AEC Feed

The resignation of Malaysia Airlines chief executive officer and managing director Christoph Mueller has raised concerns over efforts to turn the airline around.
Malaysian Trades Union Congress secretary-general N Gopal Kishnam said Mueller’s early exit would affect MAS’s parent company Khazanah Nasional’s restructuring plans for Malaysia’s national carrier.
“Khazanah will have to look for a qualified candidate to replace Mueller. And this will take time,” he said.
In a surprise announcement on Tuesday, Mueller told staff he would be leaving the company in September, prematurely ending his three-year contract. He cited personal reasons for his decision.
The German is the first non-Malaysian hand-picked to head the troubled flag carrier, taking over last May.
Gopal also lamented the status of the Malaysia Airlines System Employees Union (Maseu), which he said had remained in limbo since the takeover by Khazanah.
Maseu’s former executive secretary Mohd Jabarullah Abdul Kadir said the resignation could mean problems in MAS’s restructuring. – The Star
 

Vietnam to see more high-end developments
 The real-estate market in Vietnam will see a growing number of property developments offering quality living environments and amenities, as developers are moving to meet market demand amid an improved economy.
At a conference about breakthroughs in living standards organised by the economic and financial news website cafef.vn and the Vietnam Real Estate Association in Hanoi, experts said homebuyers were now more demanding, driven by improved income as the economy was on the recovery path.
The association’s president Nguyen Tran Nam said the living environment and amenities became decisive factors for purchase decisions rather than price.
“The recent crisis of the realty market helps buyers hold the upper hand,” Nam said.
The protracted stagnation eliminated developers that had weak capacity and forced those remaining to meet home-seekers’ demands, which would benefit buyers. – Viet Nam News
 

Malaysia’s bourse running out of steam?
 Shares on Bursa Malaysia may have hit a speed bump on earnings worries and trickling foreign interest, as the benchmark index fell for a third day in a row despite renewed advances in both the ringgit and crude oil.
In contrast, both US and Asian markets broke new highs this week, as investor sentiment towards equities continued to improve.
“The ringgit and crude oil continued to strengthen, but stocks are no longer following suit.
“There could be a greater downward momentum going forward, given that the index has failed to advance further over the past month,” said the head of research of a bank-backed research house.
The FTSE Bursa Malaysia KL Composite Index closed down 2.24 points to 1,708.91 on Wednesday, having failed to sustain its advance after hitting an eight-month high of 1,727.99 last Friday.
Over the past month, the market has fluctuated in a tight range of 1,700-1,725.
The ringgit remained near its highest this year. – The Star
 

RCEP negotiators under pressure to strike free trade deal
 Time flies, as they say. And the pressure is on for Regional Comprehensive Economic Partnership negotiators from 16 countries as they meet in Perth this week to narrow the gap and possibly wrap up the free-trade deal by year-end.
Last November at the Asean Summit in Kuala Lumpur, Asean leaders and six of their dialogue partners gave officials until the end of this year to conclude the RCEP.
They had missed the 2015 deadline set |earlier.
With eight months left to conclude negotiations involving the Asean 10, Japan, India, China, New Zealand, Australia and South Korea, officials are intensifying efforts and planning to have four more meetings till the end of the year.
A lot of focus was on the US-led Trans-Pacific Partnership, so news on the RCEP was rather muted.
When the TPP negotiations were wrapped up last October after five years, the heat was on |for RCEP officials to conclude the deal, since negotiations started in May 2013. – The Star