Malaysia Morning News For August 11

Malaysia Morning News For August 11
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Malaysia morning newsMalaysia’s tax authority raids companies owned by Mahathir’s three sons
Malaysia’s Inland Revenue Board (IRB) has targeted companies owned by the three sons of former premier Mahathir Mohamad, with tax officials visiting their offices on Tuesday (Aug 8) and taking away some files.
The Straits Time

CIMB sees ringgit bond issues hitting 5-yr high in 2017
Ringgit-denominated bond offerings in Malaysia are likely to hit the highest in five years in 2017, fuelled by financing needs of infrastructure projects, the chief executive of CIMB Investment Bank said.
The Edge Market

Malaysia palm oil stocks hit highest in over a year
Palm oil inventories in Malaysia, the world’s No.2 producer of the commodity, jumped to their highest in over a year in July as stronger-than-forecast production outpaced export gains.
The Sun Daily

Asean investments into Malaysia growing steadily, says Mustapa
Foreign direct investment (FDI) inflows from Asean member states into the Malaysian economy has been growing steadily and is expected to continue do so moving forward, said Minister of International Trade and Industry (MITI), Datuk Seri Mustapa Mohamed.
The Edge Markets

O&C Resources to develop Kuantan project with RM166m GDV
O&C Resources Bhd’s (OCR) 90%-owned subsidiary O&C Properties (Kuantan) Sdn Bhd is teaming up with Yayasan Pahang to undertake a mixed development project known as “PRIYA Scheme” in Kuantan with an estimated gross development value of RM166 million.
The Sun Daily

Beijing looks to Malaysia for fast track to support in region
Beijing is using a multibillion-dollar railway project in Malaysia to win support from a key Southeast Asian nation at a time when ties are strained with other countries in the region.
South China Morning Post

ECRL folly bound to fail and burden the nation
The East Coast Rail Line (ECRL) is being touted to Malaysians as a world-class “game changer” which will accelerate development in the East Coast states of Peninsular Malaysia. Unfortunately, there is little evidence that it will do so, and the rationale for such claims are dubious, to say the least.
Malaysia Kini

Over half willing to take pay cut to stay employed in Malaysia, Singapore, Hong Kong — study
More than half of employees in Malaysia, Singapore and Hong Kong are willing to accept a lower salary or demotion in order to remain employed, according to a study by Randstad.
The Edge Market

Malaysia’s central bank criticises SGX’s trading of ringgit futures
Malaysia’s central bank Bank Negara Malaysia on Wednesday (Aug 9) hit out at the Singapore Exchange (SGX) after the bourse rolled out the trading of ringgit futures on its exchange last month.
Channel News Asia

Gas Malaysia Q2 net profit up marginally on increase in gas sales volume
Gas Malaysia Bhd’s net profit for the second quarter ended June 30, 2017 rose 1.2% to RM39.46 million from RM38.97 million a year ago, mainly due to higher gross profit in line with the increase in volume of gas sold.
The Sun Daily 

UNHCR says willing to share refugee data with Malaysia
The United Nations High Commissioner for Refugees (UNHCR) is willing to share its refugee database with the government, but this is subject to the signing of a bilateral agreement.
The Star Online

Stir in Malaysia over radar-missile system in Johor
An offer by China to supply Malaysia with radar surveillance and missile systems has caused a stir here.
The Straits Time

MAHB recorded 7.1 per cent passenger growth in July
Malaysia Airports Holdings Bhd’s (MAHB) network of airports, including Istanbul Sabiha Gokcen International Airport (Istanbul SGIA) recorded 11.4 million passengers in July 2017, a 7.1 per cent growth over the same month of 2016.
The Borneo Post Online

Suria Capital in talks with MMC on sale of Sabah Ports stake
Suria Capital Holdings Bhd said it has held talks with MMC Corp Bhd about possible equity sale in wholly owned unit Sabah Ports Sdn Bhd, but no decision has been made on the matter.
The Star Online

Potential airport job for Vivocom from ECER
Signs of projects picking up pace in the East Coast Economic Region (ECER) may yield a potential airport job for Sarawakian Vivocom Holdings International Bhd (Vivocom).
The Borneo Post Online

Local market to stay nervy, support for KLCI seen at 1,770
Sentiment at the local market is expected to remain nervy today in line with the tepid and weaker global markets, as geopolitical tensions in the Korean peninsula keeps investors on tenterhooks.
The Edge Market

Better connectivity, facility upgrades needed for S’wak
An increase in connectivity and facility upgrades are necessary to propel Sarawak’s attractiveness on the global tourism map.
The Borneo Post Online

CIMB IB Research raises target price for Sunway REIT to RM1.79
CIMB IB Research has maintained its “Hold” rating on Sunway REIT at RM1.73 with a higher target price of RM1.79 (from RM1.74) and said Sunway REIT’s FY6/17 core net profit of RM272.4 million was within expectations, at 99% and 101% of house and Bloomberg consensus full-year forecasts, respectively.
The Edge Markets

Press Metal to gain from aluminium price’s rise to three-year high
Press Metal Aluminium Holdings Bhd (Press Metal) is poised to reap the benefits as aluminum price jump to three-year high, analysts say, as China clamps down on circa 10 per cent of its aluminium production.
The Borneo Post

Bursa queries HCK after stock hits limit up
Bursa Malaysia issued an unusual market activity (UMA) query on HCK Capital Group Bhd’s share trade after the stock climbed as much as 30 sen to hit limit up today.
The Edge Market

CIMB Research Neutral on healthcare sector, IHH and YSP top picks
CIMB Equities Research is retaining its Neutral recommendation on the overall healthcare sector where stocks under its coverage underperformed the FBM KLCI by 13% year-to-date.
The Star Online

TNB adds more payment channels
Tenaga Nasional Berhad (TNB) has extended the facility to pay electricity bills at more than 17,000 premises via e-Pay and at 2,000 7-Eleven stores throughout the country.
The Malaymail Online

Lawyers required to go digital by 2018
Lawyers practising in the peninsula have until the end of the year to file court documents online, even as only a quarter of them have registered for the e-filing system introduced six years ago.
The Malaymail Online

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 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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