Malaysia Morning News For March 28

Malaysia’s Rubber Export To China Rose 80 Per Cent In 2017
Malaysia’s rubber export to China rose 80 per cent to RM6.6 billion or 875,000 tonnes last year.
— Malaysian Digest

Maybank sees stable growth for its three home markets
Malayan Banking Bhd expects its three “home markets” – Malaysia, Indonesia and Singapore – to continue seeing stable growth this year, after posting a record-breaking 2017.
— New Straits Times

TNB inks six solar power purchase agreements
Tenaga Nasional Bhd (TNB) has signed six large-scale solar (LSS) photovoltaic power purchase agreements (PPAs) with special-purpose companies (SPCs) set up by the winners of a bidding exercise organised by the Energy Commission in the first quarter of 2017.
— The Star Online

Malaysia’s economy ‘incredibly resilient’
What is striking about the 2017 annual report of the National Transformation Programme is not so much the headline-grabbing, big-picture figures and trends shown.
— New Straits Times

MIDA Official On Whirlwind Visit To Promote Investments To Malaysia
A senior Malaysian Investment Development Authority (MIDA) official, who has undertaken a whirlwind tour of several countries to highlight investment opportunities to local companies in Malaysia’s hospitality and healthcare sectors, has been making several head-ways including at his stop here in Germany.
— Malaysian Digest

Malaysian palm oil price down on stronger ringgit, production outlook
Malaysian palm oil futures edged down at the end of the trading day on Tuesday as a stronger ringgit and expectations of a rise in output in the coming months weighed on the edible oil’s prices.
— The Star Online

Malaysia Studying Possibility Of Having FTA With Brazil
Malaysia is studying the possibility of establishing a free-trade agreement (FTA) with Brazil, International Trade and Industry Ministry Secretary-General Datuk Seri J Jayasiri said.
— Malaysian Digest

Malaysian exporters expanding fast on Tmall Global platform
Tmall Global, Alibaba Group’s online business platform, expects Malaysia to continue expanding as one of the fastest growing exporters selling into China.
— The Sun Daily

Local authorities projects must use Industrial Buildings System (IBS)
The government has proposed to make Industrial Buildings System (IBS) mandatory for all new public development projects under local authorities’ contracts.
— New Straits Times

Malaysia Well-Poised As Green Finance Centre — RAM
RAM Ratings Services Bhd sees Malaysia as a leading and sustainable green finance centre, based on the country’s solid foundation of over three decades of well-orchestrated government and regulatory initiatives.
— Malaysian Digest

SDB unveils new Brand Manifesto
Boutique property developer Selangor Dredging Bhd (SDB) recently released a seven-point brand manifesto outlining its values, principles and beliefs, part of its ongoing efforts to highlight that the company ‘walks the talk’.
— New Straits Times

SECOS Group secures site in Malaysia for bioplastics manufacturing facility
If the plant is fully utilised it can generate an estimated $40 million in sales per annum.
— Proactive Investors

Bank Rakyat declares 16% dividend payout
Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has declared a dividend of 16% for financial year ended Dec 31, 2017 compared with 15% in the previous year.
— The Star Online

GDB makes lukewarm debut on ACE market
Construction player GDB Holdings Bhd which saw a 2.5 sen or 7.1% discount on its first trading day on the ACE Market of Bursa Malaysia, is banking on projects on its current orderbook for an increased revenue contribution.
— The Sun Daily

New Forests expands investment in Malaysia’s eucalyptus plantation
Agriculture and timberlands investor New Forests Asset Management has made an additional equity investment in Malaysia’s Acacia Forest Industries (AFI), which owns a eucalyptus plantation in Sabah, for an undisclosed amount.
— DealStreetAsia

MAHB exits Maldives airport project
Malaysia Airports Holdings Bhd MAHB) has sold off its entire 23% stake in an airport in Maldives, including its receivables and loans, to joint venture partner GMR Holdings for RM28.5mil cash.
— The Star Online

Yinson’s RM4.4b Vietnam job suspended
Integrated offshore services provider Yinson Holdings Bhd’s scheduled work programme for the Ca Rong Do Field Development – Block 07/03 Offshore Vietnam (CRD field) has been suspended for the time being due to alleged force majeure event.
— The Sun Daily

Malaysia: UMW’s bid to acquire Perodua hits speed bump as MBMR rejects offer
Malaysia-based investment holding firm UMW Holdings Berhad has announced that its proposal to acquire a 50.07 per cent equity interest in MBM Resources Bhd (MBMR) has been rejected by the latter’s shareholders.
— DealStreetAsia

March 27: Ringgit closes at 8-week high against US dollar
The ringgit closed at a high of 3.8755/8785 against the US dollar today – a level last seen on Jan 26 this year – supported by subsiding fears of a trade war between the US and China, and rising crude oil prices.
— New Straits Times

Nine Malaysians in Forbes 2018 ‘30 Under 30 Asia’ list
Nine young Malaysians made it to the Forbes third annual “30 Under 30 Asia” list, featuring 300 young disruptors, innovators and entrepreneurs across Asia, all under the age of 30, who are challenging conventional wisdom and rewriting the rules for the next generation.
— The Sun Daily

Feature photo Jakub Michankow

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