Malaysia Morning News For October 5

Malaysia Morning News For October 5
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Malaysia morning newsWorld Bank revises Malaysia’s 2017 GDP upwards to 5.2pc
The World Bank has revised Malaysia’s Gross Domestic Product (GDP) growth forecast upwards for this year to 5.2 per cent from 4.9 per cent in June, on the back of a much stronger-than-expected actual growth of 5.7 per cent in the first half of 2017.
New Striats Times

Malaysia moves up seven notches in Economic Freedom report
Malaysia has edged up seven places to rank 65 among 159 countries in 2015, according to the recently-published Economic Freedom of The World Report 2017 (EFW), compared to 72nd placing in 2014.
The Star Online

Pre-election budget almost a certainty for Malaysia
ONE thing is almost certain about Malaysia’s 2018 budget: with only 8-9 months left before the 13th Parliament is automatically dissolved, the fiscal blueprint is invariably going to be a pre-election budget geared to boost sentiment at the polls.
The Edge Markets

Charles and Camilla on first official visit to Malaysia
Britain’s Prince Charles and wife Camilla, Duchess of Cornwall, will be travelling to Penang, Perak and Sarawak during their maiden visit to Malaysia next month.
The Star Online (video)

An alternative maritime route
Malaysia will not experience an immediate effect if the long-envisioned Kra Canal project in Thailand takes place, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
The Star Online

Malaysia’s next election: Why Najib dithers
Malaysia has been in general election fever for almost a year, if not more. The power to dissolve Parliament, which will lead to a general election, lies with Prime Minister Najib Razak. He has been very busy touring the country to give speeches that can easily be taken as campaigning. But he does not seem ready to make the actual call.
The Straits Times (paywall)

Malaysia’s August Export Growth Likely Softened After Blistering July
Malaysia’s export growth likely softened in August following a blistering performance a month earlier.
Fox Business

Malaysia Stock Market May Extend Winning Streak
The Malaysia stock market has ticked higher in back-to-back sessions, gathering more than 7 points or 0.4 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,760-point plateau and it may inch slightly higher again on Thursday.
Nasdaq

Malaysia: 1MDB casts a long shadow
This is the third year of the drama: as the government desperately tries to untangle its controversial fund before elections are called, Malaysians are asking who’s really paying to clean up the mess.
Asia Money

UK Mega Tech Mission eyes collaborative deals in Malaysia
The United Kingdom (UK) Mega Tech Mission 2017, comprising 50 leading-edge technology companies will be heading to Malaysia to widen business outreach and explore new technology deals with local players.
The Sun Daily

World Bank sees currency risk in Malaysia
Malaysia, and to a lesser degree Indonesia, Thailand and the Philippines, remain more exposed to exchange rate risk than other developing economies in East Asia and the Pacific as global financial conditions tighten, the World Bank said.
The Edge Markets

Bank Negara to decide by Dec 31 if alternative cryptocurrency should be banned
Those investing in cryptocurrency will know by the end of the year if it would be a legal investment scheme in Malaysia.
The Star Online

Most Malaysian banks prepared for Basel III
Most major Malaysian banks will not have any difficulty in meeting the net stable funding ratio (NSFR) requirement, announced last week, as part of Bank Negara Malaysia’s (BNM) implementation of Basel III regulations, said Fitch Ratings.
The Borneo Post

Petronas puts some Canadian assets up for sale
Malaysian state energy firm Petroliam Nasional Berhad, or Petronas, is looking to sell some oil and gas assets owned by its Canadian unit Progress Energy, its adviser BMO Capital Markets said.
The Star Online

Petronas Chemical’s divestment in polymers unit a positive devt
Petronas Chemical Group Bhd’s (PCG) move to divest 50 per cent of its stake in its polymers unit – PRPC Polymers Sdn Bhd (PP) – has been deemed as a mildly positive development by analysts at AmInvestment Bank Bhd (AmInvestment Bank).
The Borneo Post

AirAsia to launch revamped travel3sixty site in conjunction with 10th anniversary
AirAsia’s inflight magazine, travel 3Sixty° is set to celebrate its tenth-year anniversary with a three-day carnival from October 6 to 8, 2017 at Fahrenheit 88, Kuala Lumpur.
The Borneo Post

Sukuk market in Malaysia enjoys advantages of proactive stance
Malaysia’s sukuk, or Islamic bond, market benefits from having a large and diverse investor base, including some non-Islamic as well as Islamic investors, and strong growth in sukuk assets in recent years has underlined the advantages of Malaysia’s proactive stance on market development.
The National

MREITs’ results a mixed bag in 2Q17
Results of Malaysian Real Estate Investment Trusts (MREITs) in the second quarter of 2017 (2Q17) were a mixed bag according to the research arm of Kenanga Investment Bank Bhd (Kenanga Research).
The Borneo Post

Australian report on missing Malaysia Airlines Flight 370 concludes plane will likely never be found
When Malaysia Airlines Flight 370 lifted up from Kuala Lumpur International Airport on March 8, 2014, one of the strangest puzzles in modern aviation history began.
Stuff

Warship Spotlights Malaysia-Philippines Naval Exercise
Both sides are getting ready to hold the next iteration of a maritime training activity.
The Diplomat

Bill introduced to support two future Singapore-Malaysia rail links
A proposed law to support the building and running of two future rail links between Singapore and Malaysia was introduced in Parliament yesterday.
The Straits Times (paywall)

Beer fest blocked over security fears, not political reasons: Malaysia police
Malaysian police on Wednesday (Oct 4) said the decision to not allow a planned beer festival in Kuala Lumpur was based on intelligence the event would be sabotaged – and not for any political or religious reason.
Channel News Asia

The Latest: VX-tainted samples examined in Malaysia trial
The Latest on the trial in Malaysia of two women accused of killing estranged North Korean scion Kim Jong Nam.
The Fresno Bee

 

Feature photo SpencerWing
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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