Malaysia morning news for February 8

Malaysia morning news for February 8

Malaysia morning newsSugar tax to have minimal impact on F&N’s bottom line
The impeding excise duty on sweetened beverages, starting from April 1, 2019, will have a minimal impact on Fraser & Neave Holdings Bhd’s (F&N) bottom line, according to MIDF Research.
— The Sun Daily

Gov’t only promotes own products – DPM
Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said today the government only promotes its own products but not private products.
— New Straits Times

Umno calls for Malaysia’s deputy foreign minister Marzuki to resign over his ‘Cambridge degree’
Umno leaders are calling for the resignation of Malaysia’s Deputy Foreign Minister Marzuki Yahya following claims that his business administration degree came from a degree mill.
— The Straits Times

Malaysia’s manufacturing downturn continues in January
The Malaysian manufacturing sector began 2019 with a fourth successive monthly deterioration in operating conditions, with output and new business both declining in January, said IHS Markit.
— The Edge Markets

Invest in Sabah’s development, Shafie tells entrepreneurs
The Sabah government is appealing to local entrepreneurs to invest in the state in order to boost the state’s economic growth.
— The Borneo Post

Race to manage govt vehicles
A lucrative concession to supply and manage the government’s fleet of vehicles which may include Toyota Vellfire, is up for grab now.
— New Straits Times

RM25b export target for wood-based products achievable: Council
The Malaysian Timber Council (MTC) remains optimistic that Malaysia will achieve its RM25 billion export target for wood-based products by 2020 despite a fragile global trade and economy caused by the US-China trade war.
— The Sun Daily

Banks to maintain earnings potential this year: Analysts
Analysts believe that the banking sector will be able to maintain its earnings potential this year, as margin pressure is expected to ease and continued loans growth with stable asset quality.
— The Sun Daily

Malaysia condemns flag-burning incident in Philippines
Malaysia strongly condemns the burning of her flag in an incident in the Philippines last month.
— The Star Online

Malaysia’s Hope Fund to help with country’s debt officially closes with over $67m collected
Tabung Harapan Malaysia or Hope Fund Malaysia has officially closed, collecting more than RM202 million (S$67.1 million) in about eight months.
— The Straits Times

Malaysia Jan palm oil stockpiles forecast to fall from record high
Malaysia’s palm oil stockpiles at the end of January are forecast to fall from the previous month’s record high as production eases and exports
increase, according to a Reuters survey.
— Reuters

Hypermarket pays tribute to consumers for its growth in Malaysia over 17 years
THE opening of the Tesco outlet in Bagan Ajam, Butterworth, which is the 58th outlet in the country and seventh in Penang, marks the strong continuous growth of the Tesco brand in Malaysia.
— The Star Online

Elder abuse sees some Malaysians neglected over Chinese New Year
This week, families across Malaysia gathered for Reunion Dinner, the most important meal of the Lunar New Year season. With some travelling across the country to make it home in time, it’s an occasion when several generations of a family can sit down to usher in the new year and take stock of their togetherness.
— AsiaOne

Pestech on track for record year
Construction and engineering firm Pestech International Bhd is expected to post a record financial year 2019 with its current orderbook of RM2.3 billion, according to Kenanga Research.
— New Straits Times

Malaysia ranks 1st in world’s best healthcare category
Malaysia, with a score of 95 out of 100, was ranked first in the Best Healthcare in the World category of the 2019 International Living Annual Global Retirement Index.
— The Star Online

Heineken Malaysia may rise higher, says RHB Retail Research
RHB Retail Research said Heineken Malaysia Bhd may rise higher after it breached above the RM21 threshold.
— The Edge Markets

MITEC making great strides
The Malaysia International Trade & Exhibition Centre (MITEC) strategic growth plan for this year will be to attract sectors like digital automation, smart manufacturing, agriculture, medical, science and technology.
— New Straits Times

Penang Rehda unhappy over high rejection rate for housing loans
A property developer has raised doubts over reports that the high home loan rejection rate is a result of a rise in the number of defaulters.
— FMT

M’sians among drivers lured by online ads to smuggle ciggies into S’pore
Twenty-five drivers including Malaysians lured by online advertisements to smuggle duty-unpaid cigarettes into Singapore were arrested in 2018, according to Singapore Customs today.
— Malaysiakini

AirAsia-MAHB feud goes to court
THE war between AirAsia and Malaysia Airports Holdings Bhd (MAHB) over the passenger service charge (PSC) has been brewing for years now, as the budget airline group has not been one to shy away from voicing its objections to the implementation of the levy.
— The Malaysian Insight

SE Asia Stocks-Most rise on hopes of trade deal, Malaysia leads pack
Most Southeast Asian stock markets rose on Thursday with Malaysia leading the gains, as optimism over a trade deal between the US and China were renewed following indications of further official talks in Beijing next week.
— Business Recorder

MRO players to gain from rising O&G activities
More of Malaysia’s oil and gas services and equipment (OGSE) companies are expected to set their sights on the downstream sector mainly in the maintenance, repair and overhaul (MRO) segment with the completion of Petronas’ Pengerang Integrated Complex (PIC) in southern Johor said Malaysia Petroleum Resources Corp (MPRC).
— The Sun Daily

MPRC: Diversification is key to Malaysian OGSE companies’ long-term survival
Malaysian oil and gas services and equipment (OGSE) companies must diversify their businesses to remain competitive amidst signs of greater market volatility in 2019, said Malaysia Petroleum Resources Corporation (MPRC).
— The Edge Markets

Tropicana aborts deal to sell Johor land for RM570m
Tropicana Corp Bhd has called off its proposed disposal of 251.59 acres freehold land in Gelang Patah, Johor, for RM569.87 million.
— The Sun Daily

Volvo Malaysia appoint Jain as new MD
Volvo Cars Malaysia Sdn Bhd has announced the appointment of Nalin Jain as its new managing director.
— New Straits Times

Working with ‘status quo minded’ officers not easy, agriculture minister concedes
Datuk Salahuddin Ayub has admitted that being the minister in-charge of feeding the nation has been tough since day one and it’s made tougher still by his officers and their pride.
— Malay Mail

Malaysia’s Edotco group to invest $250m in Pakistan
Edotco group of Malaysia as part of its mega project plans to invest a whopping $250m in Pakistan’s telecom sector in the next five years.
— Tech Juice

Kenanga expects domestic manufacturing activity’s slowdown to persist in near term
Deterioration in manufacturing activity is expected to persist in a near term due to a slowdown in China’s economy and uncertainty in the trade talks between the Republic and the US.
— New Straits Times

High Court judge uses transfer power to hear 7 charges against Najib
The High Court today allowed Attorney-General Tommy Thomas to withdraw his certificate to transfer Najib Razak’s seven charges in relation to SRC International.
— FMT

Online searches surge
MORE people are searching for properties online, especially in Kuala Lumpur, Selangor, Penang, and Johor.
— New Straits Times

Malaysia’s new Health Advisory Council to help step up public-private collaboration
The Health Minister said that public-private healthcare collaboration would help public hospitals, in particular, to tackle various issues like shortage of specialists and facilities as well as heavy workload and rising cost of treatment.
— Healthcareitnews

 

Feature photo Shahir Ramlan

This week’s Malaysia morning news feature photo acknowledges Chinese New Year, 2019.

 

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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