Malaysia morning news for July 17

Malaysia morning news for July 17

Malaysia morning newsMalaysia opposition lawmakers stage walkout at first parliament sitting
Malaysia’s first parliament sitting since the May 9 general election was marred by a mass walkout by opposition MPs, who were protesting against the appointment of the Speaker of parliament.
— Channal NewsAsia

Malaysia: New government sworn in after 61-year party rule
Almost half of all parliament members are new faces, including PM Mahathir Mohamad, whose surprise campaign brought down his predecessor charged with corruption.
— Aljazeera

Malaysia’s “durian trips” continue to increase
The Malaysian Kwong Wah Yit Poh reported on July 10th that the vice-secretary-general of the Malaysian Department of Agriculture and Agro-based Industry pointed out in June that the Malaysian and Chinese governments had successful negotiations on the issue of whole durian export from Malaysia to China.
— Fresh Plaza

Najib withdraws suits against Malaysia attorney-general, 1MDB investigators
Former Malaysian prime minister Najib Razak withdrew his lawsuits on Monday (Jul 16) against three top officials investigating the 1Malaysia Development Berhad (1MDB) scandal.
— Channel NewsAsia

Sales, Services Tax at 10pc, 6pc respectively: Guan Eng
The Sales and Services Tax (SST) rate is set at 10 per cent for sales and six per cent for services, according to Finance Minister Lim Guan Eng.
— New Straits Times

Malaysia, Singapore to discuss high-speed rail by end July: Azmin Ali
Malaysia will send an official representative to Singapore to discuss the Kuala Lumpur-Singapore high-speed rail (HSR) project by the end of the month, said Malaysian Economic Affairs Minister Mohamed Azmin Ali on Monday (Jul 16).
— Channal NewsAsia

Duterte, Mahathir reaffirm PH-Malaysia ties
President Rodrigo Duterte and Malaysian Prime Minister Mahathir Mohamad met on Monday in Malaysia’s federal administrative center Putrajaya to reaffirm the two Southeast Asian nations’ ties.
— ABS-CBN

High hopes for EU-Malaysia FTA
The European Union (EU) business community is hopeful that the new government under Pakatan Harapan will hasten the relaunch of free trade agreement (FTA) negotiations soon.
— New Straits Times

Affin Hwang first bank as supplier, user under ISSBNT
Affin Hwang Investment Bank Bhd is the first bank to be approved as a supplier and user under the Islamic Securities Selling and Buying Negotiated Transaction (ISSBNT) model.
— New Straits Times

Zero GST in Malaysia: Over 1 month on, who are the winners and losers?
It has been more than a month since the new Malaysian government cut the rate of the Goods and Services Tax (GST) to zero nationwide.
— Today Online

RAM forecasts June inflation rising to 1.9%
RAM Ratings expects Malaysia’s headline inflation rate to rise to 1.9% in June versus 1.8% in May, due to higher retail fuel prices, offsetting the positive impact from the zero-rating of the Goods and Services Tax (GST).
— The Sun Daily

Sidek exits KLCCP Stapled Group
Tan Sri Mohd Sidek Hassan, whose tenure as Petronas Chairman ended last month, has resigned as Chairman of both KLCC Property Holdings Bhd (KLCCP) and KLCC Real Estate Investment Trust’s (KLCC REIT) management company, KLCC REIT Management Sdn Bhd.
— New Straits Times

OCBC named Malaysia’s SME Bank of the Year
OCBC Bank (Malaysia) Bhd (OCBC Bank) has been adjudged Malaysia’s SME Bank of the Year by Asian Banking & Finance for attending to the needs of small and medium sized companies holistically, particularly in the digital space.
— The Borneo Post

Melaka Gateway developer to update stakeholders
The concessionaire of Melaka Gateway, KAJ Development Sdn Bhd (KAJD) is requesting for a meeting with key stakeholders such as the Ministry of Transport and port regulator Port Klang Authority to present the latest updates on the project.
— The Sun Daily

Businesses offering credit must evolve to maintain and grow market share
It is important for businesses offering credit must evolve to maintain and grow market share, according to CTOS Data Systems Sdn Bhd (CTOS), Malaysia’s largest credit reporting agency.
— The Borneo Post

Sapura Energy bags two supplier awards from Petrobras
Sapura Energy Bhd clinched two awards at Brazilian state-controlled oil company Petróleo Brasileiro SA’s Best Suppliers Recognition Award 2017 held in Rio de Janeiro recently.
— New Straits Times

Optimism for IHH after Fortis purchase
Analysts laud the long-awaited move by IHH Healthcare Bhd (IHH) for the proposed subscription of 235.3 million new Fortis Healthcare Ltd (Fortis) shares by a way of preferential allotment representing a 31.1 per cent of the total voting equity share capital of Fortis.
— The Borneo Post

Nova MSC to focus on growing e-government and smart healthcare segments
Nova MSC Bhd, which recently proposed to dispose of the company’s loss-making building automation segment, will focus on its e-government and smart healthcare segments going forward as it is confident of securing more contracts.
— The Sun Daily

Business as usual for Tealive stores
Tealive bubble tea brand owner, Loob Holding Sdn Bhd said all Tealive stores will remain in business as usual.
— The Star Online

DBE to supply poultry products to KFC in Perak
DBE Gurney Resources Bhd’s wholly owned subsidiary DBE Poultry Sdn Bhd today inked an agreement with Ayamas Food Corp Sdn Bhd to supply poultry products to all the KFC restaurants in Perak from July 1, 2018 to June 30, 2019.
— The Sun Daily

Malaysia Unemployment Rate Remains Stable
Malaysia’s unemployment rate held steady in May, figures from the Department of Statistics showed Monday.
— Market Insiders

Net foreign outflows from Bursa Malaysia narrow
Net outflows from Bursa Malaysia continued to narrow for the third straight week, with the amount sold by global funds last week receding to RM531.8 million net.
— The Sun Daily

Pablo Cheese Tarts exit Malaysia after 2 years
Just a few days ago, we got confirmation that Pablo’s first (and remaining store) in KL was shut down permanently.
— AsiaOne

Salcon clinches RM71m storm water pumping station job in Sri Lanka
Salcon Bhd has bagged a US$6.8 million (RM27.7 million) and 1.718 billion rupees (RM43.6 million) storm water pumping station contract in Sri Lanka.
— The Sun Daily

 

Feature photo Andrew H

 

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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