Malaysia Morning News For January 5

Najib election battle seen as key for Malaysia as economy booms
Malaysia faces higher interest rates, currency risks and a contentious election battle in 2018 that will test Prime Minister Najib Razak’s grip on power.
— Business Mirror

Malaysia, Thailand, Indonesia to hold back rubber exports
Thailand, Indonesia and Malaysia’ pledge to withhold exports of 350,000 tonnes of natural rubber (NR) until March 2018 comes into immediate effect on Thursday.
— The Star Online

Axiata is said to consider $500m tower unit IPO this year
Axiata Group Bhd., Malaysia’s biggest wireless carrier, is considering an initial public offering of its tower unit that could raise at least $500 million, people with knowledge of the matter said.
— New Straits Times

CIMB: Malaysia’s economy to grow further, driven by strong fundamentals
Malaysia’s economy is expected to grow further this year driven by strong economic fundamentals, said CIMB Group Holdings Bhd Group Chief Executive, Tengku Datuk Seri Zafrul Aziz.
— Malay Mail Online

Malaysia cites property bubble, geopolitics as risks to 2018 growth
The Malaysian government said on Thursday that the property glut and political tension in Asia pose risks to the country’s economic growth this year as it considers deferring the zero fiscal deficit target from 2020 to 2023.
— Nikkei Asian Review

Bukit Kayu Hitam economic zone to add RM30b to GDP
The Special Border Economic Zone (SBEZ) in Bukit Kayu Hitam, as planned by the government in Budget 2018 is expected to contribute between RM30 billion and RM40 billion to the country’s gross domestic product, annually.
— Malay Mail Online

Scomi Energy Services shareholders reject proposed three-way merger
A proposed merger between loss-making Scomi Group Bhd and its two units Scomi Energy Services Bhd (SESB) and Scomi Engineering Bhd (SEB) hit a stumbling block after shareholders of SESB voted against the exercise at a court-convened meeting today.
— The Sun Daily

Jan 4: Ringgit ends at 20-month high against US dollar
The ringgit closed the day at a 20-month high of 4.0050/0080 against the US dollar, versus Wednesday’s close of 4.0130/0180.
— New Straits Times

Malaysian palm oil price sees sharpest daily drop in 2-weeks
Malaysian palm oil futures fell in trade on Thursday evening on the back of a technical correction, dropping from their highest in a month hit during the previous session.
— The Star Online

Malaysia’s opposition holds off naming PM candidate
Malaysia’s opposition alliance gave mixed signals yesterday on who would be its prime ministerial candidate, pushing the announcement to Sunday when the four-party pact will hold its annual convention.
— The Straits Times

Malaysia among top 5 best places to retire in the world
Malaysia has been named one of the world’s best five places to retire in, according to International Living, an organisation that helps people look for retirement and relocation opportunities.
— Channel NewsAsia

Bank Negara acquires a piece of land for RM2b to develop a financial education hub
Bank Negara Malaysia has acquired a piece of land, located contiguous to the bank’s Sasana Kijang complex, for RM2 billion to develop a financial education hub.
— New Straits Times

Singapore, Malaysia stocks rise to two-year highs
Singapore and Malaysia stocks rose to more-than-two-year highs on Thursday, as upbeat U.S. factory activity data boosted appetite for risk assets.
— Nikkei Asian Review

Feature photo Phalinn Ooi

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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.