Malaysia morning news for February 21

Malaysia morning news for February 21

Malaysia morning newsMalaysia launches national wage index
The National Wage Index will be a guideline to measure changes in the salaries of workers in Malaysia, said Human Resources Minister M. Kulasegaran (pic).
— The Star Online

Putrajaya warned against working with tobacco industry-funded lobby groups
The Malaysia Medical association (MMA) has warned the federal government today against working with groups that are stealthily being funded by tobacco companies.
— Malay Mail

‘Sarawak construction sector behind on BIM innovation’
The Sarawak construction sector is behind on Building Information Modelling (BIM), as seen in the latest round of training in Building Information Modelling (BIM) in January.
— The Borneo Post

January CPI seen falling for first time since 2009
Malaysia’s consumer prices are expected to fall in January, the first decline in nearly a decade, amid a drop in domestic fuel prices, a Reuters poll showed today.
— The Sun Daily

Public Bank falls 5pc to RM1.4 billion in 4Q 2018
Public Bank Bhd’s fourth quarter net profit falls 5.4 per cent to RM1.41 billion, bogged down by higher other operating expenses and non-operational foreign exchange loss.
— New Straits Times

Heineken’s 2018 net profit up 4.6%
Heineken Malaysia Bhd, which posted a 4.6% jump in its net profit for the financial year ended Dec 31, 2018 (FY18), remains cautious about its outlook given the challenging environment due to intense competition, implementation of the sales & service tax (SST), and the continued presence of contraband beer in the market.
— The Sun Daily

MARC named Malaysia’s rating agency of the year by The Asset
Malaysian Rating Corp Bhd (MARC) was today named Malaysia’s Rating Agency of the Year for 2018 by The Asset at the publication’s Triple A Rating Agency of the Year Awards ceremony in Hong Kong.
— The Edge Markets

Suspected MRT lift attacker shaved head to avoid detection, Malaysia police say
The man who is suspected of attacking and robbing a woman in an MRT lift in Malaysia shaved his head to avoid being detected by authorities, said police on Tuesday (Feb 19).
— Channel NewsAsia

Malaysia’s Defence Ministry lost over $160m from land swap deals, says minister
Malaysian Defence Ministry lost more than RM500 million (S$166 million) from several land swap deals worth RM4.75 billion, said its minister Mohamad Sabu.
— The Straits Times

Malaysia aims to have 70% of babies breastfed by 2025
The Malaysian health ministry aims to increase the percentage of babies being exclusively breastfed to 70 per cent by 2025.
— Channel NewsAsia

Malaysia to try case against former Goldman banker before US extradition
Malaysia’s home affairs minister has said the the extradition to the US of a former Goldman Sachs banker embroiled in the multi-billion dollar scandal linked to Malaysian state investment fund 1MDB may be pushed back until after he is tried in Kuala Lumpur.
— Financial Times

Malaysia’s Defence Ministry lost over $160m from land swop deals, says minister
Malaysian Defence Ministry lost more than RM500 million (S$166 million) from several land swop deals worth RM4.75 billion, said its minister Mohamad Sabu.
— The Straits Times

Is Malaysia Ready for a Formula 1 Revival?
Prime Minister Tun Dr Mahathir Mohamad revealed his hopes to revive Formula One in Malaysia after a two-year absence of the Malaysian Grand Prix at Sepang International Circuit (SIC), bringing newfound hope to fans around the region.
— Unreserved Media

QSR Brands and AIR launches country’s first Shariah compliant water recycling plant
QSR Brands (M) Holdings Bhd (QSR Brands) has become the first manufacturer in Malaysia to install a Shariah-compliant water recycling plant.
— New Straits Times

Malaysia to host first WorldChef Battlefield competition
It will be another first for Malaysia this April when it hosts the inaugural international culinary championship known as WorldChef Battlefield – Battle of the Masters (WCB 2019). The culinary championship is the first of its kind not just in Malaysia but the whole of Asia and will take place from April 4 to 7.
— Star2

CCM Duopharma unveils new corporate identity and expects to receive GST refunds from govt
CCM Duopharma Biotech Bhd (CCM Duopharma) has today unveiled its new corporate identity as Duopharma Biotech Bhd after obtaining shareholders’ approval in line with its integral corporate rebranding exercise.
— New Straits Times

Malaysia nears deal with China to revive US$20b rail project
Malaysia is making progress in talks with China to revive a rail project that Prime Minister Mahathir Mohamad’s government said it would cancel, according to Foreign Minister Saifuddin Abdullah.
— Business Times

Malaysia urges Pakistan to produce quality goods
Malaysia is keen to enhance bilateral trade with Pakistan as both countries have the potential to trade many items, said Malaysian High Commissioner in Pakistan Ikram bin Muhammad Ibrahim.
— Tribune

CCM Duopharma still collecting GST refunds
CCM Duopharma Biotech Bhd (CCMD) is still in the process of collecting the Goods and Services Tax (GST) refunds from the government.
— The Sun Daily

Report: Prices not going down with SST, says deputy finance minister
Deputy Finance Minister Datuk Amiruddin Hamzah has reportedly admitted that the implementation of the Sales and Services Tax (SST) has not managed to reduce the prices of goods.
— Malay Mail

Current oil price recovery to provide further upside to Hibiscus Petroleum’s earnings
With oil prices currently stable at above US$60 a barrel, analysts expect it will provide further upside to Hibiscus Petroleum Bhd’s earnings.
— New Straits Times

MY Digest: Nexea backs 3 startups; Boustead sells hotel; SDB announces share swap
Malaysia-based accelerator and VC firm Nexea has invested in three local startups. On the corporate side, Boustead Holdings Bhd is disposing of a hotel worth RM197 million ($48.2 million) while Selangor Dredging Bhd has announced a share swap as part of a restructuring exercise in preparation for an initial public offering in Singapore.
— DealStreetAsia

Ahmad Zaki units bag RM150.5mil contract
Ahmad Zaki Resources Bhd has bagged a RM150,5mil contract from Rantau Properties Sdn Bhd.
— The Star Online

Matrix Concepts records 31% slide in Q3 net profit to RM48.61mil
Matrix Concepts Holdings Bhd experienced a 31% drop in net profit for the third quarter ended Dec 31, 2018, as compared to the year-ago quarter due to a product mix that yielded a lower margin.
— The Star Online

Musa’s defence team seeks to transfer corruption case to High Court
The defence team of former Sabah Chief Minister Tan Sri Musa Aman, who is facing 35 counts of corruption involving US$63.3 million (RM263 million) in connection with timber concession contracts in Sabah, has filed an application to transfer the case to High Court.
— Malay Mail

Global sovereign sukuk issuance to rise to US$100 billion by 2020
Moody’s Investors Service Ltd expects total gross sovereign sukuk issuance, including short-term securities, will recover in 2019 and surpass its record-high volumes of US$93 billion (US$1= RM4.088) reached in 2012, by 2020.
— The Borneo Post

Malaysian construction companies should expand to Uganda, says deputy minister
THE Malaysian construction fraternity needs to strongly consider and support bidding for and tapping into niche opportunities in the fast-growing construction industry in Uganda.
— The Malaysian Insight

Illegal recycling centre still at it
AN illegal recycling centre is still operating in Brickfields here despite the authorities promising to take action against the centre.
— New Straits Times

AIA redefines agency professionalism with AIA Elite Academy
Leading insurer AIA Bhd (AIA) is set to change the landscape of insurance agency recruitment with its recent launch of AIA Elite Academy, the first of its kind programme in the industry.
— The Borneo Post

PHEIM eyes up to 12 pct return in next 5 years
Pheim Asset Management Sdn Bhd aims to deliver between eight and 12 per cent in returns over the next five years, said founder and executive chairman Dr Tan Chong Koay.
— The Borneo Post

 

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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 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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