Malaysia Morning News For March 1

Malaysia Morning News For March 1

Malaysia morning newsTunnel case: MACC freezes RM3.6 mil in bank accounts
The Malaysian Anti-Corruption Commission (MACC) has frozen four company bank accounts with about RM3.6 million in connection with its probe into the Penang undersea tunnel-roads project.
— Free Malaysia Today

RHB Bank’s five-year roadmap to strengthen presence in Malaysia
RHB Bank Bhd, which registered a 16% net profit growth to RM1.95bil for the financial year ended Dec 31, 2017 (FY17), has outlined its strategies in a new five-year plan, FIT22.
— The Star Online

Malaysia’s biggest lender Maybank posts 11% drop in Q4 net profit
Malaysia’s largest bank by assets, Malayan Banking Bhd (Maybank), posted on Wednesday an 11 percent decline in fourth-quarter net profit, despite a slight rise in net interest income.
— Business Insider

Indonesia seizes luxury yacht linked to 1MDB probe
Indonesia on Wednesday seized a luxury yacht on the island of Bali sought by the U.S. Department of Justice (DOJ) as part of a multi-billion dollar corruption investigation linked to Malaysian state fund 1Malaysia Development Berhad (1MDB).
— Reuters

Malaysian auto group DRB-Hicom slips back into red in Q3
DRB-Hicom on Wednesday reported an earnings decline for the October-December quarter, citing a one-off impairment charge at automaker Proton and subdued car sales.
— Nikkei Asian Review

MRCB posts RM247.3m profits on RM2.8b revenue in 2017
Malaysian Resources Corp Bhd (MRCB) posted pre-tax profit of RM247.3 million on RM2.8 billion revenue in the year ended December 2017.
— News Striats Times

Advancecon buys lands in Gombak for RM13.75m to support ongoing jobs
Advancecon Holdings Bhd is acquiring two plots of lands in an industrial area in Gombak for RM13.75 million to develop a workshop for its expanding construction fleet.
— The Edge Markets

Affin Bank Q4 profits up 31pc to RM169.5m on higher fee contribution
Affin Bank Bhd, the new holding company for the Affin Group, says fourth quarter net profit ended December 2017 jumped 31 per cent to RM169.54 million from RM129.95 million, previously.
— News Striats Times

EPF ups amount for qualified members to invest in unit trusts
The Employees Provident Fund (EPF) has raised the amount under the EPF members investment scheme (EPF MIS) for qualified members while maintaining its high performance benchmark for fund management institutions (FMIs) and unit trust funds.
— The Star Online

Microsoft Malaysia appoints new services lead
MICROSOFT Malaysia has appointed Andrew Lau (pic) as its services lead for the subsidiary, with an aim to help customers and partners to get the most out of their technology investments.
— Digital NewsAsia

Genting, Genting Malaysia shares up on special dividend
Genting Bhd and Genting Malaysia Bhd shares rose in active trading on Wednesday after the announcing record high dividend.
— The Star Online

Ewein registers losses in Q4 due to property development division
Ewein Bhd fell into the red in the fourth quarter ended December 31,2017 with a net loss of RM1.32 million, compared with a net profit of RM1.28 million a year ago, due to losses from its property development division.
— The Sun Daily

Malayan Flour Mills’ 4Q profit falls 79% on lower income from two key segments
Malayan Flour Mills Bhd’s net profit for the fourth quarter of its financial year ended Dec 31, 2017 (4QFY17) fell 79% to RM4 million from RM18.7 million a year ago, mainly on lower contribution from two segments: flour and grains trading, and poultry integration.
— The Edge Markets

Malaysia, Singapore stocks fall as Fed rate hike fears revive
Malaysia and Singapore shares declined on Wednesday after upbeat comments from the chairman of the U.S. Federal Reserve on the domestic economy rekindled concerns of higher interest rates.
— Nikkei Asian Review

Uighur detainees test Malaysia’s diplomacy
As China ramps up anti-terrorism security measures in its restive northwestern Xinjiang region, Malaysia is suddenly at the center of an extradition controversy where Beijing is bidding to leverage its economic clout for strategic favors.
— Asia Times

Robert Kuok in political spotlight after Malaysian politicians criticise ‘sugar king’
Malaysian tycoon Robert Kuok has been thrust into the political spotlight after he was accused of funding the opposition in Malaysia in a bid to set up a Chinese-based government.
— Channel NewsAsia

 

Feature photo Jakub Michankow

 

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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