DANAVEST

(Business Times) Malaysia’s borrowing costs rose at an auction today after investors demanded higher yields to absorb this year’s record debt supply to finance the government’s budget deficit and stimulus spending. The treasury sold RM4.5 billion (US$1.3 billion) of April 2014 notes at an average yield of 3.879 per cent, Bank Negara Malaysia said on its website, up from 3.735 per cent at the previous sale on March 12 and 2.634 per cent on January 22. The sale attracted bids for 2.19 times the amount on offer compared with a so-called bid-to-cover ratio of 1.46 times in March.

(Business Times) The plan to make Senai International Airport in Johor a regional cargo hub is becoming closer to reality, with a cargo airline company agreeing to commence operations there from next month. Senai Airport Terminal Services (SATS) Sdn Bhd deputy chief operations officer Shahrull Allam Shah Abdul Halim said the company is also the first to do so.

(Business Times) GOOGLE Inc has launched Google Maps Malaysia (http://maps.google.com.my), a new search platform that enables users to find local geographic information on their personal computers and mobile phones. These include online maps, satellite imagery, driving directions, addresses and business listings, Google said in a statement today.

(The Edge) Public Bank Bhd contributed RM1.25 million to Universiti Tunku Abdul Rahman to set up the Tan Sri Teh Hong Piow Chair in banking and finance. Public Bank said on May 14 the contribution would be over five years, at RM250,000 per year, for the appointment of a professor and conduct applied research in banking and finance.

(The Edge) MISC Bhd has teamed up with Petronas International Corp Lt and Mustang Engineering Ltd to provide floating liquified natural gas (LNG) solutions and services worldwide as MISC seeks to be a leader in LNG transportation. MISC said on May 14 that it had entered into a shareholders’ agreement dated April 30 to undertake the solutions and services and the JV company’s authorised share capital is US$10 million. Petronas would hold 60%, MISC 30% and the remaining 10% Mustang Engineering.

(Bernama) Former Prime Minister, Tun Dr Mahathir Mohamad today expressed dissatisfaction with the progress made by Cyberjaya since its development began 12 years ago. “It has seen tremendous progress. You can see buildings, houses and IT related business here. The university is expanding and MSC is much more active now. “But if you ask me, am I satisfied? The answer is no. I like things faster. More faster, better and sometimes more expensive,” Dr Mahathir said. He said the earlier plan for the creation of a community of foreigners working and living here has not happened.