Malaysia Morning News For March 5

Malaysia Morning News For March 5

Malaysia morning newsUS tariff on steel, aluminium imports will impact Malaysia
The imposition of tariffs on the import of steel and aluminium products by the United States (US) will also impact Malaysia.
— New Straits Times

Malaysia’s TNB acquires 80% in two UK renewable energy firms for $235.6m
Malaysian state-owned power company Tenaga Nasional Bhd (TNB) has acquired 80 per cent stake in two UK-based renewable energy companies — GVO Wind Ltd and Bluemerang Capital Ltd – for an enterprise value of about $235.6 million (RM923 million).
— DealStreetAsia

No free trade agreement if EU bans palm oil: Mah
Malaysia’s free trade agreement talks with the European Union (EU) must address trade barriers that discriminate palm oil because this is a priority, a Cabinet minister said.
— New Straits Times

RHB shifts focus back to Malaysia amid digital push
RHB Bank Bhd has shelved plans to become a banking powerhouse in the Association of Southeast Asian Nations (Asean) region by 2020 as it focuses on growing its Malaysian business.
— The Edge Markets

MTC allocates RM7mln for import assitance programme
The Malaysian Timber Council (MTC) has allocated RM7 million for its Import Assistance Programme (IAP) this year, up from RM5 million last year.
— New Straits Times

Petronas: Biggest risk now is stronger oil price
Petroliam Nasional Bhd (Petronas), which saw its net profit soar 91% last year, considers the biggest risk in the horizon to be the improved oil price which looks to already be making oil and gas players abandon hard-won cost efficiencies achieved over the last three years.
— The Sun Daily

PM Najib : Malaysia development gauge includes per capita income, people’s happiness
Prime Minister Datuk Seri Najib Tun Razak said he wanted to make Malaysia one of the top 20 countries in the world in terms of its development, and at the same time ensure that the people live happily.
— The Edge Markets

CIMB introduces cross-border solutions for Malaysia-Singapore customers
CIMB Bank Bhd and CIMB Islamic Bank Bhd have introduced the cross-border solutions for seamless and efficient cross-border banking transactions for both CIMB accounts in Malaysia and Singapore.
— New Straits Times

Taiwan’s Agriculture Minister Promotes Agricultural Goods in Malaysia
A delegation led by Council of Agriculture Minister Lin Tsung-hsien from Taiwan on March 2 visited several retailers in Kuala Lumpur that have been selling Taiwan-produced agricultural products, to gain a deeper understanding of the local consumer demand and actual sales volume.
— Business Wire

BNM aims to cut cost of sending funds in Sabah to 3pc
Bank Negara Malaysia (BNM) aims to reduce the cost of remitting funds in Sabah from 4.5 per cent to three per cent in the next two years, said Director of Money Services Business Regulation Department, Nik Mohd Din Nik Musa.
— Malay Mail

Australia freezes $328k in senior Malaysia cop’s account
A senior Malaysian police officer has had A$320,000 (S$328,000) in his bank account frozen by the Australian authorities on suspicion of money laundering.
— The Edge Markets

Malaysia’s business performance hints promising outlook
Overall Malaysia’s business performance is expected to continue at strong pace given that overall business confidence registered double digit growth for three consecutive quarters, according to the Business Tendency Survey.
— New Straits Times

Pushing the business and political nexus too far is bad
JUST a few months ago, we had an Umno division leader smashing beer bottles at the gates of the Selangor Government’s state secretariat over its decision to allow Octoberfest to be held in the state.
— The Star Online

Ekuinas-backed PE firm COPE plans to diversify LP base beyond Malaysia
Malaysia-focused private equity firm COPE (formerly known as CMS Opus PE) plans to diversify its base of investors or Limited Partners (LP) to foreign institutional investors in addition to the present cohort of local LPs.
— DealStreetAsia

Renewed Support Expected For Malaysia Stock Market
The Malaysia stock market has alternated between positive and negative finishes through the last nine trading days since the end of the five-day winning streak in which it had gathered almost 40 points or 2.2 percent.
— Nasdaq

 

Feature photo Bernard Spragg. NZ

 

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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