Malaysia Morning News For January 31

Malaysia Morning News For January 31

Malaysia morning newsMalaysia’s telecom players pay upfront fee for 3G spectrum
Malaysia’s top three telecom companies Tuesday said they each paid an upfront fee of 118.4 million ringgit ($30.38 million) and agreed to annual fixed payment of 50 million ringgit for the 2100MHz spectrum that is used for third generation, or 3G, wireless mobile telecommunications networks.
— Nikkei Asian Review

Analyst: Not all Malaysians benefiting from economic growth
Rebounding export and gross domestic product growth rates in 2017 have brought a positive outlook to the Malaysian economy, with Malaysia’s official reserves at US$101.5 billion last October.
— Free Malaysia Today

Lotte Chemical’s Q4 profits surges 30pc to RM378.15m
Lotte Chemical Titan Holding Bhd’s revenue in fourth-quarter (Q4) ended December 31, 2017 dipped 1.4 per cent to RM2.12 billion from RM2.15 billion a year ago due to reduced plant load at Indonesia Polyethylene plant and decrease in sales volume of by-product.
— New Straits Times

Malaysia’s trade to grow at moderate pace this year
Malaysia’s trade performance is expected to continue its growth momentum but at a moderate pace this year due to a high-base forecast in 2017.
— New Straits Times

Malaysia pushes infrastructure projects
Malaysia is among the South-East Asian nations that have pledged to spend billions on infrastructure developments, as the country seeks to further boost its economic prominence.
— The Malaysian Reserve

Ringgit falls vs US$ as Treasury yields climb past 2.7%
The US dollar rose for a second day as 10-year Treasury yields advanced to the highest since 2014 before President Donald Trump’s State of the Union address.
— The Star Online

APAC Digest: Lelong.my buys Materis; Japan’s Crowd Realty, Lancers raise funding
Malaysia’s Lelong.my has acquired Materis Agency, Crowd Realty has closed a Series A round while Lancers has secured an additional round of venture funding.
— DealStreetAsia

Public Mutual declares RM89m distributions for 6 funds
Public Mutual Bhd has declared distributions amounting to more than RM89mil for six funds.
— The Star Online

Chin Teck sees reasonably strong palm oil prices ahead
Chin Teck Plantations Bhd expects palm oil prices to remain reasonably strong in the current year ending August 2018 on prospects of firm global demand, particularly from the world’s most populated nations; India and China.
— New Straits Times

Salcon accepts RM19m construction job
Salcon Bhd’s sub-subsidiary Envitech Sdn Bhd has accepted the work order issued by China State Construction Engineering (M) Sdn Bhd for a mixed development project in KL worth RM18.95 million.
— The Sun Daily

Mudajaya Group issues RM245m SRI Sukuk
Mudajaya Group Bhd, via its wholly-owned subsidiary Sinar Kamiri Sdn Bhd, has issued a RM245 million green sustainable and responsible (SRI) Sukuk Wakalah, based on the Securities Commission’s SRI Sukuk Framework.
— New Straits Times

Additional RM113m appears unaccounted for in Penang land swap deal
There is an additional RM113 million that seems to be unaccountable in the land swapped for the studies of the three highways by the Penang state government, said Gerakan state chairman Teng Chang Yeow.
— The Sun Daily

Honda confirms Takata airbag inflator ruptured in crash
Honda has confirmed that the Takata single stage (SDI) driver’s airbag inflator ruptured in a crash on Jan 1, 2018 in Malaysia.
— The Star Online

BIMB appoints Ambrin Buang as new chairman
BIMB Holdings Bhd has appointed former auditor-general Tan Sri Ambrin Buang as its new independent and non-executive chairman, with effect on Friday 2nd February 2018.
— New Straits Times

CapitaLand terminates Bukit Bintang link bridge project
CapitaLand Malaysia Mall Trust (CMMT) has terminated the joint collaboration agreement for the construction of a link bridge between Sungei Wang Plaza and the existing pedestrian bridge leading to Berjaya Times Square.
— The Sun Daily

Sweden-SEA Business Summit to boost fdi for Malaysia
The Malaysian Investment Development Authority (MIDA) is confident that the upcoming Sweden-Southeast Asia Business Summit will further boost foreign direct investments (FDIs) from the European country into Malaysia.
— The Borneo Post

The Malaysian International Furniture Fair (MIFF)
Buyers attending the Malaysian International Furniture Fair (MIFF) this year will encounter not only a bigger show, but also a variety of complementary attractions.
— Funiture News

 

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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