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=MALAYSIA PRESS: News Headlines On Wednesday, May 15

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

*SC Issues Guides On Business Continuity

The Securities Commission Malaysia has issued the Guiding Principles on Business Continuity for capital market entities to enhance the systemic resiliency of the capital market. The principles set out the SC’s expectations of the business continuity management approach of capital market entities to ensure timely continuity of critical services and the fulfilment of business obligations in the event of disruptions. SC said a comprehensive business continuity management approach will also help to mitigate any possibility of wider systemic risk implications to the capital market, taking into consideration the rapidly changing landscape of the market. - The Sun Daily

*World’s Biggest Palm Oil Planter Is Running Out Of Space At Home

Malaysia’s Sime Darby Plantation Bhd., the world’s largest palm oil planter, is looking to buy refineries in Latin America as it grapples with poor margins and mounting costs at home. The Kuala Lumpur-listed firm has Latin America “on the radar” as it looks to expand its global refining capacity, said Mohd Haris Mohd Arshad, the chief operating officer of the downstream business. It has set aside 400 million ringgit ($96 million) to invest in refineries, though more will be needed for acquisitions, and the company may consider turning to the debt market or listing its units’ shares, he said. - Bloomberg News

*Malaysia Bubble Tea Chain Plans $72 Million IPO Next Year

Loob Holding, which owns the Tealive bubble tea brand, is planning a Malaysian initial public offering that could raise as much as 300 million ringgit ($72 million), according to people with knowledge of the matter. The Kuala Lumpur-based company has hired advisers for the planned share sale, according to the people, asking not to be named as the information is private. The firm is considering seeking a valuation of as much as 1 billion ringgit and targets a listing next year, the people said. - Bloomberg News

*Malaysia Forecasts RM92b Tourists Receipts In 2019

Malaysia’s economy stands to gain as the government steps up its 'Malaysia Truly Asia' promotional activities to tourists from China and India. In delivering a report titled 'Blue Skies, But Keep Your Seatbelts Fastened' presented at the Invest Asia 2019 conference here recently, Maybank Kim Eng senior economist Chua Hak Bin said if the government accords multiple entry visa to China tourists from the current single entry, it would bode well for the Visit Malaysia 2020 marketing campaigns. - New Straits Times

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