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By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Dec 11) — Heres a roundup of local news:
*G25 urges full disclosure on 1MDB to restore economic confidence
G25, a grouping of Malaysian elite intellectuals, is urging the government to disclose a full transparent report on 1Malaysia Development case, as an effort under clean government reforms. In its report titled “Invigorating Economic Confidence in Malaysia”, G25 said such disclosure should contain reasonable explanations about the planned management and proposed credible direction towards meeting 1MDB’s financial commitments and ultimately achieve its corporate objectives. – The Edge Markets
*BLand unit demands payment of RM601m from China firm
Berjaya Lands 51%-owned subsidiary Berjaya (China) Great Mall has issued a notice of demand to Beijing SkyOcean International Holdingsfor RMB974.07 million (RM601.78 million). This is the amount due in relation to BLands disposal of Berjaya (China) Great Mall Recreation Centre to Beijing SkyOcean for RMB2.04 billion cash. – The Sun
*McDonald’s Malaysia refutes Israel ties after boycott calls
The Malaysian franchise of McDonalds Corp. said it was disappointed with calls on social media to boycott the fast food restaurant chain in apparent retaliation to the United States recognition of Jerusalem as the capital of Israel. Social media users in the Muslim-majority country called on boycotting various U.S. companies following U.S. President Donald Trumps decision to relocate the U.S. embassy in Israel to Jerusalem, a city important to both Israelis and Muslims. – Reuters
*McDonald’s allocates RM1.5b in capex for growth plans
McDonalds has allocated about RM1.5 billion in capital expenditure to support its aggressive growth plan and push for more use of technology in its restaurants in Malaysia. One of the largest fast food chains in the world gets more upbeat about Malaysian market after the operations here registered 22 per cent sales growth in 2017, overly beating the retail industrys average growth of five per cent. – New Straits Times
*Trumps Jerusalem Call Attacked by Malaysias Electioneering Leader
Prime Minister Najib Razak has assailed a U.S. decision to recognize Jerusalem as the capital of Israel in a rallying speech to his ruling party ahead of elections next year. Najibs two-hour address late last week to the annual general meeting of his United Malays National Organization, which represents much of the Southeast Asian countrys ethnic Malay Muslim majority, was a chance to assure supporters before the vote, which must be called by June. – The Wall Street Journal
– By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
– Edited by Glen Nicol Perkinson
– Send Feedback to feedback@nikkeinewsrise.com
– Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.
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