Malaysia Morning News For May 21

Malaysia Morning News For May 21
Estimated Reading Time: 6 minutes |

Malaysia morning newsMalaysia’s Najib denies seeking police protection
Former prime minister Najib Razak denied on Sunday (May 20) that he has sought protection from the police over the ongoing money laundering probe involving state fund 1MDB.
— Channel NewsAsia

University Malaya Tops Asean Emerging Economies University List
After storming into the 2018 Times World University Rankings with a debut in the 351-400 grouping University Malaya (UM) continues to disrupt the Asean higher education scene, unseating Thailand’s Mahidol University (MU) from the top ranked university in Asean and taking the 27th spot globally in the Times Higher Education (THE) Emerging Economies University Rankings 2018.
— AEC News Today

Malaysia: Najib Razak to face anti-graft investigators as pressure mounts
Former PM is under fire over alleged looting of state funds as police raids on his home force his wife to issue a statement denouncing media coverage.
— The Guardian

Non-Oil Trade With Malaysia Rises 23%
Iran traded $694.64 million worth of non-oil goods with Malaysia during the last Iranian year (ended March 20, 2018), which is 23.4% more compared to the year before, making the Southeast Asian nation Iran’s 25th biggest trading partner.
— Financial Tribune

Malaysia should learn from Indonesia’s reform: Anwar
Learning from Indonesia’s reform would enable an inclusive and democratic Malaysian government following the end of Barisan Nasional rule, Malaysian reformist Anwar Ibrahim has said.
— The Jakarta Post

Malaysia’s 2018 economic growth expected to remain above 5%
Malaysia’s first quarter (1Q18) gross domestic product (GDP) growth came in at 5.4% year on year, lower than the consensus projection but AmBank Research is maintaining its 5.5% GDP growth for this year as it expects private consumption and the services sectors to continue to support growth together with other areas of business activities.
— The Sun Daily

Malaysia’s Economic Fortunes Lie in the Hands of These 5 People
Malaysia’s 92-year-old Prime Minister Mahathir Mohamad is moving quickly to meet his 100-day campaign pledges that helped sweep him into office.
— Bloomberg

Malaysia Won’t Look Away From China So Soon, Despite Mahathir’s Words
Why Malaysia’s China policy is unlikely to change, for now, despite the election shock.
— The Diplomat (paywall)

Malaysian firms offer 6% discounts ahead of GST removal on June 1
Businesses in Malaysia have begun putting up 6 per cent discount offers in response to the Government’s decision to zero rate the goods and services tax (GST) from June 1.
— The New Paper

Oil prices higher than US$70 to boost Malaysia’s revenue by RM5b ringgit to RM10b a year: S&P
Oil prices higher than $70 per barrel to boost Malaysia’s government revenue by 5b ringgit to 10b ringgit a year, Andrew Wood, director at S&P Global Ratings, says in teleconference.
— New Straits Times

Malaysia: EPF pares stake in Sapura Energy; Country Heights divests 5% in unit
Malaysia’s Employees’ Provident Fund has ceased to be a substantial shareholder of Sapura Energy Bhd, while local property developer Country Heights Holding Bhd has divested 5 per cent stake in its healthcare unit to focus on its core business.
— DealStreetAsia

Malaysia’s current account to remain in surplus for 2018
With Malaysia’s Balance of Payments recording a higher surplus of RM15 billion in current account for the first quarter of 2018 (1Q18), analysts are expecting the current account to remain in surplus for 2018.
— The Borneo Post

Fall of a Malaysian Dynasty Puts Target on Alleged 1MDB Mastermind
The alleged mastermind behind one of this decade’s greatest global financial scandals was seen earlier this month relaxing on the Thai resort island of Phuket.
— The Wall Street Journal

Market volatility to spur more share buybacks
More companies and substantial shareholders are expected to launch share buybacks, at a time when share prices have tumbled as the equity market goes through a period of volatility amid changes in the government and policies following the surprise win by Pakatan Harapan in the 14th general election.
— The Sun Daily

Exclusive: Navis Capital invests in Malaysian construction equipment maker Dscaff
Malaysia-headquartered private equity firm Navis Capital Partners has invested an undisclosed amount into Kuala Lumpur-based provider of scaffolding and construction equipment solutions Dscaff from its $1.5-billion Navis Asia VII, a fund that also marked its first exit recently.
— DealStreetAsia

PH’s GE14 manifesto a catalyst for recovery in sentiments
The new government’s 14th General Election (GE14) manifesto is a catalyst for a recovery in consumer spending which reduces occupancy risks at the malls, the research arm of Maybank Investment Bank Bhd (Maybank IB Research) observed in its latest Malaysia Real Estate Investment Trusts (REITs) report.
— The Borneo Post

Perisai Petroleum lays out plan to cut debt and raise cash
Practice Note 17 Perisai Petroleum Teknologi Bhd (PPTB) on Friday announced that its plans to cancel off accumulated losses, issue shares and irredeemable and redeemable unsecured loan stocks to settle debt and a rights issue to raise funds to focus its business on the oil drilling rig of the group and the FPSO (floating production storage and offloading) unit, namely Perisai Kamelia, as part of its business rationalisation exercise.
— The Sun Daily

How Ipoh is becoming a new Malaysia food destination, to rival Kuala Lumpur and Penang
Swinging off the motorway into Ipoh’s outskirts, we pass massive limestone outcrops jutting skyward. Those are soon blocked from view by colossal hotel and office blocks that seem to have risen as man-made rivals.
— South China Morning Post

Malaysia Bourse Likely To Remain Rangebound
The Malaysia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had advanced more than 20 points or 1.2 percent.
— Nasdaq

CIMB bags six awards for cash management capabilities, digital banking initiatives
CIMB Bank Bhd (CIMB) and PT Bank CIMB Niaga Tbk (CIMB Niaga) recently won a total of six awards at The Asset Triple A Treasury, Trade, Supply Chain and Risk Management Awards 2018.
— The Borneo Post

Bond money never reached TRX City
TRX City Sdn Bhd never got the money it was supposed to receive from the US$3bil that was raised in 2013, although different statements in 2013 said that money would be used to develop the 70 acres of land.
— The Star Online

How digitalisation is changing e-commerce
THE Internet has revolutionised many aspects of our lives, from the way we work, socialise and even the way we shop.
— Digital News Asia

Indonesia, Malaysia show Southeast Asia’s importance
Bloody, murderous terrorist attacks in Indonesia in mid-May have provided the Islamic State with another opportunity to claim victory. Two families including young children carried out suicide bombings in Surabaya, the second-largest city in the nation.
— The Augusta Chronicle

 

Feature photo Michael Coghlan

 

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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

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

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