Maybank IB named Malaysia’s Best Brokerage House
Maybank Investment Bank Bhd has been named Malaysia’s Best Brokerage House for the second consecutive year by fund managers across the world in Asiamoney’s Brokers Poll 2016. The regional investment bank, which ranked first in 21 out of 30 categories, also bagged Best Overall Country Research, Best for Roadshows and Company Visits and Most Independent Research Brokerage in Malaysia. Maybank IB’s research team also topped the poll in 12 sectors including Best Research Coverage for Banks, Diversified Financials, Consumer Staples, Energy, Insurance, Healthcare, and Real Estate. The Asiamoney’s Brokers Poll is Asia’s largest and most recognised annual equities poll for institutional research and brokerage. (The Star Online)

Kontena Nasional to sell PJ land
Kontena Nasional Bhd is disposing of two plots of leasehold land in Bandar Sunway, Petaling Jaya, with the tender already receiving interest from well-known property developers, including Mah Sing, IJM, MRCB and UM Land. The two contiguous parcels of redevelopment land total almost 19 acres, and have a leasehold for 99 years, expiring in August 2103. The land comprises two buildings and two warehouses, and has been zoned for commercial purposes. The reason for the sale of the plots of land is because Kontena Nasional will be relocating its headquarters to Port Klang. (The Star Online)

UTP's new R&D building in its main campus in Seri Iskandar, Perak (Photo from Bernama)

UTP’s new R&D building in its main campus in Seri Iskandar, Perak (Photo from Bernama)

UTP launches new R&D building
Universiti Teknologi Petronas (UTP) has launched its new RM100 million Research and Development (R&D) building at its main campus in Seri Iskandar, Perak. The building houses 65 laboratories and offices, and is capable of accommodating up to 550 researchers and staff. The four-storey building with 21,225 square metres is designed to be compliant with the Green Building Index (GBI) Certification. Another important feature is the solar panels that was installed on the roof which will be used for research in renewable energy and to generate electricity for the building’ consumption. (Malay Mail Online)

BN: Cost of not building MRT will be greater
Barisan Nasional (BN) claimed today that the public will bear a greater burden if the Klang Valley Mass Rapid Transit (MRT) is not constructed, after facing criticisms of inflated cost from PKR MP Rafizi Ramli. Although the project has been announced to cost RM21 billion, BN said Malaysians would suffer from traffic jams both financially and physcially if the project was not undertaken. It also claimed that Putrajaya will be able to directly recoup the massive investment cost of public transport in long-term through taxes on the improved productivity, increased property values, and increased economic activity in the areas served by the system. Efficient public transport projects such as the MRT are investments that last for decades that will put money back into the pockets of Malaysians from time-savings, reduced transport and car ownership costs. Malaysians also benefit from increased well-being and reduced stress. (Malay Mail Online)

RM42bil GST target this year
The government expects to collect RM42 billion in goods and services tax (GST) this year, compared to RM41 billion last year. The target could be achieved through the cooperation of all parties in the face of worldwide economic slowdown which Malaysia was not spared. Deputy Finance Minister Datuk Othman Aziz said although there were still companies which failed to follow the GST directive, the number was small at about 5%. Action has been taken against them, including compound fines to ensure they follow the directive. (Daily Express)

(Photo from The Star)

(Photo from The Star)

Immigration Department considers fines for lost passports
The Malaysian Immigration Department has proposed that penalties be imposed on passport owners who lost the document. The proposal is expected to be enforced after the government’s approval and amendments made under the Fees Act. So far there is no penalty imposed on those who have lost their passport compared to those with lost identity cards who are being fined for losing their ICs for the first, second and third time. Based on Immigration statistics, a total of 44,528 cases involving the loss of passports were reported nationwide last year. (Malay Mail Online)