Malaysia Morning News For November 7

Malaysia Morning News For November 7

Malaysia morning newsMalaysia to open $307bn bond market to retail investors
The Malaysian government said Monday it was reviewing existing rules on bond offerings to open up the market for retail investors by the first quarter of 2018.
— Nikkei Asian Review

MITI: Malaysia invested RM225b overseas between 2012 and 2016
Malaysian direct investment overseas reached RM225.22 billion between 2012 and 2016, according to the Ministry of International Trade and Industry (MITI).
— The Edge Markets

Malaysia’s MBSB agrees to buy Asian Finance Bank for $152 mln
Malaysia Building Society Bhd (MBSB) said it plans to acquire Asian Finance Bank (AFB) from its foreign shareholders for 645 million ringgit ($152.5 million) in a deal that would give the non-bank lender a banking license.
— Kitco

FMM: Factories lost RM300 million due to Penang floods
Penang’s manufacturing industry suffered losses amounting to almost RM300 million in the massive floods over the weekend, the Federation of Malaysian Manufacturers (FMM) said today.
— Free Malaysia Today

Malaysia’s export growth healthy until year-end
Malaysian exports will fare well in terms of growth for the rest of the year supported by healthy demand, said economists.
— New Straits Times

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Malaysia Airports to fund Miri Airport car park upgrade — Transport Ministry
Malaysia Airports Holdings Bhd (MAHB) will use its own money to fund Sarawak’s Miri Airport’s car park upgrade under the Malaysian government’s plan to improve its terminal building.
— The Edge Markets

Sweden’s investment in Malaysia to hit RM200m
Sweden’s investment in Malaysia is expected to hit RM200 million by end of this year, spurred by vast manufacturing sector in the country.
— New Straits Times

Spotlight: Malaysia digital economy company looking for more partners for DFTZ
Malaysia Digital Economy Corporation (MDEC), the country’s government-backed agency in promoting digital economy, is in talks with several e-commerce players for possible tie-up to enhance the Digital Free Trade Zone (DFTZ).
— Xinhua

Turkey hopes to strike trade balance with Malaysia
Turkey is looking to increase exports to Malaysia in several identified areas with growth potential and strike a balance in trade, says outgoing Turkish Ambassador, Basak Turkogu
— Borneo Bulletin

‘Revenue expected to exceed RM2b’
MALAYSIA Healthcare Travel Council (MHTC) expects revenue contribution from the medical tourism to surpass RM2 billion annually, with a multiplier contribution worth RM10 billion to the country’s economy by 2020.
— New Straits Times

Foreigners using Malay proxies to buy prime land in Malaysia, says Dr Mahathir
FOREIGN entities are buying land in Malaysia through Malays as proxies, who would supposedly Bumiputera-owned companies.
— The Malaysian Insight

Putrajaya: No need for MACC to probe 1MDB too
The Malaysian Anti-Corruption Commission (MACC) did not probe the 1MDB case as other authorities had already taken action.
— Free Malaysia Today

Prince Charles, Camilla arrive in Penang for one-day official visit
The Prince of Wales, Prince Charles and his wife, Camilla, the Duchess of Cornwall, arrived here tonight as part of a day-long official visit to commemorate the 60th anniversary of bilateral relations between Malaysia and the United Kingdom (UK).
— Malay Mail Online

BNM ramps up education efforts with Financial Carnival
Bank Negara Malaysia (BNM), with the help of our local financial industry, will be ramping up efforts in spreading financial education throughout Sarawak with its Financial Carnival event.
— The Borneo Post

SC plans registration of cryptocurrency exchanges
The Securities Commission (SC) Malaysia is in consultation with global regulators, looking at recent developments and different approaches taken by its counterparts, to establish a framework for the registration of cryptocurrency exchanges by year-end.
— The Sun Daily

UMW Oil & Gas takes on US$550m syndicated credit facilities
UMW Oil & Gas Corp Bhd (UMW OG), through wholly owned subsidiaries Sumber Ribu Sdn Bhd and Sumber Wang (L) Ltd, has entered into a common terms agreement for syndicated facilities of US$550 million (RM2.3 billion).
— The Sun Daily

ShopBack expects RM5.1 million sales during Singles’ Day
Singles’ Day, Black Friday and Cyber Monday are online and omnichannel retail events designed to encourage consumers’ year-end shopping with a slew of deals, promotions and voucher codes.
— The Borneo Post

Ikea launches Southeast Asia e-commerce in Singapore, Malaysia, Thailand next
Good news for late-night compulsive online shoppers in this region: Ikea has launched its e-commerce channel in Singapore, and Malaysia is next.
— Mashable

AirAsia X launches direct flights from KL to Jaipur
AirAsia X will achieve yet another milestone with the announcement of direct services from Kuala Lumpur to Jaipur, India with four times-weekly flights effective Feb 5, 2018.
— The Star Online

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Grab celebrates its 1 billionth ride
E-hailing service provider Grab, which was founded in Malaysia, announced yesterday that it has reached one billion rides across the Southeast Asia region.
— Free Malaysia Today

Malaysian terrorist is new ’emir’ in South-east Asia, says Philippine police
A top Malaysian terrorist with long combat experience in the war-torn southern Philippine island of Mindanao is the new “emir” of the ultra-radical Islamic State in Iraq and Syria (ISIS) in South-east Asia, the Philippines’ police chief said on Monday (Nov 6).
The Straits Times (paywall)

Policeman testifies that 4 N. Koreans fled after Kim killing
A police officer testified Monday at the trial of two women accused of killing the half brother of North Korea’s leader that four suspects at large believed to have plotted with the women were North Koreans who fled Malaysia immediately after the assassination.
— The Kanas City Star


Feature photo World Bank Photo Collection/Nafise Motlaq
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 by AEC News Today is your one stop source for Malaysia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.


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