Malaysia Morning News For July 14

Malaysia Morning News For July 14
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Malaysia morning news

Malaysia central bank holds rates at 3%
Malaysia’s central bank kept its benchmark interest rate steady at 3 per cent, as expected by economists.
The Financial Times 

Prasarana CEO hails MRT’s positive impact to country’s GDP growth
Mass Rapid Transit’s impact to the national gross domestic product (GDP) growth will not stop even after its completion said Prasarana Malaysia Bhd chief executive officer Datuk Seri Azmi Abdul Aziz
New Straits Times 

Malaysian state introduces public canings for those who break Sharia law
A state in Malaysia has introduced public canings for people who break Sharia law, despite strong criticism from politicians and rights campaigners.

IPI grows 4.6pct in May, exceeds market expectations
The Industrial Production Index (IPI) in May grew faster than market expectations underpinned by manufacturing activities in the electrical and electronics (E&E) sector.
New Straits Times 

DNeX appointed accounting software reseller in Malaysia, Indonesia
Dagang NeXchange Bhd (DNeX) said its wholly-owned subsidiary Dagang Net Technologies Sdn Bhd has been appointed as the reseller of Financio, a cloud-based accounting software, in Malaysia and Indonesia.
The Edge Markets 

Malaysia, Singapore, and Indonesia Transformational Health Insights, 2017 – 2022
Rapid Growth, Reforms, and Partnerships are Transforming Healthcare Systems in Malaysia, Singapore, and Indonesia
PR Newswire 

Malaysia’s Genting says it sold stake in Australia’s The Star for $182 mln
Malaysian conglomerate Genting Group said on Friday it has sold its 5.6 percent stake in Australian casino operator The Star Entertainment Group Ltd for A$235.2 million ($181.9 million).

Malaysia urged to make taxes ‘more friendly’ to attract more businesses
Taxes need to be more “friendly” in order to attract more businesses and remain competitive, said Ernst & Young Tax Consultants Sdn Bhd Malaysia tax leader Amarjeet Singh.
The Sun Daily 

Malaysia shelves US$2bil plan to buy new fighter jets
Malaysia has put on hold a $2 billion (£1.5 billion) plan to replace its ageing fleet of combat aircraft, looking instead to upgrade its aerial surveillance capabilities to confront the growing threat of militancy inspired by the Islamic State group, a source with knowledge of the matter said.
The Star Online 

Queens Casino’s $400 Million Expansion Fuels Malaysia’s Genting
New York’s Resorts World Casino, the top-grossing slots parlor in the U.S., broke ground on a new 400-room hotel, part of the Malaysian group Genting’s renewed multistate effort to broaden its appeal to American gamblers.

ANZ close to selling AMMB stake for RM3.86bil
Australia and New Zealand Banking (ANZ) group is said to be near a deal to divest its block of shares in AMMB Holdings Bhd to the Retirement Fund Inc (KWAP) in a transaction that could be worth around US$900mil (RM3.86bil), Reuters reported.
The Star Online 

1,428 fraudulent online business transactions reported this year
The Ministry of Domestic Trade, Cooperatives and Consumerism (KPDNKK) received 1,428 complaints regarding fraudulent online transactions this year.
The Malay Mail Online

Malaysia’s SME GDP contribution to exceed 40 per cent by 2020
The Malaysian Small and Medium Entrepreneur (SME) sector’s contribution to the country’s Gross Domestic Product (GDP) is expected to exceed 40 per cent and on track to achieve the target of 41 per cent of the GDP.
The Borneo Post 

Analysts reaffirm Vivocom’s earnings estimates
The research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) emerged from a meeting with Vivocom International Holdings Bhd (Vivocom) executive director Choo Seng Choon feeling reassured with its estimates.
The Borneo Post

Bursa Malaysia ends on mixed note
Bursa Malaysia finished on a mixed note yesterday after digesting Bank Negara Malaysia’s decision to maintain the Overnight Policy Rate at three per cent amid an influx of investors on profit-taking, after the index rose in earlier session, dealers said.
The Borneo Post 

Touch ‘n Go To Introduce Digital Platform For Retail Activity
Touch ‘n Go Sdn Bhd will introduce a new digital platform which will be used in the sales and purchase medium nationwide in the next six months, in line with the move to further enhance cashless transactions at the community level.
Malaysian Digest

CIMB Group CEO: No M&A Plans For CIMB In Malaysia
CIMB Group Holdings Bhd is not planning any merger and acquisition (M&A) in Malaysia.
Malaysian Digest 

Sunway buys KL land, plans RM1.1b project
Sunway Bhd is acquiring a piece of freehold land measuring 18,332 sq m in the Kuala Lumpur city centre from Genting chairman and CEO Tan Sri Lim Kok Thay and a few other parties for RM165 million.
The Sun Daily 

Retailers want long-term solution to foreign worker issues
The Malaysia Retail Chain Association (MRCA) wants to work with the government to structure a long-term solution to issues relating to the hiring of foreign workers.
The Sun Daily 


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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