Malaysia Morning News For March 20

Malaysia Morning News For March 20
Estimated Reading Time: 4 minutes |

Malaysia morning news

US$1 billion bridging loan for Petronas Chemicals
Petronas Chemicals Group Bhd has executed a bridging loan agreement of US$1 billion (RM3.9 billion) with external lenders comprising local and international banks, being one of the conditions for the divestment of its 50% stake in PRPC Polymers Sdn Bhd to Saudi Arabian Oil Co (Saudi Aramco).
— The Sun Daily

Infrastructure, refinancing to drive capital raising in Malaysia
THE Malaysian capital market grew 12.6% to 3.2 trillion ringgit (US$816.33 billion) in 2017 with the total capital raised amounting to 146.6 billion ringgit driven by better economic fundamentals and a recovery in corporate earnings.
— The Assert

Finance Ministry studying proposal to tax tech giants
The Ministry of Finance is conducting a detailed study on the proposed taxation on giant technology companies and social media such as Google and Facebook.
— The Borneo Post

Luster Industries proposes diversification into property, construction
Luster Industries Bhd has proposed to undertake the diversification of its business to include property development and construction.
— The Edge Markets

February vehicles sales volume drops 4pct
New vehicles sales was 4.4 per cent, or 1,877 units lower to 40,578 units for February than 42,455 units recorded in the same month last year.
— New Straits Times

TNB signs two PPAs for solar projects
Tenaga Nasional Bhd (TNB) has signed two large-scale solar (LSS) photovoltaic power purchase agreements (PPAs) to set up two facilities with a total capacity of about 60Mwac.
— The Sun Daily

Malaysia experiences 80.1pc growth in in ICT in 2017
The significant increase in internet usage in Malaysia, with the penetration rate of 80.1 per cent for individuals aged 15 years and above in 2017, shows information technology and communication (ICT) is experiencing rapid growth in Malaysia.
— New Straits Times

Malaysian exporters growing fast on China’s Tmall global platform
Malaysia is among the fastest-growing exporters selling into China’s Tmall Global, a cross-border business-to-consumer (B2C) retail platform of Alibaba Group’s Tmall.com.
— The Star Online

MAHB looking at expanding contact pier
Malaysia Airports Holdings Bhd (MAHB) expects to kick-start its three-year expansion programme of the Kuala Lumpur International Airport (KLIA) main terminal next year
— New Straits Times

Malaysian gold jewellery exports to drop to RM4bil this year
The Penang Goldsmith Association (PGA) is projecting the value of Malaysia’s gold jewellery exports to be about RM4bil for 2018, a decline of about 40% from the RM6.7bil achieved in 2017.
— The Star Online

MAVCAP, CCB sets up green tech fund worth RM782m
Malaysia Venture Capital Management Bhd (MAVCAP) has achieved a significant milestone with the signing of the Memorandum of Understanding (MoU) with China Construction Bank Corporation (CCB) to set up the ASEAN Green Technology Fund worth US $200 million (RM782 million).
— New Srtaits Times

Malaysian developer Eco World completes acquisition of 70% stake in 12 UK sites
Bursa Malaysia-listed property developer Eco World International on Monday announced that it has completed the acquisition of a 70 per cent interest in a joint venture that will develop 12 new projects in the UK.
— DealStreetAsia

It’s business as usual at Sa Sa Malaysia
Cosmetics retailer Sa Sa may have seen the closure of its Taiwan operations recently, but the move is not expected to affect the Malaysian business under Hong Kong Sa Sa (M) Sdn Bhd (Sa Sa Malaysia), said Sa Sa regional general manager for Malaysia & Singapore business Lisa Soon.
— The Sun Daily

RHB Bank’s iSmart tool wins award
RHB Bank Bhd (RHB) recently won the ‘Excellence in SME Banking’ and ‘Best Innovation Programme’ awards at the 9th Retail Banker International (RBI) Asia Trailblazer Summit 2018, for its first-of-its-kind tool for SME sales force, iSmart.
— New Straits Times

 

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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

Sreypov Men

junior writer/ trainee journalist at AEC News Today
Sreypov Men is currently a senior student at Institute of Foreign Languages where she is majoring in International Relations. She commenced as an intern and was appointed as a junior writer/ trainee journalist on April 2, 2018
Sreypov Men

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