Malaysia Morning News For March 28

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.

Malaysian palm oil price falls to more than 5 months low

Malaysian palm oil futures fell to their lowest in more than five months on Monday in a third consecutive session of losses, weighed down by weaker performing related vegetable oils.
— The Star Online

Samsung to sell refurbished Galaxy Note 7s
Tech giant Samsung Electronics Co Ltd said it plans to sell refurbished versions of the Galaxy Note 7 smartphones that were pulled from markets due to fire-prone batteries.
– The Star Online

Stay open and reap the benefits, World Bank tells Malaysia
MALAYSIA and other Asian countries that remain committed to trade openness in the face of rising protectionism will continue to benefit from global flows of knowledge and opportunity, said the World Bank.
— New Straits Times

More restructuring for PNB after value of companies rise by RM20bil
Permodalan Nasional Bhd (PNB) will continue to unlock value in its companies, encouraged by the RM20bil rise in market value of its six main listed entities.
– The Star Online

Maybank Islamic unveils Islamic Private Wealth Solution
Maybank Islamic Bhd has launched a new account for its Islamic private wealth clientele, allowing this high net worth (HNW) segment to maximise their balances in their various Islamic investment portfolios.
— New Straits Times

Finance minister II: RM3b request won’t alter Budget 2016 deficit
The government’s Supplementary Supply Bill for RM3.08 billion will not affect the previously projected deficit for Budget 2016, Finance Minister II Datuk Johari Abdul Ghani said today.
— Malay Mail Online

HSBC study: Only one-third of millennials can afford houses
Only one-third of millennials (those born between 1981 and 1998) are able to afford to own homes due to escalating house prices and slower salary growth, according to HSBC’s first Beyond the Bricks study.
– The Star Online

ICP expected to create investments of more than US$17.5b by 2020, Johari says
The Industrial Collaboration Programme (ICP), a government initiative to ensure best value for money on a procurement programme, is expected to create more than US$17.5 billion (RM77.2 billion) in investments by 2020.
— Malay Mail Online

SECOS profitable in Malaysia
SECOS Group has achieved consistent profitability at its Malaysian production facility at Port Klang near Kuala Lumpur.
— The Australian

Malaysia cooperating with North Korea on Kim Jong Nam’s body
The body of the assassinated Kim Jong Nam has been taken out of a morgue in Malaysia and is to be delivered to Pyongyang.
— United Press International

Foreign liquidity on Bursa Malaysia remains elevated for second straight week, says MIDF Research
Foreign investors purchased RM1.08 billion worth of equities on Bursa Malaysia last week, the second week running the amount had exceeded RM1 billion. This excluded off market deals.
— The Edge Markets

CIMB Research retains Add for Bison Consolidated, target price RM2.07
CIMB Equities Research is retaining its Add recommendation for convenience store player Bison Consolidated with a target price of RM2.07, which is 11.2% above the last traded price of RM1.86.
— The Star Online

Ringgit closes higher against US dollar
The ringgit became among the most sought-after currencies by investors today, as they shifted their interest from the greenback, a dealer said.
— New Straits Times

Takaful Ikhlas, Agrobank, join forces for range of Takaful plans
Takaful Ikhlas Bhd is targeting RM211 million in total premium contributions, on the back of its five-year exclusive collaboration with agriculture-centric development financial institution (DFI), Agrobank Bhd.
— New Straits Times

Minister moots compulsory national insurance for cancer patients
Finance Minister II Datuk Johari Abdul Ghani suggested today a mandatory national insurance scheme as an option to help cancer patients pay for expensive treatments.
— Malay Mail Online

Deputy minister: New rail deal won’t cost any KTMB jobs
None of the 4,000 employees of Keretapi Tanah Melayu Berhad (KTMB) will lose their jobs with the signing of the Railway Network Access Agreement (RNAA), Deputy Transport Minister Datuk Ab Aziz Kaprawi pledged today.
— Malay Mail Online

Frontier Digital Ventures to inject cash in Sri Lanka property portal
Malaysia’s Catcha Group-backed online classified operator Frontier Digital Ventures (FDV) will inject cash into Sri Lankan property portal LankaPropertyWeb in a bid to raise its stake from 37 per cent to 48 per cent.
— Deal Street Asia

Singapore and Malaysia’s differing accounts on how Mas Selamat got to Malaysia from Singapore
The Jemaah Islamiyah (JI) bomb maker Mas Selamat Kestari, who was detained by the Singapore’s Internal Security Act (ISA) but had escaped through a ventilation shaft in a toilet at Singapore Prison in February 2008, has again made news on 25 March.
— The Online Citizen

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