Malaysia Morning News For February 27

Malaysia economy to remain healthy at 5.5pc in 2018
Malaysian economy is expected to expand favourably this year driven by domestic activities driven by improving business and consumer sentiments and exports from semiconductors and resource-based activities.
— New Straits Times

Hong Leong Bank lowers FY18 loan growth target
Hong Leong Bank Bhd, which posted a 24% jump in its net profit for the second quarter ended Dec 31, 2017 (Q218), has revised its FY18 loan growth target to 3%-4% from 5%-6% after its loan growth for the first six months of FY18 (1H18) came in below its expectation, at 1.8%.
— The Sun Daily

Petronas Dagangan posts record-breaking FY17 earnings of RM1.59b
Petronas Dagangan posted record breaking earning of RM1.59bil in the financial year ended Dec 31, 2017 compared with RM944.61mil a year ago, underpinned by improved margins and gain from disposal of its subsidiaries.
— The Star Online

Manulife’s 4Q net profit plunges 76% to RM6.6m, declares 8 sen dividend
Manulife Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2017 (4QFY17) fell 76.4% to RM6.64 million or 3.28 sen a share, from RM28.1 million or 13.88 sen a share a year earlier.
— The Edge Markets

NZ Wheels invests RM12m to upgrade two Autohaus
NZ Wheels Sdn Bhd, a unit under Naza Corp Holdings Sdn Bhd, has invested a total of RM12 million to upgrade two of its Mercedes-Benz dealerships.
— New Straits Times

Aerospace industry soars
SOME exciting news about our local aerospace industry was shared this month at the Singapore Airshow 2018.
— New Straits Times

Will the Malaysian market be impacted by US inflation worries?
WITH US 10-year Treasury bond yields closing in on 3%, all eyes are on equities markets as bonds become more appealing as an asset class.
— The Star Online

Peugeot Citroen buys majority stake in Malaysia plant
French carmaker PSA Peugeot Citroen has bought a majority stake in a Malaysian factory run by local group Naza in an effort to increase its Southeast Asian presence, both companies said Monday.
— The Jakarta Post

Straits Inter Logistics net profit surges 50-fold
Oil trading and bunkering services company Straits Inter Logistics Bhd registered a whopping 50-fold increase in its net profit to RM2.5mil for the financial year ended December 31, 2017, as compared to the previous financial year’s net profit of RM48,000.
— The Star Online

Jaks temporarily halts claim of bank guarantee by Star Media
The High Court has granted an interim stay restraining Star Media Group Bhd from claiming a RM50 million bank guarantee, following an injunction filed by Jaks Resources Bhd’s (JRB) sub-subsidiary Jaks Island Circle Sdn Bhd (JIC).
— The Sun Daily

Maybulk net losses narrow on write-back of vessels impairment and improved charter rates
Malaysian Bulk Carriers Bhd (Maybulk) recorded a lower net loss of RM73.2 million or 7.32 sen per share in the fourth quarter ended Dec 31, 2017 (4QFY17) compared with RM396.1 million or 39.61 sen per share in the corresponding quarter a year ago, mainly due to write-back of vessel impairments, improved charter rates from dry bulk segment and reduced loss from associate.
— The Edge Markets

Parkson records RM13m loss in Q2
Parkson Holdings Bhd posted net losses of RM13.87mil in the second quarter ended Dec 31, 2017, compared to net earnings of RM72.67mil in the previous corresponding quarter despite a 1.7% improvement in revenue to RM1.065bil.
— The Star Online

Malaysian PM Najib sparks storm of criticism over comment on quinoa
Malaysian Prime Minister Najib Razak has sparked storm of criticism after saying he had stopped eating rice in favour of more expensive quinoa.
— The Edge Markets

Home Expo offers over 100,000 affordable houses
More than 100,000 units of affordable homes ranging between RM65,000 and RM350,000 will be showcased and available for sale at the largest nationwide home expo organised by the federal and state government housing agencies, which will kick off in March and run until end of April.
— The Sun Daily

Report: KL to host 3rd overseas campus for Harvard Business School
Harvard Business School (HBS) has chosen Malaysia to host its third overseas campus outside the US, after China and India, The Malaysian Reserve (TMR) reported today.
— Free Malaysia Today

Feature photo Jakub Michankow

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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.