Malaysia Morning News For March 6

Malaysia’s January exports surge 17.9 pct y/y, above forecast
Malaysia’s exports jumped 17.9 percent in January from a year earlier, surging after two months of slower growth, on the back of higher demand for manufactured, mining and agricultural goods, government data showed on Monday.
— Reuters

Axiata Digital Innovation Fund invests in drone tech startup Aerodyne
Axiata Digital Innovation Fund (ADIF), a digital corporate venture capital fund from Malaysia, has invested a sum running into double-digit million in Aerodyne Group that specializes in drone technology, the Digital News Asia reported.
— DealStreetAsia

Press Metal unconcern over US potential tariff on aluminium
Press Metal Aluminium Holdings Bhd is unperturbed about the potential tariff on aluminium implemented by the United States, despite the overall market concern.
— New Straits Times

Electronics shipments help Malaysia’s exports swell in January
Malaysia’s exports growth accelerated in January to 17.9% from a year earlier thanks to stronger shipments of electronics and robust demand from China, official data Monday showed.
— Nikkei Asian Review

Ringgit firms up amid spectre of trade war
The ringgit opened higher against the US dollar today on a weakening of the greenback, amid concerns of a global trade war, dealers said.
— The Star Online

Merchantrade receives Bank Negara approval to implement e-KYC
Merchantrade Asia Sdn Bhd (Merchantrade) has received Bank Negara Malaysia’s approval to implement the electronic Know-Your-Customer (e-KYC).
— New Straits Times

Malaysia news portal told to remove articles containing allegations against tycoon Robert Kuok
The Malaysia Today portal has been instructed by the Malaysian Communications and Multimedia Commission (MCMC) to remove three articles it had published about billionaire Robert Kuok.
— The Straits Times

Malaysia is the only beneficiary of foreign inflow last week
Malaysia is the only beneficiary of foreign inflow among seven Asian exchanges last week, according to MIDF Research.
— The Star Online

MACC investigates GLC suspected to be involved in RM108.5m bribery
The Malaysian Anti-Corruption Commission (MACC) is investigating a government-linked company (GLC) suspected of being involved in corruption and power abuse involving more than US$27.8 million (RM108.5 million).
— The Edge Markets

Petronas discovers new oil and gas from Boudji-1 exploration well in South Gabon, West Africa
Petroliam Nasional Bhd subsidiary, PC Gabon Upstream SA, has discovered new oil and gas from its Boudji-1 exploration well in South Gabon, West Africa.
— New Straits Times

AmInvestment sees minimal boost for offshore oil and gas players
AmInvestment Bank does not foresee a major boost to Malaysian offshore operators given Petronas’ focus on the downstream and alternative energy in the oil and gas (O&G) sector.
— The Sun Daily

Private equity player COPE plans to diversify LP base beyond Malaysia
Malaysia-focused private equity firm COPE (formerly known as CMS Opus PE) plans to diversify its base of investors or Limited Partners (LP) to foreign institutional investors in addition to the present cohort of local LPs.
— DealStreetAsia

GDB Holdings to raise RM43.8m from IPO
Construction services firm GDB Holdings Bhd, which is en route to a listing on the ACE Market of Bursa Malaysia Securities Bhd on March 27, plans to raise RM43.8 million from its initial public offering (IPO) to fund future expansion.
— The Sun Daily

AirAsia denies Tony Fernandes’ resignation
AirAsia Bhd has strongly denied news that AirAsia Group chief executive officer (CEO) and AirAsia X Co-Group CEO, Tan Sri Tony Fernandes will be resigning to enter the financial technology sector.
— The Star Online

Feature photo Bernard Spragg. NZ

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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.