Malaysia morning news for November 28

Malaysia morning news for November 28

Malaysia morning newsPetronas to hike govt payout as Q3 profit jumps 43%
Petroliam Nasional Berhad, or Petronas, today said it will increase its dividend payout to the government after its third-quarter net profit jumped on higher revenue and oil prices.
— FMT

Malaysian retailers target 5pc retail sales growth in 2019
The Malaysia Retail Chain Association (MRCA) expects retail sales to grow by 5 per cent in 2019 in line with nation’s gross domestic product (GDP) growth.
— Malay Mail

Airbnb in discussions with authorities to collect tourism tax
Airbnb, an online marketplace for hospitality service, is in discussions with the relevant authorities and ministries to implement the voluntary collection agreement (VCA) to collect tourism tax.
— The Borneo Post

Government optimistic of meeting 20pc renewable energy target over next seven years
The government is optimistic of achieving its target of 20 per cent electricity generation from renewable energy (RE) sources, equivalent to 3,991 megawatt (MW), over the next seven years via various initiatives, programmes and policies.
— Malay Mail

Malaysia Automotive Institute seeks to bring blockchain to automotive sector
The Malaysia Automotive Institute (MAI) has signed a Memorandum of Agreement (MoA) with Cryptovalley Malaysia (CVM) to initiate blockchain applications in the automotive sector.
— Token Post

Petroleum companies have two months to change to B10
Petroleum companies have two months to switch from the current B7 (a blend of seven per cent palm methyl ester and 70 per cent petroleum diesel) to B10 biodiesel before its mandatory implementation on Feb 1, 2019.
— The Borneo Post

Vietnamese women arrested for bomb joke at Malaysia airport
Two Vietnamese women will stand trial for claiming at Malaysia’s Kuala Lumpur airport that they were carrying bombs.
— VnExpress

Malaysia exploring new markets for palm oil, says minister
Primary Industries Minister Teresa Kok said palm oil exports to Bermuda accounted for 159 tonnes, African countries (237 tonnes) and the Philippines (331,990 tonnes).
— Malaysian Insight

Thai Negotiator Seeks Malaysian Help Getting BRN Rebel Leader to Peace Talks
Thailand’s new chief negotiator said Tuesday he had asked the Malaysian facilitator of Deep South peace talks to invite the leader of the most powerful insurgent group to the table so that all the armed separatist organizations would be represented.
— Benar News

Greenpeace Malaysia: Country has become the world’s rubbish bin
The US, Japan and the Britain are the three biggest plastic waste exporters to Malaysia, accounting for 53% of the 754,000 tonnes of plastic waste the country imported from January to July 2018.
— The Star Online

Last Chance to Bid on $250 Million Yacht Seized From Malaysian Fugitive Jho Low
Wednesday marks the last auction day for the Equanimity yacht once owned by fugitive businessman Low Taek Jho and formerly used to host parties featuring the likes of socialite Paris Hilton and Australian model Miranda Kerr.
— Time

Lynas halts production at Malaysian rare earths facility
Lynas Corp is planning to temporarily shutdown production at its rare earths plant in Malaysia after failing to secure regulatory approval to increase annual production levels from local authorities.
— Financial Times

More downside risk to Malaysia’s economic growth — MIER
External trade concerns, weak electrical and electronic (E&E) exports and poor demand in the oil and gas sector are adding downside risk to Malaysia’s economic growth.
— The Edge Markets

Sime Darby Property to lower prices of unsold units
Sime Darby Property Bhd is looking to lower the prices of its unsold units after net profit for the three months ended Sept 30 registered a sharp drop.
— The Star Online

4 policemen among those arrested in raid on Malaysia drug lab
Four police officers were among nine detained following the discovery of the largest drug lab thus far in Selangor on Wednesday (Nov 21).
— Channel NewsAsia

GentingM, Genting see RM4.89b erased from market cap over US$1b suit
Genting Malaysia Bhd and Genting Bhd saw a combined RM4.89bil erased from their market capitalisation at midday on Tuesday following the fallout from its US$1bil suit against Walt Disney Co and Twenty-First Century Fox Inc over the cancellation of the first Fox-branded theme park
— The Star Online

Serba Dinamik posts higher net profit of RM83.2m in Q3
Serba Dinamik Holdings Bhd reported higher net profit in the third quarter (Q3) ended Sept 30, 2018 to RM83.2 million from RM68 million recorded in the same period last year.
— New Straits Times

Criminals behind riot at Malaysia Hindu temple will be punished severely: PM Mahathir
Malaysian Prime Minister Mahathir Mohamad on Tuesday (Nov 27) vowed tough action against those responsible for the riots at a Hindu temple in Selangor.
— Channel NewsAsia

Hektar REIT’s rental reversions propel NPI up 14pct
Hektar Asset Management Sdn Bhd today announced its rental reversions efforts propelled Hektar REIT’s net property income (NPI) to hit RM19.5 million in the third quarter ended Sept 30, 2018 (Q3), an increase of 14 per cent from the same quarter last year.
— New Straits Times

Myanmar seizes boat with 93 Rohingya fleeing to Malaysia
UN-mandated investigators have accused Myanmar’s army of ‘genocidal intent’ and ethnic cleansing.
— Aljazeera

Dutch Lady’s Q3 net profit at RM34.21m
Dutch Lady Milk Industries Bhd’s net profit improved to RM34.21 million in the third quarter ended Sept 30, 2018 from RM32.58 million in the same period last year.
— New Straits Times

Malaysia, Japan ink halal cooperation pact
Malaysia and Japan have signed a memorandum on halal cooperation to pave the way for more business opportunities in the halal industry between the two countries.
— Malay Mail

Malaysia to deport 4 Finns for distributing Christian items
Four Finnish tourists will be deported and barred from returning to Malaysia after they were detained for distributing Christian materials on a resort island in the Muslim-majority country, police said Tuesday.
— Washington Post

RHB Q3 net profit jumps to RM578m
RHB Bank Bhd’s net profit for the third quarter (Q3) ended September 30, 2018, rose to RM578.69 million from RM488.83 million chalked up in the same quarter last year.
— Malay Mail

PNB to continue building resilient portfolios
Permodalan Nasional Bhd (PNB) will continue to build resilience and buffer in its portfolios, especially when the environment is stable, to enable it to withstand any great upheaval that can happen in the future.
— The Borneo Post

TIME dotCom’s profit soars to RM80m
TIME dotCom Bhd’s net profit soared to RM79.98 million in the third quarter (Q3) ended Sept 30, 2018, from RM28.23 million in the year-ago period as it boosted its revenue on improved cost efficiencies and made a net gain on foreign exchange (forex).
— New Straits Times

CHHB’s earnings skyrocket in Q3
Country Heights Holdings Bhd’s (CHHB) net profit jumped 288-fold in the third quarter ended Sept 30, to RM131.17 million from RM454,000 in the same quarter last year, after RM127.4 million adjustments were made to investment properties to reflect their fair value.
— The Sun Daily

Kumpulan Fima’s Q2 net profit rises to RM32.05m
Kumpulan Fima Bhd’s net profit for the second quarter ended Sept 30, 2018, almost tripled to RM32.05 million from RM11.71 million a year earlier due to a significant write back of impairment loss on property, plant and equipment.
— New Straits Times

Magnum in red due to tax penalty
Magnum Bhd posted a net loss of RM70.51 million in the third quarter ended Sept 30 compared with a net profit of RM63.28 million a year ago mainly due to a whopping RM148.1 million tax penalty incurred in the quarter under review.
— The Sun Daily

SPD’s Q1 net profit drops to RM29m, revenue grew to RM480m
Sime Darby Property Bhd’s (SDP) net profit dropped to RM28.79 million in the first quarter (Q1) ended September 30, 2018 from RM421.69 million a year ago.
— New Straits Times

 

Feature photo Sham Hardy

This week’s Malaysia morning news feature photo acknowledges International Day of Solidarity with the Palestinian People, November 29.

 

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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