Malaysia Morning News For November 8, 2019

Malaysia to impose cash transaction limit of RM25,000 starting next year
Malaysia is planning to impose a cash transaction limit (CTL) of RM25,000 starting next year to further strengthen the country’s financial integrity.
— The Borneo Post

Rubber Production Incentive to remain at RM2.50: Shamsul
The Rubber Production Incentive (IPG) will remain at RM2.50 per kg, said Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Mohd Akin (pix).
— The Sun Daily

Malaysia sentences 5 to jail for gay sex; caning, fines await arrested men
A Malaysian religious court sentenced five men on Thursday to jail, caning and fines for attempting gay sex, media and a rights group said.
— ABS-CBN

Creative industry content can be lucrative export for Malaysia: Mahathir
Tun Dr Mahathir Mohamad (pix) said creative industry content such as movies, dramas and animations could be a lucrative export for the country if the products were of high quality.
— The Sun Daily

Penang benefitting from US-China trade war, says deputy chief minister
The ongoing US-China trade war has increased foreign direct investments (FDI) in Penang, according to the state’s first Deputy Chief Minister Ahmad Zakiyuddin Abd Rahman.
— Malay Mail

500 Class A fishing licences issued to encourage youth involvement: Salahuddin
The Ministry of Agriculture and Agro-based Industry today announced an additional 500 Class A fishing licences in an effort to encourage involvement of more youth in the industry.
— The Sun Daily

Govt yet to make decision on deportation of Cambodian opposition leaders
Cambodia has asked Malaysia to deport two of its opposition leaders but the government has yet to make a decision on the matter, Foreign Minister Datuk Saifuddin Abdullah said today.
— The Sun Daily

US considering hosting Apec summit in January, says Saifuddin citing Pompeo
The United States is considering hosting an Apec summit in the country in January after Chile pulled out, Malaysia’s foreign minister said today citing US Secretary of State Mike Pompeo.
— Malay Mail

Over RM197m in arrears to electricity supply trust account
The Energy, Science, Technology, Environment and Climate Change Ministry (MESTECC) has yet to receive RM197.9 million in arrears into the Electricity Supply Industries Trust Account (AAIBE) from the Independent Power Producers (IPPs) for the period 2008 to 2018.
— The Sun Daily

Not a good idea, says Malaysia after US offers to host Apec summit in January
Malaysia has disagreed with Washington’s proposal to hold the Asia-Pacific Economic Cooperation (Apec) summit in the United States in January next year.
— The Star Online

Petronas may want close association with Aramco, says expert
Petroliam Nasional Bhd (Petronas) may want to be closely involved with Saudi Arabian oil giant, Saudi Aramco, which will supply much of the oil for its downstream investment, the Refinery and Petrochemical Integrated Development (RAPID) project in Johor.
— The Sun Daily

Armed with federal guarantee, Penang eyes bonds to fund RM46b transport blueprint
The Penang state government will form a special purpose vehicle (SPV) to issue bonds for funds to pay for the state’s massive transportation plans, Penang Chief Minister Chow Kon Yeow (DAP — Padang Kota) said today.
— Malay Mail

BNM’s international reserves slip to US$103.2 bil at Oct 15
The central bank says the reserves position is sufficient to finance 7.6 months of retained imports.
— FMT News

Radioactive leak reported at Pos Aviation warehouse in Sepang (Update)
A radioactive leak at the Pos Aviation terminal of the KLIA Cargo Village here today forced its staff to evacuate the building and suspend operations.
— The Sun Daily

Malaysian government working hard to bring Jho Low back: PM Mahathir
The Malaysia government is working hard to bring back fugitive businessman Low Taek Jho, better known as Jho Low, to face justice over his role in the 1Malaysia Development Bhd (1MDB) corruption and bribery scandal, Prime Minister Mahathir Mohamad said on Thursday (Nov 7).
— CNA

Fire department says radioactive leak at Pos Aviation’s KLIA facility contained
The Selangor Fire and Rescue Department said it has contained a radiation leak detected at the cargo terminal of Pos Aviation Sdn Bhd near the Kuala Lumpur International Airport (KLIA) in Sepang.
— Malay Mail

Develop Bung Muan heritage centre into proper tourism product, Miro urges ministry
Serembu assemblyman Miro Simuh has urged the Ministry of Tourism, Arts and Culture to develop the Brooke Heritage Bung Muan centre in his constituency next year.
— The Borneo Post

Sarawak minister says GPS leaders got audit notices from taxman
Sarawak Tourism, Arts and Culture Minister Datuk Abdul Karim Rahman Hamzah said many Gabungan Parti Sarawak (GPS) leaders have received Inland Revenue Board (IRB) notices for them to furnish their income details and tax records.
— Malay Mail

BNM proposes cash transaction limit of RM25,000 in 2020
Bank Negara Malaysia (BNM) is proposing to implement a cash transaction limit (CTL) of RM25,000 next year, said the central bank’s deputy governor Datuk Abdul Rasheed Ghaffour (pix).
— The Sun Daily

Hanipa: Govt still mulling whether to abolish OSA
The government is still mulling whether to abolish the Official Secrets Act (OSA) or to maintain an improved version, says Deputy Minister in the Prime Minister’s Department Hanipa Maidin.
— The Star Online

S’wak logs, plywood exports dive
Sarawak’s exports of logs and plywood plunged in September, affecting the state’s foreign exchange earnings.
— New Sarawak Tribune

Public Bank Q3 earnings affected by OPR reduction
Public Bank Bhd’s net profit for the third quarter ended Sept 30, 2019 fell 1.5% to RM1.36 billion from RM1.38 billion a year ago, due to the negative effect of the 0.25% Overnight Policy Rate (OPR) reduction in May 2019.
— The Sun Daily

Strong PMI set to help achieve 2019’s GDP target
The Finance Ministry is confident the jump in Malaysia’s Manufacturing Purchasing Managers’ Index (PMI) in October to the highest pace in six months, will help the country achieve.
— New Sarawak Tribune

F&N sets RM450 mln capex for 2020
Food and beverages company, Fraser & Neave Holdings Bhd is allocating RM450 million for capital expenditure (capex) in 2020, said chief executive officer Lim Yew Hoe.
— New Sarawak Tribune

300 telco towers to be erected under Sarawak digital economy plan
The Sarawak Multimedia Authority (SMA) will construct 300 telecommunication towers, mostly in the rural areas, under the Sarawak Digital Economy Strategy 2018-2022.
— The Borneo Post

Penang underpass project necessary to avoid traffic congestion, says CM
The construction of an underpass linking Jalan Mount Erskine to Jalan Burma aims to prevent traffic congestion at the intersection of Jalan Gotlieb, Jalan Bagan Jermal, Jalan Burma and Jalan Mount Erskine.
— The Sun Daily

Encorp seeking over RM25m from contractor for project delay
Encorp Iskandar Development Sdn Bhd, a unit of Encorp Bhd, has served a notice of arbitration dated Nov 6, on Konsortium Ipmines Merz Sdn Bhd in respect of Konsortium Ipmines’ delay to complete a project.
— The Sun Daily

In tit-for-tat, Serembu rep urges CM to limit movement of federal officers in Sarawak
A government backbencher has urged Chief Minister Datuk Patinggi Abang Johari Tun Openg to restrict the movement of federal civil servants in Sarawak due to the treatment given to Gabungan Parti Sarawak (GPS) leaders by their departments and agencies.
— The Borneo Post

Govt should introduce economic stimulus package, says Muhyiddin
Tan Sri Muhyiddin Yassin wants the government to introduce a stimulus package to boost the country’s economic growth.
— The Star Online

Penang Hill still below 4,800-visitor limit, says exco
Visitors to Penang Hill have yet to exceed the limit of 4,800 people at once set under the Penang Hill Special Area Plan 2016, state exco Yeoh Soon Hin (DAP – Paya Terubong) said.
— Malay Mail

Take over federal agencies, Sarawak lawmaker miffed by RTM no-show tells state
The Sarawak government should take over the running of key agencies in education, immigration and customs from the federal government, Seremu assemblyman Miro Simuh said today.
— Malay Mail

Amid complaints, Pos Malaysia says some issues with ‘intermittent system accessibility’ but tracking service fine
Pos Malaysia has insisted that its “track and trace” system on its website and mobile app are fully functional, amid customer complaints on social media about delivery delays as well as problems locating packages.
— Malay Mail

WKB 2030 will focus on economy and high-income jobs to bridge economic gaps: Radzi Jidin
The government’s focus on the high-value economy and high-income jobs creation will contribute positively to efforts to bridge gaps between income groups, in tandem with the recently-launched Shared Prosperity Vision 2030 (WKB 2030).
— The Sun Daily

61 rural entrepreneurs in Sabah succeed under govt programme
A total of 61 rural entrepreneurs under a programme conducted by the Sabah Ministry of Rural Development (KPLB) have successfully developed their own businesses in various fields including handicraft.
— New Sarawak Tribune

Wee: AG must explain why two terrorism charges dropped against DAP rep
The Attorney General (AG) should explain why a decision was unexpectedly taken to drop two terrorism-related charges against Seremban Jaya assemblyman P. Gunasekaran over alleged links to the Liberation Tigers of Tamil Eelam (LTTE), says Datuk Seri Dr Wee Ka Siong.
— The Star Online

Radioactive leak forces evacuation at Pos Aviation warehouse near KLIA
A radioactive leak was reported today at the cargo terminal of Pos Aviation Sdn Bhd, which forced the staff to suspend operations and evacuate the building.
— Malay Mail

GDB bags RM213.3 million hotel development contract in Kota Kinabalu
GDB Holdings Bhd’s wholly owned subsidiary Grand Dynamic Builders Sdn Bhd secured a contract to build the Hyatt Centric Hotel in Kota Kinabalu, Sabah with a contract value of RM213.3 million.
— The Sun Daily

Bersih 2.0 decries handouts during poll as bid to fish for votes, says ethically wrong
Delivering aid to fishermen is not against any law, but is still ethically wrong, the Coalition for Clean and Fair Elections (Bersih 2.0) said today amid reports of government handouts with campaigning underway for the.
— Malay Mail

Malaysia’s cross-border remittance is going through a renaissance, say fintech experts
Malaysia’s cross-border payments industry is going through a renaissance, according to experts.
— e27

Mitrajaya bags RM137m project from UEM
Mitrajaya Holdings Bhd’s wholly owned subsidiary Pembinaan Mitrajaya Sdn Bhd has been awarded a RM137 million contract from UEM Group’s Milik Harta Sdn Bhd for the development of a 37-storey condominium in Mont’ Kiara, Kuala Lumpur.
— The Sun Daily

MIER reviewing viability of RM50b bid for PLUS takeover
The Malaysian Institute of Economic Research (MIER) is reviewing the viability and doability of a proposal from an individual group for the takeover of Khazanah Nasional Bhd’s 51% stake in Projek Lebuhraya Utara-Selatan (PLUS) Malaysia Bhd.
— The Sun Daily

Tamin rep urges state government to speed up rural high impact projects
A government backbencher has called on the state government to accelerate the pace of high impact development projects for people in the rural areas next year due to the limited support in terms of funding from Putrajaya.
— The Borneo Post

Dr M says arts students deserve better benefits, can make money for Malaysia too
Arts students are deserving of the same benefits given to their science-stream peers as the creative industry is a major contributor to the country’s economy, the prime minister said today.
— Malay Mail

Feature photo Maidam

This week’s Malaysia morning news feature photo focuses on Maulidur Rasul (Prophet Muhammad’s birthday), November 9-10.

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

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