Malaysia Morning News For June 13

Alibaba launches new sales channels in Malaysia, Singapore
Chinese e-commerce giant Alibaba Group Holding Ltd on Monday (Jun 12) said it is launching new sales channels in Singapore, Malaysia, Hong Kong and Taiwan as China’s deep-pocketed e-commerce firms vie for new users in the region.
— Channel NewsAsia

DOJ moves to seize London properties linked to 1MDB fund
Controversial businessman Low Taek Jho, better known as Jho Low, bought the penthouse, an office building and another flat, which are all located at the upmarket Mayfair district using £77 million (RM416 million at current rates) from Malaysia’s state-owned fund.
— Malaysiakini

CIMB IB Research projects net profit growth of 9.2% for banks in 2017
CIMB IB Research has maintained its “Overweight” rating on the banking sector and said banks’ net profit increased by a strong 14% yoy in 1Q17, underpinned by lower loan loss provisioning and wider topline expansion.
— The Edge Markets

Malaysian grower explains the reason behind exorbitant durian prices
Durian lovers have noticed the elevated prices of their favorite fruit recently with prices for Musang King going for RM90 per kg in KL, while in PJ it’s going for RM60-RM68 per kg (in April).
— Fresh Plaza

Feeding the homeless: How to reduce food wastage
Several NGOs are trying to reduce food wastage this Ramadan by trimming the portions of food being distributed to the homeless.
— Free Malaysia Today

Zika virus: Doctors told to be alert when examining patients with fever
Doctors in the country should be more observant when attending to patients with fever as they could be infected with zika virus.
— The Malay Mail Online

FGV’s needless failure
The latest fallout at Federal Land Development Authority (Felda) controlled Felda Global Ventures Ventures Holdings Bhd (FGV), is just a continuation of the wrong and highly questionable actions of the company since listing in 2012.
— Malaysiakini

Philippines seeks Malaysia, Indonesia cooperation vs terrorism
The Philippines is seeking closer cooperation with Malaysia and Indonesia in the fight against terrorism amid President Duterte’s revelation that the leader of the Islamic State (IS) himself ordered the attacks in Marawi City, Foreign Affairs Secretary Alan Peter Cayetano said yesterday.
— Philstar

AffinHwang Capital raises target price for KESM to RM21.80
AffinHwang Capital Research has maintained its “Buy” rating on KESM Industries Bhd at RM15.02 with a higher target price of RM21.80 (from RM16.40) and said KESM recently delivered a strong 9MFY17 results with earnings up 39% year-on-year.
— The Edge Markets

Renewed buying interest emerges in BSL Corp, says AllianceDBS Research
AllianceDBS Research said BSL Corporation Bhd (BSLCorp) had on June 9 traded higher to 60 sen before settling near the day’s high at 59 sen (up 7 sen or 13.46%).
— The Edge Markets

Chinese, Malaysians top tourist arrivals in Thailand
International tourist arrivals in Thailand rose 4.6 percent in May from a year earlier, with revenues up 6.9 percent, but a strong baht could impact the lucrative industry, the tourism and sports ministry said.
— The Star Online

Red Wing Shoe Company Announces First Store in Malaysia
Red Wing Shoe Company today announced the grand opening of its new Red Wing Store in Kuala Lumpur, widening its footprint in Southeast Asia.
— Business Wire

Trading ideas: Astro, Vivocom, Mercury, tech stocks
JF Apex Research expects Astro, Vivocom, Mercury Industries and tech stocks to be among the companies to see tradin action on Tuesday after their corporate news.
— The Star Online

Residents Demand AES Cameras In Melawati
The Road Transport Department (RTD) may install Automated Enforcement System (AES) safety cameras by year-end at a school zone in Taman Melawati following a request from residents and parents’ groups.
— Malaysian Digest

RTD To Review Enforcement Of Private Vehicle Load Limit
The Road Transport Department (RTD) will be instructed to review the enforcement of private vehicle load limits to ensure that the number of victims in accidents are controlled.
— Malaysian Digest

Help increase availability of solar energy via ‘1 Post = 1 Watt’
Every social media post in support of green growth in the next three months will lead the Government to put in more solar panels to generate electricity.
— The Star Online

More opt for ETS instead of road trips
More folks are opting for KTMB’s electric train service (ETS) than road travel, especially for trips to the north, this Hari Raya.
— The Star Online

Immediate support for AirAsia at RM3.20, says AllianceDBS Research
AllianceDBS Research said AirAsia Bhd (AirAsia) had on June 9 traded lower to RM3.28 before closing off the day’s low at RM3.32 (down 2 sen or 0.59%).
— The Edge Markets

Sarawak’s Withdrawal From Tourism Malaysia A Good Decision – Masidi
Tourism, Culture and Environment Minister Datuk Seri Panglima Masidi Manjun viewed positively the Sarawak State Government’s decision to withdraw the participation of its representative in the Malaysia Tourism Board with immediate effect.
— Malaysian Digest

Feature photo Davidlohr Bueso
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 13 added by Leakhena Khat on June 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.