Malaysia Morning News Roundup February 21

Malaysia Morning News Roundup February 21
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Welcome to the Malaysia morning news roundup by AEC News Today, your one stop for Malaysia news on matters of governance and policies affecting Asean business communities.

Malaysia morning news

Exclusive – Petronas considers $1 billion stake sale in offshore gas project: sources
Malaysian state-owned oil and gas firm Petronas is aiming to sell a large minority stake in a prized upstream local gas project for up to $1 billion (£802.2 million) as it seeks to raise cash and cut development costs, two sources familiar with the matter said.

Tech firms may face profit hiccups
Malaysia’s export-oriented technology companies could face export and earnings hiccups from a stronger ringgit as well as weakness in the semiconductor industry this year.
New Straits Times

Rubber industry resilient, thanks to high value exports, says Mah
Malaysia’s rubber industry is resilient, as downstream businesses continue to invest in the manufacture of high-value exports such as rubber seismic bearings, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.
New Straits Times

Eco World Development targeting RM4 billion in sales in 2017
Eco World Development Group Bhd, while acknowledging the challenging real estate market, is hopeful of achieving RM4 billion in sales in the current year ending Oct 2017.
New Straits Times

SSM uses Red Hat technology to modernise IT infrastructure
RED Hat, Inc, a provider of open source solutions, announced that it has been selected by Suruhanjaya Syarikat Malaysia (SSM) to support the development of a new and advanced gateway for the registration of companies and businesses in Malaysia.
Digital New Asia

Malaysian palm oil price at 3-month low on slowing demand, rising supply
Malaysian palm oil futures slid for a third consecutive session on Monday, falling to its lowest since mid-November as slowing demand and expectations of higher supplies weighed on the market.
The Star Online

Energy Commission seeks bids to build large scale solar PV plants
The Energy Commission is conducting a second competitive bidding process for companies to build large scale solar (LSS) photovoltaic (PV) plants in Peninsular Malaysia and Sabah/ Labuan.
The Star Online

Petronas stocks lead KLCI’s charge early Tuesday
Buoyant crude oil prices galvanised investors’ risk appetite for oil and gas stocks, especially Petronas-linked counters, in line with the firm Asian markets early Tuesday.
The Star Online

Malaysia Airlines offers 25% discount for China flights
Malaysia Airlines Bhd (MAB) is offering 25% discount for economy flights to Chinese cities of Nanjing, Haikou, Fuzhou and Wuhan for bookings made until Feb 28.
The Star Online

Malaysian food delivery startup Dah Makan closes $1.3m seed round
Malaysia’s food delivery startup Dah Makan has secured a $1.3 million in a seed round from global venture capital firms NFQ Capital, East Ventures, Asia Venture Group and Grupara Ventures as well as prominent angels including the ex-CEO of Nestlé.
Deal Street Asia

Catcha-backed co-work space Common Ground signs first tenant, regional VCs to join
Catcha-backed co-working space Common Ground has got its first anchor tenant — global entrepreneurs’ network Entrepreneur’s Organisation (EO) which will move to its new headquarters when the facility opens next month.
Deal Street Asia


Feature photo: AinoTuominen




The Malaysia morning news roundup is published M-F by AEC News Today: Governance, not government; policies not politics.





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