Malaysia Morning News For June 27

Foreign banks lose out to local rivals on earnings but they still hold advantage
While locally incorporated foreign banks did not see as high earnings growth as their local counterparts in the first quarter of this year, they have some competitive advantage over most of the local boys in the areas of cross-border banking, private banking and wealth management.
— The Star Online

M’sian Companies Ink 4 MOUs Over USD50mil At Astana Expo 2017
Malaysia has signed four memorandum of understanding (MOUs) worth over USD50 million this week at the Astana Expo 2017.
— Malaysian Digest

Mavcap-Gobi’s $200m tech fund gets Bosch, Cisco, Unilever as anchor investors
Malaysia Venture Capital Management Bhd (MAVCAP) and Shanghai-based Gobi Partners‘ $200 million Asean Growth fund, which is among the largest vehicles in this region, has secured three big names in the technology space as anchor investors — German electronics firm Bosch, US tech giant Cisco and consumer goods firm Unilever.
— Deal Street Asia

Malaysia’s $100 Billion City Hits a Roadblock
Chinese developer Country Garden Holdings Co is building a $100 billion city in the sea next to Singapore. However, a Chinese government clamp down on money leaving the country is causing problems. Here’s a look at the plans and the problems. (Source: Bloomberg)
— Bloomberg

Gaming PC market continues to grow in Malaysia
VENDORS, tech suppliers and end users should pay attention to the gaming PC market as it is growing exponentially in Malaysia.
— Digital News Asia

How the Malaysian IPO market is rebounding in 2017
The Malaysian IPO market is staging a strong recovery this year from a lacklustre 2016 on the back of significant inflows of foreign capital into the equity market.
— The Asset

China’s Geely Buys Big Stakes In Proton, Lotus For Discounted Price Of US$235 Mil
Chinese automaker Zhejiang Geely Holding Group agreed on Friday to purchase stakes of 49.9% in Proton Holdings of Malaysia and 51% in Lotus of the U.K., both owned by Malaysian automotive group DRB-Hicom, for a total of $235 million.
— Malaysian Digest

Malaysia a world leader in manufacturing of solar power technology, says minister
Malaysia is a world leader when it comes to solar power, said Science, Technology and Innovation Minister Datuk Seri Wilfred Madius Tangau.
— The Star Online

MobilityOne Subsidiary Gets Approval To Issue e-Money In Malaysia
E-commerce infrastructure payment company MobilityOne Ltd on Monday said its subsidiary MobilityOne Sdn Bhd has obtained approval from the Central Bank of Malaysia to issue e-Money.
— London South East

Naiise Malaysia offers platform for local designers
Singapore’s leading omnichannel design and lifestyle retailers, Naiise has launched its first overseas venture in Malaysia and is optimistic of expanding its platform here to benefit local designers.
— The Borneo Post

Malaysia’s most wanted terrorist is still alive
Malaysia’s most wanted terrorist, Dr Mahmud Ahmad, is believed to be still alive and may have escaped from Marawi City with Abu Sayyaf leader Isnilon Hapilon, said Police Inspector-General Tan Sri Khalid Abu Bakar on Sunday.
— Thai PBS

Thai fuel tanker sailing to Singapore attacked by pirates in Malaysian waters
A Thai-registered tanker fell victim to maritime pirates who syphoned 1.5 million litres of diesel from the vessel last week.
— Today Online

Airport retail sales surge
Retail sales at Malaysian airports have surged over the first five months of the year, with cosmetics and perfume, in particular, flying off shelves.
— The Star Online

Negotiation on-going
The state government is still negotiating with Putrajaya on the methodology of disbursing the revenue from tourism tax collection.
— The Borneo Post

Spectrum payments unlikely to raise gearings excessive
The upcoming payments for the 700, 2,100 and 2,600 megahertz (MHz) spectrums are not likely to raise the gearings of mobile operators to excessive levels.
— The Borneo Post

Malaysian billionaire under scrutiny in Australian retirement home scandal
Prominent Malaysian businessman Lee Seng Huang, 42, has been implicated in an explosive financial scandal surrounding Australia’s largest listed retirement village operator, Aveo, in which his family holds a 22.6 per cent stake worth A$400 million (RM1.301 billion).
— The Malay Mail Online

Group wants watchdog to monitor bauxite mining
An environmental group has asked Putrajaya to appoint an independent group to monitor and uphold standards of bauxite mining activities in Kuantan.
— Free Malaysia Today

Taman Tugu project gets the go-ahead
THE Taman Tugu project’s 27ha urban forest park has received all the key approvals needed for it to kick off.
— The Star Online

Pirates escape with 1.5 million litres of diesel
Armed pirates struck a Thai tanker ship in the waters off Pahang and escaped with 1.5 million litres of diesel.
— The Star Online

Malaysia Medical Tourism Market: Government Activities Synergizing Medical Tourism to Help Market Report Impressive Growth 2017
Recent research and the current scenario as well as future market potential of “Medical Tourism Market – Malaysia Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” globally.
— openPR

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.

Malaysia Morning News For June 27 added by Leakhena Khat on June 27, 2017
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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.