Malaysia Morning News For July 13

Malaysian merger could open window for ANZ stake sale: sources
ANZ Bank is moving closer to a deal to sell its Malaysian banking stake to a pension fund and exit the South-East Asian nation, sources familiar with the matter said, in a transaction that could be worth around $US900 million ($1.2 billion).
— The Sydney Morning Herald

RM5.88 Bln Disbursed For Sme Sector Development For 2017, Najib
The government has disbursed funds totalling RM5.88 billion for 2017 for the small and medium enterprise (SME) development programmes which are being implemented by 16 ministries and over 60 agencies.
— Malaysian Digest

Singapore banker admits to money laundering in 1MDB-linked case
Yeo Jiawei, a former banker serving the longest jail term in Singapore’s probes linked to 1Malaysia Development Bhd., admitted to money laundering.
— Deal Street Asia

Cheapest Currency in Southeast Asia Gives Malaysia an Edge in Export Race
When the global trade rebound came this year, Malaysia held one advantage over its peers: the cheapest currency in Southeast Asia.
— Bloomberg

Digi Q2 pre-tax profit falls to RM483.21 mln
Digi.Com Bhd’s pre-tax profit for the second quarter (Q2) ended June 30, 2017 fell to RM483.21 million from RM575.63 million in the same period last year.
— The Borneo Post

Malaysia’s May industrial output rises 4.6% on year, beats view
Malaysia’s industrial production, driven mostly by the manufacturing sector, accelerated to beat market expectation in May, boosting prospects of stronger economic growth this year.
— Nikkei Asian Review

International cooperation pushes Malaysia towards higher education goals
Malaysia is strengthening its position as a destination for international students, having recently inked bilateral deals related to tertiary-level education with partners in Turkey and Senegal.
— Oxford Business Group

Malaysia’s manufacturing sales up 19.5% in May to RM61.9bil
Malaysia’s manufacturing sales grew strongly by 19.5% in May 2017 to RM61.9bil as compared to RM51.8bil in the same month of 2016, due to increases recorded in its three major sub-sectors.
— The Star Online

MO1 sees profits in 1MDB, while auditors see debts
Imams and village development and safety committee (JKKK) heads indeed must correct the misconceptions regarding 1MDB at the grassroots level – misconceptions that have been fabricated and propagated by the media and propaganda units that the government controls.
— Malaysiakini

Global sovereign rating outlook improves, but high debt lingers, says Fitch
The global sovereign credit cycle reached an inflection point at the end of last year and has turned less negative in 2017, according to Fitch Ratings in its mid-year Sovereign Review and Outlook.
— The Edge Markets

Reach Energy MoU to enhance Malaysia, Kazakhstan trade ties
Reach Energy Bhd, a listed Malaysian oil and gas exploration production company, on Wednesday inked a Memorandum of Understanding (MoU) with Akimat, the regional government of Mangystau, southwestern region of Kazakhstan.
— The Borneo Post

Eduspec fixes fifth-tranche placement share price at 15 sen
Eduspec Holdings Bhd, whose shares were actively traded today, has fixed the price for the shares it is issuing under a private placement exercise at 15 sen each.
— The Edge Markets

Axiata confident of bringing back dividends from Nepal
Axiata Group Bhd said yesterday the central bank of Nepal has not responded to a submission to repatriate dividends from Nepali unit Ncell Pvt Ltd and it is confident that Nepal’s government will not stop it from repatriating dividends which rightfully belong to the Malaysian telco.
— The Sun Daily

Electrical & electronics sector key to export rebound
IHS Markit expects the Malaysian gross domestic product (GDP) growth to strengthen from 4.2% in 2016 to 4.9% in 2017, with the strong performance of electrical and electronics manufacturing output being an important factor contributing to country’s export rebound in the first half of the year.
— The Sun Daily

Bank Muamalat eyes RM250 million gold bar sales in FY18
Bank Muamalat Malaysia Bhd is targeting to sell 580 kilogramme (kg) of physical minted gold bars worth RM250 million through its latest product, Muamalat Gold-i (MGi) Account, for its financial year (FY) ending March 31, 2018.
— The Borneo Post

Mah Sing confident of hitting RM1.8bil sales
Property developer Mah Sing Group Bhd is sanguine about delivering a slightly higher property sales value this year, amid the challenging domestic property environment.
— The Star Online

Honda Malaysia bullish on new CR-V
Honda Malaysia Sdn Bhd has launched the all-new Honda CR-V SUV with an expected sales target of 700 units per month.
— The Star Online

Malaysia’s priority is to manage, not stop, China’s investments
Eyebrows were raised when the South China Morning Post recently claimed that mainland Chinese are migrating to Malaysia “by the thousands”.
— Today Online

Foreign Governments Told To Respect Malaysia’s Action On Illegal Immigrants
Foreign governments must respect Malaysia’s effort to detain and repatriate illegals under the nationwide operation code named E-Card Mega Op said Malaysian Crime Prevention Foundation (MCPF) senior vice-chairman Tan Sri Lee Lam Thye.
— Malaysian Digest

Going to Malaysia? 10 things to know before your trip
Malaysia’s cultural diversity is matched only by its phenomenal natural landscapes.
— CNN

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.

Malaysia Morning News For July 13 added by Leakhena Khat on July 13, 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.