Malaysia Morning News For May 8

Malaysia’s trade numbers driven by exports
MALAYSIA’S trade has not been impacted by the global trade tensions, despite the country’s lower total trade revenue recorded in March.
— The Malaysian Reserve

Foreign funds sell RM438.4mil of Malaysian shares ahead of GE14
Global investors turned net seller for the first time in four weeks in the penultimate week before the 14th General Election (GE14), according to MIDF Research.
— The Star Online

7-Eleven sees 11.5% stake traded off-market
7-Eleven Malaysia Holdings Bhd saw more off market trades today, as 130 million shares crossed off-market, representing 11.52% of the company’s total outstanding shares.
— The Edge Markets

Notes from the campaign: Johor, Selangor, Perak
A number of themes stand out in any Malaysian election campaign, and in this one especially. Here are my glimpses as the GE14 campaign picked up speed across the peninsula:
— New Mandala

The Top Economic Risks Awaiting Malaysia’s New Leader
Malaysia’s incoming leader will need to tackle a number of challenges in order to keep investors interested in an economy that’s currently booming.
— Bloomberg

6 free maps of Malaysia
Some quality maps of Malaysia can be useful to illustrate ideas or projects for your website or blog, or to create your own maps. Here is a collection of copyright or royalty free, labelled and blank maps of Malaysia to be used directly as is, or to be elaborated upon to create beautiful modern maps to suit your purposes.
— Asean Up

Matrade to promote Malaysian products and services in Xi’an
The Malaysia External Trade Development Corporation (Matrade) will be coordinating the participation of Malaysian companies at the 3rd Silk Road International Expo (SRIE) in Xi’an, Shaanxi Province, China from May 11-15.
— The Borneo Post

The changing face of electricity in Malaysia
It is increasingly hard to dispute that decarbonisation is the way forward for the energy industry. Is Malaysia on the right track?
— Eco-Business

How Malaysia Became A ‘Model’ For China’s Overseas Economic Expansion
As Malaysians prepare to elect a parliament this week, figures in an opposition alliance are suggesting that Prime Minister Najib Razak’s government has allowed too much Chinese money for projects into the Southeast Asian country, one that normally depends on exports.
— Forbes

HSS Engineers remains optimistic for 2018
Consultant HSS Engineers Bhd remains optimistic for 2018, backed by strong orderbook of RM962.5 million.
— New Straits Times

Drop in CIMB’s shares due to profit taking — MIDF
MIDF Amanah Investment Bank Bhd (MIDF Research) believed the sharp drop in CIMB Group Holdings Bhd’s (CIMB) share prices of late was due to profit taking activities, believing the bank still retains its strong fundamentals.
— The Borneo Post

Ringgit eases to 3.94 against US dollar
The ringgit slid against the US dollar today as the greenback garnered demand on the back of strong US economic data.
— New Straits Times

Malaysian workers deserve a change in government
Malaysia is potentially on the cusp of something revolutionary, where there is a real chance that a party other than BN would be elected to rule the country.
— Malaysiakini

Malaysia’s Soft Space to help Japan go cashless
Digital payments firm Soft Space Sdn Bhd (SSSB) has geared up to take its business to the next level via its alliance with Sumitomo Mitsui Financial Group (SMFG), through its wholly-owned subsidiary Sumitomo Mitsui Card Co (SMCC).
— New Straits Times

SP Setia JV plans RM11b project in Cheras
SP Setia’s Bhd 50% owned Retro Highland will undertake a public housing project for Dewan Bandar Kuala Lumpur (DBKL).
— The Star Online

Rentokil Collaborates with Ministry of Health to Increase Food Safety in Kuching
Having identified food safety in supply chains as an area for improvement, the MOH of Sarawak invited Rentokil Initial to share on how data can be used to improve pest management during their Internal Audit Seminar in Kuching, Sarawak.
— AEC News Today/ PR Newswire (media release)

More inbound tourists expected at MAHB airports
Malaysian airports are poised to handle more inbound tourists as the expected expansion of air traffic rights and relaxation of visa requirements encourage airlines to launch more flights.
— New Straits Times

Bank Islam, Petronas, SJPP ink MoU to help Petronas vendors
Bank Islam Malaysia Bhd has signed a memorandum of understanding (MoU) with Petroliam Nasional Bhd (Petronas) and Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) to provide financial solution to Petronas vendors nationwide via the SME Vendor Financing Programme aimed at benefiting the local oil and gas services and equipment (OGSE) sector.
— The Sun Daily

Lower capex won’t harm sector
The reduction in capital expenditure (capex) by Petroliam Nasional Bhd’s (Petronas) affiliates Petronas Dagangan Bhd (Petdag) and Petronas Gas Bhd (PetGas) does not indicate a gloomy sentiment for the oil and gas (O&G) this year.
— New Straits Times

Tan Chong Motor Holdings to invest RM500m
Motor vehicle distributor Tan Chong Motor Holdings Bhd is investing RM500 million to build the Tan Chong Automotive and Commercial Vehicle Hub in Bagan Datuk as part of its strategic business plan.
— New Straits Times

Going-concern issue will be addressed, says Eden Inc
Eden Inc Bhd’s external auditor Messrs Ernst & Young has issued a statement on material uncertainty related to going concern in respect of the company’s financial statements for the year ended Dec 31, 2017 after its current liabilities were found to have exceeded its current assets.
— The Sun Daily

Malaysia, Singapore shares fall as US-China trade woes weigh
Malaysia and Singapore shares fell on Monday as cautious investors ignored overnight Wall Street gains, awaiting cues from an ongoing trade spat between U.S. and China after the sparring economies fail to resolve a deadlock over tariff war.
— Nikkei Asian Review

British diplomats warned palm oil row could harm Malaysian defence deals
British government officials warned a proposed EU ban on palm oil in biofuels could harm UK defence sales to Malaysia, specifically Typhoon fighter jets, according to government emails obtained by Unearthed.
— Unearthed

Feature photo OXLAEY

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.