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=MALAYSIA PRESS: News Headlines On Friday, March 15

KUALA LUMPUR (Mar 15) -- Here’s a roundup of local news:

*Malaysia’s Capital Market, Fundraising Activities Shrink In 2018

The Securities Commission Malaysia expects the capital market to remain resilient and orderly this year despite seeing a decline in the size of the capital market to RM3.1 trillion as at end 2018 from RM3.2 trillion in 2017, with lower fundraising activities last year. The capital market saw a moderate level of fundraising activities in 2018, with total funds raised decreasing 21.8% to RM114.6 billion from a record high of RM146.6 billion in 2017. Of this, RM105.4 billion was raised via the corporate bond and sukuk market; while RM9.2 billion was raised via the equity market. The SC is projecting fundraising to hit RM110 billion to RM120 billion in 2019 on better performance from initial public offerings. - The Sun Daily

*Singapore, Malaysia Take Steps To Defuse Tension At Their Ports

Neighbors Singapore and Malaysia took steps toward resolving a dispute over port limits, even as tensions remain over water supply. The countries agreed on guidelines to prevent more friction, including reverting to earlier territorial borders and refraining from commercial activities or anchoring government vessels in the area, the foreign ministers said in a joint statement in Kuala Lumpur. - Bloomberg News

*Malaysia's Securities Regulator Issues Goldman Sachs With Show-Cause Letter

Malaysia’s securities commission said Thursday it had issued a show-cause letter to Goldman Sachs, which is embroiled in multijurisdictional investigations into Malaysian state fund 1Malaysia Development. A show-cause letter typically requires the recipient to explain why they should not be subject to disciplinary action. - Reuters

*Abu Dhabi Blacklists Goldman Sachs Over 1MDB Scandal

An Abu Dhabi-controlled investment fund has halted new business with Goldman Sachs Group Inc., adding to the growing fallout for the U.S. bank from its role in the 1MDB corruption scandal. "We have suspended any activities with Goldman Sachs pending outcome of our existing litigation," Brian Lott, a spokesman for Mubadala Investment, said in a statement. "The only exceptions are engagements signed prior to the litigation which will continue as per contractual terms." - Bloomberg News

*Taiwan And Malaysia Likely Biggest Losers In US-China Trade Deal

Taiwan and Malaysia will suffer the most in the near term if a U.S.-China purchasing agreement goes through, while South Korea and Japan also have much to lose, a new Goldman Sachs report says. Semiconductor exporters in Asia are particularly vulnerable if China decides to import more American products to ease trade tensions, a group of Goldman analysts wrote in a report released this week. Taiwan would lose more than 1% of its GDP, while Malaysia would lose about 0.7%, according to the report's estimates, based on the assumption that China's "shopping list" will amount to $125 billion of American imports annually. South Korea and Japan could also lose $8 billion each. - Nikkei Asian Review

- By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
- Edited by Glen Nicol Perkinson
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