Malaysia Morning News For October 27

Malaysia Morning News For October 27

Malaysia morning newsMalaysia eyes Hyderabad airport to tap on tourism prospects
Malaysian Tourism, which has seen 6.35 lakh tourists from various places across India, now wants to attain the one million mark soon, making use of the ‘catchment’ area of Rajiv Gandhi International Airport (Shamshabad) and taking up promotional activities to attract the discerning travellers looking for religious places, rain forests, beaches or just for shopping.
— The Hindu

TDA invests RM2.5 million to acquire new tech for railway sector
The Technology Depository Agency (TDA), an agency under the Ministry of Finance, has invested RM2.5 million to acquire an ontrack machinery, the 09-3D Tamping Simulator and an automatic guiding computer simulator from TWA (Malaysia) Sdn Bhd.
— The Borneo Post

Sabah govt stands firm on making Airbnb illegal
Airbnb is an online platform that allows users to book or lease out residential properties for short period stay.
— New Straits Times

Strong La Nina will have significant impact on palm oil production
The possibility of a strong La Nina happening soon will have significant impact on palm oil production.
— The Borneo Post

Najib: Budget 2018 will prioritise the people’s interest
The national budget for 2018, which will be announced later today, will prioritise the interests of the rakyat, said Prime Minister Datuk Seri Najib Razak.
— The Edge Markets

What to Watch for in Malaysia’s Pre-Election Budget
Facing a tough election battle ahead of him, Malaysian Prime Minister Najib Razak has a good story to tell on the economy when he unveils his budget on Friday.
— Bloomberg Politics

Malaysia Introduces Withholding Tax Exemption on Fees Paid for Offshore Services
The Income Tax (Exemption) (No. 9) Order 2017 (Exemption Order) was published in the Federal Gazette on 24 October 2017. The Exemption Order exempts a non-resident from the payment of income tax in respect of certain categories of income derived from Malaysia under certain circumstances, and stipulates that the withholding tax obligations under Section 109B of the Malaysian Income Tax Act 1967 (Act) will not be applicable to the exempted income.
— Lexology

AirAsia X to launch more destinations as it receives new planes
Long-haul low-cost carrier AirAsia X Bhd (AAX) will be launching more long-haul destinations as it takes delivery of more widebody aircraft over the next few years, its group chief executive officer (CEO) Datuk Kamarudin Meranun said.
— The Edge Markets

Public Bank’s Q3 net profit rises 13.5% to RM1.4 billion
Public Bank Bhd’s net profit expanded 13.5% to RM1.4 billion for the third quarter ended Sept 30, 2017 against RM1.24 billion in the previous corresponding period, underpinned by higher net interest income, net fee and commission income, investment income and foreign exchange income.
— The Sun Daily

MIDA and SMiTA help SMEs go global
The Malaysian Investment Development Authority (MIDA) together with the SME International Trade Association of Malaysia (SMiTA) organised the SMiTA Biz Connect Day at MIDA HQ on 25 October 2017.
— New Straits Times

Local economic growth spurred by development of small towns – Zambry
Perak Mentri Besar Datuk Seri Dr Zambry Abd Kadir said 12 of the 48 small towns developed in the state have shown good progress in terms of spurring local economic growth.
— The Sun Daily

Vital for entrepreneurs to know logistics — Manufacturer
Logistics management covers the physical movement of products such as raw materials from their point of origin to receipt by end users as a finished product.
— The Borneo Post

Govt approves construction of 10 new SJKC
The Ministry of Education has approved the construction of 10 new Sekolah Jenis Kebangsaan Cina (SJKC) to meet the educational needs of the Chinese community.
— The Sun Daily

MTCC hopeful on tax breaks to boost timber certification uptake
The Malaysian Timber Certification Council (MTCC) hopes that incentives are given to forest managers and timber product manufacturers to motivate and encourage further uptake of certification, in an effort to promote sustainable forestry.
— The Borneo Post

Cocoaland slapped with additional tax, penalty of RM5.9mil
: Cocoaland Holdings Bhd has become the latest listed group to be slapped with additional income tax and penalty by the Inland Revenue Board (IRB).
— The Star Online

Analyst upgrades view on plantation sector
MIDF Amanah Investment Bank Bhd’s research arm (MIDF Research) upgraded its rating on Malaysia’s plantation sector to ‘positive’, premised on its better prospects in 2018.
— The Borneo Post

HoB Initiative to be increased to 2.5 million hectares — Abg Johari
The state will soon increase the coverage of Heart of Borneo (HoB) Initiative from 2.1 million hectares to 2.5 million hectares.
— The Borneo Post

Malaysian MyNews owner Bison secures Japan food manufacturing JVs
Major Malaysian retailer group Bison is accelerating its move into food manufacturing by partnering with two Japanese firms to produce bakery and ready-to-eat convenience goods.
— Food Nevigator

Mercedes-Benz Malaysia eyes long-term growth amid falling profits
MERCEDES-BENZ Malaysia Sdn Bhd (MBM) may have sold a record number of vehicles last year but that did not help the premium marque’s profitability, which fell sharply as margins came under pressure.
— The Edge Markets

Five Giant outlets to close on Nov 5 on expiration of leases
Giant brand owner GCH Retail (Malaysia) Sdn Bhd said it will cease operations of five Giant stores located in Sri Manjung, Sungai Petani, Shah Alam City Centre Mall, Sibu and Selayang Lama on Nov 5, 2017 at the expiration of leases at these premises.
— The Sun Daily

Sumatec Resources a step closer to full control of oil & gas field in Kazakhstan
Sumatec Resources Bhd, which has a number of acquisition proposals in hand, has entered into a heads of agreement with Tan Sri Halim Saad-controlled Markmore Sdn Bhd to acquire the entire equity interest in Markmore Energy (Labuan) Ltd for US$370 million (RM1.55 billion), which will see the group gaining full ownership of the Rakushechnoye oil and gas field in Kazakhstan.
— The Sun Daily

It’s time to give property market an injection of excitement
RIGHT now, the property market is somewhat subdued due to restriction in lending by banks.
— The Star Online

Zulkifli hopes Malaysia-Singapore ties continue to prosper
Newly appointed Malaysian High Commissioner to Singapore, Datuk Zulkifli Adnan hopes that the relationship between Malaysia and Singapore will always prosper going forward.
— New Straits Times

Malaysia airport video shows 4 men accused in Kim’s killing
Prosecutors showed a Malaysian court airport security videos on Thursday that detail the movements of four North Korean suspects who allegedly planned and helped two women — now facing possible death sentences — kill Kim Jong Un’s estranged half brother.
— Bristol Herald Courier


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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