Malaysia Morning News For May 5

China fund fears creep up in Malaysian market
Fears of companies from China not putting their money in Malaysian government projects, following the surprise cancellation of a deal that would have given a state-owned Chinese firm a stake in the development of the prestigious Bandar Malaysia project, caused sentiment on Bursa Malaysia to go south.
— The Star Online

Spotlight on China investments after failed Bandar M’sia deal
The fall through of the Bandar Malaysia deal involving Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC), the local unit of Beijing-based China Railway Group Ltd, has put the spotlight on other China investments in the country.
— The Star Online

Bank Rakyat to launch Islamic lifestyle app, Barakah
Bank Rakyat is introducing an Islamic-centric, non-commercial mobile application, called Barakah, featuring everything from Quranic verses to the various zakat rates in different Malaysian states and other information suited to the Islamic lifestyle for the general public.
— New Straits Times

BNM issues warning to those involved in illegal financial schemes
Bank Negara Malaysia has warned those involved in illegal financial schemes that they can be charged under any of the various laws.
— New Straits Times

Najib: Selangor government unstable, imagine if this happened at federal level The Opposition’s directionless leadership will lead to frequent Cabinet changes and a disruption in public services if they take over government, Datuk Seri Najib Razak claimed today.
— Malay Mail Online

Malaysia Vision Valley to draw RM290b in investments, says PM
The development of the world class metropolis, Malaysia Vision Valley (MVV) in Negri Sembilan, is expected to attract more than RM290 billion in investments and transform the lives of millions of people in Negri Sembilan, says Prime Minister Datuk Seri Najib Razak.
— Malay Mail Online

Malaysia stocks tumble after mega property deal scrapped, Singapore shares fall
Malaysian stocks suffered the worst fall in three months on Thursday as termination of a $1.7 billion infrastructure deal between a state fund and a consortium backed by a Chinese partner raised concerns the move could affect foreign equity inflows into the country.
— Nikkei Asian Review

Malaysia, China look to strengthen ties with warships’ visit to Penang
In a historic act, three Chinese warships will call at a Penang port next week amid warming ties between Beijing and Putrajaya.
— Today Online

Jitters over China projects with axing of Bandar Malaysia deal
Malaysia’s decision to scrap the sale of a 60 per cent stake in its signature Bandar Malaysia project to a Malaysia-China consortium came as a rude shock, with the fallout set to spread from the 197ha township earmarked to house a terminus for the Kuala Lumpur-Singapore high-speed rail, to the rest of the economy.
— The Straits Times

Current weakness offers buying opportunities, says Maybank Research
Maybank Investment Bank Research sees the current weakness, where the FBM KLCI fell nearly 14 points on Thursday, as an opportunity to accumulate.
— The Star Online

Ringgit lower against US$ early Friday
The ringgit extended yesterday”s losses to open lower against the US Dollar Friday as more investors shifted interest towards the greenback, on possibility of another US interest rate hike in June.
— The Star Online

Pos Malaysia, Lazada to develop e-commerce regional distribution centre
Pos Malaysia is collaborating with Lazada (Malaysia) Sdn Bhd on the development of an e-commerce regional distribution centre in Sepang.
— New Straits Times

Companies should tap into local talent pool, build 100pct M’sian workforce
Malaysian companies have been urged to hire locals in an effort to reduce the number of foreign workers.
— New Straits Times

China warships to call on Penang port
In a historic act, three Chinese warships will call on a Penang port next Friday to improve bilateral and military relations between China and Malaysia, an official from China announced today.
— Malay Mail Online

Education Ministry urges schools in high risk areas to install high-tech CCTV
The Education Ministry is urging schools in high risk areas and with disciplinary issues to install high-technology closed circuit television (CCTV) security system.
— Malay Mail Online

Malaysia has highest number of Waze users in ASEAN
It seems Malaysians like Waze, and they like it a lot. The country has the highest number of users for the community-based traffic and navigation app in South-East Asia, and we’re even ranked among the top five countries globally, The Star reports.
— Paul Tan’s Automotive News

Economist foresees doom for Melaka Gateway
An economist has voiced concern that the Melaka Gateway project may not materialise due to China’s strict capital controls.
— Free Malaysia Today

Feature photo Zashnain Zainal
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).

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