Malaysia Morning News Roundup February 22

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.

Exclusive: Malaysia’s Blinkware to raise $2m from VCs to fund R&D
Malaysia’s Blinkware Technology, a motion and gesture platforms provider is raising $2 million from venture capital funds to give a push to its R&D efforts to roll out the Software Development Kit (SDK) for client applications.
— Deal Street Asia

Petronas’ 2016 profit margins improve despite tough environment
National oil corporation Petroliam Nasional Bhd (Petronas) will record a lower revenue for 2016 from RM248bil in 2015 owing to the plunge in crude oil prices when it reports its financial results in March.
— The Star Online

Petronas signs contract with Chinese consortium for Flexi-HDPE plant
Petroliam Nasional Bhd (Petronas) has signed the engineering, procurement, construction and commissioning (EPCC) contract for Pengerang Integrated Complex (PIC)’s Flexible High-Density Polyethylene (Flexi HDPE) plant.
— New Straits Times

Macau biz tycoon Stanley Ho’s family member leads funding round in BookDoc
Malaysian healthcare technology start-up BookDoc has announced the latest investment round led by a family member of Macau billionaire tycoon Stanley Ho, another strategic investor after Prince Qawi of the Royal Brunei Family.
— Deal Street Asia

Kronologi net profit more than double despite weaker sales in Malaysia
MALAYSIAN-based data solutions provider Kronologi Asia Bhd’s full year net profit more than doubled to RM7.43 million, while revenue jumped 32.5% to RM81.28 million, mainly driven by stronger overseas business.
— Digital New Asia

EPF performance: Diversification move set to reduce portfolio risks, deliver stable returns
The Employees Provident Fund’s (EPF) strategy of diversifying into different asset classes, including private equity investment, will reduce the overall portfolio risks while delivering stable returns in the future.
— New Straits Times

Ringgit unchanged against US dollar at opening
The ringgit opened unchanged against the US dollar in early trade today, as traders were cautious ahead of the US Federal Reserve’s (Fed) meeting, a dealer said.
— New Straits Times

KL remains top choice for commercial investment, development
Kuala Lumpur remains the top choice for commercial investment or development, followed by Selangor, (23 per cent), Penang (17 per cent), Johor (20 per cent) and Sabah (11 per cent), said Knight Frank Malaysia.
— New Straits Times

Hong Leong Bank looking pricey versus other banks
Hong Leong Bank’s earnings in the first half ended Dec 31, 2016 (1HFY6/17) were in line with CIMB Equities Research and market’s expectations but the valuations have started to look pricey.
— The Star Online

Affin Hwang maintains buy on IOI Properties, up target to RM3
Affin Hwang Capital Research has reiterated its “buy” call on IOI Properties Group Bhd with a higher target price of RM3, based on a 40% discount to revalued net asset value (RNAV).
— The Star Online

Feature photo: AinoTuominen

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