Malaysia Morning News For July 12

Malaysia Morning News For July 12
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Malaysia morning news

Malaysian banks must change to stay competitive
Malaysian banks must constantly evolve and make necessary changes to stay competitive as more foreign banks make their way into the country, says Deputy Finance Minister Datuk Othman Aziz.
Astro Awani Network 

Affin Hwang Research retains Buy for Petra Energy
Affin Hwang Capital Research retains its Buy for Petra Energy with a lower sum-of-parts derived 12-month target price of RM1.55 from RM1.66 as it trims its 2018-19E earnings after tweaking some balance sheet items.
The Star Online 

WeChat Pay seeks licence for local payment services in Malaysia
Tencent Holdings Ltd has applied for a licence in Malaysia to offer local payment services via its WeChat Pay, in what would be a first for the platform beyond mainland China and Hong Kong, the director of WeChat Pay’s global operation told Reuters.
The News 

Lotte debuts at rm6.50 on main market of Bursa Malaysia
Lotte Chemical Titan Holding Bhd (LCT) made its debut on the Main Market of Bursa Malaysia yesterday at RM6.50, unchanged from its initial public offering (IPO) price.
The Borneo Post 

Defence Ministry claiming RM147.7m damages from Boustead Heavy joint-venture firm
The Ministry of Defence is claiming damages of RM147.7 million from Boustead Heavy Industries Corp Bhd’s joint-venture company Boustead DCNS Naval Corporation Sdn Bhd (BDNC) for “breach of obligations” under the contract for in-service support for the Royal Malaysian Navy Scorpene submarines.
The Sun Daily

PM announces four additional services to be GST zero-rated
Prime Minister Datuk Seri Najib Tun Razak today announced the government has agreed that four more services will be treated as zero-rated supply for the purposes of Goods and Services Tax (GST).
The Sun Daily 

FAMA To Help Entrepreneurs Market Herbal-Based Products Globally
The Federal Agricultural Marketing Authority (Fama) aims to help at least 20 per cent of the 5,500 agro-based entrepreneurs, involved in the production of herbal-based products and local ‘ulam’, to market their products internationally within the next two years.
Malaysian Digest 

Malaysia may reevaluate trade with France over palm biofuels stand
Malaysia will be compelled to reevaluate options on trade with France if the country keeps its stand on palm biofuels, said Plantation Industries and Commodities Minister, Datuk Seri Mah Siew Keong.
The Borneo Post 

Integrated logistic players still gearing up for e-commerce boom
Local integrated logistic players such as Tiong Nam Logistics Holdings Bhd (Tiong Nam), Century Logistic Holdings Bhd (Century) and Xin Hwa Holdings Bhd (Xin Hwa) are still gearing up to leverage on an impending e-commerce boom.
The Borneo Post 

Global sales of semicon manufacturing equipment to hit US$49.4 billion in 2017, says SEMI
Worldwide sales of new semiconductor manufacturing equipment are projected to increase 19.8% to total US$49.4 billion in 2017, marking the first time that the semiconductor equipment market has exceeded the market high of US$47.7 billion set in 2000, according to the U.S.-based Semiconductor Equipment and Materials International (SEMI).
The Edge Markets 

Medical Tourism Market – Malaysia Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024
In terms of revenue, the Malaysia medical tourism market is expected to register a CAGR of 30.5% during the forecast period, 2016–2024. The primary objective of the report is to offer insights on the market dynamics that can influence growth of the Malaysia medical tourism market over the forecast period. Insights on key trends, drivers, restraints, value forecasts and opportunities for companies operating in the Malaysia medical tourism market are presented in the report.
PR Newswire 

Four MRT stations along SBK Line to be ‘branded’
Fancy having your brand ride on the popularity of MRT stations? Some brand owners did just that by getting naming rights for four stations along the soon-to-be-opened Sungai Buloh-Kajang (SBK) Line.
The Star Online 

Healthcare providers continue to suffer from bloated valuations
Malaysia’s healthcare sector continues to suffer from bloated valuations as sector players report pedestrian earnings despite expensive valuations.
The Borneo Post 

Bursa closes easier on sell-offs in small CAP, 2nd and 3rd liners
Bursa Malaysia closed easier yesterday on sell-offs in small-capitalised, second- and third-liner stocks as investors cashed-out for short-term gains, dealers said.
The Borneo Post  

Explore New Opportunities, Diversify, Zahid Tells O&G Players
Oil and gas (O&G) industry players must take the opportunity to diversify their products and services, as well as tapping into new market segments, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
Malaysian Digest 

Immigration Dept To Push For Maximum Penalties Against Those Who Hire Illegals
Employers who hire illegal immigrants could face the rotan in addition to being jailed and fined
Malaysian Digest 

Global energy investment fell by 12% in 2016, says IEA annual energy report
Global energy investment fell by 12% in 2016, the second consecutive year of decline, as increased spending on energy efficiency and electricity networks was more than offset by a continued drop in upstream oil and gas spending, according to the International Energy Agency’s (IEA) annual World Energy Investment report.
The Edge Markets 

UPA to get RM32.6m from compulsory government land acquisition for MRT2
Paper and printing machine seller UPA Corp Bhd said the government, via the Federal Territory Lands and Mines Office, has notified the firm that it would be awarded RM32.67 million, for the compulsory acquisition of three plots of land it owns.
The Edge Markets 

Optimistic trade, GDP outlook for Malaysia in 2017 despite geopolitical risks: MIDF Research
2017 will still be good for Malaysia, while geopolitical risks continue to dominate the headlines, MIDF Research said.
New Straits Times 


Feature photo shankar s.
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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