous financial year.
— New Straits Times

FMM calls for minimum wage status quo
The Federation of Malaysian Manufacturers (FMM) appeals to the government to maintain the current minimum wage, following MTUC’s suggestion for a 50 per cent hike to RM1,500.
— New Straits Times

Najib tries to bridge divide with East Malaysia ahead of polls
Construction of an 11km bridge will begin in 2020 – when the rest of Malaysia is slated to achieve “developed” status – linking one of the country’s poorest states with a financial district that is one of the country’s richest.
— The Straits Times

Cypark wins RM261m job to build large scale solar plant
Cove Suria Sdn Bhd has awarded a RM261 million turnkey contract to Cypark Resources Bhd to build a large scale 30MW solar plant at Empangan Kelinchi, Negeri Sembilan.
— New Straits Times

‘Cheaper’ housing loans – there must be a quota, says analyst
There must be a quota in the proposal by the government to reduce housing loan interest rates, as banks may not necessarily abide by suggestions that could add to their costs.
— The Sun Daily

Should dual-class shares be introduced in Malaysia?
THE issue of dual-class shares has come closer to home.
— The Star Online

Visit Malaysia 2020 logo panned by social media users
MALAYSIANS have panned the new Visit Malaysia Year 2020 (VMY2020) logo as mediocre and in poor taste.
— The Malaysian Insight

More upside for poultry company CCK
CIMB Equities Research is retaining its Add call for poultry company CCK Consolidated with a target price of RM1.65, which is 45.8% above the last traded price of RM1.13.
— The Star 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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