Category archive: Industry updates – Corporate News

Opportunities for foreign investors in Malaysia

 
Malaysia is among the most attractive destinations for foreign direct investment (FDI) in Southeast Asia — thanks to the country’s efforts to maintain an economy as attractive as possible to that investment — as well as a legal infrastructure well-suited to support it.
As the UNCTAD 2014 World Investment Report outlined, cited by Spain’s Santander Trade,…

ASEAN infrastructure holds much opportunity for investors

The ASEAN infrastructure market holds significant potential over the next decade, according to Roddy Adams, Partner and head of Asia-Pacific Infrastructure Markets for KPMG.  As KPMG detailed in a recent study:  “An estimated US$60 billion is needed per year until 2022 to fulfil all the infrastructure needs in the region. The energy and transport sectors…

Property, car markets seen slowing down post GST

KUALA LUMPUR: Big ticket items, such as real estate and cars, are likely to see a lull in their respective markets after the implementation of the goods and services tax (GST) come April 1, 2015, says an accountant.
According to independent assurance, tax and advisory firm Grant Thornton, the same had happened in the United Kingdom…

Taking the knife to MAS

THE long-awaited restructuring of Malaysia Airlines (MAS) has finally taken off.
Yesterday, Khazanah Nasional Bhd embarked on its first step to turn around the ailing airline that has undergone two aviation disasters since March 8 this year – something no other airline has ever gone through.
Even before the tragedies, the airline had been in dire straits,…

Ssang Yong to build US$81m hotel in Langkawi

Kuala Lumpur: South Korea’s Ssangyong Engineering & Construction (Ssangyong E&C) has clinched a US$81 million (RM258.39 million) deal to build a six-star St Regis hotel in Langkawi, the main hotel for the Asean Plus Three Summit scheduled to be held in Malaysia next year.
The company said it has signed a contract with Indonesia-based Rajawali Group to…

Low Yat’s resort plans

Petaling Jaya: Tan Sri Low Yow Chuan, the driver behind one of the oldest property development groups in the country, revealed that he has the “first right of refusal” for a second casino licence and plans to build an integrated resort, if the Government approves of one.
The licence was granted in 1970 by Malaysia’s first…

Maica minority shareholders urged to reject TER Equity offer

PETALING JAYA: Independent adviser AmInvestment Bank Bhd has urged Malaysia Aica Bhd’s (Maica) minority shareholders to reject TER Equity Sdn Bhd’s buyout offer, deeming the 85-sen-a-share offer as “not fair and not reasonable.”
“We consider the offer to be not fair, given that the offer price is below the indicative realisable net asset value (RNAV) per share, and the…

Sunsuria signs deal on RM10bil assets acquisition

PETALING JAYA: Sunsuria Bhd has entered into a heads of agreement (HoA) to explore and negotiate the acquisition of RM10bil worth of assets linked to the company’s executive chairman and major shareholder Datuk Ter Leong Yap.
Confirming a StarBiz report, Sunsuria said in a statement yesterday that it had signed the HoA with Sunsuria Development Sdn Bhd (SDSB), Rentak Nusantara Sdn Bhd (RNSB) and Strata…

Economists see Malaysia’s key interest rate rising by 25 basis points

PETALING JAYA: The stronger-than-expected economic growth in the first quarter of this year has fuelled expectations of economists that interest rates in Malaysia could go up as early as July when Bank Negara’s Monetary Policy Committee (MPC) convenes its next meeting.
Several economists, when contacted, expected the central bank to raise the overnight policy rate (OPR) by…

MTUC urges govt to scrap proposed GST

 
KOTA KINABALU: The Malaysian Trade Union Congress (MTUC) wants the government to scrap the proposed Goods and Services Tax (GST) planned for implementation starting April next year.
MTUC Exco and Council Member, Sivanathan Arumugam, said the organization opposed the introduction of GST as it fears the new tax system would burden the people especially the low…

Menu