Malaysia Morning News For June 13

Malaysia Morning News For June 13

Malaysia morning newsMalaysia To Scrutinise “Dubious” Battersea Power Station Deal
The new Malaysian government will probe and possibly renegotiate the Battersea Power Station deal in London, undertaken by the previous government as part of what is seen as major “dubious” property investments in the UK, Anwar Ibrahim, who leads the recently elected Pakatan Harapan party, told The Guardian during a working visit to London.
— Investvine

Anwar’s Message To The UK – Support Our Democracy And Help Us Get Our Cash Back!
Anwar Ibrahim met up with some of his most sturdy supporters from the British parliament at Westminster today (Tuesday), who had come to celebrate his freedom and return to politics.
— Sarawak Report

U.S. STATE DEPARTMENT THINKS SINGAPORE IS PART OF MALAYSIA
This week’s summit between President Donald Trump and North Korea leader Kim Jong Un was held in Singapore, the wealthy city-state known worldwide for its business-friendly politics, futuristic architecture and cleanliness.
— News Week

Malaysia to reopen embassy in North Korea: Mahathir
Malaysia will reopen its embassy in Pyongyang, Prime Minister Mahathir Mohamad has said, suggesting an end to the diplomatic row over the assassination of North Korean leader Kim Jong Un’s half-brother in Kuala Lumpur last year.
— Channel NewsAsia

Malaysia and Japan to revive Look East policy
Malaysia and Japan will rejuvenate and upgrade the Look East Policy to deepen collaboration and strengthen business competitiveness for both countries.
— The Star Online

KL-Singapore high-speed rail postponed, not scrapped: Malaysian PM Mahathir
Malaysia’s Prime Minister Mahathir Mohamad has said the High-Speed Rail (HSR) link between Kuala Lumpur and Singapore is “postponed”, and not scrapped.
— The Straits Times

Malaysia asks Japan for yen loan to solve financial woes
Malaysian Prime Minister Mahathir Mohamad said Tuesday he had asked Japan for yen-denominated loans as Kuala Lumpur seeks to pare down its hefty debt load.
— Nikkei Asian Review (paywall)

Malaysia likely to review foreign insurance ownership directive — sources
Malaysia is likely to review a directive to foreign insurers to reduce ownership of their local units by nearly a third as finding domestic buyers for the equity stakes is proving hard, three people familiar with the matter said.
— The Edge Markets

Malaysia’s Transport Ministry cancels writing contract worth S$270,000
Malaysia’s Transport Ministry has cancelled a writing contract worth RM808,000 (S$270,000) that was awarded in January to Pemandu Associates, a company helmed by former minister Idris Jala, reported news site The Malay Mail.
— The Straits Times

Ninth gas discovery offshore Sarawak will enhance SK408’s viability
Sapura Energy Bhd (Sapura Energy) and partners Sarawak Shell Bhd (Sarawak Shell) and Petronas Carigali Sdn Bhd’s (Petronas Carigali) ninth gas discovery offshore Sarawak is expected by analysts to further enhance the viability of the SK408 project cluster by leveraging on the common infrastructure, pipelines and facilities .
— The Borneo Post

AmInvest declares RM43 mln income distribution
Malaysia’s largest exchange-traded fund provider, AmInvest, has declared an income distribution of RM43 million for 17 trust funds from January to May this year.
— The Borneo Post

RHB Bank aims for 10% share of mortgage market by year-end
RHB Bank Bhd is optimistic of capturing a 10% share of the mortgage market by the end of 2018, from 9.1% in December 2017, and has planned three major mortgage-specific initiatives this year to continue differentiating itself from its peers.
— The Sun Daily

June’s CPO stock to be flat, strong demand surge for palm oil expected
Malaysia’s crude palm oil (CPO) inventory for June has been projected by analysts to either be flat or even decline, while also expecting limited likelihood of a strong demand surge for Malaysian palm oil going forward.
— The Borneo Post

Nestlé to review media agencies in Malaysia, Singapore
Food and beverage manufacturer Nestlé (Malaysia) Bhd will be conducting a review of media agencies for its businesses in Malaysia and Singapore.
— New Straits Times

House prices in Malaysia up 5.8% in 12 months to March
House prices in Malaysia rose 5.8% for the 12-month period ended March 2018, according to Knight Frank’s Global House Price Index report.
— The Sun Daily

New Bank Negara governor identified
The government has identified a potential candidate for the governor of Bank Negara.
— The Star Online

The credit trap of paying the monthly minimum
It may be tempting to just pay the monthly minimum due on your credit card statement. After all, it helps with your cash flow. Unfortunately there are consequences of paying just the minimum each month – you will incur interest charges and it will take you longer to settle your outstanding balance.
— The Borneo Post

Gold price swings take shine off Poh Kong Q3 results
Poh Kong Holdings Bhd’s net profit for the third quarter ended April 30, 2018 fell 41.8% to RM4.31 million from RM7.4 million a year ago, as the fluctuation of gold prices affected the group’s operating profits.
— The Sun Daily

PTSB inkes JV agreement for residential, commercial development
Tiger Synergy Bhd’s (TSB) unit, Pembinaan Terasia Sdn Bhd (PTSB), has signed a joint-venture (JV) agreement with Harapan Handal Sdn Bhd (HHSB) to undertake a residential and/or commercial development project in Klang, Selangor.
— New Straits Times

OCR sells rubber, baby products firm
OCR Group Bhd today entered into a share sale agreement with a purchaser for the disposal of its 100% equity interest in Takaso Rubber Products Sdn Bhd for RM8 million cash.
— The Sun Daily

StanChart Malaysia to grow digital banking to 65 pct of client base
Standard Chartered Malaysia is on track to fulfilling its strategy to become a digital, agile and lean bank.
— The Borneo Post

 

Feature photo Michael Coghlan

 

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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