Malaysia Morning News For July 21

Malaysia Morning News For July 21

Malaysia morning newsMalaysian realty player Aspen Group launches Catalist IPO, targets $26.8m raise
Malaysia-based property development group Aspen Holdings Limited – which develops affordable residential and mixed development properties for middle-income mass market purchasers – has launched its initial public offer (IPO) on the Catalist board of the SGX, targeting to raise S$36.72 million ($26.8 million).

Thailand’s PTT considers taking stake in Malaysia gas facility
Thailand’s state-owned oil and gas giant PTT Plc is considering taking a stake in a natural gas liquefaction plant to be built in Malaysia, a company spokesman said on Thursday.
The Borneo Post 

‘Voters more worried about bread-and-butter issues than 1MDB’
Voters are five times more concerned about bread-and butter-issues than corruption scandals such as 1MDB, a survey by PKR-linked Invoke has found.

Port of Tg Pelepas files RM31.9mil oil spill damage suit
Port operator Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) has filed a suit seeking RM31.86mil plus interest for losses due to an oil spill at PTP’s premises from tanker MV Trident Star in August last year.
The Star Online 

Foreign insurers said to plan US$2b of Malaysia deals
OVERSEAS insurers including Prudential are pursuing plans to sell stakes in their Malaysian units, in deals that could raise at least a combined US$2 billion and help them comply with foreign ownership limits, sources said.
The Business Times 

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Modest growth of 4.4pct for M’sian economy in 2017: Asian Development Bank
While growth in the Malaysian economy may have bottomed out last year, this year will see a modest recovery recording a 4.4 per cent growth followed by a 4.6 per cent growth in 2018 said the Asian Development Bank (ADB).
New Straits Times

IOI could record strongest quarterly headline profit in financial year 2017
IOI Corporation Bhd (IOI) could register its strongest quarterly headline profit for the financial year 2017 (FY17), analysts say.
The Borneo Post 

Average job turnover for a person is 2½ years
Human resource (HR) practices in Malaysia must change and accept the fact that the average turnover for any individual in this day and age is two-and-a-half years, according to one panellist at the Global Business Services Forum 2017 yesterday.
The Sun Daily 

Foreign insurers look at RM8.58bil deals in Malaysia
Overseas insurers including Prudential Plc are pursuing plans to sell stakes in their Malaysian units, in deals that could raise at least a combined US$2bil (RM8.58bil) and help them comply with foreign ownership limits, people with knowledge of the matter said.
The Star Online 

Data From Malaysia Airlines Flight 370 Search Shows Indian Ocean in Never-Before-Seen Detail
While the search for remains of the missing Malaysia Airlines Flight 370 remains suspended, crews that searched for the plane have collected an extensive trove of data from the depths of the Indian Ocean.
The Weather 

RM3 million to combat rabies
About RM3 million has been allocated to contain the spread of rabies in Sarawak.
The Borneo Post 

Intra-Asia segment boosts Westports’ 6M17
Westports Holdings Bhd (Westports) achieved an operational revenue of RM860 million while its container operations handled a throughput of 4.7 million twenty-foot equivalent units (TEU) in the six-month period ended June 30, 2017 (6M17).
The Borneo Post 

Wilmar’s billionaire CEO emerges as Apex Healthcare’s substantial shareholder
Kuok Khoon Hong, chairman and chief executive officer of agri-business giant Wilmar International Ltd, has emerged as a substantial shareholder in Apex Healthcare Bhd with an indirect interest of 40.61%.
The Star Online 

Takaful Malaysia posts slightly higher Q2 profit
Syarikat Takaful Malaysia Bhd posted a marginally higher pre-tax profit of RM59mil in the second quarter ended June 30, 2017 (2Q17) from RM58mil in the same quarter a year ago.
The Star Online 

Naza Italia To Open Ferrari City Showroom In September
Naza Italia, the sole official importer and distributor of Ferrari in Malaysia will be opening the Ferrari City Showroom at the Naza Platinum Park by end of September this year.
Malaysian Digest 

BNM Releases Strategy Paper On VBI
Bank Negara Malaysia (BNM), in collaboration with the Islamic finance industry, has released a strategy paper on Value-based Intermediation (VBI) to articulate strategies to strengthen the roles and impact of Islamic banking institutions (IBIs) towards a sustainable financial ecosystem.
Malaysian Digest 

Maxis Bhd records 17.62 pct rise in net profit for 2Q2017
Maxis Bhd has recorded an impressive 17.62 per cent rise in its net profit for 2Q2017 at RM574 million, over the same quarter in 2016 when it hit RM488 million.
New Straits Times 

Tien Wah to lay off 237 workers
Tien Wah Press Holdings Bhd is ceasing its printing business in Malaysia held under Tien Wah Press (Malaya) Sdn Bhd (TWPM), which will result in 237 employees being laid off.
The Edge Markets 

Illegal Bangladeshi workers can be ‘rehired legally’, Immigration tells Dhaka
ALL illegal Bangladeshi workers in Malaysia will be allowed to legalise their status despite an ongoing nationwide Immigration crackdown, reports The Daily Star.
The Malaysian Insight 

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BAT Malaysia raised to outperform at Credit Suisse
Credit Suisse analyst Joanna Cheah upgraded the recommendation on British American Tobacco Malaysia Bhd to outperform from neutral.
The Edge Markets 


Feature photo John Walker
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 is published M-F by AEC News Today: Governance, not government; policies not politics.



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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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