Malaysia Morning News For June 28

Malaysia Morning News For June 28

Malaysia morning newsMalaysia 1MDB: Seized tiaras, cash and Hermes bags ‘worth $273m’
Malaysian police have seized a trove of jewellery, handbags and cash worth up to $273m (£206m) from properties linked to former prime minister Najib Razak and his wife Rosmah Mansor.
— BBC News

Ultra-luxury Bijan bag seized from Najib-linked condos from ‘most expensive store’ in the world
A “special order” bag from The House Of Bijan seized from condos linked to former prime minister Datuk Seri Najib Razak comes from “the most expensive store” in the world.
— The Nation

Dr M: Govt may replace ringgit notes with new ones to fight corruption
The government is looking to replace the current currency notes with new ones to combat corruption.
— The Star Online

Hadi’s Lawyers Accept Nik Abduh Recording Is Genuine After All
Lawyers, acting for PAS president Hadi Awang in a legal case being waged in London against Sarawak Report, have now conceded that a controversial recording said to be of a senior PAS MP, Nik Abduh, is genuine.
— Sarawak Report

Country Heights to raise RM1b to finance four projects
Country Heights Holdings Bhd (CHHB) plans to raise RM1 billion either through direct borrowings, bond issuance or strategic partnerships to finance four project launches.
— The Sun Daily

Countries should help Dr Mahathir reform Malaysia, says opinion piece
GOVERNMENTS that had had a prickly relationship with Malaysia under Dr Mahathir Mohamad’s previous government must not stop engaging with the country on account of his past as an authoritarian leader, an opinion piece in the Nikkei Asian Review said.
— The Malaysian Insight

Hong Leong Bank launches digital biz solutions suite
The entrepreneurship journey for small and medium-sized enterprises (SMEs) in Malaysia can be daunting as market increasingly demands greater agility and speed from these businesses.
— The Borneo Post

Borneo Oil disposes mining unit for RM10m
Borneo Oil Bhd’s unit, Borneo Oil and Gas Corporation Sdn Bhd (BOG), has disposed its entire stake of 304,000 shares, representing 95 per cent of its equity interest, in Jusra Mining Merapoh Sdn Bhd for RM10 million.
— New Straits Times

Malaysian stocks available at compelling valuations rising
A number of stocks looking attractive on valuations are rising as the FTSE Bursa Malaysia KLCI Index’s price-to-earnings ratio has fallen below the historical average of 16 times amid continued selling by foreign investors, Credit Suisse analyst Danny Goh writes in note.
— The Star Online

Yinson records RM60m Q1 net profit
Yinson Bhd has reported a net profit of RM60.6 million for the first quarter (Q1) ended April 30, 2018, from RM60.2 million recorded in the same period last year.
— New Straits Times

Malaysian debt risk on uptrend
The risk on Malaysian debt has increased, with the credit default swap (CDS) rising to a one-year high amid concerns on the country’s macroeconomic outlook.
— The Star Online

Berjaya Land posts net loss of RM123.63m for FY18
Berjaya Land Bhd recorded a net loss of RM123.63 million for the financial year ended April 30, 2018 from a net profit of RM411.22 million in the 2017 financial year.
— New Straits Times

‘Malaysia’ license plates bidding opens Aug 1, new system to be used
The Transport Ministry will launch a pionering e-bidding system on Aug 1 for the special Malaysia series vehicle number plates for Merdeka Day.
— New Straits Times

Malaysian firm secures $100m eSwatini road tender
The Probase Group of Companies based in Malaysia has been awarded a $100 million tender for the first phase of tarring a 200km road in the kingdom of eSwatini, a senior official in Mbabane disclosed on Wednesday.This has been made possible through a bill that was passed by Parliament two weeks ago and eventually assented to by the king.
— Journal du Cameroun

Pahang branches of PKMM, DPMM laud ECRL
The new government’s decision to proceed with the East Coast Rail Link (ECRL) brings glad tidings to the East Coast residents as well as the Pahang branches of the Malay Contractors Association of Malaysia (PKMM) and the Malay Chamber of Commerce Malaysia (DPMM).
— The Borneo Post

Alam Maritim navigates through choppy waters
Alam Maritim Bhd is looking to halve its fleet size and expects new contract wins to narrow losses with the likelihood of prolonged choppy waters ahead.
— The Sun Daily

Maybank, Maxis lead KLCI into the red
Maybank and Maxis weighed on the FBM KLCI on Wednesday on late selling pressure, mainly from foreign funds, while most key Asian markets were in the red also.
— The Star Online

Gamuda registers RM200m net profit in Q3, revenue at RM1.24b
Gamuda Bhd’s net profit grew 17.4 per cent in the third quarter (Q3) ended April 30, 2018 to RM200.69 million from RM170.93 million recorded in the same quarter a year ago.
— New Straits Times

MGB bags RM175.2m project from sister company
MGB Bhd has received a letter of intent from Kemudi Ehsan Sdn Bhd, a subsidiary of its major shareholder LBS Bina Group Bhd, to undertake construction works in Bandar Alam Perdana, Kuala Selangor, with an estimated value of RM175.2 million.
— New Straits Times

SSM wants KPMG to clarify status of 1MDB audit reports
The Companies Commission Malaysia (SSM) will be seeking further clarification from KPMG on the status of audit reports of 1Malaysia Development Bhd’s (1MDB) financial statements, following news reports that said the statements between 2010 and 2012 were inaccurate.
— The Sun Daily

OCBC officially opens Rawang branch
Selayang Member of Parliament William Leong Jee Keen officially opened OCBC Bank (Malaysia) Bhd’s (OCBC Bank) 33rd branch in the country in the affluent and vibrant township of Anggun City, Rawang.
— The Borneo Post

Citaglobal Airports’ proposal for new LCCT was supported by AirAsia
A proposal for a new low-cost carrier terminal (LCCT) to be developed at Kuala Lumpur International Airport (KLIA) was made last year by a company called Citaglobal Airports Sdn Bhd, a move which looks to have had the backing of the AirAsia group, the largest user of klia2, the current LCCT.
— The Sun Daily

EA Technique clinches two contracts from ExxonMobil
EA Technique (M) Bhd has secured two contracts from ExxonMobil Exploration and Production Malaysia Inc for the provision and operation of two fast crew boats of 25 knots for 60 people.
— New Straits Times

Kim Jong Nam murder probe slammed as ‘shoddy’ as trial in Malaysia resumes
The investigation into the assassination of North Korean leader Kim Jong Un’s half-brother was “shoddy” and “lopsided”, a Malaysian court heard on Wednesday (June 27) as the trial resumed of two women accused of the murder.
— The Straits Times

Rohingya footballers in Malaysia aim for recognition
Malaysia has been accepting Rohingya refugees but they are not given legal documentation and remain stateless.
— Aljazeera

 

Feature photo Mohd Fazlin Mohd Effendy Ooi

 

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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