Malaysia Morning News For June 22

Solid Q1 performance fuels forecast upgrade
The economy seems to have started Q2 on a downbeat note according to recent economic indicators. In April, industrial production growth slowed as a result of a contraction in the mining sector, which more than offset an acceleration in the manufacturing sector.
–Focus Economics

Gamuda top pick for KL-Singapore high speed rail, says CIMB Research
CIMB Equities Research is positive on the likely pick-up in the progress of the Kuala Lumpur-Singapore high speed railway (HSR) project in 2H17 but concludes that it would be too early to name potential winners.
— The Star Online

Govt backs inquiry into forex losses
The Government has agreed to form a Royal Commission of Inquiry (RCI) to investigate foreign exchange losses amounting to billions of ringgit suffered by Bank Negara in the 1980s and 1990s, the Prime Minister’s Office said.
— The Star Online

Malaysia headline inflation to pick up to 3.5% in 2017, says RHB Research
RHB Research Institute Sdn Bhd expects Malaysia’s headline inflation to pick up to 3.5% in 2017, from 2.1% in 2016.
— The Edge Markets

Import and Export Procedures in Malaysia – Best Practices
Nestled between the South China and Andaman Seas, Malaysia is a historic trading center and strategic operating location – bordering Brunei, Indonesia, Singapore (via bridge), and Thailand by land and the Philippines and Vietnam by sea.
— Asean Briefing

Perth Stadium’s Malaysian footbridge ‘saved $3.5m’
Details have emerged about the previous State government’s decision to allow the now overdue and over-budget Perth Stadium footbridge to be built in Malaysia.
— The West Australian

Malaysia Startup Ecosystem Tour
In recent years, the Government of Malaysia has been taking proactive steps to build a strong infrastructure for the Malaysian entrepreneurship scene.
— Thailand Business News

Not an attempt to topple Malaysian gov’t, says US embassy
The United States’ Department of Justice (DOJ) suits related to 1MDB are not aimed at toppling the government of Malaysia, said the US embassy in Kuala Lumpur.
— Malaysiakini

Impose tourism tax only on foreigners, says budget hotel body
The Malaysia Budget Hotel Association (MyBHA) has praised the government for thinking about exempting hotels rated three stars and below from the tourism tax.
— Free Malaysia Today

Malaysia Airlines in early talks to buy long-range jets
Malaysia Airlines is in early negotiations with Airbus and Boeing for the purchase of 35-40 new long-range jets, its chief executive said on Wednesday.
— Free Malaysia Today

MyCC grants conditional block exemption for liner shipping agreements
The Malaysia Competition Commission (MyCC) has decided to grant a block exemption for liner shipping agreements for vessel-sharing agreements (VSAs) and voluntary discussion agreements (VDAs) within Malaysia or effecting on liner shipping services in Malaysia.
— The Malay Mail Online

Spirit expanding Malaysia plant, adding 300 jobs
Spirit AeroSystems will expand its Malaysia plant by 50,000 square feet and add 300 jobs, the Wichita-based aircraft supplier announced Wednesday at the Paris Air Show.
— The Wichita Eagle

Cheapest? Locals refute study that says KL apartment rentals are cheap
Property experts and those renting apartments say apartment rentals in Kuala Lumpur may be the cheapest in the world for Westerners but not locals.
— Free Malaysia Today

PR1MA housing leading developers to build affordable homes
The 1Malaysia People’s Housing (PR1MA) initiative has led to more private property developers building affordable homes said Perbadanan PR1MA Malaysia chief executive officer Datuk Abdul Mutalib Alias.
— The Star Online (video)

Bus operators must to be diligent on the road
Land Public Transport Commission (SPAD) senior general manager for operations, Datuk Paduka Che Hasni Che Ahmad warned bus operators and drivers not to think they can escape the vigilant eyes of enforcement officers. He said its department has teamed up with the police, Road Transport Department and highway authorities to conduct operations on express buses during their journey.
— The Star Online (video)

Another 300 Taxi Drivers Receive Individual Licences
The Land Public Transport Commission (SPAD) on Wednesday handed over 300 individual taxi licences to a second group of qualified taxi drivers whose lease agreement had ended.
— Malaysian Digest

Malaysia to Investigate Decades-Old Foreign-Exchange Scandal
Malaysia will form a royal commission to investigate a multi-billion-dollar foreign-exchange scandal involving the central bank, over two decades after the issue first came to light, the government said on Wednesday.
— The New York Times

MBI Group is everywhere in Penang
MBI Group International enjoys a strong presence with a huge following in Penang.
— The Star Online

DRB-Hicom share-trading to be suspended
DRB-Hicom Bhd’s shares will be suspended from trading today, pending a material announcement pertaining to Proton Holdings Bhd’s partnership with China’s Zhejiang Geely Holding Group Co.
— The Star Online

Feature photo John Ragai
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).

Malaysia morning news is published M-F by AEC News Today: Governance, not government; policies not politics.

Malaysia Morning News For June 22 added by Leakhena Khat on June 22, 2017
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.