Malaysia morning news for March 6

Malaysia morning news for March 6

Malaysia morning newsMinistry confident of achieving MSPO goal by Jan 1, 2020
The Ministry of Primary Industries is fully confident of achieving the Malaysian Sustainable Palm Oil (MSPO) certification by Jan 1, 2020.
— The Sun Daily

Malaysia’s exports inched up 3.1% in January
Malaysia’s exports edged up 3.1% YoY in January, outperforming export growth across most ASEAN countries including Singapore and Indonesia which witnessed YoY declines of 10.1% and 4.7% respectively, according to a report by UOB Global Economics & Market Research.
— SBR

Malaysia ranked 51 out of 126 countries in global Rule of Law index
Malaysia has taken the 51st spot among 126 countries in the World Justice Project’s (WJP) Rule of Law Index 2019.
— Malay Mail

Maybank processed 5.85 billion online transactions in 2018
Malayan Banking Bhd has posted an unprecedented growth of 173 per cent year-on-year (YoY) in mobile transactions in 2018 and is optimistic in maintaining the momentum on the back of its new digital offering, the Maybank, Anytime, Everyone (MAE).
— New Straits Times

Palm oil to rise to RM2,400 a tonne, on higher biodiesel mandate
Palm oil price is expected to average between RM2,300 and RM2,400 per metric tonne this year driven by the government’s policy to ramp up palm-based biodiesel consumption.
— New Straits Times

What deflation means for Malaysia
Last week, consumer price index (CPI) data indicated that consumer inflation was 0.7% lower in January compared to a year ago. Malaysia entered deflation territory for the first time since the 2009 global financial crisis. Of course, this was not entirely an unexpected event – median Bloomberg consensus estimates got pretty close, forecasting a 0.4% decline in inflation.
— FMT

Malaysia, China sign palm oil purchase deals worth RM3.64b
Primary Industries Minister Teresa Kok and China’s ambassador to Malaysia Bai Tian yesterday witnessed the signing of four purchase intent documents for the export of 1.62 million tonnes of palm oil from Malaysia to China with a combined estimated worth of US$891 million (RM3.64 billion).
— The Edge Markets

Malaysia joins ICC in boost for beleaguered court
Malaysia has become a member of the International Criminal Court, a minister said on Tuesday (March 5), in a boost for the beleaguered institution at a time it faces growing criticism.
— The Straits Times

Bank Negara holds key interest rate at 3.25pc
Malaysia’s central bank kept its key interest rate unchanged at 3.25 percent on Tuesday, as widely expected, with resilient exports and domestic consumption helping to prop up economic growth.
— New Straits Times

Malaysia rejects EC discriminating palm oil
Malaysia rejects the European Commission (EC) classifying palm oil as a high indirect land-use change (ILUC) risk and unjustifybly exclusing palm oil from the EU’s Renewable Energy Directive II (REDII) mandate.
— New Straits Times

Another bad quarter for corporate Malaysia
It is only March but local equity analysts have already slashed their full-year profit forecast after Corporate Malaysia delivered yet another disappointing quarter.
— The Star Online

Malaysia state fund Khazanah records pre-tax loss of $2 billion
Malaysia’s sovereign wealth fund Khazanah Nasional announced its first pre-tax loss in a decade amounting to RM6.27 billion (S$2 billion) in its annual review presentation on Tuesday (March 5).
— The Straits Times

Asia’s first Legoland in Malaysia may be sold off
Fancy owning a Legoland theme park complete with 15,000 models made of millions of plastic bricks and dozens of attractions?
— New Straits Times

Malaysia among the top five most unsafe countries for women in Asia Pacific — study
A study has ranked Malaysia as the 10th safest country for women out of 14 countries in the Asia Pacific region in 2018.
— The Edge Markets

Malaysia, Brunei hold discussions on bilateral cooperation
Malaysian Prime Minister Mahathir Mohamad and Brunei’s Sultan Hassanal Bolkiah held a high-level meeting on Tuesday for further cooperation on bilateral issues.
— Xinhua

A&W Malaysia allocates RM25 mil capex for 2019
Fast food chain A&W Malaysia Sdn Bhd has allocated RM25 million as capital expenditure (capex) to open about 15 outlets and refurbish between five to six existing restaurants this year.
— The Edge Markets

Malaysia to cap 6.5m ha of oil palm plantations by 2023
Primary Industries Ministry will propose to the cabinet this month to cap the country’s oil palm plantations areas at about 6.5 million hectares by 2023.
— New Straits Times

Dutch Lady Malaysia aims to improve operational efficiency to adapt to headwinds
Dutch Lady Milk Industries Bhd (Dutch Lady Malaysia), which posted a 10% rise in net profit in its financial year 2018 (FY18) despite marginally lower revenue, said it will continue to improve operational efficiency to stay agile and adapt to macro-economic headwinds in 2019.
— The Edge Markets

Mavcom stays clear from MAHB-AirAsia spat
The Malaysian Aviation Commission (Mavcom) says it may be subjudice for it to comment on the commercial dispute between Malaysia Airports Holdings Bhd (MAHB) and AirAsia Group Bhd.
— New Straits Times

Kazakhstan wants to tap Malaysia’s Halal expertise
Kazakhstan aims to develop its halal industry ecosystem with focus on foods and beverages and Islamic finance while leveraging on Malaysia’s halal industry development experience.
— New Straits Times

Aabar puts another block of shares in RHB Bank for sale
Aabar Investments PJS has put up another substantial block of shares in RHB Bank Bhd for sale, as the Abu Dhabi investor continues to pare down its stake in the country’s fifth-largest banking group by market value.
— The Star Online

UEM Edgenta sees commercial healthcare as growth driver
UEM Edgenta Bhd (UEMEd) sees commercial healthcare as the growth driver for this year as the company is actively bidding for new contracts.
— The Sun Daily

New LG store in KK aimed at entrepreneurs
Global innovator in technology and manufacturing, LG Electronics Malaysia together with its partner, Cleanpro Laundry Holdings Sdn Bhd (Cleanpro) recently launched its second commercial laundry concept store in Kota Kinabalu, Sabah.
— The Borneo Post

The MySalam scheme: Are Malaysians being shortchanged?
PSM is concerned about the many loopholes in the MySalam scheme. For example, according to the MySalam website, severe Parkinsonism with permanent inability to perform activities of daily living (#30) is one of the 36 critical conditions for which the afflicted person can apply for the RM8,000 pay-out.
— FMT

Mining for recruiting gold: Singapore and Malaysia’s best overall recruitment firm
It is no secret that economies in Asia are among the fastest growing the world has ever seen, and this is a reflection of the region’s important contribution to various aspects of global business and market development.
— Human Resource Online

‘Corporate round-up in 4Q18 among the worst in recent years’
Corporate earnings in the last quarter of financial year 2018 (4Q18) were amongst the worse seen in recent years, as huge misses in telco, transport and utilities sectors were enough to drag market earnings per share (EPS) growth into negative territory for the whole year.
— The Borneo Post

AirAsia to permanently withdraw sales from Traveloka
Low-cost carrier AirAsia has decided to permanently withdraw sales of its flights from online travel agent Traveloka.
— The Star Online

Hibiscus Petroleum to commence drilling of GUA-P1 side track well by 1H19
Hibiscus Petroleum Bhd’s jointly controlled operating company, Anasuria Operating Company Ltd (AOC), is set to commence the drilling of the Guillemot A GUA-P1 side-track well in the United Kingdom North Sea’s Anasuria Cluster by the first half of 2019.
— The Borneo Post

Maybank targets 100,000 take-ups for MAE
Malayan Banking Bhd (Maybank) expects 100,000 take-ups for its newly launched Maybank Anytime Everyone (MAE) digital account platform by the end of this year.
— The Star Online

Brahim’s gears towards PN17 exit, optimistic on halal business growth
Brahim’s Holdings Bhd will consult prospective principal advisers to formulate and submit a regularisation plan in the next three months to move out from its Practice Note 17 (PN17) predicament.
— New Straits Times

Musa Aman slapped with 16 money laundering charges
Former Sabah chief minister Musa Aman has been slapped with 16 money laundering charges amounting to over US$30 million related to timber concessions in the state.
— FMT

South Korean president to visit Malaysia next week
South Korean President Moon Jae-in will embark on a three-nation Asian tour next week that will take him to Brunei, Malaysia and Cambodia, his office, Cheong Wa Dae, said yesterday.
— Malay Mail

Cahya Mata Sarawak partners China’s CCCC to bid for infra projects
Cahya Mata Sarawak Bhd’s unit, PPES Works (Sarawak) Sdn Bhd (PPESW), is partnering with China Communications Construction Co Ltd (CCCC) to bid for jobs under the Sarawak Coastal Road Network project and the Second Trunk Road project in the state.
— Edge prop

 

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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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