Malaysia Morning News For January 10

Perdana Petroleum’s unit bags RM41m contract from DESB
Perdana Petroleum Bhd’s wholly owned subsidiary, Perdana Nautika Sdn Bhd, has entered into four time charter party agreements with Dayang Enterprise Sdn Bhd (DESB) for the supply of two accommodation workbarges and two anchor handling tug/supply vessels worth RM41.8 million.
— New Straits Times

Malaysia: Stronger ringgit could lead to lower imported veg prices
As the Malaysian ringgit strengthens against the US dollar, vegetable prices could come down.
— Fresh Plaza

Malaysia, Indonesia and Thailand ready to retaliate on EU palm oil ban
Malaysia, Indonesia and Thailand will retaliate if the EU’s ongoing discrimination and attack on the palm oil industry becomes legislative, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.
— News Straits Times

Tien Wah Press sells printing assets
Tien Wah Press Holding Bhd (TWP) has proposed to sell its printing assets in Malaysia to executive chairman and major shareholder for RM1.29mil cash, as the company shifts production volume to Vietnam and Indonesia.
— The Star Online

Less volatility expected in local equity market
The local equity market, which is already seeing a pre-election rally, may not face as much volatility as it did during the 13th general election as the level of uncertainty shrouding the market appears to be smaller this time around.
— The Sun Daily

Prestar plans to list unit on ACE Market
Steel maker Prestar Resources Bhd plans to list its subsidiary Tashin Steel Sdn Bhd on the ACE Market of Bursa Malaysia Securities Bhd by fourth quarter of this year.
— New Straits Times

Malaysian Automotive Market Recovers to Reach 601,000 units in 2018
Frost & Sullivan forecasts Malaysia’s vehicle sales to reach approximately 601,000 units in 2018 at a growth rate of 2.0 per cent.
— AsiaOne

Mitrajaya unit bags RM103m PPA1M contract
Mitrajaya Holdings Bhd’s wholly owned subsidiary, Pembinaan Mitrajaya Sdn Bhd, has been awarded a RM103.05 million construction contract involving the Perumahan Penjawat Awam 1 Malaysia (PPA1M) project from Putrajaya Homes Sdn Bhd.
— New Straits Times

Kenanga maintains optimistic outlook for economy in 2018
Kenanga Investment Bank Bhd has maintained its optimistic outlook for the country’s economy in 2018, but views the market as still facing considerable risks that could weigh on the upward momentum in exports.
— The Malaysian Reserve

Uzma secures umbrella contracts from Petronas Carigali
Oil and gas services company Uzma Bhd said it had received three umbrella contracts for the provision of electrical submersible pumps and services from Petronas Carigali Sdn Bhd (PCSB).
— The Sun Daily

Honda Achieves 19 Pct Sales Growth In 2017, Breaks Car Sales Record In Malaysia
Honda Malaysia Sdn Bhd achieved a record-breaking increase in sales of 19 per cent last year with sales of 109,511 units.
— Malaysian Digest

Ekuinas sells entire stake in APIIT Education Group for RM725 million
Ekuiti Nasional Bhd (Ekuinas) announced the disposal of its entire 100% stake in the APIIT Education Group for an enterprise value of RM725 million.
— The Sun Daily

Malaysia’s economy a big winner, says analyst
MALAYSIA’S 2018 growth prospects look promising, while its stability indicators look sound, says founding chief executive officer of Centennial Asia Advisors, Singapore, Manu Bhaskaran.
— The Malaysian Insight

Malaysia: Key Considerations Before Starting A Business In Malaysia
Before establishing a footprint in Malaysia, it is vital that overseas-based multinationals have a deep understanding of the investment environment, and the legal, accounting and taxation frameworks. Here are a few key considerations you need to know.
— Mondaq

Feature photo Ah Wei (Lung Wei)

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